Property Type

Kidder Mathews Brokers $4.6M Sale of Tempe Office Center in Arizona

by Amy Works October 7, 2020

TEMPE, ARIZ. — Kidder Mathews has arranged the sale of Tempe Office Center, an office park located at 950 W. Southern Ave. and 3225 S. Hardy Drive in Tempe. Investors from Northern California and the State of Washington acquired the asset from a Southern California-based investment group for $4.6 million. At the time of sale, the 24,381-square-foot office park was 77 percent occupied. Concentra Urgent Care occupies 41 percent of the property and recently extended its lease for an additional 13 years. The urgent care provider has occupied the property since the mid-1990s. Erik Marsh of Kidder Mathews represented the seller in the deal.

October 7, 2020

Loans Multifamily Texas

Associated Bank Provides $34.3M Loan for Rehabilitation of Houston Apartments

by Taylor Williams October 7, 2020

HOUSTON — Associated Bank has provided a $34.3 million loan for the rehabilitation of Pinewood Apartments, a 240-unit affordable housing community in Houston that was built in 2001. The borrower, Minnesota-based Dominium Management Services LLC, acquired the property earlier this year. Renovations will preserve the affordability of all units for renters earning 60 percent or less of the area median income and will include new lighting, appliances and countertops, as well as the addition of in-unit washers and dryers. In addition, Dominium will upgrade amenity spaces, including the dog park, outdoor grilling area and pavilion. Renovations are expected to be complete in the second quarter of next year.

October 7, 2020

Leasing Activity Office Texas

Common Desk to Open 24,140 SF Coworking Space in Houston’s Westchase District

by Taylor Williams October 7, 2020

HOUSTON — Common Desk, a Texas-based provider of flexible office solutions, will open a 24,140-square-foot coworking space at 2500 CityWest, a 578,284-square-foot office building in Houston’s Westchase neighborhood. The space will be Common Desk’s third in the Houston area. Win Haggard Jr. and Vince Strake of Cushman & Wakefield, along with internal representative Dennis Tarro, represented the landlord, a partnership between Patrinely Group and USAA Real Estate, in the lease negotiations.

October 7, 2020

Acquisitions Hospitality Texas

Marcus & Millichap Brokers Sale of 65-Room Comfort Inn Hotel Near Fort Worth

by Taylor Williams October 7, 2020

WHITE SETTLEMENT, TEXAS — Marcus & Millichap has brokered the sale of the Comfort Inn & Suites Fort Worth West, a 65-room hotel located on the western outskirts of Fort Worth in White Settlement. The property was built in 2014. Chris Gomes, Joseph Jaques and Allan Miller of Marcus & Millichap represented the Dallas-based seller in the transaction. Gomes also procured the buyer. Both parties were limited liability companies that requested anonymity.

October 7, 2020

Leasing Activity NAI Office Texas

NAI Partners Negotiates 17,210 SF Office Lease for Aegis Chemical Solutions in North Houston

by Taylor Williams October 7, 2020

HOUSTON — NAI Partners has negotiated a 17,210-square-foot office lease for Aegis Chemical Solutions, a provider of water treatment solutions, at 4560 Kendrick Plaza Drive in North Houston. Jason Whittington of NAI Partners represented the tenant in the lease negotiations. Logan Greer of Insite Realty Partners represented the landlord, EastGroup Properties LP.

October 7, 2020

Healthcare Leasing Activity Texas

Cano Health Signs 14,938 SF Medical Office Lease in San Antonio

by Taylor Williams October 7, 2020

SAN ANTONIO — Cano Health, a provider of healthcare services for seniors that is owned by Humana, has signed a 14,938-square-foot medical office lease at Buena Vista Plaza in San Antonio. The property is located at 100 S. Zarzamora St., just west of downtown. Shawn Ackerman of Henry S. Miller Brokerage represented the landlord, Fallas Borrower IV LLC, in the lease negotiations. Aamil Safani of Cushman & Wakefield represented the tenant.

October 7, 2020

Development Mixed-Use New York Northeast

SL Green Tops Out 34-Story Mixed-Use Project at 185 Broadway in Lower Manhattan

by Taylor Williams October 7, 2020

NEW YORK CITY — SL Green Realty Corp. (NYSE: SLG) has topped out its 34-story mixed-use project at 185 Broadway in Lower Manhattan. Located across from Fulton Transit Center, the building will consist of 17,000 square feet of ground-floor retail space, 26,000 square feet of office space and 217,000 square feet of residential space across 209 units. FX Collaborative designed the residential component of the project, which will offer one, two- and three-bedroom floor plans and will include 63 units of affordable housing.

October 7, 2020

Development New York Northeast Retail

ShopRite Opens 70,000 SF Grocery Store at The Boulevard on Staten Island

by Taylor Williams October 7, 2020

NEW YORK CITY — ShopRite has opened a 70,000-square-foot grocery store at The Boulevard, a $200 million retail redevelopment project on Staten Island. Kimco Realty Corp. is leading the redevelopment of the 400,000-square-foot, open-air center, which will add retailers such as Marshalls, Ulta and PetSmart to its roster in 2021. The new ShopRite features specialty prepared foods from Valducci’s pizza, Loon Chuan Asian cuisine, Saladworks, Juice Press and Dunkin’ coffee, as well as onsite access to a registered dietitian and beauty consultant.

October 7, 2020

Acquisitions Industrial Northeast Pennsylvania

Binswanger Brokers Sale of Two Industrial Properties Near Philadelphia for $18M

by Taylor Williams October 7, 2020

PENNSAUKEN, N.J. — Binswanger Commercial Real Estate Services has brokered the sale of two industrial properties in the Philadelphia suburb of Pennsauken, New Jersey, for $18 million. The first property is a 189,498-square-foot facility located at 9130 Griffith Morgan Lane that includes 16,000 square feet of office space and sold for $7.4 million. The second property was built on 13.5 acres in 1997, totals 201,000 square feet and features 28- to 32-foot clear heights. That property sold for roughly $10.6 million. Simmons Pet Food formerly owned both assets. Kenover Marketing and KB Furniture respectively purchased the first and second properties. Chris Pennington of Binswanger brokered the deals.

October 7, 2020

Acquisitions Industrial New Jersey Northeast

Venture One, Kovitz Acquire 17,290 SF Industrial Building in Camden, New Jersey

by Taylor Williams October 7, 2020

CAMDEN, N.J. — A partnership between Chicago-based Venture One Real Estate and Kovitz Investment Group has acquired a 17,290-square-foot vacant industrial building in Camden, located outside of Philadelphia in New Jersey. The 9.4-acre property serves as a repair/maintenance facility, offers proximity to Interstate 295 and downtown Philadelphia and features 2,800 square feet of office space and parking for 236 trailers. Jim Scott of Colliers International represented the undisclosed seller in the transaction. Scott Mertz of NAI Mertz represented the buyer and will market the property for lease.

October 7, 2020

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