In late 2016, Tratt Properties finalized the sales of the Jim Holdings, LLC building in
Spartanburg, SC and the newly constructed 376,963 SF Santa Fe Logistics Center in Phoenix.
The 573,210 SF Jim Holdings, LLC property with 30’ clear height was originally purchased by Tratt
Properties in 2007 with Adidas as the tenant. They owned the property for 10 years and stabilized
it with the lease to two multi-national corporations in 2014 after Adidas’s lease expired. The building
was sold in November to STAG Industrial for $20.5M.
In late 4th quarter of 2016, the construction of Santa Fe Logistics Center was completed. The
building consists of a 32’ clear height, 190’ of all concrete truck court and is in the process of LEED
certification. Prior to construction, CBRE’s Feeney, Calihan, and Kennedy team out of Phoenix
leased 112,00 SF of the building to Hensley Beverage Company.
Hensley was attracted to the
property since their headquarters is located across the street and they consolidated two other
outside facilities. The building sale was brokered in December by the JLL Lydon / Hertzberg team
out of Phoenix, to Greco & Sons for $22.4M. Greco will be using the remaining space in the
building with the opportunity to lease out 120,000 SF.
Amazon Fulfillment in Lakeland, FL was represented by Chris Riley of CBRE’s National Team and
was a development joint venture between USAA and Johnson Development Associates. The
building was purchased in December for $88M and consists of 1,016,080 SF with a 32’ clear height.
Val Achtemeier of CBRE Capital Markets Group represented Tratt Properties for the finance with
Wells Fargo Capital Markets Group who provided a $61M loan. This is the second Amazon facility
Tratt Properties has owned after the development of a 1.2M SF property in Phoenix, AZ, which sold
in April of 2012. “I am very excited to have Amazon back as part of our long-term holdings and look
forward to the prospect of growing with the E-commerce world leader.” – Jonathan Tratt, Founder
and Managing Principal.
Through the recent sales and purchase in 2016, Tratt Properties looks forward to 2017 as they
continue to reposition their portfolio throughout strategic markets in the United States.