Property Type

Woodbridge-Corporate-Plaza-Iselin-New-Jersey

KBS Sells Woodbridge Corporate Plaza Office Complex in Iselin, New Jersey, for $88M

by Taylor Williams May 26, 2021

ISELIN, N.J. — California-based investment firm KBS has sold Woodbridge Corporate Plaza, a 629,189-square-foot office complex in Iselin, located in the northern part of the Garden State, for $88 million. Kevin Welsh, Brian Schulz, Jason Emrani, Maria Betancourt and Jamie Drummond of Newmark represented KBS, which originally purchased the asset in 2005 and implemented a multimillion-dollar renovation program, in the transaction. Amenities include a 6,000-square-foot fitness center, full-service café and shuttle service to the nearby Metropark transit hub. The buyer was New York-based Northeast Capital Group. The six-building property was 90 percent leased to a roster of 64 tenants at the time of sale.

May 26, 2021

Loans Multifamily New Jersey Northeast

Thorofare Capital Provides $30.8M Loan for Redevelopment of Newark Apartment Tower

by Taylor Williams May 26, 2021

NEWARK, N.J. — New Jersey-based Thorofare Capital has provided a $30.8 million loan for the redevelopment of a 25-story apartment tower located at 440 Elizabeth Ave. in Newark. Formerly known as Carmel Towers, the property consists of 216 units within a structure that was originally built in 1969 but has been vacant since 2012. The redevelopment will upgrade the flooring, appliances, fixtures and utility systems of the units. The project will also add enhanced amenities like a gym, bike room and a laundry room. Jonathan Bodner and Emanuel Westfried of Two Bins Capital arranged the loan on behalf of the sponsor, The Chetrit Group.

May 26, 2021

Industrial Loans New Jersey Northeast

G.S. Wilcox Arranges $29.5M in Financing for Warehouse in South Brunswick, New Jersey

by Taylor Williams May 26, 2021

SOUTH BRUNSWICK, N.J. — G.S. Wilcox has arranged two loans totaling $29.5 million for the refinancing of a 449,000-square-foot warehouse in South Brunswick, located in Middlesex County. Gretchen Wilcox and Albert Raymond of G.S. Wilcox arranged the debt through Thrivent Financial on behalf of the borrower, a New Jersey-based family office. The loans were both structured with 15-year terms and fixed interest rates.

May 26, 2021

Development New Jersey Northeast Office

S. Hekemian Group Completes 52,000 SF Office, Retail Project in Montvale, New Jersey

by Taylor Williams May 26, 2021

MONTVALE, N.J. — New Jersey-based developer S. Hekemian Group has completed Workplace North Market, a 52,000-square-foot office and retail project in the Northern New Jersey community of Montvale. The four-story building consists of 40,500 square feet of office space and 11,500 square feet of retail space. Law firm Beattie Padovano LLC has preleased 20,000 square feet at Workplace North Market as the anchor tenant.

May 26, 2021

Acquisitions District of Columbia Loans Retail Southeast

EagleBank Provides $26M Loan for Acquisition, Redevelopment of Mazza Gallerie in D.C.

by Julia Sanders May 26, 2021

WASHINGTON, D.C. — EagleBank, a community bank in the Washington, D.C., area, has provided $26 million in acquisition financing for the revitalization of Mazza Gallerie, a landmark retail space in D.C.’s Friendship Heights neighborhood. The borrower, Tishman Speyer, a real estate developer and owner based in New York City, will use the loan to fund both the purchase of the property and the ground-up construction of approximately 350 apartments and 26,000 square feet of ground-floor retail at the site. Barb Mackin, Sameera Rizvi and Jeniffer Mejia of EagleBank originated the loan, the terms of which were not disclosed. Mazza Gallerie is situated on the Wisconsin Avenue retail corridor and is adjacent to the Friendship Heights Metro rail station. The property has access to walkable outdoor amenities and 440,000 square feet of shops and restaurants.

