Property Type

Alcove at Arapahoe Shopping Center Boulder Colorado

JLL Arranges $26.7M Refinancing for Alcove on Arapahoe Shopping Center in Boulder, Colorado

by Amy Works May 12, 2020

BOULDER, COLO. — JLL Capital Markets has secured $26.7 million in refinancing for Alcove on Arapahoe, a community shopping center in Boulder. The firm placed the 10-year, fixed-rate loan with Nationwide for the borrower, an existing co-investment partnership that Regency Centers manages. Built in 1957 and renovated in 2019, Alcove on Arapahoe offers 159,050 square feet of retail space. Tenants include Safeway, HomeGoods, Verizon Wireless and Flower Child. Tarik Bateh, Kristian Lichtenfels and Jennifer Swanson of JLL Capital Markets arranged the financing for the borrower.

May 12, 2020

Industrial building 2840 E. Mohawk Lane Phoenix Arizona

Acquisitions Arizona Industrial Western

DAUM Commercial Negotiates Three Industrial Acquisitions in Metro Phoenix

by Amy Works May 12, 2020

PHOENIX AND TEMPE, ARIZ. — DAUM Commercial has arranged the acquisition of three industrial properties totaling nearly 60,000 square feet in Phoenix and Tempe. In the first deal, Crockett’s Honey, a family-owned raw honey manufacturer, acquired an 18,000-square-foot industrial building in Tempe. The asset is situated on 1.2 acres at 1060 W. Alameda Drive. Crockett’s Honey, which operates 6,500 beehives along the Colorado River in Parker, Ariz., plans to expand its bottling and distribution capabilities at the Tempe location. In the second transaction, a California-based private investor purchased a three-building business park in Phoenix for $2 million. Located at 3615-3635 S. 16th St., the 25,870-square-foot asset features five grade-level doors, a fenced lot and convenient access to multiple modes of transportation, including the Phoenix Sky Harbor International Airport and Union Pacific railroad. Carl Johnson, also of DAUM’s Phoenix office, represented the undisclosed seller in the deal. In the third transaction, a private investor acquired a manufacturing building located at 2840 E. Mohawk Lane in Phoenix for $2.2 million. The name of the seller was not released. The buyer plans to implement value-add exterior upgrades to the 16,056-square-foot property, which was recently vacated, including new paint, roof and asphalt. The building features …

May 12, 2020

Acquisitions California Retail Western

SBH Real Estate Acquires Former Wells Fargo Branch Near Los Angeles for $4M

by Amy Works May 12, 2020

ALHAMBRA, CALIF. — SBH Real Estate Group has purchased a retail property located at 1300 E. Valley Blvd. in Alhambra. Wells Fargo sold the former bank branch for $4 million. Situated on a 58,000-square-foot land parcel, the 3,800-square-foot building was vacant at the time of sale. Geoff Martin of CBRE represented the buyer and seller in the deal.

May 12, 2020

Restaurant building at 1020 Garnet Ave San Diego California

Acquisitions California Restaurant Retail Western

Retail Insite Brokers $2M Sale of Five Guys-Occupied Restaurant in San Diego’s Pacific Beach

by Amy Works May 12, 2020

SAN DIEGO — Retail Insite has directed the sale of a freestanding building located at 1020 Garnet Ave. in San Diego’s Pacific Beach neighborhood. Tanye Blane sold the asset to an undisclosed buyer for $2 million. The buyer plans to reposition the 4,500-square-foot property, which Five Guys Burgers and Fries currently occupies. Brian Pyke and Allison Campbell of Retail Insite represented the seller and buyer in the transaction.

May 12, 2020

Development Industrial Texas Top Stories

National Property Holdings Underway on 87-Acre Industrial Project in Metro Houston

by John Nelson May 12, 2020

KATY, TEXAS — National Property Holdings (NPH), a Houston-based industrial developer and owner, is underway with Katy Prairie Business Park, an 87-acre industrial project located in the western Houston suburb of Katy. At full buildout, the project will span approximately 1.1 million square feet across three tilt-wall buildings. The development’s first facility has been underway for a few months. Dallas-based design-build firm ARCO Design/Build Inc. broke ground last December on a 59,000-square-foot warehouse and distribution center within the park for Domino’s Pizza, progress of which can be seen here. The facility is expected to be complete in the fourth quarter and support more than 300 Domino’s Pizza restaurants across South Texas. “We are delighted Domino’s selected National Property Holdings to develop its new supply chain center and fresh pizza dough production line in our first building at Katy Prairie Business Park,” says Ryan Lovell, vice president of real estate for NPH. In addition to building the Domino’s facility, NPH is now expanding the park’s infrastructure to make way for the other two buildings. This work includes excavating detention ponds totaling approximately 20 acres, extending the public water line by half a mile, implementing a wastewater collection system and lift station …

