Property Type

InterFace Brokerage Panel: Phoenix Industrial ‘Moving Up the Food Chain’

by Jaime Lackey September 21, 2018

The InterFace Phoenix Industrial conference and networking event was held on Wednesday, Sept. 12, featuring three panel discussions. The brokerage panel, moderated by Rob Martensen, executive vice president with Colliers International, featured a lively discussion about activity in local submarkets and a recap of the reasons Phoenix is winning deals over Southern California and Nevada. Industrial Activity in Arizona Microsoft recently purchased 267 acres for a data center in the West Valley, said Anthony Lydon, national director, Industrial Supply Chain & Logistics Solutions with JLL. Qualified data centers receive waivers on personal property tax for 10 years, Lydon said, noting that each rack in a data center is approximately $1 million in personal property, so data centers are certainly enjoying the benefits of locating in Arizona. Arizona will also be a huge winner in the manufacturing sector, Lydon added. He cited Colorado-based food packaging provider Ball Corp. as an example of a company that was looking at Mexico for space before the 2016 election but has since opened a plant in the West Valley submarket of Phoenix due to the strategic location between Mexico and Southern California. Minnesota-based Andersen Windows & Doors is buying 64 acres from Opus to build …

September 21, 2018

Acquisitions Massachusetts Northeast Office

Colliers Secures $79.8M Acquisition Financing for Office Campus Near Boston

by David Cohen September 21, 2018

WALTHAM, MASS. — Colliers International has secured $79.8 million in acquisition financing for CenterPoint, a 443,000-square-foot, two-building office campus in Waltham. Located at 41 Seyon Street and 43 Foundry Ave., the property includes lab, office and research and development space. Current tenants include Repligen, Education Development Center and Simpson Gumpertz & Heger. Adam Coppola, Thomas Welch, John Poole and Tonia Jenkins of Colliers secured financing on behalf of borrower Hilco Real Estate through a balance sheet lender.

September 21, 2018

Acquisitions Multifamily Student Housing Texas

CBRE Negotiates Sale of 464-Bed Student Housing Property in Austin

by Taylor Williams September 21, 2018

AUSTIN, TEXAS — CBRE has negotiated the sale of Aspen Heights West Campus, a 464-bed student housing property located three blocks from the University of Texas at Austin. The 17-story, 166-unit community features a pool, fitness center, private study areas, lounges and community kitchens. A joint venture between The Preiss Co. and TH Real Estate purchased the asset from Austin-based Aspen Heights Partners, which developed the property, for an undisclosed price. Jaclyn Fitts, William Vonderfecht, Casey Schaefer, Charles Cirar, Michael Wardlaw and Colin Cannata of CBRE brokered the sale. Ben Roelke and Ian Walker of CBRE arranged a five-year, fixed-rate acquisition loan through Northwestern Mutual for the transaction. The loan featured a sub-4 percent interest rate.

September 21, 2018

Acquisitions Northeast Office Pennsylvania

Cushman & Wakefield Brokers $32M Sale of Office Portfolio Near Philadelphia

by David Cohen September 21, 2018

COLLEGEVILLE, PA. — Cushman & Wakefield has brokered the $32 million sale of Highview I & II, a 183,363-square-foot office portfolio in Collegeville. The two buildings, which are currently 93 percent leased, are home to tenants IQVIA, Fidelity Information Services and FirstService Residential. Highview I is located at 400 Campus Drive and totals 78,564 square feet. Highview II is located at 200 Campus Drive and totals 104,799 square feet. Cushman & Wakefield represented the seller, TA Realty, in the transaction. The buyer was Maguire Hayden Real Estate Co. Collegeville is 30 miles northwest of Philadelphia.

