Property Type

Extra-Space-Storage-Huntington-Station-New-York

DXD Capital Delivers 664-Unit Self-Storage Facility on Long Island

by Taylor Williams November 25, 2024

HUNTINGTON STATION, N.Y. — Self-storage developer DXD Capital has delivered a 664-unit facility in the Long Island community of Huntington Station. The facility totals 62,125 net rentable square feet of space that will be entirely climate-controlled. Extra Space Storage is the operator of the facility, which will be the first new self-storage project to be built in Huntington Station in nearly three years, according to the development team. DXD Capital developed the property in partnership with Dallas-based investment firm Realty Capital Partners. Century Bank financed the project.

November 25, 2024

Acquisitions Retail Washington Western

Lightstone Group Acquires Outlet Collection Seattle Shopping Mall for $82M

by Amy Works November 25, 2024

AUBURN, WASH.— The Lightstone Group has acquired The Outlet Collection Seattle, an enclosed mall located in Auburn, roughly 30 miles south of Seattle. WPG sold the asset for $82 million. Located at 1101 Outlet Collection Way, the property offers 919,446 square feet of retail space. Tenants include Nordstrom Rack, Burlington, Best Buy, Dave & Busters, Polo Ralph Lauren, Kate Spade, Ulta Beauty, Coach, Nike, Adidas and Michael Kors. The mall was 98 percent occupied at the time of acquisition. Lightstone plans to implement $10 million of capital improvements and tenancy upgrades. Nicholas King, Michele Dawson and Scott Ferguson of FFO Real Estate Advisors will manage outlet leasing at the property on behalf of the buyer, and Spinoso Real Estate Group will handle big box and mall tenant leasing. Dino Christophilis, Richard Frolik, George Good and Daniel Tibeau of CBRE’s National Retail Partners represented the seller in the deal.

November 25, 2024

1690-S.-Washington-Ave.-Piscataway-New-Jersey

Development Industrial New Jersey Northeast

M&M Realty Completes 359,522 SF Industrial Project in Piscataway, New Jersey

by Taylor Williams November 25, 2024

PISCATAWAY, N.J. — Locally based developer M&M Realty Partners has completed a two-building, 359,522-square-foot industrial project in the Northern New Jersey community of Piscataway. Building A totals 184,848 square feet and features a clear height of 40 feet, 3,000 square feet of office space, 28 loading docks, two drive-in doors and parking for 157 cars and 30 trailers. Building B totals 174,674 square feet and offers almost identical design features. Cushman & Wakefield is marketing the property for lease.

November 25, 2024

Acquisitions California Retail Western

Faris Lee Negotiates $22.8M Sale of Santa Margarita Marketplace in Rancho Santa Margarita, California

by Amy Works November 25, 2024

RANCHO SANTA MARGARITA, CALIF. — Faris Lee Investments has arranged the all-cash sale of Santa Margarita Marketplace, a retail center in Rancho Santa Margarita. K&G Marketplace sold the asset to Curbline Properties, a publicly traded REIT, for $22.8 million. Starbucks Coffee, Luna Grill and Philly’s Best occupy the three-tenant, 29,418-square-foot pad building. Scott DeYoung, Chris DePierro, Jeff Conover and Greg Lukosky of Faris Lee represented the seller in the transaction.

November 25, 2024

Acquisitions Arizona Industrial Western

SKB, Arc Capital Partners Buy Two Industrial Buildings in Gilbert, Arizona for $19M

by Amy Works November 25, 2024

GILBERT, ARIZ. — A joint venture between Portland, Ore.-based SKB and Los Angeles-based Arc Capital Partners has acquired two manufacturing buildings in Gilbert from Walnut Creek, Calif.-based Nearon for $19 million. Located at 1250 and 1300 N. Fiesta Blvd., the freestanding buildings are fully leased to three tenants. Situated on 3.2 acres, 1250 North N. Blvd. offers 45,072 square feet of single-tenant space, which is fully leased to Kaiser Garage Doors & Gates. Fiesta Tech Center, located at 1300 N. Fiesta Blvd., consists of one freestanding building totaling 148,921 square feet on 12.4 acres. The multi-tenant property is primarily leased to MKB Construction and Symage. Both properties offer ample power, excess yard space and convenient access to Loop 101, US-60 and Loop 202. Phil Haenel, Will Strong, Foster Bundy and Katie Repine of Cushman & Wakefield’s Private Capital Group represented the buyer and seller in the deal.

