Property Type

Factory Building Stores Signs 167,794 SF Industrial Lease in Lockhart, Texas

by Taylor Williams February 24, 2023

LOCKHART, TEXAS — Factory Building Stores, a distributor of home appliances, has signed a 167,794-square-foot, full-building industrial lease at Lockhart 130 Industrial Park in Central Texas. The rear-load building, which is slated for a fourth-quarter completion, will feature 32-foot clear heights and 37 dock doors. Omar Nasser of AQUILA Commercial represented the landlord, Titan Development, in the lease negotiations. Davis Bass and Geoff Hangartner of HPI Real Estate Services & Investments represented the tenant. Lockhart 130 Industrial Park will ultimately comprise four buildings on a 45.1-acre site.

February 24, 2023

Acquisitions Industrial Texas

Partners Real Estate Negotiates Sale of 37,221 SF Warehouse in Victoria, Texas

by Taylor Williams February 24, 2023

VICTORIA, TEXAS — Partners Real Estate, the investment and brokerage firm formerly known as NAI Partners, has negotiated the sale of a 37,221-square-foot warehouse in Victoria, located roughly midway between Houston and Corpus Christi. Chris Caudill of Partners represented the buyer, Waste Management of Texas Inc., which also plans to occupy the facility, in the transaction. Nancy Garner of Woolson Real Estate Inc. represented the seller, Stallion Oilfield Services Ltd.

February 24, 2023

Industrial Loans New Jersey Northeast

Greek Development Receives $50M Permanent Loan for Southern New Jersey Industrial Facility

by Taylor Williams February 24, 2023

LOGAN TOWNSHIP, N.J. — Greek Development has received a $50 million permanent loan for Logan North Industrial Park, a 3.2 million-square-foot development in Southern New Jersey. Greek Development, which partnered with Advance Realty Investors on Logan North Industrial Park, is currently underway on the third phase of construction. The transaction allows Greek Development to apply long-term debt to Buildings A and F, which are leased to SEKO Logistics and LaserShip Logistics, respectively. An undisclosed life insurance company provided the financing, which retires the original construction loan from Wells Fargo. Michael Klein, Jim Cadranell, Gregory Nalbandian and Ryan Carroll of JLL arranged the debt.

February 24, 2023

Affordable Housing Loans Multifamily New York Northeast

KeyBank Provides $10.6M in Financing for Affordable Housing Complex in Perry, New York

by Taylor Williams February 24, 2023

PERRY, N.Y. — KeyBank has provided $10.6 million in financing for the acquisition and rehabilitation of Silver Lake Meadows, a 52-unit affordable housing complex in Perry, about 50 miles east of Buffalo. Silver Lake Meadows comprises seven buildings that house one- and two-bedroom units that are reserved for renters earning up to 30, 50 and 60 percent of the area median income. John-Paul Vachon and Kate de la Garza of KeyBank originated the financing package, which includes $5.4 million in Low-Income Housing Tax Credit equity and a $5.5 million construction loan. The sponsor is a partnership between locally based nonprofit Wyoming County Community Action Inc. and developer Rochester’s Cornerstone Group.

February 24, 2023

Leasing Activity New York Northeast Office

Metropolis Group Inc. Signs 12,700 SF Office Sublease at 120 Broadway in Manhattan

by Taylor Williams February 24, 2023

NEW YORK CITY — Construction consulting firm Metropolis Group Inc. has signed a 12,700-square-foot office sublease at 120 Broadway in Manhattan’s Financial District. Metropolis Group signed a six-year deal to relocate from 22 Cortlandt Street to the 27th floor of the 40-story building, a space that was previously occupied by nonprofit health organization Village Care. Michael Berman of JLL represented Metropolis Group in the lease negotiations. David Lebenstein and Frank Centro of Cushman & Wakefield represented Village Care. Silverstein Properties owns the building.

February 24, 2023

Leasing Activity New York Northeast Restaurant Retail

The French Workshop Opens 3,750 SF Bakery in Wantagh, New York

by Taylor Williams February 24, 2023

WANTAGH, N.Y. — The French Workshop has opened a 3,750-square-foot artisanal bakery and café at Willow Wood Shopping Center in the Long Island community of Wantagh. Robert Delavale of the Breslin Realty represented the landlord in the lease negotiations on an internal basis. Cary Fabrikant, also with Breslin Realty, represented the tenant. Other tenants at the center include Starbucks, Petco and Jovia Financial Credit Union.

February 24, 2023

Acquisitions Healthcare New Jersey Northeast

NAI Fennelly Negotiates Sale of 3,400 SF Medical Office Building in Hamilton, New Jersey

by Taylor Williams February 24, 2023

HAMILTON, N.J. — NAI Fennelly has negotiated the sale of a 3,400-square-foot medical office building in Hamilton, located outside of Trenton in Mercer County. According to LoopNet Inc., the property at 2131 Route 33 was originally built in 1985. Matt Fennelly of NAI Fennelly represented the seller, Advanced Family Dentistry LLC, in the transaction. Stephen Kaplan of Keller Williams represented the buyer, an undisclosed private investor.

February 24, 2023

Acquisitions Michigan Midwest Retail

Dick’s Sporting Goods to Acquire Moosejaw

by Kristin Harlow February 24, 2023

MADISON HEIGHTS, MICH. AND PITTSBURGH — Dick’s Sporting Goods has agreed to acquire outdoor retailer Moosejaw from Walmart. Founded in Michigan in 1992, Moosejaw operates brick-and-mortar locations in Arkansas, Colorado, Illinois, Kansas, Michigan and Missouri, in addition to its e-commerce platform. “We believe there’s potential to grow the Moosejaw business and provide compelling experiences and an expanded product assortment to its millions of loyal customers,” says Todd Spaletto, senior vice president of Pittsburgh-based Dick’s and president of the company’s specialty outdoor retailer, Public Lands. Moosejaw CEO Eoin Comerford will stay on following the acquisition, reporting to Spaletto. The deal is expected to close in March 2023.

February 24, 2023

Illinois Leasing Activity Midwest Office

BearingPoint Relocates Chicago Office to The Mart

by Kristin Harlow February 24, 2023

CHICAGO — BearingPoint, an independent management and technology consultancy firm, has signed a 12,000-square-foot office lease at The Mart located at 222 Merchandise Mart Plaza in Chicago’s River North. BearingPoint is headquartered in Europe and has invested heavily in its international expansion, including Chicago, which doubles as the firm’s U.S. hub. BearingPoint moved its Chicago office from another location in River North. The new office consists of individual workstations, a large café and lounge, two conference rooms, private work areas and multiple collaboration areas. Connor Kerr and Stephen Scott of Savills represented BearingPoint. Vornado Realty Trust owns The Mart, which rises 25 stories and is undergoing a $60 million renovation. Plans call for a new 27,000-square-foot amenity space and conference center, a second 23,500-square-foot gym and a lounge. Completion is slated for late 2023.

February 24, 2023

Indiana Leasing Activity Midwest Office

Temco Logistics Signs 37,580 SF Office Lease in New Haven, Indiana

by Kristin Harlow February 24, 2023

NEW HAVEN, IND. — Temco Logistics has signed a 37,580-square-foot office lease at 10651 Rose Ave. in New Haven, just east of Fort Wayne. Bill Drinkall and Chad Voglewede of Bradley Co. represented the landlord, Cedar CDT LLC. Pomona, Calif.-based Temco Logistics delivers and installs home goods.

February 24, 2023

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