Property Type

PRECAP Brokers $4.1M Sale-Leaseback of Northwest Indiana Orthopedic Facility

by Kristin Harlow July 7, 2022

MERRILLVILLE, IND. — Physician Real Estate Capital Advisors (PRECAP) has brokered the $4.1 million sale-leaseback of the Bone & Joint Specialists orthopedic facility in Merrillville, a city in Northwest Indiana. The 15,504-square-foot property is located at 9001 Broadway and is adjacent to the Methodist Hospitals Southlake Campus. Bone & Joint Specialists has operated out of the property since 2008. Scott Niedergang of PRECAP, along with JDS Real Estate Services Inc., represented the seller, a physician partnership. The team also represented the buyer, a REIT focused on healthcare real estate.

July 7, 2022

Acquisitions California Retail Western

Madison Marquette Sells 42-Acre Bayfair Center Regional Mall in San Leandro, California

by Amy Works July 7, 2022

SAN LEANDRO, CALIF. — An affiliate of Madison Marquette has completed the sale of Bayfair Center, a 42-acre regional mall at a BART subway station in San Leandro. B3 and GAW Capital Partners acquired the property for an undisclosed price. Located at 15555 E. 14th St., Bayfair Center was 91 percent leased at the time of sale. Current tenants include Target, Century Theaters, Macy’s, Kohl’s, Bed Bath & Beyond, Ulta Beauty, Old Navy, 24 Hour Fitness and PetSmart. The property includes one main mall building and five outparcel buildings with a total of 816,771 leaseable square feet. The asset offers the ability to redevelop a large portion of the site into a life sciences and mixed-use campus. Nicholas Bicardo, Steven Golubchik, Jonathan Schaefler, Darren Hollak and Cheyne Bloch of Newmark represented the seller in the transaction.

July 7, 2022

Leasing Activity Office Texas

Cheniere Energy Signs 151,490 SF Office Headquarters Lease in Downtown Houston

by Taylor Williams July 7, 2022

HOUSTON — Cheniere Energy Inc. has signed a 151,490-square-foot office lease for its new global headquarters at Texas Tower, a 47-story building in downtown Houston. The space spans floors 12 through 16 and includes 16,000 square feet of private outdoor gardens and amenity areas. Chris Oliver, Trey Strake and David Guion of Cushman & Wakefield represented Cheniere in the lease negotiations. Michael Anderson, also with Cushman & Wakefield, represented the landlord, a joint venture between Hines and Ivanhoé Cambridge. The 1.2 million-square-foot tower is now 70 percent leased following deals with laws firms Vinson & Elkins, McGuireWoods and DLA Piper.

July 7, 2022

Colorado Development Industrial Western

ViaWest Enters Denver Market with Plans to Develop 134,400 SF Downtown Distribution Center

by Amy Works July 7, 2022

DENVER — Phoenix-based ViaWest Group is entering the Denver market with plans to develop Downtown Distribution Center, a freestanding, Class A industrial building at 5601 Franklin St. in Denver. Situated on 9.32 acres, the 134,400-square-foot building is slated for delivery in second-quarter 2023. The property will feature modern design with 32-foot clear heights, 28 dock-high doors, two drive-in doors, heavy power, ESFR sprinklers, ample trailer and auto parking, clerestory windows and Class A office space. Drew McManus, Bryan Fry and Ryan Searle of Cushman & Wakefield brokered the sale of the land to ViaWest and will handle leasing of the new project.

July 7, 2022

Acquisitions Multifamily Texas

David B. Norton Arranges $15.5M in Preferred Equity for Multifamily Portfolio in Corpus Christi, New Braunfels

by Taylor Williams July 7, 2022

CORPUS CHRISTI AND NEW BRAUNFELS, TEXAS — Capital advisory firm David B. Norton Inc. has arranged a $15.5 million preferred equity investment for a 722-unit multifamily portfolio in Texas. The properties in the portfolio, which were all constructed within the past decade and feature a mix of studio, one- and two-bedroom units, are located in Corpus Christi and New Braunfels, a suburb of San Antonio. The buyer was an undisclosed investment and management firm based in Austin. David B. Norton Inc. placed the preferred equity investment behind a $105 million senior loan, yielding an 81 percent loan-to-cost ratio within the capital stack.

