Tracy, Calif. – January 20, 2022 – Trammell Crow Company (TCC), one of the nation’s largest commercial real estate developers and investors, and joint venture partner CBRE Investment Management, on behalf of one of its investment funds, have broken ground on a state-of-the-art logistics facility in Tracy, Calif. The Project is scheduled for completion in late 2022 and includes a speculative cross-dock industrial building totaling 606,343 square feet. The project is located in the heart of Tracy’s Northeast Industrial submarket, with frontage along Grant Line Road, offering tenants connectivity throughout the Bay Area and Northern California.
The venture partners recently amended the project to increase clear height to 40’ from the original 36’ clear plans, improved slab and foundation thickness, enhanced the subgrade condition, and extended utilities throughout the building for future flexibility. The cutting-edge distribution facility will have 185’ truck courts, 56’ x 60’ column spacing, LED and sky lighting, and an ESFR system. In line with both firms’ continued commitment to sustainability, the development team is implementing a variety of ESG features, including infrastructure for EV charging stations and solar panels.
“The Northern California industrial market continues to demonstrate healthy leasing and investment fundamentals. We look forward to delivering this Class A project into the strong Tracy market with our partner CBRE Investment Management,” said Will Parker, Principal with TCC’s Northern California office.
“The City of Tracy is pleased to welcome Trammell Crow Company and CBRE Investment Management to our community,” said Mayor Nancy Young. “This project will not only secure more local jobs, but will also contribute positively to the local infrastructure, the city’s overall economic health, and further establish Tracy as a business hub in Northern California.”
The leasing efforts for the project will be led by the CBRE Central Valley Team of Tom Davis, Bob Taylor and Dan Davis. The project is designed by HPA Architecture. The civil engineer is Kier & Wright and Big D Pacific Builders is acting as the general contractor.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired 2,800 buildings valued at nearly $70 billion and over 625 million square feet. As of September 30, 2021, TCC had $16.8 billion of projects in process and $9.6 billion in its pipeline. It employs more than 650 professionals in the United States and Europe.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 27 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial, healthcare, multi-family residential, through its operating subsidiary High Street Residential, and mixed-use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet the needs of its clients. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development and providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, and the world’s largest commercial real estate services and investment firm (in terms of 2020 revenue). For more information visit www.TrammellCrow.com.
About CBRE Investment Management
CBRE Investment Management is a leading global real assets investment management firm with $133.1 billion in assets under management* as of September 30, 2021, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.
CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2020 revenue). CBRE has more than 100,000 employees serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.
*Assets under management (AUM) refers to the assets under management, fair market value of real assets-related investments with respect to which CBRE Investment Management provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Investment Management’s presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.
About the City of Tracy
Tracy is centered in a triangle formed by major interstates I-205 to the North, I-580 to the west and I-5 to the east. A collaboration of effort from our elected officials, employees, local businesses, and residents means Tracy is a clean and safe community where opportunity, growth, and success prosper. We invite you to come for a visit, open your business, and settle down to raise a family in Tracy. Take a look “Inside the Triangle.” You’ll like our pace, and you’ll love the place!