Property Type

Kayne Anderson, Watermark Open 189,000 SF Adaptive Reuse Senior Living Community in Los Angeles

by Julia Sanders May 14, 2021

LOS ANGELES — Kayne Anderson Real Estate and Watermark Retirement Communities have opened The Watermark at Westwood Village, a high-rise seniors housing community in Los Angeles. The community is the latest addition to Watermark Retirement Communities’ Elan Collection, a group of high-end senior living communities. The property offers independent living, assisted living and memory care. The Watermark at Westwood Village was previously a University of California, Los Angeles (UCLA) dormitory dating back to the 1960s, before going through a four-year renovation. The property has 188 residences with studio, one- and two- bedroom apartments. The fully renovated property includes two 14-story towers totaling 189,000 square feet. The asset features four dining venues. Taboon serves Mediterranean-inspired food, while The W Lounge serves traditional food along with cocktails, beer and wine. The Gallery Café offers coffee and small food options. Also, Watermark at Westwood Village offers dedicated room service or catering for events at the property’s private dining rooms. The community also features a salon and spa; library and lounge; event space; fitness and wellness center; and a courtyard with a fireplace and private dog run. Residents will have access to 24-hour assistance from onsite associates who provide room service, transportation, pet care …

May 14, 2021

Industrial Leasing Activity Texas

Southwest Warehouse Services Signs 175,000 SF Cold Storage Lease in Denton

by Taylor Williams May 14, 2021

DENTON, TEXAS — Southwest Warehouse Services, a Fort Worth-based logistics company, has signed a 175,000-square-foot lease at a 374,560-square-foot speculative cold storage facility in the North Texas city of Denton. Cold Creek Solutions is the developer of the project, which features 45-foot clear heights, 65 trailer parking spaces and multi-temperature zones. MCM Real Estate Advisors LLC represented the tenant in the lease negotiations. Cold Creek Solutions was self-represented. Construction is scheduled to begin in the third quarter and to be complete in the second quarter of 2022.

May 14, 2021

Acquisitions Industrial Texas

PHP Capital Acquires Three Industrial Properties Totaling 194,784 SF in Dallas-Fort Worth

by Taylor Williams May 14, 2021

ARLINGTON, GRAND PRAIRIE AND NORTH RICHLAND HILLS, TEXAS — PHP Capital Partners, a newly launched investment firm, has acquired three industrial properties totaling 194,784 square feet in the Dallas-Fort Worth metroplex. The properties include a 96,124-square-foot building in Arlington; a 37,400-square-foot complex in Grand Prairie; and a 61,260-square-foot asset in North Richland Hills. Additional terms of the deals were not disclosed.

May 14, 2021

Acquisitions Hospitality Texas

Marcus & Millichap Arranges Sale of 79-Room Hotel in Beeville, Texas

by Taylor Williams May 14, 2021

BEEVILLE, TEXAS — Marcus & Millichap has arranged the sale of Yonder Inn Beeville, a 79-room hotel located about 65 miles north of Corpus Christi in South Texas. Matt Omansky, Allan Miller and Chris Gomes of Marcus & Millichap represented the seller, a private investor, in the transaction. Miller and Gomes, along with Andrew Frosch and Joseph Manuel of Marcus & Millichap, also procured a locally based investment group as the buyer. Both parties requested anonymity.

May 14, 2021

Industrial Leasing Activity Texas

Newmark Negotiates 63,000 SF Industrial Sublease in Fort Worth

by Taylor Williams May 14, 2021

FORT WORTH, TEXAS — Newmark has negotiated a 63,000-square-foot industrial sublease at Valley View Business Center in Fort Worth. Frank Puskarich, Jim Cooksey, Louis Pascuzzi and Reid Halverson of Newmark represented the subtenant, linen manufacturer Brunton International Inc., in the lease negotiations. The representative of the sublandlord, Tosca Services Inc., was not disclosed.

May 14, 2021

Acquisitions Multifamily Northeast Pennsylvania

Radnor Property Group Begins Leasing Phase II of Hamilton Apartments in Philadelphia

by Taylor Williams May 14, 2021

PHILADELPHIA — Locally based developer Radnor Property Group has begun leasing the 297-unit second phase of The Hamilton, a two-building, 576-unit apartment community located in the Logan Square area of Philadelphia. The Hamilton features studio, one-, two- and three-bedroom units with quartz countertops, stainless steel appliances and individual washers and dryers. Amenities include two media rooms, two game rooms, conference centers, kitchen spaces, multiple coworking lounges and a rooftop deck with outdoor grilling stations and a sports simulator. The building will also house 2,820 square feet of retail space upon full completion. Rents start at $1,420 per month for a studio unit. Greystar manages the community.

May 14, 2021

Development Loans Multifamily New Jersey Northeast

JLL Arranges $48M Construction Loan for Multifamily Project in Elmwood Park, New Jersey

by Taylor Williams May 14, 2021

ELMWOOD PARK, N.J. — JLL has arranged a $48 million construction loan for the third phase of Riverwalk, a project that will add 240 luxury rental units to the local supply of Elmwood Park, located in Bergen County. The previous phases of the Riverwalk master-planned community featured 158 units within two buildings that were constructed between 2012 and 2014, as well as retail, office and medical office space. The third phase will also include amenities such as a fitness center, business center, pool and clubhouse. Thomas Didio and Thomas Didio Jr. of JLL arranged the financing through Investors Bank and Provident Bank. Leasing is expected to begin in 18 to 24 months.

May 14, 2021

Acquisitions New York Northeast Retail

First National Realty Buys 166,634 SF Grocery-Anchored Shopping Center Near Buffalo

by Taylor Williams May 14, 2021

LOCKPORT, N.Y. — New Jersey-based private equity firm First National Realty Partners has purchased Tops Plaza, a 166,634-square-foot shopping center located outside of Buffalo in Lockport. A 92,000-square-foot Tops grocery store anchors the property, which was 97 percent leased at the time of sale. The seller and sales price were not disclosed.

May 14, 2021

Acquisitions Industrial New Jersey Northeast

Legacy Capital Acquires 60,400 SF Industrial Building in Carlstadt, New Jersey

by Taylor Williams May 14, 2021

CARLSTADT, N.J. — Legacy Capital has acquired 2 Palmer Terrace, a 60,400-square-foot industrial building located outside of New York City in Carlstadt. The property was originally built on three acres in 1977 and renovated in 2014. Building features include 17- to 39-foot clear heights and four oversized drive-in doors. Matthew Pizzolato and Thomas Didio Jr. of JLL arranged an undisclosed amount of acquisition financing through Sound Point Commercial Real Estate Finance for the deal. The property was triple net leased to Sofive Soccer Centers at the time of sale.

May 14, 2021

Industrial Leasing Activity New Jersey Northeast

ePost Global Signs 41,256 SF Industrial Lease in South Hackensack, New Jersey

by Taylor Williams May 14, 2021

SOUTH HACKENSACK, N.J. — ePost Global Inc., a California-based provider of global delivery solutions, has signed a 41,256-square-foot industrial lease at 18 Central Blvd. in South Hackensack, located in the northern part of the state. Jason Fisch of F. Greek Development Inc. represented the tenant in the lease negotiations. Stephen Jennings represented the landlord, Alfred Sanzari Enterprises, on an internal basis.

May 14, 2021

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