Property Type

Cohen Financial Secures $17.1M Acquisition Loan for New Retail Center Near Savannah

by Alex Tostado July 15, 2019

HINESVILLE, GA. — Cohen Financial, a division of SunTrust Bank, has arranged a $17.1 million acquisition loan for Oglethorpe Square in Hinesville. Goldman Sachs provided the 10-year loan to an undisclosed borrower. Hutton sold the property for $24 million. Situated about 40 miles southwest of downtown Savannah, the 159,329-square-foot Oglethorpe Square, which Hutton completed in March 2017, is a fully leased retail center with tenants including Dick’s Sporting Goods, Hobby Lobby, T.J. Maxx and Ulta Beauty. Drew Fleming, Mark Joines and Henry Kushner of Newmark Knight Frank represented the seller in the transaction.

July 15, 2019

Development Northeast Office

Silverstein Completes $50M Renovation of Former Bankers Club Building in Manhattan

by Taylor Williams July 15, 2019

NEW YORK CITY — Silverstein Properties, a private development firm based in New York, has completed $50 million capital improvement program of the Bankers Club, located within The Equitable Building at 120 Broadway. The 104-year-old office building is set to reopen July 17. Silverstein’s renovations added a 20,000-square-foot rooftop area and an 8,000-square-foot indoor lounge to the property. Other renovations include an improved building façade, lobby and elevators.

July 15, 2019

Leasing Activity Northeast Pennsylvania Retail

City Center Investment Corp. to Open 12,000 SF Food Hall in Allentown This Fall

by Taylor Williams July 15, 2019

ALLENTOWN, PA. — City Center Investment Corp. plans to open Downtown Allentown Market, a $4 million project in Allentown. The 12,000-square-foot retail space will be located within the City Center Allentown mixed-use development. The market will feature nine food and drink merchants, indoor and outdoor seating and flexible space for programming and pop-up shops. Brick-and-mortar tenants include sushi/poke concept Shinsen; Mediterranean restaurant Zahra; ice creamery Batch Microcreamery; Little Miss Korea; Doughnut Love, Licensed to Grill @ The Market; and Tavola pizzeria. The food hall will also house a distillery. City Center Investment Corp. partnered with Groundswell Design Group and mixed-use urban developer Cana Development on the project.

July 15, 2019

Loans Multifamily Northeast Seniors Housing Vermont

Carnegie Capital Arranges $29M Loan for Refinancing of Seniors Housing Property in Vermont

by Taylor Williams July 15, 2019

VERMONT — Carnegie Capital, a financial intermediary based in Austin, Texas, has arranged a $29 million loan for the refinancing of a seniors housing community in Vermont. The Class A property, the name of which was not disclosed, includes 80 units and offers assisted living and memory care services. The one-year, interest-only loan will be used to refinance existing construction debt. The borrower was also undisclosed.

July 15, 2019

Leasing Activity New Jersey Northeast Retail

Cushman & Wakefield Negotiates Two Retail Leases Totaling 4,800 SF in Short Hills, New Jersey

by Taylor Williams July 15, 2019

SHORT HILLS, N.J. — Cushman & Wakefield has negotiated two retail leases totaling 4,800 square feet in The Plaza at Short Hills in New Jersey. Atlanta-based boutique fitness concept Blast will open a 2,800-square-foot gym at the center for its first New Jersey location, and tutoring agency C2 Education will open a 2,000-square-foot store. David Townes and Alana Friedman of Cushman & Wakefield represented the landlord in the C2 Education deal, and Gary Krauss of Pierson Commercial Real Estate represented the tenant. Townes also represented Blast Fitness in the lease negotiations.

July 15, 2019

Acquisitions Industrial Self-Storage Texas

NitNeil Partners Purchases 678-Unit Self-Storage Facility in Metro Austin

by Taylor Williams July 15, 2019

ROUND ROCK, TEXAS — NitNeil Partners, a self-storage investment firm with offices in Atlanta, Austin and Tampa, has purchased a 678-unit self-storage facility in Round Rock, a northern suburb of Austin. The newly built, multi-story property spans approximately 78,000 rentable square feet of climate-controlled space. Life Storage manages the property, which is NitNeil’s second in metro Austin, including one under construction within an East Austin opportunity zone. Bill Bellomy and Michael Johnson of Bellomy & Co. represented both NitNeil Partners and the Austin-based seller in the transaction.

July 15, 2019

Loans Multifamily Texas

Dougherty Arranges Acquisition Financing for 208-Unit Apartment Community in Dallas

by Taylor Williams July 15, 2019

DALLAS — Minneapolis-based Dougherty Mortgage LLC has arranged an undisclosed amount of Fannie Mae acquisition financing for Northhaven Terrace, a 208-unit multifamily community in Dallas. The property was built in 1968 and consists of 26 two-story buildings and a leasing office. Dougherty arranged the funds through a partnership with Old Capital Lending on behalf of un undisclosed limited liability company.

July 15, 2019

Industrial Leasing Activity Texas

NKF Negotiates 41,675 SF Industrial Lease Extension in Metro Houston

by Taylor Williams July 15, 2019

HUMBLE, TEXAS — Newmark Knight Frank (NKF) has negotiated a 41,675-square-foot industrial lease extension at 14428 Smith Road in Humble, a northern suburb of Houston. Garrett Gibbons, Trace Elrod and John Brewer of NKF represented the tenant, Global Heat Transfer Houston, in the lease negotiations. Capital Real Estate Commercial represented the undisclosed landlord.

July 15, 2019

Acquisitions Retail Texas

Marcus & Millichap Arranges Sale of 36,910 SF Retail Property in Arlington

by Taylor Williams July 15, 2019

ARLINGTON, TEXAS — Marcus & Millichap has arranged the sale of Pantego Auto Center, a 36,910-square-foot retail center in Arlington. The center was fully leased at the time of sale to a mix of tenants that serve the automobile industry. Bill Jordan and Steven McClendon of Marcus & Millichap represented the seller, a private investor, in the transaction. Dimitri Jordan, Justin Miller and Davis Hansen, also with Marcus & Millichap, secured the buyer, a 1031 exchange investor.

July 15, 2019

Industrial Leasing Activity Texas

Defense Contractor Signs 12,000 SF Industrial Lease in Texarkana

by Taylor Williams July 15, 2019

TEXARKANA, TEXAS — Loc Performance Products, a Michigan-based defense contractor, has signed a 12,000-square-foot industrial lease at TexAmericas Center’s campus in Texarkana. The facility will provide kitting, assembly and machining services to the defense industry. Loc is in the process of hiring new employees to work at the facility.

July 15, 2019

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