Property Type

CapRock Partners Sells First Phase of 1.5 MSF Tropical Logistics Complex in North Las Vegas

by Amy Works May 3, 2022

NORTH LAS VEGAS, NEV. — CapRock Partners has completed the disposition of CapRock Tropical Logistics Phase I, a recently completed core industrial logistics facility in North Las Vegas. Terms of the sale were not released. Phase I consists of two Class A warehouse buildings totaling 1.1 million square feet on an 83-acre site. Developed by CapRock, the two buildings are 100 percent leased to three investment-grade credit tenants, including a Fortune 100 ecommerce company. The single-tenant building at 5802 E. Tropical Parkway features 857,000 square feet, 40-foot clear heights, 171 dock-high doors, 8,000 amps of power, 300 trailer stalls and 679 auto parking stalls. Located at 5902 E. Tropical Parkway, the second building features 271,000 square feet, 32-foot clear heights, 54 dock-high doors, 3,000 amps of power, 159 trailer stalls and 162 auto park stalls. Cushman & Wakefield’s Jeff Chiate, Jeff Cole, Mike Adey, Ed Hernandez and Brad Brandenburg, along with JLL’s Rob Lujan, Xavier Wasiak and Jason Simon, arranged the sale. Additionally, CapRock has broken ground on Phase II of the development, located at 6185, 6215 and 6325 N. Beesley Drive. The expansion will include Building 1 with 249,000 square feet, 28 dock-high loading doors, two drive-in doors, a …

May 3, 2022

Acquisitions Connecticut Northeast Retail

TA Realty Acquires King’s Crossing Shopping Center in Fairfield, Connecticut, for $58M

by Taylor Williams May 3, 2022

FAIRFIELD, CONN. — Boston-based investment firm TA Realty has acquired King’s Crossing, an 82,000-square-foot shopping center located in the southern Connecticut city of Fairfield, for $58 million. Built in 2011, King’s Crossing was 97 percent leased at the time of sale to tenants such as Whole Foods Market, CVS Pharmacy, Petco, Five Guys, Sleep Number and Chipotle Mexican Grill. Jose Cruz, Kevin O’Hearn, Danny Finkle, Michael Oliver, Steve Simonelli, Andrew Scandalios and Grace Braverman of JLL represented the undisclosed institutional seller in the transaction.

May 3, 2022

Illinois Industrial Loans Midwest

JLL Arranges $85M Acquisition Loan for Industrial Portfolio Across Four States

by Kristin Harlow May 3, 2022

CHICAGO — Chicago-based JLL Capital Markets has arranged an $85 million loan for the acquisition of a 12-building industrial portfolio totaling 814,888 square feet across California, Georgia, Maryland and Minnesota. MDH Partners acquired the fully leased portfolio. Chris Drew, Maxx Carney, Jimmy Calvo, Robert Carey, Brock Yaffe and Eric Boucher of JLL arranged the five-year, floating-rate loan with Truist. Mark Hancock of Truist Commercial Real Estate served as the lead on the transaction for Truist.

May 3, 2022

California Industrial Loans Western

LongPoint Realty Partners Receives $52M Acquisition Loan for Van Nuys Industrial Park in Los Angeles

by Amy Works May 3, 2022

LOS ANGELES — JLL Capital Markets has secured $52 million in acquisition financing for Van Nuys Industrial Park, a value-add business park situated on 11.7 acres in the Van Nuys submarket of Los Angeles. The borrower is Boston-based Longpoint Realty Partners. The seller was not disclosed. Totaling 84,346 square feet, Van Nuys Industrial Park features four light industrial buildings constructed between 1963 and 1974, plus two land parcels totaling 3.8 acres used as outdoor storage lots for automobile and truck trailers. At the time of sale, the property was fully leased to six tenants. The buildings are located at 16300-16210, 16251, 16201, 16141, 16161 Raymer St. and 8085 Woodley Ave. Greg Brown and Peter Thompson of JLL Capital Markets placed the three-year, floating-rate, nonrecourse acquisition loan with Prime Finance.

