Property Type

JLL Arranges Sale, Financing of 354-Unit Alexan Enclave Apartments in Houston’s Energy Corridor

by Taylor Williams November 1, 2019

HOUSTON — JLL has arranged the sale and financing of Alexan Enclave, a 354-unit apartment community located in the Energy Corridor area of Houston. Built in 2014, the mid-rise property consists of two four-story buildings and a six-story parking garage. Units average 909 square feet and feature open-concept floor plans and high-end finishes, including high ceilings, stainless steel appliances, granite countertops and hardwood cabinetry. Amenities include a pool, covered outdoor kitchen, dog park, pet wash station, a resident clubhouse and a business center. Todd Marix, Chris Curry and Bailey Crowell of JLL represented the sellers, Trammell Crow Residential and Cigna Investment Management. Cameron Cureton and Matt Kafka of JLL arranged acquisition financing for the transaction on behalf of the buyer, F&B Capital.

November 1, 2019

Loans Multifamily Northeast Pennsylvania

JLL Arranges $23M Construction Loan for Multifamily Development in Wind Gap, Pennsylvania

by Alex Patton November 1, 2019

WIND GAP, PA. — JLL has arranged a $23 million construction loan for the development of Dream Lehigh Valley, a 200-unit apartment complex in the Lehigh Valley community of Wind Gap, located approximately 70 miles north of Philadelphia. A regional bank provided the floating-rate construction loan to the project’s developer, DLP Capital Partners. Dream Lehigh Valley will include nine residential buildings comprising one-, two- and three-bedroom apartments, as well as a two-story clubhouse with a lounge, game room, fitness center and pool. Construction is slated for completion in 2021. Michael Pagniucci and Jason Bond of JLL arranged the loan for DLP Capital Partners.

November 1, 2019

Industrial Leasing Activity New Jersey Northeast

Superior Cold Storage Renews 30,000 SF Industrial Lease in Elizabeth, New Jersey

by Alex Patton November 1, 2019

ELIZABETH, N.J. — Refrigerated warehouse user Superior Cold Storage & Logistics LLC has renewed its 30,000-square-foot industrial lease in Elizabeth, a western suburb of New York City. The property, located at 1161 E Broad St., offers 20-foot clear heights, three dock-high doors and three drive-in doors. Ed English, Ron Ganter, Tom Giannone and Paul Errigo of Avison Young represented Superior Cold Storage in the lease negotiations. Jason Crimmons of The Blau & Berg Co. represented the landlord, Linden Realty.

November 1, 2019

Leasing Activity New Jersey Northeast Retail

LMC Negotiates Two Retail Leases Totaling 10,000 SF in Jersey City

by Alex Patton November 1, 2019

JERSEY CITY, N.J. — Levin Management Corp. (LMC) has negotiated two new retail leases totaling 10,000 square feet at Twin City Shopping Center, 95,000-square-foot shopping center in the western New York City suburb of Jersey City. Hook & Reel Cajun Seafood and Bar leased 8,350 square feet, and Apple Nail salon leased 1,650 square feet. The property’s dining options also include Taco Bell, Popeye’s Louisiana Kitchen, Wendy’s and Dunkin’. E.J. Moawad of LMC represented the landlord in both lease negotiations. Igal Nassim of Mason Asset Management represented Hook & Reel.

November 1, 2019

Illinois Industrial Leasing Activity Midwest

Target Corp. Leases 1.2 MSF Industrial Center in Joliet, Illinois

by Kristin Harlow November 1, 2019

JOLIET, ILL. — Target Corp. has leased the entire 1.2 million-square-foot Rock Creek Logistics Center in Joliet, a southwestern suburb of Chicago. The Minneapolis-based retailer expects to fully occupy the building this month. Located at 3300 Channahon Road, the facility features a clear height of 36 feet, 350 trailer positions, four drive-in doors, 92 exterior dock doors and more than 400 car parking stalls. The building is less than one mile from I-80 and will provide easy access to the interstate via the Houbolt Road interchange. Traci Payette and Paige Rickert of CBRE represented Target in the lease transaction. Steve Connolly and Eric Tresslar of NAI Hiffman represented the landlord, The Opus Group. Opus served as the developer, design-builder, architect and structural engineer of record. The project was a joint venture partnership with AEW Capital Management LP.

