SHELBY TOWNSHIP, MICH. — Prism Plastics has signed a 30,470-square-foot industrial lease in Shelby Township, about 15 miles north of Detroit. Prism manufactures high-precision plastic products with a focus on automotive parts. Andrew Boncore of Dominion Real Estate Advisors represented the tenant and the landlord, GSL Holdings LLC. The lease term is 12 years.
NEW ROCHELLE, N.Y. — RXR Realty, a New York-based developer, has opened 360 Huguenot, a 280-unit multifamily property in New Rochelle, just north of The Bronx. The property offers studio and two-bedroom apartments, with amenities including an outdoor terrace with green space, conference room and a fitness center. The ground floor of the building features 14,000 square feet of retail space and 10,000 square feet of arts and culture space.
LONG ISLAND CITY, N.Y. — Maquette, a New-York based fine art logistics company, has signed a 46,000-square-foot industrial lease in Long Island City. The property, 48-49 35th Street, is a 260,000-square-foot warehouse originally built in 1949. Forrest Mas and Chris Pachios of North River Co., the landlord, negotiated the lease directly with the tenant.
FRANKLIN, MASS. — TMC Holdings & Development LLC will develop a 50,000-square-foot industrial property in Franklin, about 30 miles southwest of Boston. Formerly the site of a glass recycling facility, the property is located in the Marijuana Overlay District with frontage on I-495. TMC Holdings plans to demolish the facility and build a 50,000-square-foot warehouse with 22 to 24-foot clear heights. Construction is slated to begin in fall 2019. John Eysenbach of R.W. Holmes represented TMC Holdings in the transaction, as well as the seller, Strategic Materials Inc.
LYNN, MASS. — Fantini & Gorga has arranged $12.6 million in permanent financing for Marian Gardens, a 94-unit affordable housing multifamily property in Lynn, about 12 miles northeast of Boston. The property was built in the 1960s and includes two-, three- and four-bedroom townhouse units. Tim O’Donnell, Jason Cunnane and Lindsay Feig of Fantini and Gorga arranged the loan. The borrower and lender in the transaction were undisclosed.
BASKING RIDGE, N.J. — JLL has secured an undisclosed amount of acquisition financing for a 104,000-square-foot office portfolio in Basking Ridge, about 30 miles west of New York. TD Bank provided the loan, which carries a seven-year term and a fixed interest rate. The property, 180-188 Mount Airy Road, consists of two adjacent buildings and an ancillary structure. At the time of the closing, the buildings were 98 percent leased to a variety of tenants, including Global Bankers Insurance Group and Microchip Technology. The borrower was a partnership between PAG Investments and CIG Properties.
DENVER — CBRE has arranged the sale of a LEED Gold-certified industrial flex building located at 6144 N. Panasonic Way in northeast Denver’s Airport corridor. Omaha-based NewStreet Properties acquired the property from Denver-based Westfield Co. for $22 million. Westfield Co. originally constructed the 112,966-square-foot facility as a build-to-suit for Panasonic Enterprise Solutions (PESCO), a technology and solar subsidiary of Panasonic, in 2016. The smart property features warehouse, assembly, research and design space, as well as a two-story office space with Class A finishes. Situated on six acres, the property is adjacent to the 61st and Peña Light Rail Station. Tyler Carner, Jeremy Ballenger and Jim Bolt of CBRE represented the seller in the deal.
VISALIA, CALIF. — The Mogharebi Group (TMG) has arranged the sale of Cameron Crossing, an apartment community located in Visalia. A Visalia-based private family acquired the asset for $16.3 million, or $170,000 per unit. Situated on a 4.8-acre site, Cameron Crossing features 96 units in a mix of one-, two- and three-bedroom floor plans, with an average size of 957 square feet. Additionally, the property features a swimming pool, clubhouse, laundry facilities and reserved parking. Alex Mogharebi, Otto Ozen, Robin Kane, Mark Bonas and Brendan Kane of TMG represented the seller, a Washington-based private investment group, in the transaction.
PHOENIX — Next Gen Black Canyon, an entity controlled by Helix Properties, has acquired Black Canyon Commerce Park, a three-building office park in Phoenix’s I-17 Corridor. Irvine, Calif.-based Granite Black Canyon Holdings sold the multi-tenant asset for $10.7 million. Barry Gabel, Chris Marchildon and Will Mast of CBRE’s Phoenix office represented the seller in the deal. CBRE Property Management will continue to manage the property, with Ashley Brooks of CBRE serving as the leasing agent. Built in phases between 1999 and 2001, Black Canyon Commerce Park is situated on 16.1 acres at 2101, 2133 and 2225 W. Peoria Ave. The 181,584-square-foot property, which was 65 percent leased at the time of sale, features two single-story buildings and one two-story building.
GILBERT, ARIZ. — Wentworth Property Co. has completed the sale of a build-to-suit office/flex building located at 2228 W. Guadalupe Road in Gilbert. A private trust acquired the property for $9.9 million. Built this year by Wentworth Property Co., the property features 34,132 square feet of office and flex space. New York-based Moog Inc., a designer and manufacturer of high performance motion control products, solutions and services, occupies the building, which features a custom build-out for the company with specific amenities to support Moog’s work in the aircraft, industrial, medical and space and defense markets. Brian Ackerman and Steve Sayre of JLL represented the seller, while Ian Hackett of Hackett Real Estate Solutions represented the buyer in the deal. Deutsch Architecture Group served as architect for the build-out.