Property Type

Kalterra Capital Sells 213-Unit Apartment Community in Waxahachie, Texas

by Taylor Williams May 5, 2021

WAXAHACHIE, TEXAS — Dallas-based Kalterra Capital Partners has sold Park Place, a 213-unit apartment community located on a 12-acre site in Waxahachie, about 30 miles south of Dallas. Park Place features one-, two- and three-bedroom units with private yards and attached garages, as well as a pool, fitness center, a dog park and courtyards. The seller and sales price were not disclosed. Kalterra Capital Partners plans to break ground on another multifamily and an active adult project in Waxahachie later this year.

May 5, 2021

Acquisitions Restaurant Retail Texas

Stream Capital Partners Arranges $29M Sale-Leaseback of Texas Restaurant Portfolio

by Taylor Williams May 5, 2021

CHICAGO — Chicago-based Stream Capital Partners LLC has arranged a $29 million sale-leaseback of a portfolio of nine quick service restaurants located throughout Texas. Palenque Group, which operates 34 restaurants throughout the state under the Taco Palenque, Pollo Palenque and Palenque Grill brands, was the seller and will continue to occupy the properties. The buyer was not disclosed. Chelsea Mandel of Stream Capital Partners brokered the deal.

May 5, 2021

Acquisitions Multifamily Texas

Vanguard Real Estate Brokers Sale of 80-Unit Multifamily Asset in Hallsville, Texas

by Taylor Williams May 5, 2021

HALLSVILLE, TEXAS — Dallas-based Vanguard Real Estate Advisors has brokered the sale of Stonegate Apartments, an 80-unit multifamily asset in Hallsville, about 140 miles east of Dallas. The property features one- and two-bedroom units. Jordan Cortez, Justin Tidwell and Chris Lussier of Vanguard represented the locally based seller, Stiles Family Properties LP, in the transaction. The buyer was an undisclosed investor based in California.

May 5, 2021

Leasing Activity Office Texas

Vantage Bank Texas Signs 15,000 SF Office Lease at Triune Centre in Fort Worth

by Taylor Williams May 5, 2021

FORT WORTH, TEXAS — Vantage Bank Texas has signed a 15,000-square-foot office lease to be the anchor tenant at Triune Centre, a 30,000-square-foot office development at 3400 West Freeway in Fort Worth. Cullen Donohue, Seth Koschak, Chris Doggett and Vic Meyer of Stream Realty Partners represented the landlord, a partnership between Cornerstone Projects Group and Trident Structures, in the lease negotiations. Theron Bryant of Transwestern represented Vantage Bank Texas. Construction of the building is set to begin this quarter and to be complete next summer.

May 5, 2021

Loans New York Northeast Office

Meridian Capital Arranges $107.7M Loan for Refinancing of 55 Broadway Office Building

by Taylor Williams May 5, 2021

NEW YORK CITY — Meridian Capital has arranged a $107.7 million senior loan for the refinancing of 55 Broadway, a 32-story office building in Manhattan’s Financial District. The 356,059-square-foot building was 89 percent leased at the time of the loan closing to tenants such as The Kingdom of Morocco, Bank of Communications, Syscom and Assurant Inc. As part of the recapitalization, the borrower, Harbor Group International, also received a future funding component of up to $8.4 million for leasing costs. In addition, an undisclosed capital source invested new equity in the property to retire Paramount Group Inc.’s preferred equity and to fund costs associated with significant recent leasing activity at the building. Ronnie Levine and Ben Jacobs of Meridian Capital Group arranged the financing through an undisclosed life insurance company.

May 5, 2021

Development Healthcare Massachusetts Northeast Office

Moderna to Expand Biomanufacturing Campus in Norwood, Massachusetts, by 350,000 SF

by Taylor Williams May 5, 2021

NORWOOD, MASS. — Moderna Inc. will expand its Moderna Technology Center biomanufacturing campus in Norwood, a southern suburb of Boston, by about 350,000 square feet. The biotechnology and pharmaceutical giant plans to renovate and expand its existing production and lab space and has acquired a 240,000-square-foot building on the same campus, ultimately yielding a 50 percent expansion and a total footprint of 650,000 square feet. The expansion will support Moderna’s efforts to ramp up production of its COVID-19 vaccine in late 2021 and early 2022. Moderna originally opened this facility in 2018.

May 5, 2021

Acquisitions Development Industrial Northeast Pennsylvania Retail Self-Storage

WMG Partners Buys Former Department Store in York, Pennsylvania, Plans Self-Storage Conversion

by Taylor Williams May 5, 2021

YORK, PA. — WMG Partners, a subsidiary of Miami-based MCSS Self-Storage Development & Investment, has purchased a 126,000-square-foot department store at 2899 Whiteford Road in York. The company plans to convert the shuttered property, which sits on a 7.5-acre site and was previously occupied by Bon-Ton, into a 900-unit self-storage facility that will be managed by Life Storage. Construction is scheduled to begin in August.

May 5, 2021

Acquisitions Industrial Massachusetts Northeast

Stubblebine Brokers Sale of 60,000 SF Industrial Property in Brockton, Massachusetts

by Taylor Williams May 5, 2021

BROCKTON, MASS. — The Stubblebine Co. has brokered the $5.1 million sale of a 60,000-square-foot industrial building in Brockton, a southern suburb of Boston. The property offers clear heights of 24 to 28 feet and a fully built-out retail showroom. David Skinner, David Stubblebine and James Stubblebine of The Stubblebine Co. represented the seller, FW Webb Co., in the transaction. Mark Donahue of M. Donahue Associates represented the buyer, WB Mason.

May 5, 2021

Leasing Activity New Jersey Northeast Office

Phibro Animal Health Signs 49,577 SF Office Lease Renewal in Teaneck, New Jersey

by Taylor Williams May 5, 2021

TEANECK, N.J. — Phibro Animal Health Corp. has signed a 49,577-square-foot office lease renewal at Glenpointe, a mixed-use development in the Northern New Jersey community of Teaneck that serves as the company’s global headquarters. Susan Mason and Tom Reilly of JLL represented the tenant in the lease negotiations. David Simson, Jeff Schotz, Peter Rossi, Dan Reider and Peter Kasparian of Newmark represented the landlord, Alfred Sanzari Enterprises. In addition to office uses, the Glenpointe campus houses three hotels totaling roughly 700 rooms, a 26,000-square-foot fitness center and multiple food and beverage options.

May 5, 2021

Development Industrial North Carolina Southeast

Doosan Bobcat to Invest $70M for Expansion of Manufacturing Facility in Statesville, North Carolina

by Julia Sanders May 5, 2021

STATESVILLE, N.C. — Heavy equipment manufacturer Doosan Bobcat North America plans to build a $70 million expansion of its manufacturing facility in Statesville. The company’s acquisition of 68 acres adjacent to its existing 92-acre campus will allow for the addition of 500,000 square feet of attached manufacturing space and 80,000 square feet of attached warehouse and distribution space. The project will create 250 full-time jobs over the next five years in Iredell County. Construction is expected to begin in July, with full project completion expected for May 2022.The company previously completed an $11 million facility upgrade at Statesville in January. Doosan Bobcat’s latest expansion will grow the floorplan from nearly 500,000 square feet to more than 1 million square feet when complete. With the expansion, the company plans to hire more people, including positions in production, manufacturing, engineering and operations. Doosan Bobcat North America is based in West Fargo, North Dakota, and is a global manufacturer of construction, agriculture, landscaping and grounds maintenance equipment, attachments and services. Doosan Bobcat employs approximately 4,500 people at 13 facilities across seven states.

May 5, 2021

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