HOUSTON — Alterra IOS (industrial outdoor storage) has acquired a 4.6-acre site in southeast Houston. The site at 9002 Wayfarer Lane houses 40,930 square feet of warehouse space, and an undisclosed, national trucking company recently renewed its lease at the property. Zane Carman of Partners Real Estate brokered the sale. The seller and sales price were not disclosed.
BERGEN, N.Y. — Dutch farm machinery and equipment provider Oxbo International will open a 195,000-square-foot, build-to-suit industrial project in Bergen, a western suburb of Rochester. The site spans 50 acres, and the new facility will replace Oxbo’s existing plant that is located about seven miles away and has been operational since 1969. Oxbo will enter into a 25-year ground-lease agreement with the owner, Ohio-based Geis Development, and expects to employ about 200 people at the plant at full capacity. Construction is slated for an October 2025 completion.
BINGHAMTON, N.Y. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $14 million sale of Price Chopper Plaza, a 127,000-square-foot shopping center located in the upstate New York community of Binghamton. Regional grocer Price Chopper has been the anchor tenant at the center, which was 97 percent leased at the time of sale, since 1987. Other tenants include Planet Fitness, Big Lots and Dollar Tree. Jim Koury of IPA represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
MOUNT OLIVE, N.J. — JLL has arranged a $9 million permanent loan for a 161,000-square-foot industrial building in the Northern New Jersey community of Mount Olive. Constructed in 1982, the building features clear heights of 19 to 22 feet, 112 surface parking spaces, 30 trailer parking spaces, 11 tailboard loading docks and three drive-in doors. Greg Nalbandian and Ben Morgenthal of JLL arranged the 10-year, fixed-rate loan through life insurance company TruStage on behalf of the borrower, Commercial Realty Group. The building was fully leased at the time of the loan closing to UnCommon Logistics.
NEW YORK CITY — Marcus & Millichap has brokered the $8.5 million sale of two industrial and office buildings in the Long Island City area of Queens. The adjacent properties are located at 37-11 Vernon Blvd. and 814 37th Ave. and include a total of 18,440 square feet of building space and a 6,560-square-foot open lot for shipping and parking. The buildings also feature 20-foot ceilings, conference rooms and overhead crane space. Jakub Nowak of Marcus & Millichap represented the seller, Vernon Associates LLC, in the transaction and procured the buyer, an undisclosed local private investor.
NEW YORK CITY — National general contractor JT Magen has completed The Paramount Club, a 32,000-square-foot hospitality project located on the concourse level of 1301 Avenue of the Americas in Midtown Manhattan. The Paramount Club features TVs, a pool table, fitness/wellness center, business lounge, classroom-style training room, 18-person boardroom and a variety of dining options, including an atrium restaurant, café, grab-and-go market and private dining spaces. Loffredo Brooks Architects designed the club, space for which was repurposed from existing lower levels at the property.
EUGENE, ORE. — Landmark Properties has completed The Standard at Eugene, a 703-bed student housing development located near the University of Oregon campus in Eugene. The community offers 247 units across 265,000 square feet of residential space in studio through five-bedroom configurations. Shared amenities include a rooftop swimming pool with a jumbotron, grilling areas, hammocks and cabanas; a fitness center with an indoor rock climbing wall; an academic lounge with private study rooms; a resident club and game room; and onsite parking. The community is Landmark’s second development in Oregon, following the delivery of The Retreat at Corvallis near Oregon State University. The development team for the seven-story community included Ankrom Moisan Architects and Landmark Construction, the in-house construction arm of Landmark Properties.
GREENWOOD VILLAGE, COLO. — Dunton Commercial has purchased Prentice Plaza, a Class A office building in Greenwood Village, a suburb 12 miles south of Denver. Granite Properties sold the asset for $14.3 million, or $88 per square foot. Located at 8101 E. Prentice Ave. within the Denver Tech Center, the 12-story, 162,184-square-foot building was 73 percent occupied at closing.
PHOENIX AND PRESCOTT, ARIZ. — Live Oak Bank has provided a $54 million bridge loan for an Arizona-based owner and operator of seniors housing communities. Loan proceeds were used to retire existing bank debt for a four-property campus portfolio in the metropolitan statistical areas (MSAs) of Phoenix and Prescott Valley. The loan provides a bridge-to-agency option and features a two-year initial term and 24 months of interest-only payments.
REDMOND, WASH. — Washington Holdings has received $43.5 million in refinancing for The Carter on the Park, a six-story apartment property in downtown Redmond. Bruce Ganong and Seth Heikkila of JLL Capital Markets Debt Advisory arranged the loan through PGIM Real Estate on behalf of the borrower. Located at 7508 159th Place NE, The Carter on the Park offers 180 one- and two-bedroom apartments with keyless entry, high-end finishes, stainless steel appliances, fiber internet, high-quality LTV hardwood-like flooring and private patios. Community amenities include a fitness center, rooftop deck, tech bar, two-story bike storage facility, coworking spaces and an interior courtyard with fire pits, grilling stations and ping pong. The 216,220-square-foot property was built in 2016.