Property Type

Rodeo 39 Public Market in Southern California to Open in Mid-October

by Amy Works September 28, 2020

STANTON, CALIF. — Dan Almquist of Frontier Real Estate Investments plans to debut Rodeo 39 Public Market, a collection of eateries and retail spaces in Southern California, in mid-October. Located at 12885 Beach Blvd. in Stanton, Rodeo 39 will feature hangar doors that open up for an inside/outside setting, original artwork and murals from five different local artists and several first-to-market retail and restaurants concepts. The Rodeo 39 mix includes Banh Xeo Boys, Bearded Tang Brewery, Beleaf Burgers, Bestea, Dot & Dough, Fika Fika Creamery, Hook & Anchor, Joystix, Kra Z Kai’s BBQ, My First Kiss, Nandomo by HiroNori, Oi Asian Fusion, Phoholic, Primal Cuts, Pvsta Lab, Rodeo Bar, RTE, Shootz, Sizzle, Steel Pan Pizza, Skin Design Tattoos, Tenori, Orng Cnty, The Nail Boss, Utopia Studios, WNTD and ZeroUV. Additionally, Rodeo 39 will offer a seamless to-go ordering system called Rodeo39Go that allows for the choice of pick-up, curbside, delivery or contactless ordering via QR codes from tables within Rodeo 39 Public Market. Rodeo 39 is currently in the soft-open phase as tenants train their staff and team members. An official grand opening to the public is slated for Oct. 17 and 18.

September 28, 2020

Acquisitions Multifamily Texas

BSR REIT Acquires Aura Castle Hills Apartments in Metro Dallas for $51.8M

by Taylor Williams September 28, 2020

LEWISVILLE, TEXAS — Arkansas-based BSR REIT has acquired Aura Castle Hills, a 276-unit apartment community located in the northern Dallas suburb of Lewisville, for $51.8 million. Built in 2019, the property features one-, two- and three-bedroom units with stainless steel appliances, granite countertops and private patios and balconies. Amenities include a pool, fitness center, resident clubhouse with a coffee bar, courtyards with grilling areas, business center and a pet park. The seller was not disclosed.

September 28, 2020

Acquisitions Multifamily Texas

Greystone Arranges Sale of 361-Unit Fairmont on San Felipe Apartments in Houston

by Taylor Williams September 28, 2020

HOUSTON — Greystone National Apartment Advisors has arranged the sale of The Fairmont on San Felipe, a 361-unit apartment community located at 6363 San Felipe St. in Houston’s Galleria neighborhood. The property was built in 2009 and houses 41,402 square feet of retail space. Units feature one-, two- and three-bedroom formats. Amenities include two pools, a fitness center and outdoor courtyards with grilling areas. Jordon Emmott, Abraham Garza III and Shayan Hasnain of Greystone represented the seller, a partnership between Hunington Properties and Longreach Associates, in the transaction. Miami-based investment firm Galium Capital acquired the asset for an undisclosed price.

September 28, 2020

Leasing Activity Office Texas

Fuse Workspace Opens 30,000 SF Coworking Space in Bee Cave, Texas

by Taylor Williams September 28, 2020

BEE CAVE, TEXAS — Fuse Workspace, a Texas-based provider of flexible office solutions, has opened a 30,000-square-foot coworking space at 14425 Falcon Head Blvd. in the western Austin suburb of Bee Cave. The space features 116 private offices, seven conference rooms, a podcast studio, two outdoor patios and a full-time concierge staff. With this opening, Fuse now operates three flexible workspaces in Texas totaling 92,000 square feet.

September 28, 2020

Acquisitions Industrial Texas

Marcus & Millichap Brokers Sale of 6,800 SF Industrial Building in West Texas

by Taylor Williams September 28, 2020

GARDENDALE, TEXAS — Marcus & Millichap has brokered the sale of a 6,800-square-foot industrial building located at 12030 E. Highway 158 in Gardendale, located outside Midland in West Texas. The property was built on 2.2 acres in 2013. Adam Abushagur and Davis Cagle of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were private investors that requested anonymity.

September 28, 2020

Leasing Activity Restaurant Retail Texas

Benders Sports & Spirits to Open 4,086 SF Restaurant in Metro Dallas

by Taylor Williams September 28, 2020

RICHARDSON, TEXAS — Benders Sports & Spirits will open a 4,086-square-foot restaurant at 300 N. Coit Road in the northeastern Dallas suburb of Richardson, its second in the metroplex. Andy Anderson of Restaurant Properties Group represented the tenant in the negotiations for the seven-year lease. Andrew Shaw of NAI Robert Lynn represented the landlord, Pipit Partners LP.

September 28, 2020

Industrial Loans New Jersey Northeast

Hartford Investment Provides $25M Loan for Refinancing of 706,487 SF Distribution Center in Secaucus

by Taylor Williams September 28, 2020

SECAUCUS, N.J. — Hartford Investment Management Co. has provided a $25 million loan for the refinancing of a 706,487-square-foot distribution center located at 500 Meadowland Parkway in the New York City metro of Secaucus. Built in 1977 and renovated multiple times over the years, the property is situated within the 750-acre Harmon Cove development, about three miles from Manhattan and proximate to Newark Liberty International Airport. Building features include 24- to 26-foot clear heights, 200 loading docks and ample car and trucking parking spaces. Thomas Didio led a JLL team that placed the fixed-rated debt with Hartford on behalf of the borrower, 500 Meadowland Parkway LLC.

September 28, 2020

Acquisitions Healthcare Life Sciences Massachusetts Northeast Office

McCord Development Opens Boston Office, Acquires 64,736 SF Life Sciences Building

by Taylor Williams September 28, 2020

BOSTON — McCord Development, the firm behind the 4,200-acre Generation Park master-planned community in Houston, has opened a Boston office and acquired a 64,736-square-foot life sciences building. The property is located west of the city at 30 Bearfoot Road in Northborough and was formerly occupied by British pharmaceutical giant GlaxoSmithKline. The seller was Alexandria Real Estate Equities.

September 28, 2020

Michigan Midwest Multifamily

City Club Apartments Forms Strategic Partnership with Berkeley Capital

by Kristin Harlow September 28, 2020

FARMINGTON HILLS, MICH. — City Club Apartments (CCA) has formed a new partnership with Berkeley Capital, a boutique private equity firm based in Cleveland, to enhance its development of multifamily communities. CCA cites Berkeley’s access to niche sources of international capital and says the partnership creates “great efficiency” in real estate investment, development and acquisition, according to a news release. Farmington Hills-based CCA is an owner, developer and manager with a portfolio of approximately 10,000 apartment units, $2 billion in real estate assets and $750 million under development. Jonathan Holtzman, formerly of Village Green, leads the company. Berkeley is dedicated to creating new investment opportunities for international sources of capital.

September 28, 2020

Hospitality Illinois Midwest

Reports: Chicago’s Historic Palmer House Hilton Hotel in Foreclosure

by Kristin Harlow September 28, 2020

CHICAGO — The historic Palmer House Hilton hotel in Chicago faces a bank foreclosure, according to several media reports including The Wall Street Journal. Wells Fargo Bank filed a lawsuit against Thor Equities because the owner was in default on its $333.2 million first mortgage. Located at 17 E. Monroe St., the hotel was originally constructed in 1871. Conrad Hilton later purchased it in 1945. Palmer House features 1,639 guest rooms and suites. Famous guests throughout the decades have included Oscar Wilde, Frank Sinatra, Louis Armstrong and Bill Clinton.

September 28, 2020

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