DALLAS — Henry S. Miller Brokerage has negotiated the sale of an 11,800-square-foot industrial building that is situated on roughly half an acre at 9101 Sovereign Row in northwest Dallas. Dan Spika of Henry S. Miller represented the seller, Hart-Willis Cos., in the transaction. Stephen Williamson of Lee & Associates represented the buyer, Dallas-based Mattu Enterprises LLC.
BOSTON — International developer Skanska has topped out a new 118,000-square-foot building at Brookline High School by the MBTA Green Line Brookline Hills station in Boston. The building will include classrooms for physics, special education and general use, dedicated event space, dining and food service areas, a library, various collaboration spaces and room for general administrative work. Completion is slated for November 2021. In addition, Skanska is renovating an existing building to feature 70,000 square feet of biology and chemistry labs and classrooms, collaboration and maker spaces, a culinary arts kitchen and a student restaurant with café seating.
BEAVERTON, ORE. — Nike Inc. (NYSE: NKE), the Beaverton-based footwear giant, has reported it revenues were $10.6 billion for its 2021 fiscal first quarter, which ended Aug. 31. The revenue represents a decrease of 1 percent from the same period in 2019, with its direct sales at $3.7 billion, up 12 percent, and Nike Brand digital sales swelling by 82 percent. The digital sales growth resulted from e-commerce increases across North America, Greater China, Asia Pacific, Latin America, Europe, the Middle East and Africa. According to the company, its first-quarter revenue performance was impacted by strong Nike Brand digital growth, offset by lower revenue in its wholesale business and Nike-owned stores. Nearly all of the Nike-owned physical stores were open during the quarter. Despite the open stores, Nike experienced year-over-year declines in physical retail traffic across the marketplace due to COVID-19 impacts and safety-related measures. Nike’s selling and administrative expenses decreased 11 percent to $3 billion, with demand creation expense down 33 percent at $677 million primarily due to lower marketing spend as many live sporting events were postponed or cancelled. Additionally, operating overhead expense decreased 1 percent to $2.3 billion as lower travel and related expenses were slightly offset …
WATERTOWN, MASS. — Newmark Knight Frank (NKF) has negotiated two commercial leases totaling 46,966 square feet at Riverworks at Aetna Mills in Watertown, a western suburb of Boston. In the first deal, industrial 3-D printer manufacturer Markforged signed a 36,291-square-foot renewal. In the second transaction, pharmaceutical intelligence provider InCrowd signed a 10,675-square-foot renewal. Mark Roth, Brianna Piacitelli, Brendan Daly and Matthew Malatesta represented the landlord, Paradigm Properties, in the lease negotiations. Chris Lawrence of JLL represented Markforged, and Brooke Blue of T3 Advisors represented InCrowd.
FREEHOLD, N.J. — UMH Properties Inc. (NYSE: UMH), a New Jersey-based REIT, has acquired a manufactured housing community in New York for $4.5 million. The 21-acre property offers 163 developed home sites, about 70 percent of which are occupied. The seller was not disclosed. UMH Properties owns and operates 124 manufactured housing communities totaling roughly 23,400 developed home sites across eight states.
SACRAMENTO, CALIF. — CBRE has negotiated the sale of The Davenport, an apartment community located at 941 43rd Ave. in Sacramento. An affiliate of Abacus Capital Group sold the asset to an undisclosed buyer for $22.5 million. The seller invested in extensive capital renovations to the building exteriors and common area spaces while upgrading 10 percent of the unit interiors. Built in 1970, the 126-unit property features an upgraded swimming pool; remodeled clubhouse, leasing office and fitness center; barbecue area with two gas grills; dog park; laundry facilities; secured gate access; and covered parking. Marc Ross of CBRE’s Sacramento office brokered the sale.
WILKES-BARRE, PA. — CHC Hotel Capital has arranged a $10.5 million construction loan for a Home2 Suites by Hilton property in Wilkes-Barre, located south of Scranton. The property will feature 107 rooms and is expected to be complete in late spring of next year. The loan was structured with a 30-month term and a 75 percent loan-to-value ratio. The borrower and lender were not disclosed.
CENTRALIA, WASH. — Summerfield Commercial has arranged the sale of Park Center Apartments, a multifamily property located at 3007 Borst Ave. in Centralia. Park Center Apartments LLC and Park Center Apartments II LLC, the original developers of the property, sold the asset to Park Center Centralia LLC for $12.9 million, or $154,583 per unit. Originally built in 2000, the 84-unit Park Center Apartments features 28 one-bedroom units and 56 two-bedroom apartments. Units offer open floor plans, in-unit washers/dryers, walk-in closets in select units and a private patios/balconies with attached storage locker. Common amenities include a clubhouse, outdoor swimming pool, hot tub, fitness center and covered parking. Ryan Kidwell and Robert Parmar of Summerfield Commercial brokered the transaction.
YUMA, ARIZ. — Newmark Knight Frank (NKF) has arranged the sale of a neighborhood shopping center in Yuma. Hawkins-Smith & Jason sold the asset to Moreno-Third Street for $3.4 million. Located at 500 W. Cataline Drive, the retail center features 35,157 square feet of retail space. Dollar Tree and dd’s Discounts, a subsidiary of Ross Stores, occupy the two-tenant property. Steve Julius, Jesse Goldsmith and Chase Dorsett of NKF represented the seller and buyer in the deal.
ANTIOCH, CALIF. — Avison Young has brokered the purchase of a retail property located at 3457 Deer Valley Road in Antioch. Dow Credit Union acquired the property for $1.8 million. The buyer plans to use the 5,660-square-foot property as its new headquarters and a store location. In addition to the space Dow is utilizing, the property includes a 1,348-square-foot space occupied by Great Clips, providing additional cash flow for the ownership. Hayden Eaves and Kristen Sullivan of Avison Young represented the buyer in the deal. The property was won via a trust deed sale auction.