Property Type

SRS Real Estate Brokers $3M Sale of Wendy’s-Occupied Property in Chicago

by Kristin Harlow June 6, 2023

CHICAGO — SRS Real Estate Partners has brokered the sale of a single-tenant retail property occupied by Wendy’s in Chicago for $3 million. Built in 1983 and renovated in 2022, the 4,031-square-foot building is located at 2811 N. Narragansett Ave. Sean Lutz and Dan Elliott of SRS represented the seller, a California-based private investor. Bruce Lee and Hope Kim of New Star Realty represented the all-cash buyer, a California-based private investor. The sales price of $753 per square foot represented a cap rate of 5.27 percent.

June 6, 2023

Acquisitions Illinois Midwest Retail

Coldwell Banker Commercial Negotiates $2.2M Sale of Retail Strip Center in Normal, Illinois

by Kristin Harlow June 6, 2023

NORMAL, ILL. — Coldwell Banker Commercial Real Estate Group has negotiated the $2.2 million sale of College Oak Square Strip Mall in Normal, just north of Bloomington. The 29,000-square-foot property, built in 1986, is home to 19 tenants and is located at 1520 E. College Ave. Greg Yount of Coldwell Banker Commercial represented the seller, Broadmoor Park LLC. The buyer was undisclosed.

June 6, 2023

Acquisitions Industrial Texas

Cohen Asset Management Acquires 920,275 SF Logistics Facility in South Dallas

by Taylor Williams June 6, 2023

DALLAS — Southern California-based investment firm Cohen Asset Management has acquired DalParc Logistics Center Building 1, a 920,275-square-foot industrial property in South Dallas. The building was constructed in 2016 and serves as a fulfillment center for Amazon. Randy Baird, Jonathan Bryan, Ryan Thornton, Nathan Wynne and Eliza Bachhuber of CBRE represented the undisclosed seller in the transaction. The sales price was not disclosed.

June 6, 2023

Development Industrial Texas

Hoar Construction Breaks Ground on 328,000 SF Parking Garage at Sam Houston State University in Metro Houston

by Taylor Williams June 6, 2023

CONROE, TEXAS — General contractor Hoar Construction has broken ground on a 328,000-square-foot parking garage on the Sam Houston State University campus in Conroe, about 40 miles north of Houston. The garage, which will feature 983 spaces, is being constructed to accommodate students and faculty at the new health professions building, construction of which will begin next year. Kirksey Architecture designed the parking garage, which is slated for a summer 2024 delivery.

June 6, 2023

Acquisitions Industrial Texas

Partners Arranges Sale of 37,500 SF Industrial Property in Laredo, Texas

by Taylor Williams June 6, 2023

LAREDO, TEXAS — Partners Real Estate has arranged the sale of a 37,500-square-foot industrial property in the Rio Grande Valley city of Laredo. According to LoopNet Inc., the property at 14610 Atlanta Drive was built on 2.5 acres in 1997 and features 24-foot clear heights. Gustavo Torres of Partners represented the seller, a private investor, in the transaction. The buyer and sales price were not disclosed.

June 6, 2023

Acquisitions Multifamily Seniors Housing Texas

Blueprint Negotiates Sale of 30-Unit Seniors Housing Community in San Angelo, Texas

by Taylor Williams June 6, 2023

SAN ANGELO, TEXAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 30-unit assisted living and memory care community in the West Texas city of San Angelo. The property consists of two adjacent buildings on a 2.8-acre site that can support future expansion. A publicly traded REIT sold the asset, which was built in 2012, to an East Coast-based seniors housing owner-operator looking to expand upon its Texas footprint. Both parties involved in the deal requested anonymity.

June 6, 2023

Leasing Activity Restaurant Retail Texas

Foxtrot Opens 6,000 SF Store, Café in Austin

by Taylor Williams June 6, 2023

AUSTIN, TEXAS — Foxtrot, a corner store and delivery market, has opened a 6,000-square-foot store and café in Austin’s Bouldin Creek area, marking the second location for the brand in the state capital. The site formerly housed an auto repair shop and grocer, and the space will include a covered indoor-outdoor patio. Foxtrot currently operates 27 locations nationwide and plans to open a third store in Austin in the coming weeks.

June 6, 2023

Development Industrial New York Northeast

L&L Holding, Columbia Property Top Out 1.3 MSF Terminal Warehouse in Manhattan

by Taylor Williams June 6, 2023

NEW YORK CITY — A joint venture between L&L Holding Co. and Columbia Property Trust has topped out Terminal Warehouse, a 1.3 million-square-foot industrial redevelopment project in Manhattan’s West Chelsea neighborhood. Designed by COOKFOX Architects, the project centers on the conversion of a historic warehouse that was originally built in 1891 into a mixed-use destination with office and retail components. The development also includes 2.5 acres of open green space. Full completion is slated for 2024.

June 6, 2023

Acquisitions Industrial New Jersey Northeast

Cushman & Wakefield Arranges Sale of 293,887 SF Industrial Property in Livingston, New Jersey

by Taylor Williams June 6, 2023

LIVINGSTON, N.J. — Cushman & Wakefield has arranged the sale of West Essex Logistics Center, a 293,887-square-foot industrial property in the Northern New Jersey community of Livingston. The property is a redevelopment of the former CIT Bank office headquarters campus and features a clear height of 36 feet, 54 loading docks and two drive-in doors. Gary Gabriel, David Bernhaut, Kyle Schmidt and Ryan Larkin of Cushman & Wakefield represented the seller, a partnership between Bluewater Property Group and Affinius Capital, in the deal. The buyer was Atlanta-based Invesco Real Estate.

June 6, 2023

Development Loans Multifamily New York Northeast

Deutsche Bank, Naftali Provide Construction Financing for Manhattan Residential Project

by Taylor Williams June 6, 2023

NEW YORK CITY — Deutsche Bank and Naftali Credit Partners have provided an undisclosed amount of construction financing for a residential project in Manhattan’s Greenwich Village area. Designed by Kohn Pedersen Fox, the project will consist of 28 for-sale condos and ground-floor retail space. Deutsche Bank provided the senior loan, and Naftali issued mezzanine debt. The borrower was a joint venture between New York City-based Argo Real Estate and Indian developer B Safal. Project completion is slated for 2024.

June 6, 2023

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