DALLAS—Despite 42 properties involved and a speedy transaction turnaround required, a transaction team worked quickly to pull it off. In the end, Tanenbaum Equity Partners, a subsidiary of Oklahoma City-based Gardner Tanenbaum, acquired the CoreCivic National GSA Portfolio.
The portfolio consists of 42 federally leased properties located in 10 states and totals more than 573,000 square feet. The total acquisition price was $106.5 million before closing costs and construction capital reserves.
The portfolio is primarily leased by the federal government to agencies such as the Social Security Administration, Office of Hearings and Operations, Military Entrance Processing, Department of Homeland Security and the Veterans Administration. Most of the assets were built-to-suit for the government.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
