AUSTIN, TEXAS — Southern California-based Vista Investment Group has acquired SoCo Apartments, a 122-unit multifamily property in Austin. Built in 2004, the property offers one, two- and three-bedroom units that are housed across 16 two-story buildings. Amenities include a pool, clubhouse, fitness center, coffee bar and picnic and grilling areas. The new ownership plans to invest in capital improvements to unit interiors, building exteriors and amenity spaces. Will Balthrope, Jordan Featherston and Kent Myers of Institutional Property Advisors, a division of Marcus & Millichap, represented the undisclosed seller in the transaction.
NEWARK, N.J. — Greystone has provided $74.3 million in Fannie Mae financing for a portfolio of 17 affordable housing properties totaling 574 units in Newark. The financing comprises five separate loans, all of which carry 10-year terms and 30-year amortization schedules. The properties range in size from nine to 108 units. Some of the assets are reserved for renters earning 60 percent or less of the area median income (AMI), while others feature an income restriction threshold of 80 percent of AMI. Hope Curtis of Greystone originated the financing. The borrower(s) were not disclosed.
MILFORD, MASS. — Ambri, a provider of renewable energy storage solutions, has signed a 140,000-square-foot lease to open a build-to-suit manufacturing facility in Milford, located in the southern central part of the state. The facility will be located within Quarry Square, a retail center that is being redeveloped into an industrial flex property. Steve Clancy and Danielle Simbliaris of CBRE represented the landlord, R.J. Kelly, in the lease negotiations. Chris Scott of Dallas-based Lincoln Property Co. represented the tenant.
FAIRFIELD, N.J. — Chicago-based investment firm CenterPoint Properties has acquired a 57,731-square-foot industrial building in the Northern New Jersey community of Fairfield. The undisclosed tenant will continue to lease back the space, which is situated on a 4.3-acre site. Eric Lewin and Joe Manganaro of Team Resources brokered the deal, which traded off-market.
WILLINGBORO, N.J. — New Jersey-based brokerage firm Jeffery Realty has arranged the sale of Willingboro Town Center, a 30,000-square-foot shopping center in Southern New Jersey. The property was built in 2006 and is located at 4376 Route 130. Shane Wierks of Jeffery Realty represented the undisclosed seller and procured the buyer, a private investor, in the transaction.
MATAMORAS, PA. — Planet Fitness will open a 16,369-square-foot gym at Westfall Town Center, a 115,360-square-foot shopping center in Matamoras, located near the confluence of the New Jersey-New York-Pennsylvania border. The opening is slated for this fall. A 73,000-square-foot ShopRite grocery store anchors the center. Derek Zerfass and Scott Horner of Colliers represented the landlord, Chicago-based CenterPoint Properties, in the lease negotiations. Royal Properties represented the tenant.
CHICAGO — Boston Consulting Group (BCG) has signed a 15-year lease for roughly 250,000 square feet of office space at 360 North Green, an office and retail development planned for Chicago’s Fulton Market district. BCG will move 1,000 of its Chicago-based employees to the new office space and expects to take occupancy in 2025. Sterling Bay and J.P. Morgan Global Alternatives are the developers of the 24-story, 500,000-square-foot building, which was designed by Gensler. Construction of the building is expected to begin this summer. Nancy Pacher, Lisa Konieczka and Meredith Bell Frese of CBRE represented the tenant, while Russ Cora and Jess Brown represented ownership on an internal basis.
COLUMBUS, OHIO — Saltbox, a flexible warehousing and small-business logistics provider, has opened a new fulfillment hub in Columbus. The 80,000-square-foot building is the sixth Saltbox location nationwide and the first in Ohio. The property is situated near John Glenn Columbus International Airport, major railroads and I-270. Saltbox says the location enables its members to reach 67 percent of the U.S. population via two-day shipping. More than 70 percent of Saltbox’s 300 members are e-commerce companies that sell physical goods directly to consumers. Saltbox plans to open more locations across the U.S. this year. Saltbox members have access to the company’s warehouses and fulfillment services to assist in their e-commerce businesses.
PREMIER Design + Build Group Breaks Ground on 51,950 SF Spec Industrial Facility in Suburban Chicago
VERNON HILLS, ILL. — PREMIER Design + Build Group has broken ground on a 51,950-square-foot speculative industrial facility in the northwest Chicago suburb of Vernon Hills. The building will feature a clear height of 32 feet, eight dock positions, two drive-in doors and 86 parking spaces. Completion is slated for November. JRW Property Holdings LLC is the developer, Cornerstone is the architect, Swift Structural is the structural engineer and Connelly Electric is the electrical engineer. Cushman & Wakefield will market the project for lease.
HURON, S.D. — Kraus-Anderson has completed a $9 million renovation and expansion of Huron Regional Medical Center in Huron, a city in eastern South Dakota. The 23,500-square-foot expansion doubled the size of the clinic, providing enough space to serve more patients and house up to 20 physicians. A renovation of the emergency and imaging department added new infusion bays, treatment rooms and advanced hospital imaging, including MRI and 3D Mammography scanners. The property now rises two stories. Wold Architects was the project architect.