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Lee & Associates

307-E-Carmel-St-San-Marcos-CA
AcquisitionsCaliforniaIndustrialLee & AssociatesMixed-UseOfficeRetailWestern

Lee & Associates Brokers Sale of 18,452 SF Mixed-Use Building in San Marcos, California

by Amy Works

SAN MARCOS, CALIF. — Lee & Associates has arranged the sale of a showroom and flex building located at 307 Carmel St. in San Marcos. Creative Carmel LLC, an owner-user, acquired the asset from 307 E Carmel LLC for $6 million. Situated on 1.8 acres, the 18,452-square-foot single-tenant building offers 40 percent showroom, 25 percent office and 35 percent warehouse space. Marko Dragovic, Isaac Little and Olivia Baffert of the Little Dragovic Team at Lee & Associates – North San Diego County represented the seller, while Russ Jabara and Shawn Espino of San Diego Commercial Realty represented the buyer in the deal.

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IllinoisIndustrialLeasing ActivityLee & AssociatesMidwest

Lee & Associates Negotiates 44,458 SF Industrial Lease in Glenview, Illinois

by Kristin Harlow

GLENVIEW, ILL. — Lee & Associates of Illinois has negotiated a long-term lease for a 44,458-square-foot industrial building located at 1870 Elmdale Ave. in the Chicago suburb of Glenview. Jeff Janda, John Cassidy and Brad Simousek of Lee & Associates represented the owner, DRA Advisors. Nick Schurer of Vestian Global Workplace Services represented the tenant, Lakeshore Academy Gymnastics North. The property marks the gymnastic school’s third location.

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AcquisitionsLee & AssociatesNew JerseyNortheastOffice

Lee & Associates Negotiates $3.6M Sale of Office Building in Fairfield, New Jersey

by Taylor Williams

FAIRFIELD, N.J. — Lee & Associates has negotiated the $3.6 million sale of a 34,445-square-foot office building located in the Northern New Jersey community of Fairfield. The three-story building at 383 U.S. Route 46 was originally constructed on 1.6 acres in the 1970s and has been owner-occupied since 1985. Peter Rasmusson of Lee & Associates represented the seller, The Glassman Family, in the transaction, and procured the buyer, an entity doing business as Fairfield Real Estate LLC.

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AcquisitionsIndustrialLee & AssociatesTexas

Lee & Associates Brokers Sale of 50,000 SF Industrial Property in Northeast Dallas

by Taylor Williams

DALLAS — Lee & Associates has brokered the sale of a two-building, 50,000-square-foot industrial property in northeast Dallas. According to LoopNet Inc., the buildings at 11550 Plano Road were originally built in 1979. Building features include rear-load configurations, multiple renovated office suites, 16-foot clear heights and 108 surface parking spaces. Taylor Stell of Lee & Associates represented the undisclosed seller in the transaction and procured the buyer, RAM Capital Texas.

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Superstition-Gateway-Mesa-AZ
AcquisitionsArizonaLee & AssociatesRetailWestern

Desert Troon Divests of Superstition Gateway Shopping Center in Mesa, Arizona for $121M

by Amy Works

MESA, ARIZ. — Desert Troon Cos. (DT-SGE LLC and DT-SGW LLC) has completed the disposition of Superstition Gateway Shopping Center to an undisclosed Southern California-based family office for $121 million, or $244 per square foot. Jan Fincham, Mike Sutton and Brent Moser of Lee & Associates Arizona represented the seller in the off-market transaction. The seller was part of the original development partnership that built the shopping center almost 20 years ago. Situated on 65.7 acres at the southwest corner of US-60 and Signal Butte Road, Superstition Gateway offers 495,000 square feet of retail space, totaling 19 individual parcels. Current tenants at the 90 percent-occupied center include Super Walmart, Kohl’s, AMC Theatres, LA Fitness, Total Wine & More, Ross Dress for Less, Marshalls, Five Below, PetSmart, Panera Bread, KFC, In-N-Out Burger and Chili’s. The asset was constructed in 2006 and 2012.

