PORTSMOUTH, N.H. — Lee & Associates has arranged $5.5 million in financing for an 11,000-square-foot retail strip center in Portsmouth, located near the Maine-New Hampshire border. The building at 1303 Woodbury Ave. previously housed a Rite-Aid, and the undisclosed borrower plans to redevelop the building into a medical office facility. Dave Carswell and Ryan Fitzpatrick of Lee & Associates arranged the debt through First Tech Federal Credit Union. The duo originated the financing in conjunction with a $5 million acquisition loan for a retail strip center in Rumford, Rhode Island.
RUMFORD, R.I. — Lee & Associates has arranged a $5 million acquisition loan for a 13,000-square-foot retail strip center in Rumford, located northeast of Providence. First Tech Federal Credit Union provided the nonrecourse loan, which was structured with a sub-6 percent interest rate and a 30-year amortization schedule. Dave Carswell and Ryan Fitzpatrick of Lee & Associates arranged the debt on behalf of the borrower, Kempner Properties, which acquired the center via a 1031 exchange.
MINE HILL, N.J. — Amazing Savings has signed a 173,475-square-foot industrial lease in the Northern New Jersey community of Mine Hill. The discount retailer is taking space at Spring Brook Commerce Center, a newly constructed, 393,335-square-foot building located at 128 Iron Mountain Road. Tom Consiglio and Scott Peck of Resource Realty of Northern New Jersey represented the tenant in the lease negotiations. Drew Maffey, Rick Marchisio, Will Ziegler, Joseph Komitor and Matt Esposito of Lee & Associates represented the landlord, Brookfield Properties.
CARLE PLACE, N.Y. — The U.S. Department of War has signed a 10-year, 23,600-square-foot office lease in Carle Place, located on Long Island. The space is located within the 320,000-square-foot, newly repositioned building at 1 Old Country Road, and the federal cabinet plans to take occupancy early next year. Kelly Koukou of Lee & Associates represented the landlord, DBD Realty Group, in the lease negotiations. Ralph Guiffre, Vince Lamatta and Richard Freel of CBRE represented the tenant.
GRAND PRAIRIE, TEXAS — Gulf Coast Crating Inc. has signed a 151,650-square-foot industrial lease in Grand Prairie, located midway between Dallas and Fort Worth. The building at 1213 W. Carrier Parkway was completed in 1980 and totals 224,100 square feet. R.J. Flores, Mark Graybill and Reed Parker of Lee & Associates represented the undisclosed landlord in the lease negotiations. First Houston Properties represented Gulf Coast Crating.
OCEANSIDE, N.Y. — Sunrise Senior Living has acquired a 2.8-acre development site in the Long Island community of Oceanside for $7.5 million, with plans to develop an 84-unit assisted living and memory care facility. Kelly Koukou of Lee & Associates represented Sunrise in the land acquisition. Marlon Matza of Strategic Realty Advisors represented the seller, a partnership between Grossman Nurseries and Breslin Development. A construction timeline was not disclosed.
FRANKLIN PARK, ILL. — Lee & Associates of Illinois has brokered the $4.5 million sale of 4 acres at 11330 W. Melrose Ave. in Franklin Park. Jeff Provenza of Lee & Associates represented the buyer, Seefried Industrial Properties, which plans to develop an 81,670-square-foot building. Slated for completion in June 2027, the property will feature 32-foot ceilings, 14 exterior loading docks and visibility from I-294. Provenza and his team have also been retained for leasing. O’Brien Investment Group was the seller.
FORT WORTH, TEXAS — Lee & Associates has negotiated a 35,000-square-foot industrial lease in northeast Fort Worth. According to LoopNet Inc., the building at 566 N. Beach St. totals 123,450 square feet. Aaron Schulle, Trey Fricke and Reid Bassinger of Lee & Associates represented the undisclosed tenant in the lease negotiations. Nick Talley of LanCarte Commercial represented the landlord, Melvin Evans Warehouses Ltd.
RICHARDSON, TEXAS — Lee & Associates has negotiated a 14,100-square-foot industrial lease in the northeastern Dallas suburb of Richardson. According to LoopNet Inc., the building at 789 N. Grove Road was completed in 1983 and totals 54,471 square feet. Jessica Reinhardt and Susan Cancemi of Lee & Associates represented the landlord, an entity doing business as Dallas North Industrial LLC, in the lease negotiations. Shane Rollins of TXCRE represented the tenant, Battery Management Technology Corp.
LEWISVILLE, TEXAS — Lee & Associates has negotiated a 176,182-square-foot industrial lease at 501 Holfords Prairie Road in the northern Dallas suburb of Lewisville. The deal is for the entirety of the space within the newly constructed Building F, which was built on a speculative basis within First Park 121, a 1.2 million-square-foot development. Mark Graybill and Adam Graham of Lee & Associates represented the landlord, Chicago-based First Industrial Realty Trust, in the lease negotiations. Jay Benner of Cushman & Wakefield represented the tenant, IEWC Corp., a Wisconsin-based provider of wire and cabling products.
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