Property Type

Creation, LGE Design Build Open $17M Joint Headquarters Office in Dallas

by Taylor Williams April 28, 2023

DALLAS — Two Arizona-based firms, developer Creation and LGE Design Build, have opened a $17 million joint headquarters office in Dallas. The companies collaborated on the acquisition, design and build-out of the 32,000-square-foot space, which is located at 1280 E. Levee St. in the Dallas Design District and will house about 40 employees. Amenities include a fully stocked breakroom, speakeasy, fitness center, interior library and multiple conference rooms. Creation and LGE, which plan to occupy about 20,000 square feet and lease the remaining 12,000 square feet, will retain their current spaces and operations in Arizona.

April 28, 2023

Acquisitions Multifamily Northmarq Texas

Northmarq Arranges Sale of 220-Unit Indigo Apartments in Corpus Christi

by Taylor Williams April 28, 2023

CORPUS CHRISTI, TEXAS — Northmarq has arranged the sale of Indigo Apartments, a 220-unit multifamily property in Corpus Christi. According to Apartments.com, the property was built in 1969 and offers studio, one-, two-, three- and four-bedroom floor plans. Amenities include a pool, fitness center, business center, playground and a dog park. Moses Siller of Northmarq represented the seller, 3CM Multifamily, in the transaction. The buyer and sales price were not disclosed.

April 28, 2023

Industrial Leasing Activity Texas

Holt Lunsford Negotiates 45,000 SF Industrial Lease in Flower Mound, Texas

by Taylor Williams April 28, 2023

FLOWER MOUND, TEXAS — Locally based brokerage firm Holt Lunsford Commercial has negotiated a 45,000-square-foot industrial lease in Flower Mound, a northeastern suburb of Fort Worth. According to LoopNet Inc., the building at 1200 Lakeside Parkway was built on 26 acres in 2007 and features 18-foot clear heights. Andrew Gilbert and Keaton Brice off Holt Lunsford represented the landlord, Prologis, in the lease negotiations. Tyler Howarth and Abby Aulds, also with Holt Lunsford, represented the tenant, Lux Ice, which makes slow-melting drinking ice for alcoholic beverages.

April 28, 2023

Leasing Activity Restaurant Retail Texas

Three Tenants Sign Leases Totaling 7,175 SF at Plazas at Midtown II in Houston

by Taylor Williams April 28, 2023

HOUSTON — Three retailers have signed leases at Plazas at Midtown II, a shopping center in Houston. Dough Zone Dumpling House will open a 4,503-square-foot restaurant at the property, marking the brand’s first Texas location. Additionally, nightclub Clover has debuted an 1,848-square-foot venue, and Upscale Cleaners will open an 824-square-foot location. Fifth Corner is the landlord.

April 28, 2023

Constitution-Logistics-Center-Piscataway

Development Industrial New Jersey Northeast

Rockefeller Group Breaks Ground on 147,000 SF Industrial Project in Piscataway, New Jersey

by Taylor Williams April 28, 2023

PISCATAWAY, N.J. — New York City-based developer Rockefeller Group has broken ground on Constitution Logistics Center, a 147,000-square-foot industrial project in the Northern New Jersey community of Piscataway. The 18-acre site at 10 Constitution Ave. formerly housed a 100,000-square-foot office building that was owned and occupied by hearing aid manufacturer WS Audiology and that is now being demolished. Constitution Logistics Center will feature a clear height of 36 feet, 41 loading docks, 123 car parking spaces and 57 trailer stalls. Completion is slated for the second quarter of 2024. ARCO Construction is the general contractor for the project. Cushman & Wakefield and KBC Advisors have been appointed as the leasing agents.

April 28, 2023

Acquisitions Industrial New Jersey Northeast

Faropoint Acquires Northern New Jersey Industrial Facility for $28.3M

by Taylor Williams April 28, 2023

RIDGEFIELD, N.J. — Locally based investment firm Faropoint has acquired a 113,979-square-foot industrial facility in the Northern New Jersey community of Ridgefield for $28.3 million. Faropoint acquired the two-building facility, which consists of a 57,599-square-foot food processing and production building and a 56,380-square-foot distribution building, in a sale-leaseback with the tenant, Biazzo Dairy Products. Frank Costa III, Jim Isbell and Brian Sherlock with Viewpoint Advisors brokered the deal.

April 28, 2023

Acquisitions Multifamily Washington Western

Barcelo Homes Sells Caesars Luxury Apartments in Tacoma for $35.4M

by Jeff Shaw April 28, 2023

TACOMA, WASH. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Caesars Luxury Apartments in Tacoma. Barcelo Homes sold the 131-unit asset, which it completed development of earlier this year, for $35.4 million. IPA’s Nick Ruggiero, Philip Assouad, Giovani Napoli, Ryan Harmon and Anthony Palladino represented the seller. Kathryn Dobler of Tacoma-based Dobler Management represented the buyer, RGPD LLC. The property offers a mix of studios, urban one-bedrooms, traditional one-bedrooms and two-bedroom units. An urban one-bedroom is a unit type that is popular in the Pacific Northwest. It is a junior one-bedroom floor plan that often separates the bedroom area from the living area with a smaller wall or sliding door. Amenities at Caesars Luxury Apartments include a rooftop deck with green space, a resident lounge, bike storage and maintenance room, and a parking garage with electric vehicle charging.

April 28, 2023

Acquisitions Multifamily Oregon Seniors Housing Western

Cushman & Wakefield Arranges $35M Sale of Crescent Park Independent Living Community in Eugene, Oregon

by Jeff Shaw April 28, 2023

EUGENE, ORE. — Cushman & Wakefield has arranged the sale of Crescent Park, a 119-unit independent living community in Eugene. Built in 2014, the community is a three-story, 116,000-square-foot community on 5.7 acres. Inspired Healthcare Capital acquired the asset for $35 million. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron Rosenzweig and Dan Baker represented the seller, an investment management firm with a focus on alternative assets including seniors housing.

April 28, 2023

Acquisitions Connecticut Multifamily Northeast

NEPCG Arranges $9.7M Sale of Belden Square Apartments in Norwalk, Connecticut

by Taylor Williams April 28, 2023

NORWALK, CONN. — Regional brokerage firm Northeast Private Client Group (NEPCG) has arranged the sale of Belden Square, a 24-unit apartment complex in Norwalk, located in the southern coastal part of Connecticut. Belden Square, which includes 11,675 square feet of commercial space, was originally built in 1989 as an office building and converted to residential use in 2017. Apartments come in studio, one- and two-bedroom formats. Brad Balletto, Rich Edwards and Jeff Wright of NEPCG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

April 28, 2023

California Development Mixed-Use Multifamily Retail Western

Watermarke Properties Buys City Centre Office-to-Apartment Conversion Project in Orange, California

by Jeff Shaw April 28, 2023

ORANGE, CALIF. — Watermarke Properties has acquired City Centre I, a 6.8-acre multifamily redevelopment project, for $22.5 million. The current property is a Class A, 150,161-square-foot office building suitable for multifamily or mixed-use conversion. Current zoning designations for the site allow for up to 60 units per acre. Primary use of the site’s ground floor is slated for retail. Newmark’s Kevin Shannon, Paul Jones, Ken White, Chris Benton, Anthony Muhlstein and Brandon White represented the undisclosed seller.

April 28, 2023

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