Property Type

Greenberg Gibbons Adds Four Retailers at St. Thomas Shopping Center in Owings Mills, Maryland

by Julia Sanders August 6, 2021

OWINGS MILLS, MD. — Greenberg Gibbons has signed leases with four new retailers that are joining the St. Thomas Shopping Center in Owings Mills. The new tenants, Next Door Pharmacy, uBreakiFix and Boston Market will open this fall, and Michaels will open in fall 2022. Michaels, an arts and crafts retailer, will take up a 23,045-square-foot space near Baltimore Sports & Novelty. Next Door Pharmacy is a customer-centered pharmacy that offers free delivery, pet medications, compounding, vaccinations and price matching. The company’s 1,600-square-foot location will also be next to Baltimore Sports & Novelty. An electronics repair shop, uBreakiFix, will be in a 1,600-square-foot store between H&R Block and Next Door Pharmacy. Boston Market, a fast-casual restaurant, will be in a 2,000-square-foot space located next to 1st Financial and adjacent to M&T Bank. St. Thomas Shopping Center is located on Reisterstown Road, adjacent to Foundry Row, the mixed-use destination also owned and managed by Greenberg Gibbons. In the 100,000-square-foot commercial complex, St. Thomas Shopping Center also features retailers such as Wells Fargo and Starbucks.

August 6, 2021

Lakeshore-Village-Marketplace-Moreno-Valley-CA

Acquisitions California Retail Western

Newmark Directs $8.3M Sale of Lakeshore Village Marketplace in Moreno Valley

by Amy Works August 6, 2021

MORENO VALLEY, CALIF. — Newmark has arranged the sale of Lakeshore Village Marketplace, a neighborhood shopping center located in Moreno Valley. A Southern California-based private party acquired the retail property from an entity doing business as Lakeshore Plaza Holdings LLC for $8.3 million. Situated at 23575 Sunnymead Parkway, Lakeshore Village Marketplace features 80,000 square feet of retail space. The transaction also includes a 2.3-acre land parcel adjacent to the retail center. Lakeshore Village Marketplace has maintained a steady 87 percent occupancy rate to tenants including Armando’s Mexican Restaurant, Espresso & Cupcake Café, S Bar & Grill, Oishii Sushi, Del Taco and Jack in the Box. Mario Alvarez Jr. and Pablo Rodriguez of Newmark represented the seller in the deal.

August 6, 2021

Development Multifamily Texas

Venterra Realty to Develop 336-Unit Multifamily Community in Metro Houston

by Taylor Williams August 6, 2021

CYPRESS, TEXAS — Venterra Realty has acquired a 12.8-acre site in the northwestern Houston suburb of Cypress for the development of a 336-unit multifamily community. Units will feature stainless steel appliances and shaker cabinets. Amenities will include an 8,600-square-foot clubhouse, a pool, fitness center, package lockers and a business center. A construction timeline for the project is still being finalized.

August 6, 2021

Loans Multifamily Northmarq Texas

NorthMarq Arranges $32M Loan for Refinancing of Gessner Apartments in Houston

by Taylor Williams August 6, 2021

HOUSTON — NorthMarq has arranged a $32 million loan for the refinancing of Gessner Apartments, a 500-unit community in southwest Houston. Warren Hitchcock of NorthMarq arranged the fixed-rate loan, which was structured with a seven-year term and two years of interest-only payments followed by a 25-year amortization schedule. The borrower and direct lender were not disclosed.

August 6, 2021

Acquisitions Multifamily Texas

FCP, VaultCap Acquire 275-Unit Corey Place Apartments in Grand Prairie, Texas

by Taylor Williams August 6, 2021

GRAND PRAIRIE, TEXAS — A partnership between Maryland-based investment firm FCP and VaultCap Partners has acquired Corey Place Apartments, a 275-unit community located in the central metroplex city of Grand Prairie. The property, which according to Apartments.com was built in 1970, offers one-, two- and three-bedroom units. NorthMarq represented the undisclosed seller in the transaction and arranged debt and equity on behalf of the buyer. The new ownership intends to implement a value-add program to add a pool, turf soccer field and outdoor kitchen, as well as to renovate common area and make sustainability improvements.