May 3, 2022

Illinois Loans Midwest Multifamily

Barings Provides $67M Loan for Recapitalization of Apartment Complex in Lombard, Illinois

by Kristin Harlow May 3, 2022

LOMBARD, ILL. — Barings has provided a $67 million, three-year loan for the recapitalization of The 450, a newly constructed apartment complex in the Chicago suburb of Lombard. Amenities at the 256-unit property include a fitness center, yoga studio, business center, package room with cold storage, heated underground parking, pet park, pool and electric car charging stations. Emerald Isle Investment Partners advised the borrower, a joint venture between UrbanStreet Group and Atlas Residential. The three-year loan includes funding to complete lease-up.

May 3, 2022

Development New York Northeast Office

Joint Venture Tops Out 16-Story Office Building in Lower Manhattan

by Taylor Williams May 3, 2022

NEW YORK CITY — A joint venture between Trinity Church Wall Street, Norges Bank Investment Management and Hines has topped out 555 Greenwich, a 16-story office building in Lower Manhattan. Designed by COOKFOX Architects, the 270,000-square-foot building, which is located in the Hudson Square neighborhood, will include ground-floor retail space and 33,000 square feet of outdoor amenity space via 11 terraces. Completion is slated for 2023.

May 3, 2022

Acquisitions Indiana Midwest Retail

Cooper Group Negotiates $7.3M Sale of Retail Property in Zionsville, Indiana

by Kristin Harlow May 3, 2022

ZIONSVILLE, IND. — The Cooper Commercial Investment Group has negotiated the $7.3 million sale of The Avenue at Bennett Farms, a two-building retail property in the Indianapolis suburb of Zionsville. The 12,969-square-foot development is home to Tropical Smoothie Café, Restore Hyper Wellness, Capriotti’s Sandwich Shop, Hand & Stone Massage, Garbanzo Mediterranean Fresh, Classic Cleaners and a freestanding Java House. Dan Cooper of Cooper Group represented the seller, a Midwest-based developer. He also procured the buyer, a Midwest-based private investment group. The asset sold at roughly 99 percent of the list price and a 5.9 percent cap rate.

May 3, 2022

Illinois Leasing Activity Midwest Retail

Five Iron Golf to Open in Chicago’s Lincoln Park

by Kristin Harlow May 3, 2022

CHICAGO — Five Iron Golf, an indoor golf simulation experience, has signed a lease to open a new location in Chicago’s Lincoln Park. Located at 1000 W. North Ave., the 13,150-square-foot space will serve as Five Iron Golf’s third location in Chicago. Sharon Kahan and Amy Sider of CBRE represented the tenant in the lease transaction. The duo also represented Five Iron Golf in its other two leases in The Loop and River North.

May 3, 2022

Acquisitions Multifamily New Mexico Seniors Housing Western

Mission Senior Living Buys Wheatfields Estates Seniors Housing Community in Clovis, New Mexico

by Amy Works May 3, 2022

CLOVIS, N.M. — Carson City, Nev.-based Mission Senior Living has acquired Wheatfields Estates Senior Living and Memory Care at 4701 N. Prince St. in Clovis, located in the eastern portion of the state near the Texas border. Wheatfields Estates offers independent living cottages, assisted living, memory care and respite care for seniors. Terms of the transaction were not released. The acquisition brings Mission Senior Living’s portfolio to seven properties in three states, including Three Rivers Estates Senior Living and Memory Care property, currently under construction in Farmington.

May 3, 2022

Acquisitions Illinois Industrial Midwest

Brown Commercial Group Brokers Sale of 28,810 SF Industrial Building in Addison, Illinois

by Kristin Harlow May 3, 2022

ADDISON, ILL. — Brown Commercial Group Inc. has brokered the sale of a 28,810-square-foot industrial building in Addison. The property is located at 25 W. Official Road. Mike Antonelli of Brown represented the buyer, Pat Mooney Saws, a distributor and importer of metal sawing machinery, accessories and saw blades. The building is across the street from the headquarters of Pat Mooney Saws. The seller and sales price were undisclosed.

May 3, 2022

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