BAYTOWN, TEXAS — Marcus & Millichap has brokered the sale of a 6.1-acre industrial outdoor storage facility (IOS) in the eastern Houston suburb of Baytown. The building at 12825 Upland Way was completed in 2021 and was fully leased at the time of sale to EquipmentShare, a provider of construction solutions. Peter Bauman and Tivon Moffitt of Marcus & Millichap represented the seller, a REIT, in the deal. Nick Geaneotes and Derrick Dougherty of Marcus & Millichap procured the New York-based buyer. Both parties requested anonymity. Stephen Fillipo of Marcus & Millichap Capital Corp. arranged acquisition financing for the deal through a national credit union.
FRISCO, TEXAS — Veritex Community Bank will open a new office and retail branch in Frisco. The building will span 40,000 square feet, and Veritex will occupy the ground floor, while the remainder of the space will be leased to other tenants. Amenities will include a golf simulator and putting areas, a nod to the building’s proximity to the PGA of America’s headquarters campus. The building will also house a boardroom and training areas. Locally based firm Cawley Partners is leading development of the project. The general contractor, Scott + Reid, plans to begin construction before the end of the month. Completion is slated for early 2026.
UNION, N.J. — Inland Acquisitions, a division of Chicago-based investment firm The Inland Real Estate Group of Cos., has purchased Summit Court, a 393-unit apartment community located in the Northern New Jersey township of Union. The sales price was $131.5 million. Built in phases between 2018 and 2023, Summit Court comprises 210 one-bedroom units and 183 two-bedroom apartments that feature stainless steel appliances and private washers and dryers. Amenities include a pool, fitness center, outdoor lounge, game room with a billiards table, pet grooming room and outdoor grilling and dining stations. Jose Cruz, Mike Oliver, Steve Simonelli, Elizabeth DeVesty and Austin Pierce of JLL represented the seller, a joint venture between Fidelco Realty Group and Diversified Properties, in the transaction. Mark Cosenza negotiated the deal for Inland on an internal basis. M&T Realty Capital provided a $65.7 million Fannie Mae acquisition loan for the deal.
BANGOR, MAINE — Marcus & Millichap has brokered the $12.4 million sale of a 91,828-square-foot retail building in Bangor, Maine. BJ’s Wholesale Club occupies the building at 110 Longview Drive, which sits on a 13-acre site and was originally constructed in 2002 and renovated in 2015, according to LoopNet Inc. Adam Cohen and Brett Kilar of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
NEW YORK CITY — Locally based brokerage firm Brax Realty has arranged the $8.5 million sale of an eight-unit apartment building in the Williamsburg neighborhood of Brooklyn. According to LoopNet Inc., the building at 150 N. Ninth St. rises four stories and was originally constructed in 1910. Units at the property also recently underwent gut renovations and now feature modern finishes. Alan Stenson of Brax Realty brokered the deal. The buyer and seller were not disclosed.
FARMINGDALE, N.Y. — Chicago-based investment firm Venture One Real Estate has purchased a 50,043-square-foot industrial building in Farmingdale, located on Long Island. The building at 220 Sherwood Ave. features suites that range in size from 11,373 to 25,383 square feet, as well as four exterior docks, four drive-in doors and a 155-foot truck court. David Pennetta, Stephen Cadorette and Tom DeLuca of Cushman & Wakefield represented the undisclosed seller in the transaction.
MADISON, N.J. — Riker Danzig LLP has signed a 45,500-square-foot office headquarters lease in the Northern New Jersey community of Madison. The law firm is relocating from nearby Morristown to Giralda Farms, a 1.3 million-square-foot corporate campus. Marc Rosenberg of Cushman & Wakefield represented the tenant in the lease negotiations. Joshua Cohen and Bill Brown, also with Cushman & Wakefield, represented the landlord, a partnership between Bergman Real Estate Group and Eightfold Real Estate Capital.
CHULA VISTA, CALIF. — Walker & Dunlop has arranged an $81 million loan for the refinancing of Enclave Heritage Flats, a low-rise apartment complex in Chula Vista. Located at 1800 Santa Carolina Road, Enclave Heritage Flats offers 312 one-, two- and three-bedroom floor plans. Amenities at the pet-friendly community include a fitness center, resort-style swimming pool and movie screening theater. Gregory Richardson of Walker & Dunlop Capital Markets, along with Andrew Yaroma, Kimberly Schmitz and Terri Magnani of Walker & Dunlop Investment Partners, arranged the loan for the borrower, Baldwin and Sons LLC.
TUCSON, ARIZ. — Marcus & Millichap has arranged the sale of Courtyard by Marriott Airport Tucson, a hotel located at 25050 E. Executive Drive in Tucson. Terms of the transaction were not released. Built in 1988 and renovated in 2021, Courtyard Airport Tucson offers 149 guest rooms, an outdoor pool, a fitness center, business center, an on-site bistro and meeting space. The three-story hotel is located less than one mile from Tucson International Airport. Ebrahim Valliani and Michael Klar of Marcus & Millichap represented the undisclosed seller and secured the undisclosed buyer in the transaction. Allan Miller and Chris Gomes, also of Marcus & Millichap, assisted with the deal. Ryan Sarbinoff is the firm’s broker of record in Arizona.
EVANS, COLO. — Inland Mortgage Capital has originated and closed an $18.3 million nonrecourse bridge loan for a multifamily community in Evans. Located two miles from the University of Northern Colorado, the 192-unit property primarily serves as a student housing community. At the time of financing, the community was 86 percent leased. The undisclosed borrower plans to use the capital for interior and exterior renovations, including upgraded flooring, cabinets and appliances in each unit. All common area amenities will also be updated, including a new clubhouse, resort-style pool, pickleball court, 24-hour fitness center, an outdoor gaming area, two dog parks and a pet spa.