Property Type

Lendlease, IHG Army Hotels Break Ground on 207-Room Candlewood Suites Hotel at Fort Liberty in North Carolina

by John Nelson November 16, 2023

FORT LIBERTY, N.C. — Lendlease and IHG Army Hotels have broken ground on a 207-room Candlewood Suites hotel at Fort Liberty, a U.S. Army base in central North Carolina. The companies plan to open the hotel in early 2026. As a partner lodging developer for the Department of Defense, Lendlease will own the hotel and IHG Army Hotels will operate the property. The hotel represents the 17th Candlewood Suites hotel that Lendlease and IHG have partnered on since 2009 as part of the Privatization of Army Lodging (PAL) initiative, an Army-led, public-private venture to revitalize on-post lodging for service members, their families and government travelers. Fort Liberty welcomes approximately 100,000 travelers annually at one of the base’s three existing hotels. The new Candlewood Suites Fort Liberty hotel will feature studio, one- and two-bedroom rooms with fully equipped kitchens in each suite. Amenities will include a business center, lounge, fitness center, laundry facilities, 24-hour market and an outdoor barbecue area, as well as complimentary breakfast. Lendlease and IHG will make enhancements at two other Fort Liberty hotels, the Carolina Inn and Normandy House, over the next year.

November 16, 2023

Acquisitions Industrial North Carolina Southeast

Cushman & Wakefield Brokers Sale of 175,239 SF Manufacturing Facility in Bessemer City, North Carolina

by John Nelson November 16, 2023

BESSEMER CITY, N.C. — Cushman & Wakefield has brokered the sale of a 175,239-square-foot manufacturing facility located at 201 Southridge Parkway in Bessemer City, a western suburb of Charlotte. KORE Investments acquired the Class A property from the previous owner and tenant, Hunter Douglas, a window manufacturer that closed the facility earlier this year, according to local media outlets. Matt Treble and Andrew DeLamielleure of Cushman & Wakefield represented the buyer in the transaction. The sales price was not disclosed. KORE Investments plans to backfill the facility with a new tenant in the coming months.

November 16, 2023

Georgia Leasing Activity Office Southeast

Banyan Street Capital Signs 109,963 SF of Office Leases at Satellite Place in Duluth, Georgia

by John Nelson November 16, 2023

DULUTH, GA. — Banyan Street Capital has signed 109,963 square feet of office leases at Satellite Place, a 117-acre office park in Duluth, a northeast suburb of Atlanta. The 21 transactions include 13 new leases or expansions totaling 89,926 square feet and six renewals totaling 20,037 square feet. Eight of the leases (for 46,527 square feet) are tied to the electric vehicle (EV) industry, including a 17,808-square-foot lease with Hyundai Glovis. Situated near I-85, Satellite Place comprises 820,000 square feet of six-story office space. Banyan Street Capital has recently partnered with Greystar for a 328-unit multifamily development underway at Satellite Place. The property, known as Elan Satellite Place, is expected to deliver in early 2025.

November 16, 2023

Hospitality Loans New York Northeast

JLL Arranges $260M Loan for Refinancing of Sheraton New York Times Square Hotel

by Taylor Williams November 16, 2023

NEW YORK CITY — JLL has arranged a $260 million loan for the refinancing of the 1,780-room Sheraton New York Times Square hotel, which is located at 811 Seventh Ave. in Midtown Manhattan. The 50-story hotel features a fitness center, business center, 61,800 square feet of meeting and event space and multiple onsite food and beverage options. Kevin Davis, Mark Fisher and Russell Freed of JLL arranged the four-year, floating-rate loan through funds managed by affiliates of Fortress Investment Group. The borrower, a partnership between hospitality owner-operator MCR Hotels and global investment firm Island Capital Group, acquired the hotel in April 2022.

November 16, 2023

Development Massachusetts Multifamily Northeast

Wood Partners Breaks Ground on 276-Unit Alta French Hill Apartments in Marlborough, Massachusetts

by Taylor Williams November 16, 2023

MARLBOROUGH, MASS. — Atlanta-based developer Wood Partners has broken ground on Alta French Hill, a 276-unit apartment complex that will be located in the western Boston suburb of Marlborough. Units will come in one, two- and three-bedroom floor plans and will be furnished with stainless steel appliances, quartz countertops, wood-style flooring and individual washers and dryers. Amenities will include a pool, fitness center, dog park, resident lounge and outdoor grilling and dining areas. Alta French Hill will also house 10,000 square feet of retail space. Preleasing will begin in 2024, with the first move-ins scheduled to begin in February 2025.

