Lee & Associates Negotiates 50,000 SF Industrial Lease Near Galveston

TEXAS CITY, TEXAS — Lee & Associates has negotiated a 50,000-square-foot industrial lease at 10000 Emmett F. Lowry Expressway in Texas City, located southeast of Houston near Galveston. Frank Blackwood and John Gazzola of Lee & Associates represented the tenant, Odyssey 2020 Academy Inc., in the lease negotiations. The name and representative of the landlord were not

Lee & Associates Brokers Sale of 101,492 SF Industrial Building in Dallas

DALLAS — Lee & Associates has brokered the sale of a 101,492-square-foot industrial building located at 10355 Sanden Drive in Dallas. According to LoopNet Inc., the single-tenant property was built in 1994 and features 24-foot clear heights and 16 dock-high loading doors. Taylor Stell and Brett Lewis of Lee & Associates represented the buyer, Rotary Corp., in the transaction. The seller was not

NKF Brokers $169M Sale of Jefferson Creative Office Campus Near Los Angeles

CULVER CITY, CALIF. — Newmark Knight Frank (NKF) has brokered the sale of Jefferson Creative Campus, a three-building office property located in the Culver City submarket of Los Angeles. Clarion Partners and Lincoln Property Co. acquired the asset from Rader Properties Group VII and Rodeo Properties for $169 million. Situated on seven acres at 5870, 5880 and 5890 W. Jefferson Blvd., the asset offers a total of 152,146 square feet of office space. Excess development potential could allow …

Lee & Associates Arranges $4.2M Sale of Surgery Center in Ontario, California

ONTARIO, CALIF. — Lee & Associates Orange has arranged the sale of a commercial asset located at 4480 Ontario Mills Parkway/745 Franklin Ave. in Ontario. Almaz Investment & Management sold the building to a private individual for $4.2 million. Allen Buchanan, Joshua Harper of Lee & Associates’ Orange, Calif., office and David Mudge of Lee & Associates’ Riverside, Calif., office represented the seller, while Greg Martin of Lee & Associates’ Ontario, Calif., office …

Lee & Associates Arranges Sale of 102,292 SF Sterling Plaza Office Building in Houston

HOUSTON — Lee & Associates has arranged the sale of Sterling Plaza, a 102,292-square-foot office building located at 10101 Southwest Freeway in Houston. The Class B property was built in 1982 and renovated in 2001. Robert LaCoure and Ryan Young of Lee & Associates represented the buyer, Tristar Alliance Properties, which plans to upgrade the lobby, roof and HVAC systems, in the transaction. Patrick O’Connell of O’Connell Realty represented the seller, Mykawa Hso

Lee & Associates Negotiates Sale of Retail Center in Sherman, Texas

SHERMAN, TEXAS — Lee & Associates has brokered the sale of a 25,000-square-foot retail center located at 5629 Texoma Parkway in Sherman. As of October 2018, the shopping center’s tenants included Allstate, Chef Angel, TTS E-Cig & Vape and Mac’s Tax & Bookkeeping Service. Matt Thompson and Phil Rosenfeld of Lee & Associates Dallas/Fort Worth represented the buyer, Bemisal Enterprises, in the transaction. Sangha Enterprises LLC sold the center for an undisclosed

Pinnacle Healthcare Buys Creative Office Building in Tempe for $8.4M

TEMPE, ARIZ. — Oregon-based Pinnacle Healthcare has purchased 1860 West University, a creative office building located in Tempe. iT1 Source sold the asset for $8.4 million, or $314 per square foot. The seller, an IT solutions company, will continue to occupy the property through a long-term lease. Geoff Turbow, Matt Pourcho, Anthony DeLorenzo, Gary Stache, Bryan Johnson and Doug Mack of CBRE Investment Properties – SoCal/Phoenix, along with Colton Trauter and Bill Blake of Lee & …

Lee & Associates Negotiates 335,480 SF Industrial Lease Renewal in Irving

IRVING, TEXAS — Lee & Associates has negotiated a 335,480-square-foot industrial lease renewal at 9400 N. Royal Lane in Irving. According to LoopNet Inc., the rail-served property was built in 2004 and totals 447,400 square feet. Tom Walrich of Lee & Associates represented the tenant, supply chain operator KGP Logistics Co. Mitch Pruitt represented the landlord, Prologis, on an internal

Lee & Associates Negotiates Sale of 60,416 SF R&D Building in Southern California

SIMI VALLEY, CALIF. — Lee & Associates-LA North/Ventura has arranged the sale of a research and development building located at 685 E. Cochran St. in Simi Valley. Albert Halami, a private investor, acquired the asset from 685 Cochran Holdings LLC for $11 million, or $183 per square foot. The seller will continue to occupy a portion of the 60,416-square-foot property for its businesses, which include SensoScientific, under a sale-leaseback arrangement. Other tenants at the fully leased …

Robust Industrial Investment Shows No Signs of Slowing

Real estate buyers spent a record-setting amount of cash in the sector in the third quarter and remain bullish on the properties amid healthy absorption and rent growth. The industrial real estate sector, traditionally known as the land of big, boring boxes, has become the darling of real estate amid the growth of e-commerce. Investors have poured hundreds of billions of dollars into industrial properties over the last five years alone, and not even the prospect of new construction …

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