Property Type

Raceway-Northwest-Distribution-Center-Houston

KHD Group Signs 156,483 SF Industrial Lease in Northwest Houston

by Taylor Williams August 4, 2023

HOUSTON — Furniture vendor and supplier KHD Group has signed a 156,483-square-foot industrial lease at Raceway Distribution Center Northwest in northwest Houston. The tenant will occupy the entirety of the speculative building, which was developed by Stream Realty Partners and completed earlier this year. Building features include 36-foot clear heights, 25 dock-high doors and parking for 109 vehicles and 22 trailers. Jeremy Lumbreras and Boone Smith represented Stream in the lease negotiations on an internal basis. Pinnacle Real Estate Group represented KHD Group.

August 4, 2023

Leasing Activity Office Texas

Cushman & Wakefield Negotiates 90,609 SF Office Headquarters Lease in Uptown Dallas

by Taylor Williams August 4, 2023

DALLAS — Cushman & Wakefield has negotiated a 90,609-square-foot office headquarters lease at One Victory Park in Uptown Dallas. The tenant, energy company HF Sinclair Corp., will occupy three of the building’s 20 floors. Matt Schendle, Cynthia Cowen and Carrie Halbrooks of Cushman & Wakefield represented the landlord, New York-based Clarion Partners, in the lease negotiations. Phil Puckett and Harlan Davis of CBRE represented HF Sinclair.

August 4, 2023

Acquisitions Industrial Texas

Marcus & Millichap Brokers Sale of 21,000 SF Industrial Complex in Midland, Texas

by Taylor Williams August 4, 2023

MIDLAND, TEXAS — Marcus & Millichap has brokered the sale of a two-building, 21,000-square-foot industrial complex in the West Texas city of Midland. Built on 10 acres in 2011, the property was fully occupied at the time of sale by Arkos Field Services, which provides compression equipment for the natural gas industry. Adam Abushagur, Davis Cagle and Nathan Parkey of Marcus & Millichap represented the seller, a private investor, in the transaction. Additional terms of sale were not disclosed.

August 4, 2023

Acquisitions Retail Texas

STRIVE Negotiates Sale of 10,033 SF Retail Strip Center in Northwest Houston

by Taylor Williams August 4, 2023

HOUSTON — Dallas-based brokerage firm STRIVE has negotiated the sale of Greenwillow Shopping Center, a 10,033-square-foot, fully leased retail strip center in northwest Houston. According to LoopNet Inc., the property was built in 2003. Michael Hill and Jake Dutson of STRIVE represented the seller, a California-based private investor, in the transaction. The duo also procured the buyer, a local investor. Both parties requested anonymity.

August 4, 2023

Acquisitions Multifamily New Jersey Northeast

Colony Hills Capital Acquires Central New Jersey Apartment Community for $115M

by Taylor Williams August 4, 2023

PLAINSBORO, N.J. — Massachusetts-based investment firm Colony Hills Capital has acquired Addison at Princeton Meadows, a 440-unit apartment community located in the Central New Jersey community of Plainsboro. The sales price was $115 million. The garden-style property offers studio, one- and two-bedroom units and amenities such as a pool, fitness center, tennis court, basketball court, dog park and outdoor grilling and dining stations. Allan Szlafrok, Eli Maryl, Ohad Babo, and Michael Weiser of GFI Realty Services represented Colony Hills Capital, which plans to implement a value-add program, in the transaction. JLL represented the seller, New Jersey-based Kushner Real Estate Group (KRE).

August 4, 2023

Acquisitions Northeast Pennsylvania Retail

JLL Negotiates $23.1M Sale of Shopping Center in East Norriton, Pennsylvania

by Taylor Williams August 4, 2023

EAST NORRITON, PA. — JLL has negotiated the $23.1 million sale of Dekalb Plaza, a 178,356-square-foot shopping center in East Norriton, a northwestern suburb of Philadelphia. Urban Air and Big Lots anchor the open-air center, which was 98 percent leased at the time of sale. Other tenants include Goodwill, Chick-fil-A, Applebee’s, Sally Beauty and Celebree School, and the roster carries a remaining weighted average lease term of 5.7 years. Christopher Munley, Jim Galbally, Colin Behr and James Graf of JLL represented the seller, Broad Street Realty, in the transaction. The buyer was Abrams Realty & Development.

