Property Type

Douglas Development Buys Regional Mall Near Buffalo for $30.5M

by Taylor Williams July 16, 2019

AMHERST, N.Y. — Douglas Development Co. has purchased Boulevard Mall, a 961,800-square-foot shopping and dining destination in the Buffalo suburb of Amherst, for $30.5 million. The property was originally built in 1962 and is situated on 64 acres. The mall was renovated in 2000 and is now anchored by tenants such as Dick’s Sporting Goods and Macy’s. Jose Cruz, Kevin O’Hearn, Claudia Steeb, Michael Oliver and Ryan Robertson of JLL handled the transaction in conjunction with Ten-X on behalf of the undisclosed seller. JLL closed the sale, which included an adjacent, eight-acre tract that houses a 120,000-square-foot Wegmans grocery store and commanded a price of $6 million.

July 16, 2019

Development Industrial New Jersey Northeast Self-Storage

Homestake Capital, Harvestate Break Ground on 595-Unit Self-Storage Facility in Winslow, New Jersey

by Taylor Williams July 16, 2019

WINSLOW, N.J. — A partnership between two New Jersey-based investment firms, Homestake Capital LLC and Harvestate Group LLC, has broken ground on a 595-unit self-storage facility in Winslow, located outside Philadelphia. Extra Space Storage will operate the property, which will span 66,300 net rentable square feet and offer climate-controlled space. Completion is scheduled for January 2020.

July 16, 2019

Development New Jersey Northeast Retail

Graycor Completes 10-Screen Cinemark Theater in Watchung, New Jersey

by Taylor Williams July 16, 2019

WATCHUNG, N.J. — Graycor Construction has completed Cinemark Watchung and XD theater, a 10-screen venue in northern New Jersey. The 37,630-square-foot theater features luxury recliner seats and a private party room and is the first Cinemark theater to open in Somerset County. Beck Architecture designed the theater. Chicago-based Graycor will also build a 12-screen, 44,000-square-foot Cinemark Theatre within the Willowbrook Mall in Wayne.

July 16, 2019

Acquisitions Multifamily Texas

NorthMarq Arranges Sale of 548-Unit Apartment Community in Irving

by Taylor Williams July 16, 2019

IRVING, TEXAS — NorthMarq has arranged the sale of MacArthur Place Apartments, a 548-unit multifamily community in Irving. Built in 1964 and renovated in 2002, the property offers one-, two- and three-bedroom units and amenities such as two pools, a sports court and onsite laundry facilities. Taylor Snoddy, Philip Wiegand and James Roberts of NorthMarq represented the seller and the buyer in the transaction. In addition, Stephen Whitehead of NorthMarq arranged an undisclosed amount of acquisition financing through a life company for the new owner.

July 16, 2019

Acquisitions Industrial Texas

Stonelake Capital Partners Buys 129,061 SF Warehouse in Dallas

by Taylor Williams July 16, 2019

DALLAS — Stonelake Capital Partners has purchased a 129,061-square-foot warehouse located at 8220 Ambassador Row in Dallas. According to LoopNet Inc., the single-tenant property was built in 1966 and features 18-foot clear heights and 11 dock-high loading doors. Jamie Jennings, Jason Moser and Andrew Rabinovich of Stream Realty Partners represented the seller, Chicago-based Brennan Investment Group, in the transaction.

July 16, 2019

Acquisitions Retail Texas

InvenTrust Acquires Whole Foods-Anchored Retail Center in Metro Dallas for $36M

by Taylor Williams July 16, 2019

FAIRVIEW, TEXAS — InvenTrust Properties Corp., an Illinois-based shopping center REIT, has acquired Shoppes at Fairview, a 67,500-square-foot retail center in metro Dallas, for $36 million. Anchored by Whole Foods Market, the property also houses tenants such as Capital One and Jos. A Bank. The center was acquired in conjunction with a 346,200-square-foot, Costco-anchored center in South Florida, a property that fetched a sales price of $97 million. Chris Gerard, Barry Brown and Ryan Shore of JLL represented the seller, Lincoln Property Co., in the transaction.

July 16, 2019

Acquisitions Industrial Office Texas

Merritt Industrial Sells 58,193 SF Flex Property in Metro Dallas

by Taylor Williams July 16, 2019

GARLAND, TEXAS — Merritt Industrial Dallas LLC has sold Northgate Business Park IV, a 58,193-square-foot flex property located in the northeastern Dallas suburb of Garland. Built on 2.8 acres in 1986, the property, approximately 60 percent of which is office space, formerly served as the headquarters for National Spirit Group. Brian Pafford of Bradford Commercial Real Estate Services represented the locally based seller in the transaction. Greg Cagle of Coldwell Banker represented the buyer of record, SJ & JL LLC. The new ownership plans to renovate the property

July 16, 2019

Acquisitions Retail Texas

Marcus & Millichap Brokers Sale of 31,950 SF Retail Center in Plano

by Taylor Williams July 16, 2019

PLANO, TEXAS — Marcus & Millichap has brokered the sale of Independence Park, a 31,950-square-foot retail property located at 3020 Legacy Drive in the northern Dallas suburb of Plano. The property was built in 1994. Philip Levy of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity.

July 16, 2019

Acquisitions Colorado Multifamily Western

Jupiter Equities Acquires 140-Unit Caliber at Cornerstar Apartment Complex in Colorado for $40.7M

by Amy Works July 16, 2019

AURORA, COLO. — Jupiter Equities has purchased Caliber at Cornerstar, a newly built apartment complex located at 15930 E. Briarwood Circle in Aurora. The Garrett Cos. sold the property for $40.7 million. Situated on 4.6 acres, Caliber at Cornerstar features 140 units in a mix of one-, two- and three-bedroom layouts with premium finishes, walk-in closets, full-size washers/dryers, granite or quartz countertops and nine-foot ceilings. Community amenities include a fitness center, attached and detached garages, a clubhouse and a resort-inspired pool. The three-building property was built in 2018. David Potarf, Dan Woodward and Matthew Barnett of CBRE represented the seller in the transaction.

July 16, 2019

Development Multifamily Oregon Western

Wood Partners Breaks Ground on 314-Unit Alta Art Tower in Portland, Oregon

by Amy Works July 16, 2019

PORTLAND, ORE. — Wood Partners has broken ground on Alta Art Tower, a Class A multifamily property located at 1516 SW Alder St. in Portland. The high-rise tower will feature 314 units in a mix of studio, one-, two- and three-bedroom floor plans. Units will feature quartz kitchen countertops; stainless steel Energy Star appliances, including gas cooking ranges; vinyl-wood flooring; en-suite master baths with custom-framed mirrors; tile shower surrounds and soaking tubs; walk-in closets; and solar shades. The community is central to a variety of art, cultural and retail in the Portland neighborhoods of Downtown, Pearl District, West End, Goose Hollow and Alphabet District.

July 16, 2019

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