Transaction Highlights: April 2023

A coast-to-coast roundup of noteworthy office and industrial deals.

I-10 Logistics Center. Image courtesy of Shopoff Realty Investments

I-10 Logistics Center. Image courtesy of Shopoff Realty Investments

SALES

PropertyAsset TypeLocationBuyerSellerNotes/Arranged ByValueDate Announced
Sierra Business Park – Building 5IndustrialFontana, Calif.Rexford IndustrialTireco –$365 Million30-Jan.
I-10 Logistics CenterIndustrialBeaumont, Calif.Brookfield PropertiesShopoff Realty Investments, Artemis Real Estate PartnersCBRE brokered the deal.$329 Million27-Jan.
Fifteen LaightOfficeNew York, N.Y.HyundaiVanbarton GroupNewmark arranged the transaction.$274 Million15-Feb.
2020 Piper Ranch RoadIndustrialSan Diego, Calif.LaSalle Investment ManagementAres ManagementCushman & Wakefield represented the seller.$127 Million27-Jan.
1065 Cranbury South River RoadIndustrialSouth Brunswick, N.J.Morgan StanleyIDI Logistics –$102 Million23-Jan.
2575 Route 206IndustrialEastampton, N.J.Glendale Warehouse and DistributionRockefeller Group –$83 Million24-Jan.

FINANCING

PropertyAsset TypeLocationType of FinancingLenderArranged ByBorrower / NotesAmountDate Announced
30-property portfolioIndustrialNationalRefinancingComputershare– Brookfield Properties$550 Million15-Feb.
National portfolioIndustrialNationalRefinancingGoldman Sachs –Stonemont Financial Group$541 Million15-Feb.
Multi-state portfolioOfficeNationalRefinancingTIAAJLLAdler Real Estate Partners$193 Million23-Jan.
InnoLabsOfficeLong Island City, N.Y.RefinancingACORE Capital –GFP Real Estate$114 Million15-Feb.
The Gateway at WynwoodOfficeMiami, Fla.RefinancingA10 Capital –R&B Realty Group$113 Million15-Feb.
Kemble Plaza IOfficeMorristown, N.J.RefinancingValley National Bank –Onyx Equities$85 Million27-Jan.

To have your transaction featured, submit details to Agota Felhazi at agota.felhazi@yardi.com.

Read the April 2023 issue of CPE.