GRAND PRAIRIE, TEXAS — Bridge Logistics Properties, an affiliate of Utah-based investment firm Bridge Investment Group Holdings (NYSE: BRDG), has purchased a 203,430-square-foot industrial facility in the central metroplex city of Grand Prairie. Situated on 12 acres, the property features 32-foot clear heights, 180-foot truck court depths, 42 dock-high doors and 49 trailer parking stalls. Kurt Griffin and Nathan Orbin of Cushman & Wakefield represented the undisclosed seller in the transaction.
OKLAHOMA CITY — Chicago-based investment firm Syndicated Equities has acquired a 111,500-square-foot office building in Oklahoma City’s Automobile Alley neighborhood. The seven-story building was constructed in 2020 as a build-to-suit for the corporate headquarters of financial technology firm Heartland Payment Systems, which occupies the entire property on a net-lease basis. The seller and sales price were not disclosed. Old Second National Bank and Gateway First Bank provided acquisition financing for the deal.
UNIVERSAL CITY, TEXAS — Northmarq has brokered the sale of Aviation Place, a 61-unit apartment complex in Universal City, located northeast of San Antonio. According to Apartments.com, the property was delivered in 1961 and offers one- and two-bedroom units. Zar Haro, Moses Siller, Bryan VanCura and Phil Grafe of Northmarq represented the buyer, Raybec Investment Group, in the transaction. The seller and sales price were not disclosed. The new ownership plans to implement a value-add program.
MARSHALL, TEXAS — Partners, the firm formerly known as NAI Partners, has arranged the sale of a 19,598-square-foot industrial property located at 281 Gateway Park Road in Marshall, located near the Texas-Louisiana border. The sale included nine acres of undeveloped land. Josh Lass-Sughrue of Partners represented the seller, an entity doing business as Davis Property Partnership LLC, in the transaction. Colten Courtney, Brett Lum and Carlos Marquez, also with Partners, represented the buyer, R&S Empire Properties LLC.
DOUGLAS, MASS. — CRG, the development arm of Chicago-based construction engineering firm Clayco, has broken ground on The Cubes at Gilboa, a 1.1 million-square-foot industrial project in Douglas, about 20 miles south of Worcester. The facility will be situated on 85 acres and will feature a clear height of 40 feet, 171 dock doors, four drive-in doors, an ESFR sprinkler system and parking for 651 cars and 220 trailers. Lamar Johnson Collaborative is the project architect, and Clayco is the builder. Newmark is the leasing agent. Completion is slated for fall 2023.
EAST BRIDGEWATER, MASS. — Greystar has begun construction on a 412,500-square-foot warehouse and distribution center at 798 N. Bedford St. in East Bridgewater, located south of Boston. The project, which is scheduled for a late 2023 delivery, will be the South Carolina-based developer’s first in the greater Boston area. Greystar has tapped JLL to lease the development.
UNION, N.J. — CBRE has negotiated the sale of Canter Green, a 153-unit apartment complex located in the Northern New Jersey community of Union. The property was built on six acres in 2021 and offers one-, two- and three-bedroom units. Amenities include a pool, lounges, fitness center, sport simulator, game room and a dog run. Jeff Dunne, Stuart MacKenzie, Zach McHale and Travis Langer of CBRE represented the seller, RMS Cos., in the transaction. The team also procured the buyer, Atlanta-based Invesco Real Estate.
NEWINGTON, N.H. — Boston-based brokerage firm Atlantic Capital Partners has arranged the sale of a 127,058-square-foot retail building formerly occupied by Sears in Newington, located in the southeastern part of the Granite State. The building is situated within Fox Run Mall. Justin Smith, Chris Peterson, Sam Koonce and Cole Van Gelder of Atlantic Capital Partners represented the buyer and seller, both of which requested anonymity, in the transaction.
NEW YORK CITY — Applause, a Massachusetts-based provider of digital testing and quality control services, has signed a 17,500-square-foot office lease at 355 Lexington Avenue in Manhattan. Chris Foerch of Savills represented the tenant, which plans to take occupancy of the entire seventh floor later this month, in the lease negotiations. Robert Steinman internally represented the landlord, Rudin, which originally developed the 270,000-square-foot building in 1959.
NASHVILLE, TENN. — Newmark has brokered the $96.5 million sale of Alta Union, a newly constructed, 283-unit apartment community located at 5800 Centennial Blvd. in Nashville. Weinstein Properties purchased the property from the developer, Wood Partners. Tarek El Gammal and Vincent Lefler of Newmark represented the seller in the transaction. Located in The Nations neighborhood, Alta Union features a two-story clubhouse with outdoor terraces on the second level, a swimming pool, courtyard, private offices for rent and individual and group coworking spaces.
