AUSTIN AND SOUTHLAKE, TEXAS — Talonvest Capital Inc. has arranged two bridge loans totaling $12.7 million for the refinancing of two self-storage facilities in Texas. The properties total 1,339 units across 161,670 net rentable square feet. One of the properties is located at 11000 Lakeline Blvd. in Austin, and the other is located at 2030 E. Continental Blvd. in the Fort Worth suburb of Southlake. An undisclosed life insurance company provided the funds to the borrower, a partnership between Houston-based self-storage developer The Jenkins Organization and its private equity partner, Clark Investment Group.
DALLAS — JLL has negotiated an 8,178-square-foot office lease at Lake Highlands Tower in Dallas. The building was recently renovated to include a new fitness center, expanded café and tenant lounge and an upgraded conference room. Lauren Halstedt, Ashley Curry and Garrett Nerren of JLL represented the landlord, Malouf Interests, in the lease negotiations. Eric Deuillet of Structure Commercial represented the tenant, Dallas-based physician management services firm 99 Healthcare Management.
SAN ANTONIO — Owner-operator H5 Data Centers will undertake a 5,000-square-foot expansion project at its 80,000-square-foot colocation facility located at 100 Taylor St. in San Antonio. The project will add Tier III infrastructure capacity to the facility. Data center tiers refer to the requirements of distribution paths, cooling and other components that are used to differentiate facilities. A timeline for the project was not released.
SPRING, TEXAS — Sherwin Williams has signed a 4,000-square-foot retail lease at Harmony Commons Plaza, a newly built shopping center located in Spring, a northern suburb of Houston. The 11,207-square-foot center is located at the corner of Grand Parkway and Harmony Commons Drive. Tami Pearson of Waterman Steele represented Sherwin Williams, which expects to open in the fourth quarter, in the lease negotiations. Bob Conwell and Austen Baldridge of NewQuest Properties represented the landlord, B&B North American Investments LLC.
LIVE OAK, TEXAS — Marcus & Millichap has brokered the sale of a 2,194-square-foot freestanding retail building in the San Antonio suburb of Live Oak that is net leased to Take 5 Oil Change. Vincent Knipp and Blake Burnett of Marcus & Millichap represented the seller in the transaction. Gabriel Britti and Ronnie Issenberg, also with Marcus & Millichap, represented the buyer. Both parties were private investors that requested anonymity.
ISELIN, N.J. — Cushman & Wakefield has brokered the $140 million sale of a 470,692-square-foot office building located at 194 Wood Ave S. in Iselin, located west of Staten Island. The sales price equates to $297 per square foot. Anchored by IBM, the property is located within the Metropark corporate office campus and was fully leased to seven tenants at the time of sale. Andy Merin, David Bernhaut, Gary Gabriel, Kevin Donner, Frank DiTommaso, Kevin Carton and Todd Elfand of Cushman & Wakefield represented the seller, AIG, in the transaction. The buyer was New York City-based investment firm Opal Holdings.
TETERBORO, N.J. — Madison Marquette has added Teterboro Landing, a 383,000-square-foot retail power center in Teterboro, about 20 miles northwest of New York City, to its leasing portfolio. The property was built in 2015 and was fully leased at the time of sale to tenants such as Panera Bread, BJ’s Brewhouse, Chick-fil-A, Habit Burger, European Wax and T-Mobile. BIT Teterboro Landing Shops Urban Renewal LLC owns the center.
ROCHESTER, N.Y. — Developer WinnCos. has completed Liberty Lofts at Sibley Square, a $23.6 million workforce housing project in Rochester. The property, which is a redevelopment of a historic 1.1 million-square-foot building, adds 104 units to the local supply. Fifty-three units are available at rents of up to 60 percent of the area median income (AMI); three units are available at rents up to 100 percent of AMI; and 48 units are available at rents of up to 110 percent of AMI. The Architectural Team of Chelsea, Mass. designed the project, and DiMarco Constructors served as the general contractor.
MALDEN, MASS. — JLL has negotiated the $7.3 million sale of a 50,000-square-foot industrial property in the northern Boston suburb of Malden. The property is located on 1.8 acres at 60 Winter St. in a Qualified Opportunity Zone and was fully leased at the time of sale of sale to aerospace and defense contractor Enjet Aero. Michael Restivo and Matthew Sherry of JLL represented the seller, a private family, in the transaction. Eastern Real Estate acquired the asset in an off-market transaction.
ALBANY, N.Y. — Berkadia has arranged a $5.2 million bridge loan for Albany Apartments. The undisclosed borrower will use the proceeds to acquire and convert the building, which was originally constructed as a townhouse-style hotel, into a 112-unit multifamily community with studio, one- and two-bedroom floor plans. John Sigeti of Berkadia arranged the nonrecourse, interest-only loan, which was structured with a 24-month term and a 75 percent loan-to-value ratio.