BRISTOL, CONN. — JLL has brokered the sale of Bristol Plaza, a 263,829-square-foot shopping center located approximately 20 miles southwest of Hartford, for $44.4 million. Anchored by regional grocer Stop & Shop, Bristol Plaza was 93.1 percent leased at the time of sale. Other tenants include T.J. Maxx, Burlington, Dollar Tree and Starbucks. Chris Angelone, Zach Nitsche, Alex Quinn, Sam Wiesman and Henry Schaffer of JLL represented the seller, Federal Realty Investment Trust, in the deal. The buyer was Sterling Organization.
BUFFALO, N.Y. — Locally based financial intermediary Largo Capital has arranged a $43.5 million CMBS loan for the refinancing of a 323,260-square-foot industrial building in Buffalo. The address was not disclosed. Completed in 2022, the rail-served building features a clear height of 40 feet and was fully leased at the time of the loan closing. Jack Phillips led the transaction for Largo Capital. The borrower and direct lender were also not disclosed.
FAIRFIELD, N.J. — A joint venture between Legacy Real Estate Developers and Commerce Park Investors has acquired a 26,630-square-foot industrial building in the Northern New Jersey community of Fairfield. The partnership plans to redevelop the building at 611 Union Blvd., which was originally constructed in 1980 as the home of the Knickerbocker Machine Shop, to support retail and flex uses in addition to industrial. Howard Weinberg of JLL brokered the sale. The seller and sales price were not disclosed.
DES PLAINES, ILL. — Greystone has provided a $115 million Freddie Mac loan to refinance Courtlands on the Park, a 918-unit multifamily community in Des Plaines. Eric Rosenstock of Greystone originated the loan on behalf of the borrower, CLK Properties. Built in 1973, Courtlands on the Park is a garden-style community with 153 buildings. The units have been recently renovated with modern appliances and finishes. Amenities include a playground, dog park, grilling stations and onsite parking. The nonrecourse, fixed-rate loan features a five-year term and 30-year amortization along with three years of interest-only payments. The loan refinances the bridge financing used to acquire the property in 2019 and enables the borrower to use a portion of the equity in the property.
CHICAGO — JLL Capital Markets has arranged $38.1 million in senior construction financing and $6 million in preferred equity for 310 West Huron, a 149-unit luxury apartment complex in Chicago’s River North. Christopher Knight, Mary Dooley and Ryan Planek of JLL secured the three-year construction facility through CIBC and preferred equity investment from N3 Capital Management on behalf of the borrower, a joint venture between Third Coast Real Estate and ZSD. The nine-story, 134,000-square-foot building will feature studios, one- and two-bedroom units, including 11 two-story units with private patios. Amenities will include a rooftop lounge with fitness center, coworking space, ground-floor coffee bar and outdoor deck with grills. The project will feature 3,700 square feet of ground-floor retail space and 21 parking spaces. Construction is underway, with completion slated for March 2027.
LINCOLN, NEB. — The Lied Center for Performing Arts in Lincoln has begun “Building the Future,” a $35 million privately funded addition and renovation to Nebraska’s Performing Arts Center, which is located at the University of Nebraska-Lincoln. The project will include a new entrance along Q Street as well as enhanced lobbies, a new studio theater and numerous other enhancements. Construction site preparations began in early February following the project’s approval by the University of Nebraska Board of Regents. Lied Center performances and programs will continue throughout construction. The project is slated for completion in fall 2027. The Lied Center opened in 1990 and was created with support from the Lied Foundation Trust. The center serves over 200,000 people per year at performance events, conferences and conventions and through its partnership with Lincoln’s Symphony Orchestra as the orchestra in residence. The Lied Center’s current venue spaces are dedicated to season performances, rental events and special programs. The new studio theater, totaling 11,150 square feet, will provide space for K-12 and Husker student performances. With space for performances, workshops, arts education classes and rehearsals, the new studio theater will enable independent activities to take place even when a national touring performance …
APPLETON, WIS. — Terramed Real Estate Solutions has acquired BluePearl Pet Hospital Fox Valley, a veterinary facility in Appleton within Wisconsin’s Fox Valley, for $7.1 million. The 32,232-square-foot emergency, specialty and urgent care property is the only 24-hour veterinary hospital in East Central Wisconsin. The transaction included the renegotiation of a new 10-year lease. The hospital’s team of 20 veterinarians offers orthopedic and soft-tissue surgery, internal medicine, dermatology, oncology, medical imaging and other advanced services. Terramed now holds a national portfolio of nearly 2 million square feet of medical real estate.
DALLAS — Cushman & Wakefield has arranged the sale of a national portfolio of seven industrial buildings totaling 1.6 million square feet. The buildings are located across Texas, California, Utah and Tennessee. An unnamed institutional owner purchased the portfolio. The seller and sales price were also not disclosed. Properties in the recently acquired industrial portfolio include Valwood A (201,354 square feet), Valwood C (134,266 square feet) and Valwood D (127,620 square feet) in Carrollton, Texas (part of the Dallas MSA); Chino Distribution Center (409,930 square feet) in Chino, Calif.; Salt Lake Distribution Center I (190,000 square feet) and Salt Lake Distribution Center II (190,000 square feet) in Salt Lake City; and Elam Farms Distribution Center II (363,500 square feet) in Murfreesboro, Tenn. The buildings were constructed in the mid-2000s and were collectively 97 percent leased at the time of sale to a mix of national and regional tenants. The properties feature ESFR fire sprinkler systems, average clear heights of 30 feet, expansive truck courts, concrete tilt-up construction and ample parking. The national industrial advisory group at Cushman & Wakefield that arranged the sale consisted of Jim Carpenter, Adam Pastor, Robby Rieke, Emily Brandt, Jeff Chiate and Casey Masters. “This transaction vividly …
FORT WORTH, TEXAS — Hillwood will develop Alliance Westport 12, a 1.2 million-square-foot speculative industrial building that will be located on the developer’s 27,000-acre AllianceTexas campus in North Fort Worth. The cross-dock building will feature 40-foot clear heights, 70-foot loading bays, 190-foot truck court depths and 278 trailer parking spaces (expandable to 569). GSR Andrade is the project architect, and Westwood Professional Services is the civil engineer. Bank of America is financing construction of the project, which is scheduled to begin before the end of the month and to be complete in 2027.
HOUSTON — HALL Structured Finance (HSF) has provided a $37 million construction loan for Orem Circle Apartments, a 270-unit multifamily project that will be located in South Houston. Orem Circle will consist of six three-story residential buildings. Units will have an average size of 901 square feet, and amenities will include a pool, fitness center, business center and a resident clubhouse. Asher Bittman of Chicago-based Sheridan Capital Partners arranged the loan on behalf of the borrower, Houston-based developer Texas Group. Completion is slated for fall 2027.