Property Type

Cushman & Wakefield Brokers $12M Sale of Benicia Industrial Park in California

by Amy Works September 25, 2018

BENICIA, CALIF. — Cushman & Wakefield has arranged the sale of Benicia Industrial Park in South Solano County. Benicia Partners sold the property to Sarkissian Trust for $12 million. Located at 5500 E. Second St. in Benicia, the property features 63,108 square feet of flex and R&D space. At the time of sale, Bio-Rad Laboratories fully occupied the building. Brooks Pedder, Douglas Longyear and Tony Binswanger of Cushman & Wakefield’s Walnut Creek, Calif., and San Francisco offices represented the buyer and seller in the deal.

September 25, 2018

Loans Retail Washington Western

Newmark Arranges $5M Loan for 22,367 SF Retail Property in Spokane, Washington

by Amy Works September 25, 2018

SPOKANE, WASH. — Newmark has arranged $5 million in permanent financing for the Village at Regal Pond, a retail property located in Spokane’s Inland Northwest submarket. The multi-tenant property features 22,367 square feet of retail space. Demetri Koston and Skip Slavin of Newmark’s Seattle office secured the non-recourse financing with one of Newmark’s correspondent life companies. Newmark will service the 20-year, fully amortizing loan at no additional cost to the undisclosed borrower.

September 25, 2018

Market Reports Nevada Office Western Western Market Reports

Office Trends Toward Creative, Collaborative in Las Vegas

by Taylor Williams September 25, 2018

Some of the larger companies with long-term growth forecasts are focusing on expansion and amenity-rich office environments for recruiting purposes. However, more people in less space continues to be the trend for companies with slower growth opportunities that are focused on efficiencies and overhead costs. The average standard amount of office space per employee dropped from 225 square feet per person to between 150 square feet and 175 square feet per person in the past couple years. That being said, occupancy cost is not always the main driver in choosing an office location. There seems to be much more emphasis now on quality, functionality and conveniences. In many cases, this is based more on how we work rather than just cost savings. Open work spaces, perks like on-site dining and retail, and providing collaborative environments that foster employee interaction have proven to increase employee productivity significantly. Design is a critical component of this type of work space. Companies are looking for workplace designs and furniture systems that offer flexibility and adaptability as technology evolves. Technological infrastructure enhances the culture and efficiency of a business and protects the security of a company’s trade information. It also saves resources like …

September 25, 2018

Development Industrial Texas Top Stories

Coca-Cola Bottler to Break Ground on $250M Plant in Houston

by John Nelson September 25, 2018

HOUSTON — Coca-Cola Southwest Beverages (CCSWB), a Dallas-based subsidiary of Mexican Coca-Cola bottler Arca Continental, is breaking ground today on its new $250 million production and distribution facility in Houston. The new facility will be the first new Coca-Cola plant built in the United States in a decade. Situated within Pinto Business Park, the 1 million-square-foot facility will include manufacturing with five new production lines, distribution, warehouse and sales. Pinto Business Park is a Hines-owned campus spanning 971 acres in northwest Houston. “Coca-Cola has been a part of the greater Houston community for more than 100 years,” says Mark Schortman, president and CEO of CCSWB. “Since opening our first facility in 1902, consumer dynamics have changed and the population in the Houston metro area has increased tremendously. We need to expand and grow our production facility to invest in the future and provide our wide variety of beverages.” In May, after a little over a year of becoming the first Latin American bottler to operate within the U.S. Coca-Cola network, Arca Continental announced the new facility, which is one of the largest current capital investments in Texas by a Mexican company. “The projected investment for this facility reflects our long-term …

September 25, 2018

Conference Coverage Features Georgia Multifamily Seniors Housing Southeast Southeast Feature Archive

Seniors Housing Development Costs Dictate Market Entry, Says InterFace Panel

by Kristin Harlow September 25, 2018

ATLANTA — The pace of seniors housing development has accelerated sharply in recent years. Approximately 396 seniors housing properties came online or opened in the top 100 metro areas in the country from the fourth quarter of 2016 to the fourth quarter of 2017, according to data from Plante Moran Living Forward, a senior living development consulting firm. During the two years prior, about 596 communities opened. What’s more, approximately 65 percent of those newly added properties were from operators that only had two or fewer properties, according to Dana Wollschlager, practice leader for the firm and moderator of the development panel at the 2018 InterFace Seniors Housing Southeast conference. The significant number of developments and new entrants to the seniors housing space were major discussion points for the panel, which took place on Wednesday, Aug. 29 at the Westin Buckhead in Atlanta. The one-day conference drew nearly 520 developers, lenders, investors and operators in the senior living space. Joining Wollschlager on the panel were Richard Ackerman, managing partner of Big Rock Partners; Jeff Arnold, chief operating officer of United Group of Cos.; Blanding Beatty, chief investment officer of Traditions Senior Living; Andy Isakson, managing partner of Isakson Living; and …

