Property Type

Cushman & Wakefield Secures 216,317 SF Industrial Lease at Osprey Logistics Park in Coral Springs, Florida

by John Nelson July 24, 2023

CORAL SPRINGS, FLA. — Cushman & Wakefield has arranged a 216,317-square-foot lease at Osprey Logistics Park, a 427,515-square-foot industrial development currently underway in Coral Springs. Matthew McAllister and Christ Metzger of Cushman & Wakefield’s South Florida Industrial Team represented the landlord and developer, Foundry Commercial, in the leasing negotiations. Steve Wasserman and Erin Byers of Colliers represented the tenant, CTS Engines. CTS Engines will move its headquarters to Building 2 upon completion of the project, which is scheduled for late 2023. The building features 36-foot clear heights, 235-foot building depth, a 180-foot truck court, R-19 insulated roof deck, an ESFR sprinkler system and office space.

July 24, 2023

Development Industrial Oklahoma Texas

Seefried Industrial Underway on 842,043 SF Project for Aerospace Manufacturer in Oklahoma City

by Taylor Williams July 24, 2023

OKLAHOMA CITY — Atlanta-based developer Seefried Industrial Properties, in partnership with Truist Securities, is underway on construction of an 842,043-square-foot, build-to-suit project in Oklahoma City. The new facility will act as a hub for depot support for the military engines of Pratt & Whitney, which are maintained at Tinker Air Force Base. The facility, which is expandable to 942,000 square feet, will feature an 86,000-square-foot office component, and future development plans include an adjacent, 100,000-square-foot training facility. In addition, the main warehouse will offer 40-foot clear heights, up to 120 dock-high doors, six grade-level doors, 515 auto parking stalls (including EV charging spots) and 103 trailer spaces. Construction is slated for a second-quarter 2024 completion.

July 24, 2023

Leasing Activity Office Texas

J.C. Penney Reopens 320,000 SF Office Campus in Plano, Welcomes Back 2,000 Associates

by Taylor Williams July 24, 2023

PLANO, TEXAS — J.C. Penney has reopened its 320,000-square-foot corporate office at The Campus at Legacy West (CALWest) in Plano, welcoming back some 2,000 associates in the process. The department store chain originally opened in CALWest campus in 1992 when it relocated to Texas from New York City, but the offices were largely shuttered after J.C. Penney filed for Chapter 11 bankruptcy protection during the early days of the COVID-19 pandemic. The office now features an open floor plan to encourage collaboration among employees, who will also have access to amenities such as pickleball courts, an arcade, fitness center and a golf simulator. J.C. Penney first re-affirmed its commitment to the space in March 2022 by signing a new lease.

July 24, 2023

Affordable Housing Loans Multifamily Texas

BWE Provides $14.3M Agency Refinancing of Affordable Housing Complex in Buda, Texas

by Taylor Williams July 24, 2023

BUDA, TEXAS — BWE, the commercial lender formerly known as Bellwether Enterprise Real Estate Capital, has provided a $14.3 million Freddie Mac loan for the refinancing of Tuscany Park Apartment Homes, a 176-unit affordable housing complex located in the southern Austin suburb of Buda. The property consists of 14 buildings, and the majority (142) of the units are reserved for households earning 60 percent or less of the area median income. Amenities include a pool, fitness center, playground and a community room. Jon Killough and John Roberts of BWE originated the financing, which was structured with a floating interest rate and five years of interest-only payments, on behalf of the borrower, Alabama-based Envolve Communities.

July 24, 2023

Industrial Leasing Activity Texas

Hobi International Signs 98,489 SF Industrial Lease Renewal in Northwest Dallas

by Taylor Williams July 24, 2023

DALLAS — Hobi International, a provider of mobile asset management services, has signed a 98,489-square-foot industrial lease renewal at 7601 Ambassador Row in northwest Dallas. According to LoopNet Inc. the property was built in 1958 and totals 185,220 square feet. Craig Jones of JLL represented the tenant in the lease negotiations. Sam Abusaad represented the landlord, Chicago-based ML Realty Partners, on an internal basis.

