MCALLEN, TEXAS — Gleco Plating Inc. has acquired a 54,000-square-foot industrial building located at 3800 W. Ursula Ave. in the South Texas city of McAllen. The Rowlett, Texas-based company will occupy 34,000 square feet of the building. Carlos Telles of CBRE represented Gleco in the acquisition and is marketing the remaining 20,000 square feet for lease. Daniel Galvan of Coldwell Banker represented the seller, Goldman Family Management Trust.
HOUSTON — EDGE Realty Capital Markets has brokered the sale of a 22,423-square-foot office building located at 3808 World Houston Parkway in Houston 8. The property was built in 1999 on 2.8 acres and is located near several major thoroughfares, including Interstate 45 and Beltway 8. Micha Van Marcke and Chace Henke of EDGE represented the seller in the transaction. Other terms of sale were not released.
ATTLEBORO, MASS. — A joint venture between Unison Realty Partners and Argosy Real Estate Partners has acquired Bristol Place, a 421,680-square-foot shopping center in Attleboro. Anchored by Market Basket, Bristol Place is situated at the interchange of I-95 and Route 1A, eight miles north of downtown Providence. Built in 1993 and renovated in 2013, Bristol Place is home to a number of other tenants, including Home Depot, Party City, Bob’s Discount Furniture, Hobby Lobby and TJ Maxx. The joint venture tapped The Wilder Cos. as the property manager and leasing agent for the center. This assignment marks the seventh retail property in the Northeast that Wilder manages on behalf of Unison. The seller and sales price were not disclosed.
MOORESTOWN, N.J. — CBRE has arranged the sale of 550 Glen Avenue and 600 Glen Court, a 187,569-square-foot light industrial portfolio in Moorestown, located east of Philadelphia across the Delaware River. The two properties were built in the late 1970s and include warehousing and distribution capacities. The buildings’ location near I-295 and the New Jersey Turnpike puts them in close proximity to both the Philadelphia and New York City areas. Michael Hines, Brad Ruppel and Brian Fiumara of CBRE represented the seller, an affiliate of Endurance Real Estate Group LLC. The trio also procured the undisclosed buyer in the transaction.
MINEOLA, N.Y. — Mill Creek Residential has begun leasing Modera Metro Mineola, a 192-unit apartment community on Long Island. The transit-served property offers studio, one- and two-bedroom units that feature stainless steel appliances, quartz countertops, custom cabinetry, tile backsplashes and key fob entry systems. Indoor amenities include two 24-hour fitness centers with yoga and Pilates studios, two indoor clubhouses with lounges, TVs and resident kitchens, a business center with a conference room, a coffee bar, pet spa and package concierge service. Outdoor amenities include a pool, sun deck, grilling area and kitchen and a lounge. The first units are expected to be available for occupancy in the coming weeks.
EATONTON, N.J. — Newmark Knight Frank (NKF) has negotiated the $32 million sale of a commercial property located at 250 Industrial Way in the eastern New Jersey city of Eatonton. The property houses 138,163 square feet of office and research-and-development space. The property was fully leased at the time of sale to communications systems supplier SubCom on a triple-net basis through 2024. Steven Schultz, Tony Georgiev, Adam Silver and Ben Greazel of NKF represented the seller in the transaction.
NEW YORK CITY — Exact Capital, a locally based finance and development firm, has completed the renovation and preservation of 333 affordable housing units spread across 19 buildings in The Bronx. As part of the project, the developer also renovated four retail spaces located within those properties, all of which rise between two and seven stories. Exact Capital partnered with Shepherd Restoration Corp. on the project, which enhanced roofs, refreshed common areas and upgraded kitchens and bathrooms. TD Bank provided financing for the project in conjunction with the New York City Department of Housing Preservation & Development and Community Preservation Corp.
MINNEAPOLIS — RSM, a provider of audit, tax and consulting services, has unveiled plans to expand and renovate its office space at RSM Plaza in downtown Minneapolis. RSM currently occupies 115,000 square feet across five floors and will increase its footprint to just over 125,000 square feet. The firm will fully renovate its space, with completion of the upgrades slated for late 2020. RSM’s new lease coincides with the recent completion of a $10 million renovation to RSM Plaza, which is located on the corner of 8th Street and Nicollet Mall. The building now offers enhanced skyway connections, a new lobby, common areas, fitness facility and conference center. Upscale steakhouse 801 Chophouse will open in the retail space adjacent to the lobby later this year. A joint venture between Golub & Co. and Oaktree Capital owns RSM Plaza.
MONROVIA, IND. — Core5 Industrial Partners has begun development of a 1 million-square-foot industrial building within the Hendricks Gateway Park in Monrovia, about 25 miles southwest of Indianapolis. The building will be the first speculative industrial building in the market with a clear height of 40 feet. It is slated for completion in the second quarter of 2020. The development will offer parking for 663 cars and 251 trailers. Andrew Morris and Jeremy Woods of CBRE represented Core5 in the purchase of 76 acres of land for the project. The duo will also represent Core5’s leasing efforts for the new property. The project team includes GDI Construction, MacGregor Associates Architects and Structurepoint. Hendricks Gateway Park is currently home to DHL, Chewy.com, Johnson & Johnson and Geodis.
MORA, MINN. — Kraus-Anderson Construction Co. has completed a $52 million expansion of FirstLight Health System in Mora, about 75 miles north of Minneapolis. Designed by DSGW Architects, the renovation includes a new main entry and common area, eye clinic, lab, chemotherapy and radiology spaces, IT facilities, administration offices and gift shop. A two-story addition features a new rehabilitation area with a therapy pool, food-service kitchen, cafeteria and inpatient pharmacy. It also includes new units for births, medical surgeries and ICU. Another two-story addition features a new emergency department, community pharmacy, ambulance garage and fitness center. A separate one-story addition comprises clinical exam rooms. Exterior upgrades include new parking areas, relocation of the helipad and improved access from the highway. All hospital services were in full operation during the entire duration of the multi-phased, 25-month project. The original hospital was built in 1943, with additions completed in 1960, 1970, 1995, 2002 and 2007.
