SPRINGTOWN AND AZLE, TEXAS — Marcus & Millichap has brokered the sale of a portfolio of two self-storage facilities totaling 950 units in Springtown and Azle, both of which are located northwest of Fort Worth. The Springtown & Azle Storage Portfolio spans 150,980 net rentable square feet of space across more than 15 acres. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, a DFW-based, family-owned partnership, in the transaction and procured the buyer, an entity doing business as 10 Federal. The same buyer recently purchased the 359-unit KO Storage facility that is also located in Azle.
DALLAS — Locally based developer Larkspur Capital has begun leasing The Juniper, a 219-unit multifamily project in Dallas. The site is located within a Qualified Opportunity Zone at 4003 Commerce St. in the Exposition Park area of Dallas. The site spans 1.4 acres, and the property feature studio, one- and two-bedroom units in addition to townhomes, penthouses and ground-floor retail space. Amenities include a pool, dog park, fitness center, multiple lounges, pickleball courts, outdoor grilling and dining stations and a clubhouse. Corgan designed the project, with Faulkner Design Group handling interior architecture. OHT Partners served as the general contractor. Rents start at roughly $1,600 per month for a studio apartment.
MISSOURI CITY, TEXAS — Chicago-based owner-operator Logistics Property Co. has broken ground on a 217,758-square-foot industrial project in Missouri City, a southwestern suburb of Houston. The project will be the seventh building to be constructed within the 98-acre CityPark Logistics Center and is a build-to-suit for Standex GRID/Amran Instrument Transformers. Building features will include a cross-dock configuration, 32-foot clear heights and “ample” car and trailer parking. Powers Brown Architecture designed the project, and Burton Construction is serving as the general contractor. Pape Dawson is the civil engineer. Completion is slated for the second quarter of next year. Steve King and Wesley King of CBRE represented the tenant in the lease negotiations for Building 7. Beau Kaleel and Brooke Swerdlow of Cushman & Wakefield, along with internal agents Aaron Martell, Mark Redlingshafer and Wilson Goode, represented ownership.
LEWISVILLE, TEXAS — Lee & Associates has negotiated an 87,730-square-foot industrial lease in the northern Dallas suburb of Lewisville. The space is located within Building B of First Park 121, a six-building, 1.2 million-square-foot development. Adam Graham of Lee & Associates represented the tenant, Oh My Mahjong, in the lease negotiations. Mark Graybill, also with Lee & Associates, represented the landlord, Chicago-based REIT First Industrial Realty Trust.
NEW YORK CITY — Berkadia has provided a $219 million Fannie Mae permanent loan for the rehabilitation and preservation of Rangel Houses, a 984-unit affordable housing community in Upper Manhattan. Rangel Houses was originally built on 11 acres in 1951 as Colonial Park Houses and was renamed in 1977 in honor of tenant association president Ralph Rangel. Today, the community comprises eight high-rise buildings that are home to roughly 1,800 people. All units are reserved for households earning 80 percent or less of the area median income, with the majority (954 units) designated for “very low-income” residents. Rangel Houses also features playgrounds and open space, commercial space and specialized centers for seniors and children of varying ages. Matthew Baptiste and Heather Olson of Berkadia originated the financing in partnership with the New York City Housing Authority, the New York City Housing Development Corp. and Goldman Sachs on behalf of the owner, Genesis Cos. The loan was structured with a 15-year term, five years of interest-only payments and a 40-year amortization schedule.
SALEM, N.H. — Regional investment firm Marcus Partners has purchased a 155,000-square-foot industrial building in Salem, located near the Massachusetts-New Hampshire border. Completed on 16.4 acres in 2023, the building at 6 Industrial Way features a clear height of 40 feet and up to 28 dock-high doors. The building was partially leased to a local defense contractor at the time of sale, and CBRE will market the remainder of the space for lease. Marcus Partners acquired the building in an off-market transaction. The seller and sales price were not disclosed.
PLEASANTVILLE, N.Y. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of The Atwood, a 71-unit apartment building in Pleasantville, located about 30 miles north of New York City. Built in 2023, The Atwood exclusively offers one-bedroom units with an average size of 774 square feet and amenities such as a fitness center, lounge and a rooftop terrace. Eric Pentore, Victor Nolletti, Wes Klockner and John Horowitz of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
MATAWAN, N.J. — Marcus & Millichap has brokered the $14.6 million sale of Park Plaza, a 61,750-square-foot shopping center in the Northern New Jersey community of Matawan. The center was built on 5.8 acres in 1986 and comprises 20 suites. Seth Goldberg, Brent Hyldahl and Alan Cafiero of Marcus & Millichap exclusively marketed the property on behalf of the seller, and procured the buyer, both private investors from New Jersey.
FRANKLIN, TENN. — Walker & Dunlop has arranged $110 million in financing for the acquisition of Wyndchase Aspen Grove, a 560-unit multifamily community located in Franklin, a southern suburb of Nashville. Allan Edelson, Justin Nelson, Jeremy Seid, Joe Tarantino and PJ Feichtmeier of Walker & Dunlop secured the floating-rate, interest-only loan through Wells Fargo on behalf of the borrower, an unnamed institutional client. Wyndchase Aspen Grove spans 30 residential buildings and features one-, two- and three-bedroom floorplans averaging 1,091 square feet in size. Amenities at the community, which is complemented by more than 60 acres of green space, include two swimming pools with sundecks, a 24-hour fitness center, clubhouse with a game room, outdoor gathering areas, grilling stations, cybercafé, playground, dog park and a pet wash station.
NORTH LAS VEGAS, NEV. — Newmark has brokered the sale of Golden Triangle Logistics Center, a Class A industrial portfolio in North Las Vegas. Washington Capital sold the asset to Clarion Partners for an undisclosed price. Andrew Briner and Ken White of Newmark represented the seller, while Kevin Shannon of Newmark provided executive oversight for the transaction. Totaling 1.3 million square feet, Golden Triangle Logistics Center consists of three distribution facilities located at 2555, 2815 and 3375 E. Washburn Road. Spanning 64.5 acres, the asset features 36- to 37-foot clear heights, ESFR sprinkler systems, expansive truck courts, 189 dock-high loading positions and a sizable, secured trailer storage yard. At the time of sale, the property was 84 percent leased. The asset offers access to I-15 and the Clark County 215 Beltway.
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