Property Type

Heisler Hospitality Signs 10,000 SF Lease in Chicago’s Fulton Market for New Restaurant

by Kristin Harlow November 2, 2023

CHICAGO — Heisler Hospitality has signed a 10,000-square-foot lease to occupy the entire building at 165 N. Morgan St. in Chicago’s Fulton Market. Heisler, led by entrepreneur Matt Eisler and designer Kevin Heisner, plans to open Pizza Lobo in the space in summer 2024. The lease marks Heisler’s fourth establishment in Chicago. The restaurateurs also operate Nights & Weekends and Lone Wolf in the West Loop and Estereo FM in Fulton Market. Fulton Street Cos. (FSC) owns the building at 165 N. Morgan St. along with partner Fred Latsko of Latsko Interests, which brought Guinness Open Gate Brewery to Chicago. FSC purchased the single-tenant property in December 2021 from a private investor. Previously housing the corporate offices of Tenzing Wine & Spirits, the building features a private, 2,500-square-foot outdoor courtyard.

November 2, 2023

Development Multifamily New Jersey Northeast

UNLMTD Real Estate Underway on 300-Unit Multifamily Project in Fort Lee, New Jersey

by Taylor Williams November 2, 2023

FORT LEE, N.J. — Regional developer UNLMTD Real Estate is underway on construction of FIAT House, a 300-unit multifamily project in the Northern New Jersey community of Fort Lee. The site is located at the foot of the George Washington Bridge. Units will come in studio, one- and two-bedroom formats, and the property will house more than 30,000 square feet of amenity and social gathering spaces. The first units are expected to be available for occupancy in early 2024. The developer is constructing the project in partnership with Italian automaker FIAT, and residents will have access to a car-sharing program of FIAT electric vehicles.

November 2, 2023

Affordable Housing Colorado Development Multifamily Western

TWG to Convert Former Hotel into $35M Affordable Housing Property in Durango, Colorado

by Amy Works November 2, 2023

DURANGO, COLO. — TWG has started the development of Residences at Durango, a $35 million affordable multifamily community at 21382 US 160 W. in Durango, a small city in southwestern Colorado. Partners on the project include the Colorado Housing and Finance Authority, R4 Capital, Colorado Division of Housing, the City of Durango, Project Moxie and RCH Jones. Residences at Durango is an adaptive reuse of a former hotel, which will be converted into 72 studio, one- and two-bedroom units. The new construction will add two three-story buildings, with two- and three-bedroom options, adding an additional 48 apartments. Each unit is restricted to families with incomes ranging from 30 to 60 percent of the area median income or less. Community amenities will include a business center, exercise facility, central laundry facility, playground, picnic area and common area Wi-Fi. Construction is slated for completion by early 2025.

November 2, 2023

Acquisitions California Retail Western

West Village Sells Rancho Santa Fe Plaza in Encinitas, California for $26M

by Amy Works November 2, 2023

ENCINITAS, CALIF. — West Village has completed the disposition of Rancho Santa Fe Plaza, a shopping center located at 162 S. Rancho Santa Fe Road in Encinitas, a northern suburb of San Diego. Corona del Mar-based Space Investment Partners acquired the asset for $26 million. Harvest Ranch Market anchors the 60,492-square-foot retail center. The new owners are planning major enhancements and aesthetic improvements to the property. Mike Moser of Retail Insite represented the seller in the deal.

November 2, 2023

Acquisitions Industrial NAI New Jersey Northeast

NAI DiLeo-Bram Arranges $21M Sale of Northern New Jersey Warehouse

by Taylor Williams November 2, 2023

LINDEN, N.J. — NAI DiLeo-Bram has arranged the $21 million sale of a 67,355-square-foot warehouse in the Northern New Jersey community of Linden. The facility at 1900 Lower Road is located adjacent to an Amazon fulfillment center and has housed the operations of electrical and industrial distribution company Turtle & Hughes since its original construction in 1960. Christopher Galiano of NAI DiLeo-Bram represented the buyer, Service Truck Tire Center, which plans to occupy the property and implement a value-add program, in the deal.

