Property Type

Dilweg Acquires Office Portfolio in Tampa’s Westshore District

by Alex Tostado May 2, 2019

TAMPA, FLA. — The Dilweg Cos. has acquired Concourse Center, a four-building office property spanning 294,000 square feet in Tampa. The three-story buildings were built between 1982 and 1984 and were 90 percent leased at the time of sale. Notable tenants include BayCare Medical Group, State of Florida, Enterprise and Pegasus TSI. Dilweg plans to invest $4 million to improve the buildings’ operating systems, common areas, tenant amenities and provide a “best in class” office experience for existing and future tenants. The property is situated between Interstate 275 and Tampa International Airport in the Westshore submarket. The seller and sales price were not disclosed.

May 2, 2019

Acquisitions Colorado Office Western

HFF Negotiates $71.1M Sale of Westmoor Place Office Campus Near Denver

by Amy Works May 2, 2019

WESTMINSTER, COLO. — HFF has arranged the sale of Westmoor Place 8, 9 and 10, a three-building office campus. An undisclosed seller sold the property to CapRidge Partners for $71.1 million. Located at 11400, 11300 and 11000 Westmoor Circle in Westminster, a northwest suburb of Denver, the asset totals 428,029 square feet of Class A office space. The three- and four-story buildings are 79 percent leased to a variety of tenants, including CACI International, Kahuna Ventures, Coalfire Systems and General Dynamics. Amenities at the office campus include a full-service cafeteria, showers on every office floor, a fitness center and access to 3.5 miles of trails and open space, as well as an on-call shuttle. Mark Katz and Peter Merrion of HFF represented the seller and procured the buyer in the transaction.

May 2, 2019

California Development Multifamily Seniors Housing Western

Oakmont Prepares to Open 86,839 SF Seniors Housing Community Near Los Angeles

by Amy Works May 2, 2019

CAMARILLO, CALIF. — Oakmont Senior Living has opened a welcome center at Oakmont of Camarillo, its upcoming seniors housing community in Camarillo, approximately 60 miles northwest of Los Angeles. The 86,839-square-foot property is scheduled to open around the end of the year. When completed, the three-acre community will offer 60 assisted living and 25 memory care apartments. Ted Burgess is executive director of Oakmont of Camarillo.

May 2, 2019

California Industrial Leasing Activity Western

Valencia Pipe Co. Leases 170,990 SF Industrial Space at Vista Business Park in Southern California

by Amy Works May 2, 2019

VALENCIA, CALIF. — Valencia Pipe Co., a division of VPC Global, has signed a lease for 170,990 square feet of industrial space at Vista Business Park in Valencia. The lease is valued at $10.1 million. Located at 28305 Livingston Ave., the Class A property features heavy power, 22 ground-level loading doors, two dock-high doors, 30-foot clear heights and 344 parking spaces. The landlord, Valencia LLC, is currently adding 7,000 square feet of corporate office space on the site. Once completed, Valencia Pipe Co., a manufacturer of steel tubing and pipes used in retail and wholesale, will vacate its current facilities in the Valencia Commerce Center on Industry Drive in Valencia and relocate to the new property. Matt Dierchman, David Harding, Greg Geraci and Billy Walk of CBRE represented the tenant, while Nigel Stout of JLL and Rob Fuelling and Brady Thomson of IDS represented the landlord in the transaction.

May 2, 2019

Acquisitions California Retail Western

Marcus & Millichap Directs $2.1M Acquisition of Retail Center in Indio, California

by Amy Works May 2, 2019

INDIO, CALIF. — Marcus & Millichap has arranged the sale of a retail property, located at 82360 U.S. Highway 111 in Indio. An individual/personal trust acquired the 9,888-square-foot property for $2.1 million at a 6.7 percent capitalization rate. Edwin Mariscal of Marcus & Millichap’s Ontario, Calif., office represented the buyer in the deal.

