Newmark Grubb Knight Frank’s Fletcher Named Commercial Association of Brokers’ 2011 Industrial Broker of the Year

 PORTLAND, OR — Newmark Grubb Knight Frank  announced that Bradford H. Fletcher (top right photo), SIOR, executive managing director, was named the 2011 Industrial Broker of the Year by the Commercial Association of Brokers (formerly Commercial Association of Realtors) for Oregon and Southwest Washington.

This is the eighth time Fletcher has been recognized as the region’s leading industrial broker. 

 Broker of the Year honors are given to real estate professionals who stand out among their peers, recognizing the highest levels of production in the Portland Metropolitan area. In 2011, Fletcher representing his clients in the lease and sale of nearly 745,000 square feet of property valued at over $36.3 million.

 Included in Fletcher’s impressive resume of transactions were five leases for Nike totaling 351,616 square feet, which represented the market’s largest flex deals.

In addition, he continued his long-standing tenant representation of Intel and IBM, two of Oregon’s most prominent employers, and handled sale and lease transactions for a number of other corporate clients. The significant square footage transacted by Fletcher over a 12-month period resulted in a record drop in vacancy for the Sunset Corridor submarket.

For three decades, Fletcher has been one of the market’s top producers, concentrating on the sale and leasing of industrial, office, mixed use, investment real estate and land for corporate, public, institutional and individual clients worldwide.

A specialist in the high technology sector, he is a member of the Society of Industrial Office Realtors, the Urban Land Institute and a graduate of Dartmouth College.

 Press Contact:

Monica Sparreo

312.698.6709

monica.sparreo@grubb-ellis.com

 

  

Atlanta’s Commercial Real Estate Show Looks at the Success of Student Housing

 ATLANTA, GA (July 3, 2012) – While it may be one of the more low-profile sectors of the commercial real estate market, student housing has quietly been one of the industry’s steady success stories.

 That’s the opinion of host Michael Bull and his guests on the most recent episode of “America’s Commercial Real Estate Show,” which took an enlightening look at the student-housing sector.

 “I think [student housing is] performing very well,” said Jim Arbury (top right photo), president of student housing for the National Multi-Housing Council. “Really, it’s a town-by-town unique experience, but generally speaking, it’s doing very well.”

 Demographics appear to favor the student-housing industry, Arbury added. “We did a study a year ago that showed freshman applications were up 20 percent in spite of the recession,” he said.

Furthermore, “there’s plenty of financing out there for both new development and refinancing of existing properties,” Arbury said.

 One “potential negative on the horizon” is that student-body populations could decrease if more students become leery of assuming a hefty amount of debt to go to school and then graduating into a poor job market, Arbury added.

 Andy Feinour (top left photo), a senior vice president with Carter, echoed Arbury’s observations, noting, “From a national perspective, all the metrics are up. Vacancies are down. Rent growth is up. Net operating income is up.”

“There’s no question that student housing is one of the darlings of the real estate business right now,” Feinour added.

 Dennis Gulseth (middle right photo) a project manager for the BOKA Powell design firm, said modern student housing features many more individual bedrooms and bathrooms than in decades before.

Also, “residence halls we see today in student housing are more like hotels or country clubs … They have spacious hallways, are well-lit. They’ve got all these specialty rooms, lounges, game rooms. It’s quite a different experience from what it used to be,” he said.

 Despite the high level people of interested in providing both equity and debt financing, it can be still be difficult to get student housing deals done, Feinour noted. “Underwriting standards are very high,” he said.

 Other topics discussed included amenities, cap rates and the compressed leasing timeframe for off-campus, privately operated facilities. The entire episode on student housing is available for download at www.CREshow.com.

 The next “America’s Commercial Real Estate Show” will be available July 5 and will feature interviews with the CEOs of leading retail REITs.

Contact:

Stephen Ursery

Wilbert News Strategies

E-mail: sursery@wnspr.com

Office: (404) 965-5026

Cell: (404) 405-2354

www.wnspr.com

George Smith Partners Arranges $15.2 Million in Debt and Equity Financing for a 107-Unit Multifamily High-Rise in Denver, CO

DENVER, CO– Commercial real estate investment banking firm George Smith Partners (GSP) has successfully arranged financing on behalf of its client, Bruckal Properties Inc., for the acquisition and rehabilitation of Wellshire Arms Apartments (top left photo), a 107-unit, upscale multifamily high-rise in Denver, CO, according to Vice President Malcolm Davies (lower right photo).

