Property Type

Greystar Breaks Ground on 314,938 SF Industrial Project in San Marcos, Texas

by Taylor Williams August 25, 2023

SAN MARCOS, TEXAS — South Carolina-based developer Greystar has broken ground on a 314,938-square-foot industrial project in San Marcos, located roughly midway between Austin and San Antonio. The three-building project represents Phase II of Whisper 35, a five-building, 494,926-square-foot development. Completion of Phase II is slated for early 2024. Sam Owen and Adam Green of Stream Realty Partners, the leasing agents for Whisper 35, also recently secured a lease with logistics company Manifest Commerce to bring Phase I to full occupancy.

August 25, 2023

Acquisitions Multifamily Texas

Marcus & Millichap Brokers Sale of 42-Unit Multifamily Property in Fort Worth

by Taylor Williams August 25, 2023

FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Villa Capri, a 42-unit multifamily property in Fort Worth. According to Apartments.com, the property was built in 1959 and offers studio, one- and two-bedroom units. Al Silva, Ford Braly and Dylan York of Marcus & Millichap represented the undisclosed seller and procured an undisclosed, out-of-state partnership as the buyer.

August 25, 2023

Industrial Leasing Activity Texas

MHC Truck Leasing Signs 20,020 SF Industrial Lease in Grand Prairie, Texas

by Taylor Williams August 25, 2023

GRAND PRAIRIE, TEXAS — MHC Truck Leasing has signed a 20,020-square-foot industrial lease at 2626 W. Pioneer Parkway in Grand Prairie, located in the central part of the metroplex. The site spans 5.2 acres, and the building was completed in 2022, according to LoopNet Inc. Jarrett Huge and Alex Wilson of Lee & Associates represented tenant and the landlord, an entity doing business as Abdalla 2816 Pioneer LLC, in the lease negotiations.

August 25, 2023

Acquisitions Civic Texas

Oxford Partners Arranges Sale of 5,000 SF Church in North Houston

by Taylor Williams August 25, 2023

HOUSTON — Locally based brokerage firm Oxford Partners has arranged the sale of a 5,000-square-foot church located at 634 W. Cottage St. in North Houston. According to LoopNet Inc., the property was built in 1927. D.J. Hale of Oxford Partners represented the buyer, Hope Lutheran Church, in the transaction. Marcela Amador of Home Central Real Estate Inc. represented the undisclosed seller.

August 25, 2023

Acquisitions Colorado Life Sciences Net Lease Western

Real Capital Solutions Buys Medtronic Lafayette Campus in Colorado for $188M

by Amy Works August 25, 2023

LAFAYETTE, COLO. — Real Capital Solutions has acquired Medtronic Lafayette Campus from Ryan Cos. for $188 million. The acquisition consists of two five-story life sciences office buildings located at 200 and 250 Medtronic Drive in Lafayette, approximately 20 miles north of Denver. Completed earlier this year, the 42-acre, 404,159-square-foot property is Medtronic’s second largest U.S. campus, which will eventually house about 1,200 employees. As sole tenant of the property, the medical device company has a guaranteed, 20-year, triple-net lease.

August 25, 2023

Acquisitions California Multifamily Western

JRK Property Holdings Acquires Duo Apartments in San Jose for $93.5M

by Amy Works August 25, 2023

SAN JOSE, CALIF. — JRK Property Holdings has purchased Duo Apartments, a multifamily community in San Jose, for $93.5 million. Located at 6670 Emergent Way, Duo features 301 apartments and was 97 percent leased at the time of closing. Built in 2021 by the undisclosed seller, Duo features studio, one-, two- and three-bedroom apartments spread across two four-story residential buildings. Community amenities include controlled-access parking, a 24-hour fitness center, arcade room with high-definition golf stimulator, a resort-style pool with cabanas, coworking spaces with private conference rooms, and outdoor grilling areas. The acquisition of Duo was financed with a 10-year, fixed-rate loan from Freddie Mac. Institutional Property Advisors placed the loan and also marketed the property for sale on behalf of the seller. The acquisition is the third from the JRK Platform V, a Los Angeles-based real estate investment fund that targets higher quality, well-located multifamily investments built after 1990.