August 4, 2023

Rowen-at-the-Pinehills-Plymouth-Massachusetts

Development Massachusetts Multifamily Northeast

Bozzuto Begins Leasing 178-Unit Apartment Complex in Plymouth, Massachusetts

by Taylor Williams August 4, 2023

PLYMOUTH, MASS. — Maryland-based developer Bozzuto has begun leasing Rowen at The Pinehills, a 178-unit apartment complex in Plymouth, located in the southern coastal part of The Bay State. The four-story building houses one-, two- and three-bedroom units that feature stainless steel appliances, quartz countertops and tile backsplashes. Select residences also offer private balconies/patios. The amenity package consists of a pool, landscaped courtyards, fitness center with yoga and Pilates studios, a library with coworking spaces, entertainment and demonstration kitchen, billiards room, pet spa and storage lockers. Rents start at $2,550 per month for a one-bedroom apartment.

August 4, 2023

Chilton-Hall-Apartments-Elizabeth-New-Jersey

Acquisitions Multifamily New Jersey Northeast

Gebroe-Hammer Arranges Sale of 126-Unit Multifamily Property in Elizabeth, New Jersey

by Taylor Williams August 4, 2023

ELIZABETH, N.J. — Locally based brokerage firm Gebroe-Hammer Associates has arranged the sale of Chilton Hall Apartments, a 126-unit multifamily property located in the Northern New Jersey community of Elizabeth. The garden-style property comprises 21 buildings on a four-acre site, and the unit mix consists of 60 one-bedrooms and 66 two-bedrooms. Stephen Tragash of Gebroe-Hammer represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

August 4, 2023

Affordable Housing Loans Massachusetts Multifamily Northeast

MassHousing Provides $13.3M in Financing for Affordable Housing Complex in Springfield, Massachusetts

by Taylor Williams August 4, 2023

SPRINGFIELD, MASS. — MassHousing has provided $13.3 million in financing for Van der Heyden Apartments, an affordable housing complex located in the western Massachusetts city of Springfield. The undisclosed borrower will use the proceeds to acquire and renovate the property as well as preserve its affordability status. Built in 1914, the property totals 45 units. Under the new affordability agreement, 18 of the units are reserved for households earning 30 percent or less of the area median income (AMI). The other 27 are earmarked for renters earning 50 percent or less of AMI. Residences come in one- and two-bedroom floor plans. As part of the renovation, the building’s commercial space will be converted into a supportive services area with an office and meeting room.

August 4, 2023

Illinois Leasing Activity Midwest Office Retail

New Tenants to Open at Bell Works Chicagoland

by Kristin Harlow August 4, 2023

HOFFMAN ESTATES, ILL. — New tenants have signed leases totaling more than 80,000 square feet at Bell Works Chicagoland, the redevelopment of the former AT&T campus in Hoffman Estates undertaken by Inspired by Somerset Development. Nine new office and retail tenants have signed leases in recent weeks, bringing the campus to a total of 250,000 square feet leased to date. Cambium Networks, a global provider of networking solutions, is relocating its headquarters to Bell Works Chicagoland and will occupy 35,000 square feet. The company will maintain development and engineering labs on the first floor of the building, and its corporate offices and conference rooms on the fourth floor. Cambium Networks expects to take occupancy in March 2024. Digital advertising agency JumpFly will move its 60 employees to an 11,000-square-foot space in December. VIPAR Heavy Duty Inc., an independent aftermarket truck parts distributor and service provider, signed a long-term lease for 11,000 square feet. The company will relocate its global headquarters and 35 employees to the campus. The build-out of the company’s space is slated for completion this month. An unnamed electronic components and services company signed a lease for 9,000 square feet. Additionally, more than 9,000 square feet has been …

August 4, 2023

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