September 21, 2018

Development Office Texas

Stonelake Capital to Build 200,000 SF Spec Office Project in Houston

by Taylor Williams September 21, 2018

HOUSTON — Stonelake Capital Partners, a real estate private equity firm with offices in Dallas, Houston and Austin, will build a 200,000-square-foot speculative office project located at 4200 Westheimer Road in the River Oaks/Highland Village area of Houston. Stonelake expects to break ground on the 15-story, Class A property, which is part of Phase III of the company’s Park Place | River Oaks mixed-use development, in January 2019. The office space is expected to be available for occupancy in spring 2020. Colvill Office Properties is marketing and leasing the asset.

September 21, 2018

Acquisitions Industrial New Hampshire Northeast Self-Storage

Skyview Advisors Negotiates Sale of 419-Unit Self-Storage Facility in New Hampshire

by David Cohen September 21, 2018

LONDONDERRY, N.H. —Skyview Advisors has negotiated the sale of Life Storage, a 419-unit self-storage facility in Londonderry. The sales price was undisclosed. Ryan Clark and Parker Sweet of SkyView Advisors represented the undisclosed seller. Located at 6 Smith Lane, Life Storage is situated on more than 5 acres and has a total of 50,466 net rentable square feet. The facility includes 246 climate-controlled units and 173 non-climate controlled units.

September 21, 2018

Leasing Activity Massachusetts Northeast Retail

New England Development Signs Planet Fitness, Burlington to Westgate Mall in Massachusetts

by David Cohen September 21, 2018

BROCKTON, MASS.— New England Development has signed Planet Fitness and Burlington to Westgate Mall in Brockton, a city 25 miles south of Boston. Burlington will open a 43,000-square-foot location store at the mall, creating 50 to 100 new jobs. Planet Fitness typically operates 20,000-square-foot clubs, according to the company’ s website. Both tenants are scheduled to open at the mall this month. The new retailers join recently opened stores such as Chipotle Mexican Grill, Staples, Verizon and XFINITY Store by Comcast. Additional tenants at Westgate Mall include Sears, Best Buy, Bath & Body Works, Famous Footwear, Old Navy, Victoria’s Secret, Buffalo Wild Wings and IHOP.

September 21, 2018

Loans Multifamily Texas

LMI Capital Arranges Two Multifamily Loans Totaling $49M in Houston

by Taylor Williams September 21, 2018

HOUSTON — LMI Capital, a Real Estate Capital Alliance (RECA) member, has arranged two multifamily loans totaling $49 million in Houston. In the first transaction, Brandon Brown of LMI Capital arranged a $26 million acquisition loan for a 460-unit asset in the Briar Forest/Westchase area. The loan features a 4.82 percent fixed interest rate and seven years of interest-only payments. In the second deal, Jamie Mullin of LMI Capital arranged a $23 million loan for the refinancing a 360-unit property in the Woodlake/Briar Meadow submarket. That loan includes a 4.85 percent fixed interest rate and a four-year interest-only period. The names of the properties were not disclosed.

September 21, 2018

2700-Research-Forest-Drive-The-Woodlands

Acquisitions Office Texas

J. Beard Brokers Sale of 74,940 SF Office Building in Metro Houston

by Taylor Williams September 21, 2018

THE WOODLANDS, TEXAS — The J. Beard Real Estate Co. has brokered the sale of a 74,940-square-foot office building located at 2700 Research Forest Drive in The Woodlands, about 30 miles north of Houston. The property was 100 percent leased at the time of sale to eight tenants. SJBC Commercial XIX LLC purchased the property from Dallas-based Novel Office Systems/Soft-Tech SM for an undisclosed price. Jeff Beard of J. Beard brokered the sale.

September 21, 2018

Acquisitions Multifamily Texas

Greysteel Negotiates Sale of 154-Unit Apartment Property in Irving

by Taylor Williams September 21, 2018

IRVING, TEXAS — Greysteel has negotiated the sale of Rock Island, a 154-unit apartment property in Irving. Floor plans at the property, which was built in 1973, include one-, two- and three-bedroom units. Doug Banerjee, Boyan Radic, Andrew Mueller, Andrew Hanson, Scott Simon and Jack Stone of Greysteel represented the seller in the transaction. Other terms of sale were not disclosed.

September 21, 2018

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