Property Type

Hanley Investment Group Brokers $6.6M Sale of Retail Center on Long Island

by Alex Patton August 22, 2019

HICKSVILLE, N.Y. — Hanley Investment Group (HIG) has brokered the $6.6M Sale of a 13,300-square-foot retail center in Hicksville. The center was 100 percent leased at the time of sale with tenants including Dunkin’, Pizza Hut and DTE Window Tinting. The final sale also included a single-family home near the property. Dylan Mallory and Jeff Lefko of HIG along with Marty Sass of New York-based Silber Investment Properties represented the seller, Riark LLC, in the transaction. Robert Sharfstein of RPS Capital Management represented the buyer, a local investor.

August 22, 2019

Acquisitions California Multifamily Western

Marcus & Millichap Arranges $12M Sale of Bluff Place Apartments in San Pedro, California

by Amy Works August 22, 2019

SAN PEDRO, CALIF. — Marcus & Millichap has negotiated the sale of Bluff Place, an apartment property located in San Pedro. A limited liability company sold the property for $12 million. Located at 4034 S. Pacific Ave., the building features 36 apartments in a mix of one studio, seven one-bedroom, 24 two-bedroom and four three-bedroom layouts. At the time of sale, 31 of the 34 units were vacant. The buyer plans to extensively renovate the property prior to releasing the units. Kevin King of Marcus & Millichap’s Long Beach, Calif., office represented the seller, while Bryan Schellinger of Marcus & Millichap’s Los Angeles office represented the buyer, another limited liability company, in the deal.

August 22, 2019

Leasing Activity New Jersey Northeast Retail

Edge Fitness Signs 48,776 SF Retail Lease in Voorhees, New Jersey

by Alex Patton August 22, 2019

VOORHEES, N.J. — Edge Fitness Clubs has signed a 48,776-square-foot retail lease at the Echelon Village Plaza in Voorhees, a southeastern suburb of Philadelphia. The gym will anchor the 90,000-square-foot retail center, which also houses a Dunkin’ and Voorhees Veterinary. Scott Benson and Brandon Anapol of Metro Commercial represented Edge Fitness in the lease negotiation. David Dunkelman of Soloff Realty & Development represented the landlord, Site Centers.

August 22, 2019

Loans Multifamily Texas

Watermark Refinances 312-Unit Apartment Community in Metro Houston

by Taylor Williams August 22, 2019

MISSOURI CITY, TEXAS — Watermark Residential, an Indianapolis-based real estate development and management firm, has secured a loan of an undisclosed amount for the refinancing of The Ranch at Sienna Plantation, a 312-unit multifamily community located in the southwestern Houston suburb of Missouri City. The property features one-, two- and three-bedroom units and amenities such as a pool, resident clubhouse with a coffee bar, outdoor kitchen, dog park and a game room. P.J. McDevitt of Greystone originated the loan, and Christopher Hilbert of 3G Capital Advisors placed the debt. The borrower was not disclosed.

August 22, 2019

Acquisitions Arizona Retail Western

SRS Real Estate Partners Brokers $2.2M Sale of Walgreens-Occupied Property in Arizona

by Amy Works August 22, 2019

GILBERT, ARIZ. — SRS Real Estate Partners has arranged the sale of a single-tenant retail property located at 805 S. Val Vista Drive in Gilbert. An Arizona-based private investor sold the asset to a San Diego-based fund for $2.2 million. Walgreens occupies the 13,905-square-foot property, which was built in 1999 and features a drive-thru and two monument signs. The tenant recently signed a corporate-guaranteed lease extension. Patrick Luther, Britt Raymond and Matthew Mousavi of SRS Real Estate Partners represented the seller, while Jan Fincham of Lee & Associates represented the buyer in the deal.

August 22, 2019

Acquisitions Office Texas

JLL Brokers Sale of 51,508 SF Office Building in San Antonio

by Taylor Williams August 22, 2019

SAN ANTONIO — JLL has brokered the sale of 800 Dolorosa, a 51,508-square-foot office building situated on approximately two acres in downtown San Antonio. The sale includes a 174-space surface parking lot. Chuck King and Ben Jordan of JLL represented the seller, GTM Washington Square Ltd., in the transaction. 800 Painful LP, an affiliate of Weston Urban, acquired the property for an undisclosed price. Occupancy was 91.6 percent at the time of sale.

August 22, 2019

Leasing Activity New Jersey Northeast Office

JLL Negotiates 8,474 SF Office Lease Extension in Bernardsville, New Jersey

by Alex Patton August 22, 2019

BERNARDSVILLE, N.J. — JLL has negotiated an 8,474-square-foot office lease extension in Bernardsville, located about 30 miles west of New York City. The property, located at 150 Morristown Road, recently underwent a $500,000 capital improvement project that upgraded the lobby, lighting, HVAC system and walkway. Charlie Dillon of JLL represented the tenant, Decile.Ten Communications, in the lease negotiations. David Zimmel of Zimmel Associates represented the landlord, Denholtz Associates.

August 22, 2019

Industrial Leasing Activity Texas

Mid-American Supply Signs 45,623 SF Industrial Lease Renewal in Dallas

by Taylor Williams August 22, 2019

DALLAS — Mid-American Supply Corp. has signed a 45,623-square-foot industrial lease renewal at 11550-11570 Hillguard Road in Dallas. Trevor Atkins and John Hendricks with CBRE represented the landlord, GLP, in the lease negotiations. Tucker Cason of Mercer Co. represented the tenant.

August 22, 2019

Industrial Leasing Activity Texas

NKF Negotiates 107,571 SF Industrial Lease Extension in Houston

by Taylor Williams August 22, 2019

HOUSTON — Newmark Knight Frank (NKF) has negotiated a 107,571-square-foot industrial lease extension at 502 Garden Oaks Blvd. in Houston. Griffin Rich and Reggie Beavan III of NKF represented the tenant, Kulkoni Inc., a supplier of wire ropes, cables and chains, in the lease negotiations. Insite Realty Partners represented the landlord, Billingsley Pine Forest #19 Ltd.

August 22, 2019

Development Retail Texas

Cinemark to Open Eight-Screen Movie Theater in Cypress, Texas

by Taylor Williams August 22, 2019

CYPRESS, TEXAS — Cinemark Holdings will open an eight-screen CUT! by Cinemark movie theater in Cypress, a northwestern suburb of Houston. The theater will feature wall-to-wall screens, enhanced sound systems, a full-service food menu and bar and an outdoor patio with a fireplace and games. Washington Prime Group will develop the theater, with construction scheduled to begin in November and the opening slated for July 2020.

August 22, 2019

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