CAPITOL HEIGHTS, MD. — Newmark has arranged the $20.4 million sale of a distribution facility located at 8700 Ritchie Drive in Capitol Heights. The property, which comprises 103,193 square feet, was fully leased to HD Supply, REW Materials and The General Services Administration (GSA) at the time of sale. Cris Abramson, Ben McCarty and Nicholas Signor of Newmark represented the seller, a joint venture between The Pinkard Group and Principal Asset Management, in the transaction. LBA Realty acquired the property.
GRAPEVINE, TEXAS — Design-build firm ARCO/Murray will construct a 972,380-square-foot speculative industrial facility in Grapevine, located in the northern-central part of the metroplex. The developer was not disclosed. Phase I will consist of a 200,340-square-foot, rear-load warehouse that will feature 37 dock positions, two drive-in ramps, 119 car parking spaces and 49 trailer parking stalls on a 16-acre site. The building is designed to accommodate up to four tenants. Phase II will include three buildings totaling 772,040 square feet (504,000, 183,040 and 85,000 square feet) with a total of 216 dock positions, eight drive-in ramps and 700-plus car parking spaces on the remaining 72 acres. All necessary approvals have been secured, and construction is set to begin in September.
ROCKWALL, TEXAS — CTO Realty Growth has acquired Plaza at Rockwall, a 446,500-square-foot retail power center located on the eastern outskirts of Dallas, for $61.2 million. The center sits on 42 acres and was 95 percent leased at the time of sale to tenants such as Best Buy, Ulta Beauty, Dick’s Sporting Goods, J.C. Penney, Belk, Five Below and HomeGoods. The seller was not disclosed.
MIDLAND, TEXAS — JLL has negotiated the sale of Atlas Self Storage, a 116-unit facility located in the West Texas city of Midland. The facility spans 18,120 net rentable square feet and was 95 percent occupied at the time of sale. Adam Roossien, Matthew Wheeler, Steve Mellon and Brian Somoza of JLL represented the locally based seller and procured the buyer, KO Storage, in the transaction.
HOUSTON — Video production agency Captiv Creative has signed a 14,774-square-foot industrial lease within Brookhollow West Business Park in northwest Houston. According to LoopNet Inc., the property at 9777 W. Gulf Bank Road was built in 1977, totals 251,569 square feet and features 18-foot clear heights. Jason Gibbons of Finial Group represented the tenant in the lease negotiations. Craig Bean of Transwestern represented the landlord.
CONROE, TEXAS — Locally based brokerage firm SVN | J. Beard Real Estate – Greater Houston has arranged the sale of an 8,320-square-foot office building in Conroe, about 40 miles north of Houston. The property was built in 1973. Linda Crumley of SVN | J. Beard represented the seller in the transaction. Brittany Jameson, also with SVN | J. Beard, represented the buyer, Milstead Properties LLC.
HUNTINGDON VALLEY, PA. — Pennsylvania-based finance and advisory firm Prestige Group has arranged $42 million for the refinancing of The Marketplace at Huntingdon Valley, a 259,000-square-foot shopping center located on the northwestern outskirts of Philadelphia. Grocer Weis Markets and LA Fitness anchor the center, which was built on 49 acres in 1993. Other tenants include Starbucks, Fine Wine & Good Spirits, Bertucci’s, Rite Aid, Dunkin,’ GNC and Hair Cuttery. Bob Cohen of Prestige Group arranged the financing, which consisted of a $25 million senior loan and a $17 million junior loan, through two undisclosed regional banks. The borrower was also not disclosed.
NEW YORK CITY — BHI, a full-service commercial bank that is the U.S. division of Israel’s Bank Hapoalim, has provided a $29.2 million construction loan for an 81-unit multifamily project that will be located at 138-45 Jamaica Ave. in Queens. About a third of the units will be reserved as affordable housing, although specific income restrictions were not disclosed, and the seven-story development will also include retail space. The borrower was an entity doing business as ZDJ Jamaica LLC. Completion is slated for the first quarter of next year.
NEW YORK CITY — Quadrum Global, the parent company of boutique hospitality brand Arlo Hotels, has acquired a 147-room property in Brooklyn’s Williamsburg area that was formerly operated as The Williamsburg Hotel. Upon rebranding, the hotel will be the fourth in New York City to operate under the Arlo brand. The eight-story hotel includes eight suites, a 10,000-square-foot rooftop pool and lounge and additional onsite food-and-beverage options. The opening of the rebranded hotel is slated for September.
WOOLWICH TOWNSHIP, N.J. — Colliers has brokered the sale of a 106,528-square-foot industrial property in Woolwich Township, located in the southern part of the Garden State. Regional investment firm Faropoint sold the asset to an affiliate of DH Property Holdings for an undisclosed price. Marc Isdaner and Ian Richman of Colliers brokered the deal. At the time of sale, the property was fully leased to Diversified Industries, a provider of foam and adhesive products.