May 12, 2020

Development Massachusetts Multifamily Northeast

RD Management to Develop 230-Unit Multifamily Project in Metro Boston

by Alex Patton May 11, 2020

BILLERICA, MASS. — RD Management LLC, a New York-based developer, will develop a 230-unit luxury multifamily project in Billerica, a northwestern suburb of Boston. The project will be constructed as an addition to RD Management’s 306,876-square-foot Shops at Billerica retail center. At the time of the multifamily project announcement, major tenants of the retail center included a 69,560-square-foot Burlington store, as well as grocer Market Basket, Big Lots and Planet Fitness. According to the development team, the project is on track to break ground by the end of year despite construction restrictions amid the COVID-19 health crisis.

May 11, 2020

Industrial Massachusetts Northeast

Plymouth Industrial REIT Executes 426,000 SF in New Leases During First Quarter

by Alex Patton May 11, 2020

BOSTON — Plymouth Industrial REIT Inc. (NYSE: PLYM), a Boston-based investment firm focused on the acquisition and management of industrial properties, executed more than 426,000 square feet of new leases during the first three months of 2020, according to the company’s latest quarterly report. Commercial leasing has declined amid the COVID-19 health crisis, but industrial owners have benefited from demand for distribution and warehousing space, especially from e-commerce users. At the end of the quarter, Plymouth owned 125 industrial buildings totaling approximately 20 million square feet, including 11 properties totaling 2.1 million square feet that were purchased in the first quarter. Plymouth reported 96.3 percent occupancy across its portfolio, which is primarily located in the Midwest and Southeast regions, as well as in New Jersey and Maine. Plymouth’s stock price closed at $13.98 per share on May 8, down from $15.55 per share a year ago.

May 11, 2020

Acquisitions New Jersey Northeast Retail

LNR Partners Sells 50,000 SF Retail Center in Woodland Park, New Jersey

by Alex Patton May 11, 2020

WOODLAND PARK, N.J. — Florida-based developer LNR Partners LLC has sold Lenox Plaza, a 50,000-square-foot retail center in Woodland Park, a northwestern suburb of New York City, to an undisclosed buyer. At the time of sale, the property was 96 percent leased to tenants including Pizza Hut, Party City and Blimpie. The four-building complex was originally built in 1986, and the parking lot was recently renovated in 2018. LNR acquired the property from Azarian Group in 2007 for $20 million. Jacklene Chesler of Colliers International represented LNR Partners in the transaction. The sales price was undisclosed.

May 11, 2020

Acquisitions New Jersey Northeast Office Retail

Kislak Co. Arranges $11.6M Sale of Office, Retail Property in South Orange, New Jersey

by Alex Patton May 11, 2020

SOUTH ORARGE, N.J. — Kislak Co. Inc. has arranged the $11.6 million sale of South Orange Square, a 31,000-square-foot office and retail property located on the western outskirts of New York City. Located at 67-81 S. Orange Ave. and 3-11 Scotland Road, the property includes 21,000 square feet of ground-floor retail space, 9,000 square feet of second-story office space and 1,000 square feet of storage rooms. At the time of sale, the property was 98 percent leased to tenants including Verizon, Investors Bank and the South Orange Pharmacy. Meridian Capital Group arranged acquisition financing through Spencer Savings Bank on behalf of the undisclosed buyer. Joni Sweetwood of Kislak represented the seller, which was also undisclosed.

May 11, 2020

Acquisitions New Jersey Northeast Retail

Marcus & Millichap Brokers $5.8M Sale of Retail Building in Madison, New Jersey

by Alex Patton May 11, 2020

MADISON, N.J. — Marcus & Millichap has brokered the $5.8 million sale of a retail building in Madison, a western suburb of New York City. Located at 307 Main St., the 10,011-square-foot building was leased to Starbucks and a dry cleaner at the time of sale. Alan Cafiero, Ben Sgambati, David Cafiero and John Moroz of Marcus & Millichap represented the seller and procured the buyer, both of which were undisclosed limited liability companies.

May 11, 2020

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