Property Type

MDH Partners Acquires New Industrial Park Leased to Tesla in Metro Austin

by Hayden Spiess October 30, 2024

KYLE, TEXAS — MDH Partners has acquired Kyle 35 Logistics Park, a newly built, 1.4 million-square-foot industrial park located in Kyle, approximately 20 miles southwest of Austin. Houston-based Alliance Industrial Co. sold the property for an undisclosed price. Delivered in 2023, Kyle 35 Logistics Park comprises five Class A industrial buildings ranging in size from 140,300 to 474,397 square feet. Electric vehicle manufacturer and technology company Tesla Inc. fully occupies the development. Situated along I-35, the buildings feature 35- to 40-foot clear heights, ESFR sprinkler systems and ample parking. The property offers connectivity between Mexico, San Antonio, Austin and the Dallas-Fort Worth metro. According to a press release issued by JLL, the city of Kyle has roughly doubled in population over the past decade, with more than 25 million people located within a five-hour drive of the industrial park. Trent Agnew, Witt Westbrook, Kyle Mueller, Charlie Strauss and Tom Weber of JLL Capital Markets represented the seller in the transaction. “Kyle 35 Logistics Park represented an exceptional opportunity to acquire a newly built, fully leased industrial asset in one of the fastest growing corridors in Central Texas,” says Agnew. “The property’s high-quality construction, investment grade tenancy and strategic location generated …

October 30, 2024

Industrial Loans Texas

Cushman & Wakefield Arranges $99.8M Loan for Refinancing of Metro Dallas Industrial Campus

by Taylor Williams October 29, 2024

WILMER, TEXAS — Cushman & Wakefield has arranged $99.8 million loan for the refinancing of Core45, a 1.6 million-square-foot industrial campus located in the southern Dallas suburb of Wilmer. The development was completed earlier this year and comprises two buildings totaling approximately 1 million and 616,000 square feet on an 88.4-acre site. Building features include cross-dock configurations, 40-foot clear heights, 900 car parking spots, ESFR sprinkler systems and speculative office space. In addition, roofing, insulation and composite materials provider Owens Corning has already signed a 292,680-square-foot lease at Core45. Rob Rubano, Brian Share, Michael Zelin, Max Schafer, Billy Coyle and Nikola Kretschman of Cushman & Wakefield arranged the loan on behalf of the borrower, a joint venture between Grandview Partners and TRG Development. Benefit Street Partners provided the loan, which retires existing construction debt.

October 29, 2024

Development Industrial Texas

VanTrust Real Estate Completes 413,000 SF Industrial Project in San Antonio

by Taylor Williams October 29, 2024

SAN ANTONIO — Dallas-based developer VanTrust Real Estate has completed Cornerstone Commerce Center, an approximately 413,000-square-foot industrial project in northeast San Antonio. Cornerstone Commerce Center comprises two buildings that span 222,439 and 190,734 square feet on a 60-acre site. An undisclosed manufacturer of automotive accessories has leased 104,514 square feet at the first building, with CBRE representing both the tenant and landlord in the lease negotiations. VanTrust also purchased an additional 33 acres for Phase II of the project, which can accommodate up to an additional 400,000 square feet of new development. The project was first announced in April 2022.

October 29, 2024

Acquisitions Colorado Industrial Western

Ambrose Property Group Acquires 595,000 SF Ascent Commerce Center Near Denver for $61M

by Amy Works October 29, 2024

COMMERCE CITY, COLO. — Indianapolis-based Ambrose Property Group has purchased Ascent Commerce Center, an industrial park situated on 33 acres in Commerce City, a northeast suburb of Denver, for $61 million. Ascent Commerce Center is located at 17776, 17956 and 18146 E. 84th Ave. Built in 2021, the three-building park offers 595,000 square feet of Class A industrial space. At the time of sale, the asset was 45.6 percent leased to four tenants. La-Z-Boy and PCL Construction occupy the 154,831-square-foot Building I. McKesson leases 135,053 square feet at Building II, a 313,080-square-foot, cross-dock facility at the center of the site. The Lawless Group occupies 26,463 square feet of Building III, a 127,631-square-foot asset on the east side of the park. The buildings offer 32- and 36-foot clear heights, dock-high and drive-in loading, ESFR sprinklers, multiple points of ingress and egress and trailer parking. Will Strong, Molly Hunt, Michael Matchett and Dean Wiley of Cushman & Wakefield’s National Industrial Advisory Group – Mountain West represented the seller, an undisclosed asset manager, in the deal. Drew McManus, Bryan Fry and Ryan Searle of Cushman & Wakefield provided local advisory services. Additionally, Rob Rubano, Brian Share, Max Schafer, Garrett Stasand, Lars Weston, Niki …

