Property Type

IPA Brokers Sale of 41,191 SF Shasta Orthopedics Medical Office Building in Redding, California

by Amy Works January 25, 2022

REDDING, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of The Shasta Orthopedics Medical Office Building in Redding. Terms of the transaction were not released. Anthony Lunceford, Joe Massa and Michael Grenaway of IPA represented the undisclosed seller and buyer in the deal. Adam Christofferson served as Marcus & Millichap’s broker of record in California. The Shasta Orthopedics Medical Office Building features 41,191 square feet of space and is within a two-mile radius of Shasta Regional Medical Center, Mercy Medical Center Redding and Vibra Hospital of Northern California.

January 25, 2022

Acquisitions Industrial Massachusetts Northeast

Shearwater Cos. Acquires 91,476 SF Industrial Building in Chelmsford, Massachusetts

by Taylor Williams January 25, 2022

CHELMSFORD, MASS. — The Shearwater Cos., an investment firm based in southern New England, has acquired a 91,476-square-foot industrial building in Chelmsford, a northern suburb of Boston. The sales price was $14.8 million. The recently renovated building features a clear height of 27 feet and was fully leased to a subsidiary of medical device provider Teleflex Inc. at the time of sale. Scott Dragos, Chris Skeffington, Doug Jacoby, Anthony Hayes, Roy Sandeman, Tim Mulhall and Dan Hines of CBRE represented the seller, The RAM Cos., in the transaction.

January 25, 2022

Development Illinois Midwest Multifamily Top Stories

Developers to Begin Vertical Construction of 73-Story Apartment High-Rise in Chicago

by John Nelson January 25, 2022

CHICAGO — Co-developers Time Equities Inc., JK Equities and Oak Capitals plan to soon begin vertical construction for 1000M, a 73-story apartment high-rise in Chicago’s South Loop district. Named for its address (1000 S. Michigan Ave.), 1000M will stand 788 feet tall upon completion in 2025, making it one of the tallest apartment towers in Chicago. 1000M was originally conceived as a for-sale condominium tower but during a pause in construction during the COVID-19 pandemic, the co-developers decided to reposition the asset as a rental residential tower. Construction recommenced following a $304.5 million loan from Goldman Sachs and Deutsche Bank Wealth Management, according to various media outlets. The 738-unit apartment tower will offer residences ranging from studios to three-bedroom penthouse units. The development will also feature a golf simulator room, outdoor swimming pool with cabanas, a cookout area and a full-service 73rd floor bar and lounge offering views of the Chicago skyline. In addition, a 325-car parking garage will be concealed behind the apartments. Nearby attractions and venues include Grant Park, Lake Michigan, Soldier Field & Museum, Humboldt Park Formal Gardens, Columbia College Chicago, Hilton Chicago and Trader Joe’s. Helmut Jahn, a world-renowned German architect who was killed last year …

January 25, 2022

Industrial Market Reports Texas Texas Market Reports

Manufacturing Can Play an Unsung Role in Driving Industrial Growth in Dallas

by Taylor Williams January 25, 2022

By Conrad Madsen, SIOR, co-founder and partner, Paladin Partners; and Kipp Collins, partner, Paladin Partners Just 20 years ago, the conventional wisdom and commonly held belief throughout the Dallas commercial real estate scene was that office and retail were preferable sectors to be in versus industrial. Looking back and reflecting on how industrial has gone from ugly duckling to white swan in just 20 short years, we can’t help but be glad that we didn’t take that advice. Led by Amazon, e-commerce has truly changed the world, and certainly industrial real estate by extension. Everyone talks about how e-commerce is what’s driving the explosion of warehouse and distribution center development and absorption across Dallas-Fort Worth (DFW) and beyond. But the fact of the matter is, e-commerce still only accounts for about 14 percent of total retail sales, according to data from the U.S. Census Bureau. Think about that for a moment — the current proportion of 14 percent leaves a tremendous amount of room for additional growth. Demand for warehouse and distribution space is through the roof; developers can’t build warehouses fast enough these days, and yet the market is nowhere close to reaching its peak. Inventory Growth There is …

January 25, 2022

Loans Multifamily Texas

Natixis Provides $118M Acquisition Loan for Metro Houston Multifamily Properties

by Taylor Williams January 24, 2022

STAFFORD, TEXAS — Natixis, a French multinational finance firm, has provided a $118 million floating-rate acquisition loan for a pair of multifamily properties in the southwestern Houston suburb of Stafford. The adjacent properties, which total 931 units, include 1879 at The Grid and Arc at The Grid. Both communities are located within The Grid, a $500 million mixed-use development located at the site of the former Texas Instruments campus. The borrower was an affiliate of Lone Star Funds.