Davies was assisted by Vice President Michelle Lee in the transaction, which included $10.9 million in debt and $4.3 million in equity.

According to Davies, the financing George Smith Partners secured for its client funded not only the acquisition, but also extensive renovations, which Bruckal Properties will undertake in order to elevate the property to Class A status.

 The senior, non-recourse loan closed at one-month LIBOR +575 with a 6.5 percent floor for 36 months, and included an amortization of 25 years with a two year IO and a 74 percent loan-to-close ratio.

Wellshire Arms Apartments is located at 2499 South Colorado Boulevard in Denver, CO. The 12-story, high-rise apartment complex contains 107 units featuring one-, two- and three- bedroom floor plans and ranging from 800 to 1,500 square feet.

Additional information about George Smith Partners is available at, www.GSPartners.com

For a complete copy of the company’s news release, please contact: 

Corynne Randel/ Judith Brower

Brower, Miller & Cole

(949) 955-7940

Crandel@browermillercole.com

Real Estate Capital Institute’s Scoreboard Finds 10-Year Treasury Notes Drifting

Chicago, IL, July 2, 2012 - Treasury behavior continues a sideways course with the benchmark 10- year note drifting by 15 basis points during the past 30 days.

 The Fed's Operation Twist based upon selling shorter maturity bonds and purchasing longer bonds in full swing as part of the effort to stimulate the economy.

 Interest rate policies are mainly governed by the Eurocrisis and bank rating downgrades as well as China's interest rate cut announcements.  All arrows point to reviving slowing economies throughout the world.

Housing starts provide some positive news on the real estate development front with three months of rising construction permits and slight pricing

gains; the residential real estate market is starting to recover despite the overall US economic slowdown.  

On the other end of the spectrum, while commercial-property sales volume levels are brisk, some firms report lower figures than a year ago, as buyers are cautious and sellers unload more assets into reasonably liquid markets.

Additionally, buyers hunt for values outside core markets, hoping to capture more reasonable yields than in the mid-single-digits.

Since high-quality multifamily assets remain elusive at affordable price levels, new construction multifamily is still "hot". 

Developers target younger renters seeking Class A quality living, rather than homeownership. The trend towards smaller units with significant amenities remains the

target project profile.

Not much news to report for mortgage rates.  In the past month, treasury benchmarks and mortgage spreads stayed within a very tight range. The 5 and 10-year notes moved less than 20 basis points, generally trending downward.

In comparison, overall mortgage rates are nearly 1.5% lower than a year ago. Some life insurance companies are not reducing their rates as the treasuries lower; rather some are imposing floors of 4%, which is still an attractive long term interest rate.         

                                 

The Real Estate Capital Institute's Jeanne Peck (top right photo) observes, "Everything in the debt markets points to a 'wait-and-see' mentality for improving economic conditions.  Let the moderate times roll!  No reason to panic about [mortgage] rates in the near future."

The Real Estate Capital Institute(r) is a volunteer-based research organization that tracks realty rates data for debt and equity yields.  The Institute posts daily and historical benchmark rates including treasuries, bank prime and LIBOR.  Furthermore, call the Real Estate Capital RateLine at 7RE-CAPITAL (773-227-4825) for hourly rate updates.

Contact:

The   Real Estate Capital Institute(r)

3517 West Arthington Street

Chicago, Illinois USA 60624

Contact: Jeanne Peck, Executive Director

director@reci.com

www.reci.com

Georgia Power and Solar Design & Development form alliance on utility-scale solar projects

  

 Atlanta, GA – Georgia Power and Atlanta-based Solar Design & Development (SD&D) have collaborated to develop and install around the state a series of solar projects totaling 19 megawatts (MW) – Georgia Power’s first retail utility-scale solar power development. 

When complete, the projects will more than double Georgia’s solar production. (Georgia Power headquarters building top left photo)

The 19 MW of solar capacity, part of Georgia Power’s 50 MW large-scale solar initiative approved last year by the Georgia Public Service Commission, will be added to the company’s growing renewable energy portfolio. Georgia Power has contracted to purchase the output for the next 20 years.

In addition, Georgia Power awarded SD&D a 1 MW contract under the company’s solar request for proposals (RFP) issued in May 2011.