October 29, 2024

Development Loans Multifamily New Mexico Western

Dwight Mortgage Trust Finances $56.3M Loan for Madera Apartments in Santa Fe

by Amy Works October 29, 2024

SANTA FE, N.M. — Dwight Mortgage Trust, an affiliate REIT of Dwight Capital, has provided $56.3 million in bridge financing for Madera Apartments in Santa Fe. Proceeds of the loan will be used to retire the sponsor’s existing construction debt and provide the borrower, Thrive Development, with capital to complete construction and lease-up of the property. Upon completion, Madera Apartments will offer 218 one-, two- and three-bedroom townhome-style apartments with patios or balconies, in-unit washers and dryers, smart home technology and walk-in closets. The community will consist of 20 two-story residential buildings, a communal clubhouse, swimming pool, pickleball court, yoga studio, fitness center, dog wash station, playground and garage parking with electric vehicle charging stations.

October 29, 2024

Acquisitions California Office Western

Ambient Communities Buys 250,000 SF Office Tower in Downtown San Diego

by Amy Works October 29, 2024

SAN DIEGO — Ambient Communities, a San Diego-based real estate company, has acquired 530 B Street, a 24-story office tower in downtown San Diego’s B Street corridor, from an undisclosed seller for $27.5 million, or $110 per square foot. Completed in 1966, the 250,000-square-foot tower was known as the Union Bank building until U.S. Bank acquired the bank in 2022. Matt Carlson, Hunter Rowe, Camille Doan, Matt Pourcho and Anthony DeLorenzo of CBRE represented the seller, while Mickey Morera of Kidder Mathews represented the buyer in the transaction.

October 29, 2024

Acquisitions Multifamily Oregon Seniors Housing Western

Cedar Sinai Park Sells 246-Unit Seniors Housing Campus in Portland

by Amy Works October 29, 2024

PORTLAND, ORE. — Nonprofit Cedar Sinai Park has sold its namesake seniors housing campus totaling 246 units in southwest Portland. Situated within four miles of downtown Portland, the Cedar Sinai Park campus comprises Rose Schnitzer Manor, a 154-unit assisted living community; Robison Jewish Health Center, a 44-bed skilled nursing facility; and the Harold Schnitzer Center for Living, a 48-bed skilled nursing facility. Built in 2016, the Harold Schnitzer Center for Living also offers adult daycare services. Rose Schnitzer Manor was constructed in 1998 and 2002, and Robison Jewish Health Center — which is currently vacant — was built in 1956 and renovated in 2017. The property is located within three miles of two short-term, acute-care hospitals. Michael Segal, Dan Mahoney and Daniel Waldhorn of Blueprint represented Cedar Sinai Park in the sale. The seller plans to use sale proceeds to establish a new foundation to continue to serve the Portland Jewish community. An Illinois-based private investor with an Oregon-based operating partner acquired the campus for an undisclosed price.

October 29, 2024

Development Multifamily Student Housing Texas

Rael Development Breaks Ground on 192-Unit Student Housing Project in Denton

by Taylor Williams October 29, 2024

DENTON, TEXAS — Rael Development Corp. has broken ground on Charme on Eagle, a student housing project that will be located near the University of North Texas campus in Denton. Set for delivery in fall 2026, the community will offer a total of 463 beds across 192 units that will feature studio through four-bedroom configurations. Amenities will include a pool, grilling stations, speakeasy lounge and game room, private study and community spaces and a fitness center with designated spin/yoga studio. The development is Rael’s second in the Denton market, following CityParc at Fry Street.

October 29, 2024

Acquisitions Nevada Retail Western

Hanley Arranges Sale of New 2,365 SF Retail Property in Las Vegas Leased to Starbucks

by Amy Works October 29, 2024

LAS VEGAS — Hanley Investment Group Real Estate Advisors has arranged the sale of a newly constructed, single-tenant retail property located at 9285 W. Russell Road in Las Vegas. Starbucks Coffee occupies the building, which totals 2,365 square feet and features a drive-thru, on a 10-year lease. Bill Asher and Jeff Lefko, in association with ParaSell Inc., represented the developer and seller in the transaction. Jason Otter of Logic Commercial Real Estate represented the buyer, a local private investor. The acquisition price was not released.

October 29, 2024

Acquisitions Multifamily Texas

IPA Negotiates Sale of 186-Unit Biltmore Apartments in Arlington

by Taylor Williams October 29, 2024

ARLINGTON, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of The Biltmore, a 186-unit apartment complex in Arlington. The garden-style property was built in 1978 and offers one- and two-bedroom units with an average size of 765 square feet. Michael Ware, Taylor Hill, Drew Kile, Joey Tumminello and William Hubbard of IPA represented the seller, Legacy REI Group, in the transaction and procured the buyer, Lynba Holdings.

October 29, 2024

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