Property Type

West-Craig-Industrial-Center-North-Las-Vegas-NV

Lincoln Property Purchases New Industrial Park Near Las Vegas for $48.6M

by Amy Works November 16, 2020

NORTH LAS VEGAS, NEV. — The Desert West Region of Lincoln Property Co. (LPC Desert West) has increased its Nevada presence with the acquisition of West Craig Industrial Center at 70-78 W. Craig Road in North Las Vegas. A partnership between Huntington Industrial Properties and Polk Street Industrial sold the asset to LPC Desert West for $48.6 million. Delivered in 2019, West Craig Industrial Center features 343,820 square feet of Class A industrial space on 20 acres. The three-building portfolio offers 30- to 32-foot clear heights, 91 dock doors with a combination of drive-in and dock-high configurations, ESFR sprinklers and insulated ceilings. Darla Longo and Barbara Emmons of CBRE’s National Partners Team represented the seller in the deal. LPC Desert West will provide property management services for West Craig Industrial Center. With this acquisition, LPC Desert West now owns nine buildings and almost 800,000 square feet of industrial space in Nevada.

November 16, 2020

Acquisitions Arizona Multifamily Western

Shefflin Properties Sells Dunlap Falls Multifamily Community in Phoenix to Tides Equities for $40.5M

by Amy Works November 16, 2020

PHOENIX — California-based Shefflin Properties has completed the disposition of Dunlap Falls, an apartment property located in Phoenix. California-based Tides Equities acquired the asset for $40.5 million. Located at 3333 W. Dunlap Ave., Dunlap Falls features 288 two- and three-bedroom apartments with patios or balconies, walk-in closets and central air and heating. Community amenities include a swimming pool and spa, large clubhouse, leasing center, covered parking and gated access. Ric Holway, Mark Forrester and Dan Cheyne of Berkadia’s Phoenix office represented the seller in the deal.

November 16, 2020

Kinesiology-Aquatics-Pavilion-Costa-Mesa-CA

California Civic Development Western

C.W. Driver Completes $36M Orange Coast College Kinesiology, Aquatics Pavilion in Costa Mesa, California

by Amy Works November 16, 2020

COSTA MESA, CALIF. — C.W. Driver Cos. has completed the construction of the Kinesiology and Aquatics Pavilion at Orange Coast College (OCC) in Costa Mesa. The three-building, 88,000-square-foot athletics center features expanded and modernized space for a variety of OCC programs, including physical education, athletics, sports medicine and kinesiology studies. Built in two phases, the initial stage included new construction of a 58,000-square-foot, multi-building complex, while Phase II included the renovation of a 30,000-square-foot structure that housed men’s and women’s locker rooms and existing pool areas. The project included the addition of a 65-meter competition pool with double bulkheads, 25-meter instructional pool and 450-person capacity bleachers. The three buildings are interconnected by an overhead structure that provides shade. Additionally, the new pavilion features division offices, athletic training, equipment management, locker rooms/showers and support spaces for aquatic programs. The pavilion is also home to the school’s adapted kinesiology program, which encourages individuals with disabilities and/or chronic illness to study and apply general fitness and movement principles throughout their lifelong participation in physical activity, exercise and sport. The $36 million Kinesiology and Aquatics Pavilion is part of a larger project funded by Measure M, a $698 million general obligation bond provided and …

November 16, 2020

Acquisitions Industrial Washington Western

CenterPoint Acquires 51,281 SF Rail-Served Industrial Property in Tacoma, Washington

by Amy Works November 16, 2020

TACOMA, WASH. — CenterPoint Properties has added an industrial property located at 2021 Marc St. in Tacoma to its existing 28-acre Port of Tacoma portfolio. Terms of the transaction were not released. CenterPoint has plans to reposition the 51,281-square-foot building, which sits on seven acres, and offer it for lease. The property is served by railroad and features a secured yard and a 1,500-square-foot office space. CenterPoint owns two adjacent properties on Lincoln Avenue and Marc Street. The assets are a half-mile from the Port of Tacoma deep-water container terminals and offer easy access to State Route 167 and interstates 5 and 270. Raymond Schuler of Kidder Mathews represented the undisclosed seller, while Christian Mattson and Billy Moultrie of Lee & Associates represented CenterPoint in the transaction.

November 16, 2020

Day-Creek-Senior-Villas-Rancho-Cucamonga-CA

California Development Loans Multifamily Seniors Housing Western

IEHP, National CORE Provide $1.5M for Construction of Day Creek Senior Villas in Southern California

by Amy Works November 16, 2020

RANCHO CUCAMONGA, CALIF. — Inland Empire Health Plan (IEHP) has partnered with National Community Renaissance (National CORE) to provide $1.5 million for the construction of Day Creek Senior Villas in Rancho Cucamonga, approximately 40 miles east of Los Angeles. Through this partnership with National CORE, one of the nation’s largest nonprofit developers of affordable housing, the health plan will receive access to 10 apartment units in the facility. These units will provide permanent housing for homeless seniors who are IEHP members transitioning out of long-term care. “It is a sad statement that one of the fastest-growing segments of homeless adults is seniors,” says Karen Hansberger, IEHP’s chief medical officer. “Seniors coming out of skilled nursing facilities many times have no safe place to call their home.”

