Property Type

Crow Holdings Completes Sale of 241,591 SF Industrial Facility Near San Francisco

by Amy Works September 29, 2020

LIVERMORE, CALIF. — Crow Holdings Industrial, the industrial development arm of Crow Holdings, has completed the sale of Bay Area Commerce Center I – Hawthorne, located at 7600 Hawthorne Ave. in Livermore. Black Creek Group, a Denver-based real estate investment management firm, acquired the asset for an undisclosed price. The newly constructed property features 241,591 square feet of warehouse space, 32-foot clear heights and parking for 190 cars and 18 trailers. At the time of sale, the facility was 70 percent leased to a mattress retailer. Situated within the Tri-Valley submarket, Bay Area Commerce Center I – Hawthorne provides easy access to Interstate 580 and the greater Bay Area, including the Port of Oakland and Oakland International Airport.

September 29, 2020

Development Multifamily North Carolina Southeast

HHHunt Breaks Ground on $55M Multifamily Community in Metro Charlotte

by Alex Tostado September 29, 2020

HUNTERSVILLE, N.C. — HHHunt Corp. has broken ground on Abberly Liberty Crossing, a 320-unit multifamily community in Huntersville. The developer expects development costs to total more than $55 million. The property will offer one- through three-bedroom floor plans ranging from 792 to 1,499 square feet. Unit interiors will include Shaker-style cabinets, granite countertops, stainless steel appliances and wood-style flooring. Communal amenities will include a fitness center, pool, sundeck, dog park, car charging stations and a car care center. The complex will be situated near the intersection of Independence Hill and Keith Hill roads, 12 miles north of downtown Charlotte. HHHunt expects to deliver the community by fall 2021. HHHunt also developed Abberly Woods in Charlotte and Abberly Green in nearby Mooresville.

September 29, 2020

Loans Multifamily Seniors Housing Washington Western

Greystone Provides $13.9M HUD Refinancing for Savoy at Lake Center Seniors Housing in Seattle

by Amy Works September 29, 2020

SEATTLE — Greystone has provided a $13.9 million HUD loan to refinance The Savoy at Lake City Senior Living, an 80-unit seniors housing property in Seattle. Shana Daby and Lorie Hanson of Greystone originated the transaction on behalf of the borrower, Lake City Project Associates. The non-recourse loan features a fixed interest rate and a 40-year term and amortization. As a green-certified and energy-efficient HUD housing project, The Savoy at Lake City also qualifies for a reduction in mortgage insurance premium (MIP) of 40 basis points, from 65 to 25 basis points, annually. Constructed in 2017, The Savoy at Lake City is a four-story building on Seattle’s north side that consists of 80 one- and two-bedroom units.

September 29, 2020

Development Florida Retail Southeast

Whole Foods Market to Open New 40,000 SF Store in Jacksonville Beach Next Week

by Alex Tostado September 29, 2020

JACKSONVILLE BEACH, FLA. — Whole Foods Market will open a 40,000-square-foot store in Jacksonville Beach on Oct. 7. The new grocery store will anchor Pablo Plaza, a 156,755-square-foot shopping center located at 1822 S. Third St., 22 miles east of downtown Jacksonville. Pablo Plaza’s other tenants include Marshalls, HomeGoods, PetSmart and Office Depot. Jax Daily Record reports that J. Raymond Construction Corp. is the general contractor, CPH Engineering is the civil engineer and ELM | Ervin Lovett Miller is the architect. Jacksonville-based Regency Centers leases the property on behalf of the landlord and affiliate, New York-based Equity One Corp.

September 29, 2020

Acquisitions Florida Retail Southeast

CTO Realty Growth Acquires Shopping Center in Metro Miami for $21M

by Alex Tostado September 29, 2020

HIALEAH, FLA. — CTO Realty Growth has acquired Westland Gateway, a 108,000-square-foot shopping center in Hialeah, for $21 million. Aldi, dd’s Discount, Ross Dress for Less and Bed Bath & Beyond occupy the property. Westland Gateway is located at 1460 W. 49th St., 15 miles northwest of downtown Miami. Daytona Beach, Fla.-based CTO Realty purchased the asset through a 1031 exchange. The seller was not disclosed.

September 29, 2020

Acquisitions Multifamily Southeast Tennessee

Capstone Arranges $15M Sale of Apartment Complex in South Nashville

by Alex Tostado September 29, 2020

NASHVILLE, TENN. — Capstone Apartment Partners has arranged the $15 million sale of The Lofts at Rose Monte, a 229-unit apartment complex in south Nashville. The property offers two- and three-bedroom floor plans. Communal amenities include a pool, fitness center, clubhouse and laundry facilities. The property was delivered in 2017 and was 96 percent occupied at the time of the sale. The Lofts at Rose Monte is located at 3705 Lausanne Drive, 12 miles south of downtown Nashville near Brentwood and Franklin, Tenn. Austin Heithcock, Adam Klenk, Tyler Mayo and Jonathan Hawks of Capstone procured the buyer, Washington D.C.-based RSE Capital Partners. The seller was not disclosed.

September 29, 2020

Development Hospitality Massachusetts Northeast

Nauset Construction Completes 67-Room Hotel Redevelopment Project in Cambridge

by Taylor Williams September 29, 2020

CAMBRIDGE, MASS. — Nauset Construction has completed the redevelopment of the historic Whitney, Lucretia and Henry Building in Cambridge into a 67-room boutique luxury hotel. The property was built in 1870 and is located in the Central Square area. The developer was a partnership between Sean Casey LLC and Hay Creek Hotels. Gensler designed the project, which houses multiple food and beverage concepts and a rooftop terrace.

September 29, 2020

Acquisitions Massachusetts Multifamily Northeast

Marcus & Millichap Arranges $5.1M Sale of Two Apartment Buildings in Metro Boston

by Taylor Williams September 29, 2020

WALTHAM, MASS. — Marcus & Millichap has arranged the $5.1 million sale of two apartment buildings totaling 21 units in the western Boston suburb of Waltham. The first property is located at 30A Amory Road, totals 11 units and sold for $2.3 million. The second building is located at 266-274 River St., features 10 units and fetched a sales price of $2.8 million. Evan Griffith, Tony Pepdjonovic and Jeremy Buckley of Marcus & Millichap represented the sellers and procured the buyers in both transactions.

September 29, 2020

Leasing Activity New York Northeast Office

Adams & Co. Negotiates 26,170 SF Office Lease at 390 Fifth Avenue in Manhattan

by Taylor Williams September 29, 2020

NEW YORK CITY — Full-service real estate firm Adams & Co. has negotiated a 26,170-square-foot office lease at 390 Fifth Avenue in Manhattan. The tenant, home textile supplier Keeco, will relocate from its existing space at 295 Park Avenue during the first quarter of 2021. Jeff Buslik and Jay Dispralto of Adams & Co. represented the landlord, Hilson Management Corp., in the lease negotiations. Evan Margolin and Scott Ansel of Savills represented the tenant. The asking rent is approximately $50 per square foot.

September 29, 2020

Development Industrial New Jersey Northeast

Evergreen Theragnostics to Open New Manufacturing Facility in Springfield, New Jersey

by Taylor Williams September 29, 2020

SPRINGFIELD, N.J. — Radiopharmaceutical firm Evergreen Theragnostics will open a new, 14,000-square-foot manufacturing facility in Springfield, about 20 miles west of New York City. The new facility will feature four fully equipped production suites, three additional customizable suites, research space and multiple sterility lines, as well as quality control, material storage and packaging space. Construction of the facility is underway, and completion is scheduled for 2021.

September 29, 2020

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