Property Type

Beyond Meat to Open 300,000 SF Headquarters Near Los Angeles

by Katie Sloan January 15, 2021

EL SEGUNDO, CALIF. — Beyond Meat Inc. (NASDAQ: BYND), a producer of plant-based meat replacement products, has signed a 12-year lease for a 300,000-square-foot corporate headquarters less than one mile south of Los Angeles International Airport at 888. N. Douglas St. in El Segundo. The headquarters will be located within a four-building, 550,000-square-foot creative office and industrial campus currently under development by Hackman Capital Partners, which is scheduled for completion this spring. Beyond Meat’s offices are set to open in fall of this year and will include advanced research labs and incubator spaces for the development of new technologies and more innovative products. The company’s headquarters is designed for LEED and Fitwel certification in alignment with Beyond Meat’s mission and commitment to sustainability and workplace wellbeing. “Our new campus and state-of-the-art research facilities will house cutting-edge fundamental and applied research alongside globalized product development teams, all in service to a single goal — creating meat from plants that is indistinguishable from its animal protein equivalent,” says Ethan Brown, founder and CEO of Beyond Meat. The JLL team of Gary Horwitz, Blake Searles, Connor Hall and Kamil Agha represented Beyond Meat in the leasing transaction. The company also tapped DPPM Project Management …

January 15, 2021

Development Massachusetts Multifamily Northeast

Trammell Crow Residential to Develop 282-Unit Multifamily Project in Kingston, Massachusetts

by Taylor Williams January 15, 2021

KINGSTON, MASS. — Trammell Crow Residential, the multifamily development arm of Crow Holdings, has closed on land and construction financing for the development of Alexan Kingston, a 282-unit multifamily project that will be located about 35 miles south of Boston. The property will offer studio, one-, two- and three-bedroom floor plans ranging in size from 620 to 1,500 square feet. Units will feature granite countertops and individual washers and dryers, while select units will have private balconies or porches. Communal amenities will include a pool, fitness center, private workspaces, conference rooms, an event room, outdoor grilling areas and Amazon package lockers. Completion is slated for summer 2023. Pyramid Management Group will manage the property.

January 15, 2021

Acquisitions New Jersey Northeast Retail

Marcus & Millichap Arranges Sale of 138,445 SF Retail Property in Vineland, New Jersey

by Taylor Williams January 15, 2021

VINELAND, N.J. — Marcus & Millichap has arranged the sale of Maintree Shopping Center, a 138,445-square-foot retail property located in the Southern New Jersey city of Vineland. The asset sold for $13.1 million. A 60,000-square-foot Acme grocery store anchors the property along with a Dollar Tree store. Kodi Traver, Joseph French Jr., Thomas Dalzell and Mark Taylor of Marcus & Millichap represented the seller, a private investor, in the transaction. Additional terms of sale were not disclosed.

January 15, 2021

Leasing Activity New Jersey Northeast Retail

R.J. Brunelli Negotiates 11,878 SF Retail Lease for Family Dollar in Hawthorne, New Jersey

by Taylor Williams January 15, 2021

HAWTHORNE, N.J. — R.J. Brunelli & Co. has negotiated an 11,878-square-foot retail lease at Hawthorne Center, a 107,700-square-foot shopping center located about 25 miles northwest of New York City in Northern New Jersey. The discount retailer will occupy an endcap space now home to by sister chain Dollar Tree, which will relocate to a 12,394-square-foot endcap space on the opposite end of the center. That space previously housed Flaming Grill Buffet. The Family Dollar store is expected to open in the third quarter, and the relocated Dollar Tree store is scheduled to open in the second quarter. R.J. Brunelli also recently negotiated leases for European Wax Center and Liberty Discount Furniture & Mattress at other centers in Northern New Jersey. Danielle Brunelli represented the tenants on the Family Dollar and European Wax Center leases, while Peter Miller of R.J. Brunelli represented both the landlord and tenant on the Liberty transaction.

January 15, 2021

Acquisitions Industrial South Carolina Southeast

Keith Corp., Singerman Real Estate Sell Industrial Facility in Metro Charleston for $55M

by Alex Tostado January 14, 2021

SUMMERVILLE, S.C. — The Keith Corp. and Singerman Real Estate have sold a 448,765-square-foot industrial facility in Summerville for $55 million. The manufacturing and distribution facility is located at 479 Trade Center Parkway within Charleston Trade Center, an industrial park situated along Interstate 26 about 27 miles northwest of the Port of Charleston. The rear-load building features 32-foot clear heights, ESFR sprinklers, LED lighting with motion sensors, surface parking and office space. The Keith Corp. is a Charlotte-based real estate developer, and Singerman is a privately based real estate investment firm based in Chicago. Automotive parts supplier IFA Rotorion — North America, a subsidiary of Germany-based IFA Group, fully leases the facility. The asset was originally delivered in 2018 and in July 2020, The Keith Corp. and Singerman Real Estate expanded the facility by 211,000 square feet. Pete Pittroff and Patrick Nally of JLL represented the sellers in the transaction. Solid Rock Group represented the buyer, an undisclosed family office.