November 1, 2019

Acquisitions Midwest Missouri Multifamily

Berkadia Brokers Sale of 408-Unit Multifamily Community in Kansas City

by Kristin Harlow November 1, 2019

KANSAS CITY, MO. — Berkadia has brokered the sale of The Kings, a 408-unit garden-style property in Kansas City. The sales price was not disclosed. Built in 1973 and located at 11330 Colorado Ave., the multifamily community features studio, one-, two- and three-bedroom floor plans. Amenities include a clubhouse, barbecue area, laundry facilities and two swimming pools. Alex Blagojevich, Michael Sullivan and Brett Meinzer of Berkadia represented the seller, a joint venture between Sundance Bay and Drake Real Estate Partners. Florida-based Stoneweg US LLC was the buyer. Stoneweg has been active in the Kansas City market, acquiring more than 1,000 units in the last three months, according to Berkadia.

November 1, 2019

Acquisitions Healthcare Kansas Midwest Net Lease

Boulder Group Negotiates $8.1M Sale of Net-Leased Medical Office Property in Wichita, Kansas

by Kristin Harlow November 1, 2019

WICHITA, KAN. — The Boulder Group has negotiated the sale of a single-tenant property net leased to Integrated Healthcare Systems in Wichita for $8.1 million. The 30,472-square-foot building is located at 9211 E. 21st St. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a Midwest-based real estate development company. A real estate investment trust was the buyer. Integrated Healthcare Systems is a wholly owned subsidiary of Ascension Medical Group.

November 1, 2019

Loans Midwest Multifamily Nebraska

NorthMarq Secures $4M Refinancing for Apartment Complex in Omaha

by Kristin Harlow November 1, 2019

OMAHA, NEB. — NorthMarq has secured a $4 million loan for the refinancing of New Keystone Apartments in Omaha. The 72-unit property is located at 7311 Wirt St. Josh Larsen of NorthMarq arranged the 10-year Freddie Mac loan, which features a 30-year amortization schedule and a fixed rate. The borrower was not disclosed.

November 1, 2019

Acquisitions Indiana Midwest Retail

Mid-America Arranges Sale of Two-Tenant Retail Building in South Bend, Indiana

by Kristin Harlow November 1, 2019

SOUTH BEND, IND. — Mid-America Real Estate Corp. has arranged the sale of a 5,013-square-foot retail building in South Bend for an undisclosed price. ATI Physical Therapy and AT&T fully occupy the property, which is located along Portage Road. Carly Gallagher, Christian Tremblay and Rick Drogosz of Mid-America represented the seller, Veritas Realty. A West Coast-based investor purchased the property while completing a 1031 tax-deferred exchange.

November 1, 2019

Connecticut Industrial Leasing Activity Northeast

Arcade Specialties Signs 9,120 SF Industrial Sublease in Stratford, Connecticut

by Alex Patton November 1, 2019

STRATFORD, CONN. — Video game and prop rental company Arcade Specialties LLC has signed a 9,120-square-foot industrial sublease in Stratford, located approximately 15 miles southwest of New Haven. The company is moving its headquarters from 955 Connecticut Ave. in Bridgeport to 40 Mead St. in Stratford. Jon Angel of Angel Commercial LLC represented Arcade Specialties in the sublease negotiations. Hodson Realty represented the tenant. Arcade Specialties supplies retro arcade games, pinball machines, foosball tables and Chexx hockey tables for corporate and residential parties, prop rentals and photo shoots.

November 1, 2019

Newer Posts

Older Posts