Property Type

TMG Negotiates Sale of Willow Creek Multifamily Community in San Diego County for $8.5M

by Amy Works June 12, 2020

EL CAJON, CALIF. — The Mogharebi Group (TMG) has brokered the sale of Willow Creek, a multifamily property located at 8410 Los Coches Road in El Cajon. A Southern California-based private investor acquired the asset for $8.5 million. The seller was a Southern California-based investor. Built in 1987, Willow Creek features 33 apartments in a mix of two- and two-bedroom floor plans spread across two three-story residential buildings totaling 31,800 rentable square feet. Units offer upgraded quartz countertops, stainless steel appliances, air conditioning, new flooring, accented painted interiors and in-unit washers/dryers. Community amenities include a swimming pool, hillside views and covered parking. Alex Mogharebi and Otto Ozen of TMG represented the seller in the deal.

June 12, 2020

Development Massachusetts Multifamily Northeast

WinnCompanies to Develop $38.3M Multifamily Project in Lowell, Massachusetts

by Taylor Williams June 12, 2020

LOWELL, MASS. — WinnCompanies will develop a 125-unit multifamily project in Lowell, a city 30 miles northwest of Boston, a project that is valued at $38.3 million. The company will construct two adjacent five-story buildings in the Hamilton Canal Innovation District that will be linked by an enclosed sky bridge and located near a new 900-space parking garage. The community will feature a mix of market-rate and affordable units, as well as 5,000 square feet of commercial space. Floor plans consist of 15 studio apartments, 63 one-bedroom units and 47 two-bedroom apartments. Bank of America provided a senior construction loan for the project. Construction is underway and is expected to be complete in the first quarter of 2022.

June 12, 2020

200-International-Drive-Mount-Olive-New-Jersey

Industrial Leasing Activity New Jersey Northeast

Cushman & Wakefield Negotiates 102,839 SF Industrial Sublease in Mount Olive, New Jersey

by Taylor Williams June 12, 2020

MOUNT OLIVE, N.J. — Cushman & Wakefield has negotiated a 102,839-square-foot industrial sublease for game publisher and manufacturer Breaking Games LLC in Mount Olive, located 50 miles west of New York City. The space is located within 200 International Drive, an approximately 217,500-square-foot industrial property that was constructed in 1984. The building features 24-foot clear heights, nine loading docks and approximately 6,000 square feet of office space. The property also offers convenient access to Interstate 80 and State Route 46. Stephen Sander of Cushman & Wakefield represented the sublandlord, Bosal USA, in the negotiations

June 12, 2020

Acquisitions Colorado Industrial Western

NAI Brokers $7.3M Sale of Industrial Building in Denver

by Amy Works June 12, 2020

DENVER — NAI Shames Makovsky has arranged the sale of an industrial asset located at 11100 E. 51st Ave. in Denver. Colorado Farms sold the property to GS 51st LLC for $7.3 million. The building consists of 60,758 square feet of industrial space. Jake Malman and Sandy Feld of NAI Shames Makovsky represented the seller in the deal.

June 12, 2020

Acquisitions Colorado Net Lease Retail Western

NavPoint Arranges Sale of O’Reilly Auto Parts-Occupied Asset in Colorado for $2.4M

by Amy Works June 12, 2020

FOUNTAIN, COLO. — NavPoint Real Estate Group has negotiated the sale of a single-tenant retail property located at 7985 Fountain Mesa Road in Fountain. RJ at MMR LLC sold the building to Foothills Property Group for $2.4 million. Built in 2017, the 7,150-square-foot property is part of the Markets at Mesa Ridge shopping center. O’Reilly Auto Parts occupies the building on a net-lease basis. Matt Call and Ian Elfner of NavPoint Real Estate Group represented the seller, while Chris Student of Brockman Group represented the buyer in the transaction.

