Property Type

IntegraCare Opens 130-Unit Seniors Housing Community in York, Pennsylvania

by Taylor Williams April 20, 2023

YORK, PA. — Seniors housing owner-operator IntegraCare has opened The Residence at Fitz Farm, a 130-unit community in York. The 124,000-square-foot facility sits on a 16.5-acre site that was previously part of a family farm. The property houses 68 independent living units, 42 assisted living residences and 20 memory care units. Amenities include multiple onsite dining venues, fitness and therapy areas, a beer rathskeller, theater, hair salon, library, card room and various outdoor green spaces. IntegraCare developed The Residence at Fitz Farm in partnership with Indianapolis-based Avenue Development.

April 20, 2023

Industrial Leasing Activity New Jersey Northeast

Global Interactive Logistics Signs 115,000 SF Industrial Lease in Secaucus, New Jersey

by Taylor Williams April 20, 2023

SECAUCUS, N.J. — Third-party warehousing and freight firm Global Interactive Logistics (GIL) has signed a 115,000-square-foot industrial lease in the Northern New Jersey community of Secaucus. The multi-tenant facility at 1000 New County Road was built on 25.5 acres in 1968 and totals 525,224 square feet. Conor Dolan, Jeff Babikian, Nick Klacik and Kevin Dudley of CBRE represented GIL, which will relocate from nearby Kearny, in the lease negotiations. Larry Schiffenhaus and Tom Monahan, also with CBRE, represented the landlord, Prologis.

April 20, 2023

Acquisitions Northeast Pennsylvania Retail

Marcus & Millichap Brokers $4.7M Sale of Shopping Center in Harrisburg, Pennsylvania

by Taylor Williams April 20, 2023

HARRISBURG, PA. — Marcus & Millichap has brokered the $4.7 million sale of Brandywine Plaza, a 44,241-square-foot shopping center located in Harrisburg. The property was fully leased to 21 tenants at the time of sale. Craig Dunkle and Mher Vartanian of Marcus & Millichap represented the seller. Dunkle and Vartanian also secured the buyer, an undisclosed developer.

April 20, 2023

Industrial Leasing Activity New Jersey Northeast

NAI Hanson Negotiates 32,895 SF Industrial Lease in Allendale, New Jersey

by Taylor Williams April 20, 2023

ALLENDALE, N.J. — NAI James E. Hanson has negotiated a 32,895-square-foot lease at 1 Pearl Court, an industrial flex building in the Northern New Jersey community of Allendale. The building is one of seven within the 370,000-square-foot Allendale Industrial Park, which is owned by Camber Real Estate Partners and Advance Realty Investors. Thomas Vetter and Jeff Demagistris of NAI Hanson represented the tenant, a medical equipment manufacturer, in the lease negotiations. Kenneth Lundberg, Patrick Lennon and Lorenzo Lambiase, also with NAI Hanson, represented the landlord.

April 20, 2023

Development Industrial Retail Southeast Top Stories

Ingka Group to Invest $2.2B in New IKEA Locations, Omnichannel Growth Across US

by Katie Sloan April 20, 2023

LEIDEN, NETHERLANDS — Ingka Group has announced plans to invest $2.2 billion over the course of the next three years on new IKEA retail locations and omnichannel growth across the United States. The Leiden, Netherlands-based company is the largest owner of IKEA stores globally, representing more than 90 percent of IKEA retail sales with more than 370 stores and 100 home décor planning studios open across 31 countries. The initial phase of investment will include opening eight stores in IKEA’s traditional format and nine “Plan and Order” points, which are smaller stores dedicated to kitchen, bedroom and living room planning. Plan and Order is an extension of IKEA’s existing planning studio business and is a relatively new endeavor for the company, with only two locations currently open in England. Ingka Group’s new stores will be primarily located in the Southern United States, a region where IKEA currently has a smaller concentration of locations, according to reports by The Wall Street Journal. These stores will create over 2,000 jobs upon completion. IKEA US, the American subsidiary of the retailer, has also announced new locations in San Francisco and Arlington, Va., that are set to open this summer. The $2.2 billion investment …

