Property Type

NorthMarq Arranges $166M in Capital for The Launch Apartment Development in Alameda, California

by Julia Sanders April 9, 2021

ALAMEDA, CALIF. — NorthMarq has arranged $166 million in joint venture equity and construction financing for The Launch, a 368-unit waterfront apartment community in Alameda. The Launch will be located at 1777 Clement Ave. at the northern edge of Alameda Island along the Oakland Estuary. The property is located 16 miles from San Francisco and 39 miles from San Jose. The project will feature a mix of market-rate, below-market-rate and work-live units along with an onsite leasing office. Amenities will include four interior courtyards with a pool, spa, dog runs, barbecue area, fire pits, lounge seating, rooftop decks, a fitness room and a club room. The Launch will have 416 off-street parking spots provided for residents, along with bike parking. The building offers a street-level connection from Clement to the Bay Trail and other marina amenities through a double-height, 20-foot-wide pedestrian corridor. John Kerslake, Briana Harney and Griff Whitlock of NorthMarq secured the debt and joint venture equity for the development of The Launch. The financing package totaled $166 million, of which $62 million is joint venture equity and $104 million is construction financing. Bay West Group/Pacific Development and the investor, an institutional real estate manager, formed a joint venture …

April 9, 2021

Build-to-Rent Midwest Multifamily Northeast Single-Family Rental Southeast Texas Video Walker & Dunlop Webinar Western

Webinar: Everything You Need to Know About the Single-Family Rental & Build-For-Rent Market

by Sarah Daniels April 9, 2021

On Apr. 7, France Media hosted the “Everything You Need to Know About the Single-Family Rental & Build-For-Rent Market” webinar, sponsored by Walker & Dunlop. The single-family rental (SFR) and build-for-rent (BFR) space has generated excitement throughout the commercial real estate world. This webinar brings together five expert panelists to answer the most pressing questions for this asset class: what to know about SFR and BFR verticals, issues and trends within the space, the sudden influx of institutional capital and where things might go from here. Click to hear more. See a list of some topics covered below: SFR and BFR markets definitions/size Factors driving growth (including changing demographic trends, COVID-19), occupancy levels and the most active markets SFR/BFR rental rates and the pipeline of new supply in the asset class Institutional capital/availability of financing/investment market layout for the SFR/BFR space Overview on managing and maintaining SFR/BFR products and portfolios Panelists: David Howard, National Rental Home Council (moderator) Keaton Merrell, Walker & Dunlop Mark Peterson, SVN | SFRhub Advisors Don Walker, John Burns Consulting Jon Ellenzweig, Tricon Residential Webinar sponsor: Walker & Dunlop strives to be the premier commercial real estate finance company in the country by providing financing solutions and investment sales to owners of …

April 9, 2021

Development Healthcare Texas

Signorelli Reveals Updated Site Plans for 200-Acre Medical District in Metro Houston

by Taylor Williams April 9, 2021

NEW CANEY, TEXAS — Locally based developer Signorelli Co. has revealed updated site plans for the Valley Ranch Medical District, a 200-acre campus within the firm’s Valley Ranch master-planned community located northeast of Houston in New Caney. Valley Ranch Medical District will consist of a 25-acre regional hospital with over 250 beds, a 13.7-acre medical school campus and a 21-acre medical research facility. A day surgery, pediatric clinic and approximately 28 acres devoted to medical offices will be included as well. The development will also include retail, restaurants and academic buildings. The detention and drainage for the entire development is scheduled to be complete in the next 120 days with site work for streets and utilities to follow immediately.

April 9, 2021

Development Multifamily Texas

Pearlstone, ATCO Properties to Develop 284-Unit Multifamily Project in Austin

by Taylor Williams April 9, 2021

AUSTIN, TEXAS — A partnership between Austin-based Pearlstone Properties and New York-based ATCO Properties & Management will develop Vesper, a 284-unit multifamily project that will be located in Austin’s historic Rainey Street District. The 41-story building will offer an average unit size of 975 square feet, with 10 units being reserved for households earning up to 80 percent of the area median income. Amenities will include a rooftop clubhouse, pool, outdoor kitchen, fitness center, dog park and coworking space. STG Design is the project architect, and McCray & Co. is the interior designer. Wuest Group is the civil engineer, and AECOM Hunt is the general contractor. Construction is expected to begin over the summer and to be complete in the first quarter of 2024.

