LYNDHURST, N.J.— Sitex Group, a New Jersey-based developer, has acquired a 172,000-square-foot industrial warehouse in Lyndhurst, a northwestern suburb of New York City. Located at 1201 Valley Brook Ave., the warehouse features a 26-foot clear height, 11 loading docks, trailer parking and more than 165 parking spaces. Tom Monahan, Brian Fiumara, Larry Schiffenhaus and Steve D’Amato of CBRE brokered the transaction. The seller was a private investor. The sales price was undisclosed.
CORSICANA, TEXAS — Marcus & Millichap has brokered the sale of Kenwood Heights, a 211-unit apartment community in Corsicana, about 65 miles south of Houston. The property was primarily built in the 1980s and spans 51 buildings. Al Silva and Ford Braly of Marcus & Millichap represented the seller, Canada-based Republic Funds, in the transaction. The duo also procured the buyer, a Texas-based limited liability company that plans to implement a value-add program.
PARAMUS, N.J. — Holt Construction, the U.S. Army Corps of Engineers and the Federal Emergency Management Agency (FEMA) have constructed a 100-bed temporary hospital in Paramus, a northwestern suburb of New York City. The facility was built in a large parking lot adjacent to Bergen New Bridge Medical Center and is intended for acute, non-COVID-related patients due to the influx of COVID-positive patients to the main building. The temporary hospital consists of two tent structures, each equipped with 50 beds, an admissions bay, nurse stations and six bathrooms with showers, as well as storage and other auxiliary space. The construction team completed the facility in less than two weeks. As of May 4, the New Jersey Department of Health reported 128,269 positive cases of the virus and 7,910 deaths.
WALLINGTON, N.J. — Northmarq has arranged a $16.5 million loan for the refinancing of Wallington Plaza, a 94,297-square-foot shopping center in Wallington, a northwestern suburb of New York City. A local bank provided the permanent loan, which carries a floating interest rate, a seven-year term and a 30-year amortization schedule. A ShopRite grocery store anchors the property, which is located at 375 Paterson Ave. Other tenants include a pet supplies store and a liquor store. Robert Ranieri of NorthMarq arranged the loan.
SCHERTZ, TEXAS — CBRE has negotiated a 109,271-square-foot industrial lease at 6417 Tri-County Parkway in Schertz, a northeastern suburb of San Antonio. Josh Aguilar of CBRE represented the landlord, Prologis, in the lease negotiations. Omar Nasser of AQUILA Commercial represented the tenant, women’s apparel provider J.J.’s Mae Inc.
BENSALEM, PENN. — Roddy Inc., a brokerage firm serving Pennsylvania and New Jersey, has negotiated the $2.3 million sale of a 31,042-square-foot industrial building in Bensalem, a southwestern suburb of Trenton. The property is located at 774 American Drive within Wes-Port Industrial Park. The buyer, Dhyanvi LLC, sells a range of general merchandise including over-the-counter pharmaceuticals, health and beauty products, cosmetics, toiletries and household accessories. Robert Olender of Roddy Inc. represented the seller, 774 American Properties, in the transaction. Adam Lashner of NAI Mertz represented Dhyanvi.
DALLAS — Keller Williams Realty — North Dallas has signed a 24,971-square-foot office lease at 18333 Preston Road for its new headquarters in the metroplex. Renee Efimoff of SCM Real Estate Services represented Keller Williams in the lease negotiations. Trevor Franke and Andrew Scudder of JLL represented the landlord, Preston North Partners LLC. The move-in is scheduled for late July.
HOUSTON — Archway Properties has broken ground on a 22,016-square-foot build-to-suit retail project in Houston for Northern Tool + Equipment. The building will be situated on a freeway-fronting pad site within the 111-acre Park Air 59 mixed-use development on the city’s northeastern side. The store will be the Minnesota-based retailer’s eighth in Houston and is expected to open in the first quarter of 2021.
DULUTH, GA. — Cushman & Wakefield has arranged the $52 million sale of The Hills on Breckinridge, a 400-unit multifamily community in Duluth. The property was built in 1986 and offers one- and two-bedroom floor plans. The seller, Wilkinson Corp., has implemented recent renovations, including a new clubhouse, pool, sports court, dog park and playground, as well as interior upgrades. The property is situated at 3450 Breckinridge Blvd., 24 miles northeast of downtown Atlanta. Nathan Swenson and Travis Presnell of Cushman & Wakefield represented the seller in the transaction. The buyer was not disclosed.
COLONIAL HEIGHTS, VA. — Extended Stay America Inc. has opened Extended Stay America-Colonial Heights, a 92-room hotel in Colonial Heights. Each room features kitchens with full-size refrigerators, microwave ovens, cooktops, platform beds with storage space beneath, recliners and high-speed Wi-Fi. Amenities include a fitness center, laundry room and a lobby. Kara Hospitality is managing the property. The new building is located at 441 Charles H Dimmock Parkway, 23 miles south of downtown Richmond.
