HOUSTON — Local firm Davis Commercial Development has acquired 34.9 acres on which to build an industrial project at the intersection of Interstate 45 and Cypress Creek Parkway in north Houston. The property will be located near ExxonMobil’s campus and George Bush Intercontinental Airport. Todd Edmonds and Michelle Soderberg of Colliers International represented the seller, Hendricks Interests LLC, in the land sale. Colliers will also market the property, which will consist of two cross-dock, single-tenant buildings.
TOMBALL, TEXAS — The parent company of Hoelscher Weatherstrip Manufacturing Co., which specializes in custom doors and weatherstripping, has acquired land in the northwestern Houston suburb of Tomball for the construction of a 193,000-square-foot plant. The project is valued at $10.6 million and is expected to create about 120 new jobs. A timeline for construction and occupancy was not provided.
HOUSTON — NAI Partners has secured a 22,800-square-foot industrial lease at 4140 World Houston Parkway in Houston for COSA Xentaur, a provider of equipment for the petrochemical, energy and pharmaceutical industries. Jake Wilkinson of NAI Partners represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.
SOMERSET, N.J. — JLL Capital Markets has brokered the $33.5 million sale of Atrium Corporate Park in Somerset. Located at 300, 400 and 500 Atrium Drive, the 679,251-square-foot office park consists of three buildings and is situated on more than 47 acres. Joseph Garibaldi, Thomas Walsh, Heather Lombardi, Katelyn Borovsky and Nick Vanderslice of JLL represented both the buyer and seller, who were undisclosed, in the transaction.
EAST NORRITON, PA. — HFF has negotiated the $12.3 million sale of Norriton Medical Center, a 74,212-square-foot medical center in the Philadelphia suburb of East Norriton. Located at 160-190 W. Germantown Pike, the four-building complex is currently 92 percent leased and is anchored by Einstein Orthopedics and Moss Rehab. Ben Appel, Jim Cadranell, Doug Rodio and Brett Segal of HFF represented the seller, an indirect wholly owned subsidiary of Franklin Realty Development Corp., in the transaction. The buyer was undisclosed.
NEW JERSEY — Arbor Realty Trust has originated a $10.4 million loan through Freddie Mac for the refinancing of New Jersey SFR portfolio, a 78-unit, 33-property portfolio in Jersey City, Newark, Paterson and Bayonne. Stephen York of Arbor’s New York City Office secured the financing for the borrower, who was undisclosed. Terms of the financing included a 10-year, fixed-rate loan with a 30-year amortization schedule. A majority of the properties in the portfolio were acquired in the past two years and have been recently renovated.
NEW YORK CITY — Cushman & Wakefield has arranged the sale of a vacant 3,750-square-foot industrial building in the Hunts Point neighborhood of the Bronx. The sales price was $975,000. Located at 1318 Oak Point Ave., the property consists of 2,500 square feet of industrial space with 14-foot ceilings on the ground floor, five roll-up garage doors and 1,250 square feet of space on the second floor. Jonathan Squires, Michael Fioravanti, Josh Neustadter and Addison Berniker of Cushman & Wakefield represented the undisclosed seller in the transaction. The buyer was an Opportunity Fund formed by My Tool Rental, a Brooklyn-based tool rental firm that is expanding into the Bronx.
PHILDELPHIA — Binswanger has secured an 81,226-square-foot industrial lease for Hunter Keystone Peterbilt in Philadelphia. The property is located at 2811 Charter Road. Hunter Keystone Peterbilt plans to operate a full-service Navistar International heavy and medium duty truck dealership and an Idealease heavy and medium duty truck leasing company at the location. Hunter is a network of truck dealerships that has been in business for more than 80 years. Chris Pennington of Binswanger’s Philadelphia office secured the 10-year lease on behalf of Hunter from the property owner, Charter Road Realty.
BOTHELL, WASH — Investcorp has completed the sale of Highlands Campus Tech Centre, a technology campus located at 21520, 21312 and 21222 30th Drive SE in Bothell. Equus Capital Partners acquired the asset for an undisclosed price. The 201,766-square-foot campus features two flex/R&D buildings and one office building. Kevin Shannon, Nick Kucha, Ken White, Michael Moll and Bill DeLacy of Newmark Knight Frank represented the seller in the deal.
FOUNTAIN VALLEY, CALIF. — Lancaster Pollard has provided $36 million in fixed-rate, HUD-insured financing for the construction of Park View Estates. The 145-unit seniors housing community will be located in Fountain Valley, approximately 35 miles southeast of Los Angeles. Welbrook Senior Living and Sunshine Retirement Living are developing the property, which is adjacent to Fountain Valley Regional Hospital. Once completed, the community will offer 106 assisted living units and 39 memory care units. The project is scheduled for completion in 2020. Jason Dopoulos led the transaction for Lancaster Pollard.