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Tradepoint-45-West-Wilmer
DevelopmentIndustrialTexas

Champion Partners, Cresset Break Ground on 1.3 MSF Spec Warehouse in Metro Dallas

by Taylor Williams

WILMER, TEXAS — Dallas-based Champion Partners and Chicago-based Cresset Partners have broken ground on Tradepoint 45 West, a 1.3 million-square-foot speculative warehouse that will be located in the southern Dallas suburb of Wilmer. The site spans 95 acres, and the structure will feature 40-foot clear heights, 237 dock doors, 354 truck trailer parking stalls and 306 employee parking spaces. Completion is slated for the third quarter of 2023. The development team has tapped Stream Realty Partners to lease the building.

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AcquisitionsIndustrialTexas

Colliers Negotiates Sale of 163,000 SF Manufacturing Facility in Sunnyvale, Texas

by Taylor Williams

SUNNYVALE, TEXAS — Colliers has negotiated the sale of a 163,000-square-foot manufacturing facility located on U.S. Highway 80 in Sunnyvale, an eastern suburb of Dallas. Automotive parts provider The Adell Group occupies the facility along with construction management firm The Christman Co. Andrew Johnson of Colliers represented the buyer, Dallas-based Leon Capital Group, in the transaction, additional terms of which were not disclosed.

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AcquisitionsOfficeTexas

DPR Investments Acquires 156,000 SF Office Park in San Antonio

by Taylor Williams

SAN ANTONIO — Locally based firm DPR Investments has acquired One Park Ten, a 156,000-square-foot office park in San Antonio. The four-building development is located along the I-10 corridor, just inside Loop 410 on the city’s north side. DPR Investments purchased the property from Florida-based Accesso Partners with plans to implement a value-add program. The firm has tapped REOC San Antonio to lease the property.

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AcquisitionsMultifamilyTexas

Northmarq Arranges Sale of 62-Unit Multifamily Property in Austin

by Taylor Williams

AUSTIN, TEXAS — Northmarq has arranged the sale of Mueller Crossing, a 62-unit multifamily property located at 5020 Manor Road in Austin that was originally built in 1969 and recently renovated. Amenities at Mueller Crossing include a pool, outdoor grilling and dining areas and a dog park. Justin Chambers and Scott LaMontagne of Northmarq represented the seller and procured the locally based buyer in the transaction. Both parties were private investment groups that requested anonymity.

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Leasing ActivityOfficeTexas

Commonwealth Projects Signs 20,755 SF Office Lease Expansion in West Houston

by Taylor Williams

HOUSTON — Los Angeles-based design agency Commonwealth Projects has signed a 20,755-square-foot office lease expansion at One Riverway in Houston. The tenant now occupies a full floor at the 481,222-square-foot building, which is located on the city’s west side. Brad Fricks, Matt Asvestas and Danielle Rothchild of Stream Realty Partners represented the landlord, Unilev Capital Corp., in the lease negotiations. Noah Kruger of Savills represented the tenant.  

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AcquisitionsNortheastPennsylvaniaRetail

IPA Negotiates Sale of 410,432 SF Retail Power Center in Harrisburg

by Taylor Williams

HARRISBURG, PA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Colonial Commons, a 410,432-square-foot retail power center in Harrisburg. Built in 1989 and renovated in 2014, the center was 98 percent leased at the time of sale to tenants such as Hobby Lobby, Dick’s Sporting Goods, HomeGoods, Marshalls, Ross Dress for Less, Jo-Ann Fabrics, Ulta and Old Navy. Brad Nathanson of IPA represented the undisclosed seller and procured the buyer, Prasavi Inc., in the transaction.  

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AcquisitionsMultifamilyNew HampshireNortheast

Brady Sullivan Properties Buys Apartment Complex in Dover, New Hampshire, for $29.1M

by Taylor Williams

DOVER, N.H. — An affiliate of locally based investment firm Brady Sullivan Properties has purchased White Cliffs at Dover, a 192-unit apartment complex in southern New Hampshire, for $29.1 million. Built between 1983 and 1985, the garden-style property comprises eight three-story buildings that house 24 units apiece. Simon Butler, Biria St. John and John McLaughlin of CBRE represented the undisclosed seller in the transaction. The team also procured Brady Sullivan, which plans to implement a value-add program, as the buyer.

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IndustrialLoansNew JerseyNortheastSelf-Storage

Lakeland Bank Provides $12M Loan for Refinancing of Northern New Jersey Self-Storage Facility

by Taylor Williams

WESTWOOD, N.J. — Lakeland Bank has provided a $12 million loan for the refinancing of an 830-unit self-storage facility located in the Northern New Jersey community of Westwood. The property spans 113,800 net rentable square feet of space across 783 climate-controlled units and 47 drive-up units. Greg Nalbandian led a JLL team that arranged the loan on behalf of the borrower, Maxim Realty Trust, which developed the facility in 2017. Extra Space Storage operates the property.

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LoansMultifamilyNew YorkNortheastNorthmarq

Northmarq Arranges $9M Loan for Refinancing of Multifamily Building in White Plains, New York

by Taylor Williams

WHITE PLAINS, N.Y. — Northmarq has arranged a $9 million loan for the refinancing of Tireno Towers, a 54-unit multifamily building located north of New York City in White Plains. Built in the late 1960s, the property offers studio, one- and two-bedroom units, and three office suites are in the process of being converted to residential use. Robert Ranieri of Northmarq arranged the 10-year loan, which was structured with one year of interest-only payments and a 30-year amortization schedule, through an undisclosed regional bank. The borrower was also not disclosed.

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Samanea-New-York
Leasing ActivityNew YorkNortheastRetail

Beyond Van Gogh to Open 28,000 SF Exhibition Gallery at Samanea New York

by Taylor Williams

WESTBURY, N.Y. — Beyond Van Gogh, a traveling concept dedicated to providing immersion in the artist’s works, will open a 28,000-square-foot exhibition gallery at Samanea New York, a shopping, dining and entertainment destination on Long Island. Beyond Van Gogh will open on Nov. 18 and run through Jan. 8. Matthew Kucker, Jordan Baruch and Herbert Agin at Colliers represented the landlord, Lesso Mall Development, in the lease negotiations. Other entertainment users at Samanea New York include Empire Adventure Park, X-Golf and Ryco’s Escape Room.

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