RESTON, VA. — Comstock Holding Cos. Inc. has signed FM Global, an international commercial property insurance and loss prevention firm, to a 32,000-square-foot office lease in Northern Virginia. The tenant will occupy space at 1906 Reston Metro Plaza, an office building within the 90-acre Reston Station mixed-use development. FM Global is joining other Reston Station tenants including Google, ICF International and Spotify. Last month, Comstock signed CARFAX to lease 87,000 square feet at 1906 Reston Metro Plaza, which will serve as the automobile history reporting platform’s corporate headquarters.
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Trammell Crow Co., Realty Income to Develop 655,200 SF Industrial Facility for Home Depot in Stockton, California
by Amy Works
STOCKTON, CALIF. — Trammell Crow Co., in a joint venture with Realty Income Corp., has broken ground on an industrial build-to-suit facility in Stockton for The Home Depot. Located at 320 McCloy Ave., the 655,200-square-foot property is slated for delivery in 2026. MacGregor Associates is the architect of record and Arch-Con Corp. is serving as the general contractor. Tyson Vallenari of Cushman & Wakefield and Tom Davis of CBRE represented the Port of Stockton and Trammell Crow Co., respectively, in the ground lease.
Landmark Properties, Stockbridge Recapitalize Student Housing Community Near University of Central Florida
by John Nelson
ORLANDO, FLA. — Landmark Properties has partnered with Stockbridge to recapitalize The Retreat East, a 602-bed student housing development located near the University of Central Florida campus in Orlando. Landmark delivered the cottage-style property in 2021 at 1705 France Drive. The community offers four-, five- and six-bedroom, fully furnished units with bed-to-bath parity. Shared amenities include a two-story fitness center, 24-hour computer lab, group and private study lounges, a resort-style swimming pool and hot tub, grilling area, hammock and cabana grove, an outdoor gaming lawn and a clubhouse. This marks Landmark Properties’ second transaction with Stockbridge following the acquisition of The Retreat Tampa in late November.
Stockdale Capital Partners Acquires 83,789 SF MarinHealth Medical Plaza in Novato, California
by Amy Works
NOVATO, CALIF. — Stockdale Capital Partners has acquired The MarinHealth Medical Plaza (MHMP), located at 75 Rowland Way in Novato, for $32.8 million. The name of the seller was not released. Built in 1997 and renovated in 2017, the 83,789-square-foot property is anchored by MarinHealth, which leases 72,888 square feet (90 percent) of the building. Adjacent to Sutter Health’s Novato Community Hospital, tenants of MHMP include clinical specialties, primary care, OBGYN, imaging, laboratory, family medicine, cardiovascular and dermatology. The purchase is Stockdale Capital Partners’ sixth acquisition of its recently formed, U.S.-focused, open-ended Healthcare Real Estate Investment Fund.
Conor, Dayton Street Partners Complete 1.1 MSF Industrial Center in Stockton, California
by Amy Works
STOCKTON, CALIF. — The co-development team of Conor Commercial Real Estate and Dayton Street Partners, along with an affiliate of Heitman as a partner, has completed the 1.1-million-square-foot Central Industrial Center in Stockton. Situated on a 56-acre infill site, Central Industrial Center consists of three speculative industrial buildings. The 135,200-square-foot, front-load Building 1 features 32-foot clear heights, 50- by 52-foot column spacing, 28 dock doors, two drive-in doors, 76 parking spaces and 24 trailer stalls. The 121,680-square-foot, front-load Building 2 offers 32-foot clear heights, 50- by 52-foot column spacing, 25 dock doors, two drive-in doors, 76 parking spaces and 26 trailer stalls. The 833,280-square-foot Building 3 features a cross-dock configuration with 40-foot clear heights, 50- by 60-foot column spacing, 141 dock doors, four drive-in doors, 310 parking spaces and 198 trailer stalls. All three buildings offer skylights, ESFR sprinklers, high-capacity natural gas and electrical infrastructure, 60-foot speed bays and offices. Each building is designed to accommodate a multi-tenant configuration as small as 60,000 square feet. McShane Construction Co. provided design-build services and Ware Malcomb provided construction and architectural services for the project.
PHILADELPHIA — Stockton Real Estate Advisors has negotiated the sale of 1760 Market Street, a 126,000-square-foot office building in downtown Philadelphia. The building offers a tenant lounge and conference center, as well as indoor bike storage space. Stockton previously co-owned the building and repositioned the asset for sale in 2018 via renovation of the penthouse suite, which now features private rooftop decks and mezzanine space, as well as the introduction of new building systems. The buyer and seller were not disclosed.
FORT WORTH, TEXAS — The Fort Worth City Council has approved a $630 million proposal to expand the historic Stockyards District, according to reports from multiple local news sources such as The Dallas Morning News, Fox4 KDFW and The Texan. According to the local Fox News affiliate, the proposal represents part of a larger, $1 billion expansion and would include both multifamily and hospitality components, as well as onsite parking. Axios Dallas reports that on a more specific level, the next phase of expansion will feature 500 hotel rooms, 300,000 square feet of commercial space and a 295-unit multifamily property. The Texan reports that the expansion would be led by Fort Worth Heritage LLC, which is a joint venture between California-based Majestic Realty Co. and Hickman Cos, with North Texas-based M2G Ventures also serving as a development partner. Multiple news outlets reported that the City of Fort Worth expects the expansion of the Stockyards District, which will include some public funding and is expected to be fully complete by 2032, to ultimately generate more than $400 million in fresh tax revenue.
AUSTIN, TEXAS — Los Angeles-based investment firm Stockdale Capital Partners has acquired a five-story, 129,382-square-foot medical office building in Austin’s Mueller District. According to LoopNet Inc., the building at 1401 Philomena St. was originally constructed in 2022. The property also includes an attached 559-space parking garage. The seller and sales price were not disclosed.
STOCKTON, CALIF. — Marcus & Millichap has brokered the $1.1 million sale of a retail building in Stockton, located in California’s Central Valley. Located at 3750 West Lane, the property features 14,000 square feet of retail space. Dominic Mazzoni and Edward Nelson of Marcus & Millichap represented the Idaho-based individual/personal trust seller, while Chris Sill of Lee & Associates procured the buyer, a private investor, in the deal.
WOODSTOCK, GA. — SRS Real Estate Partners has brokered the $3 million ground lease sale of a newly built restaurant property located at 9893 Highway 92 in Woodstock, about 30 miles northwest of Atlanta. Raising Cane’s occupies the property on a 15-year, corporate guaranteed lease. Michael Berk, Patrick Nutt and William Wamble of SRS represented the seller, Brentwood, Tenn.-based Warren Commercial Real Estate, in the transaction. The buyer was a private investor based in California.