July 24, 2023

Acquisitions Multifamily Texas

Colliers Arranges Sale of 90-Unit Azul Apartments in North Houston

by Taylor Williams July 24, 2023

HOUSTON — Colliers has arranged the sale of Azul Apartments, a multifamily complex in North Houston. According to Apartments.com, the property was built in 2019, totals 90 units and offers studio, one-, two- and three-bedroom floor plans. Jaleel Adatia, Chip Nash, and Bob Heard of Colliers represented the seller, an entity doing business as ZK Jester Inc., in the transaction. The team also procured the buyer, Lonestar Capital Group.

July 24, 2023

Development Industrial Washington Western

Bridge Industrial Acquires 13-Acre Site for Bridge Point Kent 180 Development in Washington

by Jeff Shaw July 24, 2023

KENT, WASH. — Bridge Industrial is expanding its presence in the Pacific Northwest with the acquisition of a 13-acre site at 7730 S. 202nd St. in Kent. The site will eventually house Bridge Point Kent 180, a Class A industrial facility spanning 180,000 square feet. An aluminum smelting plant previously occupied the site, which requires significant environmental remediation due to nearly 40 years of contamination. Bridge plans to demolish the existing structure and conduct extensive cleanup before commencing construction on Bridge Point Kent 180 in the first quarter of 2024. The facility is scheduled for completion by the first quarter of 2025. Bridge Point Kent 180 will cater to a range of tenants, including ecommerce, logistics and cold storage users. The facility will feature 36-foot clear heights, multiple loading doors, trailer parking and car parking. Bridge’s continued expansion in the Seattle region reflects the strong demand for modern, sizable industrial facilities in this market, according to the company.

July 24, 2023

Acquisitions California Industrial Western

Lee & Associates Negotiates $10.7M Sale of Industrial Building in Chatsworth, California

by Jeff Shaw July 24, 2023

CHATSWORTH, CALIF. — Lee & Associates has arranged the sale of a 37,000 square-foot industrial building in Chatsworth. Northwest Industrial Center sold the asset to an undisclosed buyer for $10.7 million. The property is located at 9223 Deering Ave. in the Northpark Industrial Center. Previously serving as the location for a database management company, the site’s location in the San Fernando Valley provides access to major freeways and surrounding hubs. Scott Caswell and Erica Balin of Lee & Associates – LA North/Ventura represented both the buyer and the seller.

July 24, 2023

Acquisitions Colorado Retail Western

Westwood Financial Sells 23,847 SF Yosemite Center Retail Property in Greenwood Village, Colorado

by Jeff Shaw July 24, 2023

GREENWOOD VILLAGE, COLO. — Westwood Financial has sold Yosemite Center, a 23,847-square-foot shopping center located in Greenwood Village, roughly 12 miles south of Denver. Tenants at the property, which was fully leased at the time of sale, include Chipotle Mexican Grill, Jimmy John’s, Advance Auto Parts, Massage Envy, The Joint and D1 Training. CBRE National Retail Partners brokered the transaction.

July 24, 2023

Acquisitions California Multifamily Western

CBRE Brokers $4.3M Sale of 12-Unit Apartment Property in Anaheim, California

by Jeff Shaw July 24, 2023

ANAHEIM, CALIF. — CBRE has arranged the sale of a 12-unit multifamily property at 921-927 S. Trident St. in Anaheim. The property traded hands between two private investors in a 1031 exchange. The property was constructed in 1962 and comprises two buildings on a 0.4-acre site. Units come in two- and three-bedroom layouts. Units were recently renovated with new baseboards and blinds, updated showers, plank flooring and new cabinets and countertops. Dan Blackwell, Andrew Boukather and Sean Farag represented the buyer in the transaction.

July 24, 2023

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