SAN ANTONIO — Rainier Cos., a Dallas-based investment firm, has sold San Antonio Crossing, a 145,819-square-foot shopping center located on the city’s northwest side. Rainier Cos. purchased the center, which is located at the corner of Bandero Road and Loop 1604, in 2019. Texas-based grocer H-E-B anchors the center, and other tenants include Academy Sports + Outdoors, Burlington, Half Price Books, Starbucks Coffee and ModPizza. Philip Levy and Chris Gainey of Marcus & Millichap brokered the deal. The buyer and sales price were not disclosed.
AUSTIN, TEXAS — Equitable Commercial Realty (ECR) has negotiated a 20,122-square-foot office lease in southeast Austin. The tenant, locally based technology infrastructure provider Fathom5, will occupy space at Bergstrom Tech Center, a 208,374-square-foot facility that was originally constructed in 1986 for defense contractor Lockheed Martin. ECR represented the landlord, Boyd Watterson Asset Management, in the lease negotiations. Colliers represented the tenant.
CARY, N.C. — JLL Capital Markets has facilitated a $191 million loan for Fenton, a mixed-use development located in Cary, roughly 12 miles west of downtown Raleigh. The property includes 246,000 square feet of retail space, 183,000 square feet of office space and an apartment community — The Allison at Fenton — comprising 367 multifamily units. Chip Sykes and Kelsey Bawcombe of JLL secured the loan on behalf of the borrower, a partnership between Hines, Affinius Capital and Columbia Development. New York Life Real Estate Investors provided the mortgage financing.
CAMBRIDGE, MASS. — Newmark has negotiated the sale of three life sciences facilities totaling 552,543 square feet in Cambridge, located across the Charles River from Boston. The facilities are located at 215 First St., 150 Second St. and 11 Hurley St. in the Kendall Square submarket. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell and William Sleeper of Newmark represented the seller and procured the buyer, both of which requested anonymity, in the transaction. Newmark’s Grady Zink provided financial analysis support for the transaction.
PLANT CITY, FLA. — Cushman & Wakefield has brokered the sale of Peak Logistics Center, a two-building industrial park located at 3501 Fancy Farms Road in Plant City, a city in west-central Florida. EQT Exeter purchased the property for an undisclosed price from TA Realty LLC. Rick Brugge, Mike Davis, Rick Colon and Ryan Jenkins of Cushman & Wakefield represented the seller in the transaction with assistance from Clay Witherspoon of Avison Young, who oversees leasing for the property. Peak Logistics Center I & II span 400,833 square feet and were completed in 2022 and 2023. The development was fully leased to four tenants at the time of sale.
ROLESVILLE, N.C. — Crosland Southeast and Core Sound Development has signed 11 new tenants to Wallbrook, an 80-acre mixed-use development located in Rolesville, roughly 17 miles northwest of Raleigh. Publix will anchor the property, which is scheduled to open its initial phase in mid-2025. The developers have preleased 21,000 square feet to tenants including restaurants, a dental practice, hair salon, massage parlor and Pilates gym. Additionally, Fifth Third Bank has signed a ground lease at an outparcel. Approximately 9,000 square feet of space is still available for lease at the property. Crosland is planning for a second phase with preleasing beginning this spring. Charlie Coyne and Matt Larson of CBRE are leading leasing efforts at Wallbrook, which will have 265,000 square feet of commercial space when fully built-out.
SHELBYVILLE, KY. — Northmarq has arranged a $45 million loan for The Blending House, a bourbon storage, bottling and blending facility located on a 108-acre site at 1917 Vigo Road in Shelbyville, about 39 miles east of Louisville. Randall Waddell of Northmarq’s Louisville office arranged the five-year loan through a regional bank on behalf of the borrowers, a partnership between Floyds Knobs, Ind.-based The Koetter Group and Louisville-based The Spirits Group. The borrowers will use the loan proceeds to pay off existing debt from the Phase I of development and to fund the second and final phase of construction. The loan features two years of interest-only payments and a 25-year amortization schedule. Upon completion, The Blending House will feature seven rickhouses and a 30,000-square-foot blending and bottling facility that will serve as a home base for clients of The Spirit Group. The development is the first speculative whiskey barrel storage facility in Kentucky, according to the borrowers.
OVIEDO, FLA. — A partnership between LeCesse Development and Broad Oak Development plans to soon break ground on Broad Oak Oviedo, a 252-unit apartment development in the Central Florida city of Oviedo. The property will feature a mix of four-story, elevator-serviced buildings and carriage house buildings that also feature garages. Amenities will include a fitness center, game room, valet trash service, coworking space, golf simulator, infinity edge pool, dog park, recreational trail and an outdoor summer kitchen. The development will be situated near Oviedo Mall, Oviedo on the Park, the Cross Seminole Trail and FBC Mortgage Stadium, among other attractions. LeCesse and Broad Oak plan to deliver the community in summer 2026. The project team includes Slocum Platts Architects, Kimley-Horn, Dix.Hite+Partners, Beasley & Henley and Walker & Co. Synovus Bank is providing debt construction financing, and Marble Capital is investing preferred equity into the development.
Northmarq Arranges Four Loans Totaling $68.5M for Refinancing of Two Jersey City Apartment Complexes
JERSEY CITY, N.J. — Northmarq has arranged four loans totaling $68.5 million for the refinancing of CityLine East and West, two apartment complexes totaling 342 units in Jersey City. For CityLine East, which was built in 2021 and totals 198 units, Northmarq arranged a $34 million senior loan and an $8 million mezzanine loan. For CityLine West, which was completed in 2019 and totals 144 units, Northmarq placed a $21.5 million senior loan and a $5 million mezzanine loan. Both properties offer studio, one- and two-bedroom units. All loans carried fixed interest rates. John Banas and Kris Wood of Northmarq arranged the debt on behalf of the borrower, The PRC Group. The direct lenders were not disclosed.
NEW YORK CITY — Terreno Realty Corp., an investment firm with offices in metro Seattle, San Francisco and New York City, has purchased a 33,000-square-foot industrial building in Queens for $50.1 million. The building sits on a 2.6-acre site at 49-15 Maspeth Ave. and features 40 dock-high and four grade-level loading positions, as well as parking for 31 cars and 50 trailers. The property was 100 percent leased at the time of sale to an HVAC and industrial products distributor. The seller was not disclosed. The sales price translates to a cap rate of 4.5 percent.