September 25, 2018

Affordable Housing Loans Multifamily New Jersey Northeast

KeyBank Provides $98.4M in Financing for Two Affordable Housing Properties in Newark

by David Cohen September 24, 2018

NEWARK, N.J. — KeyBank has provided $98.4 million Fannie Mae loan for the acquisition and rehabilitation of two affordable housing properties in Newark. The properties are Garden Spires Apartments, a 544-unit affordable housing complex built in 1963 and Spruce Spires Apartments, a 112-unit subsidized housing property built in 1920. Dirk Falardeau and Kyle Kolesar of KeyBank arranged the financing for borrower, Omni New York LLC. The financing breaks down in the following manner: a $59 million Fannie Mae Reduced Occupancy Affordable Rehab loan; a $23.8 million Economic, Redevelopment and Growth (ERG) bridge loan secured by Garden Spires Apartments; and a $15.6 million Fannie Mae Affordable Mortgage loan secured by Spruce Spires Apartments. Both properties will undergo rehabilitation, including renovating lobby areas, replacing and upgrading building mechanics, modernizing elevators, installing new roofs and doors, improving common areas and replacing boilers.

September 24, 2018

Loans Massachusetts Northeast Office

HFF Secures $30M Refinancing for Office Portfolio Near Boston

by David Cohen September 24, 2018

BURLINGTON, MASS. — HFF has secured a $30 million refinancing for Blanchard Woods, a three-building office portfolio in Burlington. HFF represented the borrower, Duffy Properties, in securing an 11-year, fixed-rate loan through Nationwide Life Insurance Co. Blanchard Woods is located at 76, 78 and 80 Blanchard Road, approximately 13 miles north of Boston. The portfolio spans 194,421 square feet and is 91 percent leased to 19 tenants, including anchor tenant Cambridge Trust.

September 24, 2018

Acquisitions New Hampshire Northeast Retail

NKF Capital Markets Brokers Sale of 81,317 SF Retail Property in New Hampshire

by David Cohen September 24, 2018

WEST LEBANON, N.H. — NKF Capital Markets has brokered the sale of Powerhouse Plaza, an 81,317-square-foot retail property in West Lebanon. The sales price was undisclosed. Justin Smith of NKF Capital Markets represented the seller, Eastern Real Estate, in the transaction. The buyer was Jaffe Corp. The tenant roster at the property includes Shaw’s supermarket, Rite Aid, New Hampshire Liquor & Wine Outlet and 99 Restaurant & Pub.

September 24, 2018

Acquisitions Industrial New Jersey Northeast

JLL Negotiates $3.6M Sale of Flex Facility in Somerset, New Jersey

by David Cohen September 24, 2018

SOMERSET, N.J. — JLL has negotiated the $3.6 million sale of a 41,000-square-foot flex facility in Somerset. Located at 21 Worlds Fair Drive, the property includes 11,215 square feet of office space. The warehouse portion of the facility features 18-foot ceiling heights, five loading docks and one drive-in door. Chad Hillyer and Brian Golden of JLL represented the buyer, The Silverman Group, in the transaction. The seller was undisclosed. JLL will serve as leasing agents for the building.

September 24, 2018

Acquisitions New Jersey Northeast Retail

Marcus & Millichap Arranges $4M Sale of Retail Property in New Jersey

by David Cohen September 24, 2018

PATERSON, N.J. — Marcus & Millichap has arranged the $4 million sale of Madison Avenue Shopping Center, a 26,920-square-foot retail property in Paterson. The property is located at 422-446 Madison Ave. Ben Sgambati, Alan Cafiero and John Moroz of Marcus & Millichap represented the buyer, a private investor, in the transaction. The seller was also a private investor.

September 24, 2018

Newer Posts

Older Posts