Property Type

NAI RGV Arranges Sale of 44,041 SF Retail Property in McAllen

by Taylor Williams August 3, 2017

MCALLEN, TEXAS — NAI Rio Grande Valley (RGV) has arranged the sale of The District at McAllen, a 44,041-square-foot retail property located at 3300 N. McColl Road in McAllen. Laura Liza Paz of NAI RGV represented the undisclosed seller in the transaction. Daniel Galvan of Coldwell Banker Commercial La Mansion represented the buyer, Keller, Texas-based Ryan Investments. Built in 2006, The District at McAllen will house a 20,000-square-foot UFC Gym as the new owner rebrands it from an entertainment venue into a retail and office development.

August 3, 2017

Industrial Texas

Hartman Income REIT Negotiates 33,803 SF Industrial Lease in Houston

by Taylor Williams August 3, 2017

HOUSTON — Hartman Income REIT, a Texas-based management firm, has negotiated a 33,803-square-foot industrial lease at 2300 Quitman St. in Houston. Hartman, which owns the property, was represented internally. The representative of the tenant, Roy USA Inc., a California-based importer, was not disclosed.

August 3, 2017

California Loans Retail Top Stories Western

Westwood Financial Receives $171M in Financing for 13-Property Retail Portfolio

by John Nelson August 3, 2017

LOS ANGELES — Westwood Financial, a shopping center investment firm based in Los Angeles, has received $171 million in financing in two separate loan transactions. The company will use the debt to refinance or fund acquisitions for 13 retail properties totaling nearly 1.1 million square feet in Arizona, California, Florida, Georgia, Illinois, North Carolina and Texas. Nationwide Life Insurance Co. provided a $94 million loan for Westwood Financial to refinance or acquire seven multi-tenant retail shopping centers, including: • the 77,043 square-foot Camelback Village anchored by AJ’s Fine Foods in Phoenix; • the 116,707-square-foot Elk Crossing anchored by Jewel-Osco in Elk Grove, Ill., near Chicago; • the 97,229-square-foot Atascocita Center anchored by Kroger in Humble, Texas, near Houston; • the 101,791-square-foot Market at Lake Houston anchored by H-E-B in Atascocita, Texas, near Houston; • the 87,632-square-foot Lynwood Collection anchored by Kroger in Raleigh, N.C.; • the 55,323-square-foot, Trader Joe’s-anchored Arbors at Mallard Creek in Charlotte, N.C.; and • the 47,518-square-foot Village at Preston Hollow shadow-anchored by Central Market in Dallas. Additionally, an undisclosed, major life insurance firm provided a $77 million loan for the refinancing of six properties, including: • the 89,506-square-foot Mercado del Rancho anchored by Sprouts Farmers Market …

August 3, 2017

Market Reports New York Northeast Northeast Market Reports Retail

High-End, Specialty Retailers See More Promise in Western New York

by Taylor Williams August 2, 2017

A trend in retail activity in Western New York and the Finger Lakes Region over the past six to 12 months has been the announcement or arrival of a number of high-end or specialty retailers and restaurants. Although traditionally these retailers are more selective about the markets they enter, as they continue to grow nationally they have to expand the list of potential markets they will consider. Some of them find that the Buffalo and Rochester metropolitan areas are markets in which high-end or specialty retailers or restaurants can thrive, particularly when Upstate New York’s lower occupancy costs and lighter competition are sufficient to offset potentially lower unit volumes. Whole Foods’ much-anticipated Western New York debut will be this summer in the Northtown redevelopment project by W.S. Development in Amherst. Whole Foods has also signed a lease in Brighton, a suburb of Rochester, for a 50,000-square-foot store at Palazzo Plaza, a proposed 90,000-square-foot shopping center on Monroe Avenue at Interstate 590. The project, being developed by the Daniele Family Companies, is currently making its way through the entitlement process. In a sign of the renaissance in progress in both Downtown Buffalo and Downtown Rochester, the first-ever national brand polished steakhouse …

August 2, 2017

Healthcare Maine Northeast Office

LincolnHealth Breaks Ground for $13.7M Medical Office Building in Damariscotta, Maine

by Amy Works August 2, 2017

DAMARISCOTTA, MAINE — LincolnHealth has broken ground for the construction of a $13.7 million medical office building at the Damariscotta campus. Designed by E4H Environments, an architecture firm focused on the healthcare industry, the 39,800-square-foot facility will house primary, specialty and behavioral care services that are current spread across four buildings. The building will feature two practice floors and universal exam rooms for primary and specialty care; a community room for large group activities; and the psychiatry practice for Maine Behavioral Healthcare; as well as pediatric, internal medicine, OBGYN, surgery, orthopedics, ENT and urology practices. Lewiston, Maine-based Hebert Construction Corp. is serving as construction manager for the project, which is slated for completion in June 2018.

