Property Type

Triple Five Group Launches 180,000 SF Big Snow Slope at American Dream in New Jersey

by Alex Patton December 9, 2019

EAST RUTHERFORD, N.J. — Triple Five Group has opened Big Snow, a 180,000-square-foot indoor snow slope within its American Dream entertainment and retail destination in East Rutherford, a western suburb of New York City. The 16-story vertical slope offers indoor skiing, snowboarding, sledding and other snow activities year-round. The facility will produce 4.4 tons of snow per hour, which will be kept at a constant temperature of 28 degrees with an average depth at 2 feet. Triple Five opened American Dream in late October with a Nickelodeon Universe theme park and an ice skating rink. The Dreamworks Water Park opened at American dream in late November, and future openings include a Legoland Discover Center, a Sea Life Aquarium and more than 100 retailers and restaurants.

December 9, 2019

Development Massachusetts Multifamily Northeast

Lotus Harvard Completes 16-Unit Apartment, Retail Project in Cambridge, Massachusetts

by Alex Patton December 9, 2019

CAMBRIDGE, MASS. — Lotus Harvard Enterprises LLC has completed development of 1699 Massachusetts Avenue, a 16-unit apartment building with 1,600 square feet of ground-floor retail space that is located adjacent to Harvard Law School in Cambridge. The property offers two studios, eight one-bedrooms, five two-bedrooms and three two-bedroom units, as well as an adjoining five-bedroom single-family home. Khalsa Design was the architect of the project and Nauset Construction was the general contractor.

December 9, 2019

Industrial Leasing Activity Texas

Shaffer Sports Signs 125,000 SF Industrial Lease in Houston, to Relocate from Alabama

by Taylor Williams December 9, 2019

HOUSTON — Shaffer Sports & Events, which provides furniture and tents for sporting events, has signed a 125,000-square-foot industrial lease at 10901 Tanner Road in Houston. The space will serve as the company’s primary warehouse and office headquarters following its relocation from Birmingham, Ala. John Parsley, Gary Mabray and Judd Harrison of Colliers International represented Shaffer Sports in the lease negotiations. David Boyd, Greg Barra and Wes Williams of Boyd Commercial represented the landlord, Exeter 10901 Tanner LP. The sister company of Shaffer Sports, Aztec Events & Tents, also signed a 125,697-square-foot industrial lease renewal in Houston. The Colliers team represented Aztec in its lease negotiations as well.

December 9, 2019

Industrial Leasing Activity Texas

Waterlogic Signs 111,012 SF Industrial Lease at Prologis Freeport Corporate Center in Dallas

by Taylor Williams December 9, 2019

DALLAS — Waterlogic, a provider of purified bottle-less water dispensers, has inked a deal to occupy 111,012 square feet of light manufacturing and distribution space at Prologis Freeport Corporate Center in Dallas. The company expects to take occupancy in early 2020. Caleb McCoy and Matt Bracco of JLL represented Waterlogic in the lease negotiations. Michael Flowers represented the landlord, Prologis on an internal basis.

December 9, 2019

Acquisitions Retail Texas

JLL Negotiates Sale of 63,231 SF Retail Property in Amarillo

by Taylor Williams December 9, 2019

AMARILLO, TEXAS — JLL has negotiated a 63,231-square-foot retail property in Amarillo. The property sits on 5.1 acres and formerly housed a grocer. Michael Meaden of JLL represented the sellers, MAL Enterprises Inc. and Super Market Developers Inc., in the transaction. Zach Ballenger of CBRE represented the buyer, STORE Capital.

December 9, 2019

Acquisitions Office Texas

JRV Heating & Cooling Buys 5,077 SF Office Building in Metro Dallas

by Taylor Williams December 9, 2019

ALLEN, TEXAS — JRV Heating & Cooling LLC has purchased a 5,077-square-foot office building located at 720 E. Main St. in Allen, a northeastern suburb of Dallas. The sale includes approximately one acre of land. Scott Axelrod of Henry S. Miller Brokerage represented the seller, Tom Brian DDS, a local dentist office, in the transaction.

December 9, 2019

Development Industrial Northeast Rhode Island

Gotham Greens Opens 100,000 SF Greenhouse in Providence, Rhode Island

by Alex Patton December 9, 2019

PROVIDENCE, R.I. — Brooklyn-based agricultural company Gotham Greens has opened a 100,000-square-foot greenhouse in Providence. The project is located along the Woonasquatucket River, at the site of a former General Electric lighting factory. The new urban farm will provide fresh produce to local restaurants and grocery stores, including Whole Foods Market, and will host educational programming about sustainable agriculture. Gotham Greens expects to create approximately 60 full-time jobs in Rhode Island and has committed to donating more than 5,000 pounds of fresh produce to the Rhode Island Food Bank during the winter season.

December 9, 2019

Leasing Activity New York Northeast Retail

Yard House Signs 19,000 SF Retail Lease at 10 Times Square in Manhattan

by Alex Patton December 9, 2019

NEW YORK CITY — American sports bar chain Yard House has signed a 19,000-square-foot retail lease at 10 Times Square in Manhattan. The restaurant will occupy the entire first and second floors of the building as well as a lower-level space with frontage on Seventh Avenue and West 41st Street. Originally built as the Bricken Textile Building in 1930, the 575,000-square-foot building houses tenants including the offices of apparel retailer One Jeanswear Group Inc, Wellspring Philanthropic Fund and marketing company Digital Remedy. The landlord, L.H. Charney Associates, was self-represented in the lease negotiations.

December 9, 2019

Arizona Development Multifamily Seniors Housing Western

Desert Land, Civitas Senior Living Break Ground on 210,572 SF Bluffs of Flagstaff in Arizona

by Amy Works December 9, 2019

FLAGSTAFF, ARIZ. — Arizona real estate developer Desert Land Group and Texas-based senior living management company Civitas Senior Living have started construction on their newest senior living boutique project, The Bluffs of Flagstaff. Totaling approximately 210,572 square feet, the community will feature 120 independent living, 66 assisted living and 18 memory care apartments. The Bluffs of Flagstaff is scheduled for completion in fall 2021. The architect for the project is Kaas Wilson, with Greenberg Construction as general contractor. Senior By Design is providing additional design services.

December 9, 2019

Acquisitions Arizona Multifamily Western

Origin Investments, Randolph Street Acquire 80-Unit Multifamily Asset in Downtown Phoenix

by Amy Works December 9, 2019

PHOENIX — A joint venture between Chicago-based firms Origin Investments and Randolph Street Realty Capital has purchased Union @ Roosevelt, a multifamily community in downtown Phoenix. The joint venture plans to more than double the size of the five-story property, which features nine studio units, 60 one-bedroom units and 11 two-bedroom units with an average size of 830 square feet. At the time of acquisition, the 80-unit community was 95 percent leased. The asset also includes 9,100 square feet of retail space, which is currently 33 percent leased to Fatty Daddy Ice Cream and Genuine Wine Bar. The remaining 6,100-square-foot retail space is divisible to two spaces between 2,900 square feet and 3,200 square feet. The second phase of the development will add additional units and community amenities, which will provide the level of development for compliance with the current Opportunity Zone requirements for the project. Additionally, the expansion will add supplemental amenities for the existing units. Constructed is slated to begin during the second quarter of 2020. New units are scheduled to be available in early 2022. Randolph Street will serve as the operating partner and developer of the second phase.

December 9, 2019

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