November 16, 2020

District of Columbia Loans Multifamily Southeast

Berkadia Provides $250M Refinancing Loan for Apartment Complex in D.C.

by Alex Tostado November 16, 2020

WASHINGTON, D.C. — Berkadia has provided a $250 million Freddie Mac loan for the refinancing of Meridian at Mt. Vernon Triangle, a 783-unit apartment complex in Washington, D.C. The loan features 10 years of interest-only payments. The property offers studio, one- and two-bedroom floor plans, which feature full-size washers and dryers. Communal amenities include underground parking, a fitness center, rooftop pool with sundeck, outdoor lounge and a grilling area. The 14-story community is located at 425 L St. NW, one mile east of downtown D.C. J. Tyler Blue and Paul Wallace of Berkadia originated the loan on behalf of the undisclosed borrower.

November 16, 2020

Acquisitions Industrial Texas

Fort Capital Sells 606,889 SF Light Industrial Portfolio in DFW

by Taylor Williams November 16, 2020

FORT WORTH, TEXAS — Locally based investment firm Fort Capital has sold a portfolio of 18 light industrial buildings totaling 606,889 square feet located throughout the Dallas-Fort Worth (DFW) metroplex. Each of the Class B properties offers proximity to one of the metroplex’s major interstates. The portfolio was 95 percent occupied at the time of sale. The buyer was not disclosed. Stephen Bailey, Dustin Volz, Zane Marcell, Wesley Gilmer and Erin Lazarus of JLL represented the seller in the transaction. Birtcher Anderson, in a joint venture with Belay Investment Group, purchased the portfolio.

November 16, 2020

Development Industrial South Carolina Southeast

Michelin to Invest $100M in Upstate South Carolina Over Next Seven Years

by Alex Tostado November 16, 2020

GREENVILLE, S.C. — Michelin North America will invest $100 million in equipment and manufacturing over the next seven years in Greenville. Michelin North America has been headquartered in Greenville since 1985. The France-based tire company employs 9,700 workers in South Carolina, with more than 4,300 of those jobs in Greenville County. As part of the investment agreement with the County, Michelin will continue to pay a set fee rather than taxes for an additional five years. Since opening its first manufacturing facilities in Greenville in 1975, Michelin has invested more than $1 billion in Greenville County, according to County officials.

November 16, 2020

District of Columbia Office Southeast

CoStar: Users Nearly Double Amount of Sublease Space in US Office Market in Second, Third Quarters

by Alex Tostado November 16, 2020

WASHINGTON, D.C. — Office users across the United States added 42 million square feet of office space to the sublease market during the second and third quarters, according to a new report from CoStar Group. As of the end of September, the country’s inventory of office sublease space stood at approximately 157 million square feet, a 44 percent increase from third-quarter 2019. While office users added about 14 million square feet of office space to the sublease supply during the second quarter, growth was even more pronounced during the third quarter, when tenants put some 28.5 million square feet up for sublease. According to a Federal Reserve Bank of Dallas survey, 24 percent of employed Americans were working from home in August due to COVID-19 shutdowns. An additional 18 percent of workers went into the office some days. According to the survey, 8 percent of Americans worked from home full-time prior to the pandemic. CoStar reports that among the biggest users to put sublease space on the market were pharmaceutical giant Sanofi (415,000 square feet in Northern New Jersey); retailer Macy’s (309,660 square feet in New York); insurance company USAA (305,110 square feet in San Antonio); Ebay (212,110 square feet …

November 16, 2020

Acquisitions Georgia Multifamily Southeast

Cushman & Wakefield Arranges $68.2M Sale of Multifamily Community in Metro Atlanta

by Alex Tostado November 16, 2020

SMYRNA, GA. — Cushman & Wakefield has arranged the $68.2 million sale of The Eddy at Riverview Landing, a 310-unit multifamily community in Smyrna. The property offers one-, two- and three-bedroom floor plans. Communal amenities include a fitness center, bike storage, walking trails, dog park and a car charging station. The property is situated along the Chattahoochee River at 6255 Riverview Road SE, 10 miles west of downtown Atlanta. Watson Bryant, Paul Marley and Taylor Bird of Cushman & Wakefield represented the seller, Prestwick Cos., in the transaction. JEM Holdings acquired the asset.

November 16, 2020

Newer Posts

Older Posts