PHOENIX, AZ – April 22, 2014 Trammell Crow Company, one of the nation’s leading developers and investors in commercial real estate, and joint venture partner Clarion Partners, a leading U.S. real estate investment manager, have been awarded the 2013 Speculative Industrial Development of the Year for Coldwater Depot Logistics Center – Phase I by the Arizona chapter of the National Association of Office and Industrial Properties (NAIOP).
“We are honored to have led the list of top developments throughout Arizona,” said Cathy Thuringer, Principal with Trammell Crow Company’s Phoenix Business Unit. “This award reflects our hard work, dedication and commitment to deliver high-quality developments.”
“We’re thrilled that Coldwater Depot won the award for speculative industrial development of the year and to be recognized by NAIOP for this achievement is a great honor,” said Ryan Collins, Vice President with Clarion Partners.
Coldwater Depot Logistics Center – Phase I, a 600,000 square foot distribution center currently occupied by Conn’s Furniture, is located on 54-acres in southwest Phoenix. In November 2013, the TCC/Clarion venture sold the Phase 1 building and adjacent land to Lake Washington Partners, a Seattle-based commercial real estate firm that owns, manages and develops properties across the United States primarily for its affiliate SanMar Corp, a major supplier of wholesale apparel and accessories who plans to establish a southwest regional distribution center at Coldwater Depot.
About Clarion Partners
Clarion Partners has been a leading U.S. real estate investment manager for over 30 years. Headquartered in New York, the firm has offices in major markets throughout the U.S., in São Paulo, Brazil and London, England as well as a presence in Mexico. With $30.0 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 200 domestic and international institutional investors. The Firm’s industrial footprint is comprised of more than 99 million square feet across 43 markets across the U.S., Mexico and Brazil.
More information about the firm is available at www.clarionpartners.com.
About Trammell Crow Company
Trammell Crow Company, founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired nearly 2,600 buildings valued at nearly $60 billion and over 540 million square feet. As of December 31, 2013, Trammell Crow Company had over $4.9 billion of projects in process and $1.5 billion in its pipeline.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 16 major cities throughout the United States. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential and mixed use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet its clients’ needs. For investor clients, the company offers large strategic joint ventures, opportunity funds, and other targeted investment options.
Trammell Crow Company is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). For more information visit www.TrammellCrow.com.