Property Type

Hana to Open 39,000 SF Coworking Space in JBG Smith’s National Landing in Arlington, Virginia

by Alex Tostado January 9, 2020

ARLINGTON, VA. — Hana, a coworking office operator and subsidiary of Los Angeles-based CBRE Group Inc., will lease 39,000 square feet of space within JBG Smith Properties’ National Landing development, home of Amazon’s future HQ2 campus. Hana will occupy 2451 Crystal Drive, an 11-story, nearly 400,000-square-foot office building in Arlington. The National Landing location, five miles south of Washington, D.C., will be one of Hana’s six announced offices in the United States and United Kingdom. The property’s amenities include an onsite childcare facility, fitness center with showers and locker rooms, restaurants, café and bike storage/repair. 2451 Crystal Drive is less than one mile from the Virginia Railway Express Crystal City station and the Crystal City Washington Metro station. Hana expects to open the National Landing location this year. The first Hana concept opened in Dallas in August and three additional locations have been announced in London, as well as one in Irvine, Calif.

January 9, 2020

Acquisitions Massachusetts Northeast Office

JLL Brokers $46.1M Sale of Office Building in Boston

by Alex Patton January 9, 2020

BOSTON — JLL has brokered the $46.1 million sale of 15 Broad Street, a 77,678-square-foot office building in Boston. Originally constructed in 1910 as the Marshall Building, the property is a landmark in downtown Boston, situated within walking distance of Fairlane Park and multiple transit stations. The property also features street-level retail space. Coleman Benedict, Lauren O’Neil and Matthew Sherry led a JLL team that represented the seller, Brookfield Properties, in the transaction. The team also procured the buyer, TA Realty

January 9, 2020

constitution-professional-park-newington-conn

Acquisitions Connecticut Healthcare Northeast Office

Jacobson Properties Arranges Sale of 31,198 SF Medical Office Complex in Newington, Connecticut

by Alex Patton January 9, 2020

NEWINGTON, CONN. — Jacobson Properties has arranged the $8.8 million sale of Constitution Professional Park, a 31,198-square-foot medical office complex in Newington, a southern suburb of Hartford. Hartford Hospital Eye Surgery Center anchors 55 percent of the three-building complex. Other tenants include Starling Physicians and Select Physical Therapy. Lisa Menin of Jacobson Properties represented the seller, Newington Realty, in the transaction. A national healthcare real estate investor was the buyer.

January 9, 2020

Loans New Jersey Northeast Retail

Procida Provides $10M Construction Loan for Amusement Pier in Seaside Heights, New Jersey

by Alex Patton January 9, 2020

SEASIDE HEIGHTS, N.J. — Procida Funding has provided a $10 million construction loan to The Mabie Group to finance the reconstruction of the Belle-Freeman Amusement Pier in Seaside Heights. The coastal city is located about 65 miles east of Philadelphia. Dating back to the early 1920s, the pier was previously home to a number of small eateries, arcades, amusement games and rides but was ravaged by Superstorm Sandy in 2012 and finally destroyed by a fire in 2013. Proposed plans call for the transformation of the currently vacant boardwalk into an entertainment destination featuring a 17,500-square-foot multi-tier bar and restaurant, a concert venue and several small retail buildings. The construction schedule has not been disclosed.

January 9, 2020

Development Multifamily Texas

Wayfinder Breaks Ground on 321-Unit Apartment Community Near Downtown Austin

by John Nelson January 9, 2020

AUSTIN, TEXAS — Wayfinder Real Estate has begun construction on The Troubadour, a 321-unit apartment community located within the University Park master-planned development in Austin. The six-story property will be situated one mile north of downtown at the southwest corner of Concordia Avenue and Interstate 35, the former site of Concordia University. Set to open in late 2021, The Troubadour will offer one-, two- and three-bedroom floor plans, as well as a resort-style pool, 24-hour fitness center, indoor bike storage and maintenance facility and two rooftop decks, one of which will be equipped for outdoor movie screenings. The Troubadour represents the first development for Wayfinder, an Austin-based firm founded by real estate veterans Mac McElwrath and Chris Sipes. The project team includes general contractor Oden Hughes Construction, architect Davies Collaborative, civil engineer Jones Carter, landscape architect Blu Fish Collaborative, MEP engineer MEP Delta Design and interior designer PPDS. Vantage Bank provided construction financing on behalf of Wayfinder.

