Property Type

Integrity Marketing Group Signs 100,000 SF Office Lease in Dallas Arts District

by Taylor Williams June 22, 2021

DALLAS — Integrity Marketing Group, a distributor of life and health insurance products, has signed a 100,000-square-foot office lease for its new headquarters at Fountain Place, a 58-story building in the Dallas Arts District. CBRE’s Josh White and Ryan Buchanan represented the tenant, which will occupy six floors at Fountain Place as part of its relocation from Coppell, in the lease negotiations. CBRE’s Fletcher Cordell, Dennis Barnes and Jackie Marshall represented the landlord, Goddard Investment Group, which recently completed a $75 million renovation at the property. That project included the addition of a 10-story parking garage, retail and restaurant space and a tenant lounge and conference center.

June 22, 2021

Affordable Housing Loans Multifamily Oklahoma Texas

KeyBank Provides $20.6M Financing for Oklahoma City Affordable Housing Community

by Taylor Williams June 22, 2021

OKLAHOMA CITY — KeyBank’s Community Development Lending and Investment (CDLI) platform has provided $20.6 million in financing for the purchase and renovation of Hillcrest Green Apartments, a 96-unit affordable housing property in Oklahoma City. The financing consists of a $9.3 million construction loan, $7 million in low-income housing tax credit equity from the Key Community Development Corp. and a $4.3 million permanent loan. Units at the Section 8 property include studio, one-, two- and four-bedroom residences that are reserved for renters earning 60 percent or less of the area median income. The borrower was Indianapolis-based developer TWG. Kelly Frank and Ryan Olman of KeyBank’s CDLI team originated the financing.

June 22, 2021

Acquisitions Industrial Texas

Marcus & Millichap Brokers Sale of 58,418 SF Industrial Building in Brownsville, Texas

by Taylor Williams June 22, 2021

BROWNSVILLE, TEXAS — Marcus & Millichap has brokered the sale of a 58,418-square-foot industrial building located on 5.3 acres in the South Texas city of Brownsville. The property was triple net leased to textile recycling company Martex Fiber at the time of sale. Adam Abushagur and Tyler Sharp of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was a California-based private investor. Both parties involved in the transaction requested anonymity.

June 22, 2021

California Development Mixed-Use Multifamily Office Western

Rescore Property, Nadel Architecture Complete 561,600 SF The Rise Residential/Office Project in Hollywood

by Amy Works June 22, 2021

LOS ANGELES — Rescore Property, as developer, and Nadel Architecture + Planning, as architect, have completed construction of The Rise, a seven-story, mixed-use project located at 1331 N. Cahuegna Blvd. in Hollywood. The 561,600-square-foot property features 369 apartments, 13 live/work units and 2,570 square feet of creative office space. Consisting of five buildings linked by pedestrian bridges, The Rise offers 341,600 square feet of residential space on six levels and more than 220,000 square feet of parking space on two levels, with space for 567 cars and 410 bicycles. The project offers a mix of ADA-adaptable micro-units, studios and one- and two-bedroom layouts. Community amenities include a rooftop deck, inner open courtyard, outdoor gym, pool, barbecue grills, fire pits, dog runs with a dog wash unit and outdoor seating with TVs. Additional amenities include a clubhouse with fireplace and pool table, fitness center, lounges, conference rooms, electric-vehicle charging stations and a video screen in the main lobby that displays transit options and status. The Rise also offers a 2,000-square-foot penthouse unit on the seventh floor that can be leased for special events. The penthouse is adjacent to a party room and rooftop deck.

June 22, 2021

Colorado Development Industrial Western

Consolidated Investment Breaks Ground on Two Buildings at Eastpark 70 Industrial Park in Aurora, Colorado

by Amy Works June 22, 2021

AURORA, COLO. — Consolidated Investment Group has started construction of Building 5 and Building 6 at Eastpark 70, a currently four-building, 900,000-square-foot industrial park in northeast Aurora. Building 5 will feature 158,900 square feet, divisible to 40,000 square feet, and Building 6 will offer 77,100 square feet, divisible to 30,000 square feet. The buildings will feature 32-foot clear heights, ESFR sprinklers, dock-high and drive-in loading, trailer parking and office space available to suit. Eastpark 70 is zoned M-1 industrial with approval for outside storage. Completion for Building 5 is slated for January 2022, with delivery of Building 6 scheduled soon thereafter. Todd Witty and Doug Viseur of CBRE are handling leasing for the buildings. Current tenants at Eastpark 70 include UPS, Wayfair and Benjamin Moore.

