CBRE Secures $70.2 Million in Financing for Tracy Logistics Center

CBRE secured $70.2 million in financing for Tracy 205 Logistics Center on behalf of Trammell Crow Company.

CBRE’s Mike Walker and Brad Zampa on the Debt and Structured Financing team in San Francisco secured the five-year loan from Barings, one of the world’s leading investment managers. Adam Voelker and Will Parker of Trammell Crow Company in Northern California led the effort on behalf of the ownership. Jack Cheng, managing director with Barings, represented the lender.

“The talented institutional sponsorship and the property’s strategic location were instrumental in securing attractive financing for Tracy Logistics Center. The Central Valley is one of California’s prominent industrial markets given its proximity to the Bay Area and Sacramento. New industrial facilities like Tracy Logistics Center are well-positioned to attract investors and occupiers to the market due to high barriers to entry and limited availability,” said Walker.

Located at 1269 E. Grant Line Road, Tracy 205 Logistics Center is a 606,343 sq. ft. Class A distribution center across 29.3 acres developed by Trammell Crow. The property was built in 2023 with modern industrial features including 40 ft. clear heights, 4,000 amps of power, 103 dock doors and ample car and trailer parking.

Northern Central Valley is one of the nation’s fastest-growing industrial markets. Over the past decade, it has added more than 56 million sq. ft. of industrial space – a 74% increase in the total inventory. In Q4 2024, 75% of transactions in the quarter were new deals, a significant increase from Q3 where 63% of leases were renewals, according to CBRE Research.