Property Type

BigShots Golf to Open 50,000 SF Entertainment Center in Grand Prairie, Texas

by Taylor Williams January 9, 2023

GRAND PRAIRIE, TEXAS — BigShots Golf, a Dallas-based, tech-driven sports entertainment concept, will open an approximately 50,000-square-foot center in Grand Prairie, located roughly midway between Dallas and Fort Worth. The site spans 12 acres and is located within the EpicCentral entertainment district. The space will house a two-story driving range with 80 interactive, climate-controlled tee boxes, as well as a 27-hole indoor putting course, a 7,500-square-foot private event space and a full restaurant and bar. The venue will be the third in Texas for BigShots Golf and the concept’s eighth location nationally.

January 9, 2023

Leasing Activity New York Northeast Office

NewsCorp. Signs 486,000 SF Office Lease Extension in Midtown Manhattan

by Taylor Williams January 9, 2023

NEW YORK CITY — NewsCorp. has signed a 486,000-square-foot office lease extension at 1211 Avenue of the Americas in Midtown Manhattan. Under the terms of the new lease, which goes into effect in December 2027, the media giant will remain at the 44-story, 2.2 million-square-foot building through 2042, with further extension options available thereafter. Timothy Dempsey, Mary Ann Tighe, Ken Rapp, Christopher Mansfield and Ariel Ball of CBRE represented NewsCorp. in the lease negotiations. Josh Kuriloff, Ethan Silverstein, Mitch Arkin and Heather Thomas of Cushman & Wakefield represented the landlord, Ivanhoe Cambridge, which plans to begin a capital improvement program later this year. The deal coincides with a 670,000-square-foot extension with Fox Corp., which is also part of the Murdoch family media empire, at 1211 Avenue of the Americas.

January 9, 2023

Acquisitions Healthcare Northeast Pennsylvania

CBRE Arranges $11.6M Sale of Medical Office Complex in Broomall, Pennsylvania

by Taylor Williams January 9, 2023

BROOMALL, PA. — CBRE has arranged the $11.6 million sale of Marple Commons, a three-building, 57,760-square-foot medical office complex in Broomall, a western suburb of Philadelphia. Stephen Marzullo, Adam Silverman and Stephen Kriz of CBRE represented the seller, Pennsylvania-based Hudson Cos., in the transaction. The buyer was Maryland-based Thomas Park Investments. Marple Commons was 98 percent leased at the time of sale to tenants such as Premier Orthopaedics, Children’s Hospital of Philadelphia, Main Line Healthcare, Kidney Care Specialists and Labcorp.

January 9, 2023

Industrial Leasing Activity New Jersey Northeast

AxleHire Signs 79,076 SF Industrial Lease in Carlstadt, New Jersey

by Taylor Williams January 9, 2023

CARLSTADT, N.J. — Third-party logistics provider AxleHire has signed a 79,076-square-foot industrial lease in the Northern New Jersey community of Carlstadt. The property at 100 Industrial Road totals 142,815 square feet and features a clear height of 21 feet, as well as 110-foot truck court depths and ample onsite parking. Scott Perkins, Chris Todd and William Ericksen of NAI James E. Hanson represented the undisclosed landlord in the lease negotiations. Robin Dodson, Stephen Elman and John McManus of Cushman & Wakefield represented AxleHire.

January 9, 2023

Acquisitions Development Multifamily New York Northeast

Stav Equities Negotiates $9M Sale of Multifamily Development Site in Brooklyn

by Taylor Williams January 9, 2023

NEW YORK CITY — Locally based brokerage firm Stav Equities has negotiated the $9 million sale of a multifamily development site located at 28 Herbert St. in Brooklyn’s Williamsburg neighborhood. The site is approved for the development of a 15-unit apartment building with ground-floor retail space and nine below-grade parking spots. Jacob Stavsky of Stav Equities brokered the deal in conjunction with Andrew Levine, Josh Lipton and Jax Hindmarch of Invictus Property Advisors. The buyer and seller were not disclosed.

January 9, 2023

Leasing Activity New York Northeast Retail

The Container Store to Open 15,676 SF Store in Huntington Station, New York

by Taylor Williams January 9, 2023

HUNTINGTON STATION, N.Y. — The Container Store will open a 15,676-square-foot store at Huntington Shopping Center on Long Island. The retailer joins REI and Whole Foods Market as anchor tenants at the center, which is owned by Federal Realty Investment Trust and is currently undergoing a $75 million repositioning. Furniture retailer LoveSac also recently signed a 1,412-square-foot showroom lease at Huntington Shopping Center, which has also received commitments from restaurants Burger Village (2,756 square feet) and Just Salad (2,382 square feet).

January 9, 2023

Acquisitions Georgia Multifamily Southeast

GREA Arranges Sale of 66-Unit Cielo at Lanier Apartment Community Near Atlanta

by John Nelson January 9, 2023

GAINESVILLE, GA. — Global Real Estate Advisors (GREA) has brokered the $9.1 million sale of Cielo at Lanier Apartments, a multifamily community located at 3656 Browns Bridge Road in Gainesville, roughly 50 miles northeast of Atlanta. Built in 1985, the property features 66 units in one- and two-bedroom layouts. Taylor Brown and John A. Topping Jr. of GREA represented the seller, Zavala Capital, in the transaction. Ryan Haase of Magnitude CRE Capital Advisory acquired the property and plans to continue interior renovations.

January 9, 2023

Development Illinois Industrial Midwest

Phoenix Investors Completes 1 MSF Industrial Redevelopment Project in Normal, Illinois

by Kristin Harlow January 9, 2023

NORMAL, ILL. — An affiliate of Phoenix Investors has completed a two-phase redevelopment project totaling 1 million square feet in North Normal Industrial Park in Normal, about 38 miles southeast of Peoria. Phoenix acquired the 92-acre property in June 2020 from Wildwood Industries Inc. The original 500,000-square-foot industrial facility served as Phase I of the project and now features 84 exterior docks and cross-dock capabilities. Phase II included a 500,000-square-foot addition with 50 exterior docks and cross-dock capabilities. Rivian will occupy both facilities. PJ Hoerr served as general contractor.

January 9, 2023

Loans Midwest Multifamily Wisconsin

Berkadia Provides $29M Acquisition Loan for Multifamily Property in Madison

by Kristin Harlow January 9, 2023

MADISON, WIS. — Berkadia has provided a $29 million Freddie Mac loan for the acquisition of Country Meadows, a 466-unit multifamily property in Madison. Located at 6840 Schroeder Road and built in 1972, the garden-style community features amenities such as a pool, sun deck and two tennis courts. Jason Bond and Joel Kirstein of Berkadia structured the 10-year loan on behalf of the borrower, Illinois-based Bender Cos.

January 9, 2023

Acquisitions Healthcare Indiana Midwest

Montecito Medical Acquires 34,369 SF Medical Office Building in Indianapolis

by Kristin Harlow January 9, 2023

INDIANAPOLIS — Montecito Medical has acquired a 34,369-square-foot medical office building in Indianapolis. The tenant is the Midwest Center for Joint Replacement, which uses the facility for orthopedic clinical care, orthopedic surgeries and physical therapy. The group maintains an additional location in Bloomington, Ind. The seller and sales price were not provided.

January 9, 2023

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