November 16, 2023

Acquisitions Multifamily New Jersey Northeast

Kislak Negotiates $11.8M Sale of Northern New Jersey Multifamily Property

by Taylor Williams November 16, 2023

BELLEVILLE, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $11.8 million sale of Brighton Estates, a 95-unit multifamily property located in the Northern New Jersey community of Belleville. Built in 1962 and recently renovated, Brighton Estates consists of three two-story buildings that house 13 studios, 66 one-bedroom units and 16 two-bedroom apartments. Tom Scatuorchio of Kislak represented the seller in the transaction. Andrew Scheinerman of Kislak procured the buyer. Both parties requested anonymity.

November 16, 2023

Industrial Leasing Activity New Jersey Northeast

IronLink Logistics Signs 71,056 SF Industrial Lease in Burlington, New Jersey

by Taylor Williams November 16, 2023

BURLINGTON, N.J. — IronLink Logistics, a third-party freight company formerly known as MD 3PL, has signed a 71,056-square-foot industrial lease in the Southern New Jersey community of Burlington. IronLink will occupy the entirety of a newly constructed building at 2609 Rancocas Road, which features a clear height of 32 feet. Nate Demetsky, Dean Torosian and Matt Kemery of JLL represented the landlord, metro Philadelphia-based developer Endurance Real Estate Group, in the lease negotiations. Casey Mungo of Daum Commercial represented the tenant.

November 16, 2023

Acquisitions Connecticut Healthcare Northeast

Colliers Brokers Sale of 37,731 SF Medical Office Complex in Torrington, Connecticut

by Taylor Williams November 16, 2023

TORRINGTON, CONN. — Colliers has brokered the sale of 245 Alvord Park, a 37,731-square-foot medical office complex in Torrington, a western suburb of Hartford. Litchfield Hills Orthopedic Associates, an affiliate of Hartford Healthcare, anchors the property. An entity doing business as IJAN 2 CT Realty LLC sold the asset to a partnership between Boston-based Sendero Capital and alternative asset manager Angelo Gordon for $8.1 million. Phil Gagnon, Ian Hunt and John Cafasso of Colliers brokered the deal.

November 16, 2023

Acquisitions Healthcare Illinois Midwest

Remedy Medical Properties, Kayne Anderson Real Estate Acquire Medical Office Building in Suburban Chicago for $71M

by Kristin Harlow November 16, 2023

OAK BROOK, ILL. — A joint venture between Remedy Medical Properties and Kayne Anderson Real Estate has acquired the RUSH Oak Brook Medical Center in the Chicago suburb of Oak Brook. RUSH University System for Health sold the property for nearly $71 million, according to Crain’s Chicago Business. The three-story, 93,386-square-foot medical office building and ambulatory surgery center is 99 percent leased by RUSH University System for Health and Midwest Orthopaedics at RUSH, a division of OrthoMidwest. Located at 2011 York Road, the property was completed in 2018. Services offered at the facility include physical therapy and rehabilitation; neurosurgery; ear, nose and throat; OB/GYN; dermatology, pain management; gastroenterology; and primary care.

November 16, 2023

Development Industrial Midwest Wisconsin

Serta Simmons Bedding Opens 500,000 SF Manufacturing Plant in Janesville, Wisconsin

by Kristin Harlow November 16, 2023

JANESVILLE, WIS. — Serta Simmons Bedding (SSB) has opened a 500,000-square-foot manufacturing plant in Janesville, a city in southern Wisconsin. The facility will produce mattresses and other bedding products under the Serta, Beautyrest and Simmons brands. The plant will be responsible for more than 300 jobs in the local economy, and SSB expects to create additional jobs at the plant over the next few years. Located at 200 Innovation Drive and developed by Zilber Property Group, the new facility consolidates two Rock County plants that were located in Beloit and Janesville. The plant is one of 18 manufacturing plants across the U.S. and Canada operated by SSB. An additional five Serta plants in the U.S. are operated by licensing partners.

November 16, 2023

Newer Posts

Older Posts