Property Type

Lovett Industrial Acquires 328 Acres Near Port of Virginia, Plans 2.2 MSF Spec Development

by John Nelson June 21, 2023

JAMES CITY COUNTY, VA. — Lovett Industrial has acquired 328 acres in James City County, a county between Port of Virginia and I-95 near Williamsburg, Va. The Houston-based developer plans to build Enterprise Logistics Park, a 2.2 million-square-foot industrial park, on the site. In addition to the port and I-95, the speculative development will have direct access to I-64. Design is underway on the park, which will feature a variety of building sizes ranging from 100,000 to 1 million square feet and capabilities from light-industrial to manufacturing, as well as amenity space and conveniences for workers. Lovett plans to break ground in first-quarter 2024. Once completed, Enterprise Logistics Park will be the largest speculative industrial park developed on the I-64 corridor between Norfolk and Richmond, according to Lovett. Geoff Poston and Ellis Colthorpe of Cushman & Wakefield | Thalhimer will handle marketing and leasing efforts at the park.

June 21, 2023

California Loans Office Western

Gantry Arranges $11.3M Refinancing for Office Tower in Berkeley, California

by Jeff Shaw June 21, 2023

BERKELEY, CALIF. — Gantry has secured an $11.3 million permanent loan to refinance a multi-tenant office tower located at 2855 Telegraph Ave. in Berkeley. The six-story, 83,557-square-foot office building accommodates more than 35 tenants, including professional services, medical offices and small businesses. It was originally constructed in the 1960s. Gantry’s Tony Kaufmann and Alex Poulos secured the 30-year, fixed-rate loan, which one of Gantry’s correspondent life company lenders provided. The financing replaces a maturing CMBS loan, providing stability and financial flexibility for the building’s tenant base.

June 21, 2023

Acquisitions California Office Western

Lee & Associates Brokers $4M Sale of Royale Oak Office Park in Covina, California

by Jeff Shaw June 21, 2023

COVINA, CALIF. — Lee & Associates-Pasadena has arranged the sale of the Royale Oak Office Park in the San Gabriel Valley city of Covina. An international investor acquired the asset for $4 million in an all-cash transaction. The 19,300-square-foot property, located at 1272-1274 Center Court Drive in the Village Oaks Business Park, comprises two multi-tenant office buildings. The property offers updated interior suites, private restrooms, exterior entrances and significant upside potential in rental rates. The seller recently implemented renovations, including new exterior staircases, paint and landscaping. Lee’s Jamie Harrison and Christopher Larimore represented the seller.

June 21, 2023

Acquisitions Industrial Self-Storage Washington Western

SecureSpace Acquires 57,700 SF Northlynn Mini-Storage in Seattle

by Jeff Shaw June 21, 2023

SEATTLE — SecureSpace has acquired Northlynn Mini-Storage in the Lynnwood area of Seattle. The facility is located at 15620 Highway 99. It contains a total of 57,700 net rentable square feet. The ground-floor units consist of drive-up and interior units, with two dozen rentable parking spaces. SecureSpace plans a substantial renovation to enhance the appeal of the facility for the 134,000 residents residing within a three-mile radius. The property will be rebranded as SecureSpace Self Storage Lynnwood, becoming the eighth store under that brand in the Seattle MSA.

June 21, 2023

California Industrial Leasing Activity Lee & Associates Western

Lee & Associates Orange Signs $4.3M Lease for Industrial Building in Santa Ana, California

by Jeff Shaw June 21, 2023

SANTA ANA, CALIF. — Lee & Associates Orange has leased a freestanding industrial building spanning 40,586 square feet. The lease agreement, which is for more than 60 months, amounts to a total consideration of around $4.3 million. Located at 1651 E. Saint Andrew Place in Santa Ana, the property offers a ground-level loading door, two dock-high loading doors, 28-foot clear height and 1,200 amps, 277/480V of power. Greg Diab and Jack Haley of Lee & Associates’ Orange office represented the tenant in the negotiations.

June 21, 2023

California Leasing Activity Life Sciences Western

Novoron Bioscience Leases 7,432 SF Space at GENESIS-San Diego

by Jeff Shaw June 21, 2023

SAN DIEGO — Phase 3 Real Estate Partners has signed a lease agreement with life sciences company Novoron Bioscience at GENESIS-San Diego. Located in downtown San Diego, GENESIS-San Diego is an eight-story, 200,000-square-foot, Class A life sciences building. Novoron Bioscience’s lease for a 7,432-square-foot space marks GENESIS-San Diego’s third lease agreement signed in the past year within the building’s wet lab facility. Novoron Bioscience will utilize the space to further its research on lipoprotein-receptor drug development, aiming to address challenging neurological conditions such as multiple sclerosis, spinal cord injuries and Alzheimer’s disease.

