Property Type

The-Cove-Apartments-Hingham-Massachusetts

CBRE Brokers $139.2M Sale of The Cove Apartments in Hingham, Massachusetts

by Taylor Williams October 5, 2021

HINGHAM, MASS. — CBRE has brokered the $139.2 million sale of The Cove, a 220-unit apartment community in Hingham, located south of Boston. Built in 2020, the property offers a mix of one-, two- and three-bedroom units with hardwood-style flooring, custom cabinets, artisan tile backsplashes and stainless steel appliances. Amenities include a pool, social lounge, fitness center, coworking spaces and pet grooming station. Simon Butler, Biria St. John and John McLaughlin of CBRE represented the seller, a joint venture between Arizona-based Alliance Residential and an institutional investor, in the transaction. The trio also procured an undisclosed institutional investor as the buyer.

October 5, 2021

Development Georgia Multifamily Southeast

McShane Construction Breaks Ground on 240-Unit Apartment Development in Metro Atlanta

by Julia Sanders October 5, 2021

CARTERSVILLE, GA. — McShane Construction Co. has broken ground on Authentix Cartersville, a 240-unit multifamily development located in the northwest Atlanta suburb of Cartersville. McShane is building the property on behalf of the developer, Continental Properties. Authentix Cartersville is McShane’s 23rd project for Continental. Completion is slated for February 2023. Designed by Excel Engineering, Authentix Carterville will feature two-story, garden-style buildings with townhome-style studio, one-, two- and three-bedroom units and private, ground-floor entrances. Each unit will include modern kitchen appliances, washer/dryers and natural light. Community amenities will include a clubhouse with a coffee bar, 24-hour fitness center, swimming pool, outdoor barbeque area and a dog park with a pet spa. Situated on a 25-acre site at 5000 Canton Highway, Authentix Cartersville will be located adjacent to Georgia Highlands Cartersville Campus, about 25.5 miles from Lake Allatoona and 45.4 miles from downtown Atlanta.

October 5, 2021

Development Hospitality New York Northeast

Lightstone Tops Out 303-Room Moxy Lower East Side Hotel in Manhattan

by Taylor Williams October 5, 2021

NEW YORK CITY — National investment and development firm Lightstone has topped out Moxy Lower East Side, a 303-room hotel located at the junction of Manhattan’s Little Italy, SoHo and Chinatown neighborhoods. The design team includes master architect Stonehill Taylor, interior design firms Michaelis Boyd and David Rockwell, who designed the restaurant and underground lounge. Other amenities will include a coworking lounge, fitness center and three meeting rooms. Completion is slated for late 2022.

October 5, 2021

Affordable Housing Development Multifamily New Jersey Northeast

J.G. Petrucci Breaks Ground on 172-Unit Mixed-Income Project in East Orange, New Jersey

by Taylor Williams October 5, 2021

EAST ORANGE, N.J. — J.G. Petrucci Co. Inc. has broken ground on The Station at East Orange, a 172-unit mixed-income residential community in Northern New Jersey. Thirty percent of the property’s one-, two- and three-bedroom units will be designated as affordable housing, with an area median income range starting at 30 percent to the upper limit of HUD requirements. Amenities will include a fitness center, business center, open terrace courtyards, an art gallery and 3,477 square feet of retail space. Completion is slated for 2022.

October 5, 2021

Acquisitions Georgia Retail Southeast

Stan Johnson Co. Brokers $3.3M Sale of Thomson Plaza Shopping Center Near Augusta, Georgia

by Julia Sanders October 5, 2021

THOMSON, GA. — Stan Johnson Co. has brokered the sale of Thomson Plaza, a 96,495-square-foot retail center located at 308-324 W. Hill St. in Thomson, about 33 miles west of Augusta. Doug Clyburn and Julie Clyburn of Stan Johnson Co. represented the seller, an entity doing business as Thomson Plaza LLLP, which had owned the grocery-anchored property for over 49 years. A private 1031 exchange buyer from Statham, Ga., purchased the shopping center for approximately $3.3 million. Thomson Plaza is a KJ’s Market-anchored community center situated on more than 10.5 acres. The retail center was 98 percent leased at the time of sale to 13 tenants including Bealls Outlet, Family Dollar, Aaron’s and Subway. Built in 1972, the property had renovations done in 1990.

