FORT WORTH, TEXAS — Lee & Associates has brokered the $8.1 million sale of a 92,450-square-foot industrial building in Fort Worth that is leased to FedEx. The property was constructed on 10.4 acres in 1998 as a build-to-suit, and FedEx has occupied the entirety of the building since that time. Ryan Barr and Ryan Bennett of Lee & Associates represented the locally based seller in the transaction. Cushman & Wakefield represented the buyer, California-based MH Sherman Co., which acquired the asset via a 1031 exchange.
DALLAS — Lee & Associates has negotiated a 70,200-square-foot industrial lease at 8401 John W. Carpenter Freeway in Dallas. According to LoopNet Inc., the property was built in 1956 and totals 84,400 square feet. Stephen Williamson and Adam Graham of Lee & Associates represented the landlord, Stonelake Capital Partners, in the lease negotiations. The representative of the tenant, TDU Tires, was not disclosed.
GRAND PRAIRIE, TEXAS — Lee & Associates has negotiated a 103,658-square-foot industrial lease at 2895 113th St. in the central metroplex city of Grand Prairie. According to LoopNet Inc., the property was built in 1988 and features 28-foot clear heights. Mark Graybill and Colton Rhodes of Lee & Associates represented the landlord, The Wilkerson Group, in the lease negotiations. Krista Raymond of CBRE represented the tenant, Rent-A-Tire.
GRAND PRAIRIE, TEXAS — Lee & Associates has negotiated a 164,000-square-foot industrial lease at 927 W. Carrier Parkway in the central metroplex city of Grand Prairie. Mark Graybill and Colton Rhodes of Lee & Associates represented the landlord, LINK Industrial, in the lease negotiations. David Eseke of Cushman & Wakefield represented the tenant, Wizards of the Coast, LLC, a publisher of role-playing games that previously operated retail stores.
DEFOREST, WIS. — Lee & Associates has brokered the $1.1 million sale of a 16,000-square-foot industrial building in DeForest, just north of Madison. The property is located at 4159 Reardon Road. Blake George of Lee & Associates represented the seller, CHEEE Holdings LLC. The buyer, CAH CO DeForest LLC, will use the property as a vehicle maintenance facility for Hooper Corp.
CERRITOS, CALIF. — Lee & Associates Orange has arranged the sale of a freestanding industrial building located at 12836 Alondra Blvd. in Cerritos. The property traded for $22.6 million. The names of the seller and buyer were not released. Situated in Cerritos Industrial Park, the 109,368-square-foot facility features 10 dock-high loading positions, 24-foot clear heights, a fenced yard and major street frontage on Alondra Boulevard. Jeff Gahagan of Lee & Associates Orange represented the seller in the deal.
Healthcare has very different drivers when it comes to growth and demand. While highs and lows in the economy influence healthcare in many of the same ways other industries experience, it’s also governed by trends that are unique to how people seek — and pay for — their medical treatments. Chris Jacobson and Susan Wilson, both vice presidents and healthcare advisors for Lee & Associates Commercial Real Estate Services, took some time recently to talk to REBusinessOnline about today’s healthcare real estate trends. Taking a broad look across the sector, some healthcare systems have lost revenue due to suspending elective procedures during the early months of the COVID-19 pandemic. “It’s going to take them a while to recoup that revenue,” Wilson says. “Additionally, now that they have reopened, they are spacing people out in waiting rooms, so they’re seeing fewer patients. There are currently opportunities for subleases with some major health systems. This could be an opportunity for some of the larger, more successful health systems to take over some of that space.” Jacobson has observed that there are three types of investments occurring right now. The first of those are large healthcare systems presently focused on COVID-19-related care. The …
CHICAGO — Lee & Associates of Illinois has brokered the sale of an 80,000-square-foot, loft-style industrial building located at 325 N. Ashland Ave. in Chicago’s Fulton Market for an undisclosed price. The two-story property will undergo renovations, including a new roof, LED lighting, remodeled office space and a new 45-space car parking lot. It was originally built in 1950. Tom Condon and Sean Austin of Lee & Associates brokered the sale. Rickard Binding sold the asset to Tradelane Properties, which has retained Lee & Associates to market the building for lease.
BRIDGEWATER, N.J. — Atlantic Health Systems has signed a 37,030-square-foot healthcare lease at Bridgewater Medical Building, a 95,000-square-foot property located at 1125 Route 22 W. in the Northern New Jersey city of Bridgewater. A joint venture between regional developer Atkins Co. and Capital Solutions Inc. acquired the building, which formerly served as the regional headquarters of Bank of America, in 2017. Bryn Cinque and Jim Bailey of Colliers International represented Atlantic Health Systems, which serves approximately 5 million people across 11 counties in New Jersey, in the lease negotiations.
HOUSTON — Lee & Associates has brokered the sale of a 158,700-square-foot industrial campus located at 6500 Brittmoore Road in northwest Houston. The campus consists of eight buildings on 13 acres. Robert McGee, Thomas Leger and Chase Cribbs of Lee & Associates represented the buyer, privately held development firm Adkisson Group, in the transaction. The seller and sales price were not disclosed. Lee & Associates will also be marketing the property for lease.