Property Type

Selective Eton Nordhoff Buys 48,550 SF Industrial Property in Los Angeles

by Jeff Shaw March 30, 2023

LOS ANGELES — Selective Eton Nordhoff LLC has acquired a 48,550-square-foot industrial property in the Chatsworth and Canoga Park communities of Los Angeles. Though the purchase price was not disclosed, the asset was listed at nearly $10.5 million and sold for above asking price. The multi-tenant industrial property was built in 1977. It has largely remained the same since that time, save for cosmetic updates over the years. Arthur Pfefferman of Coldwell Commercial Quality Properties represented both the buyer and the seller.

March 30, 2023

Acquisitions California Industrial Loans Western

PSRS Arranges $5.9M in Financing for Industrial Property in Carlsbad, California

by Jeff Shaw March 30, 2023

CARLSBAD, CALIF. — PSRS has arranged $5.9 million in financing for the acquisition of a 32,000-square-foot industrial property in Carlsbad. The deal closed in 35 days to meet the borrower’s 1031 exchange deadline. The non-recourse loan features a five-year term with a 5.55 percent interest rate and a 30-year amortization. Ryan Frankman and Ari Zeen of PSRS arranged the financing through an insurance company.

March 30, 2023

Colorado Leasing Activity Office Western

McCarthy Building Cos. Leases New Office in Denver

by Jeff Shaw March 30, 2023

DENVER — McCarthy Building Cos. has leased a 13,000-square-foot space at One Platte in Denver. The newly developed, 250,402-square-foot office building is located at 1701 Platte St. The new space will allow McCarthy to expand and relocate within the Denver market. The company has been an active player in the market since the mid-1970s. JLL’s David Shirazi, Janessa Biller and Scott Wetzel represented McCarthy in the lease. Newmark represented the landlord, Shorenstein.

March 30, 2023

Arizona Industrial Leasing Activity Western

Tahl Machine Renews 10,500 SF Lease for Industrial Space in Tucson

by Jeff Shaw March 30, 2023

TUCSON, ARIZ. — Tahl Machine, which provides parts for mechanical and electronic equipment, has renewed its lease for 10,500 square feet of industrial space at Tucson Industrial Center. The space is located at 4151 E. Tennessee St., Suites 239 and 257 in Tucson. Cintya Denisse Angulo Garcia of Cushman & Wakefield | PICOR represented the landlord in this transaction.

March 30, 2023

Development Industrial New York Northeast Self-Storage

Manhattan Mini Storage Underway on 1,200-Unit Redevelopment Project on Upper East Side

by Taylor Williams March 30, 2023

NEW YORK CITY — Manhattan Mini Storage is underway on a self-storage redevelopment project on the Upper West Side that will add 1,200 units to the local supply. The company, which is owned by Missouri-based developer and operator StorageMart, plans to redevelop the site of the former CMX Cinema into a six-story self-storage building that offers 65,000 net rentable square feet of space. The project, which is slated for a 2024 completion, will also function as an addition to Manhattan Mini Storage’s existing facility at 420 E. 62nd St.

March 30, 2023

Leasing Activity New York Northeast Office

Law Firm Signs 157,808 SF Office Lease in Midtown Manhattan

by Taylor Williams March 30, 2023

NEW YORK CITY — Washington, D.C.-based law firm Venable LLP has signed a 157,808-square-foot office lease at 151 West 42nd Street in Midtown Manhattan. The lease term is 15 years, and the deal represents a consolidation from the firm’s previous two offices at 1270 and 1290 Avenue of the Americas. About 270 people will work in the new office, which spans the 48th through 52nd floors, as well as space on the concourse level. Newmark represented Venable in the lease negotiations. The Durst Organization owns the building.

March 30, 2023

Acquisitions New Jersey Northeast Office

Gilbane Development Sells 100,925 SF Office Building in Princeton, New Jersey

by Taylor Williams March 30, 2023

PRINCETON, N.J. — Rhode Island-based Gilbane Development Co. has sold Crossroads Corporate Center, a 100,925-square-foot office building in Princeton. The three-story building was constructed on 45 acres in 1991 and has been renovated multiple times over the ensuing years. Jeremy Neuer, Jose Cruz, Kevin O’Hearn, Thomas Romano, J.B. Bruno and Jason Lundy of JLL represented Gilbane in the transaction. A joint venture led by Simone Realty purchased Crossroads Corporate Center for an undisclosed price.

March 30, 2023

Acquisitions Healthcare New Jersey Northeast

Avison Young Arranges $14M Sale of Medical Office Building Near Philadelphia

by Taylor Williams March 30, 2023

WASHINGTON TOWNSHIP, N.J. — Avison Young has arranged the $14 million sale of a 70,140-square-foot medical office building located in the Southern New Jersey community of Washington Township. The two-story building sits directly across from the Jefferson Hospital Washington Township campus. Gordon MAB Associates sold the building to New Jersey-based Atkins Cos., which plans to implement a capital improvement program. Scott Martin, Jim Kornick, Michael Wilson and Erik Foster of Avison Young represented both parties in the transaction.

March 30, 2023

Leasing Activity New York Northeast Retail

Schott NYC to Open 2,500 SF Store in Manhattan’s SoHo District

by Taylor Williams March 30, 2023

NEW YORK CITY — Schott NYC, which sells leather jackets and motorcycle apparel, will open a 2,500-square-foot store at 32 Howard St. in Manhattan’s SoHo district. The company will relocate its flagship store from 236 Elizabeth St. and renovate the existing space at 32 Howard. The opening of the new store is scheduled for Sept 1. Greg Tannor and Jessica Gerstein of Lee & Associates represented Schott NYC in its site selection and lease negotiations. Rich Skulnik and Lindsay Zegans of Ripco Real Estate represented the landlord, a partnership between KPG Funds and Intercontinental Real Estate Corp.

March 30, 2023

California Development Multifamily Student Housing Top Stories Western

University of California Approves Plans for $1.1B Student Center, 2,400-Bed Residence Hall at UC San Diego

by Katie Sloan March 30, 2023

SAN DIEGO — The University of California Board of Regents has approved plans to develop a new student center and 2,400-bed residence hall on the University of California San Diego campus. The two projects will cost $1.1 billion, according to reports by The San Diego Union Tribune. Construction on both developments is set to begin this summer. The four-building student center, named Triton Center, is set for completion in 2026. One of the buildings will be home to the university’s student health, mental health and well-being services. This property will include an urgent care space; primary care, pharmacy and wellness services; and a new home for the university’s Counseling and Psychological Services department. Triton Center will also include an alumni and welcome center; a multi-purpose building with a 500-person event space; an art gallery; and a student academic resources building. The residence hall, Ridge Walk North Living and Learning Neighborhood, is scheduled to open in time for fall semester 2025 and will serve undergraduate students. The building will also include updated administrative and teaching space for the university’s Thurgood Marshall College, School of Global Policy and Strategy, and the Department of Economics in the School of Social Sciences. Ridge Walk will …

March 30, 2023

Newer Posts

Older Posts