May 26, 2021

Acquisitions Northeast Pennsylvania Retail

Colliers Negotiates Sale of 37,840 SF Retail Center in Hamburg, Pennsylvania

by Taylor Williams May 26, 2021

HAMBURG, PA. — Colliers International has negotiated the sale of a 37,840-square-foot retail center located at 552 State St. in the Lehigh Valley city of Hamburg. Pennsylvania-based grocer Weis Markets anchors the center. Scott Horner and Derek Zerfass of Colliers represented the seller, private investor Linda King, in the transaction. The duo also procured the buyer, Sar & Co.

May 26, 2021

Acquisitions Georgia Industrial Southeast

Dalfen Industrial Buys Three Properties in Alpharetta, Georgia Totaling 284,000 SF

by Julia Sanders May 26, 2021

ALPHARETTA, GA. — Dalfen Industrial has bought three Class A industrial properties in Alpharetta, adding 284,000 square feet to its metro Atlanta portfolio. The properties are located less than two miles from Ga. Highway 400. The price and the seller were not disclosed. Built in 2016 to 2019 by Childress Klein, the properties were fully leased at the time of acquisition to tenants including Ericsson and ABC Supply. The buildings have amenities including 24 foot clear heights, rear-load configuration, 100 dock-high doors and one drive-in door, as well as parking.

May 26, 2021

Acquisitions Maryland Multifamily Southeast

Harbor Group International Sells 748-Unit Multifamily Community in Metro D.C.

by Julia Sanders May 26, 2021

GAITHERSBURG, MD. — Harbor Group International LLC (HGI) has sold The Gateway, a 748-unit apartment community in Gaithersburg, a Maryland suburb of Washington, D.C. The buyer was Bridge Investment Group and the sales price was not disclosed. The Gateway was previously known as Jefferson at Orchard Pond. HGI acquired the property in 2015 and instituted a capital improvement program that included an HVAC conversion project to decrease net utility costs of the property, as well as addressing deferred maintenance, improve curb appeal and renovating the interiors of 200 units. HGI also added outdoor kitchen stations and two dog parks, as well as improvements to the property’s clubhouse, tennis courts and other common spaces. Completed in 1975, The Gateway is located in Montgomery County, an area known as a hub for large biotechnology firms clustered around the National Institutes of Health (NIH). The apartment community is situated close to the Metropolitan Grove MARC rail station and near the Shady Grove Metro Station. The property is also close to Interstates 270 and 370.

May 26, 2021

Acquisitions Mississippi Multifamily Southeast

DLP Real Estate Capital Acquires 234-Unit Lafayette Place Apartments in Oxford, Mississippi

by Julia Sanders May 26, 2021

OXFORD, MISS. — DLP Real Estate Capital has acquired Lafayette Place, a 234-unit multifamily property located in Oxford. Lafayette Place has been renamed as DREAM Oxford. The sales price and seller were not disclosed. Built in 2009, Lafayette Place is located less than one mile from the University of Mississippi campus. The community sits on 9.3 acres and includes both one- and two-bedroom units with an average size of 723 square feet. Community amenities include a resort-style saltwater pool, beach volleyball court, 24-hour fitness center with a clubhouse and an outdoor grilling area.

May 26, 2021

Loans Midwest Multifamily Ohio

Grandbridge Arranges $8.5M Loan for Refinancing of Apartment Property in Zanesville, Ohio

by Kristin Harlow May 26, 2021

ZANESVILLE, OHIO — Grandbridge Real Estate Capital LLC has arranged an $8.5 million loan for the refinancing of Kensington Village Apartments Phase I, a 156-unit property in Zanesville, about 55 miles east of Columbus. Developed in 2007 and 2008, the community sits on 21.3 acres. Amenities include a clubhouse and pool. Ken Bowen and Ben Williams of Grandbridge’s Columbus office arranged the fixed-rate loan through Freddie Mac. The borrower was undisclosed.

May 26, 2021

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