Property Type

North American Properties Reveals First Retailers Joining $900M Mixed-Use Development in Metro Atlanta

by Alex Tostado August 23, 2019

DULUTH, GA. — North American Properties (NAP) has revealed its first retail tenant lineup at Revel, its $900 million, Infinite Energy Center-anchored mixed-use development in Duluth. The first nine tenants announced at the Gwinnett County project include Superica, a Tex-Mex restaurant run by restaurateur Ford Fry; Regal Cinemas; The Painted Pin, which will be the second location for the bowling, entertainment and bar concept; JINYA Ramen Bar; American Barber; Secreto, chef Boyd Rose’s concept serving Southern cuisine; The Local Expedition Wood Fired Grill; Maker’s Coffee & Wine; and Honeysuckle Gelato. The development will span 118 acres and will offer 300,000 square feet of curated retail, dining and entertainment; 650,000 square feet of office space; a 340-room, 4-star hotel; 900 single-family and multifamily residences; and 275,000 square feet of community greenspace. NAP is also redeveloping Infinite Energy Center, which includes Infinite Energy Arena, Forum and Theater. NAP is developing Revel through a public-private partnership with the Gwinnett County Convention and Visitors Bureau. A timeline for completion was not disclosed.

August 23, 2019

Loans Multifamily Seniors Housing Texas

CBRE Arranges $55.5M Loan for Refinancing of Seniors Housing Community in Houston

by Taylor Williams August 23, 2019

HOUSTON — CBRE has arranged a $55.5 million loan for the refinancing of The Village of River Oaks, a Class A, 198-unit continuing care retirement community (CCRC) in Houston. The borrower was a joint venture between Bridgewood Property Co. and Harrison Street. A national bank provided the loan, which features a four-year term, floating interest rate and 30 months of interest-only payments. Aron Will, Austin Sacco and Adam Mincberg of CBRE National Senior Housing arranged the transaction. CBRE also arranged the development financing for the property in 2015. Retirement Center Management, Bridgewood’s wholly owned management affiliate, will continue to operate the property.

August 23, 2019

Industrial Leasing Activity Texas

Lighting, Electrical Contractor Signs 72,900 SF Industrial Lease in Irving

by Taylor Williams August 23, 2019

IRVING, TEXAS — Facility Solutions Group Inc., an Austin-based provider of lighting, electrical and energy management products, has signed a 72,900-square-foot industrial lease at 2800 Valley View Lane in Irving. According to LoopNet Inc., the property was built in 2018 and totals 294,795 square feet. Jeremy Kelly and Sarah Ozanne of Stream Realty Partners represented the landlord, Alpha Industrial Properties, in the transaction. NAI Robert Lynn represented the tenant.

August 23, 2019

Industrial Leasing Activity Texas

NKF Negotiates 40,648 SF Industrial Lease Renewal in Houston

by Taylor Williams August 23, 2019

HOUSTON — Newmark Knight Frank (NKF) has negotiated a 40,648-square-foot industrial lease renewal at Eastwood Industrial Park, located at 4545 Eastpark Drive in Houston. Griffin Rich of NKF represented the tenant, Tri Star Freight Systems, Inc., in the lease negotiations. The representative of the landlord, Kadiwal Investments LP, was not disclosed.

August 23, 2019

Acquisitions Retail Texas

Marcus & Millichap Closes Sale of 8,144 SF Retail Property in Houston

by Taylor Williams August 23, 2019

HOUSTON — Marcus & Millichap has closed the sale of Bellaire Town Center, an 8,144-square-foot retail center located at 13438 Bellaire Blvd. in Houston. Gus Lagos and Alex Wolansky of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The buyer was not disclosed.

August 23, 2019

Acquisitions Retail Texas

EDGE Realty Brokers Sale of 4,800 SF Strip Retail Center in Metro Houston

by Taylor Williams August 23, 2019

SPRING, TEXAS — EDGE Realty Capital Markets has brokered the sale of Meadows Edge Shopping Center, a 4,800-square-foot strip retail property located along Interstate 45 in the northern Houston suburb of Spring. Shadow-anchored by Lowe’s Home Improvement, the property was fully leased at the time of sale to tenants such as Sprint, Leslie’s Pool Supplies, Lenny’s Grill & Subs and Paradise Grills. Burdette Huffman and Josh Jacobs of EDGE represented the seller, 20141 North Freeway LLC, in the transaction. Sam Affanhe of Hunington Properties represented the buyer.

August 23, 2019

Acquisitions Massachusetts Northeast Retail

Marcus & Millichap Negotiates $58M Sale of Retail Center in Attleboro, Massachusetts

by Alex Patton August 23, 2019

ATTLEBORO, MASS. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $58 million sale of Bristol Place, a retail center located about 30 miles south of Boston. At the time of sale, the property was 88 percent leased to tenants including Market Basket, Home Depot and Hobby Lobby. Joseph French, Glen Kunofsky, Thomas Dalzell, Russell Wachtler of IPA represented the undisclosed seller in the transaction. French procured the buyer, a joint venture between a Boston-based private real estate firm and an institutional investor.

August 23, 2019

Loans Multifamily New Jersey Northeast

JLL Arranges $43M in Refinancing for Multifamily Property in Morris Plains, New Jersey

by Alex Patton August 23, 2019

MORRIS PLAINS, N.J. — JLL has arranged $43 million for the refinancing for Signature Place, a 197-unit multifamily community in Morris Plains, a city located about 30 miles east of New York City. Nationwide Life Insurance Co. provided the loan, which carries a fixed interest rate and a five-year term. Loan proceeds retired the existing construction loan. Signature Place offers one-, two- and three-bedroom units, with amenities including a fitness center, walking trail and tennis courts. Jon Mikula, Greg Nalbandian, Andrew Zilenziger and Carlos Silva of JLL arranged the loan on behalf of the borrower, New Jersey-based developer Roseland Residential Trust.

August 23, 2019

Development New York Northeast Retail

Whole Foods to Open 60,000 SF Store in Manhattan

by Alex Patton August 23, 2019

NEW YORK CITY — Whole Foods Market will open a 60,000-square-foot store within 63 Madison Avenue, a 15-story office building in Manhattan. The store will occupy 10,000 square feet on the ground floor of the building and 50,000 square feet on the second floor. The building owner, a partnership between George Comfort & Sons, Jamestown and Loeb Partners Realty, plans to renovate the first and second floors with glass walls and a new lobby. The time frame of the construction was not specified. Peter Duncan, Matt Coudert and Alex Bermingham of represented the landlord on an internal basis in the lease negotiations.

August 23, 2019

Industrial Leasing Activity New Jersey Northeast

NAI Hanson Negotiates 31,550 SF Industrial Lease in Saddle Brook, New Jersey

by Alex Patton August 23, 2019

SADDLE BROOK, N.J. — NAI Hanson has negotiated a 31,550-square-foot industrial lease for Leco Plastics Inc. in Saddle Brook, a western suburb of New York City. The building features 5,000 square feet of office space and 20-foot ceiling heights. Steven Leitner and Scott Perkins of NAI Hanson represented the landlord, Wilbur ’96 LLC, in the lease negotiations. Dean Brody of JLL represented Leco.

August 23, 2019

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