Property Type

Aerospace User Bell Textron Unveils Plans for New 140,000 SF Manufacturing Facility in Fort Worth

by Taylor Williams August 11, 2020

FORT WORTH, TEXAS — Aerospace manufacturer Bell Textron Inc. (NYSE: TXT) has unveiled plans for its new 140,000-square-foot manufacturing technology facility in Fort Worth. According to the Dallas Business Journal, the property will be located at the northeast corner of Interstates 820 and 35, just a few miles from the company’s Fort Worth corporate headquarters. Bell Textron will use the facility to test and refine new technologies and systems for the Future Vertical Lift aircraft that will be used by the U.S. Army. Bell Textron, a division of Rhode Island-based conglomerate Textron Inc., has had a manufacturing presence in North Texas since 1951.

August 11, 2020

Development Office Texas

Triten Real Estate Completes Renovation of 90,000 SF Office Building in Metro Dallas

by Taylor Williams August 11, 2020

ADDISON, TEXAS — Triten Real Estate Partners has completed the renovation of a 90,000-square-foot office building located at the corner of the Dallas North Tollway and Belt Line Road in the northern Dallas suburb of Addison. The six-story building was previously known as Tollway Place and has been rebranded as The Commons. As part of the $4 million project, the development team upgraded the building’s common areas and office suites and signed restaurant Velvet Taco to lease a street-level retail space with outdoor seating. CBRE is handling leasing of the repositioned property.

August 11, 2020

Acquisitions Multifamily Texas

Marcus & Millichap Arranges Sale of 144-Site Mobile Home, RV Park in Kingsville, Texas

by Taylor Williams August 11, 2020

KINGSVILLE, TEXAS — Marcus & Millichap has arranged the sale of Oasis Mobile Home & RV Park, a 144-site property in Kingsville, located outside Corpus Christi in South Texas. The community consists of 69 mobile home lot rentals, 31 park-owned home rentals and 44 RV lot rentals. Robert Denninger and Brad Dorsey of Marcus & Millichap represented the seller, a private investor, and procured the buyer, a limited liability company. Both parties requested anonymity.

August 11, 2020

Industrial Leasing Activity Texas

Finial Group Negotiates 19,800 SF Industrial Lease in Houston

by Taylor Williams August 11, 2020

HOUSTON — Locally based brokerage firm Finial Group has negotiated a 19,800-square-foot lease at 1646 Rankin Road in Houston. The space is located within Central Green Business Park, a 331,000-square-foot development near George Bush International Airport. Doc Perrier and Jason Gibbons of Finial Group represented the tenant, Rubicon Ventures LLC, in the lease negotiations. Jeremy Lumbreras of Stream Realty Partners represented the landlord.

August 11, 2020

Development New York Northeast Office

Extell Development Unveils 441,600 SF Harlem Headquarters Office Building

by Taylor Williams August 11, 2020

NEW YORK CITY — Extell Development has unveiled its first commercial project in East Harlem, a 441,600-square-foot office building that is branded as Harlem Headquarters. The nine-story, Class A building is located at 180 E. 125th St., adjacent to several public transit stops. Gensler designed the property. Cushman & Wakefield is handling leasing, which will officially begin this fall.

August 11, 2020

Development Healthcare Massachusetts Northeast Office

Galaxy, WBDC Acquire Land for $50M Biomanufacturing Facility in Worcester, Massachusetts

by Taylor Williams August 11, 2020

WORCESTER, MASS. — Massachusetts-based Galaxy Life Sciences, in partnership with the Worcester Business Development Corp. (WBDC), has acquired land for the development of a $50 million biomanufacturing facility in the Central Massachusetts city of Worcester. The facility will be situated on six acres within The Reactory, a 46-acre life sciences campus that is a redevelopment of a site formerly occupied by Worcester State Hospital. Infrastructure work on the site is expected to begin this fall. Kelleher & Sadowsky represented the development team in its acquisition of the land.

August 11, 2020

Acquisitions Industrial New Jersey Northeast

Venture One Real Estate Buys 107,107 SF Industrial Building in Fairfield, New Jersey

by Taylor Williams August 11, 2020

FAIRFIELD, N.J. — Chicago-based development and investment firm Venture One Real Estate has purchased a 107,107-square-foot industrial building located at 116 Lehigh Drive in Fairfield, about 30 miles west of New York City. The single-tenant building was constructed on 8.1 acres in 1986 and features nine exterior docks, 187 automobile parking spaces and an ESFR sprinkler system. Noah Balnoff, Jacquelyn Severino and Chris Haenn of Colliers International represented the undisclosed seller in the transaction. Venture One will implement a value-add program at the property, which was vacant at the time of sale.

August 11, 2020

Leasing Activity New Jersey Northeast Retail

Burlington to Open Store at 306,000 SF Mill Creek at Harmon Meadow in Secaucus, New Jersey

by Taylor Williams August 11, 2020

SECAUCUS, N.J. — Burlington will open a store at Mill Creek at Harmon Meadow, a 306,000-square-foot retail power center in the New York City suburb of Secaucus. The center, which houses tenants such as Kohl’s, T.J. Maxx and Bob’s Discount Furniture, is part of the 200-acre Harmon Meadow mixed-use development. Burlington will occupy a space formerly leased to Sports Authority and has not yet established an opening date. Sidney Singer of Levin Management Corp. represented the landlord, New York Life Real Estate Investors, in the lease negotiations.

August 11, 2020

Acquisitions Industrial Leasing Activity Washington Western

EverWest Completes $29.5M Sale-Leaseback With Alliance Packaging for Industrial Facility Near Seattle

by Amy Works August 11, 2020

RENTON, WASH. — Denver-based EverWest Real Estate Partners has completed the $29.5 million acquisition and partial sale-leaseback of an industrial building located at 851 SW 34th St. in Renton, about 14 miles south of downtown Seattle. Alliance Packaging sold the property and executed a leaseback for a portion of the asset. Totaling 164,332 square feet, the property features 26-foot clear heights, dock-high and grade-level doors in a cross-dock configuration and 5,000 amps of heavy power. Alliance Packaging will continue to occupy 82,019 square feet of the property under a long-term lease agreement. The remaining 82,313 square feet, including 13,440 square feet of office space, is available for immediate lease. Ryan Madson provided in-house representation for EverWest, while Arie Salomon and Jeff Forsberg of NAI Puget Sound Properties represented Alliance Packaging in the transaction.

August 11, 2020

Acquisitions Arizona Development Hospitality Western

WaterWalk Acquires Development Site in Phoenix’s Deer Valley Area for Future Extended-Stay Hotel

by Amy Works August 11, 2020

PHOENIX — WaterWalk, a developer of upscale extended-stay hotels, has purchased 4.5 acres at the southwest corner of 19th Avenue and Pinnacle Peak Road in Phoenix’s Deer Valley neighborhood. Alter Group sold the development site for $2.1 million. Trask Switzenberg and Chuck Wells of Kidder Mathews represented the buyer in the deal. WaterWalk plans to develop an extended-stay hotel on the site, which includes a retail pad. Currently, WaterWalk has seven open hotels in Kansas, Colorado, Texas and North Carolina, with two additional locations opening this fall in North Carolina and Minnesota. The Phoenix property will be the brand’s first Arizona property. WaterWalk plans to have 50 locations open by year-end 2024. WaterWalk is the fifth national brand started by hotelier Jack DeBoer. Other brands include Residence Inn, Summerfield Suites, Candlewood Suites and Value Place/WoodSpring.

August 11, 2020

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