 Solar resources from this RFP will supply Georgia Power’s subscriber-based Green Energy program, bringing the total capacity in the program to 5.4 MW.

The 1 MW plant on 10 acres in Upson County, Ga., recently became operational and is now providing enough power to supply the electrical needs of approximately 300 homes.

For a complete copy of the company’s news release, please contact:

Georgia Power

Lynn Wallace

(404) 506-7676

www.georgiapower.com

Solar Design & Development

Terri Thornton

(404) 932-4347

Terri@TerriThornton.com

www.TerriThornton.com

Harbor Pointe Apartments in Milwaukee Changes Hands for $27 Million

MILWAUKEE, June 28, 2012– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of Harbor Pointe (top left photo),  a 596-unit multifamily property in Milwaukee. The sales price of $27,050,000 represents $45,386 per unit and $51 per square foot.

Scott Harris,  a senior vice president investments in Marcus & Millichap’s Oak Brook, Ill. office and Matthew Whiteside, (lower right photo), a vice president investments in the firm’s Milwaukee office, represented the seller, a private investment group. Harris and Whiteside also represented the Denver-based buyer.

 “This was a satisfying exchange for both parties in the transaction,” says Harris. “Harbor Pointe is one of the largest multifamily properties in Wisconsin and Milwaukee is one of the strongest rental markets in the country.”

“The property was 95 percent occupied and climbing at the time of the sale,” adds Whiteside. “The new owners have the ability to achieve high cash flows from Harbor Pointe’s current operations.”

The 531,186-square foot property is located at 9200 North 75th St. on Milwaukee’s north side, within walking distance of major retailers, restaurants and hotels.

For a complete copy of the company’s news release, please contact:

Stacey Corso

Public Relations Manager

(925) 953-1716

Jones Lang LaSalle Hires Steve Larsen as Vice President in Phoenix

 PHOENIX, June 25, 2012 – Pursuing expansion opportunity in a key growth market, the Phoenix office of Jones Lang LaSalle has hired Steve Larsen (top right photo) as a Vice President in its industrial brokerage team. Larsen is based in the Southeast Valley and will leverage that presence to widen Jones Lang LaSalle’s geographic footprint and reach new Phoenix-area clients who can benefit from the firm’s extensive global research and service capabilities.

“Steve is very well established in the Southeast Valley,” said Dennis Desmond, Senior Managing Director and head of the Phoenix Jones Lang LaSalle office. “He has earned the trust and respect of clients in these communities, and he will be a great ambassador for this firm as we take our presence in the Southeast submarket to the next level.”

Larsen specializes in industrial building and land sales, leasing and build-to-suits. He develops property marketing strategies and prepares in-depth analysis to maximize and achieve the highest and best use for each project.

Larsen holds a bachelor’s degree in Public Administration from San Diego State University and is a former professional football player for the Chicago Bears.

For a complete copy of the company’s news release, please contact:

Stacey Hershauer

(480) 600-0195

stacey@focusaz.com

Two Cassidy Turley Buildings Win International TOBYs

  

                        Holly Hughes, left, who runs cassidy Turley Atlanta's Property and Facility Management Group, with Kelly Furr, Senior Facility Manager Cassidy Turley. He is assigned to Georgia Power HQ.

                    

 ATLANTA –  Cassidy Turley, a leading commercial real estate services provider in the U.S., said today two Atlanta office buildings it manages won the 2012 International TOBY Awards from the Building Owners and Managers Association (BOMA) International. The awards are the highest level of recognition from BOMA.

BOMA International bestowed The Outstanding Building of the Year (TOBY) designation on the Georgia Power Company headquarters tower (middle right photo)at 241 Ralph McGill Blvd. The landmark tower competed in the Office Building, 500,000 to 1 Million Square Feet category. Piedmont West (lower left photo) at 1800 Howell Mill Road was recognized as the Medical Office Building of the Year.

 “We are deeply honored that BOMA International has selected two Cassidy Turley-managed buildings for the highest-level TOBY Award,” said Holly Hughes, Senior Managing Director of Cassidy Turley in Atlanta. “Cassidy Turley is committed to providing excellent property and facility management to our clients, and these awards are yet more proof we do just that.”

