Property Type

Equus Acquires Industrial Portfolio in North Carolina for $124M

by John Nelson March 11, 2024

PHILADELPHIA — Philadelphia-based Equus Capital Partners has acquired an industrial portfolio in North Carolina totaling more than 1.4 million square feet. An Equus-sponsored value-added fund doing business as Equus Investment Partnership XII LP purchased the portfolio, which is situated in metro Charlotte and metro Greensboro, earlier this month for $124 million. The nine-building portfolio features buildings ranging from 38,480 to 382,668 square feet in size. The buildings were fully leased at the time of sale to tenants including FedEx, Lenovo and American Woodmark. Eight of the buildings are located in metro Charlotte and together total 1.2 million square feet, with the ninth building located in metro Greensboro spanning 241,050 square feet.

March 11, 2024

Development Industrial South Carolina Southeast

Crescent Communities Delivers 50,276 SF Industrial Facility in Metro Charlotte for Goodwill

by John Nelson March 11, 2024

ROCK HILL, S.C. — Crescent Communities has completed the development of a 50,276-square-foot build-to-suit industrial facility located on Galleria Boulevard in Rock Hill, roughly 30 miles outside Charlotte. Goodwill Industries of the Southern Piedmont is the tenant. The warehouse, which is situated within the AXIAL Southgate 77 campus, features 32-foot clear heights, an ESFR sprinkler system, 53 dock-high loading doors, four pit levelers, two drive-in doors and 2,500 square feet of office space. AXIAL Southgate 77 totals 270,557 square feet, including a 220,281-square-foot warehouse that is scheduled for completion this May.

March 11, 2024

Acquisitions North Carolina Retail Southeast

Marcus & Millichap Brokers $10.5M Sale of Berkeley Plaza Shopping Center in Goldsboro, North Carolina

by John Nelson March 11, 2024

GOLDSBORO, N.C. — Marcus & Millichap has brokered the $10.5 million sale of Berkeley Plaza, a 101,812-square-foot shopping center in Goldsboro, about 55 miles southeast of Raleigh. Tenants at the property, which was fully occupied at the time of sale, include Big Lots, Gold’s Gym, Staples, Books-A-Million, AT&T and U.S. Armed Forces. Andrew Margulies, Harrison Creason and Harrison Jones of Marcus & Millichap represented the seller, a North Carolina-based investor, in the transaction. Bold Commercial Real Estate represented the buyer, a family office.

March 11, 2024

Acquisitions Multifamily Texas

MLG Capital Sells 323-Unit Copperfield Apartments in Fort Worth

by Taylor Williams March 11, 2024

FORT WORTH, TEXAS — Wisconsin-based investment firm MLG Capital has sold Copperfield Apartments, a 323-unit multifamily community located on the southwest side of Fort Worth. Copperfield Apartments offers one- and two-bedroom units and amenities such as a pool, fitness center, outdoor grilling and dining stations, business center, package lockers and onsite laundry facilities. Michael Ware, Taylor Hill, Drew Kile, Joey Tumminello, Will Balthrope, William Hubbard and Cameron Purse of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented MLG Capital, which purchased the property in 2019, in the transaction. The team also procured the buyer, Dallas-based investment firm Rise48 Equity, which plans to invest about $9 million in capital improvements and rebrand the property as Rise Spring Pointe. Brian Eisendrath, Cameron Chalfant, Jake Vitta and Jesse Zarouk, also with IPA, arranged an undisclosed amount of acquisition financing for the deal.

March 11, 2024

Acquisitions Office Texas

JLL Brokers Sale of 171,055 SF Office Complex in Metro Houston

by Taylor Williams March 11, 2024

SUGAR LAND, TEXAS — JLL has brokered the sale of The Offices at Kensington, a 171,055-square-foot office complex located in the southwestern Houston suburb of Sugar Land. The complex consists of two four-story buildings that had a combined occupancy rate of 84 percent at the time of sale. Rick Goings and Marty Hogan of JLL represented the seller, California-based investment firm Buchanan Street Partners, in the transaction. Michael Johnson and Michael King, also with JLL, arranged an undisclosed amount of fixed-rate acquisition financing on behalf of the buyer, Houston-based private equity firm DML Capital.

March 11, 2024

Acquisitions Healthcare Texas

Partners Real Estate Arranges Sale of Medical Office Building in Metro Dallas

by Taylor Williams March 11, 2024

ALLEN, TEXAS — Partners Real Estate has arranged the sale of a medical office building in the northeastern Dallas suburb of Allen. According to LoopNet Inc., the building totals 5,883 square feet, was built in 2002 and renovated in 2023. Ryan McCullough and Bennett Greenbaum of Partners represented the seller, an entity doing business as 107 Suncreek LLC, in the transaction. The buyer and sales price were not disclosed.

March 11, 2024

Leasing Activity Office Texas

Carter & Co. Signs 7,205 SF Office Lease Renewal in North Dallas

by Taylor Williams March 11, 2024

DALLAS — Accounting firm Carter & Co. has signed a 7,205-square-foot office lease renewal in North Dallas. The company renewed a year before the expiration of its lease at Highland Park West, a 51,847-square-foot complex that is now 96 percent leased. Jared Laake and Richmond Collinsworth of Bradford Commercial Real Estate Services represented the landlord in the lease negotiations. Bill Zei of McLeod-Zei Inc. represented the tenant.

March 11, 2024

Leasing Activity Office Texas

Cypressbrook Negotiates 6,874 SF Office Lease in North Houston

by Taylor Williams March 11, 2024

HOUSTON — Locally based brokerage firm Cypressbrook Co. has negotiated a 6,874-square-foot office lease at The Meadows at Interwood in North Houston. According to LoopNet Inc., the building was constructed in 1984 and spans 146,685 square feet. John Hornbuckle of Cypressbrook represented the tenant, ABM Insurance & Benefit Services, in the lease negotiations. Valere Costello of Brummett & Co. represented the landlord.

March 11, 2024

Affordable Housing Loans Massachusetts Multifamily Northeast Seniors Housing

MassDevelopment Provides $39.9M Bond Financing for Affordable Seniors Housing Project in Boston

by Taylor Williams March 11, 2024

BOSTON —MassDevelopment has provided $39.9 million in tax-exempt bond financing for a 115-unit affordable seniors housing project in the Brookline area of Boston. The property will feature one-bedroom units that will be reserved for renters earning 60 percent or less of the area median income and will replace 60 outdated existing public housing units. Bond proceeds will also be used to build 32 parking spaces. Construction began in January and is scheduled for completion in December 2025. The borrower, 32 Marion Apartments LLC, is a for-profit affiliate of the Brookline Housing Authority. Eastern Bank and Rockland Trust purchased the bond.

March 11, 2024

Acquisitions Industrial New Jersey Northeast Self-Storage

Marcus & Millichap Brokers Sale of 322-Unit Self-Storage Facility in Phillipsburg, New Jersey

by Taylor Williams March 11, 2024

PHILLIPSBURG, N.J. — Marcus & Millichap has brokered the sale of Access Self Storage, a 322-unit facility in Phillipsburg, located along the New Jersey-Pennsylvania border. The facility was built on a little less than a full acre in 2018 and comprises 18,074 net rentable square feet of climate-controlled space. Luke Dawley, Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer was also not disclosed. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record.

March 11, 2024

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