FORT WALTON BEACH, FLA. — U-Haul has completed the development of a new, 800-unit self-storage facility in Fort Walton Beach dubbed U-Haul Moving & Storage of the Emerald Coast. Located at 200 Irwin Ave., the facility comprises 138,000 square feet. U-Haul acquired the property, which was originally constructed in 1971 and formerly housed a J.M. Fields department store and Kmart, in 2019. The acquisition and adaptive reuse of the site aligns with U-Haul’s corporate sustainability initiatives, and the company worked with the Audubon Society to maintain a bird-friendly rooftop for the threatened Least Turn and Black Skimmer species.
HOUSTON — CDC Houston, a division of Coventry Development Corp., has acquired 100 percent interests in two office buildings totaling 476,300 square feet in North Houston that the company developed in a joint venture with Patrinely Group and USAA Real Estate. Built in 2019, City Place 1 totals 149,500 square feet and is leased to tenants such as Arroyo Energy Investors and Focus Optical. Completed in 2018, City Place 2 spans 326,800 square feet and serves as the headquarters of the American Bureau of Shipping. The firm acquired the assets in conjunction with a purchase of majority stakes in two Marriott-branded hotels that are located within the City Place master-planned development.
DENTON, TEXAS — Marcus & Millichap has negotiated the sale of Stuff Hotel, a 440-unit self-storage facility located in the North Texas city of Denton. The property was built in 1985 and spans 56,310 square feet of net rentable of space. Brandon Karr, Danny Cunningham and Jon Danklefs of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Danklefs also procured the buyer, another limited liability company. Both parties requested anonymity.
DALLAS — Seattle-based investment firm Lake Washington Partners has purchased Tradepoint 20/45, a 418,000-square-foot industrial facility in South Dallas. Built in 2022, the property features 36-foot clear heights, 78 dock doors, two ramps, 124 car parking spaces and 107 trailer stalls. Dustin Volz, Stephen Bailey, Adam Citron, Dom Espinosa and Zach Riebe of JLL represented the seller, a partnership between Blumenfeld Development Group and Declaration Partners, in the transaction.
LUBBOCK, TEXAS — Coldwell Banker Commercial Capital Advisors has brokered the sale of San Remy Apartments, a 100-unit complex in the West Texas city of Lubbock. The five-building complex was built on 3.5 acres in 1973 and was 96 percent occupied at the time of sale. Chase Tucker and Taylor Tucker of Coldwell Banker represented the seller, a limited liability company, in the transaction. A private investment group purchased the asset for an undisclosed price.
NEW YORK CITY — Walker & Dunlop has arranged a $100 million loan for the refinancing of JFK Logistics Center, a 423,000-square-foot industrial property in Queens that is fully leased to Amazon. The multi-story facility sits on 10.7 acres and features a clear height of 36 feet, 16 loading positions and two floors of parking. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz and Mo Beler arranged the debt on behalf of the borrower, a partnership between Wildflower Ltd. and Amstar. J.P. Morgan Investment Management provided the loan.
BOSTON — Electra America Hospitality Group, a division of Florida-based private equity firm Electra America, has acquired Kimpton Nine Zero, a 190-room boutique hotel in downtown Boston. The new ownership plans to implement a $15 million capital improvement program and to rebrand the property as the Hotel AKA Boston Common. The deal traded off-market, and the seller and sales price were not disclosed.
BOSTON — JLL has negotiated the sale of a 164-room Courtyard by Marriott hotel in South Boston. The six-story building was constructed in 2005 and offers a fitness center, business center, onsite restaurant, 625 square feet of meeting and event space and a 6,000-square-foot retail space. Alan Suzuki and Matthew Enright of JLL represented the seller, Pennsylvania-based Hersha Hospitality Trust, in the transaction. The buyer and sales price were not disclosed.
NORRISTOWN, PA. — Colliers has brokered the $22.5 million sale of a 262,000-square-foot community service center located at 1430 Dekalb Ave. in Norristown, a northwestern suburb of Philadelphia. The 3.1-acre site of the five-story building was formerly home to Sacred Heart Hospital and includes a parking deck. Eric Grad of Colliers, in conjunction with CBRE and local brokerage firm Flynn Co., represented the seller in the transaction. Both parties involved requested anonymity.
WALTHAM, MASS. — Veeco, a New York-based manufacturer of semiconductors and electronics, has signed a 16,506-square-foot life sciences lease at 130 Turner Street, a 270,000-square-foot facility located in the western Boston suburb of Waltham. Matt Malatesta, Mike Frisoli, Tyler McGrail, Margaret Fee and Eric Jeremiah of Newmark represented the landlord, Jumbo Capital, in the lease negotiations. Malatesta also represented the tenant.