Property Type

Mid-America Brokers Sale of 7,882 SF Retail Building in Oak Creek, Wisconsin

by Kristin Harlow January 21, 2020

OAK CREEK, WIS. — Mid-America Real Estate Corp. has brokered the sale of a 7,882-square-foot retail building on an outlot to Drexel Town Square in Oak Creek, about 12 miles south of Milwaukee. The sales price was undisclosed. The property is fully leased to five tenants, including Associated Bank, Sport Clips, Bentley’s Pet Stuff, Charles Schwab and Tropical Smoothie Café. Carly Gallagher Kelly and Andrew Prater of Mid-America represented the seller, a Wisconsin-based developer. A private investor purchased the asset.

January 21, 2020

Acquisitions Massachusetts Northeast Office

NKF Arranges $128M Sale of 535-545 Boylston Street Office Building in Boston

by Alex Patton January 21, 2020

BOSTON — Newmark Knight Frank has arranged the $128 million sale of 535-545 Boylston Street, a 184,643-square-foot office building located in the Back Bay neighborhood of Boston. At the time of sale, the building was 98 percent leased to 38 tenants. The property offers access to Copley Square and the Raffles Hotel & Residences project that is currently in development. Edward Maher, Matthew Pullen, James Tribble and Samantha Hallowell represented the seller, Manulife Investment Management. A joint venture between Bahrain-based Investcorp and New York-based Brickman was the buyer.

January 21, 2020

Development Multifamily New Jersey Northeast Seniors Housing

Capitol Seniors Housing Opens 88-Unit Arbor Terrace Mount Laurel in New Jersey

by Alex Patton January 21, 2020

MOUNT LAUREL, N.J. — Capitol Seniors Housing has opened Arbor Terrace Mount Laurel, an 88-unit seniors housing community located on the eastern outskirts of Philadelphia. The 75,000-square-foot community offers assisted living and memory care services and amenities such as a bistro, theater room, art studio, technology lounge and fitness center. Meyer Senior Living Studio designed the community.

January 21, 2020

Loans Multifamily New York Northeast Seniors Housing

Greystone Provides $71.3M HUD Loan for Refinancing of Seniors Housing Community on Long Island

by Alex Patton January 21, 2020

AMITYVILLE, N.Y. — Greystone has provided a $71.3 million HUD-insured loan for the refinancing of Massapequa Center Rehabilitation & Nursing, a 320-bed skilled nursing facility in the Long Island village of Amityville. The loan enables the borrower to exit initial bridge financing used to acquire the property in November 2017 and to continue with renovations. The financing carries a fixed interest rate, 30-year term and a 30-year amortization schedule. Originally constructed in 1974, Massapequa Center has undergone $8.5 million in facility upgrades, including the installation of private suites with private showers, the addition of a new commercial kitchen, the creation of a large rehabilitation and wellness center and comprehensive renovations to the entrance lobby, nurse stations and geriatric units. Fred Levine of Greystone originated the transaction.

January 21, 2020

Leasing Activity New Jersey Northeast Office

Serendipity Labs to Open 23,000 SF Coworking Office in Marlton, New Jersey

by Alex Patton January 21, 2020

MARLTON, N.J. — Flexible workspace provider Serendipity Labs will open a 23,000-square-foot coworking office space in Marlton, an eastern suburb of Philadelphia. The space will occupy the entire third floor at 50 Lake Center Executive Park, a 76,359-square-foot office building owned by Twenty Lake Holdings. The space is slated to open in the third quarter.

January 21, 2020

Acquisitions Massachusetts Northeast Retail

Avison Young Brokers $7M Sale of Two Retail Properties in Metro Boston

by Alex Patton January 21, 2020

NEEDHAM AND NEWTON, MASS. — Avison Young Commercial Real Estate has brokered the $7 million sale of two retail properties in Needham and Newton, two western suburbs of Boston. The property in Needham, a 15,609-square-foot retail center located at 238 Highland Ave., is leased to Needham Montessori School, Mandarin Cuisine Restaurant and Needham Nail & Spa. The property in Newton, a 3,588-square-foot building located at 106 Needham St., is leased to fitness equipment distributor Gym Source. Brandon Dickinson of Avison Young represented the seller, Terrazzino Investment Trust, in the transaction. The buyer was not disclosed.

January 21, 2020

Acquisitions Multifamily Texas

JPI Sells 324-Unit Jefferson Landmark Apartment Community in North Dallas

by Taylor Williams January 21, 2020

DALLAS — Locally based multifamily developer JPI has sold Jefferson Landmark, a 324-unit apartment community located near the Galleria area of North Dallas. Completed in 2018, the property features one- and two-bedroom units and amenities such as an infinity-edge pool, a 24-hour mini market and courtyards with cooking stations. The buyer was New York-based Beachwold Residential.

January 21, 2020

Acquisitions Multifamily Texas

Embrey Partners Buys Land in Fort Worth for 293-Unit Apartment Project

by Taylor Williams January 21, 2020

FORT WORTH, TEXAS — San Antonio-based developer Embrey Partners has purchased land in Fort Worth for a 293-unit apartment project. The community will be located southwest of downtown near The Shops at Clearfork and will feature one-, two- and three-bedroom units. Amenities will include a pool, fitness center, a dog park and bike storage space. The groundbreaking is scheduled for the end of January, and the first units are expected to be available for occupancy in summer 2021.

January 21, 2020

Acquisitions Industrial Texas

Rhone Brittmoore Acquires 111,530 SF Industrial Complex in Houston

by Taylor Williams January 21, 2020

HOUSTON — Rhone Brittmoore Logistics LP has acquired a 111,530-square-foot complex of industrial flex and manufacturing buildings in northwest Houston. The complex spans 7.9 acres and formerly served as a campus for Nabors Drilling Technologies USA Inc. Clay Pritchett and Zane Carman of NAI Partners represented Rhone Brittmoore in the transaction. Jeff Peden, Scott Miller and David Cook of Cushman & Wakefield represented Nabors, which was both the seller and former occupant.

January 21, 2020

Acquisitions Industrial Texas

Marcus & Millichap Brokers Sale of 37,736 SF Industrial Property in Houston

by Taylor Williams January 21, 2020

HOUSTON — Marcus & Millichap has brokered the sale of a 37,736-square-foot industrial building located at 7200 Wynnpark Drive in Houston. The property was built on 1.3 acres in 1971 and renovated in 1979 and 1982. Adam Abushagur and Cary Latham of Marcus & Millichap represented the seller, a private investor, in the transaction. Other terms of sale were not disclosed.

January 21, 2020

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