August 25, 2023

CapRock-Central-Point-III-Buliding-1-Visalia-CA

California Development Industrial Western

CapRock Partners Breaks Ground on 1.27 MSF Industrial Warehouse in Visalia, California

by Amy Works August 25, 2023

VISALIA, CALIF. — CapRock Partners has broken ground on Building 1 at CapRock Central Point III, a 2.7 million-square-foot speculative industrial complex in the San Joaquin Valley city of Visalia. Upon completion in third-quarter 2024, Building 1 will add 1.27 million square feet of Class A logistics and distribution space to the Central Valley. Situated on 75 acres, the cross-dock Building 1 warehouse will feature 40-foot clear heights, 274 dock-high doors and two ground-level doors. Additionally, the facility will include 6,600 square feet of office space, ample power, ESFR sprinklers, 890 auto parking stalls, a fully secured fenced yard, drive-around access, a truck court depth of 185 feet, dedicated truck circulation and 542 excess trailer parking spaces. Located at 4001 N. Plaza Drive, the four-building CapRock Central Point III offers tenants the ability to reach more than 50 million customers with one-day ground shipping. Designs for CapRock Central Point III’s Buildings 2, 3 and 4 are complete and approved. CapRock plans to seek LEED certification for the project.

August 25, 2023

Affordable Housing Loans Multifamily New York Northeast

Merchants Capital Provides $320M for Renovation of Bronx Affordable Housing Complex

by Taylor Williams August 25, 2023

NEW YORK CITY — Merchants Capital has provided $320 million in financing for the renovation of Edenwald Houses, an affordable housing complex in The Bronx that was originally developed in the 1950s and is home to more than 5,000 residents. The property is the second-largest New York City Housing Authority property in the state and the largest in The Bronx. Merchants Capital secured a New York Housing Development Corp. Freddie Mac Risk Share Loan on behalf of the property developer, Camber Property Group. The funds will support an intensive, four-year construction period to fully rehabilitate the property.

August 25, 2023

Development Multifamily Seniors Housing Washington Western

Emerald Communities Starts $55M Assisted Living Expansion at Emerald Heights in Redmond, Washington

by Amy Works August 25, 2023

REDMOND, WASH. — Emerald Communities has broken ground on an assisted living expansion project in Redmond, approximately 10 miles east of Seattle. The development will add 54 one-bedroom units to Emerald Heights, a continuing care retirement community. The project also includes a dining space, activity rooms, an outdoor patio and a centralized courtyard across 67,55 square feet. Development costs are estimated at $55 million. Dean Kelly of the architecture firm Rice Fergus Miller is leading the design, and also recently managed Emerald Heights’ new 42-unit independent living building and earlier expansion projects, which were completed in 2014. GLY Construction has been named as the builder. The project is scheduled for completion in late 2024. Emerald Heights is situated on 38 acres in the Education Hill area of Redmond.

August 25, 2023

Acquisitions California Retail Western

Marcus & Millichap Brokers $28.2M Sale of Shopping Center in Escondido, California

by Amy Works August 25, 2023

ESCONDIDO, CALIF. — Marcus & Millichap has arranged the sale of a shopping center located at the junction of California State Route 78 and Interstate 15 in Escondido. The asset traded for $28.5 million. Lowe’s Home Improvement Warehouse anchors the 179,514-square-foot center. The sale includes a separately parceled Panda Express with a drive-thru and fee simple ownership of a three-tenant retail building anchored by San Diego Gas and Electric. Ron Duong and Joe Berkson of Marcus & Millichap represented the seller, a private investor, while Duong, Berkson and Adams Attia of Marcus & Millichap represented the undisclosed buyer in the deal.

August 25, 2023

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