Property Type

Sueba USA Opens 303-Unit San Tierra Apartments in Metro Houston

by Taylor Williams July 14, 2022

KATY, TEXAS — Locally based developer Sueba USA has opened San Tierra, a 303-unit apartment community located in the western Houston suburb of Katy. San Tierra offers one-, two- and three-bedroom units that range in size from 480 to 2,087 square feet. Residences are furnished with stainless steel appliances, granite countertops, individual washers and dryers and private balconies/patios. The amenity package consists of multiple pools, a spa, outdoor cabanas with grilling areas, a 24-hour fitness center and a coffee bar. Rents start at $1,150 per month.

July 14, 2022

Loans Multifamily Texas

Berkadia Arranges $52M Loan for Refinancing of Austin Multifamily Property

by Taylor Williams July 14, 2022

AUSTIN, TEXAS — Berkadia has arranged a $52 million bridge loan for the refinancing of Iron Rock Ranch, a 300-unit multifamily property in Austin. Iron Rock Ranch consists of 84 townhomes and 216 apartments in one-, two- and three-bedroom formats. Amenities include two pools with outdoor lounging areas, a fitness center, pet park and a basketball court. Andy Hill and Tyler Nowlin of Berkadia arranged the four-year, nonrecourse loan through J.P. Morgan Asset Management on behalf of the borrower, Houston-based Domain Communities, which purchased the asset in late 2019.

July 14, 2022

Acquisitions New Jersey Northeast Office

Cantor Fitzgerald Acquires Northern New Jersey Office Building for $131.7M

by Taylor Williams July 14, 2022

NUTLEY, N.J. — Global investment firm Cantor Fitzgerald has acquired 200 Metro Boulevard, a 300,000-square-foot office building in the Northern New Jersey community of Nutley, for $131.7 million. The building is located within Prism Capital Partners’ 116-acre ON3 campus, which is a redevelopment of the former North American headquarters site of Swiss pharmaceutical company Hoffman-La Roche. The building also serves as the U.S headquarters of Japanese pharmaceutical giant Eisai Inc., which relocated some 1,200 employees to the ON3 campus in 2020. Eastdil Secured represented Prism Capital Partners in the sale. Other tenants at ON3 include Quest Diagnostics, Ralph Lauren Corp., the Hackensack-Meridian School of Medicine and Seton Hall University’s Graduate College of Nursing & School of Health & Medical Sciences.

July 14, 2022

Acquisitions New Jersey Northeast Retail

Stan Johnson Co. Arranges $56M Sale of Central New Jersey Shopping Center

by Taylor Williams July 14, 2022

FRANKLIN PARK, N.J. — Oklahoma-based brokerage firm Stan Johnson Co. has arranged the $56 million sale of Franklin Towne Center, a 138,000-square-foot shopping center in Central New Jersey. Grocer Stop & Shop anchors the center, which was built on 14 acres in 1990. Isaiah Harf of Stan Johnson Co. represented the seller, a New York-based developer, in the transaction. The buyer was a New Jersey-based investment firm. Both parties involved in the deal requested anonymity.

July 14, 2022

Acquisitions New York Northeast Retail

Northeast Capital Group Buys Shopping Center in West Haverstraw, New York, for $26.5M

by Taylor Williams July 14, 2022

WEST HAVERSTRAW, N.Y. — An affiliate of locally based investment and management firm Northeast Capital Group has purchased Samsondale Plaza, a 156,185-square-foot shopping center in West Haverstraw, about 35 miles north of New York City, for $26.5 million. Anchored by grocer Stop & Shop, the property also houses tenants such as Dollar Tree, Advance Auto, Sports Clips and Sally Beauty Supply. Jose Cruz, J.B. Bruno, Steve Simonelli, Michael Oliver, Kevin O’Hearn, Austin Pierce and Andrew Scandalios of JLL represented the seller, a joint venture between investment and development firm Mark Holdings and Connecticut-based Paragon Realty Group, in the transaction.

July 14, 2022

Leasing Activity New York Northeast Office

JLL Negotiates 60,000 SF Office Headquarters Lease in Midtown Manhattan

by Taylor Williams July 14, 2022

NEW YORK CITY — JLL has negotiated a 60,000-square-foot office headquarters lease at 825 Seventh Ave. in Midtown Manhattan. Owned by a partnership between Edward J. Minskoff Equities and Vornado Realty Trust (NYSE: VNO), the building spans 196,616 square feet. Matthew Astrachan, Ellen Herman and Hale King of JLL represented the tenant, New Alternatives for Children, in the lease negotiations. Edward Riguardi of Vornado and Jeffrey Sussman of Edward J. Minskoff represented building ownership in conjunction with John Ryan III of Avison Young.

