Property Type

JLL Negotiates Sale of Single-Tenant Retail Building in Chicago

by Kristin Harlow December 3, 2019

CHICAGO — JLL has negotiated the sale of a 9,794-square-foot, single-tenant retail building in Chicago for an undisclosed price. The property is triple net leased to Walter E. Smithe, a family-owned and operated local furniture business. Located at 2009 N. Clybourn Ave., the building is one of the tenant’s 10 Chicagoland showrooms. Nicholas Kanich and Alex Sharrin of JLL represented the seller, a Chicago-based private partnership. JLL also procured the buyer, a California-based family office, which purchased the asset while completing a 1031 tax-deferred exchange.

December 3, 2019

Industrial Loans Michigan Midwest

Berkadia Arranges $2.5M Acquisition Loan for Self-Storage Facility in Metro Kalamazoo

by Kristin Harlow December 3, 2019

PORTAGE, MICH. — Berkadia has arranged a $2.5 million acquisition loan for Stowaway Mini Storage in Portage near Kalamazoo. Located at 9879 Portage Road, the 398-unit self-storage facility spans 57,325 square feet. Cutt Ableson and Johnny King of Berkadia arranged the 10-year, fixed-rate loan. CIBC World Markets provided the loan on behalf of the borrower, Crystal View Capital, a private investment firm based in Las Vegas.

December 3, 2019

Acquisitions Illinois Midwest Multifamily

SVN Chicago Commercial Brokers $1.3M Sale of Multifamily Building in Chicago

by Kristin Harlow December 3, 2019

CHICAGO — SVN Chicago Commercial has brokered the sale of a six-unit multifamily building located at 1644 W. 21st St. in Chicago’s Pilsen neighborhood for $1.3 million. The property, situated near the 18th Street Pink Line stop, was renovated in 2012. Paul Cawthon and Angelo Labriola of SVN brokered the transaction. Buyer and seller information was not disclosed.

December 3, 2019

Acquisitions Industrial Texas

Fort Capital Buys 455,331 SF Industrial Portfolio in Arlington

by Taylor Williams December 3, 2019

ARLINGTON, TEXAS — Fort Capital, a Fort Worth-based investment firm, has purchased a portfolio of 10 light industrial buildings totaling 455,331 square feet in Arlington. The buildings, located in the Great Southwest submarket, are situated within half a mile of Interstate 30 and just minutes south of Dallas-Fort Worth International Airport. The seller was not disclosed. With this transaction, Fort Capital has now acquired more than 2.5 million square feet of industrial product in the last two years.

December 3, 2019

Acquisitions Multifamily Seniors Housing Texas

Cushman & Wakefield Brokers Sale of Two Seniors Housing Assets Totaling 265 Units in Metro Dallas

by Taylor Williams December 3, 2019

IRVING AND PLANO, TEXAS — Cushman & Wakefield has brokered the sale of two seniors housing communities totaling 265 units in the Dallas area. The communities include MacArthur Hills in Irving and Prestonwood Court in Plano. The two Class A, infill properties offer a combination of independent living, assisted living and memory care services. The Cushman & Wakefield team involved in the transaction included Richard Swartz, Jay Wagner, Jim Dooley and Chris Remeika. The buyer and sales price were not disclosed.

December 3, 2019

Acquisitions Retail Texas

NAI Partners Acquires 58,929 SF Retail Center in Metro Austin

by Taylor Williams December 3, 2019

ROUND ROCK, TEXAS — NAI Partners’ Investment Fund III has acquired Triangle Center, a 58,929-square-foot retail center situated on 4.9 acres in the northern Austin suburb of Round Rock. According to LoopNet Inc., the property was built in 1984. Andrew Pappas and Adam Hawkins of NAI Partners negotiated the deal with Matt Fain of Equitable Commercial Realty, who represented the undisclosed seller. Veritex Community Bank provided acquisition financing.

December 3, 2019

Industrial Leasing Activity Texas

Crane Service Firm Signs 52,000 SF Industrial Lease Near Fort Worth

by Taylor Williams December 3, 2019

BLUE MOUND, TEXAS — Prolift Rigging, a Virginia-based crane services provider, has signed a 52,000-square-foot industrial lease at 1005 S. Blue Mound Road on the northern outskirts of Fort Worth. Forrest Cook and Sarah Ozanne of Stream Realty Partners represented the landlord, Hilzer Family Trust, in the lease negotiations. The representative of the tenant was not disclosed.

December 3, 2019

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 8,500 SF Industrial Lease in Farmers Branch

by Taylor Williams December 3, 2019

FARMERS BRANCH, TEXAS — Lee & Associates has negotiated an 8,500-square-foot industrial lease in Farmers Branch, a northern suburb of Dallas. Nathan Denton and Adam Graham of Lee & Associates represented the landlord, IC Industrial REIT, in the lease negotiations. Robert Powell of Powell Realty Advisors represented the tenant, TSI Commercial Flooring.

December 3, 2019

Development Mixed-Use New Hampshire Northeast

Tuscan Brands Breaks Ground on 2.8 MSF Tuscan Village Mixed-Use Development in Salem, New Hampshire

by Alex Patton December 3, 2019

SALEM, N.H. — Tuscan Brands has broken ground on construction of Tuscan Village, a 2.8 million-square-foot mixed-use project in Salem, located approximately 30 miles north of Boston. Tuscan Village will comprise 1 million square feet of office space, 800,000 square feet of retail space, 900 residential units for rent and for sale, two hotels, an entertainment district and a medical services facility. Outdoor apparel and equipment retailer L.L. Bean signed a 15,000-square-foot retail lease for a lakefront property on the development’s 6-acre lake that will allow customers to test out kayaks and other water sports equipment on-site. Completion is slated for fall 2020.

December 3, 2019

Connecticut Loans Northeast Office

PGIM Provides $150M Refinancing Loan for Greenwich Plaza in Greenwich, Connecticut

by Alex Patton December 3, 2019

GREENWICH, CONN. — PGIM Real Estate Finance has provided a $150 million refinancing loan for Greenwich Plaza, a two-building office complex located in Greenwich, a western suburb of Stamford. The Ashforth Co., which owns the property, plans to use proceeds from the refinancing for the redevelopment of the Greenwich Train Station transportation center. Originally developed by Ashforth in 1970, Greenwich Plaza comprises two four-story office buildings totaling 325,100 square feet. Tom Goodsite of PGIM Real Estate Finance led the transaction on behalf of the firm. Ken Ziebelman and Ethan Pond of Eastdil Secured arranged the financing.

December 3, 2019

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