Property Type

M Peters to Develop Mass Timber Office Building Within Plush Mills Campus in Downtown Greenville

by Alex Tostado May 22, 2020

GREENVILLE, S.C. — M Peters Group will develop a five-story, 73,177-square-foot office building in downtown Greenville. The property will offer 18,823 square feet of ground-level retail space, as well as a rooftop terrace. The developer is using mass timber construction, which marks the first project in South Carolina to do so. M Peters Group expects to deliver the property in 2021. The building will be situated next to the former Plush Mills building, which was originally built in 1925. M Peters Group bought the then-vacant property in 2016 and renovated it before leasing to Venture X, a coworking operator. The architect is Perkins + Will. Shelby Dodson of CBRE is handling leasing efforts on behalf of the owner.

May 22, 2020

Development Industrial North Carolina Southeast

Merritt Properties Acquires 51 Acres in Durham to Build Four-Building Industrial Park

by Alex Tostado May 22, 2020

DURHAM, N.C. — Merritt Properties has acquired 51 acres in Durham for Merritt TW Crossing, a planned four-building, 282,400-square-foot industrial park near Research Triangle Park. Merritt expects to deliver the asset in the fourth quarter of this year. The four buildings will range in size from 36,120 to 106,100 square feet. The land is situated at 3100 S. Miami Blvd., seven miles south of downtown Durham. The buildings will offer 18- to 24-foot ceiling heights, 110- to 180-foot truck courts, dock-high and drive-in doors and free surface parking. Merritt Construction Services is the general contractor. Ann-Stewart Patterson and Austin Nagy of CBRE | Raleigh will handle leasing efforts on behalf of the owner.

May 22, 2020

Development Georgia Multifamily Seniors Housing Southeast

Watercrest Senior Living Breaks Ground on Seniors Housing Community in Macon, Georgia

by Alex Tostado May 22, 2020

MACON, GA. — Watercrest Senior Living Group and its equity partners, Peninsula Alternative Real Estate and Corecam Capital Partners, have broken ground on Watercrest Macon Assisted Living and Memory Care in Macon. The community will feature 76 assisted living and 22 memory care units. Renasant Bank provided construction financing, and EMJ Corp. is serving as the general contractor. Watercrest Macon will be located within the Providence at Bass development, which offers residential, retail and dining establishments, as well as entertainment venues. Watercrest Macon is scheduled to welcome residents in summer 2021.

May 22, 2020

Development Industrial Maryland Southeast

Hill Management Begins Construction on 66,600 SF Industrial Building in Metro Baltimore

by Alex Tostado May 22, 2020

GLEN BURNIE, MD. — Hill Management has broken ground on a 66,600-square-foot industrial building within Bay Meadow Industrial Park in Glen Burnie. The property is situated on 6.5 acres and will offer 23-foot clear heights, an ESFR sprinkler system and dock and drive-in capabilities. The asset will be located at 6730 Dover Road, nine miles south of the Port of Baltimore and seven miles east of Baltimore/Washington International Thurgood Marshall Airport. The developer expects to deliver the building this fall. Kate Jordan and Marley Welsh of Lee & Associates | Maryland will handle the leasing on behalf of the owner.

May 22, 2020

Florida Industrial Leasing Activity Southeast

Commercial Fitness Concepts Signs 43,474 SF Industrial Lease in Tampa

by Alex Tostado May 22, 2020

TAMPA, FLA. — Commercial Fitness Concepts has signed a 43,474-square-foot industrial lease at Building 200 within 301 Business Center in Tampa. Building 200 offers 32-foot minimum clear heights, 180-foot truck court and an ESFR sprinkler system. With Commercial Fitness Concepts’ new lease, the building is now fully occupied, with US Venture leasing the other 127,720 square feet. Located on East Columbus Drive, 301 Business Center spans 68 acres and is situated in Tampa’s East Industrial submarket, nine miles east of downtown Tampa. John Jackson, Jessica Mizrahi and JT Faircloth of Cushman & Wakefield represented the landlord, McDonald Development, in the lease negotiations. Commercial Fitness Concepts sells new and used gym equipment for commercial use.