November 2, 2023

University of Washington Bothell Phase 1 Residential Village

Development Multifamily Student Housing Washington Western

P3 Completes Phase I of Residential Village at the University of Washington Bothell

by Amy Works November 2, 2023

BOTHELL, WASH. — A public-private partnership between the University of Washington (UW) Bothell, Capstone Development Partners and Harrison Street has completed the development of Phase I of its on-campus Residential Village project. The initial phase of the project included the delivery of two new buildings: Summit Hall and Terrace Dining Pavilion. Summit Hall offers 380 beds of housing for first-year students in double-occupancy units, alongside 14,000 square feet of office space on the ground level for university enrollment services. The 15,000-square-foot dining pavilion seats 485 students and offers multiple dining options for students, as well as faculty and staff. Phase II of the development is currently under construction and will include a 300,000-square-foot residence hall offering 1,055 beds for undergraduate and graduate students. The project is scheduled for completion in summer 2024. The development team includes Mahlum Architects and Andersen Construction. Capstone Management Partners will provide operations and management services for the facilities in conjunction with UW Bothell’s residential life team. Bothell is a suburb north of Seattle.

November 2, 2023

Acquisitions California Industrial Western

Harbor Associates, F&F Capital Buy Industrial Portfolio in Carlsbad, California for $21.2M

by Amy Works November 2, 2023

CARLSBAD, CALIF. — A joint venture between Harbor Associates and F&F Capital Group has acquired two industrial buildings at 5801 and 5807 Van Allen Way in Carlsbad, approximately 30 miles north of San Diego. An undisclosed seller sold the portfolio for $21.2 million, or $208 per square foot. Situated within Carlsbad Research Center, the 102,360-square-foot portfolio features passive solar cooling with operable windows, two dock-high doors, three grade-level doors and street frontage along Faraday Avenue. The sale included a leaseback with the seller at 5807 Van Allen Way. The buyers will market 5801 Van Allen Way to traditional industrial and life science users. Dennis Visser and Matt Pourcho of CBRE advised the seller in the deal.

November 2, 2023

Industrial Leasing Activity New York Northeast

Fleet Pump & Service Group Signs 31,255 SF Industrial Lease Renewal in White Plains, New York

by Taylor Williams November 2, 2023

WHITE PLAINS, N.Y. — Fleet Pump & Service Group has signed a full-building, 31,255-square-foot industrial lease renewal at 455 Knollwood Road in White Plains, a northern suburb of Manhattan. Rick Rakow of Rakow Commercial Realty Group represented the tenant in the lease negotiations. Josh Gopan and Sean Heneghan represented the landlord, Simone Development, on an internal basis.

November 2, 2023

Acquisitions Arizona Net Lease Retail Western

Marcus & Millichap Brokers Sale of 3,200 SF Retail Property in Glendale, Arizona

by Amy Works November 2, 2023

GLENDALE, ARIZ. — Marcus & Millichap has arranged the sale of a ground lease at SWC Loop 101 and Northern Avenue in Glendale. A limited liability company sold the asset to a limited liability company for $2.3 million. The asset includes a 3,200-square-foot Slim Chickens location, which has an absolute triple-net ground lease with 20 years remaining. Nick Christifulli, Mark Ruble and Chris Lind of Marcus & Millichap’s Phoenix office represented the seller and buyer in the transaction.

November 2, 2023

Industrial Leasing Activity Northeast Pennsylvania

TRUE Commercial Negotiates 15,100 SF Lease at BURLE Corporate Park in Lancaster, Pennsylvania

by Taylor Williams November 2, 2023

LANCASTER, PA. — Locally based brokerage firm TRUE Commercial Real Estate has negotiated a 15,100-square-foot lease at BURLE Corporate Park, a commercial facility located about 80 miles west of Philadelphia in Lancaster. Althea Ramsay Carrigan of TRUE Commercial represented the landlord in the lease negotiations. The tenant was HealthDirect Pharmacy Services.

November 2, 2023

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