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.
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.
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.
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.
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.
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.
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.
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.
ALGONQUIN, ILL. — Red Mountain Group Inc. has acquired Algonquin Commons, a 600,000-square-foot power center in Algonquin, a northwest suburb of Chicago. The purchase price and seller were undisclosed. Located at 1504-2298 S. Randall Road, the center sits on 70 acres. Built in 2004, the property is 75 percent occupied by tenants such as Trader Joe’s, Ulta, Nordstrom Rack, DSW, Pottery Barn, Victoria’s Secret, Express, On the Border and Bonefish Grill. Red Mountain plans to invest nearly $30 million for the renovation and repositioning of the asset. Plans call for an indoor-outdoor covered entertainment area with an acre of open space. While in escrow, Red Mountain executed a new lease with Ashley Furniture. The company says it is currently working with two other large-format national retailers. Red Mountain’s portfolio comprises 95 shopping centers across 18 states.
CHICAGO — KBS has begun a $22 million renovation project at Accenture Tower, a 40-story office building in downtown Chicago. Planned upgrades include a new lobby, conference center, tenant lounge and an outdoor deck with a fire pit and bar area. Chicago-based GREC Architects designed the renovation plans. In addition to the building upgrades, KBS is adding 90,000 square feet of spec suites, which involves building out tenant suites without a committed tenant. Originally built in 1987, Accenture Tower spans nearly 1.5 million square feet. It features a 14,000-square-foot fitness center and more than 20 dining options. Its first two levels feature 80,000 square feet of retail space. Commercial real estate owner KBS is working with Leonardo Cos. on the planned upgrades. Wendy Katz and Matt Lerner of Stream Realty are the leasing agents for the property.