Property Type

Montecito Acquires 91,300 SF Medical Office Building in Sandusky, Ohio

by Kristin Harlow January 14, 2021

SANDUSKY, OHIO — Montecito Medical Real Estate has acquired a three-story, 91,300-square-foot medical office building in Sandusky, about 60 miles west of Cleveland. The purchase price and seller were undisclosed. The facility serves as the flagship location for Northern Ohio Medical Specialists (NOMS) and is fully leased to the organization. The building was constructed in 2009 and expanded in 2018 with the addition of an ambulatory surgery center. NOMS is a major provider across Northern Ohio, with 45 locations and more than 260 providers in 30 different medical specialties.

January 14, 2021

Industrial Leasing Activity Michigan Midwest

MollerTech Leases Newly Constructed Industrial Building in Macomb Township, Michigan

by Kristin Harlow January 14, 2021

MACOMB TOWNSHIP, MICH. — MollerTech LLC has leased 51280 Regency Center Drive, a newly constructed industrial and office building spanning 65,106 square feet in Macomb Township. MollerTech’s luxury automotive leather assembly division will occupy the space. MollerTech expects to move into the new space in March and create more than 75 skilled labor jobs. Joe DePonio and Jason Capitani of L. Mason Capitani CORFAC International represented both the tenant and undisclosed landlord in the lease transaction.

January 14, 2021

Acquisitions Illinois Midwest Multifamily

Kiser Group Brokers $7.2M Sale of Multifamily Property in Lockport, Illinois

by Kristin Harlow January 14, 2021

LOCKPORT, ILL. — Kiser Group has brokered the $7.2 million sale of Lockport South Apartments in Lockport, about 30 miles southwest of Chicago. Located at 551 Diane Court, the 80-unit property was owned by the same entity since the 1980s. Matt Halper, Danny Mantis and Lee Kiser of Kiser Group brokered the sale. The buyer and seller information was undisclosed.

January 14, 2021

Acquisitions Midwest Missouri Restaurant Retail

Block & Co. Acquires Net-Leased Restaurant Property in Liberty, Missouri

by Kristin Harlow January 14, 2021

LIBERTY, MO. — Block & Co. Inc. Realtors has acquired a 2,685-square-foot property occupied by Dickey’s Barbecue Pit in Liberty within metro Kansas City. The purchase price was undisclosed. The net-leased building is located at 600 S. 291 Highway. Block & Co. will serve as property manager. David Block of Block & Co. represented the company in its purchase.

January 14, 2021

Loans Multifamily New Jersey Northeast Seniors Housing

Cushman & Wakefield Arranges Acquisition Financing for Seniors Housing Portfolio in New Jersey

by Taylor Williams January 14, 2021

CHERRY HILL, VOORHEES AND STAFFORD TOWNSHIP, N.J. — Cushman & Wakefield has arranged an undisclosed amount of acquisition financing for a three-property seniors housing portfolio in New Jersey. The borrower was a joint venture between Chicago-based Harrison Street and LCB Senior Living. The communities, which are all operated under the Atria brand, total 263 units of assisted living and memory care. Two properties are located in the Philadelphia suburbs of Cherry Hill and Voorhees, while the third is in Stafford Township near the Jersey Shore. Cushman & Wakefield arranged the nonrecourse financing through Synovus Bank, with portions of the proceeds earmarked for capital expenditures. Richard Swartz, Jay Wagner, Aaron Rosenzweig, Jim Dooley and Bailey Nygard of Cushman & Wakefield handled the transaction.

January 14, 2021

Affordable Housing Loans Multifamily New York Northeast

Greystone Provides $59M in HUD-Insured Financing for Affordable Housing Portfolio in Harlem

by Taylor Williams January 14, 2021

NEW YORK CITY — Greystone has provided $59 million in HUD-insured financing for a portfolio of three affordable housing properties totaling 143 units in Harlem. Proceeds will be used to preserve the affordability of the Section 8 properties and to take out a $45 million bridge loan previously provided by Greystone for the acquisition of the assets. Leor Dimant of Greystone originated the nonrecourse financing, which carries a fixed interest rate, a 35-year term and a 35-year amortization schedule, through HUD’s 223(f) program. The borrower was not disclosed.

