Property Type

JLL Arranges Sale of 376,218 SF Industrial Portfolio in Suburban Twin Cities

by Kristin Harlow January 5, 2023

ROSEVILLE, OAKDALE AND WOODBURY, MINN. — JLL Capital Markets has arranged the sale of a seven-building industrial portfolio totaling 376,218 square feet in suburban Twin Cities for an undisclosed price. Five of the buildings are located in Oakdale, while one is in Woodbury and one is in Roseville. The portfolio is 96 percent leased to 18 tenants. Colin Ryan, David Berglund and Erin Fitzgerald of JLL represented the seller, Link Logistics, and procured the buyer, Minneapolis-based Biynah Industrial Partners. Matthew Schoenfeldt, Scott Loving and Lucas Borges of JLL arranged acquisition financing.

January 5, 2023

Industrial Leasing Activity Texas

Belfor USA Signs 14,385 SF Lease Renewal at Industrial Flex Property in Fort Worth

by Taylor Williams January 5, 2023

FORT WORTH, TEXAS — Disaster recovery and property restoration firm Belfor USA Group has signed a 14,385-square-foot lease renewal at RiverPark Business Center, an industrial flex property in Fort Worth. Michael Spain of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as SCG River Park Business LP, in the lease negotiations. Caleb McCoy of JLL represented the tenant.

January 5, 2023

Loans Michigan Midwest Multifamily

Bernard Financial Group Arranges $29.2M Construction Loan for Multifamily Project in Troy, Michigan

by Kristin Harlow January 5, 2023

TROY, MICH. — Bernard Financial Group (BFG) has arranged a $29.2 million loan for the construction of a 200-unit multifamily project in Troy. Dennis Bernard and Joshua Bernard of BFG arranged the loan through Old National Bank. The loan terms and name of the borrower were not provided.

January 5, 2023

Acquisitions Industrial Midwest Ohio

DWG Capital Partners Acquires 68,650 SF Industrial Facility in Metro Cleveland in Sale-Leaseback

by Kristin Harlow January 5, 2023

PAINESVILLE, OHIO — In a sale-leaseback transaction, DWG Capital Partners Inc. has acquired a 68,650-square-foot industrial facility in the Cleveland suburb of Painesville. The purchase price was undisclosed. T&T Machine Inc., a specialized manufacturer of machine parts for the healthcare, engineering, automotive, food & beverage and military sectors, was the seller. Built in 1999, the property is located at 892 Callendar Blvd. within the Blackbrook Road Industrial Park. Mitchell Hoffman of Raven Oak represented the seller. Dugan Kelley of Kelley Clarke PC and Mark Atkins of Reafco represented DWG Capital Partners, which is led by Judd Dunning.

January 5, 2023

Acquisitions Connecticut Multifamily Northeast

Harbor Group, Cammeby’s Acquire 932-Unit Apartment Community in Manchester, Connecticut

by Taylor Williams January 5, 2023

MANCHESTER, CONN. — A joint venture between Virginia-based investment firm Harbor Group International and Cammeby’s International Group has acquired The Pavilions, a 932-unit apartment community in Manchester, an eastern suburb of Hartford. Built in phases between 1990 and 1992, the property offers one-, two- and three-bedroom units. The amenity package comprises multiple pools, fitness centers, resident lounges and tennis courts, as well as outdoor grilling and dining areas, a sand volleyball court and a dog park. The new ownership plans to invest $21.2 million in upgrades to unit interiors, common areas, amenity spaces and building exteriors.

January 5, 2023

Connecticut Development Multifamily Northeast

Urby Nears Completion of 176-Unit Apartment Complex in Stamford, Connecticut

by Taylor Williams January 5, 2023

STAMFORD, CONN. — Urby, a joint venture between Ironstate Development and Brookfield Properties, is nearing completion of a 176-unit apartment complex in Stamford, located in the southern coastal part of Connecticut. Designed by Concrete Amsterdam, the project represents the latest phase of Stamford Urby, a development that will ultimately consist of 641 units across 11 buildings. Residences are available in studio, one- and two-bedroom formats, with rents starting at approximately $2,000 per month for a studio. Amenities include a pool, outdoor grilling and dining areas, a fitness center, dog park, central courtyard and a coworking lounge. The first move-ins will begin in February.

January 5, 2023

Loans Multifamily New Jersey Northeast

JLL Arranges $20M Construction Loan for Northern New Jersey Multifamily Project

by Taylor Williams January 5, 2023

MILLBURN, N.J. — JLL has arranged a $20 million construction loan for a 53-unit multifamily project in the Northern New Jersey community of Millburn. Units will come in one- and two-bedroom floor plans and will be furnished with stainless steel appliances, quartz countertops and individual washers and dryers. Amenities will include a fitness center, private event room and a clubhouse with a wet bar. Jon Mikula and Salvatore Buzzerio of JLL arranged the three-year, floating-rate loan through Provident Bank. The borrower was a partnership between Eagle Cliff Real Estate Partners and MRY Associates. Completion is slated for early 2024.

January 5, 2023

Acquisitions Industrial New York Northeast

GreyHill Group Acquires Western New York Industrial Property for $7.3M

by Taylor Williams January 5, 2023

FALCONER, N.Y. — New York-based investment firm GreyHill Group has acquired a 401,000-square-foot industrial property in the Western New York community of Falconer for $7.3 million. Orbis Corp. and Keywell Metals are the anchor tenants of the property, which is located at 2632 S. Work St. and features a clear height of 20 feet. The off-market deal traded at a price of approximately $18 per square foot. The seller and sales price were not disclosed.

January 5, 2023

Development Multifamily South Carolina Southeast

Aventon Breaks Ground on 394-Unit Apartment Community in Charleston

by John Nelson January 5, 2023

CHARLESTON, S.C. — Aventon Cos. has broken ground on Aventon Bees Ferry, a 394-unit apartment community located on a 30-acre site in Charleston’s West Ashley submarket. The development is the first project in South Carolina for the Raleigh-based developer. Situated near the intersection of Bees Ferry Road and Savannah Highway, Aventon Bees Ferry will feature one-, two- and three-bedroom apartments, as well as a community clubhouse with a fitness center and coworking spaces and two courtyards that will feature a resort-style pool, gaming lawn, pet spa and a dog park. Aventon expects to open Aventon Bees Ferry in early 2024. Other members of the development team include Watts Leaf Architects, Studio 5 Interiors Inc. and Thomas & Hutton.

January 5, 2023

Development Georgia Industrial Southeast

Stonemont Financial to Develop 903,200 SF Industrial Park in Locust Grove, Georgia

by John Nelson January 5, 2023

LOCUST GROVE, GA. — Stonemont Financial Group has purchased an infill, 113-acre site in Locust Grove with plans to develop a 903,200-square-foot industrial park. The development will break ground in the first quarter, with an expected completion of first-quarter 2024. Called Stonemont Park 75 South, the development will include three rear-load speculative warehouses ranging in sizes from 124,800 square feet to 538,720 square feet. Clear heights will vary from 32 feet to 40 feet, and the property will also include 316 trailer parking stalls and 612 car parking stalls, as well as 2,000 linear feet of frontage along I-75. Stonemont Park 75 South will sit along Highway 42 within Atlanta’s I-75 South industrial submarket. The design-build team will include Ware Malcomb (architect), Eberly & Associates (civil engineer) and Alston Construction (general contractor). Wilson Hull & Neal will serve as the leasing agent for the park on behalf of Stonemont Financial.

January 5, 2023

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