JLL Negotiates Sale of 738,701 SF Industrial Portfolio Near Port Houston

PASADENA AND DEER PARK, TEXAS — JLL has negotiated the sale of a three-building, 738,701-square-foot industrial portfolio near Port Houston. The properties were built in 2019 on a combined 44.6 acres and are located in Pasadena and Deer Park. Collectively, the buildings feature 30- to 36-foot clear heights, 175 dock-high doors, 10 drive-in-ramps, 262 trailer parking spaces and 399 car parking spaces. Trucking and logistics companies occupy the single-tenant buildings. Trent Agnew, Rusty …

June 15, 2021Acquisitions, Industrial, Texas

CBRE Global Investors Buys 596-Unit Preston Peak Apartments in San Antonio

SAN ANTONIO — A fund sponsored by CBRE Global Investors has purchased Preston Peak, a 596-unit apartment community in northwest San Antonio. Preston Peak offers a mix of one- and two-bedroom units that are furnished with stainless steel appliances, walk-in closets and private patios. Amenities include two pools, a fitness center, tennis and sand volleyball courts, outdoor grilling and picnic areas, a jogging trail, putting green and package lockers. The garden-style property was 93 percent …

June 15, 2021Acquisitions, Multifamily, Texas

Avant Capital Provides $47.1M Acquisition Loan for Dallas Apartment Complex

DALLAS — Avant Capital, a Connecticut-based direct lender, has provided a $47.1 million bridge loan for the acquisition of a 500-unit apartment complex in Dallas. The property, the name of which was not disclosed, was originally built in the 1970s. The borrower, a partnership between The Willowood Group, Arch Investment Group and Stormlight Holdings, will use a portion of the proceeds to fund capital improvements. NorthMarq arranged the

June 15, 2021Loans, Multifamily, Texas

Marcus & Millichap Arranges Sale of 89-Room Hotel in Woodward, Oklahoma

WOODWARD, OKLA. — Marcus & Millichap has arranged the sale of the Holiday Inn Express & Suites Woodward, an 89-room hotel located in the northwestern part of the state. The property was built in 2006 and offers amenities such as a pool, fitness center and a business center. Matt Omansky, Allan Miller and Chris Gomes of Marcus & Millichap represented the seller, Miami-based Rialto Capital, in the transaction. The trio also secured an undisclosed private investor as the

June 15, 2021Acquisitions, Hospitality, Oklahoma, Texas

Montecito Medical Acquires 23,731 SF Healthcare Building in Metro Houston

THE WOODLANDS, TEXAS — Nashville-based Montecito Medical Real Estate has acquired a 23,731-square-foot healthcare building in The Woodlands, about 30 miles north of Houston. The property was built in 2006 and was fully leased to Northwoods Urology (13,431 square feet) and Aspire Hospital (10,300 square feet) at the time of sale. The seller and sales price were not

June 15, 2021Acquisitions, Healthcare, Texas

Newmark Arranges $500M Acquisition, Construction Loan for Manhattan Office Redevelopment

NEW YORK CITY — Newmark has arranged a $500 million acquisition and construction loan for the redevelopment of 111 Wall Street, a 1.2 million-square-foot office building in downtown Manhattan. The 25-story building spans a full city block. The borrower, a joint venture between Nightingale Partners and Wafra Capital Partners, will reposition the property to feature touchless and smart-building technology and add new amenities. The new suite of amenities will include a 125-seat conference …

June 15, 2021Loans, New York, Northeast, Office

Mack-Cali Sells Office Complex in Red Bank, New Jersey for $84M

RED BANK, N.J. — Mack-Cali Realty Corp. (NYSE: CLI) has sold River Centre, a six-building, 639,490-square-foot office complex in the Northern New Jersey community of Red Bank, for $84 million. First Mile Properties, an affiliate of New York-based Crown Acqusitions, acquired the Class A complex, which was 66 percent leased at the time of sale. The property offers amenities such as a fitness center, tenant lounge and a café with outdoor seating. Andy Merin, David Bernhaut, Gary Gabriel, Frank …

June 15, 2021Acquisitions, New Jersey, Northeast, Office

Chozick Realty Negotiates $22M Sale of Hotel, Multifamily Property in Hartford

HARTFORD, CONN. — Locally based brokerage firm Chozick Realty has negotiated the $22 million sale of a hotel and multifamily property located at 50 Morgan St. in Hartford. The 18-story building was originally constructed in 1971 as a 350-room hotel and currently houses 150 hotel rooms and 96 apartments following a recent conversion. The buyer, a partnership between Alexa Group and Shelbourne International, plan to reposition the remaining 150 hotel rooms into 164 apartments, bringing the …

June 15, 2021Acquisitions, Connecticut, Development, Hospitality, Multifamily, Northeast

Mayweather Boxing + Fitness Opens 3,397 SF Gym in North Brunswick, New Jersey

NORTH BRUNSWICK, N.J. — Mayweather Boxing + Fitness has opened a 3,397-square-foot gym at The Shoppes at North Brunswick, an upscale retail center located about 40 miles south of New York City. This will be the tenant’s first location in New Jersey. Azarian Realty Co. represented the undisclosed landlord in the lease

June 15, 2021Leasing Activity, New Jersey, Northeast, Retail

Cushman & Wakefield | Thalhimer Brokers $32.5M Sale of Medical Office Property in Richmond

RICHMOND, VA. — Cushman & Wakefield | Thalhimer has brokered the $32.5 million sale of Brookfield Commons, a 90,598-square-foot Class A medical office property located at 6600 West Broad St. in Richmond. Eric Robison, Catharine Spangler and Birck Turnbull of Cushman & Wakefield | Thalhimer represented the seller, an entity managed by Stanley Shield Partnership, in the transaction. Nashville-based Montecito Medical Real Estate acquired the property.Brookfield Commons is a newly …

June 15, 2021Acquisitions, Healthcare, Office, Southeast, Virginia