Property Type

Maverick Arranges $5.4M Loan for Student Housing Community Near West Virginia University

by John Nelson June 20, 2023

MORGANTOWN, W.VA. — Maverick Commercial Mortgage Inc. has arranged a $5.4 million loan for the refinancing of a 114-bed student housing property situated adjacent to the campus of West Virginia University in Morgantown. The 34-unit property is located at 251 Stewart St. and features controlled access, 24-hour maintenance and a fitness center. Maverick Commercial arranged the 10-year, fixed-rate loan with a 25-year amortization schedule through an unnamed national bank on behalf of the borrower, a national developer based in Indianapolis.

June 20, 2023

Affordable Housing Loans Multifamily Texas

UC Funds Provides $11M Acquisition Loan for West Texas Workforce Housing Portfolio

by Taylor Williams June 20, 2023

BOSTON — Boston-based lender UC Funds has provided an $11 million acquisition loan for a portfolio of four West Texas workforce housing properties totaling 275 units. The properties — Winwood Village of Amarillo, Casa Orlando, Plains Village and Winwood Village of Plainview — are located in Amarillo, Lubbock and Plainview. The loan carried a floating interest rate. The borrower was not disclosed.

June 20, 2023

Industrial Leasing Activity Texas

Partners Real Estate Arranges 15,600 SF Industrial Lease in Houston

by Taylor Williams June 20, 2023

HOUSTON — Partners Real Estate has arranged a 15,600-square-foot industrial lease in Houston. According to LoopNet Inc., the single-tenant property at 14720 Vickery Drive was built in 2012 and offers 28-foot clear heights. Clint Hankla of Partners represented the landlord, a family office, in the lease negotiations. Nick Bergmann of CBRE represented the tenant, U.S. Foods.

June 20, 2023

Industrial Leasing Activity Texas

AlarMax Distributors Signs 11,430 SF Industrial Lease in Farmers Branch, Texas

by Taylor Williams June 20, 2023

FARMERS BRANCH, TEXAS — AlarMax Distributors Inc., a provider of home security products, has signed an 11,430-square-foot industrial lease in the northern Dallas metro of Farmers Branch. The building at 11431 Ferrell Drive totals 33,140 square feet, and the space includes a 3,000-square-foot showroom. Andrew Gilbert and Keaton Brice of Holt Lunsford Commercial represented the landlord in the lease negotiations. Kyle Espie and Brian Pafford of Bradford Commercial Real Estate Services represented the tenant.

June 20, 2023

Development Life Sciences Massachusetts Northeast

King Street Completes $170M Life Sciences Project in Cambridge, Massachusetts

by Taylor Williams June 20, 2023

CAMBRIDGE, MASS. — Locally based developer King Street Properties has completed a $170 million life sciences project located at 101 Cambridgepark Drive in Cambridge. King Street partnered with California-based Healthpeak Properties on the 160,000-square-foot project, which features both traditional office and laboratory space within a five-story building. The property also includes 3,000 square feet of street-level retail space with outdoor seating. Dimella Shaffer served as the architect of the project, which opened fully preleased. Consigli Construction Co. served as the general contractor.

June 20, 2023

Development Life Sciences New York Northeast Office

New York Blood Center Enterprises to Open 187,000 SF Headquarters Campus in Rye, New York

by Taylor Williams June 20, 2023

RYE, N.Y. — New York Blood Center Enterprises will open a 187,000-square-foot headquarters campus in Rye, located in Westchester County. The facility will include space for life sciences research, blood collections, processing and cell therapy manufacturing and traditional office functions. G3 Architects is designing the project, and Consigli Construction Co. is serving as the general contractor. Construction is underway, and completion is slated for the second half of 2024.

June 20, 2023

Acquisitions Development Industrial New York Northeast

Eagle Cliff Real Estate Buys Industrial Development Site on Long Island

by Taylor Williams June 20, 2023

ISLIP, N.Y. — New York City-based Eagle Cliff Real Estate Partners has purchased an eight-acre industrial development site located at 4955 Veterans Memorial Highway in the Long Island community of Islip. Eagle Cliff plans to construct a 108,023-square-foot building that will be known as Holbrook Logistics Center and that will clear height of 36 feet, two drive-in doors and 108 parking spaces. Delivery is slated for the third quarter of 2024. Jordan Avanzato, Marc Duval, Nicholas Stefans, Jason Lundy, Jose Cruz and Mark Belenky of JLL brokered the land deal. The seller was an undisclosed local developer. First Citizens Bank provided $19.5 million in construction financing for the deal.

June 20, 2023

Development Indiana Industrial Midwest

Walmart Opens 2.2 MSF Fulfillment Center Near Indianapolis

by Kristin Harlow June 20, 2023

MCCORDSVILLE, IND. — Walmart has opened a new 2.2 million-square-foot fulfillment center in McCordsville, about 20 miles northeast of Indianapolis. The project marks Walmart’s largest fulfillment center to date and will enable the retailer to fulfill more orders via next- or two-day shipping. More than 1,000 Walmart associates will work at the fulfillment center. Walmart employs more than 43,000 associates in Indiana.

June 20, 2023

Civic Development Indiana Midwest

Clayco Breaks Ground on $78M Terminal Expansion, Renovation Project at Fort Wayne International Airport

by Kristin Harlow June 20, 2023

FORT WAYNE, IND. — Clayco has broken ground on a $78 million expansion and renovation project for the East Terminal at Fort Wayne International Airport in Indiana. An expansion of the West Terminal wrapped up in May. Mead & Hunt is the architect. In addition to the renovation and expansion, the project also includes relocating all airline gates and passenger boarding bridges to the second level; expanding the TSA security checkpoint area; relocating the airport restaurant; and creating a new frequent flyer lounge. Work will also include new and improved public areas, including additional restrooms, new meter and greeter space, expanded circulation areas and vertical transportation. Plans also call for updating the existing baggage claim and rental car areas. Clayco will demolish existing interior and structural components to expand the building outward and vertically over the first floor, and expand the building to include a new east concourse. Completion is slated for June 2025.

June 20, 2023

Development Industrial Midwest Minnesota

ALCAT Broadway Begins Development of 182,000 SF Spec Industrial Building in Minneapolis

by Kristin Harlow June 20, 2023

MINNEAPOLIS — Developer ALCAT Broadway LLC has begun construction of The Broadway, a 182,000-square-foot speculative industrial building located at the intersection of Broadway Street and Industrial Boulevard in Minneapolis. The project will feature a clear height of 32 feet, 33 dock doors and up to 20 spaces for trailer storage. The development is situated within an Opportunity Zone. Todd Hanson, Jason Sell and Jordan Dick of Cushman & Wakefield will market the project for lease. Completion is slated for the fourth quarter.

June 20, 2023

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