Property Type

Steady Demand, Available Labor Prepare Louisville’s Industrial Market for Success

by John Nelson December 2, 2018

Strong market performance has allowed the Louisville industrial market to recently post the highest quarter of positive net absorption in market history during the second quarter of 2018, which occurred on the heels of the second-highest quarter of positive net absorption recorded just one quarter earlier. This outcome has been the result of recent build-to-suit projects, the availability of quality product and growing demand by new and prospective tenants in the Louisville market. Beyond healthy supply and demand fundamentals, Louisville is achieving great balance with access to available labor along with low utility costs. Tenant Demand Picks Up There are currently over 20 active prospects considering 200,000 square feet or larger in the metro Louisville market. Much of this demand is attributed to the high level of activity at the two local Ford Motor Co. plants, as well as the proximity of the UPS Worldport, the 5.2 million-square-foot-core of UPS’s global air network located in the heart of metro Louisville. Along with the natural interest from companies in the automotive supply chain and e-commerce companies benefiting from the proximity to UPS, we have recently seen an increase in pharmaceutical and food-related companies considering Louisville for a location. Strong Labor Force …

December 2, 2018

Acquisitions Industrial New Jersey Northeast

HFF Arranges $51M Sale of Industrial Building in Northern New Jersey

by David Cohen November 30, 2018

TOTOWA, N.J. — HFF has arranged the $51 million sale of a 382,596-square-foot, newly constructed industrial building in Totowa. Located at 700 Union Boulevard, the single-story property was completed in 2018 and sits on more than 26 acres. Joe B. Thornton Jr., Jon Mikula, Jose Cruz, Marc Duval and Jordan Avanzato of HFF represented the seller, The Hampshire Cos., in the transaction. The buyer was undisclosed.

November 30, 2018

Loans Multifamily Northeast Pennsylvania

Hunt Real Estate Capital Secures $35.2M Refinancing for Multifamily Portfolio in Pennsylvania

by David Cohen November 30, 2018

READING, PA. — Hunt Real Estate Capital has secured a $35.2 million cash-out refinance for a four-property multifamily portfolio in Reading. The properties include a 161-unit multifamily community built in 1960; a 97-unit apartment complex built in 1969; a 77-unit, garden-style apartment complex built in 1968 and a 156-unit, garden-style apartment complex built in 1950. The Fannie Mae multifamily loans have a 12-year term and 30-year amortization schedule. The borrower was undisclosed.

November 30, 2018

Acquisitions Mixed-Use New York Northeast

Kinsmen Property Group Acquires Mixed-Use Portfolio in Manhattan for $29.5M

by David Cohen November 30, 2018

NEW YORK CITY — Kinsmen Property Group has acquired a mixed-use portfolio in Manhattan’s Bowery District for $29.5 million. The seller was LBG Enterprises LLC. Located at 156-160 Bowery, the property includes three apartments and 8,000 square feet of retail space. With the acquisition, Kinsmen now owns 150 feet of frontage in the Bowery District. The retail space in the property was previously occupied by home decor seller Lighting by Gregory. There were no brokers in the transaction.

November 30, 2018

Acquisitions Healthcare New York Northeast

Jacobson Properties, Crisafulli Associates Broker $10M Sale of Medical Office Building in New York

by David Cohen November 30, 2018

NISKAYUNA, N.Y. — Jacobson Properties and Crisafulli Associates have brokered the $10 million sale of Albany Med at Niskayuna, a 37,821-square-foot medical office building in Niskayuna. The property is fully leased by Albany Medical College, which houses Albany Med EmUrgentCare, Albany Med’s Gastroenterology and Community Services medical group, laboratory services and an ambulatory surgical center. Lisa Menin of Jacobson Properties and Michael Crisafulli of Crisafulli Associates represented the undisclosed seller in the transaction. The buyer was a privately held healthcare real estate investment firm.

November 30, 2018

Acquisitions Mixed-Use New York Northeast

Cushman & Wakefield Negotiates $1.3M Sale of Mixed-Use Building in the Bronx

by David Cohen November 30, 2018

NEW YORK CITY —Cushman & Wakefield has negotiated the $1.3 million sale of a two-story, mixed-use building in the Claremont neighborhood of the South Bronx. Located at 500-502 E. 167th St., the 4,751-square-foot property includes four commercial units as well as a full basement. Jonathan Squires, Michael Fioravanti, Josh Neustadter and Addison Berniker of Cushman & Wakefield represented the undisclosed seller in the transaction. The buyer was also undisclosed.

November 30, 2018

Acquisitions District of Columbia Hospitality Southeast

Xenia Hotels Sells Hilton Garden Inn in Downtown D.C. for $128M

by Alex Tostado November 30, 2018

WASHINGTON, D.C. — Xenia Hotels & Resorts has sold Hilton Garden Inn Washington DC Downtown for $128 million to an undisclosed buyer. Hilton Garden Inn is a 300-room hotel that features a business center, fitness center, pool, baggage storage and room service. The hotel is located on 14th Street, about three blocks from the White House and five blocks from Washington Convention Center and Capital One Arena.

November 30, 2018

Development Georgia Industrial Southeast

Wayfair to Open 1.1 MSF Industrial Facility in Savannah

by Alex Tostado November 30, 2018

SAVANNAH, GA. — Boston-based Wayfair will open a new 1.1 million-square-foot facility in Savannah, creating 1,000 jobs. New jobs will include supervisory, administrative and warehouse positions. The company and the undisclosed landlord plan to invest about $45 million in the site over the next five years. Wayfair, founded in 2002, is an e-commerce company that sells more than 10 million home goods items. This is Wayfair’s second Georgia location, joining a warehouse and distribution center in McDonough, located about 32 miles south of downtown Atlanta. Wayfair’s new facility will be situated within Savannah River International Trade Park, according to Savannah Morning News. The park is already home to distribution centers for IKEA and Target.

November 30, 2018

Acquisitions Georgia Multifamily Southeast

Aspen Square Management Sells Multifamily Community in Atlanta for $31.3M

by Alex Tostado November 30, 2018

ATLANTA — Massachusetts-based Aspen Square Management has sold West Eleven Apartments in southwest Atlanta to an undisclosed buyer for $31.3 million. The 224-unit apartment community is located about 15 miles from downtown Atlanta and features one-, two- and three-bedroom floor plans. Amenities include a business center, pool, tennis court, fitness center, playground and a courtyard. Paul Vetter, Andrew Mays, Russ Hardy, Judy MacManus and Matthew White of Berkadia represented the seller in the transaction.

November 30, 2018

Development Florida Industrial Office Southeast

Miller Construction Delivers Office, Manufacturing Facility for CGI Windows and Doors in South Florida

by Alex Tostado November 30, 2018

HIALEAH, FLA. — Miller Construction has delivered CGI Doors and Windows’ office and manufacturing facility in Hialeah’s Countyline Corporate Park. CGI Windows and Doors moved into the new 325,000-square-foot building at 3780 W. 104th St. from a smaller location in nearby Miami. Flagler Global Logistics was the developer and Ware Malcomb designed the facility. Ware Malcomb offers integrated design services including architecture, planning, interior design, civil engineering and branding to diverse clients in both the private and public sectors.

November 30, 2018

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