Property Type

VapeWild Signs 62,289 SF Office/Industrial Lease in Metro Dallas

by Taylor Williams May 8, 2018

ADDISON, TEXAS — VapeWild, a manufacturer and distributor of e-cigarette juice, has signed a 62,289-square-foot office/industrial lease at 4550 Excel Parkway in Addison, a northern suburb of Dallas. VapeWild has operated in Addison since 2013 and is expanding its footprint, which previously totaled 20,765 square feet. Roughly half the new space is being used for manufacturing and distribution and the other half will be used to house its customer relations team. The company, which now employs about 280 people, will move into its expanded space in July.

May 8, 2018

Acquisitions Industrial Texas

NAI Partners Arranges Sale of 54,750 SF Warehouse in Houston

by Taylor Williams May 8, 2018

HOUSTON — NAI Partners has arranged the sale of a 54,750-square-foot warehouse located at 14333 Sommermeyer St. in northwest Houston. Nick Peterson, John Ferruzzo and Ryan Searle of NAI Partners represented the seller, Vallourec Tube Alloy LLC, a provider of casing and tubing accessories, in the sale. Justin Clark and Nathan Gaines of Clark Gaines represented the buyer, H&B Development & Construction LP.

May 8, 2018

Acquisitions Multifamily New Jersey Northeast

HFF Brokers $146M Sale of Apartment Community in Hoboken

by David Cohen May 8, 2018

HOBOKEN, N.J. — HFF has brokered the $146 million sale of The Rivington, a 240-unit apartment community in Hoboken. The transaction is the largest apartment sale in New Jersey year-to-date, according to HFF. The Rivington is located at 1130 Grand St. in the northwest section of Hoboken. Jose Cruz, Kevin O’Hearn, Michael Oliver and Stephen Simonelli of HFF represented the seller, institutional investors advised by J.P. Morgan Asset Management, in the transaction. The buyer was Equity Residential, which purchased the property free and clear of existing debt. The property was completed in 1999 and features 240 two-bedroom units at market-rate rents. A majority of the units have been renovated since 2014. Amenities include a fitness center, clubhouse and private storage lockers.

May 8, 2018

Acquisitions Hospitality Mixed-Use Northeast Rhode Island

NKF Capital Markets Orchestrates $10.1M Sale of Newport Grand Casino in Rhode Island

by David Cohen May 8, 2018

NEWPORT, R.I. — NKF Capital Markets has orchestrated the sale of the Newport Grand Casino in Newport for $10.1 million. NKF represented the seller, Twin River Management Group, in the transaction. The buyer was Carpionato Group. Initially serving as an arena for jai alai, Newport Grand added slot machines in 1992 and was renovated in 2008 to add space for a full casino. The property will continue to operate as the Newport Grand Casino until the gaming facility relocates to Tiverton, Rhode Island later this year. The buyer plans to redevelop the 23.5-acre site into a mixed-use project.

May 8, 2018

Loans Massachusetts Multifamily Northeast

Cornerstone Realty Capital Arranges $14.3M Acquisition Loan for Apartment Complex in Amesbury

by David Cohen May 8, 2018

AMESBURY, MASS. — Cornerstone Realty Capital has arranged $14.3 million in acquisition financing for the Residences at Riverwalk at 1 River Court in Amesbury, 40 miles north of Boston. The borrower was undisclosed. The complex features two buildings that were originally part of a mill built in 1918, but converted into apartments in 2006. Combined there are 87 units averaging around 1,041 square feet each. Amenities include a fitness center, shared library and great room with entertainment space. A local bank provided the fixed-rate financing with two years of interest-only payments followed by a 30-year amortization.

