Property Type

Fiberglass Supplier Leases 280,000 SF of Industrial Space Near Columbia

by Alex Tostado November 21, 2019

BLYTHEWOOD, S.C. — Jushi USA, a California-based supplier of fiberglass reinforcements and fabrics, has leased 280,000 square feet of industrial space at 10700 Farrow Road in Blythewood, a suburb of Columbia. The property is part of the Carolinas Industrial Properties portfolio, which consists of 39 buildings spanning 5.5 million square feet and housing 55 tenants. Built in 1971, 10700 Farrow Road is located 15 miles north of downtown Columbia and 20 miles north of one of Jushi’s existing distribution centers. The Blythewood facility was the largest available industrial space for lease in the Columbia market and previously housed KitchenAid, Little Tikes, Remington, Pure Power Technologies and Samsung. Colliers International’s Chuck Salley, Dave Mathews, Thomas Beard and John Peebles represented the landlord, Reger Holdings LLC, in the lease negotiations.

November 21, 2019

Industrial Leasing Activity New Jersey Northeast

Romark Logistics Signs 249,853 SF Industrial Lease in Edison, New Jersey

by Alex Patton November 21, 2019

EDISON, N.J. — E-commerce distributor Romark Logistics has signed a 249,853-square-foot industrial lease in Edison, a southwestern suburb of New York. Located at 145 Talmadge Road, the property offers 28-foot ceiling heights as well as close access to the New Jersey Turnpike, Newark Liberty International Airport and the Port of Newark. Scott Belfer of CBRE represented Romark Logistics in the lease negotiations. Scott Belfer, Nicholas Nitti and Lou Belfer of CBRE represented the landlord, which was undisclosed.

November 21, 2019

Acquisitions Northeast Office Pennsylvania

Acts Acquires 80,000 SF Office Building in Pennsylvania for New Headquarters

by Alex Patton November 21, 2019

FORT WASHINGTON, PA. — Nonprofit senior living organization Acts Retirement-Life Communities has acquired an 80,000-square-foot office building in Fort Washington, a northern suburb of Philadelphia. The company will move its operations from West Point, where it has been headquartered since 1989, and will be the sole occupant of the new building. The office complex was built in 2006 and will serve Acts Retirement’s primary base of operations for its 26 senior living campuses located throughout the East Coast, including 12 in the greater Philadelphia area. Employees have already begun transferring to the new office, completion of which is slated for December. The sales price was undisclosed.

November 21, 2019

Development Office Texas

Bright Realty Completes 251,000 SF Offices at The Realm Project in Greater Dallas

by Taylor Williams November 21, 2019

DALLAS — Locally based developer Bright Realty has completed Offices at The Realm, a 235,000-square-foot office project with 16,000 square feet of ground-floor retail space in Lewisville, located north of downtown Dallas. The project represents Phase I of Bright Realty’s 324-acre Realm at Castle Hills mixed-use development. Amenities at Offices at The Realm include a fitness center, conference center and a rooftop terrace. Coworking firm Venture X has also signed a lease to occupy 30,371 square feet at the nine-story building. BOKA Powell designed the project, and Hill & Wilkinson served as the general contractor. Phase II of The Realm at Castle Hills will deliver a 260-unit apartment community with ground-floor retail and restaurant space in fall 2020.

November 21, 2019

Development Multifamily New Jersey Northeast

NRIA Underway on 97-Unit Apartment Building in West New York, New Jersey

by Alex Patton November 21, 2019

WEST NEW YORK, N.J. — National Realty Investment Advisors is underway on development of The Station, a $49 million apartment building in West New York, located across the Hudson River in New Jersey. The property will comprise 97 one- and two-bedroom apartments with a rooftop deck, fitness center and club room. The building is located directly across the street from the Bergenline Light Rail Station. The Station will be open to residents in 2021.

November 21, 2019

Acquisitions Multifamily Texas

Presidium Sells 265-Unit Ascent at Lake Worth Multifamily Complex in Fort Worth

by Taylor Williams November 21, 2019

FORT WORTH, TEXAS — Texas-based multifamily investment and development firm Presidium has sold Ascent at Lake Worth, a 265-unit apartment community in Fort Worth. The property features studio, one, two- and three-bedroom units averaging 935 square feet. Communal amenities include two pools, a fitness center, dog park, clubhouse, outdoor kitchen and fire pit, media room, playground, coffee bar and a business center. Taylor Snoddy, Philip Wiegand and James Roberts of NorthMarq represented Presidium in the transaction. Stephen Whitehead, Lauren Bresky and Will Hancock of NorthMarq arranged a permanent, fixed-rate Fannie Mae loan for the transaction. Both the buyer and the amount of the loan were undisclosed.

November 21, 2019

Development Multifamily Northeast Retail Vermont

Vermont Museum, M&S Development Plan $30M Art Center, Multifamily Building

by Alex Patton November 21, 2019

BRATTLEBORO, VT. — The Brattleboro Museum & Art Center (BMAC) and M&S Development have revealed development plans for a proposed $30 million art gallery and museum in Brattleboro, located in southern Vermont. The 55,000-square-foot building will feature art galleries, classrooms, a café and 24 apartment units. Boston-based Schwartz/Silver Architects is designing the project in collaboration with local architect Stevens & Associates. BMAC is currently raising funds for the project, and the timeline of construction was undisclosed.

November 21, 2019

Acquisitions Multifamily Texas

Legacy REI Group Acquires 185-Unit Silverado Apartments in Irving

by Taylor Williams November 21, 2019

IRVING, TEXAS — Locally based investment firm Legacy REI Group has acquired Silverado Apartments, a 185-unit multifamily community in Irving. The property was built in 1970, features an average unit size of 780 square feet and was 97 percent occupied at the time of sale. Chris Deuillet and Chandler Sims of CBRE represented the seller, Plano-based Elmstone Group, in the transaction. The new ownership will implement a value-add program.

November 21, 2019

Acquisitions Multifamily Washington Western

Vulcan Real Estate Sells 209-Unit Augusta Apartments in Seattle for $98.1M

by Amy Works November 21, 2019

SEATTLE — Vulcan Real Estate has completed the disposition of Augusta Apartments, a multifamily property located at 4041 Roosevelt Way NE in Seattle. A joint venture between Security Properties and STARS REI acquired the asset for $98.1 million. Completed in 2017, the seven-story Augusta Apartments features 209 rental units and 3,470 square feet of ground-floor retail space. Community amenities include a roof deck and courtyard, community lounges, a guest suite, study area, fitness center, dog grooming room and a sports court. Runberg Architecture Group designed the LEED Platinum-certified property, which Exxel Pacific constructed. Additionally, the asset is located within walking distance of the University of Washington campus, Burke Gilman Trail and the new University District light rail station, which is slated to open in 2021. David Young and Corey Marx of JLL Capital Markets represented the seller, while Charles Halladay and Scott Gilson of JLL Capital Markets arranged acquisition financing for the buyers.

November 21, 2019

Acquisitions Multifamily Texas

Marcus & Millichap Brokers Sale of 120-Unit Meadows Apartments in Metro Dallas

by Taylor Williams November 21, 2019

LANCASTER, TEXAS — Marcus & Millichap has brokered the sale of The Meadows, a 120-unit multifamily community located in the southern Dallas suburb of Lancaster. The property was built in 1981 and offers amenities such as a pool and an office/clubhouse. Al Silva and Ford Braly of Marcus & Millichap represented the seller, a Washington-based investment firm, and procured the buyer, a Texas-based limited liability company that will implement a value-add program. Both parties requested anonymity.

November 21, 2019

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