April 20, 2023

Market Reports Midwest Midwest Market Reports Nebraska Retail

Today’s Retail Landscape in Omaha is Different, But Healthy

by Kristin Harlow April 20, 2023

By Holly Jones and Trey MacKnight, Cushman & Wakefield/The Lund Co. The world of retail real estate in the Midwest has been rapidly evolving over the past few years, with the pandemic serving as a catalyst for more change. As we move further into 2023, it’s becoming increasingly clear that the retail landscape is different than in years past, yet healthy in numbers. In this article, we’ll explore and explain some of the latest trends, developments, absorption and vacancy, and how this is impacting the industry as a whole. Whether you’re a retailer, landlord or investor, it’s essential to stay up to date with the current market and future developments. Omaha’s retail market recorded 350,931 square feet of positive absorption in the fourth quarter, bringing the year-to-date absorption total to 1 million square feet. Throughout 2022, there were 34 buildings delivered, increasing the retail inventory by 379,733 square feet. At the close of the year, more than 86 percent of the new construction was occupied, creating a very healthy environment. While there were sizable deals inked throughout the year, just over 85 percent of the new leases signed were under 5,000 square feet. Many of the leases were signed by …

April 20, 2023

Acquisitions Content Partner Features Industrial Midwest Multifamily NAI Northeast Office Retail Southeast Texas Western

Tax-Efficient Investment Strategies Open New Opportunities Despite High Interest Rates

by Sarah Daniels April 20, 2023

The recent Silicon Valley Bank and Signature Bank collapses — and the takeover of First Republic Bank — have revived regulatory scrutiny on bank risk to a degree that is reminiscent of the financial crisis 15 years ago. Suddenly, it seems, everyone is concerned about the trillions of dollars in commercial real estate debt held at banks — and regional and community banks in particular — and whether it can be refinanced at higher interest rates as it matures over the next couple of years. The same holds for hundreds of billions of dollars of commercial mortgage-backed securities. The conditions are exacerbating a pullback in credit that started last year, which, along with the elevated interest rate environment, has depressed commercial real estate investment sales. In February, property sales dropped 51 percent, from $54.9 billion to $26.9 billion from a year earlier, according to MSCI Real Assets. Taken together, the wall of maturities, higher interest rates, bank collapses and a slumping economy have largely spooked the investment market, suggests Spencer Lund, chief investment officer with NAI Legacy in Minneapolis, Minn. (which also serves Chicago, Denver and Scottsdale, Ariz.) Still, it’s also the type of environment that breeds opportunity as prices …

April 20, 2023

Development Mixed-Use Texas

Wildcat Management to Develop $150M Mixed-Use Project in Mansfield, Texas

by Taylor Williams April 19, 2023

MANSFIELD, TEXAS — Locally based development and investment firm Wildcat Management will build Castle Ranch, a $150 million mixed-use project that will be located in the southern Fort Worth suburb of Mansfield. Castle Ranch will include apartments, townhomes, retail and restaurant space and coworking office space, as well a multitude of pocket parks, walkable streets, sidewalks and pedestrian paths. The development will also connect to a new city park and trail system, both of which under construction. The groundbreaking of Castle Ranch is slated for 2024.

April 19, 2023

Loans Multifamily Texas

Dwight Capital Provides $31.4M HUD-Insured Loan for Multifamily Asset in Little Elm, Texas

by Taylor Williams April 19, 2023

LITTLE ELM, TEXAS — New York City-based Dwight Capital has provided a $31.4 million HUD-insured loan for the refinancing of The Village at Lakefront, a 242-unit multifamily property located in the North Texas community of Little Elm. The property was built on 6.4 acres in 2017 and consists of two four-story apartment buildings, a clubhouse with a community room, fitness center and a leasing office. Brandon Baksh of Dwight Capital originated the financing through HUD’s 223(f) program on behalf of the borrower, ChadNic Properties.

April 19, 2023

Acquisitions Industrial Texas

Avison Young Arranges Sale of 234,215 SF Industrial Building in Northwest Houston

by Taylor Williams April 19, 2023

HOUSTON — Avison Young has arranged the sale of a 234,215-square-foot industrial building in northwest Houston. The building sits on a 15-acre site at 4414 Hollister Road and features 25-foot clear heights, 150-foot truck court depths, 25 dock-high doors, 155 car parking spaces and 2.5 acres for additional parking or outdoor storage. Drew Coupe and Dawson Smith of Avison Young represented the seller, Austin-based private equity firm Frontera Capital Partners, in the transaction. Nick Peterson of Transwestern represented the undisclosed buyer.

April 19, 2023

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