Property Type

McNair Interests Breaks Ground on 221-Unit Multifamily Project in Houston

by Taylor Williams July 12, 2023

HOUSTON — Locally based developer McNair Interests has broken ground on Phase II of Remy on the Trails, a 221-unit multifamily project in Houston’s Westchase neighborhood. The site at 10505 Deerwood Road spans 6.8 acres. The complex will house one-, two- and three-bedroom units that will range in size from 900 to 1,500 square feet. Amenities will include a pool, fitness center, clubroom, dog park and outdoor grilling and dining stations. Project partners include Cadence Bank (construction lender), Arch-Con Corp. (general contractor), The Preston Partnership (lead architect), MaRS (interior design) and Kimley-Horn (landscape design). The first move-ins are expected to begin in summer 2024.

July 12, 2023

Leasing Activity Office Texas

Southeast Texas Regional Advisory Council Signs 10,196 SF Office Lease Renewal in Houston

by Taylor Williams July 12, 2023

HOUSTON — The Southeast Texas Regional Advisory Council, a nonprofit that serves the healthcare industry, has signed a 10,196-square-fooot office lease renewal at 1111 N. Loop W in Houston. Ryan Hand, Harry Holmes and Charlie Neuhaus of Partners Real Estate represented the tenant in the lease negotiations. Guy Brown of Texas Overland represented the landlord, Nitya Capital.

July 12, 2023

Industrial Leasing Activity Texas

Holt Lunsford Negotiates 8,800 SF Office Lease Renewal in Fort Worth

by Taylor Williams July 12, 2023

FORT WORTH, TEXAS — Holt Lunsford Commercial has negotiated an 8,800-square-foot office lease renewal at 2816 Shamrock Ave. in Fort Worth. According to LoopNet Inc., the building was constructed in 1972, renovated in 2008 and totals 16,000 square feet. Jake Neal and Blake Lloyd of Holt Lunsford represented the tenant, San Jose Cattle Co., in the lease negotiations. The name and representative of the landlord were not disclosed.

July 12, 2023

Leasing Activity New York Northeast Office

New York City Agency Signs 640,000 SF Office Lease in Downtown Manhattan

by Taylor Williams July 12, 2023

NEW YORK CITY — An unspecified, New York City agency has signed a 640,000-square-foot office lease at 110 William St. in downtown Manhattan. The 20-year lease essentially brings the 32-story, 928,000-square-foot building, which was originally constructed in 1960, to full occupancy. Hal Stein and Daniel Appel of Newmark, along with Todd Stracci of JLL, represented the landlord, a joint venture between Pacific Oak Capital Advisors and Savanna, in the lease negotiations. Robert Giglio of Cushman & Wakefield and Ellen Israel of JRT Realty Group represented the tenant.

July 12, 2023

Acquisitions Northeast Pennsylvania Retail

James Balliet Property Group Negotiates Sale of 225,000 SF Shopping Center in Quakertown, Pennsylvania

by Taylor Williams July 12, 2023

QUAKERTOWN, PA. — The James Balliet Property Group, a division of brokerage firm Keller Williams Real Estate, has negotiated the sale of Richland Plaza, a 225,000-square-foot shopping center located in the Lehigh Valley city of Quakertown. Velocity Venture Partners acquired the property for $16.7 million and plans to implement a redevelopment, specific details of which were not disclosed. Tenants at the center, which is situated on 20 acres, include Wells Fargo, Ollie’s Bargain Outlet and Pearle Vision Center. James Balliet represented the seller, APS Associates, in the transaction.

July 12, 2023

Development Multifamily New Jersey Northeast

Coldwell Banker Begins Leasing 81-Unit Apartment Complex in Whippany, New Jersey

by Taylor Williams July 12, 2023

WHIPPANY, N.J. — Coldwell Banker Realty New Homes has begun leasing 34 Eden, an 81-unit apartment complex located in the Northern New Jersey community of Whippany. Units come in one-, two- and three-bedroom formats and range in size from 690 to 1,500 square feet. Amenities include a pool, fitness center, resident lounge, business center and a pet wash station. The first move-ins will begin in August. Rents start at roughly $3,000 per month for a one-bedroom apartment. The owner/developer was not disclosed.

