TOWACO, N.J. — Pharmaceutical company Generichem Corp. has signed a 27,500-square-foot life sciences lease in the Northern New Jersey community of Towaco. According to LoopNet Inc., the building at 425 Main Road was constructed on 2.7 acres in 1984. Marc Trevisan and Tom Mallaney of CBRE represented the tenant in the negotiations for the full-building lease. Cushman & Wakefield represented the landlord, Schuster Bauman.
GOODYEAR, ARIZ. — Gantry has arranged a $41.6 million loan to refinance the Lunaire Apartments in Goodyear. The 240-unit community is located at 949 S. Goodyear Blvd. Amenities include modern unit interior finishes, recent landscape and exterior renovations, resort-style pool and spa, 24-hour fitness center, covered parking and EV charging stations. The five-year, fixed-rate loan was placed with Freddie Mac. It features an interest-only period and an interest rate below 5 percent.
TORRANCE, CALIF. — Legacy Partners has purchased Del Amo Village, a development site located in the Los Angeles suburb of Torrance, for $18.3 million. The site comprises 2.8 acres located within Los Angeles County’s South Bay submarket at 1844 Plaza del Amo. The development plan for the project includes entitlements for 200 market-rate apartment units. Kevin Shannon, Ken White, Chris Benton, Michael Moore and Anthony Muhlstein of Newmark represented the sellers, which were PCCP, LaCaze, Muller Co. and Bentall GreenOak.
COLUMBIA FALLS, MONT. — Brinkman Real Estate has acquired The Highline, a 180-unit multifamily property in Columbia Falls, for an undisclosed price. Columbia Falls is located within Montana’s Flathead County in the northwest corner of the state. The Highline was built in 2020. Brinkman plans to renovate the community with new landscaping and signage, smart-home packages and laundry hookups to all units, and amenities such as a grilling area. According to the property website, community amenities currently include a playground, dog park and a clubhouse. Brinkman Real Estate’s capital market team, in partnership Brady O’Donnell, Jeff Halsey, Jill Huang and Alex Scott of CBRE’s Institutional Debt and Restructured Finance team, secured financing through Fannie Mae for the acquisition. Triad Real Estate Partners represented the undisclosed seller in the transaction.
MESA, ARIZ. — Cypress West Partners purchased a 30,000-square-foot medical office building in Mesa. The single-story property is located at 6309 East Baywood Ave. The seller and price were not disclosed. The firm acquired the fully vacant building from a group of local physicians that originally developed the property in 2002. They had operated a practice there until recent retirement. A cardiology practice has signed a new lease for 20,000 square feet at the property, with plans to establish a flagship clinical location. Cypress West is investing more than $3 million in capital improvements to the building, including roof, mechanical and site improvements. It is also modernizing an existing 10,000-square-foot ambulatory surgery center to current licensure standards and code. The space will offer two operating rooms, with an ability to increase to four. The repositioning is scheduled for completion by September. Steve Berghoff and Mark Haslip of Menlo Group are handling leasing for the property.
TWIN FALLS, IDAHO — Wood Investments Cos. has announced the addition of three new tenants to Canyon Park West, a 160,140-square-foot retail center in Twin Falls. Natural Grocers plans to open a 20,000-square-foot store at the property this fall. Additionally, Ashley HomeStore and Carter’s have signed leases totaling 18,000 and 4,084 square feet, respectively, and are now open at the center.
LEXINGTON, KY. — Lincoln Property Co. (LPC) and The Webb Cos. plan to develop an 18-acre mixed-use development in downtown Lexington. The site is situated across from Rupp Arena, the home arena for the University of Kentucky Wildcats men’s and women’s basketball teams. LPC and Webb signed a long-term ground lease with the landowner, Lexington Center Corp., after a competitive request for proposal (RFP) process. The duo’s plan for the site includes apartments, stores, restaurants, a hotel and offices, among other uses. The project’s name and construction timeline were not revealed.
ST. AUGUSTINE, FLA. — Steinemann & Co. plans to develop a Bass Pro Shops Outdoor World store along World Commerce Parkway in St. Augustine, approximately 40 miles southeast of Jacksonville. Upon completion, the store will span 100,000 square feet and offer boating merchandise, in addition to hunting, fishing, camping, leisure and athletic gear and apparel. The store will also feature a large aquarium and water features stocked with native fish species, thousands of local antiques and artifacts, hundreds of trophy fish and wildlife mounts and murals depicting local scenes. The store will also offer fishing classes for kids. Set to open in 2024, the St. Augustine store will mark the 13th location for Bass Pro Shops in Florida and will employ about 115 associates.
ATLANTA — Pottery Barn plans to open a new store on the ground level of 619 Ponce, a new four-story, mass-timber office building under construction at Ponce City Market in Atlanta. Master developer Jamestown signed the retailer to a more than 18,000-square-foot lease at the building. 619 Ponce will be situated at the corner of Ponce de Leon Avenue and Glen Iris Drive and feature 87,000 square feet of office space and 27,000 square feet of retail space. The building is part of the next phase at Ponce City Market, which includes a 405-unit flexible-stay hotel and co-living building and Signal House, a 21-story active adult multifamily building. Pottery Barn is the latest retailer to join the roster at Ponce City Market, an adaptive reuse campus in Atlanta’s Old Fourth Ward district. The store is set to open in early 2024 and feature an outdoor patio and design studio.
JACKSONVILLE, FLA. — JLL has arranged the sale of a 260,000-square-foot distribution center located at 4150 Perimeter Industrial Parkway in Jacksonville’s Westside submarket. Built in 2008 on 15.4 acres, the rear-load property is fully leased to Volkswagen Group of America and is fully air-conditioned. John Huguenard, Luis Castillo, Cody Brais, Luke Pope, Taylor Osborne and Wells Waller of JLL brokered the sale. The buyer, seller and sales price were not disclosed.