May 8, 2018

Development Massachusetts Multifamily Northeast

Nauset Breaks Ground on 93-Unit Apartment Development in Cambridge

by David Cohen May 8, 2018

CAMBRIDGE, MASS. — Nauset Construction has broken ground on a 93-unit apartment development in the Alewife neighborhood of Cambridge for owner Abodez Acorn New Street LLC. The new complex, known as Park 77, will be constructed at the site of the former window and door manufacturing and warehouse facility known as the J&C Adams Co. at 77 New St. Designed by Piatt Associates, the four-story, 96,000-square-foot building will be comprised of a mix of studio, one-, two- and three-bedroom units. Amenities will include a lobby lounge, café with full kitchen, a multimedia room, fitness center and a top floor sky lounge with a pool table and roof deck. The owner previously developed Park 87 in 2015, a 54-unit apartment complex located at 87 New St. Construction is slated be completed in the summer of 2019.

May 8, 2018

Acquisitions Multifamily New York Northeast

Rosewood Negotiates $7.3M Sale of Four Apartment Buildings in the Bronx

by David Cohen May 8, 2018

NEW YORK CITY — Rosewood Realty Group has negotiated the sale of four walk-up apartment buildings in the Bronx for $7.3 million. The properties sold for 11 times the current rent roll at a 5.5 percent cap rate. The four-story buildings, which are located at 2542-2548 White Plains Road, are comprised of 24 residential units and eight retail storefronts that include a local grocery, restaurant and beauty salon. Built in 2008, the attached properties total 29,140 square feet. Rosewood Realty represented the buyer, a group of private investors, and the seller, Madison Realty Capital, in the transaction.

May 8, 2018

Acquisitions Industrial Office Southeast Tennessee

CCP Acquires Office-Flex Portfolio in Nashville for $41.2M

by Camren Skelton May 8, 2018

NASHVILLE, TENN. — Virginia Beach, Va.-based CCP Commercial Real Estate has acquired a five-building office-flex portfolio in Nashville for $41.2 million. The properties are located within the city’s Airport North and Metro Center submarkets. The portfolio, which was 97 percent leased at the time of sale, totals 413,000 square feet and includes a mix of office and warehouse space. The name of the seller was not disclosed. The acquisition brings CCP’s portfolio in the Nashville market to approximately 1 million square feet.

May 8, 2018

Acquisitions Maryland Mixed-Use Multifamily Retail Southeast

HFF Brokers Sale of Mixed-Use Community in Bethesda

by Camren Skelton May 8, 2018

BETHESDA, MD. — HFF has brokered the sale of Flats at Bethesda Avenue, a 162-unit apartment community in Bethesda. Stephen Conley, Sue Carras, Walter Coker, Brian Crivella, John Owendoff and Jordan Lex of HFF arranged the transaction on behalf of the seller, a joint venture between StonebridgeCarras, PN Hoffman, Buvermo and Northwestern Mutual. The HFF team also procured the buyer, a fund managed by BlackRock Real Assets. Flats at Bethesda Avenue, constructed in 2015, includes more than 40,000 square feet of ground-floor retail space that is fully leased to Pottery Barn, Pottery Barn Kids, PassionFish, Silver, Paul, Chop’t and Long & Foster Real Estate. Community amenities include a rooftop deck with a kitchen, lounge, fire pit and bar; fitness center; two-level clubhouse with fireplace; billiards and kitchen; coffee lounge; and a terraced outdoor patio that connects to the Capital Crescent Trail, an off-road rail-trail that stretches 11 miles from Washington, D.C.’s Georgetown district to Silver Spring, Md.

May 8, 2018

Development Louisiana Multifamily Southeast

Bearing Point Breaks Ground on 272-Unit Apartment Community Near Baton Rouge

by Camren Skelton May 8, 2018

GONZALES, LA. — Bearing Point Properties has broken ground on Sawgrass Point, a 272-unit apartment community in Gonzales, located roughly 25 miles south of Baton Rouge. The community will include four apartment buildings and two townhome-style buildings. Amenities will include a clubhouse, resort-style pool, outdoor kitchen, dog park and a fitness center. Doster Construction Co. is the general contractor for the project, and Humphreys & Partners Architects is the architect of record. The development team expects to wrap up construction on Sawgrass Point in spring 2019.

May 8, 2018

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