August 6, 2021

Acquisitions Industrial Texas

Marcus & Millichap Brokers Sale of 110,400 SF Industrial Complex in Metro Dallas

by Taylor Williams August 6, 2021

LEWISVILLE, TEXAS — Marcus & Millichap has brokered the sale of a three-building, 110,400-square-foot industrial complex located in the northern Dallas suburb of Lewisville. Andes Coil Processors occupies the property, which sits on 7.6 acres. Adam Abushagur of Marcus & Millichap represented the seller and buyer, both of which were private investors that requested anonymity, in the transaction.

August 6, 2021

Leasing Activity Office Texas

McGuireWoods Signs 30,000 SF Office Lease at Texas Tower in Downtown Houston

by Taylor Williams August 6, 2021

HOUSTON — International law firm McGuireWoods has signed a 30,000-square-foot office lease at Texas Tower, a 47-story tower under construction in downtown Houston by Hines and Ivanhoe Cambridge. Under the terms of the 11-year lease, the tenant will take occupancy of the 24th floor beginning in June 2022. Bob Parsley, Darren Gowell and Taylor Wright with Colliers International represented the tenant in the lease negotiations. Michael Anderson with Cushman & Wakefield represented the landlord. Construction of Texas Tower, which is now 42 percent preleased, is expected to be complete in the fourth quarter.

August 6, 2021

Loans Massachusetts Multifamily New Jersey Northeast

PGIM Real Estate Provides $178M Refinancing for National Manufactured Housing Portfolio

by Taylor Williams August 6, 2021

NEWARK, N.J. — PGIM Real Estate, the real estate investment and financing business of PGIM, has provided $178 million in fixed-rate debt for the refinancing of a national portfolio of five manufactured housing communities. The properties total 1,731 sites and are located in Massachusetts, New Jersey, Illinois and Florida. Amenities of the portfolio, which was 99 percent occupied at the time of the loan closing, include pools, fitness centers, putting greens, clubhouses, bocce ball courts and dog parks. In addition, four of the five properties feature age restrictions. The borrower was Chicago-based Hometown America. Bellwether Enterprise arranged the debt.

August 6, 2021

Industrial Leasing Activity Massachusetts Northeast

TriMark USA Signs 345,000 SF Industrial Lease in Bellingham, Massachusetts

by Taylor Williams August 6, 2021

BELLINGHAM, MASS. — Restaurant equipment and foodservices supplier TriMark USA LLC has signed a 345,000-square-foot, full-building industrial lease at Bellingham Distribution Center, located about 40 miles southwest of Boston. Dallas-based Lincoln Property Co. developed the building, which features a clear height of 36 feet, 130-foot truck court depths and 227 car parking spaces, in partnership with global investment manager Barings. Ed Jarosz and Rick Schuhwerk of Newmark represented the tenant in the lease negotiations. Ellison Patten and James Tambone of Lincoln Property Co. represented the landlord on an internal basis.

August 6, 2021

Acquisitions Industrial New York Northeast

Marcus & Millichap Brokers Sale of 100,984 SF Industrial Building in Binghamton, New York

by Taylor Williams August 6, 2021

BINGHAMTON, N.Y. — Marcus & Millichap has brokered the sale of a 100,984-square-foot industrial building in the Upstate New York city of Binghamton. The property sits on 7.3 acres and was leased to aerospace and defense firm L3 Harris on a triple-net basis at the time of sale. Adam Abushagur of Marcus & Millichap represented the seller, a private investor, in the transaction. Marcus & Millichap also procured the buyer, Spirit Realty Capital. The sales price was not disclosed.

August 6, 2021

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