Colliers completed the $76.8-million sale of a newly constructed Inland Empire West Industrial asset, Almeria Logistics Center. Cabot Properties acquired the 236,129-square-foot property located at 8300 Almeria Ave. in Fontana from seller and developer Transwestern Development Company. It’s fully leased through 2027 to LC Logistics Services.

Colliers’ West Industrial Capital Markets Team, comprised of vice chair Michael Kendall, SVP Gian Bruno, VP Kenny Patricia and associate Kylie Jones, in partnership with vice chairs Thomas Taylor and Steve Bellitti and EVPs Joey Jones and Scott Sanders, marketed the property and led the disposition and acquisition process.

“Even through current market turbulence, Almeria Logistics Center generated a high volume of demand from institutional capital, which is a testament to the strong conviction of Cabot and many of their peers in Southern California’s industrial market over the long term,” said Kendall. “Due to the quality product, location, and tenancy, interest was high, and we’re thrilled with the outcome.”

Senior Vice President Eric Rapp with Transwestern Real Estate Services represented the Kingdom Embassy Worship Center in the organization’s purchase of a church and education facility at 6 Interlachen Road in Hopkins, Minnesota.

6 Interlachen Road was sold by the Parish of Saint Gabriel the Archangel, which was represented by Newmark Senior Managing Director Steve Shepherd. Located in the Southwest Minneapolis suburbs, the 65,535-square-foot property is near major highways, local shops, and restaurants.

“Kingdom Embassy Worship Center is growing, and I’m glad I could assist them find a location that suited the church’s specific and unique needs,” said Rapp. “This is a win for not just my client but the neighborhood, too, which will benefit from having the space filled by a community-focused organization.”

Don’t miss the Lifetime Achievement Award Presentation and Keynote Interview with G. Joseph Cosenza, Vice Chairman of The Inland Real Estate Group, LLC and President of Inland Real Estate Acquisitions, LLC at Connect Midwest: Multifamily, Affordable, Student & Senior Housing Trends on June 4, 2024, at the W-Chicago, City Center Hotel, Chicago, IL. Register Today to network with your peers!

Mintel, a global market intelligence agency, has relocated from a 26,000-square-foot office at 333 W. Wacker Drive in the West Loop to 203 N. LaSalle. Transwestern Real Estate Services represented building ownership on the new 30,000-square-foot lease in the 27-story, 624,724-square-foot office building in Chicago’s Central Loop submarket.

The building owner, Sumitomo Corporation of Americas, was represented by Senior Vice President Kathleen Bertrand, Executive Vice President Eric Myers and Senior Associate John Nelson of Transwestern, which leases and manages the building. Michelle Wiedman of Wiedman Real Estate represented Mintel.

“The space brings great energy and facilitates both quiet and collaborative work, which is essential to how our teams support our clients,” said Ben Dietz, president and general manager of Mintel Americas. The new office is a perfect way to commit, once again, to the city of Chicago.”

203 N. LaSalle is a LEED Platinum tower with amenities including a state-of-the-art conference center, fitness center and multiple tenant lounges.

“We’re excited to welcome Mintel to 203 N. LaSalle. The building is debt-free and in a great location with a full amenity package.”

Transwestern Senior Vice President Kathleen Bertrand

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Transwestern Real Estate Services (TRS) closed the sale of Hudson Medical Center to Hammes Partners, a private investment platform focused exclusively on healthcare real estate.

The seller, Hudson Medical LLC, was represented by Transwestern’s Frank Richie, Mike Salmen, Erik Coglianese and John Huff. Completed in 2023, Hudson Medical Center is a 160,000-square-foot, multi-specialty medical office building and ambulatory surgery center located in a high-growth corridor in Hudson, Wisconsin, within the Minneapolis-St. Paul metropolitan area.

“Although capital markets were disjointed in 2023, the seller capitalized by offering a high-quality product along with excellent tenancy to drive a strong sale price,” said TRS Vice President Frank Richie. “Additional proceeds from an interest rate swap delivered a strong yield for the project as well.”

Featuring an ambulatory surgery center and orthopedic field house, Hudson Medical Center was awarded the 2023 Medical Project of the Year by the Minnesota Real Estate Journal.

Photo courtesy of Brandon Stengel