January 14, 2021

Development Office South Carolina Southeast

Balfour Beatty Breaks Ground on $42M Office Building in Downtown Charleston

by Alex Tostado January 14, 2021

CHARLESTON, S.C. — Balfour Beatty US has broken ground on Morrison Yard, a $42 million office building in downtown Charleston. The Keith Corp. and Origin Development Partners are the co-developers of Morrison Yard. The companies are located in Charlotte and Charleston, respectively. Morrison Yard will stand 12 stories high and will offer 140,000 square feet of office space, 8,000 square feet of ground-floor retail space and a four-story parking deck with approximately 377 parking spaces. The general contractor expects to deliver the asset in summer 2022.

January 14, 2021

Development Hospitality Louisiana Southeast

Holiday Inn Club Vacations Opens New Orleans Resort at Historic Skyscraper in French Quarter

by Alex Tostado January 14, 2021

NEW ORLEANS — Holiday Inn Club Vacations Inc. has opened its New Orleans resort, which marks the first urban property for the company. The hotel is housed in what was the city’s first skyscraper, built in 1893. Holiday Inn Club Vacations acquired the property in 2019 and converted the apartment building into a 105-villa resort. The property offers one- and two-bedroom suites with kitchens and living rooms. The first floor of the 11-story building offers a marketplace and the Maritime Bar & Lounge. The top floor features a fitness center, rooftop deck and a pool. The asset is situated at 203 Carondelet St. in New Orleans’ French Quarter district. The resort houses 45 employees.

January 14, 2021

Acquisitions Florida Healthcare Office Southeast

Mohr Capital Acquires 78,449 SF Medical Office Building in Orlando

by Alex Tostado January 14, 2021

ORLANDO, FLA. — Mohr Capital has acquired a two-story, 78,449-square-foot medical office building in Orlando. The property is situated within Lee Vista Business Park at 6272 Lee Vista Blvd., nine miles southeast of downtown Orlando. The facility houses a distribution warehouse, office space for executives, specialty pharmacy and a team of specialty-trained pharmacists and nurses. Accredo Health Group Inc., a specialty pharmacy operator and subsidiary of global healthcare insurance firm Cigna Corp., fully occupies the asset with more than six years remaining on its lease. The facility was first developed in 2006 for CuraScript Inc., which merged with Accredo in 2012. Rodrigo Godoi internally represented the Dallas-based buyer in the transaction. Ron Rogg of CBRE represented the seller, a tenant in common (TIC) entity, in the transaction. The sales price was not disclosed.

January 14, 2021

Arizona Development Multifamily Student Housing Western

Toll Brothers, Harrison Street to Develop 826-Bed Student Housing Community in Tempe

by Amy Works January 14, 2021

TEMPE, ARIZ. — Toll Brothers Campus Living and Harrison Street have formed a joint venture to develop Canvas, a student housing community adjacent to Arizona State University (ASU) in Tempe. The joint venture has secured a construction loan facility from MidFirst Bank, Fifth Third Bank N.A. and Trustmark Bank. Toll Brothers’ in-house finance department arranged the debt and equity financing. TSB Capital Advisors served as advisor to Toll Brothers. Situated on 3.4-acres, Canvas will feature 263 units totaling 826 beds with a modern furniture package, quartz countertops, private bedroom door locks, walk-in closets, computer-controlled access, smart television, central air conditioning, private bedrooms and bathrooms, in-unit washer/dryer, hardwood-style floors, high-speed internet and stainless steel appliances. The community will feature a six-level, 469-stall parking garage; fitness center; clubroom with an e-sports lounge; rooftop pool and amenity deck; business center; café/lounge; ground-floor retail space; courtyard and fire pit; grilling stations; electronic parcel lockers; private study rooms; and bike storage. The joint venture has partnered with Subtext, a real estate development company focused on living spaces for students and young professionals. Toll Brothers Campus Living will manage the development, construction and marketing, as well as asset management. Cardinal Group Management will act as the …

January 14, 2021

Acquisitions Office Washington Western

CBRE Negotiates $52.2M Sale of Terry Thomas Office Property in Seattle’s South Lake Union

by Amy Works January 14, 2021

SEATTLE — CBRE has arranged the sale of Terry Thomas, a single-tenant office property located in Seattle’s South Lake Union neighborhood. A group of private local investors, including Mike Hess of Hess Callahan Partners and Mark Grey of Stephen Grey & Associates, sold the asset to a newly raised core fund advised by Zurich Alternative Asset Management for $52.2 million. CBRE’s Tom Pehl, Lou Senini, Chais Lowell, Paige Morgan, Charles Safley, Thuy Tran, Brandon McMenomy, Brad Zumpa and Mike Walker represented the seller. Thomas Buffa and Sean Bannon of US Real Estate represented the buyer in the deal. Located at 225 Terry Ave. North, the four-story, 44,445-square-foot building was constructed in 2008. Northeastern University occupies the property, which is LEED Gold certified. The building includes 67 underground parking stalls.

January 14, 2021

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