TERRELL, TEXAS — Lee & Associates has negotiated the sale of a 765,798-square-foot, rail-served industrial building in Terrell, about 30 miles east of Dallas, that was formerly occupied by Goodyear Tire. Building features include a cross-dock configuration, 185-foot truck court depths and an ESFR sprinkler system. Ken Wesson of Lee & Associates represented the buyer, an entity doing business as BFI Newco Holdings, in the transaction. Steve Berger and Corbin Crews of CBRE represented the seller, an entity doing business as 301 Apache Trail LLC.
PLANO, TEXAS — Seattle-based Avatar Financial Group has provided a $30 million loan for the refinancing of City View Corporate Center, a 293,821-square-foot office building in Plano. The property was originally built in the 1980s and most recently renovated between 2019 and 2021. At the time of the loan closing, City View Corporate Center was 58 percent leased to a roster of more than 50 tenants. The undisclosed borrower plans to use a portion of the proceeds to fund capital improvements.
ARLINGTON, TEXAS — New York City-based Ready Capital has closed a $24.4 million loan for the acquisition, renovation and stabilization of an unnamed, 252-unit apartment complex in Arlington. The nonrecourse, interest-only loan features a 36-month term, floating interest rate, two extension options and a facility to fund future capital improvements. The sponsor was not disclosed.
HIALEAH, FLA. — Terreno Realty Corp. has acquired an industrial property in Hialeah for $73.2 million. The seller was not disclosed. Located at 4281-4341 West 108th St. on nearly 20 acres, the industrial property includes two recently developed rear-load distribution buildings totaling approximately 407,000 square feet. The property features 124 dock-high and four grade-level loading positions, 32-foot clear heights and parking for 359 cars. Additionally, the property is expected to obtain LEED certification. The property is fully preleased to two undisclosed tenants with leases expected to start in May and September. The property is situated immediately adjacent to Terreno Realty’s five existing buildings on West 108th Street and adjacent to Florida’s Turnpike and Interstate 75.
ASHLAND, VA. — Berkadia has arranged the $45.3 million sale of Ashland Towne Square, a 218-unit garden-style multifamily property in Ashland. David Hudgins, Carter Wood and Drew White of Berkadia represented the seller, a Virginia-based entity doing business as Ashland Apartment Associates LP. The buyer was Maryland-based Acento Real Estate Partners. Ashland Towne Square offers one-, two- and three-bedroom floorplans. Unit features include air conditioning, in-unit washer and dryer hookups and walk-in closets. Community amenities include a swimming pool, laundry facilities and a playground. Located at 204 Kings Arms St., the property is situated 19 miles north of Richmond and 26 miles from Richmond International Airport. The property is also near Route 1, Interstate 95 and the shops and restaurants along England Street.
DULUTH, GA. — Albany Road Real Estate Partners has bought Breck Exchange, a 12-building flex office portfolio in Duluth, about 27.5 miles from downtown Atlanta. Patterson Real Estate Advisory Group secured an undisclosed amount of debt financing. Atlanta-based Ameris Bank provided an undisclosed amount of financing. Bain Capital and RealOp sold the asset for an undisclosed price. Breck Exchange includes over 558,000 square feet of space. At the time of sale, the property was 88 percent occupied with over 50 tenants. Located on 71 acres, the property is situated near Interstate 85, Highway 316 and Breckenridge Boulevard.
NEW YORK CITY — JLL has arranged a $49 million loan for the acquisition of a two-acre industrial development site in Brooklyn. The borrower, a partnership between Turnbridge Equities and Dune Real Estate Partners LP, plans to develop an 80,000-square-foot facility at the site using a portion of the proceeds from this loan. The project will also include 92,000 square feet of covered and rooftop parking space. Christopher Peck and Peter Rotchford of JLL arranged the loan through Starwood Property Trust.
FORT MILL, S.C. — Ready Capital has closed a $9 million acquisition loan for a 64-unit, unnamed multifamily property in Fort Mill, a South Carolina suburb of Charlotte. Upon acquisition, the unnamed sponsor will implement a capital improvement plan to renovate the common areas and unit interiors. The non-recourse, interest-only, floating-rate loan features a 36-month term, two extension options and is inclusive of a facility to provide future funding for capital expenditures.
UTICA, N.Y. — CBRE and Newmark have brokered the sale of Deerfield Place, a 156-unit apartment complex located in the upstate New York community of Utica. The property was built in 2016 and offers amenities such as a pool, resident lounge, fitness center, conference room and a dog park. Jeff Dunne and Eric Apfel of CBRE, in conjunction with Gene Pride and Jamie Thelwell of Newmark, represented the seller, New York-based United Group of Cos., in the transaction. The quartet also procured the buyer, an undisclosed, publicly traded REIT.
ASHEBORO, N.C. — A partnership known as Flagship Realty LLC, led by Patrick O’Connell and Christian Poyant, has purchased 1334 East Dixie Drive, a two-tenant retail building in Asheboro. Jimmy Flowers of Flowers Capital Holdings brokered the $2 million sale. Flowers Capital Holdings will serve as the property manager. Pinnacle Bank provided a $1.6 million acquisition loan. The 1334 East Dixie Drive property is a 6,400-square-foot retail building that is fully occupied with long-term leases in place to Mattress Warehouse and AT&T. Additionally, the property is shadow-anchored by the Six Four Nine Commons Shopping Center, which is anchored by an Aldi and Harbor Freight Tools. The property is located near Randolph Mall, as well as a McDonald’s, a Chevrolet dealership, the Asheboro Mall and a Food Lion.