FORT COLLINS, COLO. — Colorado-based McWhinney has purchased an office building, located at 3420 E. Harmony Road in Fort Collins, for an undisclosed price. The three-story, 179,688-square-foot building is adjacent to the Arapaho Bend Natural Area. Comcast, Madwire and Micro Focus occupy the property. Peter Kelly of CBRE represented the buyer, while Peter Kast, Alex Sommerville and Chad Flynn of CBRE represented the undisclosed seller in the deal.
BAYONNE, N.J. — New Jersey-based development and management firm KRE Group has received a $45 million construction loan for Harbor Station North, a 200-unit apartment project in Bayonne, located across from Brooklyn. The three-building property will include 10,000 square feet of retail space and offers access to multiple public transit lines. PNC Bank and People’s United Bank provided the three-year loan, which was placed by George Gnad of Avison Young. The project is expected to be complete by spring 2020.
KENT, WASH. — Bridge Development Partners has purchased a 4.7-acre development site, located at 26524 79th Ave. in Kent, from an independent seller for an undisclosed price. Bridge Development plans to construct Bridge Point Kent 100, a 97,522-square-foot industrial facility, on the site. Slated for delivery in first-quarter 2020, the facility will feature 30-foot clear ceiling heights, 14 dock-high doors, two grade-level doors, flexible size configurations and an ESFR sprinkler system. Steve Brunette, Shawn Childs and Andrew Stark of CBRE represented Bridge in the acquisition. Childs and Stark will serve as leasing agents for the property.
NEW YORK CITY — Knotel, a provider of flexible office space, has signed a lease to open a 14,160-square-foot office space at 101 Fifth Avenue, an office building in Manhattan that is owned by Eretz Group. The space will span two floors at the 11-story property and raises Knotel’s total footprint across the city to 40 locations totaling 580,881 square feet. Greg DiGioia and Michael Morris of Newmark Knight Frank represented Knotel in the lease negotiations.
DENVER — Monfort Cos. and Denver-based Magnetic Capital have acquired a historic building located at 2100 Larimer St. in Denver’s Ballpark neighborhood. An undisclosed seller sold the property for $2.9 million. The buyers plan to redevelop the two-story, 11,600-square-foot property into a mix of retail and office space. Formerly the site of the bar El Charrito, the renovation will preserve the building’s historic character while repositioning the property for new tenants. The developers are targeting a restaurant tenant for the 5,830-square-foot first-floor space, while seeking office tenants for the upper floors. Completion is slated for the second half of 2020. Jamis Cos. represented the undisclosed seller in the transaction.
NIAGARA FALLS, N.Y. — Hunt Real Estate Capital has provided a $6.7 million Fannie Mae loan for the refinancing of Cayuga Village MHC, a 275-site manufactured housing community in Niagara Falls, located just north of Buffalo. The property was built in stages between the 1950s and 1990s and is located near several major retail centers. A portion of the proceeds will be used to expand the property by 20 to 40 additional sites and to fund capital improvements across the manufactured housing community. The loan, which carries interest-only payments for the first three years, was provided to a family-owned operation that has held the property for more than 50 years.
PORT JERVIS, N.Y. — Sentinel Senior Living LLC has opened The Sentinel of Port Jervis, a 160-unit assisted living community in Port Jervis, located along the Pennsylvania border approximately 70 miles northwest of New York City. The building was formerly a Days Inn, which was renovated and expanded for the project. The 65,000-square-foot building sits on over five acres. The Sentinel is seeking to expand its footprint in the area, completing a similar project in Amsterdam in 2017. The company plans to use these projects as a blueprint for future developments.
MILWAUKEE — J. Jeffers & Co. has broken ground on the Huron Building, an 11-story, Class A office development in Milwaukee. Located in the downtown’s Third Ward, the project will span 163,000 square feet. Law firm Husch Blackwell has pre-leased 48 percent of the property. Completion is slated for December 2020. J. Jeffers & Co. received a $39 million construction loan from Associated Bank and a $21 million equity investment, including $14 million raised on crowdfunding platform CrowdStreet. The developer will also own and operate the property. Madison, Wis.-based Stevens Construction is the general contractor.
URBANDALE, IOWA — Hy-Vee Inc. will open a “Fast & Fresh” store at Prairie Tower Business Park in Urbandale. The West Des Moines-based supermarket chain will also open an accompanying gas station and drive-up coffee shop. Prairie Tower Business Park is the latest of R&R Realty Group’s developments within the area. The 74-acre project will include retail and office buildings along Meredith Drive.
DETROIT — Greystone Bel has brokered the sale of Wayne Court Apartments in Detroit for $3.9 million. The 45-unit apartment building is located along Cass Avenue near Little Caesars Arena. The property, built in 1925, also includes two retail spaces. Buyer and seller information was not disclosed.