October 5, 2021

Loans Massachusetts Multifamily Northeast

MMCC Places $5.1M Loan for Refinancing of Multifamily Asset in Worcester, Massachusetts

by Taylor Williams October 5, 2021

WORCESTER, MASS. — Marcus & Millichap Capital Corp. (MMCC) has placed a $5.1 million loan for the refinancing of a 46-unit multifamily property located at 44 Byron St. in Worcester. Robert Damigella of MMCC arranged the loan, which carried a 10-year term, fixed interest rate of 3.5 percent and a 30-year amortization schedule. The borrower and direct lender were not disclosed.

October 5, 2021

Leasing Activity New York Northeast Office

Newrez Signs 25,000 SF Office Lease at 799 Broadway in Manhattan

by Taylor Williams October 5, 2021

NEW YORK CITY — Newrez LLC, a tech-centric mortgage lending platform, has signed a 25,000-square-foot office lease at 799 Broadway, a 182,000-square-foot building in development at the convergence of Manhattan’s Greenwich Village and Union Square neighborhoods. Josh Kuriloff and Drew Braver of Cushman & Wakefield represented the tenant in the lease negotiations. JLL represented the developer, Columbia Property Trust.

October 5, 2021

Acquisitions Office Retail Southeast Virginia

Kroger Sells Former Regional Headquarters Office in Roanoke for $3.1M

by Julia Sanders October 5, 2021

ROANOKE, VA. — Kroger LP I has sold its former regional headquarters located at 3631 Peters Creek Road in Roanoke. Fenton Childers and Austin Newman of S.L. Nusbaum Realty Co. represented Kroger in the transaction. The buyer, Roanoke-based The Branch Group Inc., purchased the property for $3.1 million. Steve Zegarski and Jason Fountain of Waldvogel Commercial Properties Inc. represented the buyer. Built in 1983, the 58,690-square-foot, two-story office building sits on 9.5 acres and functioned as Krogers regional headquarters for the Mid-Atlantic division. Kroger occupied the property until 2020.

October 5, 2021

Acquisitions Healthcare Midwest Wisconsin

Physicians Realty Trust Agrees to Acquire Medical Office Portfolio for $764.3M

by Kristin Harlow October 5, 2021

MILWAUKEE — Physicians Realty Trust (NYSE: DOC), through its operating partnership Physicians Realty LP, has agreed to acquire a 15-building medical office portfolio for $764.3 million. The Class A buildings are located in eight states and comprise approximately 1.4 million square feet. The portfolio is roughly 95 percent leased. Each of the buildings are either located on a health system campus or are affiliated with a health system. The transaction is expected to close before the end of the year. The seller and property names were undisclosed. Physicians Realty Trust is a Milwaukee-based healthcare real estate company that acquires, develops, owns and manages properties that are leased to physicians, hospitals and healthcare delivery systems.

October 5, 2021

Development Industrial Midwest Ohio

Gabe’s to Build $77.5M Distribution Center in Springfield, Ohio

by Kristin Harlow October 5, 2021

SPRINGFIELD, OHIO — Gabriel Brothers Inc. (Gabe’s) has unveiled plans to open an 850,000-square-foot distribution center in Springfield, about 45 miles west of Columbus. Located at 1801 Prime Parkway within the PrimeOhioII Industrial Park, the $77.5 million project will be the company’s largest distribution center. Construction at the 114-acre site is set to begin in mid-October. The facility is expected to open in February 2023. The project will create more than 800 full-time and part-time jobs over five years. Positions will include material handlers, packers, sorters, equipment operation, truck drivers, counters, maintenance, administration, supervisors and managers. JLL coordinated site selection, business consulting and project management services on behalf of Gabe’s, which is a discount retailer that offers apparel, footwear and home goods. NorthPoint Development will serve as developer.

October 5, 2021

Newer Posts

Older Posts