Property Type

Brixmor Sells 136,747 SF Grocery-Anchored Retail Center in Houston

by Taylor Williams January 23, 2019

HOUSTON — Brixmor Property Group Inc., a New York City-based shopping center REIT, has sold Northwood Plaza, a 136,747-square-foot retail center in Houston. Anchored by local grocer Food City, the property was 91 percent leased at the time of sale to tenants such as Beauty Supply, Family Dollar, Burger King and Subway. Ryan West, John Indelli and Charles Strauss of HFF represented Brixmor in the transaction. Michael Johnson and Stuart Hepler of HFF arranged acquisition financing through Amerant Bank on behalf of the undisclosed buyer.

January 23, 2019

Development Multifamily Seniors Housing Texas

Presidium Begins Construction of 188-Unit Seniors Housing Community in Frisco

by Taylor Williams January 23, 2019

FRISCO, TEXAS — Presidium, an investment and development firm with offices in Dallas and Austin, has begun construction on Artistry at Edgestone, a 188-unit independent living community in the northern Dallas suburb of Frisco. Situated on 18 acres, the property will offer amenities such as a pool, fitness and wellness center, library and cyber lounge, media and game rooms, hair salon, walking trails and an arts and crafts center. Completion is slated for summer 2020. San Antonio-based Mason Joseph Co. Inc. arranged a $31.9 million HUD loan for the construction and permanent financing of the project.

January 23, 2019

Acquisitions Retail Texas

STRIVE Arranges Sale of 6,333 SF Strip Retail Center in Irving

by Taylor Williams January 23, 2019

IRVING, TEXAS — Dallas-based retail brokerage firm STRIVE has arranged the sale of Victory Shops @ Riverside II, a 6,333-square-foot strip retail center in Irving. The property was built in 2017 and was 100 percent occupied at the time of sale by tenants on triple-net leases including Domino’s Pizza. STRIVE represented the seller, a Dallas-based investor, and procured the buyer in the transaction. Both parties requested anonymity.

January 23, 2019

Acquisitions New York Northeast Office

HFF Arranges $16M Sale of Office Complex on Long Island

by David Cohen January 23, 2019

HAUPPAUGE, N.Y. — HFF has arranged the $16 million sale of a two-building, 131,223-square-foot office complex in Hauppauge, Long Island. Located at 330 and 350 Motor Parkway, the property was originally built in 1971 and renovated between 2012 and 2016. The complex is currently 94 percent leased. Amenities include a full-service cafeteria, fitness center with locker rooms, shared conference rooms and tenant storage areas. Jose Cruz, Kevin O’Hearn, Andrew Scandalios, Stephen Simonelli and Michael Oliver of HFF represented the sellers, KABR Group and Capstone Realty Group, in the transaction. The buyer was Long Island-based Valley East Management.

January 23, 2019

Acquisitions Multifamily New Jersey Northeast

Spirit Bascom Ventures Acquires Apartment Building in Hoboken for $15.5M

by David Cohen January 23, 2019

HOBOKEN, N.J. — Spirit Bascom Ventures has acquired a 30-unit apartment building in Hoboken. The sales price was $15.5 million. Located at 204 Grand St., the six-story property was built in 2000. The building consists of a mix of one- and two-bedroom apartments. Nat Gambuzza and Manny Sanghera of CBRE represented the undisclosed seller in the transaction. Jamie Leachman of HFF arranged acquisition financing for Spirit Bascom through Citizens Bank.

January 23, 2019

Acquisitions Connecticut Industrial Northeast

Angel Commercial Brokers $4.8M Sale of Industrial Facility in Stamford

by David Cohen January 23, 2019

STAMFORD, CONN. — Angel Commercial has brokered the $4.8 million sale of an industrial facility in Stamford. Located at 72 Camp Ave., the 33,822-square-foot, two-story property is in the Springdale section of Stamford . The two tenants in the building are Building Blocks Learning Center and Upper Deck Fitness. Jon Angel of Angel Commercial represented both the buyer, 132 Jamaica Avenue Realty Corp., and the seller, 72 Camp Avenue LLC.

January 23, 2019

Acquisitions Industrial Massachusetts Northeast

Stubblebine Co. Negotiates $4.4M Sale of Industrial Property in Massachusetts

by David Cohen January 23, 2019

AUBURN, MASS. — The Stubblebine Co. has negotiated the $4.4 million sale of a 75,000-square-foot industrial facility in Auburn. Located at 33 Sword St., the three-acre property was the former Imperial Distributors distribution center before Imperial relocated to its current location in Worcester. David Skinner, David Stubblebine and James Stubblebine of Stubblebine Co. represented the undisclosed seller in the transaction. The buyer was F.W. Webb Co., a wholesale distributor of plumbing, heating, cooling and industrial products. F.W. Webb currently has a location at 43 Sword Street and plans to open a new wholesale store at 33 Sword Street.

January 23, 2019

Development Industrial Midwest Wisconsin

Ashley Capital Breaks Ground on 438,000 SF Industrial Building in Sturtevant, Wisconsin

by Kristin Harlow January 23, 2019

STURTEVANT, WIS. — Ashley Capital has broken ground on the second industrial building at Enterprise Business Park in Sturtevant. The 438,000-square-foot speculative building will be located at 11201 Enterprise Way. Completion is slated for late this year. John Sharpe and Tom Boyle of Lee & Associates and Terry McMahon and Cody Ziegler of Cushman & Wakefield |Boerkewill market the property for lease. Upon build-out, Enterprise Business Park will span 1.3 million square feet. The first building, totaling 376,000 square feet, is now leased to four tenants.

January 23, 2019

Development Midwest Multifamily Seniors Housing Wisconsin

New Perspective Begins Development of 149-Unit Senior Living Community in Franklin, Wisconsin

by Kristin Harlow January 23, 2019

FRANKLIN, WIS. — New Perspective Senior Living has begun development of a 149-unit senior living community in Franklin. The 180,000-square-foot property will be situated on six acres at 7220 Ballpark Drive South. The community will feature independent and assisted living apartments as well as Betty’s Harbor, a neighborhood specifically designed for residents with memory loss. In addition to a two-story lobby and reception area, the property will feature a wellness center, dining room, café, beauty salon, movie theater and dance hall. Milwaukee-based Stevens Construction is the general contractor. Completion is slated for spring 2020. Eden Prairie, Minn.-based New Perspective Senior Living will operate the property.

January 23, 2019

Industrial Leasing Activity Midwest Missouri

Würth Baer Supply Co. Signs 66,448 SF Industrial Lease in Kansas City

by Kristin Harlow January 23, 2019

KANSAS CITY, MO. — WürthBaer Supply Co. has signed a 66,448-square-foot industrial lease at 1758 N. Topping Ave. in Kansas City. Founded in 1950, the company is a specialty wholesale distributor to the woodworking industry. The Vernon Hills, Ill.-based company will relocate from its facility at 7440 E. 12th St. in Kansas City. Steven Podolsky of Podolsky Circle CORFAC International represented the tenant, which will take occupancy of the new space in June. Karbank Real Estate Co. assisted Podolsky Circle.

January 23, 2019

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