REBusinessOnline

Capital One Provides $68M Loan for Office Redevelopment Project in Wilmington

WILMINGTON, DEL. — Capital One has provided a $68 million loan for the redevelopment of a portion of the former office campus of pharmaceutical firm AstraZeneca in Wilmington, Delaware. The borrower, Brandywine Investment Group II, acquired the site in 2017 in a sale-leaseback deal and will use the new proceeds to fund construction of a 1,373-space parking garage, as well as to fund tenant improvements and leasing commissions. The loan, which features a five-year term and an adjustable …

Endurance, Brasler Acquire 18.4-Acre Industrial Site Near Reading, Pennsylvania

MUHLENBERG TOWNSHIP, PA. — An affiliate of Radnor-based Endurance Real Estate Group and Philadelphia-based Brasler Properties have acquired Berks61, an 18.4-acre industrial land site in Pennsylvania located just outside of Reading. Shortly after acquiring the property, the new ownership secured a build-to-suit agreement with CarbonLITE Holdings LLC, a producer of plastic resins, for the construction of a 270,000-square-foot warehouse and manufacturing facility. The tilt-wall, rail-served …

JLL Closes $11M Refinancing of Industrial, Office Asset in New Jersey

CLOSTER, N.J. — JLL’s Capital Markets team has closed an $11 million loan for the refinancing of Reuten Corporate Park, a 156,782-square-foot industrial and office development in Closter, located across the Hudson River from Yonkers. The property, which spans five buildings with 95,528 square feet of industrial space and 61,254 square feet of office space, was 99 percent leased at the time of sale. Tenants include logistics firm Nippon Express and Rayence, a distributor of flat panel …

Stubblebine Negotiates 78,000 SF Industrial Lease in Whitinsville, Massachusetts

WHITINSVILLE, MASS. — The Stubblebine Co., a CORFAC member and brokerage firm based in the Boston area, has negotiated a 78,000-square-foot industrial lease at 355 Main St. in Whitinsville, located south of Worcester. The lease represents an expansion of the current footprint of the tenant, Core-Mark, a Fortune 400 distributor and marketer of consumer goods. David Stubblebine and James Stubblebine of The Stubblebine Co. represented the landlord, WRT Management, in the lease negotiations. The …

Virtua Credit Arranges $14M Loan to Refinance Hampton Hotel in Metro Philadelphia

CLOSTER, N.J. — JLL’s Capital Markets team has closed an $11 million loan for the refinancing of Reuten Corporate Park, a 156,782-square-foot industrial and office development in Closter, located across the Hudson River from Yonkers. The property spans five buildings featuring 95,528 square feet of industrial space and 61,254 square feet of office space and was 99 percent leased at the time of sale. Tenants include logistics firm Nippon Express and Rayence, a distributor of flat panel …

Keurig Dr. Pepper Breaks Ground on New Headquarters at The Star in Frisco

FRISCO, TEXAS — Keurig Dr. Pepper will host a groundbreaking ceremony today for its new headquarters campus at The Star, the Dallas Cowboys’ 91-acre hub in Frisco. The company is relocating from its current office in Plano, where approximately 1,100 employees work. The new space will measure roughly 350,000 square feet and is expected to be available for occupancy in 2021, according to local media

CBRE Negotiates Sale of 196-Unit Apartment Community in East Dallas

DALLAS — CBRE has negotiated the sale of Treymore Eastfield, a 196-unit apartment community located at 2631 John West Road in East Dallas. Utah-based Peak Capital Partners purchased the property from Dallas-based developer Carlton Laprada Ltd. for an undisclosed price. Chris Deuillet and Chandler Sims of CBRE’s Dallas office, along with Jeff Kunitz and Alex Medeiros of CBRE’s Seattle office, brokered the deal on behalf of the seller. According to apartments.com, Treymore Eastfield, which …

Jenkins Breaks Ground on 1,090-Unit Self-Storage Facility in Austin

AUSTIN, TEXAS — The Jenkins Organization, a Houston-based developer and manager of self-storage properties, has broken ground on Bergstrom Storage, a 1,090-unit facility located at 530 S. Highway 182 near Austin-Bergstrom International Airport in southeast Austin. The 238,000-square-foot facility will offer climate- and non-climate-controlled storage space, as well as boat and RV storage, gated security entry, electronic security monitoring throughout and an onsite manager. The opening is …

Eataly to Open 48,000 SF Italian Marketplace at NorthPark Center in Dallas

DALLAS — Eataly, a concept that offers Italian-inspired food and drink in a marketplace setting, has signed a lease to open a 48,000-square-foot space at NorthPark Center, an enclosed shopping mall in Dallas. This location will be the company’s first in Texas. Scott Muller, Katie Rambie, Kiley Pipkin, Zach Ballenger, Justin Rasansky, Sydney Muller and Jack Gosnell of CBRE represented Eataly in the lease

Marcus & Millichap Arranges Sale of 77-Unit Manufactured Housing Property in Beaumont

BEAUMONT, TEXAS — Marcus & Millichap has arranged the sale of Oak Forest Mobile Home Park, a 77-unit manufactured housing property located in the East Texas city of Beaumont. Robert Denninger of Marcus & Millichap represented the seller and procured the buyer in the deal, both of which were private investors. Additional terms of sale were not

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