Transaction Highlights: May 2023

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

Avia Labs at Millbrae Station. Rendering courtesy of Longfellow Real Estate Partners

Avia Labs at Millbrae Station. Rendering courtesy of Longfellow Real Estate Partners

SALES

PropertyAsset TypeLocationBuyerSellerNotes/Arranged ByValueDate Announced
Owens Corning PlantIndustrialSanta Clara, Calif.AmazonOwens Corning –$238 Million7-Mar
2000 Galloping Hill RoadOfficeKenilworth, N.J.Onyx Equities, Machine Investment GroupMerckJLL represented the seller in the sale-leaseback transaction.$188 Million1-Mar
Richmond Distribution Center IIIIndustrialRichmond, Calif.Reyes HoldingsAres Management Colliers and JLL arranged the deal.$140 Million3-Mar
100 Jefferson RoadIndustrialParsippany, N.J.J&J Farms CreameryJFR Global Investments –$131 Million15-Mar
South Lake at Dulles CornerOfficeHerndon, Va.Vision PropertiesGriffin Realty Trust –$110 Million2-Mar
Campanelli Business Park – 64 Leona DriveIndustrialMiddleborough, Mass.Lincoln Property CompanyChristmas Tree Shops –$105 Million21-Feb
San Felipe PlazaOfficeHouston, TexasSovereign PartnersParkway Properties –$89 Million22-Feb

FINANCING

PropertyAsset TypeLocationType of FinancingLenderArranged ByBorrower / NotesAmountDate Announced
Avia Labs at Millbrae StationOfficeMillbrae, Calif.ConstructionOtera CapitalJLLLongfellow Real Estate Partners$310 Million1-Mar
600 Third Ave.OfficeNew York, N.Y.RefinanceCredit Agricole Corporate & Investment Bank –BlackRock$160 Million6-Mar
Four-Property PortfolioIndustrialNationalRefinanceCitibank –Malouf$157 Million10-Mar
Bridge Point I5 – Building 1IndustrialMilton, Wash.ConstructionHeitman –Bridge Industrial$135 Million28-Feb
31 West 27th St.OfficeNew York, N.Y.RefinanceAareal Bank AG –Savanna$100 Million8-Mar
College Point Logistics CenterIndustrialCollege Point, N.Y.ConstructionAllianz –Wildflower$94 Million17-Mar

To have your transaction featured, submit details to Agota Felhazi at [email protected].

Read the May 2023 issue of CPE.

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