Property Type

Trammell Crow, CBRE Break Ground on Spec 606,343 SF Logistics Center in Tracy, California

by Amy Works January 21, 2022

TRACY, CALIF. — A joint venture between Trammell Crow Co. and CBRE Investment Management, on behalf of one of its investment funds, has broken ground on Tracy 205 Logistics Center, a logistics facility in the Northern California city of Tracy. Slated for completion in late 2022, the cross-dock building will feature 606,343 square feet of speculative industrial space with 40-foot clear heights, 185-foot truck courts, 56-foot by 60-foot column spacing, LED and sky lighting and an ESFR system. The project team includes HPA Architecture, Kier & Wright and Big D Pacific Builders. Tom Davis, Bob Taylor and Dan Davis of CBRE Central Valley will lead leasing efforts for the project.

January 21, 2022

Illinois Loans Midwest Mixed-Use

ACRES Provides $30.5M Acquisition Loan for Development Site in Chicago’s Fulton Market

by Kristin Harlow January 21, 2022

CHICAGO — ACRES Capital Corp. has provided a $30.5 million loan for the acquisition of a 19-acre parcel located at 1200 Fulton St. in Chicago’s Fulton Market. The borrower, Fulton Street Cos., plans to develop the site into two office and retail buildings totaling 749,250 square feet as well as a 380-unit apartment tower. Steve Skok of Berkadia arranged the loan, while Justin Seitenbach of ACRES originated the loan.

January 21, 2022

Acquisitions Healthcare Industrial Midwest Minnesota

CBRE Brokers $14.8M Sale of Medical Office, Industrial Building in St. Paul

by Kristin Harlow January 21, 2022

ST. PAUL, MINN. — CBRE has brokered the sale of University Crossing in St. Paul for $14.8 million. The 84,150-square-foot medical office and industrial technology building is located at 2200 University Ave. The fully leased property was built in 1990. Judd Welliver, Sonja Dusil, Ryan Watts, Bentley Smith and Tom Holtz of CBRE represented the seller, Essjay Investments Co. LLC. Capital Partners LLP was the buyer.

January 21, 2022

Hilton-Garden-Inn-Denver-Airport-Aurora-CO

Acquisitions Colorado Hospitality Western

Marcus & Millichap Arranges $27.5M Sale of Hilton Garden Inn Denver Airport

by Amy Works January 21, 2022

AURORA, COLO. — Marcus & Millichap has brokered the sale of Hilton Garden Inn Denver Airport, a hospitality property located at 16475 E. 40th Circle in Aurora. The hotel traded hands for $27.5 million. The names of the seller and buyer were not released. Hilton Garden Inn Denver Airport features 157 guest rooms. The seller completed a renovation of the guest rooms in 2021, and the buyer plans to renovate the lobby and public areas in early 2022.

January 21, 2022

Michigan Midwest Office

Oxford Cos. Launches Equity-for-Rent Office Program for Startup Companies in Ann Arbor

by Kristin Harlow January 21, 2022

ANN ARBOR, MICH. — Oxford Cos. has launched the Oxford Instant Office Simple Agreement for Future Equity (OXIO SAFE) program aimed at helping Ann Arbor startups utilize office space with minimal upfront costs. Oxford says the program will provide a pathway for startups to lease office space without the significant financial risk that comes with entering a traditional commercial real estate lease. Qualified startups can receive up to one year of rent in exchange for a simple agreement for future equity. Open to startups that are currently working with a local incubator or economic development organization in the area, OXIO SAFE leases are available for six to 12 months for move-in ready office suites. Ann Arbor is home to one of the fastest growing startup hubs in the nation, according to Desai Accelerator, a professional business accelerator created in partnership with the University of Michigan. Oxford Cos. is a fully integrated real estate company offering services in property management, commercial and residential leasing, commercial construction and investments.

January 21, 2022

Acquisitions California Industrial Western

Paceline Divests of Light Industrial Building in San Francisco for $19.3M

by Amy Works January 21, 2022

SAN FRANCISCO — Paceline Investors has completed the disposition of 1270 Bush Street, a light industrial property in San Francisco. Sterling Organization acquired the asset for $19.3 million. Situated on a 18,906-square-foot lot, the 38,000-square-foot building is zoned for a wide range of residential and commercial uses. Mark Geisreiter, Seth McKinnon and Nadav Kariv of Newmark represented the seller and Florida-based buyer in the deal.

January 21, 2022

Acquisitions California Net Lease Retail Western

Hanley Investment Brokers $8.5M Sale of Smart & Final-Occupied Property in Murrieta, California

by Amy Works January 21, 2022

MURRIETA, CALIF. — Hanley Investment Group Real Estate Advisors has negotiated the sale of a single-tenant retail property located in Murrieta. A San Diego-based private partnership sold the building to Los Angeles-based Anza Drive Properties for $8.5 million. Smart & Final Extra occupies the 20,750-square-foot property, which is situated at the intersection of Madison Avenue and Los Alamos Road, on a net-lease basis. The building was built in 2003. Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, while Kris Hons of Glendale, Calif.-based Stevenson Real Estate Services represented the buyer in the transaction.

January 21, 2022

Acquisitions Illinois Midwest Retail

Marcus & Millichap Arranges $6.5M Sale of Walgreens-Occupied Property in Suburban Chicago

by Kristin Harlow January 21, 2022

ROMEOVILLE, ILL. — Marcus & Millichap has arranged the sale of a Walgreens-occupied property in the Chicago suburb of Romeoville for $6.5 million. The 24-hour store is positioned at the entrance to Carillon, a master-planned retirement community. Brian Parmacek and Mitchell Kiven of Marcus & Millichap marketed the property on behalf of the seller, a developer. Benjamin Kohl of Marcus & Millichap secured and represented the buyer, an out-of-state private investor. Frank Montalto and Dean Giannakopoulos of Marcus & Millichap Capital Corp. obtained acquisition financing on behalf of the buyer.

January 21, 2022

Development Industrial Texas

TDB Land Holdings to Develop 7.5 MSF Industrial Park in Laredo, Texas

by Taylor Williams January 21, 2022

LAREDO, TEXAS — An entity doing business as TDB Land Holdings Ltd. has acquired a 683-acre vacant site in the Rio Grande Valley city of Laredo for the development of a 7.5 million-square-foot industrial park. The development, which will be branded World Industrial Park, will be located along Interstate 35. Andrew Brittingham of Coldwell Banker Commercial represented the buyer in the sale of the land. The land seller and sales price were not disclosed.

January 21, 2022

Acquisitions Industrial Self-Storage Texas

SkyView Advisors Arranges Sale of 881-Unit Self-Storage Facility in Metro Dallas

by Taylor Williams January 21, 2022

CARROLLTON, TEXAS — Tampa-based self-storage brokerage firm SkyView Advisors has arranged the sale of an 881-unit facility in the northern Dallas suburb of Carrollton that is operated by Life Storage. The property spans 90,656 net rentable square feet. Zachary Urow and Ryan Clark of SkyView Advisors represented the undisclosed seller in the transaction. Additional terms of sale were not disclosed.

January 21, 2022

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