MINNEAPOLIS — Minnesota-based discount retailer Target has temporarily closed six stores in four states in response to protests that turned violent over the weekend. The looting and destruction of commercial property took place in the days following the death of George Floyd, an unarmed black man who died May 25 following an encounter with Minneapolis police during which an officer kneeled on his neck for several minutes. On Sunday, several other retailers, including CVS, Apple and Walmart …
CANTON, MASS. — Service Properties Trust (SPT), a Massachusetts-based REIT, has sold a 674,143-square-foot industrial property in Canton, a southern suburb of Boston. The sales price was $51 million. The property is located at 555 Turnpike St. and was constructed in 1962. SPT purchased the property as part of a net-lease portfolio acquisition in September 2019. The buyer was
WORCESTER, MASS. — Worcester Business Development Corp. (WBDC) will develop a 107,000-square-foot office project in Worcester, approximately 45 miles west of Boston. The building will anchor a 46-acre master-planned biomanufacturing campus called The Reactory, a 470,000-square-foot redevelopment of a site formerly occupied by Worcester State Hospital. WuXi Biologic, a Chinese biomanufacturing company, will be the user of the building. WBDC acquired a 6.8-acre parcel of land for the project …
BETHLEHEM, PA. — MillPress Imports, a supplier of extra virgin olive oil, has signed a 10,000-square-foot industrial lease in Bethlehem, an eastern suburb of Allentown. The space is located within 2198 Industrial Drive, a 101,508-square-foot Class B industrial property constructed in 1982. The tenant is headquartered at a nearby building also owned by the same landlord and will use the new space for overflow storage. Other tenants include Cooper Electric, PolyOne Corp. and IDI
NEW YORK CITY — Cushman & Wakefield has negotiated a 7,263-square-foot office lease for portfolio management firm Axium Infrastructure Inc. in the Plaza District of Manhattan. Axium leased the entire 21st floor of 527 Madison Avenue, an approximately 240,000-square-foot office building. The 26-story building was constructed in 1986. Jim Frederick and Gordon Hough of Cushman & Wakefield represented the landlord, Mitsui Fudosan America Inc., in the lease negotiations. CBRE represented …
HOUSTON — Locally based firm Tema Development has begun renovating The Parklane, a 35-story residential tower located at 1701 Hermann Drive, just south of downtown Houston. Upon completion, the project will feature 195 residences that may be purchased or rented. Mirador Group is the architect, interior designer and landscape designer for the project. Construction of a new fitness center, amenity deck and lobby will begin in the fourth quarter, and completion of the entire project is slated …
TULSA, OKLA. — New York-based private equity firm Wynmor Management has acquired London Square Apartments, a 173-unit multifamily community in Tulsa. The property was built in 1967 and spans approximately 150,000 square feet. Michael Sullivan of Berkadia represented the seller, a partnership between two California-based firms, National Holdings LLC and London Square-MBD LLC, in the transaction. The new ownership will implement a value-add program. Wynmor partnered with MD2 Property Group, a …
ARLINGTON, TEXAS — QFC Industries, a Texas-based hardware supplier, has signed a 26,250-square-foot industrial lease at Forum 303 Crossing in Arlington. The company will occupy space at Building A, which spans 172,632 square feet, according to LoopNet Inc. Michael Stanzel of NAI Robert Lynn represented the tenant in the lease negotiations. Steve Koldyke of CBRE represented the undisclosed
IRVING, TEXAS — Stream Realty Partners has negotiated an 18,898-square-foot industrial lease at Jetstar Service Center, a 98,000-square-foot building located at 8181 Jetstar Drive in Irving. Ryan Boozer and Mac Hall of Stream Realty Partners represented the tenant, e-commerce firm Fulfillment by Eagle LLC, in the lease negotiations. Transwestern represented the landlord, Denver Third Creek
HOUSTON — NAI Partners has arranged the sale of a 10,656-square-foot industrial building located at 6921 Homestead Road in Houston. Zane Carman and Clay Pritchett of NAI Partners represented the buyer, TNT Equipment Co., an Ohio-based provider of scaffolding and construction rental equipment, in the transaction. Zack Taylor and Lawton Anderson of Moody Rambin represented the undisclosed
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