BROOKFIELD, WIS. — NAI Greywolf has negotiated two office leases totaling 22,500 square feet at Executive Center V in Brookfield, a suburb of Milwaukee. Heuer Law Offices SC leased 3,074 square feet with a lease term of more than five years. Common Ground Inc., a healthcare insurance solution for small businesses, nonprofits, individuals and families, leased 19,675 square feet. Matt Hock of NAI Greywolf represented the undisclosed landlord. The property is located at 300 N. Executive Drive.
BECKER, MINN. — Marcus & Millichap has arranged the $1 million sale-leaseback of a 14,380-square-foot industrial facility in Becker, about 47 miles northwest of Minneapolis. The property is located at 14105 Commerce Drive. Brandon Houghtaling and Peter Doughty of Marcus & Millichap represented the seller, a private investor. The property was offered as a sale-leaseback with an initial five-year lease term. The buyer was undisclosed.
MILWAUKEE — Klement’s Sausage Co. has signed a 3,091-square-foot office lease at the Timbers Building within the Tannery Office Complex in Milwaukee. The property is located at 700 W. Virginia St. John Davis and Ned Purtell of Founders 3 Real Estate Services represented the owner, R2 Properties. Klement’s has been making small batch, handcrafted sausages in Milwaukee for more than 60 years.
FAIRFIELD, N.J. — Cushman & Wakefield has negotiated a 22,523-square-foot industrial lease in the Northern New Jersey community of Fairfield. The recently renovated building at 123 Lehigh Drive features a clear height of 24 feet and two dock-high doors. Bill Waxman, Morgan Nitti, Jeff Volpi, Mindy Lissner and David Gheriani of Cushman & Wakefield represented the landlord, The Stro Cos., in the lease negotiations. Brian Wilson of Resource Realty represented the tenant, Moda Foods. The deal brings the building to full occupancy.
UNION, N.J. — Automotive repair company Caliber Collision has signed an 11,815-square-foot retail lease in the Northern New Jersey community of Union. According to LoopNet Inc., the single-tenant property at 2260 Route 22 E was originally built in 2000. Neil Goldstein and John Ostrowski of The Goldstein Group represented the undisclosed landlord in the lease negotiations. Sean Pyle and Justin Korinis of Sabre Real Estates Advisors represented Caliber Collision.
NEW YORK CITY — A joint venture between Douglaston Development and the Entertainment Community Fund has received construction financing for Rialto West, a $125 million affordable housing development in Manhattan’s Hell’s Kitchen neighborhood. Located at 509 W. 48th St., the eight-story building will include 158 units for low- and moderate-income residents. Rialto West will feature a mix of studio, one-, two- and three-bedroom units that will be designated for households earning up to 140 percent of the area median income. Fifteen percent of the units will be dedicated to serving formerly homeless households. Shared amenity spaces will include a fitness center, laundry room and bicycle storage area. Additionally, the development’s ground floor will include more than 5,500 square feet of cultural space as well as a public restroom facing an approximately 25,000-square-foot public plaza that will be built at 705 Tenth Ave. The NYC Department of Parks and Recreation will operate the public open space, which is to be named after Lorraine Hansberry, the famed playwright and author of “A Raisin in the Sun.” The developers are in discussions with IndieSpace, a provider of affordable workspaces for artists, to lease and operate rehearsal and coworking spaces at the property. The …
HOUSTON — New York-based global investment firm GTIS Partners has begun construction on Port 225 Commerce Center, a 484,000-square-foot industrial project located near Port Houston in southeast Houston. The development will consist of a 355,071-square-foot, cross-dock building and a 128,999-square-foot, rear-load building on a 26-acre site. Building features will include 36- and 32-foot clear heights, respectively, and combined parking for 382 cars and 93 trailers. Construction is scheduled for a fall completion. Other project partners include Angler Construction, Powers Brown Architecture, Langan Engineering and Cushman & Wakefield as the leasing agent.
HOUSTON — Midway has broken ground on CITYCENTRE Six, a 320,000-square-foot office building within the locally based developer’s CITYCENTRE mixed-use destination in West Houston. Additionally, Midway has named global chemical and building materials supplier Dow as the anchor tenant. Dow will occupy about 208,000 square feet within the 19-story building, which will include 12,000 square feet of retail and restaurant space and onsite parking. The design team includes architect of record Kirksey, Munoz + Albin Architecture & Planning and OJB Landscape Architecture. Construction is slated for a 2026 completion.
TEXARKANA, TEXAS — A joint venture between two investment firms, New Jersey-based Reynolds Asset Management and Dallas-based Newport Capital Advisors, has purchased two multifamily properties in Texarkana, located near the Texas-Arkansas border. The sales price was $23 million. The properties include Westridge Apartments (176 units) and Park at Summerhill (184 units). The seller was not disclosed. John Hamilton of Marcus & Millichap brokered the deal. Allan Edelson and Joe Tarantino of Walker & Dunlop originated an undisclosed amount of Fannie Mae acquisition financing on behalf of the joint venture, which plans to invest $3 million in capital improvements across both assets.
HUMBLE, TEXAS — Colliers has brokered the sale of Deer Springs Apartments, a 128-unit multifamily complex located in the northeastern Houston suburb of Humble that was built in 1984. According to Apartments.com, the age-restricted complex offers one-, two- and three-bedroom units, as well as a pool and onsite laundry facilities. Chip Nash, Bob Heard, Kitty Wallace and Jaleel Adatia of Colliers represented the seller, Alphil Investments, in the transaction. The undisclosed buyer plans to implement a value-add program.
