CARLSTADT, N.J. — Locally based financial intermediary G.S. Wilcox & Co. has arranged a $49 million loan for the refinancing of a portfolio of four industrial buildings totaling 570,000 square feet in the Northern New Jersey community of Carlstadt. The buildings were constructed in the 1980s and feature clear heights of 22 feet, several loading docks and proximity to the New Jersey Turnpike. Gretchen Wilcox and David Fryer of G.S. Wilcox arranged the five-year, interest-only loan through an unnamed lender. The borrower was also not disclosed.
HOUSTON — Constellation Real Estate Partners has acquired 25.8 acres at 6401 N. Eldridge Parkway in northwest Houston for the development of a 537,375-square-foot industrial project. Designed by Seeberger Architecture, Constellation Eldridge will feature 40-foot clear heights, 127 trailer parking spaces and an ESFR sprinkler system. The developer has tapped CBRE as the leasing agent. Construction will begin in the first quarter with the demolition of an existing administrative building on the site, and delivery is slated for the fourth quarter.
SAN DIEGO — Liberty National Corp. has purchased a land site at 1520 and 1532 3rd Ave. in downtown San Diego for the development of a residential property. Terms of the transaction were not released. Liberty acquired the 22,484-square-foot site in December 2023 and plans to build a high-rise multifamily community on the site. The property will also offer a selection of affordable housing options.
WHEAT RIDGE, COLO. — SRS Real Estate Partners has negotiated the sale of a newly developed retail property at 4400 Harlan Court in Wheat Ridge. Cadence Capital sold the asset to a California-based family office for $8.8 million. 7-Eleven occupies the 4,650-square-foot property, which is situated on 1.3 acres. The asset also includes Laredo Taco, 7-Eleven’s new quick-service restaurant concept. The building is an outparcel to Lakeside Center, a 728,000-square-foot retail power center anchored by Walmart Supercenter, Petco, Planet Fitness and Goodwill. Ryan Tomkins of SRS Capital Markets represented the seller in the transaction.
ROCKPORT, TEXAS — Self-storage brokerage firm Versal has arranged the sale of Stowaway Storage, a 309-unit facility in Rockport, located about 35 miles northeast of Corpus Christi in South Texas. The facility spans 34,626 net rentable square feet. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller, Texas-based investment firm Curren Cos. Inc., in the transaction. The team also procured the undisclosed, Texas-based private buyer.
FLORENCE TOWNSHIP, N.J. — Colliers has negotiated a 431,720-square-foot industrial lease extension in the Southern New Jersey community of Florence Township. The cross-dock, single-tenant building at 1500 John Galt Way is located within The Haines Center Industrial Park and features clear heights of 30 to 37 feet. Marc Isdaner and Alex Stringfellow of Colliers represented the tenant, paper products provider Sylvamo North America, in the lease negotiations. Regional developer Whitesell Construction Co. owns the property.
FORT WORTH, TEXAS — Colliers Mortgage has provided a Fannie Mae loan of an undisclosed amount for the acquisition of Northwood Apartment Homes, a 100-unit multifamily complex in Fort Worth. Built in 1972, the garden-style property consists of six two-story buildings and one clubhouse, as well as onsite laundry facilities and outdoor grilling and dining stations. Fritz Waldvogel of Colliers Mortgage originated the five-year loan through a partnership with Old Capital Lending. The borrower was not disclosed.
HATFIELD, MASS. — The Yankee Candle Co. has opened a 360,000-square-foot warehouse and distribution center in the Central Massachusetts city of Hatfield. The company will occupy the entirety of the building at 142 Elm St., which was constructed in 1968 and totals 359,938 square feet, according to LoopNet Inc. Joe Garvey of Cushman & Wakefield and Mitch Bolotin of Colebrook Realty Services represented the tenant in the lease negotiations. Tyler McGrail, J.R. McDonald, Eric Jeremiah and Margaret Fee of Newmark represented the landlord, Boston-based FoxRock Properties.
SOUTHFIELD, MICH. — Bernard Financial Group (BFG) has arranged an $8.5 million loan for the refinancing of a 334-unit multifamily property in Southfield. Dennis Bernard and David Ruff of BFG arranged the loan with Securian Life Insurance Co. Pine Aire Investors LLC was the borrower.
HOUSTON — Used Bikes Direct, which sells pre-owned motorcycles, has signed a 22,630-square-foot industrial lease in Houston. The building at 16445 North Freeway was constructed on 1.4 acres in 1982 and formerly served as a furniture store and warehouse. Judy Beebe and Chris Klein of Colliers represented the tenant in the lease negotiations. Zane Carmen and Clay Pritchett of Partners Real Estate represented the landlord, an entity doing business as Bet Ezra LLC.