Property Type

Cushman & Wakefield | Thalhimer Brokers $4.6M Sale of Retail Strip Center in Hampton Roads

by John Nelson July 25, 2022

YORKTOWN, VA. — Cushman & Wakefield | Thalhimer’s Capital Markets Group has brokered the sale of Boulevard Crossing, a 12,600-square-foot retail strip center located in the Hampton Roads city of Yorktown. An out-of-town 1031 buyer purchased the property from an entity doing business as Boulevard Crossing LLC for $4.6 million. Clark Simpson and Erik Conradi of Thalhimer represented the seller in the transaction. Built in 2016 at 8135 George Washington Highway, Boulevard Crossing was fully leased at the time of sale to tenants including Starbucks, Tropical Smoothie Café and Verizon Wireless, as well as service-oriented retailers and restaurants.

July 25, 2022

Acquisitions Office Texas

JLL Brokers Sale of 206,362 SF Office Building Leased to Men’s Wearhouse in Houston

by Taylor Williams July 25, 2022

HOUSTON — JLL has brokered the sale of Oak Park Office Center II, a 206,362-square-foot office building in Houston that houses the headquarters operations of apparel retailer Men’s Wearhouse. The building, which is located in Houston’s Westchase District, was 49 percent occupied at the time of sale. Kevin McConn, Marty Hogan and Jack Moody of JLL represented the seller, metro Boston-based REIT Office Properties Income Trust, in the transaction. The buyer was an undisclosed, Houston-based investment firm.

July 25, 2022

Build-to-Rent Development Single-Family Rental Texas

Wan Bridge Underway on 192-Unit Build-to-Rent Community in Katy, Texas

by Taylor Williams July 25, 2022

KATY, TEXAS — Wan Bridge, a developer of build-to-rent residential communities, is underway on The Enclave at Mason Creek, a 192-unit project that will be located in the western Houston suburb of Katy. Construction began in early July, and the first residences are expected to be complete at the beginning of 2023. Homes will come in three- and four-bedroom formats and range in size from 1,430 to 1,750 square feet. Amenities will include parks, playgrounds and walking trails. BMO Harris Bank provided construction financing for the project.

July 25, 2022

Acquisitions New Jersey Northeast Office

Birch Group, Lionstone Acquire Central New Jersey Office Complex for $70M

by Taylor Williams July 25, 2022

HOPEWELL, N.J. — A partnership between two regional investment firms, The Birch Group and Lionstone Capital, has acquired a three-building office complex in the Central New Jersey community of Hopewell for $70 million. Princeton Place at Hopewell spans 307,510 square feet and was 96 percent leased at the time of sale to tenants such as Merrill Lynch, Horizon Blue Cross Blue Shield and Janssen R&D. Amenities include multiple cafeterias, a fitness center, indoor basketball court, conference center and a central plaza with water features and outdoor dining space. Cushman & Wakefield represented the undisclosed seller in the transaction.

July 25, 2022

Loans Multifamily New Jersey Northeast

G.S. Wilcox Arranges $60M Permanent Loan for Multifamily Project in Hackensack, New Jersey

by Taylor Williams July 25, 2022

HACKENSACK, N.J. — G.S. Wilcox has arranged a $60 million permanent loan for Print House, a 271-unit multifamily project that will be located in the Northern New Jersey community of Hackensack. Print House, which will be the first phase of a larger, 20-acre development along the Hackensack River, will offer studio, one- and two-bedroom units. Amenities will include a pool with a sundeck, fitness center with a yoga studio, clubroom with TVs and gaming areas, a bar area, private conference room and a dog walk. Gretchen Wilcox, David Fryer and Al Raymond of G.S. Wilcox arranged the 10-year loan on behalf of the borrower, a partnership between Russo Development, Hampshire Management and Fourth Edition Inc., which recently launched its leasing campaign. The direct lender was not disclosed.

