Property Type

Village-at-Rayzor-Ranch-DentonVillage-at-Rayzor-Ranch-Denton

Square Mile Capital Provides $45.5M Acquisition Loan for North Texas Multifamily Asset

by Taylor Williams March 22, 2021

DENTON, TEXAS — Square Mile Capital has provided a $45.5 million acquisition loan for Village at Rayzor Ranch, a 300-unit multifamily community located within the Rayzor Ranch mixed-use development in Denton. Built in 2019, the property offers amenities such as a pool, fitness center, art clubhouse, outdoor grilling areas, dog park, pickleball and bocce ball courts, coworking space, coffee bar and an outdoor yoga terrace. Dustin Dulin of JLL arranged the loan on behalf of the borrower, Seven Seas Holdings. EPC Real Estate Group developed Village at Rayzor, which was approximately 90 percent occupied at the time of sale.

March 22, 2021

Florida Leasing Activity Office Retail Southeast

Sterling Bay Signs Retail Lease with Love Life Café at 545WYN in Miami

by Julia Sanders March 22, 2021

MIAMI — Sterling Bay, a Chicago-based real estate development firm, has signed a retail lease with eatery Love Life Café in Miami’s Wynwood district. Love Life Café will take 3,767 square feet of storefront space at 545wyn, Wynwood’s first Class A creative office building. Sterling Bay broke ground on 545wyn in January 2019 and completed the building in late 2020. The 298,000-square-foot creative office and retail property offers tenants flexible floorplates and access to amenities like a wellness center, touchless elevator systems, lounges with outdoor space, air filtration systems, a private parking garage and art installations by local artists. Gensler, the global design and architecture firm, is another confirmed tenant. Love Life Café, a plant-based dining concept, will be relocating its existing Wynwood location at 2616 NW 5 Ave. to its new location at 545 NW 26th St. later this year. Veronica Menin and her husband, Diego Tosoni, created Love Life Café in 2015. Tosoni, a self-taught chef with a passion for vegan cooking, aims to bring plant-based foods to 545wyn, serving breakfast, lunch and dinner items. Love Life Café currently operates venues at Time Out Market in Miami Beach and another at 18 N Dollins Ave. in Orlando.

March 22, 2021

Loans Multifamily Texas

Berkadia Closes $26.8M Agency Acquisition Loan for Metro Dallas Apartments

by Taylor Williams March 22, 2021

LEWISVILLE, TEXAS — Berkadia has provided a $26.8 million Freddie Mac acquisition loan for Arbor Creek, a 280-unit apartment community in the northern Dallas suburb of Lewisville. The property was built in 1984, and its units offer washers and dryers and private balconies/patios. Amenities include a fitness center, dog park and picnic areas. Mitch Sinberg and Brad Williamson of Berkadia originated the floating-rate financing on behalf of the borrower, Miami-based Eagle Property Capital. The seller was Dallas-based CONTI Organization.

March 22, 2021

Acquisitions Arizona Industrial Western

BKM Capital Sells Koll Cotton Center in Phoenix to TerraCap Management for $30.9M

by Amy Works March 22, 2021

PHOENIX — BKM Capital Partners has completed the sale of Koll Cotton Center, a seven-building light industrial park in Phoenix. Naples, Fla.-based TerraCap Management acquired the asset for $30.9 million. Situated on 17.8 acres at 4050 E. Cotton Center Blvd., Koll Cotton Center offers 225,403 square feet of light industrial space within Cotton Center Business Park, a 286-acre mixed-use development. Built in 2000, the property has undergone a multimillion-dollar improvement and enhancement plan that includes speculative suite buildouts, new signage and interior and exterior improvements. At the time of sale, the property was 93 percent leased to 20 tenants. Buildings feature 16- to 18-foot clear heights, ample parking and office finishes. Mark Detmer, Ryan Sitov, Steve Sayre, Mark Gustin and Dave Seeger of JLL Capital Markets represented the seller in the transaction. Additionally, Kevin MacKenzie and Jason Carlos of JLL Capital Markets Debt Placement arranged a $23.2 million, five-year, floating-rate acquisition through an unnamed life insurance company on behalf of TerraCap.