January 14, 2021

Acquisitions New Jersey Northeast Retail

Sterling Organization Acquires 94,550 SF Grocery-Anchored Retail Center in Sewell, New Jersey

by Taylor Williams January 14, 2021

SEWELL, N.J. — Sterling Organization, a Florida-based private equity firm, has acquired Mill Pond Village, a 94,550-square-foot, grocery-anchored retail center located in the Southern New Jersey community of Sewell. ShopRite is the anchor grocer at the center, which is located approximately 14 miles outside of Philadelphia. The seller was EDENS, a national retail development firm. Jim Galbally, Chris Munley and Colin Behr of JLL brokered the transaction. The property was 95 percent leased at the time of sale.

January 14, 2021

Acquisitions Industrial New Jersey Northeast

JLL Negotiates Sale of 55,000 SF Industrial Property in Boonton, New Jersey

by Taylor Williams January 14, 2021

BOONTON, N.J. — JLL has negotiated the sale of a 55,000-square-foot light industrial property located at 95 Fulton St. in Boonton, about 30 miles west of New York City. The property is situated on 14.2 acres and features 24- to 40-foot clear heights, 112 parking spaces and 11,000 square feet of office space. Howard Weinberg of JLL represented the seller, steel manufacturer Erasteel Inc., in the transaction. Jeffrey Fulton and Jason Levy of Team Resources Inc. represented the buyer, J. Supor & Son Trucking & Rigging.

January 14, 2021

Acquisitions Industrial NAI New Jersey Northeast

NAI Hanson Brokers Sale of 45,670 SF Industrial Building in Clifton, New Jersey

by Taylor Williams January 14, 2021

CLIFTON, N.J. — NAI James E. Hanson has brokered the sale of a 45,670-square-foot industrial building located at 9 Bridewell Place in the Northern New Jersey city of Clifton. Building features include 23-foot clear heights and 11,102 square feet of office space. Ken Lundberg, Darren Lizzack, Randy Horning, Pat Lennon and Lorenzo Lambiase of NAI Hanson represented the seller, Challenge Partners LLC, in the transaction. The buyer was beverage producer and distributor 3 V Co. Inc.

January 14, 2021

Acquisitions Industrial Massachusetts Northeast Top Stories

CBRE Arranges $154M Sale of Industrial Portfolio in Metro Boston

by Alex Tostado January 14, 2021

WILMINGTON, MASS. — CBRE has arranged the $154 million sale of an eight-building, 687,000-square-foot industrial portfolio in Wilmington. The properties were 96 percent leased at the time of sale to 27 tenants including Crate & Barrel, Energy Sciences, 3Step Sports and Altro USA Inc. A joint venture between Boston-based Oliver Street Capital and Bain Capital Real Estate acquired the portfolio, which spans 49 acres. The buildings are located at 21, 42, 65 and 80 Industrial Way; 42 and 80 Rear Industrial Way; 1 Progress Way; and 844 Woburn St., four miles north of the Interstate 95-93 interchange and 17 miles north of Boston Logan International Airport. Scott Dragos, Doug Jacoby, Chris Skeffington, Tony Hayes, Tim Mulhall, Roy Sandeman and Daniel Hines of CBRE represented the seller, I. Fred Dicenso Trust LLC, in the transaction. “Boston is a target market on all investors’ radar right now, and it’s not very often a true infill industrial cluster becomes available,” says Dragos. “What this portfolio uniquely offered was its scale, location, proximity to I-93 and market opportunities.” — Alex Tostado

January 14, 2021

Newer Posts

Older Posts