Property Type

SRS Arranges $13.6M Sale of Retail Property in Lutz, Florida Leased to EoS Fitness

by John Nelson December 4, 2023

LUTZ, FLA. — SRS Real Estate Partners has arranged the $13.6 million sale of a 42,311-square-foot single-tenant retail property in Lutz, about 14 miles north of Tampa. EoS Fitness occupies the building on a 15-year triple-net lease. Located at 17634 Harpers Run, the property is situated on 3.9 acres within Cypress Ranch, a 164-acre mixed-use development that features 598 residential units and 100,000 square feet of office space. Upon completion, Cypress Ranch will also include 11 freestanding retail parcels. Tenants at the parcels include Chick-fil-A, Aldi and Panda Express. Patrick Nutt and William Wamble of SRS represented the seller, Barclay Group, in the transaction. A California-based buyer acquired the property in a 1031 exchange.

December 4, 2023

Development Industrial Texas

DrinkPAK Signs Two Industrial Lease Expansions Totaling 2.9 MSF in Fort Worth

by Taylor Williams December 4, 2023

FORT WORTH, TEXAS — California-based canned beverage manufacturer DrinkPAK has signed two industrial leases in Fort Worth representing 2.9 million square feet of expansion, moves that are expected to bring about 1,000 new full-time to the area by 2026. The space at Trammell Crow’s development at 25001 Eagle Parkway spans 1.5 million square feet. The deal at Carter Park East, which is owned by Crow Holdings Capital, Rob Riner Cos. and Clarion Partners, is for 1.4 million square feet. Patrick DuRoss, John DeGrinis, Jeff Abraham, Javier Galvan, Adam Faulk, James Cooksey, Garrison Efird and Adam Faulk Jr. of Newmark represented DrinkPAK in the lease negotiations. The City of Fort Worth has approved a 10-year tax abatement valued at $21 million for DrinkPAK’s expansion in support of the area’s long-term development.

December 4, 2023

Development Multifamily Texas

Wood Partners Opens 330-Unit Alta Cypress Springs Apartments in Metro Houston

by Taylor Williams December 4, 2023

CYPRESS, TEXAS — Atlanta-based multifamily developer Wood Partners has opened Alta Cypress Springs, a 330-unit project located on the northwestern outskirts of Houston. Alta Cypress Springs features one-, two- and three-bedroom apartments that are furnished with stainless steel appliances, granite countertops, tile backsplashes and full-size washers and dryers. Amenities include a pool, fitness center, dog park, business center, clubroom and an outdoor kitchen. Texas-based Design Balance served as the project architect. Rents start at roughly $1,300 per month for a one-bedroom apartment, according to the property website.

December 4, 2023

Acquisitions Multifamily Texas

RailField, Artemis Acquire 201-Unit Multifamily Property in Houston

by Taylor Williams December 4, 2023

HOUSTON — A partnership between Maryland-based investment firm RailField and Washington, D.C.-based Artemis Real Estate Partners has acquired Dolce Midtown, a 201-unit multifamily property located at 180 W. Gray St. in Houston. The property comprises two five-story buildings that were constructed in 2020. Dolce Midtown offers one- and two-bedroom units that are furnished with stainless steel appliances, built-in desks, individual washers and dryers and private balconies/patios. Amenities include a pool, fitness center, clubhouse, game room, business center and outdoor grilling and dining stations. The seller and sales price were not disclosed.

December 4, 2023

Acquisitions Multifamily Texas

35 South Capital Buys 84-Unit Village Place Apartments in Houston

by Taylor Williams December 4, 2023

HOUSTON — Locally based investment firm 35 South Capital has purchased Village Place Apartments, an 84-unit multifamily complex in Houston’s Hedwig Village neighborhood. The complex consists of 13 buildings on a 3.5-acre site. According to Apartments.com, units come in one- and two-bedroom floor plans, and amenities include a pool, fitness center, business center, clubhouse, outdoor grilling and dining stations and onsite laundry facilities. Newmark brokered the sale of the property. The seller and sales price were not disclosed.

December 4, 2023

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 21,136 SF Industrial Lease in Northwest Dallas

by Taylor Williams December 4, 2023

DALLAS — Lee & Associates has negotiated a 21,136-square-foot industrial lease in northwest Dallas. According to LoopNet Inc., the building at 2616 Willowbrook Road was built in 1994 and totals 49,636 square feet. Stephen Williamson of Lee & Associates represented the tenant, Greenpath Mail Operations, in the lease negotiations. Nathan Denton, also with Lee & Associates, along with Brett Owens and Jack Brewer of Transwestern, represented the landlord, an entity doing business as Warehouse Development Ltd.

December 4, 2023

Mayfair-Shopping-Center-Commack-New-York

Loans New York Northeast Retail

Voya Investment Management Provides $37.5M in Financing for Long Island Shopping Center

by Taylor Williams December 4, 2023

COMMACK, N.Y. — Connecticut-based life insurance company Voya Investment Management has provided $37.5 million in bridge financing for Mayfair Shopping Center, a 221,000-square-foot retail property located in the Long Island community of Commack. The open-air center sits on a 15-acre site along the Jericho Turnpike and is home to tenants such as Lidl, Planet Fitness and the PGA Superstore. Andrew Stewart and Allison Villamagna of New Jersey-based financial intermediary Cronheim Mortgage arranged the three-year loan on behalf of the borrower, The Livingston Group. A portion of the proceeds will be used to fund capital improvements and additional leasing costs.

December 4, 2023

Acquisitions Connecticut Mixed-Use Northeast

O,R&L Commercial Arranges $7M Sale of Mixed-Use Property in New Haven, Connecticut

by Taylor Williams December 4, 2023

NEW HAVEN, CONN. — Locally based brokerage firm O,R&L Commercial has arranged the $7 million sale of York Square Broadway, a 30,262-square-foot mixed-use property in New Haven. The property consists of two buildings that were originally constructed in the early 1900s and house four one-bedroom apartments, 7,300 square feet of recently vacated office space and retail space. Tenants at the property include Campus Customs, which provides Yale-themed apparel and gifts, Mediterranean restaurant Broadway Kitchen, Blue Jay Cleaners and cosmetics chain Blue Mercury. Frank Hird of O,R,&L represented the seller and procured Yale University as the buyer.

December 4, 2023

Civic Leasing Activity New York Northeast

Hawthorne Country Day School to Relocate Manhattan Campus

by Taylor Williams December 4, 2023

NEW YORK CITY — The Hawthorne Country Day School Manhattan, which provides a range of educational and social services for individuals age 18 months to 21 years, will relocate its campus from 156 William Street to 233 Broadway. The new space spans 34,076 square feet within The Woolworth Building, a 28-story landmarked structure that was originally built in the 1920s. The space features classrooms, therapy rooms, a multipurpose room/gym and an expanded sensory gym. Howard Kesseler, Todd Hershman and Alex Kesseler of Newmark represented the tenant in the lease negotiations.

December 4, 2023

Acquisitions Industrial New Jersey Northeast

TFE Properties Acquires 30,230 SF Industrial Building in Ocean Township, New Jersey

by Taylor Williams December 4, 2023

OCEAN TOWNSHIP, N.J. — New Jersey-based investment firm TFE Properties has acquired a 30,230-square-foot industrial building in Ocean Township, located along the Jersey Shore. The building at 42 Cindy Lane was constructed on five acres in 1989. According to LoopNet Inc., the property features a clear height of 18 feet and four drive-in doors. The property was fully leased at the time of sale to tenants such as Cooper Electric and KMSCO Inc. The seller and sales price were not disclosed.

December 4, 2023

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