July 25, 2022

Acquisitions Connecticut Northeast Office

Fremont Group Sells Hartford Office Buildings, Parking Lots for $50M

by Taylor Williams July 25, 2022

HARTFORD, CONN. — The Fremont Group has sold Riverview Plaza, a 325,000-square-foot waterfront office complex located on the east side of Hartford. The two-building complex was sold in conjunction with a 50,000-square-foot office building and two adjacent parking lots, all of which are situated within Founders Plaza Business Park, for $50 million. The buyer was an entity doing business as Milton East Hartford Investments LLC. At the time of sale, the properties had a collective occupancy rate of 90 percent, with tenants including Bank of America and the State of Connecticut Judicial Branch. Patrick Mulready and John McCormick of CBRE, along with Cory Gubner and Alex Haendler of Newmark, represented The Fremont Group in the transaction.

July 25, 2022

Hospitality Loans New Jersey Northeast

Hall Structured Finance Provides $45.5 Loan for Refinancing of Hotel in Montclair, New Jersey

by Taylor Williams July 25, 2022

MONTCLAIR, N.J. — Dallas-based Hall Structured Finance has provided a $45.5 million bridge loan for the refinancing of MC Hotel, a 159-room boutique lodging property located in the Northern New Jersey community of Montclair. The hotel, which is part of the Autograph Collection by Marriott family of brands, opened in the downtown area in 2019 and features multiple meeting and event spaces, as well as a rooftop bar and lounge. Jay Miller, A.J. Felberbaum and Spencer Miller of BayBridge Real Estate Capital arranged the loan on behalf of the buyer, a partnership between The Hampshire Cos. and The Pinnacle Cos.

July 25, 2022

Development Midwest Missouri Multifamily

Midas Construction Nears Completion of $65M Luxury Multifamily Development in Missouri

by Kristin Harlow July 25, 2022

DARDENNE PRAIRIE, MO. — Midas Construction is nearing completion of a $65 million multifamily development known as Dardenne Luxury Apartments on the Prairie in Dardenne Prairie, about 37 miles northwest of St. Louis. The five-building property will include 180 units. Amenities will include a pool, outdoor lounge, clubhouse, business room, coffee bar, fitness center and dog park. Additionally, Benton Homebuilders is constructing villas at the property. Mia Rose Holdings is the developer, Rosemann & Associates PC is the architect and Premier Design Group is the civil engineer. 2B Residential is underway on the lease-up process and will manage the property, which is slated to open later this summer. Monthly rents start at $1,250.

July 25, 2022

Acquisitions Illinois Midwest Retail

Mid-America Brokers Sale of 112,622 SF Shopping Center in Bolingbrook, Illinois

by Kristin Harlow July 25, 2022

BOLINGBROOK, ILL. — Mid-America Real Estate Corp. has brokered the sale of The Landings, a 112,622-square-foot shopping center in the Chicago suburb of Bolingbrook. The sales price was undisclosed. Anchor tenants at the property, which is 91 percent leased, include PetSmart, OfficeMax, Planet Fitness and Modern Furniture. Ben Wineman of Mid-America represented the seller, an affiliate of Atlanta-based RCG Ventures. Irvine, Calif.-based Sperry Equities was the buyer.

July 25, 2022

Development Massachusetts Multifamily Northeast

FoxRock Properties to Develop 201-Unit Center & Stone Apartments in Quincy, Massachusetts

by Taylor Williams July 25, 2022

QUINCY, MASS. — Locally based development and management firm FoxRock Properties will develop Center & Stone, a 201-unit apartment complex that will be located in the southern Boston suburb of Quincy. The complex will feature 9,500 square feet of retail space and 10,500 square feet of amenity space comprising a pool, rooftop deck, resident lounge and 165 parking spaces. Jonathan Schneider of JLL arranged construction financing for the project through Citizens Bank on behalf of FoxRock.

July 25, 2022

Newer Posts

Older Posts