HOUSTON — Ideal Steel Inc., an Oregon-based fabricator, has signed a 66,500-square-foot industrial lease renewal at 5900 Brittmoore Road in northwest Houston. According to LoopNet Inc., the single-tenant property was built in 1969. Jake Wilkinson and Darren O’Conor of NAI Partners represented the tenant in the lease negotiations. Brad Berry and Ryan Wasaff represented the locally based landlord, Welcome Group, on an internal basis.
GARDEN CITY, N.Y. — Midwood Investment & Development has sold Whole Foods at Westbury, a 55,109-square-foot shopping center located in the Long Island community of Garden City, for $65.3 million. Whole Foods Market anchors the property, which is also home to a 4,818-square-foot, freestanding pad site occupied by HSBC Bank and Bond Vet. Jim Galbally, Chris Angelone, Jose Cruz, Christopher Munley, Andrew Scandalios, Colin Behr and J.B. Bruno of JLL represented Midwood in the disposition of the property to an undisclosed private family investment firm.
NETCONG, N.J. — Landmark Cos. LLC has acquired a 126-unit multifamily property located at 34 Bank St. in the Northern New Jersey community of Netcong for $44.5 million. The newly constructed, transit-served community offers one-, two- and three-bedroom units that are furnished with stainless steel appliances, quartz countertops and vinyl wood plank flooring. Amenities include grilling stations, fire pits, a clubhouse and fitness center. Eric Johnson of NAI DiLeo-Bram represented Landmark Cos. in the transaction. The seller was not disclosed.
PENNSAUKEN, N.J. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Ivystone Senior Living in Pennsauken, located across the Delaware River from Philadelphia. The community features 100 independent living residences, 43 assisted living units and 21 memory care units. The property was originally constructed in 1965. Priority Life Care, a court-ordered receiver as the property was in bankruptcy, sold the asset to UNPPG Management LLC, a privately held owner-operator based in New York. The sales price was not disclosed.
ANSONIA, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $14 million sale of Ansonia Landing, a 91,460-square-foot shopping center located in Connecticut’s New Haven County. The property, which was built in 1979 and was 91.5 percent leased at the time of sale, consists of a 60,000-square-foot Stop & Shop grocery store and a 31,460-square-foot strip center. Jim Koury of IPA represented the seller and procured the buyer, both of which were limited liability companies, in the transaction.
CHERRY HILL, N.J. — Camden County has signed a 154,211-square-foot office lease at Woodcrest Corporate Center in Cherry Hill, a suburb of Philadelphia. The deal brings the 352,520-square-foot complex to full occupancy. Other tenants at Woodcrest Corporate Center include Auto Lenders, Radian, Penn National Gaming, Jefferson Health Systems, Conduent and Solar Xchange. JLL represented the landlord, Crown Properties, in the lease negotiations.
SCOTTSDALE, ARIZ. — JLB Partners has completed the disposition of The Moderne, a mid-rise apartment property located at 4848 N. Goldwater Blvd. in Scottsdale. An undisclosed buyer acquired the asset for $260 million, or $704,607 per unit. Completed in 2015, The Moderne features 369 apartments with nine-foot ceilings, full-size washers/dryers, hardwood flooring, walk-in closets with custom wood shelving and private patios. Select units have integrated desks and bookshelves, built-in wine racks, pass-through laundry chutes and private yards. Community amenities include a resort-style pool and spa, leasing office, resident clubhouse, wellness center, electric car charging stations and private garages. Steve Gebing and Cliff David of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer in the deal, which is the largest single-asset core multifamily sale in Arizona history, according to IPA.
TEMPE, ARIZ. — KeyBank Real Estate Capital has arranged $90.7 million in fixed-rate financing for CrossHarbor Capital Partners for the refinancing of The Cameron, an apartment complex in Tempe. Built in 2020 on 13.3 acres, the four-story community features 349 apartments, a pool deck with cabanas, fitness center, clubhouse, outdoor courtyard with fireplaces and lounge spaces, pet spa and bocce ball court. Hayley Suminski and Greg Halvorson of KeyBank structured the nine-year loan from funds managed by Apollo Global Management as lender. The financing features a 4.5-year interest-only period followed by a 30-year amortization schedule.
LAFAYETTE, CALIF. — An institutional investment group has acquired a two-property retail portfolio in Lafayette from an undisclosed private seller. Terms of the transaction were not released. The portfolio includes La Fiesta Square, a 3.9-acre open-air, convenience-oriented lifestyle center, and Lafayette Mercantile, a 56,614-square-foot mixed-use asset. La Fiesta Square features 74,295 square feet of retail space spread across five buildings. The three-story Lafayette Mercantile offers ground-floor retail space and office space on the second and third floors. Nicholas Bicardo and Steven Golubchik of Newmark represented the seller in the transaction.
LOS ANGELES — JLL Capital Markets has provided a $30.3 million loan to refinance Nantucket Creek, a 172-unit, garden-style, age-restricted apartment community in the Chatsworth neighborhood of Los Angeles. JLL worked on behalf of the borrower, Universe Holdings, to secure the 10-year, fixed-rate loan through Freddie Mac. JLL Real Estate Capital LLC will service the loan. Proceeds from the loan also provided a return of equity to Universe’s balance sheet, which the company plans to use toward future acquisitions. Nantucket Creek comprises one- and two-bedroom units ranging from 623 to 1,100 square feet. The community is located along California’s State Route 27, providing access to local retail and dining centers, as well as Chatsworth Dry Lake Nature Preserve and West Hills Hospital and Medical Center. Charles Halladay, Jonah Aelyon and Elle Miraglia led the JLL Capital Markets debt advisory team representing the borrower.