March 22, 2021

Acquisitions Industrial Texas

Lee & Associates Brokers Sale of 52,000 SF Manufacturing Building in Houston

by Taylor Williams March 22, 2021

HOUSTON — Lee & Associates has brokered the sale of a manufacturing building located on approximately 7.9 acres at 9110 Taub Road in Houston. According to LoopNet Inc., the property was built on 10 acres in 1997. Mike Spears and Frank Blackwood of Lee & Associates represented the buyer, Integrated Induction Inc., in the transaction. David Boyd and Wes Williams of Boyd Commercial represented the Houston-based seller, Allegiance Bank.

March 22, 2021

Leasing Activity Office Texas

Axiom Space Signs 32,389 SF Office Lease Expansion Near NASA Johnson Space Center in Houston

by Taylor Williams March 22, 2021

HOUSTON — Axiom Space Inc., a locally based developer of space infrastructure, has signed a 32,389-square-foot office lease expansion at 1290 Hercules Ave. near the NASA Johnson Space Center in Houston. Matthew Seliger, Doug Little and Louann Pereira of Transwestern represented the building owner, Capital Commercial Investments Inc., in the lease negotiations. Noah Kruger and Derrell Curry of Savills Inc. represented the tenant, which originally leased space at the 63,716-square-foot building last year. The new lease expansion brings the property to full occupancy.

March 22, 2021

Acquisitions Multifamily Washington Western

Colliers Negotiates $21.3M Acquisition of Portal Apartment Building in Seattle

by Amy Works March 22, 2021

SEATTLE — Colliers International has arranged the purchase of The Portal, a multifamily property located at 743 N. 35th St. in Seattle’s Fremont neighborhood. A local family office acquired the property for $21.3 million, or $690 per net rentable square foot. The name of the seller was not released. Recently completed, The Portal features 54 apartments and was sold pre-stabilization, closing 90 days after the seller received the certificate of occupancy. Tim McKay, Dan Chhan, Sam Wayne and Matt Kemper of Colliers Pacific Northwest Multifamily Advisor team represented the buyer in the transaction.

March 22, 2021

Acquisitions Colorado Office Western

Continental Divide Holdings Buys 8,000 SF Office Property in Littleton, Colorado for Medical Office Conversion

by Amy Works March 22, 2021

LITTLETON, COLO. — Continental Divide Holdings LLC has acquired an office property located at 8331 Continental Divide in Littleton. Colorado Credit Union sold the asset for an undisclosed price. Formerly a credit union brand and headquarters, the 8,000-square-foot property feature a drive-thru and monument signage. The buyer plans to convert the building into a medical office space for use as its pediatric practice. Rick Egitto of Avison Young, along with Justin Rayburn of Fountainhead Commercial Properties, represented the seller, while Dann Burke and Stephani Gaskins of CBRE Healthcare Real Estate Brokerage Services represented the buyer in the deal.

March 22, 2021

Acquisitions California Industrial Western

Lee & Associates Brokers $13M Acquisition of Industrial Building in Carlsbad, California

by Amy Works March 22, 2021

CARLSBAD, CALIF. — Lee & Associates has arranged the purchase of a single-tenant industrial property located at 6212 Corte del Abeto in Carlsbad. Elion Acq LLC acquired the asset from an undisclosed seller for $13 million. Built in 1987, the 70,224-square-foot building features two dock-high doors, six grade-level doors, up to 26-foot clear heights and visibility on Palomar Airport Road. The property is located within Palomar Airport Business Park. Rusty Williams, Chris Roth, Greg Pieratt and Jake Rubendall of Lee & Associates – North San Diego County represented the buyer in the transaction.

March 22, 2021

1000-Southgate-Pkwy.-Morristown-New-Jersey

Acquisitions New Jersey Northeast Office

Birch Group Acquires Office Portfolio in Morristown, New Jersey, for $77M

by Taylor Williams March 22, 2021

MORRISTOWN, N.J. — The Birch Group, a New York-based investment firm, has acquired a portfolio of three office buildings totaling 411,737 square feet in the Northern New Jersey city of Morristown. The sales price was $77 million. The buildings are located at 60 Columbia Drive, 100 Southgate Pkwy. and 1200 Mount Kemble Ave. and were collectively 98 percent leased at the time of sale. Cushman & Wakefield represented the seller, Lincoln Equities Group, in the transaction.

March 22, 2021

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