August 2, 2017

Loans Multifamily New Jersey Northeast

KeyBank Arranges $54.8M in Refinancing for New Jersey Apartment Community

by Amy Works August 2, 2017

EAST ORANGE, N.J. — KeyBank Community Development & Lending Investment has provided a $54.8 million bridge loan for Essence 144, an apartment community located at 144 S. Harrison St. in East Orange. The borrower is Blackstone 360, a design-build firm based in Newark, N.J. Essence 144 is an adaptive reuse project in which the abandoned 12-story existing structure was redeveloped into a 144-unit apartment community. Tom Peloquin and John Gilmore IV of KeyBank arranged the refinancing.

August 2, 2017

Industrial New Jersey Northeast

GTJ REIT Enters Cherry Hill, New Jersey, Submarket with 109,700 SF Industrial Building Acquisition

by Amy Works August 2, 2017

CHERRY HILL, N.J. — GJT REIT has acquired a 109,700-square-foot industrial building located in Cherry Hill for an undisclosed price. The facility is currently leased and occupied by Avalon Flooring for a 15-year term. The building houses installation training and distribution services for Avalon’s 14 retail stores throughout New Jersey, Pennsylvania and Delaware. Avalon has invested in various improvements to the building including LED lighting, new racking, a new HVAC system, an upgraded façade and a new office build-out. The building is located with Cherry Hill Business Park, which consists of 31 buildings totaling 1.9 million square feet. The name of the seller was not released. GTJ REIT now owns 48 properties totaling more than 5.6 million square feet.

August 2, 2017

Loans Maine Northeast Retail

HFF Arranges Sale, Secures Acquisition Financing for Mallside Plaza in Maine

by Amy Works August 2, 2017

South Portland, Maine — HFF has arranged the $16.5 million sale of Mallside Plaza, a 98,948-square-foot shopping center located in South Portland, Maine. The company also secured $12.6 million in acquisition financing for the deal. Tenants at the fully leased center include DSW Shoe Warehouse, Five Below, Guitar Center, Dollar Tree and Mattress Firm. The sale also included an outparcel single-tenant building net leased to Five Guys Burgers. Jim Koury of HFF marketed the property on behalf of the seller, Kimco Realty Corp., and procured the buyer, Northeast Capital Group. Porter Terry of HFF worked on behalf of the new owner to secure a 10-year, fixed-rate acquisition loan through Katahdin Trust Company.

August 2, 2017

Industrial Massachusetts Northeast

Jash USA Acquires 234,000 SF Industrial Facility in Orange, Massachusetts, for $1.6M

by Amy Works August 2, 2017

ORANGE, MASS. — Jash USA has purchased a heavy manufacturing facility located at 46 Mill St. in Orange from VAG USA for $1.6 million. Situated on 37.7 acres, the facility features 234,000 square feet of industrial space. Sentry Commercial and Newmark Knight Frank were the sole brokers in the transaction.

August 2, 2017

Arizona Multifamily Western

JV Sells Ovation at Tempe Apartment Community for $36M

by Nellie Day August 2, 2017

TEMPE, ARIZ. — A joint venture between Passco Cos. and InSite Property Ventures has sold the 270-unit Ovation at Tempe to an undisclosed buyer for $36 million. The community is located at 4502-4505 S. Hardy Drive in Tempe. The JV initially acquired the asset for $25.8 million in 2014. Rents in metro Phoenix have increased by 5.6 percent over this past year alone, according to the sellers. The JV implemented a series of interior and exterior improvements to the apartment community during its ownership. This included upgrading unit interiors, constructing additional carports, and enhancing the property’s exterior and community amenities.

August 2, 2017

Newer Posts

Older Posts