TCN netWORKING: TCN Worldwide Deals, Industry News and Highlights

Congratulations to LevRose Commercial Real Estate/TCN Worldwide in Scottsdale and Barclay Street Real Estate/TCN Worldwide in Calgary on this recently completed transaction!

Triumph Real Estate Investment Fund II, a Canadian Investment Fund associated with TCN member firm Barclay Street Real Estate, has acquired 4130 E Van Buren St. Phoenix AZ for $4,400,000. Triumph Real Estate Investment Fund was represented by Keri Davies, Jason Reddington, and Jon Rosenberg of LevRose Real Estate/TCN Worldwide in Scottsdale AZ. The Van Buren acquisition closed on June 30, 2022.

The Van Buren property is composed of 31,475 SF with a lot size of 60,140 SF including 109 parking stalls. The property at the time of closing was over 83% occupied and was purchased at a significant discount to replacement cost, which provides Triumph with a significant value-add opportunity. Learn more here.
 

Strong Demand for Health Services Drives Medical Office Development

Wealth Management Real Estate: There is more than 50 million sq. ft. of medical office development currently in the construction pipeline throughout the United States.

The Benefits of Multi-Tenant Industrial Real Estate

Commercial Real Estate Executive: These properties offer investors flexibility and other positives, according to Farhan Kabani of Four Pillars Capital Markets.

In Spite of Worries About Inflation, Downturn, Retail Leasing Has Thrived This Year

Wealth Management Real Estate: Data from Coresight Research shows store openings are outpacing store closings so far this year. Retail brokers hope leasing trends will stay strong.
 

Signature Associates/TCN Worldwide in Detroit Announced the Completion of Several Recent Industrial Transactions Representing over 1,000,000 SF

Member Deal Announcement: Signature Associates announced the completion of several recent industrial transactions consisting of over 1,000,000 square feet including 2240 Greer Blvd. in Sylvan Lake, MI at 136,000+ square feet and 325 Silverbell Rd in Orion Township, MI at 99,000+ square feet.

Norris & Stevens, Inc./TCN Worldwide Brokers $1.2M Sale in Portland, Oregon

Member Deal Announcement: Henre J Andosca DC recently completed the $1,200,000 purchase of 435 NE Tillamook Street in Portland, Oregon. Constructed in 1946 in an art deco style, this 2,970 SF single-tenancy building was previously used as a warehouse, but will now be converted into offices. Doug Carter with Portland-based Norris & Stevens, Inc. represented the buyer, in the transaction.

Mericle Commercial/TCN Worldwide in Wilkes-Barre, PA Purchases Glen Summit Water Co. Property

Member Deal Announcement: Mericle Commercial Real Estate Services added to its holdings in the Crestwood Industrial Park with the recent purchase of the Glen Summit Springs Water Co. property for $1.25 million. The developer acquired a 10.42-acre parcel in Wright Twp. bounded by Crestwood Drive and Route 437 for $1 million. The property houses Glen Summit’s Mountain Top bottling plant and distribution warehouse. Mericle also obtained a 68-acre parcel on the east side of Route 437 for $250,000.