SAN ANTONIO — McLane Foodservice Distribution Inc., a subsidiary of Berkshire Hathaway-owned logistics firm McLane Co., has signed a 248,500-square-foot industrial lease at Foster Ridge Industrial Park in San Antonio. Fred Deal, Bob Luttrell, Michael Quint and Adam Faulk of Newmark represented the tenant, which is based in Temple, Texas, in the lease negotiations. Cavender & Hill represented the landlord, Foster Ridge M Owner LLC.
SAN ANTONIO — Lument, a subsidiary of ORIX Capital USA, has provided a Freddie Mac loan of an undisclosed amount for the refinancing of Horizon Hill, a 273-unit multifamily asset in San Antonio that was built in 1982. John Sloot of Lument originated the debt, which was structured with a 10-year term, four years of interest-only payments and a 30-year amortization schedule. The sponsor, REEP Equity, purchased the property in 2018 and has since implemented a value-add program.
MOUNT PLEASANT, S.C.— SRS Real Estate Partners’ National Net Lease Group has brokered the $7.4 million sale of The Shops at Gregorie Landing, a shopping center located at 2966 Hwy 17 N in Mount Pleasant. Parker Walter, Matthew Mousavi and Patrick Luther of SRS represented the buyer, a private investor from the Northeast who was in a 1031 exchange, in the transaction. Benjy Cooke of Oswald Cooke & Associates represented the seller, an unnamed South Carolina-based developer. The Shops at Gregorie Landing is located approximately 12 miles from Charleston and 11 miles from the South Carolina Aquarium. Completed in 2020, the 11,125-square-foot property is situated on 1.6 acres. The newly constructed three-tenant retail property is fully occupied by Panera Bread, TD Bank and Heartland Dental who have all signed long-term, triple net leases.
AMARILLO, TEXAS — General contractor Adolfson & Peterson Construction, in partnership with Potter County, has broken ground on the new District Courts Building, a 158,250-square-foot civic project in Amarillo. Designed by HOK Group, the five-story building will house courtrooms, a jury assembly room, county offices, holding areas and records storage space. Completion is slated for late 2022.
RUSTBURG, VA. — S.L. Nusbaum Realty Co. has arranged the $4.7 million sale of Rustburg Marketplace, a 46,700-square-foot shopping center in Rustburg. The Kent Mall LLC, a private real estate investment company based in Pennsylvania, purchased the center from Rustburg Ventures LLC. The center, anchored by Food Lion, was fully leased at the time of sale to nine local and national tenants including Family Dollar, Virginia ABC, Domino’s Pizza and Subway. According to the brokers, 88 percent of the tenants at Rustburg Marketplace have been in place for more than 20 years.
OWENSBORO AND PADUCAH, KY. — DLP Real Estate Capital has acquired the Chandler Park multifamily property portfolio, which consists of two Kentucky communities in Owensboro and Paducah. The 560-unit portfolio includes one-, two- and three-bedroom units and marks DLP’s first expansion in Kentucky. The seller, Chandler Apartment Homes, sold Owensboro for $35.4 million and Paducah for $25.7 million. Built in 2014, the 320-unit Chandler Park, Owensboro is located at 3750 Ralph Ave. The property sits on over 17 acres with 17 residential buildings and includes a swimming pool, fitness center and green space with grills. The apartments have open floor plans, patios and balconies, stainless steel appliances, granite countertops and are pet-friendly. Built in 2016, the 240-unit Chandler Park, Paducah is located at 2651 Perkins Creek Drive. The property sits on almost 12 acres with seven apartment buildings and includes a swimming pool, fitness center, clubhouse and dog park. The apartments have open floor plans, stainless steel appliances with granite countertops, private patios and balconies and are pet-friendly. Brian Devlin, Brandon Wilson and John Seale of The Kirkland Co. brokered the portfolio sale. Kirkland Co., based in Nashville, is a brokerage firm that specializes in the sale of apartment communities …
PENNSAUKEN, N.J. — NAI Mertz has negotiated the sale of a 116,284-square-foot industrial building located at 1700 Suckle Highway in Pennsauken, located outside of Philadelphia in the southern part of the state. The newly renovated building is situated on a 7.7-acre lot. Scott Mertz of NAI Mertz represented the landlord, The Seyon Group, in the transaction. The buyer, Scrub Daddy, a provider of cleaning tools known for its appearance on the TV show “Shark Tank,” purchased the building for $10.7 million.
CHESTER, VA. — Cushman & Wakefield | Thalhimer has facilitated the $1.9 million sale of approximately six acres of land located on the corner of Route One at Moore’s Lake Road in Chester. David Smith of Cushman & Wakefield | Thalhimer handled the sale negotiations on behalf of the sellers, Americana Park LLC and Trollingwood Land LLC. Bon Secours St. Francis Medical Center, a medical center located in Midlothian, Va., purchased the property for the development of a freestanding emergency clinic.
MONTVALE, N.J. — Thrive Senior Living will open the welcome center on March 27 at Thrive at Montvale, a seniors housing community in the Northern New Jersey city of Montvale. The three-story building is located near Lake Tappan along the New York State border just north of Manhattan and will feature 203 units of independent living, assisted living and memory care.
ROMEOVILLE AND BEDFORD PARK, ILL. — Duke Realty (NYSE: DRE) is underway on construction of two build-to-suit industrial developments totaling 1.8 million square feet in metro Chicago. The first project is a 1.2 million-square-foot fulfillment center for Wayfair at Airport Logistics Center in Romeoville. The project is situated on nearly 82 acres at 1040 W. Renwick Road and is part of the business park’s second phase of development. Wayfair will fully occupy the facility and expects to employ as many as 500 workers during peak times of the year. Duke worked closely with tenant representative brokers John Suerth and Jon Varholak of CBRE and as well as listing brokers Jason West and Sean Henrick of Cushman & Wakefield. The second project is a 655,200-square-foot facility for a national home improvement retailer in Bedford Park. Located at 6600 W. 68th St., the property will service same-day and next-day delivery needs for customers with close proximity to I-294 and I-55. Plans call for 46 dock doors, 293 trailer spaces and 205 car spaces. Tony Kepano and Matt Mulvihill of CBRE served as the tenant representative and Chris Gary of NAI Hiffman served as the listing broker.