DALLAS — Locally based investment firm CanTex Capital has sold a portfolio of eight industrial outdoor storage facilities totaling roughly 44 acres that are located across the Dallas-Fort Worth metroplex. The portfolio was fully leased at the time of sale. Eastdil Secured represented CanTex Capital in the transaction. The buyer was San Francisco-based Stockbridge Capital Group.
DALLAS — Image First of Dallas has signed a 44,045-square-foot lease renewal at 3040 Quebec St. in West Dallas. Quebec Business Center features 18-foot clear heights, three dock-high doors and 800 square feet of office space. Brian Pafford of Bradford Commercial Real Estate Services represented the landlord, GKI Industrial Dallas LLC, in the lease negotiations. Ruth Baker of Mohr Partners represented the tenant.
RICHMOND, TEXAS — JLL has arranged the sale of a 23,256-square-foot grocery store building in Richmond, located southwest of Houston, that is occupied by Sprouts Farmers Market. The newly constructed building is located within Waterview Town Center, a 143-acre mixed-use development. JLL represented the seller, metro Nashville-based GBT Realty, in the deal. JRW Realty represented the buyer, Southern California-based ExchangeRight.
NEW YORK CITY — A partnership between Infinite Global Real Estate Partners and Buttonwood Development has purchased an office building in Midtown Manhattan with plans to implement a residential conversion. The partnership plans to transform the building at 29 W. 35th St., which was previously foreclosed upon, into a 107-unit apartment complex in which 75 percent (80) of the units will be rented at market rates. The remaining 27 units will be reserved as affordable housing. Residences will exclusively come in studio formats and will range in size from 400 to 575 square feet. Ismael Leyva Architects is designing the conversion, and Archstone is serving as the general contractor. Allegiant is the lender, and additional equity partners include 400 Capital Management LLC, L&L Holding (also the project manager) and Terracotta Management.
LAWRENCEVILLE, N.J. — Marcus & Millichap has negotiated the $11.3 million sale of Village Square Plaza, a 53,077-square-foot retail property located in the Central New Jersey community of Lawrenceville. First Bank anchors the property, which was built on a 7.7-acre site in 1990 and was 97 percent leased at the time of sale. Additional tenants include Kumon, Eastern Dental and Princeton Brain & Spine. Alan Cafiero and Brent Hyldahl of Marcus & Millichap represented the undisclosed seller in the transaction.
SOUTH WINDSOR, CONN. — JLL has arranged a $9.5 million loan for the refinancing of a 115,800-square-foot industrial building in South Windsor, located northeast of Hartford. The building at 555 Nutmeg Road was constructed on 12.1 acres in 1980 and was fully leased at the time of sale to wholesale tire distributor US Autoforce. Max Custer, Ryan Carroll and Michael Donohoe of JLL arranged the five-year, fixed-rate loan through an undisclosed life insurance company on behalf of the borrower, Snowball Developments.
MORGANVILLE, N.J. — CBRE has brokered the $6.9 million sale of an industrial outdoor storage (IOS) facility in the Central New Jersey community of Morganville. The 21,000-square-foot facility at 173 Amboy Road was originally constructed in 1988, and the property includes 4.8 acres of outdoor storage space. Liam McGregor, Mark Silverman, Brian Fiumara and Elli Klapper of CBRE represented the buyer, private industrial investment firm Genesis, in the off-market transaction. The seller was not disclosed.
GREENWICH, CONN. — Industrious has signed a 17,773-square-foot office lease in the southern coastal Connecticut city of Greenwich. The provider of flexible workspaces will occupy the first floor of Building 5 at Greenwich Office Park, an eight-building, 385,000-square-foot campus. David Block of CBRE represented the landlord, Fareri Associates, in the lease negotiations. Cushman & Wakefield represented Industrious.
MIAMI — L&L Holding Co. and Oak Row Equities, along with project partners Shorenstein Investment Advisors and Claure Group, have opened Wynwood Plaza, a 1 million-square-foot mixed-use campus located at 95 N.W. 29th St. in Miami. The project is anchored by a luxury apartment community, shops and restaurants surrounding a half-acre public plaza and a 12-story office tower that is leased to tenants including Amazon (50,333 square feet). The development team has secured leases for more than half of the 266,000-square-foot office building, with other committed tenants including OKO Group, Weitz & Luxenberg law firm and Claure Group. The Class A office building features private outdoor terraces, floor-to-ceiling windows, a fitness club, golf simulator and conference rooms. Wynwood Plaza Residences comprises 509 apartments ranging in floorplans from studios to two-bedroom units. Monthly rental rates range from $2,495 to $4,660, according to Apartments.com. Amenities include basketball and pickleball courts, a lap pool, swimming pool, hot tub, cold plunge, coworking lounge with private offices and a large conference room, café, game area and a fitness center with a sauna, massage room and outdoor space. Additionally, Luca Steak is expected to open its new restaurant at Wynwood Plaza next year. The design-build team includes …
RICHMOND, VA. — JLL has negotiated the sale of a six-building industrial portfolio spanning more than 1 million square feet near Richmond International Airport. The portfolio comprises Class A and B buildings that were constructed between 1971 and 1999 across three sites. The assets are situated on the eastern side of Richmond’s metropolitan area near the intersection of I-295 and I-64. Bill Prutting, Pete Pittroff, Craig Childs, Chris Dale, Dave Andrews and Ginna Wallace of JLL represented the undisclosed seller in the transaction. The sales price was also not disclosed. The buyer, Silverman Group, has tapped SL Industrial Partners to manage the portfolio.