NEWS
Tower Investments Buys 32,040 SF Caltronics flex building in Sacramento, CA
Tower Investments is pleased to announce the purchase of the Caltronics Building property located at 10491 Old Placerville Road in Sacramento, California. The 2.93-acre property includes one 32,040 sq.ft. flex building that is 100% leased to Caltronics Business Systems. Caltronics has been in business since 1975 and is the leading provider of advanced digital copiers, high-speed color printers and copiers, multifunctional devices and fax and scanning systems in the state.
The property is located within the Mather industrial sub-market located adjacent to the Mather Commerce Center and Mather Airport. The former Mather Air Force Base, Mather Commerce Center and Mather Airport is one of the largest business parks in the Sacramento region and has been identified as one of the most successful base conversions in the country.
Lower Broadway parking lot sells for $9.4M
A Lower Broadway parking lot sitting next to the building home to Merchants has sold for $9.4 million in a deal that is believed to have set a per-foot record for a downtown real estate land transaction.
The transaction involving 405 Broadway is the equivalent of about $1,350 a foot. Previous highs for the sale of downtown commercial buildings and parking lots rarely have eclipsed $1,000 per foot.
Located in what is called The District, the 0.16-acre parcel is L-shaped, allowing for a potential development that could have a building fronting Broadway and another facing Fourth Avenue South. Its new owner is an entity affiliated with Nashville-based Big Plan Holdings, which invests in real estate, the music/entertainment sector, branding and licensing concerns, and cannabis. Josh Joseph, Big Plan Holdings' founder and CEO, said his team is formulating a plan to develop the site with one building of about 30,000 square feet.
Tower Investments Buys 100,000 SF industrial facility in Oklahoma City, OK
Tower Investments is pleased to announce the purchase of the Oklahoma Industrial Park Building located at 2013 SE 18th Street in Oklahoma City, Oklahoma. The 4.43-acre property includes one 100,000 sq.ft. industrial building that is 100% leased to PetroChoice and Ace Moving & Storage, LLC. Founded in 1969, PetroChoice is the nation’s leading lubricant distributor providing products across the industrial, commercial and passenger vehicle customer segments with 51 locations in 32 states. Ace Moving & Storage, LLC, was founded in 1927 and provides local, state, national and international moving and storage solutions with 6 locations located in Oklahoma.
The property is located within the Oklahoma Industrial Park, an established industrial park area just minutes east of Interstate 35 and 10 minutes southeast of downtown Oklahoma City. Easy access to I-35 provides direct access to the I-35/I-40 interchange and the I-40/I-235 interchange which provides access to the rest of the U.S. in any direction.
New office buildings, restaurant planned near Topgolf
Woodland's Tower Investments LLC has submitted plans for a new development of restaurant and office buildings on Highway 65 in Roseville.
The four-building project would be east of Topgolf at 1720 Freedom Way, on about 4.7 acres of undeveloped land directly west of the freeway.
Scott Bennett, a commercial real estate broker with Colliers International Sacramento who's representing Tower, said the plan has flexibility depending on what kind of tenants decide to join.
"With the first building, we think it's logical for a restaurant," he said. "If we don't find that, we think it's a great site for other office tenants."
Former 'Stonehenge' office park in Natomas completed and full
The formerly stalled North Natomas office development known derisively as "Stonehenge" has wrapped up, more than a decade after hitting hard times.
This year, two firms bought the last two available office buildings in Natomas Pointe on Advantage Way, while a third is fully leased by another company.
"We had buyers or a tenant for every building before it was done," said Scott Bennett of Colliers International, who helped broker the project on behalf of owner and developer Tower Investments LLC of Woodland. "Times were different."
In the most recent sale, the Peace Officers Research Association of California bought two-story, 20,000-square-foot 2940 Advantage Way for $3.63 million last month, according to property records. Earlier this year, 2960-NP LLC, which has the same address as PORAC on Truxel Way in North Natomas, bought 2960 Advantage Way for $9.09 million, according to records.
Tower Investments Buys 23,716 SF ABC Supply Co, Inc. property in Jackson, MI
Tower Investments is pleased to announce the purchase of the ABC Supply Co property located at 4000 East High Street in Jackson, Michigan. The 4.1-acre property includes 2 industrial buildings, one of which includes offices and a showroom, that totals 23,716 sq.ft. and is 100% leased to ABC Supply Company, Inc. ABC is the leading wholesale provider of roofing, siding, windows and other select exterior building products in the United States with over 800 locations in 49 states and $11 billion in revenue in 2019.
The property is located just off U.S. Highway 127 with exposure to 25,200 vehicles per day and is just minutes south of Interstate 94, the main east-west artery for the state of Michigan. The property is located 36 miles east of Ann Arbor, 50 miles east of the Detroit International Airport and 43 miles south of the state capital of Lansing.
Tower Investments Sells Natomas Pointe Plaza Office Bldg to PORAC
Tower Investments is pleased to announce the sale of Natomas Pointe Plaza Office Park Building “D” located at 2940 Advantage Way, Sacramento, California, to the Peace Officers Research Association of California (PORAC). PORAC was incorporated in 1953 as a professional federation of local, state and federal law enforcement agencies. PORAC represents over 77,000 public safety members and over 930 associations, making it the largest law enforcement organization in California and the largest statewide association.
Tower’s development team completed the construction of the 6-building Natomas Pointe Plaza Office Park. As each Class-A office building was completed by Tower’s principal contractor, SSW Construction Corp, the building was sold or leased to an end user. The recently sold 2940 Advantage Way is a two-story, 20,000 SF building on 1.09 acres.
Prior Natomas Pointe Plaza office buildings that have been completed by Tower have been sold to California State Employees Association, The Insurance & Benefits Trust of the Peace Officers Research Association of California and Natomas Charter School. Natomas Pointe Plaza Bldg “F” is currently leased to Sutter Valley Medical Center.
The sale of 2940 Advantage Way to PORAC was represented by Scott Bennett and Thomas Walcott of Colliers International.
Tower Investments Buys 46,757 SF Industrial Multi-Flex Property in Indianapolis, IN
Tower Investments is pleased to announce the purchase of the 46,757 sq.ft. Arlington Business Park, a 2-building, multi-tenant industrial flex property located at 3220 South Arlington Avenue in Indianapolis, Indiana. The property is just minutes form the areas excellent transportation infrastructure of interstates 65, 74 and 465 and is 12 minutes from downtown Indianapolis.
The buildings are currently 100% leased to a variety of local tenants including The Carrsun Company, a furniture and houseware rental company; Cutting Edge Concepts, a custom countertop fabricator; Dance Connection Group, a dance school and studio; JL2, Inc., a metal fabrication company; and Vivant Smart Home, a home security installation and monitoring company.
Tower Investments Buys 107,594 SF of Industrial in Indianapolis, IN
Colliers Arranges Sale of Two Industrial Facilities in Indianapolis
INDIANAPOLIS — Colliers International has arranged the sale of two industrial facilities within Park 100 on the northwest side of Indianapolis. The sales price was undisclosed. Building 133, located at 5251 E. 81st St., is a 20,530-square-foot warehouse fully leased to Iron Mountain Information Management. Building 641, located at 6061 Guion Road, is an 87,064-square-foot property fully leased to Mauser Packaging Solutions. Alex Cantu and Alex Davenport of Colliers represented the seller, Shear Property Group. Thomas Wiley of Reliant Partners represented the buyer, California-based Tower Investments LLC. Park 100 is a 19 million-square-foot industrial park.