July 7, 2022

Acquisitions Colorado Industrial Loans Western

Essex Financial Group Arranges $13.8M Acquisition Loan for Front Range Business Park in Longmont, Colorado

by Amy Works July 7, 2022

LONGMONT, COLO. — Essex Financial Group has arranged $13.8 million in financing for the purchase of Front Range Business Park, a two-building industrial/flex complex located in the Boulder County city of Longmont. Essex worked on behalf of the buyer, Ivy Realty, to source the seven-year, fixed-rate loan with a regional bank. The financing includes an interest-only component with prepayment flexibility to match the buyer’s business plan. The seller was not disclosed. Front Range Business Park is 100 percent leased to the State of Colorado’s Front Range Community College (FRCC) on a long-term lease. Built in 1988, the property was originally designed for small-bay industrial/flex use and includes nine dock-high loading doors between the two buildings. The property was converted for the school in 2003, where FRCC has been the sole tenant for the past 19 years. Paul Donahue, Cooper Williams, Nate Schneider and Andrea Mehlem of Essex’s Capital Markets team secured the financing.

July 7, 2022

Acquisitions Multifamily Texas

Marcus & Millichap Brokers Sale of 246-Unit Apartment Complex in Fort Worth

by Taylor Williams July 7, 2022

FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Rio Vista, a 246-unit apartment complex in Fort Worth. Located on the city’s northeast side, Rio Vista offers one- and two-bedroom units and amenities such as two pools, a playground, dog park and a soccer field. Al Silva and Ford Braly of Marcus & Millichap represented the seller, Florida-based Greenwater Investments, in the transaction. The duo also procured the buyer, an undisclosed, California-based investor that plans to make capital improvements to the property.

July 7, 2022

Acquisitions Massachusetts Northeast Retail

Atlantic Capital Brokers $84.2M Sale of Three Metro Boston Shopping Centers

by Taylor Williams July 7, 2022

ABINGTON, KINGSTON AND ORLEANS, MASS. — Boston-based Atlantic Capital Partners, a division of Atlantic Retail, has arranged the $84.2 million sale of three shopping centers located on the southern outskirts of the state capital. The properties in Abington, Kingston and Orleans are all anchored by grocers and were collectively 97 percent leased at the time of sale. Justin Smith, Chris Peterson, Sam Koonce, Cole Van Gelder and Ben Starr of Atlantic Capital Partners represented the buyer and seller, both of which requested anonymity, in the transaction.

July 7, 2022

Acquisitions Connecticut Development Mixed-Use Northeast

Accurate Acquires 24-Acre Mixed-Use Development Site in Fairfield, Connecticut

by Taylor Williams July 7, 2022

FAIRFIELD, CONN. — New Jersey-based developer Accurate has acquired a mixed-use development site located adjacent to the Metro North train station in the southern coastal community of Fairfield. The 24-acre site, which has been branded The Crossings at Metro Station, is fully approved for 357 multifamily units, a 118-room hotel, 70,000 square feet of office space and 40,000 square feet of retail space. Louis Zuckerman, Patrick Colwell and Jeffrey Dunne of CBRE represented the seller of the site, Blackrock Realty LLC, in the land transaction while also procuring Accurate as the buyer. Construction could begin as early as the end of July or the beginning of August.

July 7, 2022

Acquisitions Industrial New Jersey Northeast

EverWest Real Estate Buys Northern New Jersey Warehouse for $37.1M

by Taylor Williams July 7, 2022

EAST RUTHERFORD, N.J. — Denver-based EverWest Real Estate Investors has purchased a 117,000-square-foot warehouse in the Northern New Jersey community of East Rutherford for $37.1 million. Building features include a clear height of 26 feet, 10 dock-high doors, one drive-in door and 16,000 square feet of office space. The seller, cleaning and sanitizing products provider Diamond Chemical, will continue to lease the space as the building’s sole occupant.

July 7, 2022

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