November 25, 2024

California Development Multifamily Student Housing Western

Sundt Construction Begins Redevelopment of Two Residence Halls at California State University, Fullerton Campus

by Amy Works November 25, 2024

FULLERTON, CALIF. — Sundt Construction has broken ground on the redevelopment of two residence halls on the California State University, Fullerton campus. The project will replace the Jewel Plummer and Cobb Residence Halls, which were the first residence halls built on campus in 1979. The new 175,000-square-foot facility will offer 500 beds in two-bedroom units with bed-to-bath parity for residents; two-bedroom apartments for staff; and one-bedroom units for residence advisors. The project will also include shared amenity space on the ground floor, an updated connection to the university’s arboretum and an 82-space parking lot. A timeline for the development was not announced.

November 25, 2024

Leasing Activity New Jersey Northeast Retail

Target to Open 75,500 SF Store in Flemington, New Jersey

by Taylor Williams November 25, 2024

FLEMINGTON, N.J. — Target will open a 75,500-square-foot store in the Central New Jersey community of Flemington. The store will be located within a space formerly occupied by Burlington at the 239,000-square-foot Flemington Marketplace shopping center. Vanessa Kelty of Levin Management Corp. represented the landlord, an institutional client of New York Life Real Estate Investors, in the lease negotiations. Jeff Howard of Ripco Real Estate represented Target, which expects to open its Flemington store next fall.

November 25, 2024

Arizona Development Healthcare Office Western

Okland Capital Breaks Ground on 68,000 SF Celebration Medical Center in Gilbert, Arizona

by Amy Works November 25, 2024

GILBERT, ARIZ. — Okland Capital has started construction for Celebration Medical Center, a medical office project in Gilbert. CBRE is marketing the facility for lease. Located at 3275 S. Mercy Road, the three-story building will offer 68,000 square feet of Class A medical office space divided into eight suites. The property is more than 30 percent pre-leased, with two undisclosed tenants.

November 25, 2024

Leasing Activity New York Northeast Office

Kauff McGuire & Margolis Signs 17,320 SF Office Lease in Midtown Manhattan

by Taylor Williams November 25, 2024

NEW YORK CITY — Kauff McGuire & Margolis LLP has signed a 17,320-square-foot office lease in Midtown Manhattan. The law firm has committed to the 33rd floor of the building at 810 Seventh Ave. for a term of 10 years. Peter Trivelas, Justin Royce and Justin Sodokoff of Cushman & Wakefield represented the tenant in the lease negotiations. Harry Blair, Tara Stacom, Barry Zeller and Pierce Hance, also with Cushman & Wakefield, represented the landlord, SL Green.

November 25, 2024

Loans Midwest Missouri Office Walker & Dunlop

Walker & Dunlop Arranges $65M Loan for Refinancing of Plaza Vista Offices in Kansas City

by Kristin Harlow November 25, 2024

KANSAS CITY, MO. — Walker & Dunlop has arranged a $65 million loan for the refinancing of Plaza Vista Offices in Kansas City. Located at 900 W. 48th St. on the west side of the Country Club Plaza, the property serves as the headquarters of Polsinelli PC. The development features a 10-story building totaling 253,736 square feet situated above a 950-space underground parking garage. Joseph Platt of Walker & Dunlop arranged the fixed-rate loan through Bank of America on behalf of the borrower, Platform Ventures LLC.

November 25, 2024

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