Property Type

Gensler Completes Repositioning of CIM Group’s 188,000 SF Office Building in East Austin

by Taylor Williams June 16, 2022

AUSTIN, TEXAS — Architecture and design firm Gensler has completed the repositioning of Fifth + Tillery, a 188,000-square-foot office building in East Austin that is a redevelopment of an industrial facility. The owner, CIM Group, acquired the property in October 2019 shortly after construction began, and the initial construction was completed in August 2020. Spaces at Fifth + Tillery are marketed to creative office users featuring outdoor balconies with heightened levels of natural light. The building also offers a landscaped courtyard with various outdoor amenities.

June 16, 2022

Acquisitions Multifamily Texas

TMG Negotiates Sale of Two Adjacent Multifamily Properties Totaling 400 Units in San Antonio

by Taylor Williams June 16, 2022

SAN ANTONIO — Dallas-based brokerage firm The Multifamily Group (TMG) has negotiated the sale of Limestone Oaks and Townhomes at Limestone Oaks, two adjacent multifamily properties totaling 400 units in northwest San Antonio. The communities were respectively built in 1981 and 1984. Bryce Smith of TMG represented the seller, Harvest Equities, in the transaction, and procured the undisclosed buyer. The sale was conducted off-market and included a 6.5-acres tract of developable land that connects the properties.

June 16, 2022

Acquisitions Multifamily Texas

FCP, VaultCap Acquire 200-Unit Huntington Meadows Apartments in Austin

by Taylor Williams June 16, 2022

AUSTIN, TEXAS — A partnership between Maryland-based investment firm FCP and VaultCap Partners has acquired Huntington Meadows Apartments, a 200-unit multifamily complex in northeast Austin. The property features one-, two-, three- and four-bedroom units and amenities such as a pool, fitness center, playground, basketball court and onsite laundry facilities. Wes Racht, Bard Hoover and Nick Fluellen of Marcus & Millichap represented the undisclosed seller in the transaction.

June 16, 2022

Industrial Leasing Activity Texas

Verdi Commerce Signs 94,249 SF Industrial Lease in Garland, Texas

by Taylor Williams June 16, 2022

GARLAND, TEXAS — Verdi Commerce, a marketing and consulting platform for e-commerce users, has signed a 94,249-square-foot industrial lease at 3901 W. Miller Road in Garland, a northeastern suburb of Dallas. According to LoopNet Inc., the property was built in 2008 and totals 435,179 square feet. Merideth Murphey, Evan Hammer, Lauren Pesqueda and Brendan Zrowka of Whitebox Real Estate represented the tenant in the lease negotiations. Robert Allen internally represented the landlord, First Industrial Texas.

June 16, 2022

Acquisitions Retail Texas

NAI Partners Arranges Sale of 38,283 SF Bowling Alley in San Antonio

by Taylor Williams June 16, 2022

SAN ANTONIO — NAI Partners has arranged the sale of a 38,283-square-foot bowling alley located at 3239 Harry Wurzbach Road in San Antonio. Astro SuperBowl operates the facility. Joshua Murphy and Ross Anderson of NAI Partners represented the seller, an entity doing business as A & E Sports LLC, in the transaction. Jorstep Inc. represented the undisclosed buyer.

June 16, 2022

Development Multifamily New Jersey Northeast

Kushner Breaks Ground on 265-Unit Multifamily Project in East Hanover, New Jersey

by Taylor Williams June 16, 2022

EAST HANOVER, N.J. — Locally based developer Kushner has broken ground on a 265-unit multifamily project in the Northern New Jersey community of East Hanover. The community will feature a mix of one- to three-bedroom residences across four buildings and will include 53 affordable housing units. The amenity package will comprise a pool, grilling stations, outdoor gaming area, fitness center with a yoga studio, theater room, residents-only clubroom, a conference and coworking facilities. Completion is slated for the first quarter of 2025.

June 16, 2022

Connecticut Development Multifamily Northeast

Building & Land Technology Completes 180-Unit Apartment Community in Stamford, Connecticut

by Taylor Williams June 16, 2022

STAMFORD, CONN. — Connecticut-based developer and private equity firm Building & Land Technology has completed Anthem, a 180-unit apartment community in Stamford’s Harbor Point neighborhood. The waterfront community offers one-, two- and three-bedroom units and amenities such as a pool, fitness center with a yoga studio, meditation center, golf simulator, outdoor kitchens, guest suites and communal workspaces. Rents start at approximately $2,900 per month for a one-bedroom unit.

June 16, 2022

Acquisitions Industrial New Jersey Northeast

Cushman & Wakefield Arranges Sale of 171,269 SF Industrial Facility in Hamilton, New Jersey

by Taylor Williams June 16, 2022

HAMILTON, N.J. — Cushman & Wakefield has arranged the sale of a 171,269-square-foot industrial facility in Hamilton, a suburb of Trenton. Built in 2021, the property is a redevelopment of a shopping center and features a clear height of 36 feet, 40 loading positions, parking for 150 automobiles and trailer storage. Gary Gabriel, Kyle Schmidt and Ryan Larkin of Cushman & Wakefield represented the sellers, Penwood Real Estate Investment Management and Metrix Real Estate Services LLC, in the transaction. Principal Real Estate Investors acquired the property for an undisclosed price.

June 16, 2022

Acquisitions Massachusetts Multifamily Northeast

Scully Co. Acquires 128-Unit Bixby Apartments in Haverhill, Massachusetts

by Taylor Williams June 16, 2022

HAVERHILL, MASS. — Scully Co., a multifamily investment firm based in Pennsylvania, has acquired The Bixby, a 128-unit apartment complex in the northern Boston suburb of Haverhill. The transit-oriented property features studio, one-, two- and three-bedroom units. Amenities include a resident lounge with games and TVs, an entertainment kitchen, 24-hour fitness center, package handling room and a dog park. Adam Dunn and Chris Phaneuf of Berkadia represented the seller, Blackfin Real Estate Investors, in the transaction. Robert Falese, also with Berkadia, originated a $24.4 million Freddie Mac acquisition loan on behalf of Scully Co., which plans to upgrade unit interiors and common areas.

June 16, 2022

Leasing Activity New York Northeast Office

Prosek Partners Signs 34,000 SF Office Lease in Midtown Manhattan

by Taylor Williams June 16, 2022

NEW YORK CITY — Corporate communications and public relations firm Prosek Partners has signed a 34,000-square-foot office lease at 28 East 28th Street in Manhattan’s Midtown South area. The tenant plans to relocate to the 15th floor of the newly renovated building, which houses a Whole Foods Market on the ground floor, from 105 Madison Avenue in the fourth quarter. Barry Zeller, Jonathan Serko and Barry Garfinkle of Cushman & Wakefield represented the tenant in the lease negotiations. Peter Duncan, Matt Coudert and Alex Bermingham represented the landlord, George Comfort & Sons, which owns the building in partnership with Jamestown and Loeb Partners Realty, on an internal basis.

June 16, 2022

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