July 14, 2022

Industrial Leasing Activity Massachusetts Northeast

SGPS ShowRig Signs 49,524 SF Industrial Lease in Shrewsbury, Massachusetts

by Taylor Williams July 14, 2022

SHREWSBURY, MASS. — SGPS Showrig, a provider of entertainment equipment, has signed a 49,524-square-foot industrial lease in Shrewsbury, located outside of Worcester in the central part of the state. The space is located within Centech Park North, a 310,000 square-foot campus that is set to be delivered at the end of the year. Kevin Brawley, Stephen Woelfel, P.J. Foster, Kevin Hanna, Ovar Osvold and Wayne Spiegel of Colliers represented the landlord, Northbridge Partners, in the lease negotiations. Rhett Delk and Nate Heilbron of Cresa represented the tenant.

July 14, 2022

Development Florida Mixed-Use Office Retail Southeast Top Stories

Helm Equities Announces Plans for $300M Office Building in Miami’s Design District

by Katie Sloan July 14, 2022

MIAMI — Helm Equities has announced plans for Parterre 42, a $300 million office building that will occupy a full city block between NE 42nd and 43rd streets in Miami’s Design District. The 500,000-square-foot development will offer 80,000 square feet of functional outdoor space dispersed across each floor of the building with communal work tables, outdoor power and charging stations, and flexible furniture groupings. COOKFOX Architects designed the project. Additional amenities at the property, which features unobstructed views of Biscayne Bay and the downtown Miami skyline, will include an indoor-outdoor cafe, multi-level fitness center, bike and scooter storage, and valet parking alongside retail space. The project was designed to achieve LEED Gold and WELL Gold certifications with a dedicated outdoor air system and an all-electric HVAC system. “We worked with COOKFOX to turn the typical office building inside-out, incorporating massive amounts of functional outdoor space on every floor so that occupants of Parterre 42 feel like they are truly working in nature,” says Ayal Horovits, principal at Helm Equities. Paul Amrich, Neil King, Gordon Messinger and Camron Tallon of CBRE have been tapped to lease the project’s 320,000 square feet of office space. A timeline for construction was not announced. …

July 14, 2022

Market Reports Midwest Midwest Market Reports Office Ohio

Air Force Base Propels Dayton’s Office Market

by Kristin Harlow July 14, 2022

By Richard Meder, Colliers While office markets across the country have experienced a slow climb back to normalcy following COVID-19-related restrictions, the Dayton office market has found its strength in the Wright-Patterson Air Force Base (WPAFB). Though the Dayton office market around WPAFB experienced similar ebbs and flows as that of the rest of the country during the pandemic, business never stopped. For some in other markets, the lasting effects of this disruption to the office market remain unknown. Business leaders must decide whether to implement a remote work lifestyle into their employee regimen or make a push to get back to normal office life — for some companies it is considered a hybrid approach. For the tenants in the WPAFB submarket, however, there was never question. While many office tenants vacated their spaces out of uncertainty, defense contractors cautiously occupying office spaces at the WPAFB submarket almost singlehandedly helped Dayton remain upright during the pandemic. With the submarket almost entirely consisting of defense contractors, this type of defense contracting work was not allowed to stop with the rest of the world. Having to adhere to both local and federal guidelines, decision-making among defense contractors certainly slowed, but it never …

July 14, 2022

Development Multifamily Texas

Presidium Begins Leasing 340-Unit Multifamily Project in Fort Worth

by Taylor Williams July 13, 2022

FORT WORTH, TEXAS — Texas-based developer Presidium has begun leasing Presidium Berkshire, a 340-unit multifamily development located on the north side of Fort Worth. The 352,000-square-foot community is expected to be fully complete early next year. Units will feature stainless steel appliances, quartz-style countertops, private balconies/terraces, individual washers and dryers and built-in desks. Amenities will include a pool with splash pads, outdoor dining and grilling areas, a two-story fitness center with a yoga studio, a speakeasy-style bar, demonstration kitchen, coworking lounge and a dog park. Dallas-based O’Brien Architects designed Presidium Berkshire. Rents start at $1,480 per month for a studio apartment.

July 13, 2022

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