June 21, 2023

Development Georgia Mixed-Use Office Retail Southeast

Jamestown Tops Out Mass Timber Mixed-Use Building at Ponce City Market in Atlanta

by John Nelson June 21, 2023

ATLANTA — Jamestown has topped out 619 Ponce, a mass-timber mixed-use building on the Ponce City Market campus in Atlanta’s Old Fourth Ward district. The four-story property will comprise 87,000 square feet of loft offices and 27,000 square feet of retail space upon completion. Business tech firm Sage and retailer Pottery Barn have committed to 57,000 square feet of office space and 18,000 square feet of retail space at 619 Ponce, respectively. Amenities will include onsite daycare and medical facilities, direct access to the Atlanta BeltLine, bike storage and complimentary access to The Roof entertainment venue at Ponce City Market. The building will feature outdoor space on every level, natural wood columns and ceilings and floor-to-ceiling windows with operable panels. Jamestown is targeting LEED and Fitwel certification and is using Georgia-grown timber for the façade at 619 Ponce, as well as a regional supply chain, according to Jamestown. The design-build team includes Handel Architects, JE Dunn and StructureCraft. Atlanta-based Jamestown owns and manages more than 100,000 acres of timberlands across Georgia, Alabama, South Carolina, New York, Pennsylvania and Indiana.

June 21, 2023

Acquisitions Georgia Industrial Southeast

Ackerman Purchases New 212,232 SF Distribution Center in Conyers, Georgia

by John Nelson June 21, 2023

CONYERS, GA. — Ackerman & Co. has purchased a newly built, 212,232-square-foot distribution center located at 2020 E. Park Drive in Conyers, about 30 miles east of downtown Atlanta. The developer, Dayton Street Partners, sold the property to the locally based developer for an undisclosed price. Built in late 2022, the facility is located in Atlanta’s I-20 East submarket in Rockdale County. The rear-load building features 32-foot clear heights, two drive-in dock doors, more than 200 car parking spaces and a truck court with 41 parking spaces. Brett Buckner and Chris Miller of Ackerman & Co. will direct leasing efforts at the property, which offers options starting at 50,000 square feet.

June 21, 2023

Loans Office Retail Texas

CBRE Arranges $67.1M Acquisition Loan for Office, Retail Portfolio in Austin

by Taylor Williams June 21, 2023

AUSTIN, TEXAS — CBRE has arranged a $67.1 million acquisition loan for a portfolio of 12 office buildings and one retail building totaling 547,395 square feet in Austin. The buildings are situated on a combined 42 acres within Braker Business Park. Bill Chiles, Scott Peterson, Colby Matzke and Brian Cruz of CBRE arranged the five-year, nonrecourse loan on behalf of the borrower, California-based M.I.G. Capital. The direct lender was not disclosed. The buyer previously purchased three other buildings within Braker Business Park in 2016.

June 21, 2023

Development Leasing Activity Mixed-Use Retail Southeast Tennessee

Southwest Value Partners, AEG Sign Iconix Fitness to 40,000 SF Lease at Nashville Yards

by John Nelson June 21, 2023

NASHVILLE, TENN. — Southwest Value Partners and AEG, joint venture partners and co-developers of the 18-acre Nashville Yards mixed-use development, have signed Iconix Fitness to a 40,000-square-foot retail lease. Michael Townsend of Townsend & Associates advised Iconix Fitness on the lease transaction. The high-end wellness and recovery-focused fitness operator plans to open the new club in summer 2025. Iconix will occupy the entire second floor of Nashville Yards’ 420,000-square-foot, Class A creative office building, which will also house an EVO Entertainment venue. The Iconix club will have a dedicated entry on the ground floor with a retail space offering fitness apparel, as well as a health-focused café with an adjacent patio space that will be used to host social events for members. The club also plans to activate the more than seven acres of open green spaces at Nashville Yards for special events and classes. Additionally, the venue will have a 2,500-square-foot recovery area that will feature infrared sauna, cold plunge, red light therapy and compression therapy treatments.

June 21, 2023

Newer Posts

Older Posts