June 12, 2020

Acquisitions New Jersey Northeast Office

NKF Arranges Sale of 95,111 SF Office Building in Warren, New Jersey

by Taylor Williams June 12, 2020

WARREN, N.J. — Newmark Knight Frank has arranged the sale of a 95,111-square-foot office building in Warren, a southwestern suburb of New York City. The Class B property was constructed in 1987 and is located at 30 Technology Drive S. At the time of sale, the property was 92 percent leased to tenants in the medical, engineering and technology sectors. Kevin Welsh, Brian Schulz and Jason Emrani of NKF represented the seller, a joint venture partnership between Ivy Realty and Waterfall Asset Management. The team also procured the buyer, Mountain Development Corp. The sales price was undisclosed.

June 12, 2020

Company News Multifamily New York Northeast

Extell Development Partners With Startup Avo to Offer Residential Delivery of Products in Manhattan

by Taylor Williams June 12, 2020

NEW YORK CITY — Extell Development Co., a New York-based developer, has partnered with delivery service startup Avo to offer product delivery services as an amenity at One Manhattan Square, Extell’s 815-unit residential building in Lower Manhattan. Avo will provide residents with free, same-day delivery of a range of products including groceries, electronics, household goods and personal care items from its own online store. The service will require no minimum order size and will be facilitated through “Experience by Extell,” the developer’s in-house lifestyle management platform. Avo entered the New York market last year, primarily servicing office buildings, but has accelerated its residential partnerships during the COVID-19 outbreak.

June 12, 2020

Acquisitions Industrial Texas

MAG Capital Partners Acquires 139,150 SF Industrial Portfolio Near Fort Worth

by Taylor Williams June 12, 2020

HALTOM CITY, TEXAS — MAG Capital Partners LLC has acquired a 139,150-square-foot industrial portfolio in the Fort Worth suburb of Haltom City from San Francisco-based private equity firm P4G Capital. The eight-building portfolio, which was acquired in a sale-leaseback transaction, is leased to local aerospace firm Fore Aero. P4G Capital acquired Fore Aero and the real estate in 2017. Andy Rogers of Kelly Hart & Hallman and Mary Garnett of law firm Barnes & Thornburg represented MAG Capital Partners in the transaction. Bryan Huber of New York-based SAB Capital represented the seller. MAG Capital Partners is a Fort Worth-based development and investment firm formed in 2015 by Dax T.S. Mitchell and Andrew Gi.

June 12, 2020

Loans Office Texas

Bank OZK Provides $26.6M Construction Loan for East Austin Office Project

by Taylor Williams June 12, 2020

AUSTIN, TEXAS — Regional lender Bank OZK has provided a $26.6 million construction loan for a 91,635-square-foot office project that will be located at 4713 E. Cesar Chavez St. in one of East Austin’s opportunity zones. The five-story, Class A building will include ground-floor retail space and a 269-space parking structure. De’On Collins, Chris McColpin, Jayme Nelson and Alastair Barnes of JLL placed the loan on behalf of the borrower, a partnership between HN Capital Partners and Austin-based Red Bluff Partners. The developer plans to construct a boutique hotel as part of the second phase.

June 12, 2020

Development Multifamily Seniors Housing Texas

Aspen Heights Breaks Ground on 150-Unit Active Adult Community in San Antonio

by Taylor Williams June 12, 2020

AUSTIN, TEXAS — Regional lender Bank OZK has provided a $26.6 million construction loan for a 91,635-square-foot office project that will be located at 4713 E. Cesar Chavez St. in one of East Austin’s opportunity zones. The five-story, Class A building will include ground-floor retail space and a 269-space parking structure. Completion is scheduled for January 2022. De’On Collins, Chris McColpin, Jayme Nelson and Alastair Barnes of JLL placed the loan on behalf of the borrower, a partnership between HN Capital Partners and Austin-based Red Bluff Partners. The developer plans to construct a boutique hotel as part of the second phase.

June 12, 2020

Newer Posts

Older Posts