Property Type

S.L. Nusbaum Brokers $34.9M Sale of Industrial Facility in Norfolk, Virginia

by John Nelson July 11, 2024

NORFOLK, VA. — S.L. Nusbaum Realty Co. has brokered the $34.9 million sale of an industrial facility located at 3321 Princess Anne Road in Norfolk. Industrial Realty Group acquired the 298,126-square-foot warehouse from an entity doing business as 3321 Princess Anne LLC. Stephanie Sanker of S.L. Nusbaum represented the seller in the transaction. LION Power and Beckett Corp. currently occupy a combined 104,334 square feet at the facility, with the remaining space available for lease. Constructed in 2022, the building comprises two sections. Section A features 113,450 square feet with 36-foot clear heights, multiple dock doors with expansion potential, new racking, office space and restrooms. Section B totals 80,321 square feet with dock-level loading, 21- to 24-foot clear heights and 38- by 36-foot column spacing.

July 11, 2024

Loans Multifamily New York Northeast Walker & Dunlop

Affinius Capital Provides $112.7M Loan for Refinancing of Yonkers Apartment Building

by Taylor Williams July 11, 2024

YONKERS, N.Y. — Affinius Capital has provided a $112.7 million loan for the refinancing of Alexander Crossing, a 440-unit apartment building located north of New York City in Yonkers. The newly built waterfront property offers 119 studios, 218 one-bedroom units, 90 two-bedroom residences and 13 three-bedroom apartments. Units are furnished with stainless steel appliances, quartz countertops and individual washers and dryers. Amenities include an outdoor heated pool, terraces with grills and outdoor games, a fitness center, resident lounge, coworking space, multi-sport simulator and a game room. Jonathan Schwartz, Aaron Appel, Sean Reimer, Keith Kurland, Adam Schwartz and Sean Bastian of Walker & Dunlop arranged the financing on behalf of the borrower, a joint venture between Rose Associates and Battery Global Advisors.

July 11, 2024

Loans Massachusetts Multifamily Northeast

Colliers Arranges $62M Loan for Refinancing of East Boston Apartments

by Taylor Williams July 11, 2024

BOSTON — Colliers has arranged a $62 million loan for the refinancing of Addison, a 230-unit apartment community in East Boston that was completed in late 2021. The property offers one- and two-bedroom units and amenities such as a pool, fitness center, basketball court, outdoor grilling and dining stations, coworking lounge, industrial kitchen and a maker space equipped with 3D printers, a laser cutter for digital sewing/embroidery machines and art supplies. Jeffrey Black, Bryan Koop, Sean Burke, Kevin Phelan and Matthew Lombardi of Colliers arranged the loan through CrossHarbor Capital Partners. The borrower was a joint venture between Redgate Capital Partners, North River Co. and ELV Associates.

July 11, 2024

Development Industrial Massachusetts Northeast

Ferguson Enterprises Opens 234,282 SF Warehouse in Taunton, Massachusetts

by Taylor Williams July 11, 2024

TAUNTON, MASS. — Ferguson Enterprises, a distributor of plumbing and HVAC supplies, has opened a 234,282-square-foot warehouse in Taunton, a southern suburb of Boston. The facility houses a 5,743-square-foot retail store, 30,000 square feet of offices and training space for employees and a designated pick-up and will-call area. Building features include a clear height of 40 feet, three exterior loading ramps and a floor-to-ceiling racking system. Ware Malcomb designed the project, and Connolly Brothers provided construction management services.

July 11, 2024

Acquisitions Multifamily New Jersey Northeast

JLL Negotiates Sale of 226-Unit Multifamily Property in Hackensack, New Jersey

by Taylor Williams July 11, 2024

HACKENSACK, N.J. — JLL has negotiated the sale of Avalon Hackensack at Riverside, a 226-unit multifamily property in Hackensack. Avalon Hackensack at Riverside was built in 2013 and offers studio, one-, two- and three-bedroom apartments. Select units feature balconies, patios, dens and loft-style layouts. Amenities include a pool with a grilling area, resident clubhouse, fitness center, tenant lounge and a dog run. Jose Cruz, Michael Oliver, Steve Simonelli, Elizabeth DeVesty and Austin Pierce of JLL represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.

