Property Type

STAG Industrial Acquires 80,000 SF Industrial Building Near Minneapolis

by Kristin Harlow March 12, 2021

INVER GROVE HEIGHTS, MINN. — STAG Industrial Inc. has acquired an 80,000-square-foot industrial building in Inver Grove Heights, about 20 miles southeast of Minneapolis. The property was recently completed as a build-to-suit for Simpson Strong-Tie, a provider of structural products for the construction of homes and buildings. Known as InverPoint Business Park I, the building features a clear height of 24 feet, a training center and roughly 7,200 square feet of office space. Judd Welliver, Ryan Watts, Sonja Dusil, Bentley Smith and Tom Holtz of CBRE Minneapolis represented the developer and seller, United Properties. The property is the first of five planned projects to be completed in the InverPoint Business Park.

March 12, 2021

Acquisitions Multifamily Texas

MLG Capital Acquires 384-Unit Pecos Flats Apartments in San Antonio

by Taylor Williams March 12, 2021

SAN ANTONIO — Wisconsin-based investment firm MLG Capital has acquired Pecos Flats, a 384-unit apartment community in the Westover Hills area of San Antonio. The property offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, resident clubhouse, coffee bar, dog park and a pet washing station. The transaction marks MLG Capital’s first investment in San Antonio and 40th residential acquisition in Texas. The seller was not disclosed.

March 12, 2021

Industrial Leasing Activity Texas

Flexible Co-Warehousing Operator Saltbox Opens 66,000 SF Facility in Metro Dallas

by Taylor Williams March 12, 2021

FARMERS BRANCH, TEXAS — Saltbox, a purpose-built, flexible co-warehousing space for entrepreneurs and startups, has opened its second location in Farmers Branch. The 66,000-square-foot facility offers 100 private co-warehousing suites and 15 office spaces, in addition to an array of modern office amenities and conveniences. Saltbox opened its first 27,000-square-foot facility in Atlanta in 2019.

March 12, 2021

Industrial Leasing Activity NAI Texas

NAI Partners Negotiates 23,172 SF Industrial Lease in Metro Austin

by Taylor Williams March 12, 2021

ROUND ROCK, TEXAS — NAI Partners has negotiated a 23,172-square-foot industrial lease for Westwinds Wholesale Doors in the northern Austin suburb of Round Rock. The company will occupy space within Settlers Crossing, which is a four-building industrial park spanning approximately 330,000 square feet, according to the Austin Chamber of Commerce. NAI Partners’ Troy Martin represented the tenant in the lease negotiations. Adam Green with Stream Realty represented the landlord.

March 12, 2021

Acquisitions Hawaii Net Lease Retail Western

Realty Income Corp. Buys 21-Property Convenience Store Portfolio in Hawaii for $109.4M

by Amy Works March 12, 2021

HAWAII — A subsidiary of Realty Income Corp. has acquired a 21-property gas station/convenience store portfolio located throughout Hawaii. Par Pacific Holdings sold the portfolio in a fee-simple sale-leaseback transaction for $109.4 million. The portfolio includes 12 properties in O’ahu, two facilities in Kauai, four properties in Maui and three properties on the island of Hawaii. The transaction also included a new master lease agreement to lease back the sites on a triple-net basis. D. Andrew Ragsdale, Ken Hedrick, Jerry Hopkins, Kristian Neilson and John Curtis of Newmark’s Net Lease Capital Market, in cooperation with Jackson Nakasone of NAI CBI Hawaii, represented the seller in the transaction.

March 12, 2021

Mountain-West-Industrial-Park-Las-Vegas-NV

Development Industrial Nevada Western

Nigro Construction Begins First Phase of Mountain West Warehouse Project in Las Vegas

by Amy Works March 12, 2021

LAS VEGAS — Nigro Construction has started construction of Mountain West Industrial Park in southwest Las Vegas. The 252,900-square-foot warehouse project is located at 7210 W. Post Road. The first phase consists of three industrial shell buildings on 16.5 acres, with completion slated for third-quarter 2021. The first phase will offer units ranging from 6,400 square feet to 71,500 square feet with 30-foot minimum clearance heights in the warehouse areas, 10-foot glass storefront office entries and metal canopies. The second phase includes an additional 45,000 square feet of industrial space on the remaining acres of the property.

March 12, 2021

Loans Multifamily New York Northeast Seniors Housing

HJ Sims Places $30M in Financing for Continuing Care Retirement Community in Valhalla, New York

by Taylor Williams March 12, 2021

VALHALLA, N.Y. — HJ Sims has placed $30 million in financing for The Bethel Methodist Home and its continuing care retirement community, The Knolls, in Valhalla, approximately 25 miles north of Midtown Manhattan. The community, which opened in 2002 under the name Westchester Meadows, offers independent living, assisted living and skilled nursing services on one campus.

March 12, 2021

14023-14033-Denver-West-Pkwy-Lakewood-CO

Acquisitions Colorado Office Western

Flywheel Capital Acquires 127,297 SF Office Property in Colorado from HighBrook Investors

by Amy Works March 12, 2021

LAKEWOOD, COLO. — Denver-based Flywheel Capital has purchased an office property located on 16.7 acres at 14023 and 14033 Denver West Parkway in Lakewood. New York-based HighBrook Investors sold the asset for an undisclosed price. Totaling 127,297 square feet, the asset features two three-story buildings connected by a first-floor walkway. On-site amenities include more than 1,000 parking spaces; a deli/cafeteria; break rooms on each floor of both buildings; a game room with ping pong, billiards and foosball; and an outdoor plaza with a basketball court and patio. Additionally, the site offers immediate access to South Table Mountain Recreation Area. Tim Richey, Charley Will, Jenny Knowlton, Chad Flynn and Anthony DeLorenzo of CBRE Capital Markets Institutional Properties represented the seller in the transaction. Brady O’Donnell, Jeff Halsey and Jill Haug of CBRE’s Debt & Structured Finance group arranged acquisition financing for the buyer. The acquisition represents Flywheel Capital’s second transaction in Colorado as part of its joint venture with a Latin America-based partner.

March 12, 2021

Acquisitions Industrial NAI New Hampshire Northeast Self-Storage

NAI Norwood Negotiates Sale of 321-Unit Self-Storage Facility in Hudson, New Hampshire

by Taylor Williams March 12, 2021

HUDSON, N.H. — NAI Norwood Group has negotiated the sale of Hudson Self Storage, a 321-unit facility in Hudson, located outside Nashua near the New Hampshire-Massachusetts border. The property totals 39,825 net rentable square feet. Joseph Mendola of NAI Norwood represented the undisclosed seller and the institutional buyer in the transaction. The sales price was $4.8 million.

March 12, 2021

Acquisitions Hospitality Massachusetts Northeast

Hersha Hospitality Trust Sells 112-Room Holiday Inn Hotel in Cambridge

by Taylor Williams March 12, 2021

CAMBRIDGE, MASS. — Pennsylvania-based Hersha Hospitality Trust has sold the 112-room Holiday Inn Express & Suites Boston, located at 250 Monsignor O’Brien Highway in Cambridge. Cyrus Vazifdar, Jay Morrow, Michael Tormey and Alex Yiankes of Hodges Ward Elliott (HWE) represented Hersha Hospitality in the transaction. Additionally, HWE’s capital markets team sourced acquisition financing for the undisclosed buyer.

March 12, 2021

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