May 22, 2020

Development Massachusetts Multifamily Northeast

NRP Group, World Premier Investments Begin Construction of 184-Unit Apartment Project Near Boston

by Alex Patton May 22, 2020

WAKEFIELD, MASS. — A partnership between NRP Group and World Premier Investments has begun construction of Grayson Lofts at Wakefield Station, a 184-unit apartment community in Wakefield, a northern suburb of Boston. Located at 178 Albion St., the project is a redevelopment of a three-story mill building that was previously used as office space. The west side of the U-shaped building will retain its office space while the east side will be redeveloped for a residential project featuring one- and two-bedroom floor plans. The development team will also construct an additional three stories on top of the existing building that will also feature residential space. Canadian Imperial Bank of Commerce provided construction financing for the project. Construction is slated to be complete in 2021.

May 22, 2020

Loans Multifamily Northeast Pennsylvania

Greystone Provides $45.8M Fannie Mae Acquisition Loan for Multifamily Property in Ambler, Pennsylvania

by Alex Patton May 22, 2020

AMBLER, PA. — Greystone has provided a $45.8 million Fannie Mae loan for the acquisition of The Woods Apartments, a 321-unit multifamily property in the northern Philadelphia suburb of Ambler.The borrower was Woods Realty Associates. Located at 1410 E. Butler Pike, the garden-style property was originally constructed in 1974 and features one-, two- and four-bedroom floor plans. Dan Sacks of Greystone arranged the loan, which carries a 12-year term with a 30-year amortization schedule.

May 22, 2020

Acquisitions Industrial New Jersey Northeast

Venture One Acquires 31,222 SF Industrial Building in Little Ferry, New Jersey

by Alex Patton May 22, 2020

LITTLE FERRY, N.J. — Venture One Real Estate has acquired a 31,222-square-foot industrial building in Little Ferry, a northwestern suburb of New York City. Located at 3 Alsan Way, the single-tenant building was constructed in 1970 and features four exterior docks and parking for 35 vehicles. Venture One will implement a capital improvement plan that will feature office renovations, fresh paint jobs and the installation of LED lights. Jeff Chaus and Brian Scheuer of Chaus Realty LLC represented Venture One in the transaction. Justin Kang of Good Neighbor Realty represented the undisclosed seller.

May 22, 2020

Acquisitions Connecticut Multifamily Northeast

NPCG Brokers $17M Sale of Multifamily Community in Norwalk, Connecticut

by Alex Patton May 22, 2020

NORWALK, CONN. — Northeast Private Client Group (NPCG) has brokered the $17 million sale of Point Rock Apartments, a 54-unit luxury multifamily property in Norwalk, an eastern suburb of Stamford. Located at 34 Oakwood Ave., the property offers one- and two-bedroom floor plans and amenities including a fitness center and resident clubhouse. The four-story building was constructed in 2015. Brad Balletto, Rich Edwards and Jeff Wright represented the seller, a Connecticut-based developer, in the transaction. The team also procured the buyer, a New York-based investor. Both parties requested anonymity.

May 22, 2020

Acquisitions New York Northeast Retail

Schuckman Realty Arranges Sale of 14,000 SF Retail Building in Rockville Centre, New York

by Alex Patton May 22, 2020

ROCKVILLE CENTRE, N.Y. — Schuckman Realty Inc. has arranged the $2.3 million sale of a 14,000-square-foot retail building in Rockville Centre, a city on Long Island. Located at 120 North Village Ave., the single-tenant property was constructed in 1957 and was leased to Chase Bank at the time of sale. Kenneth Schuckman and Edward Gottlieb of Schuckman Realty represented the buyer, ABEN Village LLC, in the transaction. Michael Ventre and Robert Reinhardt of Windsor Commercial Real Estate represented the undisclosed seller.

May 22, 2020

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