Property Type

Construction Commences on Sierra Lakes Commerce Center in Fontana

by Nellie Day May 26, 2017

FONTANA, CALIF. — Construction has commenced on the 598,000-square-foot Sierra Lakes Commerce Center in Fontana. A joint venture between Trammell Crow Co. and Clarion Partners is developing the Class A speculative logistics center. The space is scheduled for completion in the first quarter of 2018. Fullmer Construction will build the property, which RGA Architecture designed. JP Morgan Chase provided financing for the project. Bill Heim and Michael Chavez of Lee & Associates will lease and market the building.

May 26, 2017

Industrial Washington Western

PCCP, Panattoni to Develop Warehouse Distribution Facility in Lakewood

by Nellie Day May 26, 2017

LAKEWOOD, WASH. — A joint venture between PCCP and Panattoni Development Co. has announced plans to develop a 467,526-square-foot warehouse distribution facility in Lakewood. The project is fully approved and construction has commenced. The facility should be completed in February 2018. Tacoma Gateway will be situated less than a mile from Interstate 5, 35 miles south of Seattle’s CBD and 12 miles south of the Port of Tacoma.

May 26, 2017

Healthcare Texas Uncategorized

Caddis Acquires Medical Office Properties in El Paso, Plano

by Taylor Williams May 26, 2017

EL PASO AND PLANO, TEXAS — Dallas-based healthcare real estate firm Caddis has acquired two medical office properties in El Paso and Plano. The company has purchased George Dieter Medical Plaza, a 15,005-square-foot property located at 1393 George Dieter Drive in El Paso, a transaction for which Capital One provided the acquisition financing. Caddis has also acquired a 21,246-square-foot building located at 5228 W. Plano Parkway in Plano, which is currently leased to Plano Orthopedic Sports Medicine & Spine Center.

May 26, 2017

Loans Multifamily Student Housing Texas

Dougherty Closes $5.5M Acquisition Loan for Student Housing Property in San Marcos, Texas

by Taylor Williams May 26, 2017

SAN MARCOS, TEXAS — Dougherty Mortgage LLC has closed a $5.5 million Fannie Mae loan for the acquisition of Millennium on Post, a 51-unit student housing property in the San Antonio suburb of San Marcos. The property is located at 1651 Post Road, roughly 2.5 miles from Texas State University. Dougherty arranged the 12-year loan through a partnership with Old Capital Lending on behalf of the borrower, 1651 Millennium Post Road LLC.

May 26, 2017

Office Texas

Biel Partners Arranges Sale of 14,000 SF Office Property in Dallas

by Taylor Williams May 26, 2017

DALLAS — Biel Partners has arranged the sale of a 14,000-square-foot office property located at 13748 Neutron Road in Dallas’ Northwest Business District. NoPiers.com, a company that provides home foundation maintenance services, purchased the property and will establish its headquarters within a 5,000-square-foot space beginning this summer.

May 26, 2017

Hospitality Texas

Marcus & Millichap Brokers $1.6M Sale of 86-Room La Quinta Hotel in Channelview, Texas

by Taylor Williams May 26, 2017

CHANNELVIEW, TEXAS — Marcus & Millichap has brokered the $1.6 million sale of an 86-room La Quinta hotel located at 16211 E. Freeway in the eastern Houston suburb of Channelview. Skyler Cooper, Chris Gomes and Allan Miller of Marcus & Millichap represented the seller, a limited liability company and procured the buyer, a partnership. Both parties requested confidentiality.

May 26, 2017

Georgia Office Southeast

Transwestern Corporate Properties to Acquire State Farm Office Tower in Atlanta in Sale-Leaseback Deal

by John Nelson May 26, 2017

DUNWOODY, GA. — Transwestern Corporate Properties I has reached an agreement to purchase Park Center I, a 13-story office tower in Atlanta’s Central Perimeter submarket. Situated on four acres adjacent to the Dunwoody MARTA station, the 602,000-square-foot asset is fully occupied by State Farm Auto Insurance. KDC developed Park Center I, the first office building delivered within State Farm’s three-building, 2.2 million-square-foot campus. Transwestern will purchase the asset for an undisclosed price in a sale-leaseback transaction with State Farm. Transwestern also recently acquired the 2.2 million-square-foot State Farm campus in Richardson, Texas, which was also developed recently by KDC.

May 26, 2017

Georgia Multifamily Southeast

CBRE Brokers $47M Sale of Multifamily Portfolio in Metro Atlanta

by John Nelson May 26, 2017

STOCKBRIDGE, GA. — CBRE has brokered the $47 million sale of a multifamily portfolio in Stockbridge, about 20 miles south of Atlanta. The two adjacent properties, Carrington Ridge and The Retreat at Eagles Landing, total 490 units. Mesa Capital Partners purchased the communities from TIC Properties Management. Shea Campbell, Kevin Geiger and Ashish Cholia of CBRE’s Southeast Multifamily Group represented TIC Properties Management in the sale. Richard Jordan and Matt Forgione of CBRE’s Debt and Structured Finance team arranged acquisition financing on behalf of Mesa Capital Partners.

May 26, 2017

Florida Industrial Southeast

Easton Group Buys New Distribution Center in Metro Miami for $21.8M

by John Nelson May 26, 2017

MEDLEY, FLA. — An affiliate of The Easton Group has purchased a newly built, 182,000-square-foot distribution center in Miami’s Medley submarket for $21.8 million. The affiliate, EWE Airport North Logistics Center LLC, purchased the asset from the developer, Ridge Development, in an all-cash transaction. The Easton Group is handling leasing and management for the property, which is situated on 10 acres at the corner of 87th Avenue and 90th Street, about six miles north of Miami International Airport.

May 26, 2017

Industrial Office Southeast Virginia

Avison Young Arranges $19.9M Sale of Two Flex Buildings in Metro D.C.

by John Nelson May 26, 2017

CHANTILLY, VA. — Avison Young has arranged the $19.9 million sale of two flex buildings in Washington, D.C.’s Dulles South industrial submarket totaling 245,888 square feet. Beckham Gumbin Ventures purchased the buildings from CIM Group. Built in 1986, the assets are located within Sullyfield Business Park at 14320 and 14340 Sullyfield Circle in Chantilly, about 30 miles west of Washington, D.C. John Kevill, Chip Ryan, Bert Harrell and Jesse Martin of Avison Young represented CIM Group in the sale. Sullyfield Commerce Center I was 95 percent leased at the time of sale to seven tenants including Northrop Grumman, and Sullyfield Commerce Center II was 63 percent leased.

May 26, 2017

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