January 24, 2022

Acquisitions Industrial Texas

NAI Robert Lynn Brokers Sale of Two Industrial Buildings Totaling 400,000 SF in Irving

by Taylor Williams January 24, 2022

IRVING, TEXAS — NAI Robert Lynn has brokered the sale of two adjacent industrial buildings totaling approximately 400,000 square feet in Irving. According to LoopNet Inc., the property at 2205-2255 E. Pioneer Drive totals 271,406 square feet, and the building at 600 N. Wildwood Drive spans 133,205 square feet and was built in 1975. Chase Miller and Robert Blankinship of NAI Robert Lynn represented the undisclosed seller and procured the buyer, Dallas-based CanTex Capital, in the transaction.

January 24, 2022

Acquisitions California Retail Western

Brixmor Property Group Purchases Brea Gateway Center Retail Asset in Orange County for $85.7M

by Amy Works January 24, 2022

BREA, CALIF. — Brixmor Property Group has acquired Brea Gateway Center, a grocery- and drug-store-anchored retail center located at 101-407 W. Imperial Highway in Brea. An institutional investor sold the asset for $85.7 million. Brea Gateway Center comprises of 13 parcels on 12.5 acres offering a total of 181,891 square feet of retail space. At the time of sale, the property was 97.9 percent occupied. Current tenants include Ralphs, HomeGoods, Cost Plus World Market, Mattress Firm, Taco Bell and Panda Express. Gleb Lvovich, Bryan Ley, Geoff Tranchina and Daniel Tyner of JLL Retail Capital Markets represented the seller in transaction.

January 24, 2022

California Industrial Loans Multifamily Retail Self-Storage Western

Gantry Arranges $223M in Financing for Seven-Property Mixed-Use Portfolio in California

by Amy Works January 24, 2022

LOS ANGELES — Gantry has secured $223 million in permanent financing for seven properties in California. The portfolio includes three multifamily properties totaling 1,140 units, one single-tenant retail property, one self-storage property, and two unique ground lease financing transactions for land holdings in Northern and Southern California. George Mitsanas of Gantry’s Los Angeles office identified and structured the financing package on behalf of the borrower, a private investor. The loans were placed through four of Gantry’s correspondent life insurance companies at very competitive interest rates with long-term maturities. Gantry will be the loan servicer for each of the seven loans. The portfolio includes: Park Regency Apartments, an 892-unit apartment complex in Walnut Creek Concord Square Apartments, a 167-unit apartment building in Reseda NMS Warner Center, an 81-unit apartment building in downtown Warner Center Sand Canyon Self Storage, a self-storage facility in Santa Clarita with 792 storage units and 129 RV vehicle storage spaces Gelson’s Laguna Beach, a retail property in Laguna Beach fully occupied by Gelson’s A ground lease for a 135,000-square-foot Lowe’s Home Improvement Warehouse, situated on 14.9 acres in Rancho Cucamonga Century City Cooling Plant, the collateral is the free interest of an L-shaped, 1.64-acre parcel of land …

January 24, 2022

Affordable Housing Development Multifamily Texas

NRP Group Breaks Ground on 368-Unit Mixed-Income Housing Project in Killeen, Texas

by Taylor Williams January 24, 2022

KILLEEN, TEXAS — Cleveland-based developer The NRP Group, in partnership with The City of Killeen Public Facility Corp., has broken ground on a 368-unit mixed-income housing project in the Central Texas city of Killeen. About 50 percent of the units will be reserved for households earning 80 percent or less of the area median income. Amenities will include a pool, fitness center, clubroom and a dog park. J.P. Morgan is the equity investor in the project, and Texas Property Bank provided construction financing. Leasing is slated to begin in early 2023, with full completion of the project scheduled for 2024.

January 24, 2022

Acquisitions California Industrial New Mexico Western

Link Logistics, Western Realco Acquire 16.4-Acre Industrial Redevelopment Site in Corona, California

by Amy Works January 24, 2022

CORONA, CALIF. — A partnership between Link Logistics and Western Realco has purchased a 16.4-acre industrial redevelopment site located at 1375 Magnolia Ave. in Corona. Terms of the acquisition were not released. Jeff Chiate, Mike Adey and Brad Brandenburg of Cushman & Wakefield’s National Industrial Advisory Group represented the undisclosed seller in the deal. Rick Ellison and Brett Lockwood of Cushman & Wakefield will handle leasing for the new project. The site has the potential to house two Class A industrial buildings totaling more than 300,000 square feet of warehouse space. Currently, the property consists of multiple older industrial structures originally built in the mid-1990s that would be demolished.

January 24, 2022

Newer Posts

Older Posts