 The awards were announced at BOMA International’s annual conference in Seattle, held from June 24-26. To win the international awards, the Georgia Power Company headquarters and Piedmont West had to first win TOBY awards at the local and regional levels.

 BOMA’s TOBY Awards recognize properties that exemplify superior building quality and management practices. Buildings are evaluated on factors ranging from community involvement and site management to environmental policies and procedures.

 The Georgia Power Building is a 24-story tower with more than 853,000 square feet of office space. Piedmont West is a 10-story medical office building with 264,000 square feet of office and ground-level retail space.

 Cassidy Turley’s property and facility management portfolio in metro Atlanta contains 20 million square feet. 

  

Public Relations Contacts:

Stephen Ursery

Wilbert News Strategies

E-mail: sursery@wnspr.com

Office: (404) 965-5026

Cell: (404) 405-2354

www.wnspr.com

Tony Wilbert

Wilbert News Strategies

404-965-5022

twilbert@wnspr.com



Parkway Announces Several Notable Leases

  

ORLANDO, FL /PRNewswire/ -- Parkway Properties, Inc. (NYSE: PKY) announced it has signed a total of 33,000 square feet of new and expansion leases at Peachtree Dunwoody Pavilion (top left photo) in Atlanta, GA, backfilling approximately 37% of the previously announced space that will be vacated by Cox Communications on June 30, 2012. 

This leasing activity consists of a 23,000 square foot new lease signed with CBS Broadcasting Inc. that expires January 31, 2023, and a 10,000 square foot expansion by a major national health insurance carrier that expires April 30, 2016, which is coterminous with its existing lease at the property. 

Parkway also signed a 13,000 square foot new lease at Hearst Tower (middle right photo), Parkway's most recent acquisition located in Uptown Charlotte, with Dixon Hughes Goodman LLP that commences July 1, 2012, and extends through June 30, 2017. 

Additionally, the Company signed a five-year new lease for 35,000 square feet with AT&T Services, Inc. at 111 Capitol Building in Jackson, MS, and an 85,000 square foot renewal at Bank of America Plaza in Nashville, TN with Louisiana-Pacific Corporation, representing a 79-month extension beyond its existing expiration. 

"We continue to make meaningful progress towards our goal of improving portfolio occupancy," stated Jayson Lipsey (lower left photo), Chief Operating Officer of Parkway Properties. 

"We have anticipated the loss of Cox Communications at Peachtree Dunwoody Pavilion, and the leasing efforts of our Atlanta team have mitigated the impact of that vacancy by backfilling 37% of the space before its expiration. 

“We are also encouraged to see strong interest in our recently acquired Hearst Tower, which is now over 95% leased.  Our leasing velocity remains steady in our markets, which should help us gain traction in occupancy over the next several quarters given our minimal near-term lease expirations."

  Parkway owns or has an interest in 42 office properties located in 10 states with an aggregate of approximately 10.7 million square feet of leasable space at June 6, 2012.  Fee-based real estate services are offered through wholly-owned subsidiaries of the Company, which in total manage and/or lease approximately 12.2 million square feet for third-party owners at June 6, 2012.

Contact:

Thomas E. Blalock

Vice President of Investor Relations

(407) 650-0593  

Web Site: http://www.pky.com/

Sustainable Banking’s Influence Grows

 Mount Dora, FL. / Minneapolis, Minn/ Canada --The Global Alliance for Banking on Values (GABV), an independent network of the world's leading values-based banks welcomes three new members, all from North America; Canada’s Affinity Credit Union, Florida’s environmental pioneers, First Green Bank, and community-development focused and Minneapolis-based, Sunrise Community Banks.

The network believes the success of its growing membership highlights how a brand of banking that balances people, planet and prosperity is becoming increasingly relevant to the future of the financial industry.

 

 “It is a great pleasure to announce that these three groundbreaking financial institutions are joining the GABV,” said Peter Blom (top right photo) GABV chairman and chief executive officer of European sustainable bank, Triodos Bank.

 “First Green, Affinity and Sunrise banks are the latest progressive financial institutions to join our expanding network of independent banks. The success of banks like these is increasingly at the heart of the urgent debate about how to build a resilient financial industry capable of serving all of our long-term interests.”

For more information on the GABV, visit www.gabv.org.

