Property Type

CBRE Negotiates $2.6M Sale of Inland Empire Multifamily Community in California

by Amy Works August 7, 2020

FONTANA, CALIF. — CBRE has arranged the sale of Juniper Apartments, a multifamily property located in Fontana. A local private investor sold the complex to another private buyer for $2.6 million. Located at 8945 Juniper Ave., the community offers 18 two-bedroom/two-bath units that average 856 square feet. Additionally, the property features gated access, 25 covered parking spaces, 16 storage units and 15 surface parking spaces. Located south of the historic Route 66, the property is within walking distance to Chaffey College-Fontana campus, Fontana Metrolink Station and downtown Fontana. Cray Carlson of CBRE represented the seller and buyer in the deal.

August 7, 2020

Leasing Activity Massachusetts New Jersey Northeast Retail

Dick’s Sporting Goods to Open Three Stores in Massachusetts, New Jersey This Month

by Taylor Williams August 7, 2020

PITTSBURGH — Dick’s Sporting Goods will open three new stores in the Northeast region this month. The Pittsburgh-based retailer will debut two new stores in Massachusetts, a 45,000-square-foot location at Cape Cod Mall in Hyannis and a 48,000-square-foot location at Westgate Mall in the Boston suburb of Brockton. Simon Property Group and New England Development are the respective owners of those malls. A third, 65,000-square-foot store will open at Macerich’s Deptford Mall, located just outside Philadelphia in New Jersey.

August 7, 2020

Acquisitions Multifamily New Jersey Northeast

Kislak Negotiates $19.2M Sale of Multifamily Portfolio in Bergen County, New Jersey

by Taylor Williams August 7, 2020

RIDGEFIELD PARK, CLIFFSIDE PARK AND LEONIA, N.J. — Kislak Co. has negotiated the $19.2 million sale of an 85-unit multifamily portfolio in Bergen County, located just west of New York City. The portfolio includes The Madison, a 36-unit property in Ridgefield Park; The Manor, a 34-unit complex in Cliffside Park; and a 15-unit building in Leonia. Novel Property Ventures sold the portfolio, which was fully occupied at the time of sale, to Titanium Capital Partners. Robert Squires and Don Baxter of Kislak brokered the deal.

August 7, 2020

Acquisitions Industrial New York Northeast Self-Storage

Marcus & Millichap Brokers Sale of 348-Unit Self-Storage Facility in Rochester

by Taylor Williams August 7, 2020

ROCHESTER, N.Y. — Marcus & Millichap has arranged the sale of Central Storage, a 348-unit self-storage facility located in the Upstate New York city of Rochester. The property is situated on 1.5 acres and offers 51,209 net rentable square feet of non-climate-controlled space. Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller and procured the buyer, both of which were limited liability companies that requested anonymity, in the transaction. John Krueger of Marcus & Millichap assisted in closing the deal as the broker of record.

August 7, 2020

Loans Massachusetts Multifamily Northeast

NorthMarq Arranges $5.5M Agency Loan for Refinancing of Multifamily Asset in Lowell, Massachusetts

by Taylor Williams August 7, 2020

LOWELL, MASS. — NorthMarq has arranged a $5.5 million Freddie Mac loan for the refinancing of Mill Falls Apartments, a 72-unit multifamily asset in Lowell, located north of Boston near the Massachusetts-New Hampshire border. The property features one- and two-bedroom units. Robert Ranieri of NorthMarq arranged the 10-year loan, which carried a fixed interest rate and a 30-year amortization schedule, on behalf of the undisclosed borrower.

August 7, 2020

Development Multifamily Northeast Pennsylvania Seniors Housing

Kendal Completes 60-Unit Seniors Housing Expansion Project in West Chester, Pennsylvania

by Taylor Williams August 7, 2020

WEST CHESTER, PA. — Pennsylvania-based Kendal Corp. has completed construction of Preston, an expansion of its Barclay Friends seniors housing community in West Chester, approximately 25 miles west of Philadelphia. Preston features 60 new apartments, including 20 for memory care services, across 61,000 square feet. The building was named after Dr. Ann Preston, a 19th century Quaker activist who was one of the first women in America to become a medical doctor.

August 7, 2020

Acquisitions Industrial Texas

Lonejack II Purchases 460,000 SF Distribution Center Formerly Occupied by Pier 1 Imports Near Fort Worth

by Taylor Williams August 7, 2020

MANSFIELD, TEXAS — Locally based investment firm Lonejack II LLC has purchased Heritage Park, a 460,000-square-foot distribution center in the Fort Worth suburb of Mansfield that was previously occupied by Pier 1 Imports. The property is located near U.S. Highway 287, is adjacent to the Union Pacific Railroad and features 10,200 square feet of office space. Pier 1 Imports, which was founded in Fort Worth in 1962, announced in May that it would be closing all its retail stores and liquidating other assets. LanCarte Commercial is marketing the property for lease.

August 7, 2020

Development Multifamily Texas

Gardner Capital Completes 96-Unit Provision at North Valentine Apartments Near Fort Worth

by Taylor Williams August 7, 2020

HURST, TEXAS — Gardner Capital, a family-owned private equity firm focused on the multifamily sector, has completed Provision at North Valentine, a 96-unit apartment community located in the northeastern Fort Worth suburb of Hurst. The property features one- and two-bedroom floor plans with granite countertops, breakfast bars and individual washers and dryers. Amenities include a pool, fitness center, onsite laundry facilities, outdoor grilling areas and a playground. Rents for one-bedroom units range from $361 to $789 per month, while rents for two-bedroom units range from $429 to $942 per month.

August 7, 2020

Acquisitions Industrial NAI Texas

NAI Partners Sells 66,530 SF Industrial Property in Houston

by Taylor Williams August 7, 2020

HOUSTON — NAI Partners has sold Leghorn Service Center, a 66,530-square-foot industrial property in Houston. NAI Partners acquired the three-building complex in 2019 through one of its investment funds. Charlie Strauss, Trent Agnew and Katherine Miller of JLL served as the listing brokers in the transaction and procured the buyer, a locally based private investment firm. Leghorn Service Center was fully leased at the time of sale.

August 7, 2020

Development Healthcare Texas

MedCore Partners Breaks Ground on 25,200 SF Bedford Medical Plaza Near Fort Worth

by Taylor Williams August 7, 2020

BEDFORD, TEXAS — Healthcare developer MedCore Partners has broken ground on the 25,200-square-foot Bedford Medical Plaza, located at the northwest corner of Hospital Parkway and Parkview Lane near Fort Worth. The building will be situated on 3.1 acres near Texas Health Harris Methodist Hurst-Euless-Bedford Hospital and is 100 percent preleased to multiple local practices. An expected completion date was not released.

August 7, 2020

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