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1101-Richfield-Rd-Placentia-CA
AcquisitionsCaliforniaIndustrialLee & AssociatesWestern

Lee & Associates Brokers $3M Sale of Industrial Property in Placentia, California

by Amy Works

PLACENTIA, CALIF. — Lee & Associates | Orange has arranged the sale of an industrial asset located at 1101 Richfield Road within Miraloma Business Center in Placentia. Davcal sold the property to Chin Kim for $3 million. Originally built in 1991, the 7,492-square-foot warehouse facility features 400 amps, 120/208v, three-phase electrical service; 16-foot minimum warehouse clearance; two ground-level doors; 3,000 square-foot of office space, plus a second-floor office space; and easy access to local freeways. Jameson Hearne, Marshal Vogt and Bryan Miller of Lee & Associates | Orange represented the seller in the deal.

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Vidal-Cantu-Industrial-Center-Laredo
IndustrialLee & AssociatesMarket ReportsTexasTexas Market Reports

Laredo, Texas: The World’s Largest Port, A Supply Chain Powerhouse

by Taylor Williams

By Enrique Volkmer, associate at Lee & Associates Laredo, Texas, has emerged as one of the largest ports in the world by volume and crossings, driven by its robust infrastructure and strategic location. According to 2023 data from the U.S. Census Bureau, the Port of Laredo was responsible for handling an aggregate amount of product valued at about $320 billion, the most in the country by that metric. In addition, a 2024 article from Transport Topics, citing data from the Laredo Economic Development Corp., stated that the Port of Laredo sees more than 5.5 million truck crossings per year. The article also noted that the port is home to 660 trucking and transportation companies, 250 freight forwarders and 120 U.S. Customs brokers. Recent analysis of freight costs conducted by LoadWise 3PL and OL Logistics found that shipping product from Laredo to several major destinations, including Detroit, Atlanta, Indianapolis and Pittsburgh, actually yields savings compared to shipping from Houston to those cities, all other factors being held equal. The same study revealed a cost advantage when shipping westward from Laredo instead of Dallas to select markets such as Los Angeles, Denver, Seattle, Salt Lake City and San Francisco. Freight is often …

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Industrial geoffrey moffett unsplash
Content PartnerDevelopmentFeaturesIndustrialLeasing ActivityLee & AssociatesMidwestMultifamilyNortheastOfficeRetailSoutheastTexasUncategorizedWestern

Lee & Associates: Tariffs Add to Q1 Industrial Challenges; All Sectors See Constrained Development

by Sarah Daniels

The end of the first quarter of 2025 saw market uncertainty in the face of new U.S. trade and tariff policies combined with an unclear geopolitical outlook, according to Lee & Associates’ 2025 Q1 North America Market Report. The effect of these concerns within the commercial real estate world are most evident in the industrial sector, which is also contending with oversupply and softening rent growth. Development is slow across property types. Retail, despite high-profile store closures in early 2025, remains historically tight on space as years of underbuilding keep availabilities near record lows. Office demand has stabilized in several major metros following years of contraction, though vacancy remains elevated. The pipeline of new construction is both drying up and favoring new types of tenants beyond traditional office spaces. Multifamily is seeing strong tenant demand in certain markets despite a flood of new deliveries. Lee & Associates has made their full market report available here (click through for detailed breakdowns and city-by-city information). The information below for the industrial, office, retail and multifamily sectors offers clarity on market-wide demand, rent growth trends and challenges likely to shape trajectories throughout 2025. Industrial Overview: Soft Markets Face Tariff Disruptions North America’s industrial markets …

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IllinoisIndustrialLeasing ActivityLee & AssociatesMidwest

Simoniz USA Renews 18,013 SF Industrial Lease in Romeoville, Illinois

by Kristin Harlow

ROMEOVILLE, ILL. — Simoniz USA, a manufacturer of cleaning and maintenance products, has renewed its 18,013-square-foot industrial lease at 1109 Windham Parkway in the Chicago suburb of Romeoville. Jeff Galante of Lee & Associates of Illinois represented the tenant. Prologis, which was self-represented, owns the building.

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AcquisitionsCaliforniaIndustrialLee & AssociatesWestern

Lee & Associates Brokers $20.8M Sale of Arrow Grand Business Park in Covina, California

by Amy Works

COVINA, CALIF. — Lee & Associates has negotiated the sale of Arrow Grand Business Park, an industrial property at 753-759 Arrow Grand Circle in Covina. CTT Tools Inc. sold the asset to 2Trees LLC for $20.8 million, or $290.52 per square foot. The 71,762-square-foot property offers 10,000 square feet of office space. Nathan Lara and Jack Nersesian of Daum listed the property, while Justin Chiang and Kevin Ching of Lee & Associates served as procuring agents for the transaction.

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