For a complete copy of the company's news release, please contact:

Tina Merrifield                                                

Affinity Credit Union                                      

tina.merrifield@affinitycu.ca                         

306.934.4083 or 306.221.9109                      

 Ken LaRoe                                                     

First Green                                                     

Ken@FirstGreenBank.com                           

352-483-9100        

James Niven  

GABV

 james.niven@gabv.org    

+31 30 694 2421

 +31 6 5390 8150    

Nikki Foster

Sunrise 

nikki.foster@sunrisebanks.com

Chance Partners and The Carlyle Group Break Ground on Mixed-Use Development at Florida State University

TALLAHASSEE, FL  /PRNewswire/ -- Chance Partners, LLC and The Carlyle Group today held a groundbreaking ceremony in conjunction with the Community Redevelopment Agency of the City of Tallahassee for Catalyst, a mixed-use development near Florida State University (top left photo).

 The project will include approximately 3,500 square feet of ground floor retail and a 130-unit student housing project that is scheduled for initial occupancy for the Fall 2013 semester. This is the first joint-venture between the two companies.

Catalyst will feature 402 beds with a mix of unit types from 1 bedroom up to 4 bedroom units.  Each unit type will offer private bathrooms for every bedroom; gourmet kitchens, expansive living areas; hardwood-style flooring; ample closet space and full-size washers and dryers.

 This student housing community will have a full suite of premium amenities including a large clubhouse, pool, roofdeck, multiple study lounges and a fitness center

The two firms formed their partnership out of their shared vision for the student-housing sector, according to Judd Bobilin (middle right photo) of Chance Partners. "Students in Tallahassee will be the first to experience a truly walkable, world-class community that will be noted for its creativity, quality and impact on the revitalization of the Southgate District," Bobilin added.  

  

Community & Southern Bank is providing the construction financing and Hathaway Construction is the project general contractor for the project.  Catalyst will be managed by Asset Campus Housing, Inc. and more information can be found at.

For a complete copy of the company’s news release, please contact:

Christopher Kritzman,

 +1-404-861-8063,

ckritzman@chance-partners.com; or

 Liz Gill, Elizabeth.

gill@carlyle.com

Web Sites:

 http://www.Chance-Partners.com/

www.carlyle.com

www.catalystfsu.com

.

Marcus & Millichap Arranges Sale of Crescent Lake Apartments in St. Petersburg, FL

  

ST. PETERSBURG, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Crescent Lake (top left photo), a 50-unit multifamily property located in St. Petersburg, according to Richard D. Matricaria, Regional Manager of the firm’s Tampa office. The asset commanded a sales price of $1,825,000.

Michael Donaldson (lower right photo), a senior multifamily associate in Marcus & Millichap’s Tampa office, sold the property on behalf of the locally based seller and the Louisiana-based buyer, both private investors. 

“This offering was a collection of over 50 units in various older vintage buildings surrounding picturesque Crescent Lake Park, a prime location in St. Petersburg,” says Donaldson.

 “All of the interiors had been extensively renovated, with several units offering lake views, making these units highly desirable to tenants. Being able to achieve consistently high occupancy levels and continued rent growth in a strong location, made this property truly appealing to the buyer,” adds Donaldson.

Crescent Lake Apartments is a portfolio of 50 units located at 1801 5th Street North in St. Petersburg, Florida.

Press Contact:

 Richard D. Matricaria

Regional Manager,

Tampa, FL

(813) 387-4700

Arbor Funds $14.5M FHA-Insured Loan for Louisiana Historic Preservation

UNIONDALE, NY - Arbor Commercial Mortgage, LLC, a leading, direct commercial real estate lender, announced the recent funding of a $14,515,000 FHA-insured 221(d)(4) loan for the development of Mason Estates (top left photo), a 169-unit apartment project in Alexandria, LA, that encompasses the adaptive re-use and historic preservation of the former Masonic Home orphanage.

Originally built in the 1920s by the Freemasons, the three-story Masonic Home orphanage is listed on the National Register of Historic Places.  It had sat dormant for the past 20 years until developer Roger Landry saw an opportunity to redevelop the historic property into a multifamily housing complex.

 The ongoing project is incorporating the conversion of the Masonic Home into 25 loft units as well as the new construction of six additional buildings housing another 144 apartment units.

 “After years of planning and collaborative input from the community, we are proud to breathe new life into the Masonic corridor,” said Landry, a Louisiana native with a track record for successful historic rehabilitation projects.