June 22, 2021

Acquisitions Arizona Office Western

Woodside Health Acquires Arrowhead Executive Center Office Complex in Glendale from Holualoa Cos. for $18.2M

by Amy Works June 22, 2021

GLENDALE, ARIZ. — Cleveland, Ohio-based Woodside Health has purchased Arrowhead Executive Center, a multi-tenant office complex located at 17235 N. 75th Ave. in Glendale. Holualoa Cos. sold the asset for $18.2 million. Steve Lindley of Cushman & Wakefield represented the seller, while Bill Cook and Perry Gabuzzi of Plaza Cos. provided market leasing advisory. Situated on 11.9 acres, Arrowhead Executive Center features eight single-story buildings offering a total of 99,062 square feet of office space. The campus was constructed in 2000.

June 22, 2021

Acquisitions Arizona Mixed-Use Office Retail Western

Nicola Wealth Real Estate Buys Mixed-Use Property in Tempe for $16.7M

by Amy Works June 22, 2021

TEMPE, ARIZ. — Vancouver, Canada-based Nicola Wealth Real Estate has acquired a mixed-use property located in downtown Tempe from Wexford Developments for $16.7 million. Located at 425 S. Mill Ave., the 22,209-square-foot building features three levels of office space above ground-floor retail space. At the time of sale, the property was 100 percent leased to multiple tenants. The property is near the Valley Metro Light Rail station and the new Tempe Streetcar, which is scheduled to open this year. Steve Lindley, Eric Wichterman and Mike Coover of Cushman & Wakefield handled the transaction.

June 22, 2021

Acquisitions Multifamily Washington Western

Berkadia Brokers $14.4M Sale of Capitol Crossing Multifamily Property in Olympia, Washington

by Amy Works June 22, 2021

OLYMPIA, WASH. — Berkadia has arranged the sale of Capitol Crossing, an apartment community located at 1112 Chestnut St. SE in Olympia. The property traded for $14.4 million, or $184,615 per unit. The names of the buyer and seller were not released. Built in 1988 and partially renovated, Capitol Crossing features 78 studio, one- and two-bedroom units. At the time of sale, the community was 95 percent occupied. Steven Chattin, Mitchell Belcher, Jay Timpani and Chad Blenz of Berkadia represented the seller in the deal.

June 22, 2021

Acquisitions Multifamily New York Northeast

Harbor Group International Buys Henry Apartments in Pomona, New York, for $54M

by Taylor Williams June 22, 2021

POMONA, N.Y. — An affiliate of Harbor Group International LLC (HGI) has purchased The Henry, a 169-unit luxury apartment community in Pomona, about 40 miles north of New York City, for $54 million. Built in 2001 and recently renovated, the property’s units feature stainless steel appliances, tile backsplashes and granite countertops. Amenities include a resident clubroom, pool and sundeck, billiards room, fitness center and basketball courts. Jeffrey Dunne, Gene Pride, Jeremy Neuer, Steve Bardsley, David Gavin and Travis Langer of CBRE represented the seller, a joint venture between Spirit Investment Partners and The Bascom Group, in the transaction, and procured the affiliate of HGI as the buyer.

June 22, 2021

1090-Thomas-Busch-Memorial-Highway-Pennsauken

Acquisitions Industrial New Jersey Northeast

CBRE Brokers Sale of 401,827 SF Industrial Portfolio in Southern New Jersey

by Taylor Williams June 22, 2021

BURLINGTON, PENNSAUKEN AND MOUNT LAUREL, N.J. — CBRE has negotiated the sale of the Southern NJ Logistics Portfolio, a collection of three buildings totaling 401,827 square feet in Southern New Jersey. The properties are located in Burlington, Pennsauken and Mount Laurel. High Street Logistics Properties purchased the portfolio, which was fully leased at the time of sale, from a private developer based in the region. Michael Hines, Brian Fiumara, Brad Ruppel, Joe Hill and Lauren Dawicki of CBRE brokered the transaction.

June 22, 2021

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