May 2, 2019

Acquisitions Industrial Nevada Office Western

NAI Alliance Brokers Two Sales Totaling 21,072 SF of Industrial, Office Space in Reno

by Amy Works May 2, 2019

RENO, NEV. — NAI Alliance has negotiated sales of two properties totaling 21,072 square of industrial and office space in Reno. Prices were not disclosed. In the first transaction, The Carle & Anne Conway Family Trust acquired a 19,222-square-foot office building located at 140 Washington St. Dan Oster and Chase Houston of NAI Alliance represented the seller, TDC Reno Office 1-DE SPE LLC, while Avison Young Western Alliance Commercial represented the buyer. In the second deal, Nevada Outdoors purchased a 1,850-square-foot industrial building, located at 5115 Sun Valley Blvd. Oster and Bryce Wiele of NAI Alliance represented the buyer, while DCG Commercial Group represented the seller, David Muskin.

May 2, 2019

Loans Maine Massachusetts Multifamily New Hampshire Northeast Seniors Housing

HFF Provides Financing for 565-Unit Seniors Housing Portfolio in New England

by Taylor Williams May 2, 2019

MAINE, MASSACHUSETTS and NEW HAMPSHIRE — HFF has provided an undisclosed amount of financing for a portfolio of eight seniors housing properties totaling 565 units in New England. Northbridge Strategic Senior Housing Fund II was the borrower. Freddie Mac provided the capital, and HFF will service the loans. The intended use of the proceeds was not disclosed. The properties in the portfolio are Avita of Brunswick in Brunswick, Maine; Avita of Stroudwater in Westbrook, Maine; Avita of Wells in Wells, Maine; Carriage House at Lee’s Farm in Wayland, Massachusetts; Laurelwood at the Pinehills in Plymouth, Massachusetts; Ledgewood Bay at Milford in Milford, New Hampshire; Stroudwater Lodge in Westbrook, Maine; and Sunnybrook in Brunswick, Maine. The properties have an average completion date of 2014 and comprise a mixture of 49 independent living, 256 assisted living and 260 memory care units that were nearly 90 percent occupied at closing.

May 2, 2019

Industrial Loans New Jersey Northeast

Axiom Capital Arranges $52M in Permanent Financing for Warehouse in Wayne, New Jersey

by Taylor Williams May 2, 2019

WAYNE, N.J. — Axiom Capital Corp., a real estate finance and advisory firm with offices in New York and New Jersey, has arranged $52 million in permanent financing for a 473,670-square-foot warehouse in Wayne, located northwest of Newark. Situated on 31 acres, the property features 40-foot clear heights, 42 dock doors and proximity to I-80 and U.S. Route 46. A life insurance company provided the loan, which features a 10-year term, a fixed interest rate and a 30-year amortization schedule. The borrower was Peykar Family Properties of Wayne.

May 2, 2019

Leasing Activity New York Northeast Office

CBRE Negotiates 83,051 SF Office Lease for Rent the Runway in Brooklyn

by Taylor Williams May 2, 2019

BROOKLYN, N.Y. — CBRE has negotiated an 83,051-square-foot office lease at 10 Jay Street in the Dumbo area of Brooklyn for Rent the Runway, an online company that provides clothing rental services. The tenant will relocate its headquarters from 345 Hudson Street to the 10-story, 200,000-square-foot property, which was developed by Glacier Global Partners. Frederick Fackelmayer, Alex Benisatto and Sam Mann of CBRE represented Rent the Runway, which plans to move in to its new space in 2020, in the lease negotiations.

May 2, 2019

Leasing Activity New York Northeast Office

Engineering, Consulting Firm Signs 60,000 SF Office Lease in Midtown Manhattan

by Taylor Williams May 2, 2019

NEW YORK CITY — Cosentini Associates, a division of engineering and consulting firm Tetra Tech Inc., has signed a 60,000-square-foot office lease at 498 Seventh Avenue, a 25-story, 960,000-square-foot tower in Midtown Manhattan. Cosentini plans to relocate its headquarters from 2 Penn Plaza to the new space in the first quarter of 2020. Justin Aronson, Michael Liss, Christopher Mansfield and Adele Huang of CBRE represented the tenant in the lease negotiations. Andrew Conrad and Matt Coudert represented the landlord, George Comfort & Sons, on an internal basis.

May 2, 2019

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