Property Type

Orange County’s Industrial Sector Continues to Grow

by Jeff Shaw March 24, 2023

— By Jace Gan, Executive Vice President, Colliers — Before 2020, Orange County’s industrial base shrank due to developers opting to redevelop multifamily and creative office spaces. Historically tight market conditions limit the number of new leases, and rising interest rates price out many businesses looking to purchase a building. However, we are seeing a significant increase in industrial development across Orange County for the first time in a while. Orange County industrial properties have seen a pullback from institutions that were putting capital out the door. About 2.4 million square feet of new industrial space was constructed in 2022 — a significant increase over the 660,000-square-foot, five-year average. Setting Pace Most activity occurs in North County, which makes up 45 percent of OC’s industrial base. Irvine has remained the hub for more specialized uses related to aerospace, medical, etc. Key developments across the region are dictating the speed of future activity. Goodman recently developed a 1.5-million-square-foot, four-building logistics center in Fullerton. The overall size is rare for the OC, and was 89 percent pre-leased before completion. Samsung took two buildings totaling 1 million square feet. Sprouts took 337,000 square feet in another building. Sares Regis Group is redeveloping an …

March 24, 2023

Loans Multifamily Seniors Housing Texas

Ziegler Arranges $76M Bond Financing for Brazos Presbyterian Homes in Texas

by Taylor Williams March 23, 2023

HOUSTON — Ziegler has arranged $76 million in bond financing for Brazos Presbyterian Homes (BPH), a nonprofit seniors housing owner-operator based in Houston. The tax-exempt, draw-down bonds are supported by a three-bank syndicate comprised of Amegy Bank, Hancock Whitney and Trustmark. BPH owns and operates three continuing care retirement communities in Texas: Brazos Towers at Bayou Manor, The Hallmark and Longhorn Village. The bonds will fund an expansion project at Longhorn Village, refinance bonds from 2013 and pay the costs of issuance. The expansion project will add 48 independent living apartments to the community, as well as underground parking. Greenbrier Development is assisting with the development.

March 23, 2023

Industrial Leasing Activity Texas

Samsung HVAC Signs 132,000 SF Industrial Lease Expansion at AllianceTexas in Fort Worth

by Taylor Williams March 23, 2023

FORT WORTH, TEXAS — Samsung HVAC America, the Korean electronics giant’s North American heating and cooling products division, has signed a 132,000-square-foot industrial lease expansion at AllianceTexas in Fort Worth. The company, a longtime tenant at AllianceTexas, now occupies all 360,000 square feet of Alliance Gateway 55. Mark Becker, Jay Benner, Adam Cooke and Lou D’Avanzo of Cushman & Wakefield represented the tenant in the lease negotiations. Samuel Rhea and Reid Goetz internally represented the landlord, Hillwood.

March 23, 2023

Loans Lument Multifamily Seniors Housing Texas

Lument Provides $21.1M Loan for Refinancing of Houston Seniors Housing Property

by Taylor Williams March 23, 2023

HOUSTON — Lument has provided a $21.1 million bridge loan for the refinancing of Hermann Park, an 80-bed seniors housing property in Houston. The facility offers assisted living and memory care services. Doug Harper, Chris Mauger and Casey Moore of Lument originated the financing, which carried a 36-month term and a one-year extension option, on behalf of the borrower, California-based owner-operator Silverado.

March 23, 2023

Development Multifamily Washington Western

MSquared Receives Funding for $54M Mixed-Income Apartment Project in Lynnwood, Washington

by Jeff Shaw March 23, 2023

LYNNWOOD, WASH. — MSquared has received $54 million in funding for Kōz on Alderwood, a 200-unit apartment development in the Seattle suburb of Lynnwood. Kōz Development is partnering with MSquared on the mixed-income, transit-oriented development. The project is being financed by $35 million in debt from Coastal Community Bank, $13 million in equity from MSquared and $6 million in equity from Kōz Development investors. Construction of Kōz on Alderwood is scheduled to begin in spring 2023, with a planned completion date of early winter 2025.

March 23, 2023

Acquisitions Arizona Healthcare Western

Montecito Buys Banner Health Center in Peoria, Arizona for $29M

by Jeff Shaw March 23, 2023

PEORIA, ARIZ. — Montecito Medical Real Estate has acquired Banner Health Center Peoria, a fully leased, 68,000-square-foot medical building in Peoria, for $29 million. The three-story medical office building features a multi-specialty ambulatory surgery center with three operating rooms, advanced imaging, and primary and specialty care. It is leased on a single-tenant basis to Banner Health. The center is a key outpatient location for Banner Health, serving its patients in the northwest Phoenix metro area. It is less than two miles from the 410-bed Banner Boswell Medical Center. JLL represented the seller, Banner Health, in this transaction. The JLL Healthcare Capital Markets Advisory team consisted of Mindy Berman, Matt Dicesare and John Chun, along with Phoenix market leader Pat Williams.

March 23, 2023

Acquisitions Arizona Industrial Western

CapRock Partners Purchases 130,800 SF Industrial Warehouse in Phoenix

by Jeff Shaw March 23, 2023

PHOENIX — CapRock Partners has purchased a 130,800-square-foot, Class A industrial building in Phoenix for an undisclosed sum. The industrial warehouse facility is located at 5810 W. Buckeye Road in the Loop 202 corridor in the southwest portion of the city. The space is pre-leased to Metrie, North America’s largest manufacturer and supplier of solid wood and composite moulding. Construction on the new industrial building was completed in the first quarter of this year, with Metrie set to take occupancy in the second quarter. Don and Payson MacWilliam of Colliers International is assisting CapRock Partners with the marketing of 5810 W. Buckeye Road. Mark Seale of Avison Young represented Metrie Inc.

March 23, 2023

Acquisitions California Retail Western

Hanley Brokers $2.3M Sale of Single-Tenant Retail Property in Fontana, California

by Jeff Shaw March 23, 2023

FONTANA, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the $2.3 million sale of a single-tenant retail property in Fontana. Dutch Bros Coffee occupies the newly constructed, 871-square-foot property, which is situated within Highland Village Shopping Center, on a triple-net-lease basis. Kevin Fryman, Bill Asher and Jeff Lefko of Hanley represented the seller, Adler Realty Investments, in the transaction. Jeremy McChesney of Hanley represented the buyer, a private investor.

March 23, 2023

Leasing Activity Retail Washington Western

Seven Tenants Sign Leases at Vancouver Mall in Washington

by Jeff Shaw March 23, 2023

VANCOUVER, WASH. — Seven new tenants have signed leases at Vancouver Mall, a shopping center located in Vancouver, just across the Columbia River from Portland, Oregon. Twisted Escape Rooms, Paliy Construction, Mariya’s Touch Boutique and Luxury African Braids have already opened spaces at the property. Lo’u Seie and Quick Bites Deli Shop will open in April of this year, with Smack Town scheduled to join the tenant lineup in May.

March 23, 2023

Leasing Activity Retail Texas

Nordstrom Rack to Open 34,966 SF Store at Northwoods Shopping Center in San Antonio

by Taylor Williams March 23, 2023

SAN ANTONIO — Nordstrom Rack will open a 34,966-square-foot store at Northwoods Shopping Center in San Antonio. Owned by Los Angeles-based CIM Group, the 443,148-square-foot power center is located at the intersection of U.S. Highway 281 and Loop 1604 on the city’s north side. Other retailers at Northwoods Shopping Center include grocer H-E-B, Barnes & Noble, Marshall’s, Ulta Beauty and Old Navy. The opening of Nordstrom Rack is scheduled for September.

March 23, 2023

Newer Posts

Older Posts