Net Lease

Brentwood, TN-based GBT Realty Corporation, which developed the properties over the past two years, sold the portfolio to a Virginia-based, private investment group that was completing a sizable 1031 exchange.

The newly created partner program provides an opportunity for the firm's largest producers to be recognized and rewarded for outstanding contributions as well as dedication to company growth.

Its US Cities Industrial fund has raised $660 million to buy industrial properties in select US cities.

Proposition D was approved yesterday and it authorizes a vacant property tax on ground-floor commercial space in certain commercial districts with revenues dedicated to assisting small businesses.

The portfolio consists of more than 1.9 million square feet of space across 11 of the 19 Chicago submarkets. Capital One provided the debt financing for the acquisition. Venture One will continue to manage the portfolio.

The acquisition includes Bloomfield Business Park, which consists of 16 multi-tenant warehouse/flex buildings and five multi-tenant buildings along Commerce Lane in the Commerce Lane Business Park.

More than 70% of single-tenant net lease transactions were priced less than $10 million last year, says Josh Campbell, senior vice president at Stan Johnson Company, in this EXCLUSIVE.

Retail rents are strong in Los Angeles, but despite the positive trends, the vacancy rate continues to climb.