Property Type

Treeline to Build 300,000 SF Industrial Park in Gaffney, South Carolina

by John Nelson October 28, 2022

GAFFNEY, S.C. — New York-based Treeline has acquired a 36-acre site in Gaffney, a city in South Carolina roughly equidistant between Greenville, S.C., and Charlotte. Treeline was self-represented in the transaction, in which they acquired the property from Hart Consumer Products Inc. The land will be used for the development of a 300,000-square-foot, $30 million industrial facility dubbed Victory Crossing. The project will mark Treeline’s third industrial facility in the Southeast. Choate Construction Co. will serve as general contractor for the development, with Warren Snowdon of Foundry Commercial acting as the exclusive leasing agent for the property, which will house manufacturing and warehouse/distribution tenants.

October 28, 2022

Acquisitions Affordable Housing Maryland Multifamily Southeast

OneWall Purchases Affordable Housing Community in Metro D.C. for $23M

by John Nelson October 28, 2022

SUITLAND, MD. — OneWall Communities has acquired Gateway Station — formerly Allentown Apartments — a 178-unit affordable multifamily property located in the Washington, D.C., suburb of Suitland. CBRE Affordable Housing arranged the transaction, in which RailField Realty Partners sold the property for $23 million. Built in 1963 and renovated in 2007, Gateway Station features eight buildings comprising apartments in a mix of studio, one-, two- and three-bedroom layouts. Community amenities include a swimming pool, onsite laundry facilities and a playground. The property currently operates under the Low Income Housing Tax Credit (LIHTC) program, which reserves units at various income restrictions. Connecticut-based OneWall plans to preserve Gateway Station’s affordability during its ownership.

October 28, 2022

Development Florida Industrial Southeast

Merritt Properties Buys Land in Jacksonville for 158,400 SF Industrial Development

by John Nelson October 28, 2022

JACKSONVILLE, FLA. — Merritt Properties has acquired 16 acres off of First Coast Expressway in Jacksonville for the development of a business park comprising 158,400 square feet. The development will feature four single-story, flex/light industrial buildings ranging from 21,600 to 57,600 square feet. Construction is slated to begin before the end of this year, with the first phase including three buildings along Armstrong Lane.

October 28, 2022

Acquisitions Georgia Retail Southeast

Northmarq Arranges Sale of 20,053 SF Retail Center in McDonough, Georgia

by John Nelson October 28, 2022

MCDONOUGH, GA. — Northmarq has arranged the sale of Towne Crest Village, a 20,053-square-foot retail center located in McDonough, approximately 30 miles south of Atlanta. Jeff Enck of Northmarq represented the private Florida-based buyer in the transaction. An individual Los Angeles-based investor sold the property for $5.7 million. Built in 2005, Towne Crest was 100 percent leased at the time of sale to a mix of local businesses including service retailers and restaurants.

October 28, 2022

Kendig-Square-Willow-Street-Pennsylvania

Acquisitions Northeast Pennsylvania Retail

JLL Negotiates Sale of 186,749 SF Kendig Square Shopping Center in Willow Street, Pennsylvania

by Taylor Williams October 28, 2022

WILLOW STREET, PA. — JLL has negotiated the sale of Kendig Square, a 186,749-square-foot shopping center in Willow Street, about 70 miles west of Philadelphia. Built in 1991, the property was 95 percent leased at the time of sale, with grocer Weis Markets serving as the anchor. Other tenants include Rite Aid, Planet Fitness, Dollar Tree and PNC. Northpath Investments sold Kendig Square to Triple Bar Properties Inc. for an undisclosed price. Christopher Munley, Jim Galbally, Colin Behr and James Graf of JLL brokered the deal.

October 28, 2022

Development Healthcare New Jersey Northeast

Atkins Completes Renovation of 120,000 SF Medical Office Building in West Orange, New Jersey

by Taylor Williams October 28, 2022

WEST ORANGE, N.J. — Atkins Cos. has completed the renovation of a 120,000-square-foot medical office building located in the Northern New Jersey community of West Orange. Capital improvements included the modernization of the building’s common areas and restrooms on the second, fourth and fifth floors, as well as the addition of new lighting, flooring, fixtures and decorative elements. Atkins originally developed the building, which is situated adjacent to RWJBarnabas Health’s corporate offices, in 1983.

October 28, 2022

Acquisitions New York Northeast Office Retail

Cushman & Wakefield Brokers $11M Sale of Historic Acme Hall Building in Brooklyn

by Taylor Williams October 28, 2022

NEW YORK CITY — Cushman & Wakefield has brokered the $11 million sale of Acme Hall, a historic building located at 435 Ninth Street in the Park Slope neighborhood of Brooklyn. The four-story, 20,303-square-foot building was originally constructed in 1890 and houses office and retail space. Dan O’Brien, Jonathan Squires, Caroline Hodes and Josh Neustadter of Cushman & Wakefield represented the undisclosed seller in the transaction. The buyer was also not disclosed.

October 28, 2022

Affordable Housing Development Loans Massachusetts Multifamily Northeast

MassHousing Provides $8.5M Construction Loan for Cambridge Affordable Housing Project

by Taylor Williams October 28, 2022

CAMBRIDGE, MASS. — MassHousing has provided an $8.5 million construction loan for Rindge Commons, a 24-unit affordable housing project in Cambridge. Designed by ICON Architecture and built by Dellbrook JKS, the six-story building will house 10 one-bedroom units and 14 two-bedroom units that will be reserved for renters earning up to 30 and 60 percent of the area median income. In addition, Rindge Commons will feature a 40,000-square-foot space with education facilities and administrative offices, as well as preschool classroom spaces with priority enrollment for children of residents. The borrower and developer is nonprofit Just A Start.

October 28, 2022

Leasing Activity New York Northeast Retail

Christmas Tree Shops Signs 38,000 SF Retail Lease in Bohemia, New York

by Taylor Williams October 28, 2022

BOHEMIA, N.Y. — Christmas Tree Shops, a year-round provider of seasonal housewares and décor, has signed a 38,000-square-foot, long-term lease at Sayville Plaza, located in the Long Island community of Bohemia. Ken Breslin of Breslin Realty represented the tenant in the lease negotiations. Robert Delavale, also with Breslin, represented the undisclosed landlord.

October 28, 2022

Development Illinois Industrial Midwest

McShane Completes Three-Building Spec Industrial Development in Melrose Park, Illinois

by Kristin Harlow October 28, 2022

MELROSE PARK, ILL. — McShane Construction Co. has completed a three-building speculative industrial development in suburban Chicago known as Industry Center at Melrose Park. The project totals 651,617 square feet. McShane also completed three interior buildouts for a transportation, trucking and railroad company, as well as a logistics and package delivery company and a portable storage and moving firm. Each of the buildings features a clear height of 36 feet. LBA Logistics was the developer and Harris Architects served as architect.

October 28, 2022

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