April 9, 2021

Development Industrial Texas

CA Industrial to Build 200,000 SF Logistics Facility in Dallas

by Taylor Williams April 9, 2021

DALLAS — CA Industrial, a subsidiary of Chicago-based development and investment firm CA Ventures, will build a 200,000-square-foot logistics and last-mile delivery facility in the Great Southwest submarket of Dallas. The project, which will be branded 2700 Avenue K, will feature 36-foot clear heights, 33 dock doors, 190-foot truck court depths and abundant trailer parking. Construction is expected to begin this summer and to be complete in the second half of 2022. Stream Realty Partners represented CA Industrial in its acquisition of the land and will also handle leasing of the facility upon completion.

April 9, 2021

Industrial Leasing Activity Texas

Gulf Relay Signs 350,150 SF Industrial Lease in South Dallas

by Taylor Williams April 9, 2021

DALLAS — Gulf Relay, a third-party logistics company based in Mississippi, has signed a 350,150-square-foot industrial lease at Crossroads Trade Center 1 in South Dallas. The company currently operates out of Coppell, and the new lease raises its total footprint in the metroplex to roughly 460,000 square feet. Ward Richmond and James Ewing of Colliers International represented Gulf Relay in the lease negotiations. Kurt Griffin and Nathan Orbin of Cushman & Wakefield, along with internal agents Jack Stamets and Andy Lowe, represented the landlord, New York-based Clarion Partners.

April 9, 2021

Acquisitions Healthcare Texas

BGL Brokers Sale of 39,814 SF Healthcare Portfolio in Tyler, Texarkana

by Taylor Williams April 9, 2021

TYLER AND TEXARKANA, TEXAS — Brown Gibbons Lang & Co. (BGL), a global investment banking and financial advisory firm, has negotiated the sale of the 39,814-square-foot Precision Spine Care portfolio in Tyler and Texarkana. The portfolio consists of one clinical office and imaging center and one clinical office and ambulatory surgical center. BGL represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.

April 9, 2021

Development Illinois Midwest Multifamily

McShane to Build 285-Unit Apartment Project at Naperville’s CityGate Centre

by Kristin Harlow April 9, 2021

NAPERVILLE, ILL. — Lincoln Property Co. and Calamos Real Estate have selected McShane Construction Co. to build a 285-unit luxury apartment project at CityGate Centre in Naperville, a western suburb of Chicago. Known as Lincoln at CityGate, the four-story project will include a 430-space parking garage and a shell for a 37,893-square-foot rooftop event center. Residents will have access to amenities such as a lounge, library, fitness and yoga rooms, bike lounge, storage, dog spa and pool area. Completion is slated for February 2023. CallisonRTKL is the architect. CityGate Centre is home to a hotel, office space and bars and restaurants.

April 9, 2021

Acquisitions Illinois Industrial Midwest

Colliers Brokers Sale of 503,244 SF Distribution Center in Aurora, Illinois

by Kristin Harlow April 9, 2021

AURORA, ILL. — Colliers International has brokered the sale of Butterfield VI Distribution Center, a 503,244-square-foot facility in Aurora, located about 40 miles west of Chicago. Situated on 34.5 acres at 2350 Frieder Lane, the warehouse features a clear height of 36 feet and parking for 125 trailers and 286 cars. Built in 2020, the property is 66 percent leased to LGSTX Distribution Services. It is located within the larger Butterfield Center for Business and Industry. Jeff Devine and Steve Disse of Colliers represented the seller, a partnership between Sterling Bay Industrial, Development Resources Inc. and Levy Family Partners. An institutional investment advisor purchased the asset for an undisclosed price.

April 9, 2021

Acquisitions Industrial Michigan Midwest

MAG Capital Partners Buys Industrial Facility in Michigan’s Thumb Region in Sale-Leaseback Transaction

by Kristin Harlow April 9, 2021

LEXINGTON, MICH. — In a sale-leaseback transaction, MAG Capital Partners LLC has purchased a 196,000-square-foot industrial manufacturing facility in Lexington, part of Michigan’s Thumb region. The purchase price was undisclosed. Situated on 27.5 acres along Lake Huron and located approximately 80 miles northeast of Detroit, the facility provides direct access to Route 25. Built in 1960 and fully renovated in 2017, the property features nine dock doors, 10 drive-in doors and ceiling heights ranging from 18 to 26 feet. Mary Garnett and Jim Tuesley of Barnes & Thornburg LLP represented MAG Capital Partners in the transaction. Newmark’s JC Ascensio, Tyrell McGee, Andrew Sandquist and Briggs Goldberg represented the seller, an undisclosed manufacturing company. Based in Fort Worth, Texas, MAG Capital Partners is led by Dax Mitchell and Andrew Gi.

April 9, 2021

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