January 9, 2020

Leasing Activity New York Northeast Office

NKF Negotiates 10,008 SF Office Lease in Manhattan

by Alex Patton January 9, 2020

NEW YORK CITY — Newmark Night Frank has negotiated a 10,008-square-foot office lease on behalf of collegiate sports marketing firm Learfield IMG College in the NoMad neighborhood of Manhattan. The space is located on the 17th floor of 183 Madison Avenue, a 275,413-square-foot office building close to the Grand Central and Penn Station transit stations. Andrew Sachs, Tim Gibson, Josh Gosin and Brittany Silver of NKF represented the landlord, APF Properties, in the lease negotiations. Jack Senske and Brian Given of Colliers International represented Learfield.

January 9, 2020

Acquisitions Multifamily Texas

Waterton Acquires 809-Unit Multifamily Portfolio in Metro Houston

by John Nelson January 9, 2020

HOUSTON — Waterton, a multifamily and hospitality owner and operator based in Chicago, has nearly doubled its multifamily holdings in the Houston area with the purchase of three apartment communities totaling 809 units. The properties include Reserve by the Lake in Houston, Madison on the Meadow in Stafford and Summerwind in Pearland. Waterton plans to make capital improvements at all three properties, including all unit interiors, existing clubhouses and common areas. Each unit will be upgraded with new stainless steel appliances, cabinet resurfacing and hardware, as well as upgraded lighting and plumbing packages. Exterior upgrades will include new paint and modernized clubhouses, pool areas and other common area amenities. The seller(s) and sales price were not disclosed.

January 9, 2020

Massachusetts Northeast Retail

Linear Retail Acquires 6,291 SF Retail Property in Cambridge, Massachusetts

by Alex Patton January 9, 2020

CAMBRIDGE, MASS. — Linear Retail Properties LLC has acquired a 6,291-square-foot retail store property comprising three adjacent buildings in the Porter Square Neighborhood of Cambridge, a northwestern suburb of Boston, for $3.6 million. Located at 1755-1761 Massachusetts Ave., the property is fully leased to The Abbey Irish Pub, One Ramen & Sushi, The Laundry Room and Judy Jetson hair salon. Anthony Bruno and Kerry Dowlin of Gibson Sotheby’s International Realty brokered the transaction. The seller was undisclosed.

January 9, 2020

Acquisitions Industrial Texas

Marcus & Millichap Negotiates Sale of Empire Commerce Industrial Facility in Dallas

by John Nelson January 9, 2020

DALLAS — Marcus & Millichap has arranged the sale of Empire Commerce Center, a 44,537-square-foot industrial facility located at 1150 Empire Central Place in Dallas. The property was built in 1982 on a 3.2-acre site about three miles south of Dallas Love Field Airport. Adam Abushagur and Ron Hebert of Marcus & Millichap represented the seller, a private investor, in the transaction. The unnamed buyer is based in Mexico and is a repeat buyer in the market.

January 9, 2020

Acquisitions Retail Texas

Resolute RE Brokers Sale of Bull Creek Market Shopping Center in Austin

by John Nelson January 9, 2020

AUSTIN, TEXAS — Resolute RE has brokered the sale of Bull Creek Market, a 27,040-square-foot shopping center located at 6203 N. Capital of Texas Highway in Austin’s Northwest Hills submarket. The property was listed for sale at $6.3 million, which would represent an 8.5 percent cap rate. Bull Creek Market was 96 percent leased at the time of sale to tenants including Sherwin Williams, Waterloo Ice House, Siente Ristorante Toscana, Chase Flooring, 360 Pizza and Sharkey’s Cuts for Kids. The three-building retail center was built in 1999 and 2004 on a seven-acre site, according to LoopNet Inc. Janice Landers of Resolute RE represented the undisclosed seller in the transaction. Sara Foskitt of Floyd Real Estate represented the unnamed buyer.

January 9, 2020

Newer Posts

Older Posts