July 11, 2024

Leasing Activity New Jersey Northeast Restaurant Retail

Four New F&B Operators Sign Leases in Jersey City’s Bergen-Lafayette Neighborhood

by Taylor Williams July 11, 2024

JERSEY CITY, N.J. — Four new food-and-beverage (F&B) operators have signed leases at apartment buildings in Jersey City’s Bergen-Lafayette neighborhood. Breakfast café Eggs Up will open a restaurant in the 24-story Atlas high-rise building. MochiDough and BoberTea, both of which are Japanese concepts, have committed to Starling, a rental building with 39 units. Cheeky’s, a concept known for New Orleans-style sandwiches, will open at The Hazel, a 201-unit building. All openings are slated to occur before the end of the year. A partnership between between locally based developer Fields Grade and New York City-based Alpine Residential owns the buildings.

July 11, 2024

Acquisitions Multifamily Washington Western

Kidder Mathews Arranges $18.8M Sale of Dexter Hayes Apartment Building in Seattle

by Amy Works July 11, 2024

SEATTLE — Kidder Mathews has arranged the sale of Dexter Hayes, a multifamily property at 1701 Dexter Ave. N. in Seattle’s Westlake neighborhood. The asset traded for $18.8 million, or $290,000 per unit. Opened in 2016, Dexter Hayes offers 65 apartments with high-end finishes, spacious floor plans and large windows. Community amenities include a clubhouse, rooftop deck and an open-air central courtyard. Dylan Simon, Jerrid Anderson, Matt Laird and JD Fuller of the Simon and Anderson team at Kidder Mathews’ Seattle headquarters represented the undisclosed seller and buyer in the deal.

July 11, 2024

Development Industrial Nevada Western

Mohr Capital, Standard Real Estate to Develop 180,000 SF Industrial Facility in Reno, Nevada

by Amy Works July 11, 2024

RENO, NEV. — Mohr Capital has partnered with Standard Real Estate Investments, as equity joint venture partner, to develop a single-story, multi-tenant industrial facility in Reno. Situated on 11 acres at 9865 N. Virginia St., the 180,000-square-foot property will offer large grade-level, drive-in doors; 32-foot clear heights; options to build office spaces on the end caps and in-line; 25 dock positions outfitted with 40,000-pound levelers and seals; motion-sensing LED light fixtures; ESFR fire protection sprinkler system; and roof-mounted, gas-fired make-up air units. Completion is slated for summer 2025. The project team includes FCL Construction as general contractor, Techtonics Design Group as civil engineer and architect and Stearns Bank as construction loan lender.

July 11, 2024

Acquisitions California Industrial Western

NAI Capital Commercial Negotiates $5M Sale of Manufacturing Facility in Placentia, California

by Amy Works July 11, 2024

PLACENTIA, CALIF. — NAI Capital Commercial has arranged the sale of 1049 S. Melrose St., Unit C, a multi-tenant manufacturing building in the Orange County city of Placentia. A trust sold the asset to an undisclosed buyer for $5 million, or $248 per square foot. Situated within a 11-building, master-planned industrial park totaling 158,580 square feet, the 20,150-square-foot building is fully leased with one month-to-month tenant occupying 4,850 square feet; two leases expiring on Dec. 31 covering 11,300 square feet; and one lease expiring July 31, 2024, covering 4,000 square feet. Marie Taylor of NAI Capital Commercial represented the seller in the deal.

July 11, 2024

Development Midwest Missouri Retail

Keystone Construction to Build $60M CarShield Sportsplex in Chesterfield, Missouri

by Kristin Harlow July 11, 2024

CHESTERFIELD, MO. — Keystone Construction Co. will build the new $60 million CarShield Sportsplex AAA Hockey & Futbol facility in the St. Louis suburb of Chesterfield. The development will accommodate the growing CarShield AAA Hockey & Futbol clubs, which serve more than 500 children and 45 teams in metro St. Louis. The 325,000-square-foot facility will offer four indoor turf soccer fields, two indoor ice rinks, team locker rooms, a pro shop, training and fitness spaces, a restaurant, bar, concessions and classrooms. Outside, there will be three turf soccer fields, concessions, a dining patio and children’s playground. Construction is scheduled to begin in October and wrap up in January 2026. The project team includes civil engineer Stock & Associates and architect Gray Design Group.

July 11, 2024

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