TEANECK, N.J. — Astoria Realty Corp. has sold a 20,413-square-foot retail strip center located in the Northern New Jersey community of Teaneck for $6.2 million. The property at 1374-1400 Queen Anne Road was originally built in 1930 and renovated earlier this year. Glatt’s Express Supermarket serves as the anchor of the center, which was 93 percent leased at the time of sale. Karly Iacono of CBRE represented Astoria Realty Corp. in the transaction. The buyer was not disclosed.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $4.7 million sale of a nine-unit multifamily building in Brooklyn’s Heights neighborhood. The building houses eight one-bedroom units and one two-bedroom unit. Sean Kelly, Stephen Vorvolakos, Nicole Daniggelis and Julian Montilus of Ariel represented the undisclosed seller in the transaction. The buyer, which was also undisclosed, acquired the property vacant and plans to convert it into for-sale condominiums.
DALLAS — Dallas-based discount home goods retailer Tuesday Morning is going out of business and closing all of its stores. The company’s website lists a going-out-of-business sale where consumers can save up to 30 percent off all items. The retailer has about 200 stores remaining in 25 states. The news comes just one week after Bed Bath & Beyond’s announcement of its closure. Tuesday Morning struggled throughout the pandemic, filing for Chapter 11 bankruptcy protection in May 2020. At that time, the retailer shuttered about 230 of its 687 stores. Notably, the company does not have an e-commerce platform. Earlier this year, Tuesday Morning attempted to reorganize its finances and secured $12.5 million debtor-in-possession financing from Gordon Brothers. The financing was intended to reduce outstanding liabilities and continue transforming operations through the bankruptcy process. In late December 2022, the retailer voluntarily delisted from the Nasdaq capital market. At that time, the company’s stock price had plummeted to $1.54 per share. Tuesday Morning opened its first store in 1974. The retailer sells home textiles, home furnishings, housewares, food, toys and seasonal decor at prices generally below those found in boutique, specialty stores, department stores, catalogs and online retailers. — Kristin Harlow
SAN ANTONIO — Locally based developer Koontz Corp. will build Frontera Logistics Supersite, a 188-acre industrial project that will be located on the south side of San Antonio. Plans currently call for up to 2.8 million square feet of manufacturing and warehouse space across eight buildings with parking for 3,350 cars and 812 trailers. Carl Olson of Olson Properties represented the undisclosed sellers in the disposition of the land, which is an assemblage of 11 parcels. Koontz Corp. was self-represented in that transaction. Beaty Palmer Architects is designing the project, and Partners Real Estate has been appointed as the marketing and leasing agent. A construction timeline has not yet been finalized.
NORTH RICHLAND HILLS, TEXAS — Colliers Mortgage has provided a Fannie Mae acquisition loan of an undisclosed amount for Castlewinds Apartments, a 156-unit multifamily complex located in the Fort Worth suburb of North Richland Hills. The property offers amenities such as a pool, fitness center and onsite laundry facilities. Fritz Waldvogel of Colliers Mortgage originated the five-year loan on behalf of the borrower, an entity doing business as Haven NRH Inc.
PASADENA, TEXAS — Locally based brokerage firm Partners Real Estate has arranged the sale of a 60,680-square-foot industrial property in the eastern Houston suburb of Pasadena. The multi-tenant facility sits on a 10.6-acre site at 3321-3411 Westside Drive. According to LoopNet Inc., the building rises two stories, was constructed in 1973 and has four drive-in doors. Clay Pritchett and Zane Carman of Partners represented the buyer, Grace Heritage Properties, in the transaction. The seller was also not disclosed.
ELMENDORF, TEXAS — Houston-based brokerage firm Finial Group has negotiated a 29,105-square-foot industrial lease renewal in Elmendorf, a southeastern suburb of San Antonio. According to LoopNet Inc., the property at 19940 I-27 S was built on 2.2 acres in 2013 and features 16- to 20-foot clear heights. Finial Group owns the building, and internal agents David Durham and Patrick Rubsamen negotiated the deal. Brian Schaffer of Realty Austin represented the tenant, Midwest Hose & Specialty, which serves the energy sector.
DALLAS — Dallas-based Paceline Equity Partners has signed a 12,465-square-foot lease at The Offices at Turtle Creek Village in the Oak Lawn area of Dallas. The 18-story, 229,868-square-foot building was originally constructed in 1973 and offers a conference room and a tenant lounge. Travis Boothe and Zach Bean of Cushman & Wakefield represented the tenant in the lease negotiations. Tommy Nelson and Alexandra Cullins of CBRE represented the landlord, Los Angeles-based CIM Group, which acquired the building in 2017.
GLEN MILLS, PA. — Chicago-based investment firm Waterton has acquired The Point at Glen Mills, a 230-unit apartment community located on the western outskirts of Philadelphia. Built in 2016, the property comprises five four-story buildings on a 13.6-acre site. Units come in one- and two-bedroom floor plans, and amenities include a fitness center, leasing office, conference facility and a catering kitchen. Waterton plans to implement a value-add program and rebrand the property as Heights at Glen Mills. The seller and sales price were not disclosed.
CLIFTON PARK, N.Y. — Commercial finance and advisory firm Axiom Capital Corp. has arranged a $38.5 million acquisition loan for a retail center located in the upstate New York community of Clifton Park. The unnamed center consists of six buildings on five parcels that collectively house 64 tenants. A consortium of banks provided the financing to the borrower. All parties involved in the transaction were locally based entities that requested anonymity.