Property Type

Arc Capital Acquires 100,166 SF Office Building in Downtown Austin

by Taylor Williams May 16, 2022

AUSTIN, TEXAS — Dallas-based investment firm Arc Capital Partners has acquired Westview, a 100,166-square-foot office building located at the corner of 12th and Guadalupe streets in downtown Austin. The recently renovated property was 93 percent leased at the time of sale. Amenities include a café, conference room, fitness center, bike lockers and a rooftop terrace. Andrew Levy, Todd Savage, Kelsey Shebay and Jeff Coddington of JLL represented the seller, Dallas-based Prescott Group, in the transaction. Jeff Sause, Casey Wenzel and Matthew Ctvrtlik, also with JLL, arranged acquisition financing on behalf of Arc Capital Partners.

May 16, 2022

Development Multifamily Seniors Housing Texas

SilverPoint, Journey Capital to Develop 101-Unit Seniors Housing Project in Fort Worth

by Taylor Williams May 16, 2022

FORT WORTH, TEXAS — Two Texas-based firms, SilverPoint Senior Living and Journey Capital, have unveiled plans for the development of Edition Senior Living of Fort Worth. Initial plans call for 101 assisted living and memory care units set in a 100,000-square-foot community on nine acres. There are also long-term plans to expand and add independent living facilities. This community will be the fifth collaboration between SilverPoint and Journey Capital. Construction is scheduled to begin toward the end of this year.

May 16, 2022

Acquisitions Loans Multifamily New York Northeast

Midwood Acquires Candela Tower Apartments in Manhattan for $102M

by Taylor Williams May 16, 2022

NEW YORK CITY — Locally based firm Midwood Investment & Development has acquired Candela Tower, a 158-unit apartment building in Manhattan’s West Village area, for $102 million. Named after its designer, Rosario Candela, the 20-story building was originally constructed in 1931 and includes 6,721 square feet of retail space. Cushman & Wakefield’s Adam Spies, Adam Doneger and Marcella Fasulo represented the seller, BlackRock, in the deal. MetLife Investment Management provided $63.5 million in acquisition financing to Midwood, which plans to upgrade the unit interiors and amenity spaces.

May 16, 2022

Leasing Activity Life Sciences Massachusetts Northeast

Integra Signs 100,000 SF Life Sciences Lease in Braintree, Massachusetts

by Taylor Williams May 16, 2022

BRAINTREE, MASS. — Global medical technology company Integra has signed a 100,000-square-foot life sciences lease at 400 Wood Road in Braintree, a southern suburb of Boston. Hilco Redevelopment Partners purchased the 156,000-square-foot property in 2019 and converted it into a life sciences facility. Integra plans to take occupancy of the new space, which it will use to manufacture surgical reconstruction devices, in 2025. The move is expected to bring about 150 new jobs to the local economy. Cushman & Wakefield represented both the tenant and landlord in the lease negotiations.

May 16, 2022

Acquisitions Multifamily New Jersey Northeast

Hudson Atlantic Arranges $13.5M Sale of Two Multifamily Properties in Montclair, New Jersey

by Taylor Williams May 16, 2022

MONTCLAIR, N.J. — Locally based brokerage firm Hudson Atlantic Realty has arranged the $13.5 million sale of two transit-served multifamily properties totaling 56 units and one commercial space in the Northern New Jersey community of Montclair. The properties include a 27-unit building at 10 Roosevelt Place and a 29-unit building with a commercial space at 47 N. Fullerton Ave. Both buildings were constructed in the early 1920s. Hudson Atlantic Realty represented the undisclosed seller in the transaction. The buyer was also not disclosed.

May 16, 2022

Acquisitions Connecticut Industrial Northeast Self-Storage

Berkshire Hathaway Brokers Sale of 310-Unit Self-Storage Facility in North Haven, Connecticut

by Taylor Williams May 16, 2022

NORTH HAVEN, CONN. — Berkshire Hathaway has brokered the sale of The Storage Depot, a 310-unit self-storage facility in North Haven, located north of Yale University. The property spans 33,260 net rentable square feet. Cameron Vale and Parker Sweet of Berkshire Hathaway represented the seller and secured the buyer, both of which were privately held companies that requested anonymity, in the transaction.

May 16, 2022

Leasing Activity New Jersey Northeast Restaurant Retail

Azarian Realty Signs Two New Tenants at Northern New Jersey Shopping Center

by Taylor Williams May 16, 2022

LIVINGSTON, N.J. — Azarian Realty Co. has signed two new tenants to leases at Livingston Town Center, a 65,000-square-foot shopping center in Northern New Jersey. Spa concept Bleu Mirage Aesthetics has leased 1,886 square feet, and food and beverage user Mango Mango Dessert has leased 1,323 square feet. Kevin Pelio of Azarian Realty represented both parties in the first set of lease negotiations. Pelio and James Azarian represented both sides in the second deal.

May 16, 2022

Development Industrial Midwest Missouri

Kadean Construction Breaks Ground on 781,000 SF Spec Industrial Development in Metro Kansas City

by Kristin Harlow May 16, 2022

LEE’S SUMMIT, MO. — Kadean Construction has broken ground on Lee’s Summit Commerce Center, a three-building speculative industrial development totaling 781,000 square feet. Located in the Kansas City suburb of Lee’s Summit, the 75-acre project will feature clear heights ranging from 32 to 36 feet. Scannell Properties is the developer and Newmark Zimmer is marketing the project for lease. An undisclosed tenant has preleased 215,730 square feet of Building A, which will span 430,000 square feet and is slated for completion by the end of this year. Building B will total 238,000 square feet, while Building C will span 113,000 square feet. Completion of all buildings is scheduled for the first quarter of 2023.

May 16, 2022

Acquisitions Illinois Industrial Midwest

Avison Young Brokers Sale of 704,270 SF Industrial Portfolio Across Multiple States

by Kristin Harlow May 16, 2022

CHICAGO — Avison Young has brokered the sale of a 21-property industrial portfolio totaling 704,270 square feet for an undisclosed price. The properties are located in markets such as Chicago, Atlanta, Memphis, Columbus, Long Island and Philadelphia. Erik Foster and Mike Wilson of Avison Young’s Chicago office represented the sellers, institutional investors advised by J.P. Morgan Global Alternatives and Realterm. Biynah Partners was the buyer.

May 16, 2022

Acquisitions Midwest Office Ohio

Industrial Commercial Properties Acquires 235,000 SF Former Plain Dealer Building in Cleveland

by Kristin Harlow May 16, 2022

CLEVELAND — Industrial Commercial Properties (ICP) has acquired a 235,000-square-foot Class A office building in downtown Cleveland for an undisclosed price. Built by The Plain Dealer Publishing Co. in 2001 for its newspaper staff, the property is located at 1801 Superior Ave. within the city’s Superior Arts District. The building has been marketed for multi-tenant use in more recent years. Rob Roe of JLL represented the seller, Advance Ohio, an affiliate of The Plain Dealer Publishing Co. ICP has been diversifying its portfolio over the last few years to include office, retail and mixed-use.

May 16, 2022

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