CONROE, TEXAS — Four retailers have signed leases totaling 14,880 square feet at The Grove at Harper’s Preserve, a 21,500-square-foot center in Conroe, approximately 40 miles north of Houston. Mayweather Boxing + Fitness, Thrive Massage, Pet Supplies Plus and Heartland Dental will be the newest tenants to join the property, which was developed by Gulf Coast Commercial Group. Other tenants include Dutch Bros. Coffee, AT&T, Freebirds World Burrito, Jersey Mike’s Subs and Cookie Co. Scheduled to open this summer, Mayweather and Thrive will occupy 2,300 and 2,380 square feet, respectively. Ryan Chandler of The Retail Connection represented Mayweather in the lease negotiations. Pet Supplies Plus, which was represented by Lunden McGill of Baker Katz, will occupy 6,000 square feet at the center. Heartland Dental will develop a 4,200-square-foot freestanding building at the property’s second pad site. Shireen Owlia of NewQuest Properties represented Heartland. Anderson Smith and Brett Levinson of Main Street Commercial Partners represented the landlord in all the lease negotiations.
LAFAYETTE, IND. — JLL Capital Markets has provided an $18.2 million Freddie Mac loan for the acquisition of Cambridge Estates, a 358-unit affordable housing community in Lafayette. About 41 percent of the units are covered by a long-term, project-based Section 8 Housing Assistance Payments contract. Constructed between 1973 and 1977, Cambridge Estates includes 40 buildings and is located at 3605 Brandywine Court. Brock Yaffe, Tony Nargi and Nelson Almond of JLL originated the fixed-rate loan on behalf of the borrower, Brikwell.
ZION, ILL. — O2C Brands, a Chicago-based designer and manufacturer of consumer products, has signed a 75,036-square-foot industrial lease in Zion, a city in Northeast Illinois. O2C’s products are sold in brick-and-mortar, e-commerce, healthcare, international and promotional channels under five different brands: O2COOL, Treva, LunchBots, Ecovessel and Ukonserve. O2C Brands retained Entre Commercial Realty in early 2022 for site selection services to support its growing business and distribution requirements. Dan Benassi and Sam Deihs of Entre represented the tenant in its lease at 451 Trumpet Road in Zion. The facility, constructed in 2009, features a clear height of 30 feet, eight exterior truck docks and an office buildout. Pat Hake, Ned Frank and Chris Volkert of Colliers represented the landlord, LINK Logistics.
PORTAGE, IND. — Quantum Real Estate Advisors Inc. has brokered the $4 million sale of a 26,500-square-foot retail center in Portage, a city in Northwest Indiana. Built in the mid-2000s, the property was 89 percent leased at the time of sale to tenants such as Rush Physical Therapy, Indiana Farm Bureau and Edible Arrangements. Chad Firsel of Quantum represented the seller, an Illinois-based developer. A Colorado-based private investor completing a 1031 exchange was the buyer.
PORTLAND, ORE. — BKM Capital Partners has purchased Airport Business Center in Portland for $37.3 million. The 11-building light industrial portfolio is located at 6756 NE Alderwood Road and 6620-7040 NE 79th Court in Portland’s Columbia industrial corridor. The 228,518-square-foot business park contains 41 units with an average size of 5,600 square feet. The spaces were 92 percent occupied at the time of the sale. BKM acquired the asset through a joint venture partnership with TerraCore Capital.
LOS ANGELES — Selective Eton Nordhoff LLC has acquired a 48,550-square-foot industrial property in the Chatsworth and Canoga Park communities of Los Angeles. Though the purchase price was not disclosed, the asset was listed at nearly $10.5 million and sold for above asking price. The multi-tenant industrial property was built in 1977. It has largely remained the same since that time, save for cosmetic updates over the years. Arthur Pfefferman of Coldwell Commercial Quality Properties represented both the buyer and the seller.
CARLSBAD, CALIF. — PSRS has arranged $5.9 million in financing for the acquisition of a 32,000-square-foot industrial property in Carlsbad. The deal closed in 35 days to meet the borrower’s 1031 exchange deadline. The non-recourse loan features a five-year term with a 5.55 percent interest rate and a 30-year amortization. Ryan Frankman and Ari Zeen of PSRS arranged the financing through an insurance company.
DENVER — McCarthy Building Cos. has leased a 13,000-square-foot space at One Platte in Denver. The newly developed, 250,402-square-foot office building is located at 1701 Platte St. The new space will allow McCarthy to expand and relocate within the Denver market. The company has been an active player in the market since the mid-1970s. JLL’s David Shirazi, Janessa Biller and Scott Wetzel represented McCarthy in the lease. Newmark represented the landlord, Shorenstein.
TUCSON, ARIZ. — Tahl Machine, which provides parts for mechanical and electronic equipment, has renewed its lease for 10,500 square feet of industrial space at Tucson Industrial Center. The space is located at 4151 E. Tennessee St., Suites 239 and 257 in Tucson. Cintya Denisse Angulo Garcia of Cushman & Wakefield | PICOR represented the landlord in this transaction.
NEW YORK CITY — Manhattan Mini Storage is underway on a self-storage redevelopment project on the Upper West Side that will add 1,200 units to the local supply. The company, which is owned by Missouri-based developer and operator StorageMart, plans to redevelop the site of the former CMX Cinema into a six-story self-storage building that offers 65,000 net rentable square feet of space. The project, which is slated for a 2024 completion, will also function as an addition to Manhattan Mini Storage’s existing facility at 420 E. 62nd St.