Property Type

Monument Capital Acquires 216-Unit Multifamily Community in Eastern Tennessee

by Alex Tostado September 11, 2019

JOHNSON CITY, TENN. — Monument Capital Management has acquired Sterling Hills Apartment Homes, a 216-unit multifamily community in Johnson City. The buyer will implement a $2.3 million renovation plan to upgrade the property. Sterling Hills was built in 1980 and offers one-, two- and three-bedroom floor plans averaging 876 square feet. Communal amenities include a fitness center, basketball court, swimming pool, courtyard, grill and a picnic area. Located at 1 Milligan Lane, the property is situated five miles east of downtown Johnson City. Sterling Hills Apartments LLC sold the asset for an undisclosed price.

September 11, 2019

Development Multifamily Texas

Allied Orion Breaks Ground on 288-Unit Multifamily Project in Metro Houston

by Taylor Williams September 11, 2019

KATY, TEXAS — General contractor Allied Orion Group has broken ground on Territory at Greenhouse Apartments, a 288-unit multifamily project in the western Houston suburb of Katy. Developed by Dhanani Private Equity Group, the Class A community will be located near Houston Methodist Hospital, Texas Children’s Hospital and Cullen Park, as well as a multitude of dining, retail and entertainment options including LaCenterra in Cinco Ranch, City Centre, and Katy Mills Mall. Territory at Greenhouse’s units will feature one-, two- and three-bedroom units with stainless steel appliances, vinyl plank flooring and private balconies. Communal amenities will include a resort-style pool, fitness center, outdoor movie amphitheater, resident clubhouse and lounge, a business center and a dog park. Completion is slated for February 2020 and preleasing will begin this fall.

September 11, 2019

Acquisitions Multifamily Texas

West Shore Acquires 261-Unit Apartment Community in Bryan, Texas

by Taylor Williams September 11, 2019

BRYAN, TEXAS — Multifamily investment firm West Shore LLC has acquired Broadstone Traditions, a 261-unit residential community located in the Central Texas city of Bryan. Broadstone Traditions will be integrated into the adjacent 8085 at Traditions community, a 396-unit property owned and operated by West Shore since 2018. Units feature quartz or granite countertops, stainless steel appliances, full-size washing machines and dryers, walk-in closets, private patios or balconies and wine refrigerators and beverage centers in select units. Amenities include three pools with cabanas and sun decks, three fitness centers, outdoor kitchens and grilling stations, an outdoor putting green, three dog parks with pet washing stations, two business centers with private conference rooms and complimentary Starbucks coffee bars.

September 11, 2019

Data Centers Development Industrial Texas

Aligned Energy to Develop 360,000 SF Data Center in Dallas

by Taylor Williams September 11, 2019

DALLAS — Aligned Energy, a data center developer and operator, will build a 360,000-square-foot colocation facility in Dallas. The project represents an expansion of the company’s 19-acre DFW-01 campus and will increase the development’s critical power capacity by eight megawatts. Construction is underway and is expected to be complete by late November.

September 11, 2019

Development Retail Texas

Weitzman to Renovate Target-Anchored Shopping Center in Irving

by Taylor Williams September 11, 2019

IRVING, TEXAS — Weitzman will renovate Irving Towne Center, a 240,000-square-foot retail center located at the intersection of State Highway 183 and North Belt Line Road in Irving. Originally built in 1986 and anchored by Target, the center houses tenants such as Tuesday Morning, On The Border and Anytime Fitness. Hodges & Associates is the architect for the renovation project, which is expected to begin in late 2019 or early 2020 and to be complete by the end of 2020.

September 11, 2019

Acquisitions Office Texas

NAI Robert Lynn Arranges Sale of 47,280 SF Office Building in Metro Dallas

by Taylor Williams September 11, 2019

FARMERS BRANCH, TEXAS — NAI Robert Lynn has arranged the sale of Midway Crowne Center, a 47,280-square-foot office building located at 14240 Midway Road in Farmers Branch, a northern suburb of Dallas. A California-based partnership sold the asset to Twinrose Investments for an undisclosed price. Jim Hancock and Chad Albert with NAI Robert Lynn handled the sale with Cullen Dickey of Dickey Property Co.

September 11, 2019

Acquisitions Industrial Northeast Pennsylvania

Novaya Foxfield Buys 20 Acres of Land for Industrial Development in Elizabethtown, Pennsylvania

by Alex Patton September 11, 2019

ELIZABETHTOWN, PA. — Novaya Foxfield Industrial (NFI) has purchased 20 acres in Elizabethtown, located about 75 miles north of Baltimore. NFI is currently developing two industrial warehouses totaling 200,000 square feet on the site. The buildings will feature concrete panel construction and 32-foot clear heights. The property will be located within the 3.5 million-square-foot Conewago Industrial Park, which houses several large warehouse and industrial tenants. NFI expects to complete construction by the end of 2019.

September 11, 2019

Loans New Jersey Northeast Retail

Cushman & Wakefield Arranges $72.5M Construction Loan for Retail Redevelopment in Roxbury, New Jersey

by Alex Patton September 11, 2019

ROXBURY, N.J. — Cushman & Wakefield has arranged a $72.5 million construction loan for the redevelopment of The Shops at Ledgewood Commons, a retail center in Roxbury, located about 40 miles west of New York City. Santander Bank provided the loan, exact terms of which were undisclosed. The borrower, Advance Realty Advisors, plans to reposition the former enclosed mall into an open-air retail center. John Alascio, Sridhar Vankayala, T.J. Sullivan and Zachary Kraft of Cushman & Wakefield arranged the loan.

September 11, 2019

Acquisitions Industrial New York Northeast

Woodmont Industrial Acquires 130,565 SF Industrial Property on Long Island

by Alex Patton September 11, 2019

LONG ISLAND, N.Y. — Woodmont Industrial Partners has acquired 100 Precision Drive, a 130,565-square-foot industrial property on Long Island. Built in 2002, the single-story property features 25-foot clear heights and 325 parking spaces and is located less than a half mile from I-495. Woodmont Industrial will upgrade the building with a new sprinkler system, new roof, LED lighting and dock doors.

September 11, 2019

Acquisitions Industrial New Jersey Northeast

CBRE Brokers $17.9M Sale of Industrial Property in Northvale, New Jersey

by Alex Patton September 11, 2019

NORTHVALE, N.J. — CBRE has brokered the $17.9 million sale of an industrial property in Northvale, a northern suburb of New York City. Built in 1970, the 207,000-square-foot property features 18-foot ceiling heights, 20 loading docks and 17,178 square feet of office space. Elli Klapper and Charles Berger of CBRE represented the buyer, Treetop Development, in the transaction. Kevin Dudley, Geoffrey Schubert and Justin Passaretti, also with CBRE, represented the seller, Vale 521 LLC.

September 11, 2019

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