July 12, 2023

Loans Multifamily Northeast Rhode Island

Dwight Capital Provides $19.5M HUD-Insured Loan for Refinancing of Providence Apartments

by Taylor Williams July 12, 2023

PROVIDENCE, R.I. — New York City-based Dwight Capital has provided a $19.5 million HUD-insured loan for the refinancing of 580 South Water, a 69-unit apartment complex in Providence. The riverfront property offers one- and two-bedroom units and amenities such as a fitness center, lounge area/workspace and a rooftop lounge. Josh Hoffman and Jonathan Pomper of Dwight Capital originated the financing through HUD’s 223(f) program. The borrower was not disclosed.

July 12, 2023

Acquisitions Industrial New Hampshire Northeast Self-Storage

Marcus & Millichap Brokers Sale of 35-Unit Self-Storage Facility in Farmington, New Hampshire

by Taylor Williams July 12, 2023

FARMINGTON, N.H. — Marcus & Millichap has brokered the sale of Farmington Self Storage, a 35-unit facility located near the New Hampshire-Maine border. The facility was built on 3.3 acres in 1995 and totals 7,647 net rentable square feet. Luke Dawley, Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer, which was also undisclosed, plans to expand the facility by about 14,000 net rentable square feet. Occupancy was 100 percent at the time of sale.

July 12, 2023

Industrial Loans Northeast Pennsylvania Top Stories Walker & Dunlop

Walker & Dunlop Arranges $175M in Equity, Construction Financing for Last-Mile Distribution Facility in Philadelphia

by Kristin Harlow July 12, 2023

PHILADELPHIA — Walker & Dunlop Inc. has arranged $40 million in limited partner equity and $135 million in construction financing for 5000 Richmond Street, a 750,000-square-foot, last-mile distribution facility in Philadelphia. The project will include two Class A buildings each with clear heights of 40 feet, a total of 112 loading dock doors, 206 trailer parking stalls and 759 car parking stalls. The site is within a Qualified Opportunity Zone and benefits from a long-term tax abatement from the city. The development will be situated six miles from Center City and offer immediate access to I-95, I-276 and I-476, which connect to New York City and Washington, D.C. Vacancy in the metro Philadelphia industrial market ticked up slightly in the first quarter to 4.4 percent, according to CBRE. But the market remains undersupplied, leading rents to gain upward momentum, states the brokerage. Aaron Appel, Jonathan Schwartz, Adam Schwartz, Keith Kurland, Mo Beler, Michael Diaz and Michael Ianno of Walker & Dunlop represented the borrower, DH Property Holdings LLC (DHPH). Barings provided the construction financing. “This multi-year effort began with our team sourcing limited partner capital to help DHPH acquire the land in the depths of COVID, and culminated in a …

July 12, 2023

Development Florida Mixed-Use Restaurant Retail Self-Storage Southeast

PEBB, Banyan Underway on 10-Acre Mixed-Use Project in Delray Beach, Florida

by John Nelson July 11, 2023

DELRAY BEACH, FLA. — PEBB Enterprises and Banyan Development have started construction on Atlantic II, a 10-acre mixed-use project located at 8778 W. Atlantic Ave. in Delray Beach. Upon completion, which is scheduled for mid-2024, the development will feature a 10,000-square-foot, multi-tenant retail building, 100,000 square feet of self-storage space and a car wash outparcel. The outparcel is currently under contract for sale, and Paradise Grills has signed a lease to occupy 6,000 square feet in the retail building. Liberty Investment Properties, which develops self-storage properties, is partnering with the joint venture on the development.

July 11, 2023

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