Property Type

10-50-Charles-Street-Westwood-New-Jersey

CBRE Negotiates Two Industrial Leases Totaling 67,137 SF in Westwood, New Jersey

by Taylor Williams August 20, 2020

WESTWOOD, N.J. — CBRE has negotiated two industrial leases totaling 67,137 square feet at a 120,000-square-foot industrial facility located at 10-50 Charles St. in Westwood, about 30 miles northwest of New York City. Mavi Jeans signed a lease to occupy 42,507 square feet, and print technology firm Digital Lizard inked a deal for 24,630 square feet. Kevin Dudley, Bill Waxman, Nick Klacik and Elli Klapper of CBRE represented the landlord, Treetop Development, in the lease negotiations. Treetop acquired the property, which features 14- to 22-foot clear heights, 127 car parking spaces and 10,000 square feet of office space, in November 2019.

August 20, 2020

Acquisitions New York Northeast Retail

Marcus & Millichap Brokers Sale of 60,896 SF Retail Asset Leased to ShopRite on Long Island

by Taylor Williams August 20, 2020

UNIONDALE, N.Y. — Marcus & Millichap has brokered the sale of a 60,896-square-foot retail asset in the Long Island city of Uniondale that is net-leased to grocer ShopRite. The sales price was $19.5 million. Barry Wolfe and Glen Kunofsky of Marcus & Millichap’s Manhattan office represented the undisclosed seller in the transaction. Brad Nathanson of Marcus & Millichap’s Institutional Property Advisors (IPA) division in Philadelphia procured the buyer. Michael Helpern and Christopher Marks in Marcus & Millichap Capital Corporation’s (MMCC) Manhattan office arranged acquisition financing for the buyer through a regional bank.

August 20, 2020

Leasing Activity New Jersey Northeast Retail

Harmony Dispensary to Open Hoboken’s First Medical Marijuana Facility

by Taylor Williams August 20, 2020

HOBOKEN, N.J. — New Jersey-based medical marijuana provider Harmony Dispensary will open the first such facility in Hoboken, located across the Hudson River from Manhattan. The dispensary will be located within a 5,000-square-foot building at 95 Hudson St. that previously housed a primary care provider. Jersey City-based Dresdner Robin, the land-use consultant for the project, has completed the revised rezoning requirements for the site. The satellite space is expected to come on line by the end of the year.

August 20, 2020

Industrial Leasing Activity New Jersey Northeast

Flemington Pickleball Club Signs 11,200 SF Industrial Lease in New Jersey

by Taylor Williams August 20, 2020

FLEMINGTON, N.J. — Flemington Pickleball Club LLC has signed an 11,200-square-foot retail lease at 19 Royal Road in Central New Jersey. According to LoopNet Inc., the property was built on 2.3 acres in 2003 and features 21-foot clear heights. Marc Shein of NAI DiLeo-Bram represented the tenant in the lease negotiations. Pickleball is a cross between tennis, ping-pong and badminton.

August 20, 2020

Acquisitions Multifamily Texas

IPA Negotiates Sale of 424-Unit Jefferson Boardwalk Apartments in Metro Dallas

by Taylor Williams August 20, 2020

FARMERS BRANCH, TEXAS — Institutional Property Advisors, a division of Marcus & Millichap, has negotiated the sale of Jefferson Boardwalk, a 424-unit apartment community located in the northern Dallas metro of Farmers Branch. The property was built on 15.1 acres in 2018 and features one-, two- and three-bedroom floor plans and Class A amenities. Drew Kile, Will Balthrope, Joey Tumminello and Grant Raymond of IPA represented the seller, locally based developer JPI, in the transaction. The team also procured the buyer, an affiliate of Lone Star Funds.

August 20, 2020

Development Multifamily Texas

Presidium Breaks Ground on 290-Unit Apartment Community in Metro Dallas

by Taylor Williams August 20, 2020

GRAND PRAIRIE, TEXAS — Texas-based developer Presidium Group has broken ground on Presidium Hill Street, a 290-unit apartment community in Grand Prairie, roughly midway between Dallas and Fort Worth. Designed by Dallas-based O’Brien Architects, the four-story property will feature amenities such as a pool, business center with conference rooms, fitness center, rooftop terrace, a pet grooming area and bike storage space. Completion is slated for mid-2022. Veritex Community Bank provided construction financing.

August 20, 2020

Civic Development Texas

Cadence McShane Underway on Renovation of Austin High School

by Taylor Williams August 20, 2020

AUSTIN, TEXAS — General contractor Cadence McShane is underway on a project to renovate Austin High School, the state capital’s oldest high school that is located at 1715 W. Cesar Chavez St. The renovation project will add 22,000 square feet of facilities to support the dance and athletic programs, as well as modernized gyms and a new glass stair tower on the south side of the main building. O’Connell Robertson designed the project. The school will be conducting virtual learning classes beginning Sept. 8.

August 20, 2020

Acquisitions Multifamily Texas

Marcus & Millichap Arranges Sale of 179-Unit Colony Apartments in Irving

by Taylor Williams August 20, 2020

IRVING, TEXAS — Marcus & Millichap has arranged the sale of The Colony, a 179-unit apartment community in Irving. Built in phases in the 1960s, the property offers proximity to multiple schools, as well as the 12,000-acre Las Colinas business and entertainment district. The Colony’s amenities include three pools, a dog park and onsite laundry facilities. Al Silva and Ford Braly of Marcus & Millichap represented the seller, Florida-based Capital Vision Management, and procured the buyer, a Dallas-based private investment group.

August 20, 2020

Leasing Activity Office Texas

Hoover Ferguson Signs 16,603 SF Office Headquarters Lease in Metro Houston

by Taylor Williams August 20, 2020

KATY, TEXAS — Hoover Ferguson, a provider of bulk containers and chemical tanks, has signed a 16,603-square-foot office lease at Katy Ranch Office for its new corporate headquarters. Approximately 60 employees will relocate from the current headquarters building at 2135 Highway 6 S. in Houston beginning in December. Sam Hansen and Doug Pack of Avison Young represented the landlord, Freeway Properties, in the lease negotiations.

August 20, 2020

Development Florida Multifamily Southeast Student Housing Top Stories

Moss Construction Completes $134M University of Miami Lakeside Village Student Housing Property

by Alex Tostado August 20, 2020

CORAL GABLES, FLA. — Moss Construction has delivered University of Miami Lakeside Village, a $134 million, 1,115-bed student housing community on the University of Miami campus. The 569,441-square-foot, seven-story project features 25 interconnected buildings and several outdoor spaces. The property offers classrooms, music rooms, study areas, recreation rooms, a 200-seat auditorium and offices. The buildings also have food options, a package center and an exhibition hall. The university opened for in-person classes Monday, Aug. 17, a week earlier than planned due to the coronavirus pandemic. The fall semester will conclude Friday, Nov. 20, the week before Thanksgiving. To support sustainability initiatives, the property includes green roofs that absorb carbon dioxide to help clean the air and regulate the climate. Also, existing plant life was evaluated and, when possible, integrated into the landscape or relocated elsewhere on campus. Miami-based Arquitectonica designed the community. — Alex Tostado

August 20, 2020

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