Property Type

JLL Negotiates Sale of 576,047 SF Corner Ridge Crossing Industrial Park in San Antonio

by Taylor Williams June 6, 2022

SAN ANTONIO — JLL has negotiated the sale of Corner Ridge Crossing, a 576,047-square-foot industrial park on San Antonio’s east side. Built in 2020, the property comprises four industrial buildings: one cross-dock, one front-load and two rear-load buildings. Each building has 28- to 32-foot clear heights, 28- to 60-foot dock high doors and truck court depths ranging from 130 to 210 feet. Trent Agnew, Dustin Volz, Dom Espinosa, Josh Villarreal and Zach Riebe of JLL represented the seller, Houston-based Hines, in the transaction. Global investment firm KKR acquired the development for an undisclosed price.

June 6, 2022

Acquisitions Florida Restaurant Retail Southeast

FrostPoint Capital Acquires Bridgewater Commons Shopping Center in Orlando for $9.9M

by Amy Works June 6, 2022

ORLANDO, FLA. — FrostPoint Capital has purchased Bridgewater Commons, a shopping center in Orlando, from Fort Lauderdale, Fla.-based HS Capital for $9.9 million. Winn-Dixie anchors the 62,460-square-foot retail center, which is shadow-anchored by a CVS/pharmacy outparcel that was not part of the transaction. Other tenants include Subway, Avalon Dance Studio, Two Guys Pizzeria, Amigos Barbershop, New Shang Hai Restaurant, Winn-Dixie Liquors and Greenberg Dental. Kirk Olson and Drew Kristol of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the West Palm Beach, Fla.-based buyer in the deal.

June 6, 2022

Acquisitions Multifamily Texas

Newmark Brokers Sale of 309-Unit Alamo Park Apartments in San Antonio

by Taylor Williams June 6, 2022

SAN ANTONIO — Newmark has brokered the sale of Alamo Park, a 309-unit apartment community in northeast San Antonio. The property features one- and two-bedroom units with an average size of 658 square feet. Amenities include a pool, fitness center, volleyball court and outdoor grilling and dining areas. Jim Young, Matt Michelson and Chase Easley of Newmark represented the seller, Austin-based Achieve Investment Group, in the transaction. New York-based River Rock Capital purchased the asset for an undisclosed price and plans to implement a value-add program. Alamo Park was 94 percent occupied at the time of sale.

June 6, 2022

Industrial Leasing Activity Texas

DSV Air & Sea Signs 142,685 SF Industrial Lease in El Paso

by Taylor Williams June 6, 2022

EL PASO, TEXAS — DSV Air & Sea, a global logistics firm based in Denmark, has signed a 142,685-square-foot industrial lease at 12230 Paseo Del Este Blvd. in El Paso. The space is located within Building 2 of El Paso Logistics Park, a 59-acre development by Kansas City-based VanTrust Real Estate. PSRBB Industrial Group designed Phase I of the project, which was completed in September 2021, and Jordan Foster Construction served as the general contractor. Bill Caparis and Arturo De la Mora of CBRE represented the landlord in the lease negotiations. Chad McCleskey, also with CBRE, represented the tenant.

June 6, 2022

Acquisitions Multifamily Texas

Vista Investment Group Acquires 122-Unit Multifamily Property in Austin

by Taylor Williams June 6, 2022

AUSTIN, TEXAS — Southern California-based Vista Investment Group has acquired SoCo Apartments, a 122-unit multifamily property in Austin. Built in 2004, the property offers one, two- and three-bedroom units that are housed across 16 two-story buildings. Amenities include a pool, clubhouse, fitness center, coffee bar and picnic and grilling areas. The new ownership plans to invest in capital improvements to unit interiors, building exteriors and amenity spaces. Will Balthrope, Jordan Featherston and Kent Myers of Institutional Property Advisors, a division of Marcus & Millichap, represented the undisclosed seller in the transaction.

June 6, 2022

Acquisitions Affordable Housing Multifamily New Jersey Northeast

Greystone Provides $74.3M in Agency Financing for Newark Affordable Housing Portfolio

by Taylor Williams June 6, 2022

NEWARK, N.J. — Greystone has provided $74.3 million in Fannie Mae financing for a portfolio of 17 affordable housing properties totaling 574 units in Newark. The financing comprises five separate loans, all of which carry 10-year terms and 30-year amortization schedules. The properties range in size from nine to 108 units. Some of the assets are reserved for renters earning 60 percent or less of the area median income (AMI), while others feature an income restriction threshold of 80 percent of AMI. Hope Curtis of Greystone originated the financing. The borrower(s) were not disclosed.

June 6, 2022

Industrial Leasing Activity Massachusetts Northeast

Ambri Signs 140,000 SF Build-to-Suit Industrial Lease in Milford, Massachusetts

by Taylor Williams June 6, 2022

MILFORD, MASS. — Ambri, a provider of renewable energy storage solutions, has signed a 140,000-square-foot lease to open a build-to-suit manufacturing facility in Milford, located in the southern central part of the state. The facility will be located within Quarry Square, a retail center that is being redeveloped into an industrial flex property. Steve Clancy and Danielle Simbliaris of CBRE represented the landlord, R.J. Kelly, in the lease negotiations. Chris Scott of Dallas-based Lincoln Property Co. represented the tenant.

June 6, 2022

Acquisitions Industrial New Jersey Northeast

CenterPoint Acquires 57,731 SF Industrial Building in Fairfield, New Jersey

by Taylor Williams June 6, 2022

FAIRFIELD, N.J. — Chicago-based investment firm CenterPoint Properties has acquired a 57,731-square-foot industrial building in the Northern New Jersey community of Fairfield. The undisclosed tenant will continue to lease back the space, which is situated on a 4.3-acre site. Eric Lewin and Joe Manganaro of Team Resources brokered the deal, which traded off-market.

June 6, 2022

Acquisitions New Jersey Northeast Retail

Jeffery Realty Arranges Sale of 30,000 SF Shopping Center in Willingboro, New Jersey

by Taylor Williams June 6, 2022

WILLINGBORO, N.J. — New Jersey-based brokerage firm Jeffery Realty has arranged the sale of Willingboro Town Center, a 30,000-square-foot shopping center in Southern New Jersey. The property was built in 2006 and is located at 4376 Route 130. Shane Wierks of Jeffery Realty represented the undisclosed seller and procured the buyer, a private investor, in the transaction.

June 6, 2022

Leasing Activity Northeast Pennsylvania Retail

Planet Fitness to Open 16,369 SF Gym in Matamoras, Pennsylvania

by Taylor Williams June 6, 2022

MATAMORAS, PA. — Planet Fitness will open a 16,369-square-foot gym at Westfall Town Center, a 115,360-square-foot shopping center in Matamoras, located near the confluence of the New Jersey-New York-Pennsylvania border. The opening is slated for this fall. A 73,000-square-foot ShopRite grocery store anchors the center. Derek Zerfass and Scott Horner of Colliers represented the landlord, Chicago-based CenterPoint Properties, in the lease negotiations. Royal Properties represented the tenant.

June 6, 2022

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