Property Type

1700-Suckle-Highway-Pennsauken-New-Jersey

NAI Mertz Negotiates Sale of 116,284 SF Industrial Building in Pennsauken, New Jersey

by Taylor Williams March 17, 2021

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.

March 17, 2021

Acquisitions Healthcare Southeast Virginia

Cushman & Wakefield | Thalhimer Facilitates $1.9M Land Sale in Chester, Virginia for New Emergency Clinic

by Julia Sanders March 17, 2021

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.

March 17, 2021

Development Multifamily New Jersey Northeast Seniors Housing

Thrive to Open 203-Unit Seniors Housing Community in Montvale, New Jersey

by Taylor Williams March 17, 2021

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.

March 17, 2021

Development Illinois Industrial Midwest

Duke Realty Underway on Two Industrial Build-to-Suit Projects Totaling 1.8 MSF in Metro Chicago

by Kristin Harlow March 17, 2021

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.

March 17, 2021

Acquisitions Indiana Industrial Midwest

Mohr Capital Sells 200,000 SF Warehouse in Michigan City, Indiana

by Kristin Harlow March 17, 2021

MICHIGAN CITY, IND. — Dallas-based privately held investment firm Mohr Capital has sold a 200,000-square-foot warehouse and outdoor storage facility in Michigan City for an undisclosed price. GAF Materials Corp. fully occupies the property, which is located at 130 Tri Quad Drive. Michigan City is situated on the south shore of Lake Michigan in Northwest Indiana. New Jersey-based Four Springs Capital Trust was the buyer. Mohr completed development of the facility in November for GAF, which is a roofing and waterproofing manufacturer.

March 17, 2021

Acquisitions Illinois Midwest Multifamily

Kiser Group Brokers $7.1M Sale of Apartment Asset in Suburban Chicago

by Kristin Harlow March 17, 2021

DOWNERS GROVE, ILL. — Kiser Group has brokered the sale of East Village Apartments in Downers Grove for $7.1 million. Floor plans include 18 two-bedroom units and two one-bedroom units. Built in 2018, the three-story property includes 20 units. Ron Plonis of Kiser represented both the seller, Forth Group Real Estate, and the buyer, HP Ventures Group-Development Services LLC.

March 17, 2021

Development Healthcare Midwest Missouri

Ryan Cos. Breaks Ground on 46,000 SF Medical Office Building Near St. Louis

by Kristin Harlow March 17, 2021

ST. PETERS, MO. — Ryan Cos. US Inc. has broken ground on a 46,000-square-foot medical office building in St. Peters, about 30 miles northwest of St. Louis. The project is fully pre-leased to St. Peters Ambulatory Surgery Center, Advanced Bone & Joint, St. Luke’s Hospital Center for Diagnostic Imaging and Axes Physical Therapy. The development is situated at 5200 Executive Centre Parkway, about a half-mile from Barnes-Jewish St. Peters Hospital. Ryan Architecture + Engineering designed the building, and Ryan Cos. is serving as developer and builder. This is Ryan’s second project in St. Peters and sixth project in partnership with Surgery Partners. Completion is slated for March 2022.

March 17, 2021

Industrial Leasing Activity Midwest Ohio

Gullco International Signs 12,000 SF Industrial Lease in Macedonia, Ohio

by Kristin Harlow March 17, 2021

MACEDONIA, OHIO — Gullco International Inc. has signed a 12,000-square-foot industrial lease at 8157 Bavaria Road in Macedonia, about 23 miles southeast of Cleveland. David Hexter and Jeffrey Calig of NAI Pleasant Valley represented the undisclosed landlord in the lease transaction. Gullco manufactures and distributes welding and cutting automation tools to assist industries involved in ship building, power generation and infrastructure.

March 17, 2021

Loans Multifamily New York Northeast

Ariel Property Advisors Arranges $4.7M Loan for Refinancing of Manhattan Multifamily Building

by Taylor Williams March 17, 2021

NEW YORK CITY — Ariel Property Advisors has arranged a $4.7 million loan for the refinancing of a 42-unit multifamily building located at 500 W. 111th St. in Manhattan’s Morningside Heights neighborhood. Matt Swerdlow and Matt Dzbanek of Ariel Property Advisors placed the debt, which was structured with a fixed interest rate of 10 percent for three years and a 40-year amortization schedule, through an undisclosed New Jersey bank. The undisclosed borrower will use a portion of the proceeds to fund capital improvements.

March 17, 2021

Leasing Activity New Jersey Northeast Retail

R.J. Brunelli Negotiates Two Retail Leases Totaling 20,082 SF for Family Dollar in Northern New Jersey

by Taylor Williams March 17, 2021

PATERSON AND WEST ORANGE, N.J. — R.J. Brunelli & Co. Inc. has negotiated two retail leases for Family Dollar totaling 20,082 square feet in Northern New Jersey. In the first deal, the discount retailer leased a 10,382-square-foot space formerly occupied by Rite Aid in Paterson for a store that is expected to open in the third quarter. In the second transaction, Family Dollar signed a lease for 9,700 square feet at an inline space in West Orange. That store is scheduled to open in October. Danielle Brunelli and Pete Nicholson of R.J. Brunelli represented Family Dollar in both sets of lease negotiations. Patrick Varelas of Remax represented the landlord in the Paterson deal.

March 17, 2021

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