“Arbor’s role in funding this historic rehabilitation of the Masonic Home for modern day use, as well as the new construction component of the project, may also help spur new development and economic growth in the area.”

Landry and his development team have been working closely with the Louisiana Trust for Historic Preservation to maintain the architectural details of the Masonic Home’s historic structure, which features 20-foot ceilings in some units. The project is scheduled for completion and occupancy in the summer of 2013.

 “The Mason Estates transaction demonstrates Arbor’s position as a premier FHA MAP Lender across the United States and exemplifies our commitment to serve a growing demand for FHA financing among small to mid-size borrowers in small to mid-size markets,” said Joseph Donovan (middle right photo), Arbor’s Senior Vice President, Director of FHA Lending.

 “We worked successfully with the U.S. Department of Housing and Urban Development’s (HUD) New Orleans office on this project, so we thank them for their efforts.”

The loan was originated by Jay Porterfield (middle left photo), Vice President, in Arbor’s Plano, TX, office. Porterfield noted that Arbor was pleased to have a very experienced development team as a partner in this transaction.

Contact:  Christopher Ostrowski, costrowski@arbor.com

The Easton Group Sells Former Cordis Property in Miami Lakes for $14.3 Million

 Doral, FL – The Easton Group, a Miami-based commercial real estate investment and brokerage firm, through a joint venture, sold the Miami Lakes Research & Industrial Park (top left photo) in Miami Lakes, Florida, for $14.3 million, or $49 per square foot.

The buyer is the Graham Companies, which originally developed the property. The sale included eight buildings on the 27-acre R & D manufacturing campus located at 14400-14560 NW 60th Avenue.

A year-and-a-half ago, The Easton Group, and its partner, Marcus Capital Partners Fund I of Boston, Massachusetts, purchased the asset, which was comprised of 11 buildings totaling 394,000 square feet, from the Cordis Coporation for $8.1 million dollars, or $20 per square foot.

Last year, the joint venture sold three of the buildings to Fonga, LLC for $4.6 million, and has now sold the remaining eight buildings to the Graham Companies for $14.3 million.

“This deal is a typical example of how we add value to real estate for our investors,” said Edward W. Easton (middle right photo), chairman of The Easton Group.  “We made a good buy on the property, secured a long-term tenant, made improvements and positioned the property for a lot of upside on the sale.” 

The campus is nearly 50 percent occupied by one tenant, HeartWare, Inc., a publicly traded bio-medical device company that has a long-term lease.  Just over 130, 000 square feet of space remain vacant.

 Contact:

Todd Templin

Boardroom Communications

ttemplin@boardroompr.com

954-370-8999

Voit Completes 500,000-SF Industrial Lease Renewal for Global Tire Manufacturer in Redlands, CA

INLAND EMPIRE, CA– Frank Geraci, Walt Chenoweth (middle right photo), Juan Gutierrez (lower left photo) and Patrick Wood of Voit Real Estate Services’ Inland Empire office have completed a 24-month, 497,714 square-foot industrial lease renewal in Redlands, Calif. on behalf of the lessee, Continental Tire North America.

Continental Tire, a global manufacturer and distributor of performance tires, has fully occupied this industrial property since 2009, and will continue to use the property for its North American operations, according to Geraci, an Executive Vice President in Voit’s Inland Empire office.

“This renewal is an example of how important it is to be forward-thinking in our industry,” explained Geraci.  “Our team completed the initial 42-month lease of this building on behalf of Continental Tire in 2009. 

“At the time, we anticipated that the Inland Empire industrial market would improve.  With this in mind, we proactively negotiated a renewal option for our client, giving them an opportunity to extend their lease under pre-negotiated terms.”

The market has improved as expected, according to Geraci, who noted that the inventory of large industrial buildings in the Inland Empire continues to rapidly decline, while rental rates are progressively increasing.

“As we examined the current market, we advised our client to take advantage of the renewal option, locking in below-market rates for an additional two years,” said Geraci.

This property, located at 27223 Pioneer Ave (top left photo). in Redlands, Calif., is close to the I-10, I-210 and I-215 freeways.  The lessor, Prologis, a global REIT, represented itself in the transaction. 

  Contact:

Jenn Quader/Judith Brower

Brower, Miller & Cole

(949) 955-7940

JQuader@browermillercole.com