Property Type

Pinnacle Real Estate Advisors Arranges $7.2M Acquisition of Arvada West Town Center Retail Asset in Colorado

by Amy Works June 7, 2019

ARVADA, COLO. — Pinnacle Real Estate Advisors has arranged the purchase of The Arvada West Town Center, a retail strip center in Arvada, a suburb roughly 10 miles northwest of Denver. Courtyard on Vine St LLC and William Penn Apartments LLC acquired the asset for $7.2 million to complete a 1031 exchange. The name of the seller was not released. Located at 14455-14715 W. 64th Ave., the property features 40,859 square feet of retail space. Jeff Johnson and Andrew Monette of Pinnacle Real Estate Advisors represented the buyers in the deal.

June 7, 2019

California Development Multifamily Seniors Housing Western

Silverado Prepares to Open $12M Memory Care Community in Orange County

by Amy Works June 7, 2019

BREA, CALIF. — Silverado plans to open Silverado Brea, located approximately 20 miles southeast of Los Angeles, by the end of summer 2019. The nearly 34,000-square-foot, two-story community joins nearby Silverado communities in Tustin, Costa Mesa and San Juan Capistrano. The number of units in the community was not disclosed. The $12 million development sits on 1.15 acres.

June 7, 2019

Industrial Leasing Activity Texas

Furniture Manufacturer Signs 618,000 SF Industrial Lease at Spec Facility in Metro Dallas

by Taylor Williams June 7, 2019

CARROLLTON, TEXAS — Steelcase Inc., a manufacturer of furniture for the office, hospitality and education sectors, has signed a 618,000-square-foot industrial lease in the northern Dallas suburb of Carrollton. The company will occupy the entirety of the space at 1050 and 1150 Luna Road, a facility that Atlanta-based Core5 Industrial Partners built on a speculative basis. Mark Miller and Dave Peterson of NAI Robert Lynn, along with Arie Saloman of NAI Puget Sound negotiated the transaction on behalf of Steelcase. Rick Medinis and Tyson Erwin, also with NAI Robert Lynn, represented the landlord. Steelcase expects to assume occupancy of the new space, which features 32- to 36-foot clear heights and proximity to several major thoroughfares, this summer. Steelcase also plans to hire approximately 400 seasonal employees this year and recently acquired manufacturing space in Plano that was occupied by one of its competitors, Smith System Manufacturing Co.

June 7, 2019

Development Industrial Texas

City of Mesquite Approves Zoning for $71M Industrial Park

by Taylor Williams June 7, 2019

MESQUITE, TEXAS — The City of Mesquite, located east of Dallas, has approved a change in zoning for the development of Urban District 30, an 80-acre industrial park that will be located near Interstate 30 and Republic Parkway. The project, which will be built on spec by Urban Logistics Realty, will ultimately encompass more than 979,000 square feet of industrial space across five buildings. The developer also expects that the project, which carries a $71 million price tag, will generate more than 500 new jobs in Mesquite. Discussions for economic incentives between the developer and the city’s economic development department are still ongoing, but both sides hope to be able to break ground before the end of the year.

June 7, 2019

Development Multifamily Texas

CWS Apartment Homes to Open New Community in Downtown Austin on June 15

by Taylor Williams June 7, 2019

AUSTIN, TEXAS — CWS Apartment Homes, a locally based multifamily developer and manager, will open The Clark, a new community located in downtown Austin, on June 15. Situated near an array of dining, shopping and entertainment venues, The Clark offers amenities including a pool, 24-hour fitness center with virtual classes, sky lounge, an outdoor kitchen and grill areas and a dog park with a grooming station. Units feature quartz countertops, marble tile backsplashes and smart front door locks and thermostats that can be controlled via smartphone. Oden Hughes Taylor Construction LLC served as the general contractor.

June 7, 2019

Acquisitions Industrial Self-Storage Texas

Bellomy Arranges Sale of 592-Unit Self-Storage Facility in Richwood, Texas

by Taylor Williams June 7, 2019

RICHWOOD, TEXAS — Bellomy & Co., a self-storage brokerage firm with offices in Houston and Austin, has arranged the sale of Richwood Self Storage, a 592-unit facility situated on 5.4 acres in Richwood, located about 50 miles south of downtown Houston. The facility spans 74,825 net rentable square feet and offers climate- and non-climate-controlled space. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the New York City-based seller in the transaction. The buyer was Merit Hill Capital, a Brooklyn-based self-storage investment and development firm.

June 7, 2019

Acquisitions Office Texas

Triten Real Estate Buys 90,795 SF Office Building in Dallas

by Taylor Williams June 7, 2019

DALLAS — Triten Real Estate Partners has purchased Tollway Place, a 90,795-square-foot office building located at 15110 North Dallas Parkway in Dallas in an off-market transaction. Triten is underway on a renovation program at the six-story building and plans to add a ground-floor restaurant space that will be occupied by Velvet Taco. Additional renovation plans include upgrades to the lobby and elevators, as well as the addition of a corporate lounge and conference center. Perkins + Will is the architect for the renovation project, which is expected to be complete this fall. CBRE is marketing Tollway Place for lease.

June 7, 2019

Acquisitions Connecticut Northeast Office

Rubenstein Acquires 450,000 SF Office Building in Stamford, Connecticut

by Taylor Williams June 7, 2019

STAMFORD, CONN. — Rubenstein Partners LP, an investment firm focused on the office sector, has acquired 600 Washington Boulevard, a 450,000-square-foot office building in Stamford, about 40 miles north of New York City. The sales price was not disclosed. The property was originally built in 2009 to serve as the headquarters of the Royal Bank of Scotland and was 85 percent leased at the time of sale. Tenants include UBS and Bank of America. JLL represented the seller, NatWest Markets, which is also a tenant at the building, in the transaction.

June 7, 2019

Acquisitions Multifamily New Hampshire Northeast

CBRE Negotiates $67M Sale of Apartment Community in Manchester, New Hampshire

by Taylor Williams June 7, 2019

MANCHESTER, N.H. — CBRE has negotiated the $67 million sale of Waterford Place, a 384-unit multifamily community in Manchester. Built in phases between 2004 and 2005, the property is situated on nearly 67 acres just off I-93 and I-293. Floor plans consist of one- and two-bedroom units averaging 998 square feet. Amenities include an indoor pool, fitness center, theater room, tennis court, resident clubhouse, walking trails and outdoor grilling stations. Simon Butler and Biria St. John of CBRE represented the seller, SMC Waterford Place Apartments Ltd., in the transaction. The buyer was an affiliate of Cambridge, Mass.-based Forest Properties.

June 7, 2019

Acquisitions Industrial Massachusetts Northeast

Stubblebine Arranges Sale of 142,000 SF Industrial Facility in Holbrook, Massachusetts

by Taylor Williams June 7, 2019

HOLBROOK, MASS. — The Stubblebine Co., an industrial brokerage firm that is active throughout New England, has arranged the sale of a 142,000-square-foot facility in Holbrook, located south of Boston. The sales price was approximately $5 million. The multi-tenant property features 19- to 27-foot clear heights and 25 loading docks. David Stubblebine and James Stubblebine represented the buyer and seller, both of which requested anonymity, in the transaction.

June 7, 2019

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