Property Type

Dogwood Industrial Properties Inks Two Leases Totaling 90,180 SF in Charlotte

by Alex Tostado May 15, 2020

CHARLOTTE, N.C. — Dogwood Industrial Properties has signed two industrial leases totaling 90,180 square feet at 5130 Hovis Road in Charlotte. An undisclosed Fortune 500 company signed a 66,430-square-foot lease and Plazit Polygal signed a 23,750-square-foot lease. Dogwood Industrial Properties acquired the 166,980-square-foot property in November when it was 34 percent leased. With the recent signings, the building is now fully occupied. The asset sits on seven acres two miles from Interstate 85 and four miles from I-77. The property features a fenced truck court, 20-foot clear ceiling height, new ESFR sprinklers and an existing CSX rail spur with rail doors. Plazit Polygal North America specializes in manufacturing thermoplastic sheets. Matt Treble, Eric Ridlehoover and Patrick McGrath of Cushman & Wakefield represented the landlord in the transaction.

May 15, 2020

Development Multifamily Texas

Sabot Development to Build 325-Unit Multifamily Project in San Antonio

by Taylor Williams May 15, 2020

SAN ANTONIO — Austin-based Sabot Development will build Elmira at Myrtle, a 325-unit multifamily project in San Antonio that will also contain 14,000 square feet of ground-floor retail and restaurant space. Plans currently call for an elevated pool in addition to other unspecified amenities. Gensler is the project architect, and Cadence McShane is the general contractor. Construction is expected to begin in the first quarter of 2021.

May 15, 2020

Acquisitions Multifamily Texas

Berkadia Arranges Sale of 240-Unit Regency Square Apartments in Corpus Christi

by Taylor Williams May 15, 2020

CORPUS CHRISTI, TEXAS — Berkadia has arranged the sale of Regency Square, a 240-unit apartment community in Corpus Christi. The property features one-, two- and three-bedroom units and amenities such as a pool, playground and onsite laundry facilities. Kelly Witherspoon and Justin Cole of Berkadia represented the seller, Minnesota-based S&H Realty Management, in the transaction. The buyer was Texas-based 3CM Multifamily.

May 15, 2020

Loans Multifamily Texas

Arbor Provides $4M Fannie Mae Loan for Refinancing of Multifamily Property in Laredo, Texas

by Taylor Williams May 15, 2020

LAREDO, TEXAS — New York-based Arbor Realty Trust Inc. has provided a $4 million Fannie Mae loan for the refinancing of Monaco Boulevard Apartments, a multifamily property in the Rio Grande Valley city of Laredo. The community was built in 2013 and totals 44 units. Jared Stein of Arbor provided the loan, which carries a 10-year term, fixed interest rate and a 30-year amortization schedule. The borrower was not disclosed.

May 15, 2020

Acquisitions Industrial Texas

CBRE Brokers Sale of 18,540 SF Industrial Building in El Paso

by Taylor Williams May 15, 2020

EL PASO, TEXAS — CBRE has brokered the sale of an 18,540-square-foot industrial building located at 1525 Magoffin Ave. in El Paso. According to LoopNet Inc., the single-tenant property was built in 1950. Chad McCleskey with CBRE’s El Paso represented the seller, Lanestone LLC, in the transaction. Ricardo Fernandez, also with CBRE, represented the buyer, Marivani LLC, which is expanding into a larger space for its commercial equipment sales business.

May 15, 2020

Leasing Activity Office Texas

Software Developer Signs 17,327 SF Office Lease at Cypress Waters in Coppell, Texas

by Taylor Williams May 15, 2020

COPPELL, TEXAS — Business software developer Optym has signed a 17,327-square-foot office lease at Cypress Waters, a 1,000-acre mixed-use development by Billingsley Co. in Coppell, just outside DFW International Airport. Optym plans to relocate its headquarters from Gainesville, Fla., to the new space beginning in August. Marijke Lantz of Billingsley Co. represented the landlord internally in the lease negotiations. Christopher Fleeger of Morrow Hill represented Optym.

May 15, 2020

Acquisitions New Jersey Northeast Office

EverWest Sells 303,000 SF Office Complex in Berkley Heights, New Jersey

by Alex Patton May 15, 2020

BERKLEY HEIGHTS, N.J. — EverWest Real Estate Investors, a Denver-based developer, has sold Mountain Heights Corporate Center, a Class A office complex totaling approximately 303,000 square feet in the western New York City suburb of Morristown. Located at 420 and 430 Mountain Ave., the two-building property offers convenient access to Manhattan and Newark Liberty Airport. The property was 80 percent leased at the time of sale. Jose Cruz and Kevin O’Hearn led a JLL team that represented EverWest in the transaction. The team also procured the undisclosed buyer. The sales price was undisclosed.

May 15, 2020

Acquisitions New York Northeast Retail

CBRE Brokers Sale of 165,499 SF Retail Building Leased to Walmart in Upstate New York

by Alex Patton May 15, 2020

NEWARK, N.Y. — CBRE has brokered the $9.2 million sale of a 165,499-square-foot retail building in Newark, a western suburb of Rochester. Located at 6788 NY-31 East, the single-tenant property is fully leased to Walmart. Walmart has occupied the space since 1992 and expanded its original lease by 72,011 square feet in 2006. Nearby retailers include Save-a-Lot, Wegmans, Tractor Supply, Dollar Tree, AutoZone and Walgreens. Jeffrey Dunne, David Gavin, Jeremy Neuer and Travis Langer of CBRE represented the seller, a private investor, in the transaction The team also procured an undisclosed institutional investor as the buyer.

May 15, 2020

Development Massachusetts Multifamily Northeast Seniors Housing

Casa Underway on 26-Unit Senior Living Community in Shrewsbury, Massachusetts

by Alex Patton May 15, 2020

SHREWSBURY, MASS. — Massachusetts-based Casa Builders and Developers is underway on construction of Wyman Farms, a 26-unit senior living community in Shrewsbury, an eastern suburb of Worcester. The property will feature 13 duplex-style residences with two bedrooms each that will be restricted to residents age 55 and older. The property is located near UMass Memorial Medical Center University Campus, multiple golf courses and retailers such as Wegmans, Walmart and Whole Foods Market. The project is slated for completion in 2022.

May 15, 2020

Loans New York Northeast Office

Greystone Provides $30.8M in Fannie Mae Loans for Refinancing of Adjacent Multifamily Properties in Queens

by Alex Patton May 15, 2020

NEW YORK CITY — Greystone has provided two Fannie Mae loans totaling $30.8 million for the refinancing of two adjacent multifamily properties in the Ridgewood neighborhood of Queens. The first loan totaled $14.2 million loan and was used to refinance a 49-unit property at 1635 Putnam Ave. The second loan totaled $16.6 million loan and was used to refinance a 48-unit property at 1625 Putnam Ave. Both Fannie Mae loans carry 12-year terms with 30-year amortization periods. The borrower was Adar Holdings USA. Anthony Cristi of Greystone originated the loan.

May 15, 2020

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