Property Type

Rockpoint Group Sells 157,067 SF Office Building in Boston’s Seaport District

by Amy Works June 5, 2017

BOSTON — Rockpoint Group has completed the disposition of Tower Point, an office building located in the Upper Seaport District of Boston. Germany-based Universal-Investment and an institutional account managed by Northwood Investors acquired the 157,067-square-foot asset for an undisclosed price. The sellers rehabilitated the historic manufacturing facility into a first-class office building, which is 100 percent leased. Robert Griffin, Edward Maher, Matthew Pullen and James Tribble of NKF Capital Markets, along with Timothy Bianchi of Newmark Knight Frank, represented the seller in the transaction.

June 5, 2017

California Loans Retail Western

Quantum Capital Secures $13M to Refinance Beverly Hills Retail Portfolio

by Nellie Day June 5, 2017

BEVERLY HILLS, CALIF. — Quantum Capital Partners has secured a $13 million CMBS loan for four fully leased retail buildings in Beverly Hills. The borrower is a Beverly Hills-based private investor operating as MC Ventures LLC. The loan will refinance existing debt on the portfolio, which is located on La Cienega Boulevard. Tenants include restaurants Matsuhisa, Fogo de Chao and Gyu-kaku, along with beauty salon YUMILashes.

June 5, 2017

Industrial New Jersey Northeast

Domino’s Pizza Leases 182,000 SF Warehouse in New Jersey

by Amy Works June 5, 2017

EDISON, N.J. — Domino’s Pizza has signed a lease for a 182,000-square-foot warehouse, located at 1075 King George Post Road in Edison. Domino’s plans to use the facility, which was developed by Liberty Property Trust, as a food processing and distribution center. Ken Ashley, John Wilkinson, Sam Hollis, Whitney Hembree, Matt Marshall and Jeff Williams of Cushman & Wakefield represented the tenant, while Chuck Fern, also of Cushman & Wakefield, represented the landlord in the lease.

June 5, 2017

Loans Multifamily New York Northeast

Urban View Development Closes $10.2M in Construction Loans for Two Condo Developments

by Amy Works June 5, 2017

NEW YORK CITY — Urban View Development has received $10.2 million in construction loans for two ground-up condominium developments in Brooklyn’s East Bushwick neighborhood. SKW Funding provided the loans, $5 million and $5.2 million, for the two projects at 301 Covert St. and 1229 Putnam Ave. Urban View Development plans to construct 38 condominium units, 19 at each site, which are currently vacant lots. Each project will offer 17 one-bedroom units and two two-bedroom units, with prices ranging from $470,000 to the mid-$700,000s. Menelik Tefera of SKW Funding originated and the led the due diligence and execution of the loans.

June 5, 2017

Multifamily New Jersey Northeast

Gebroe-Hammer Facilitates Sales of Three Multifamily Properties in New Jersey

by Amy Works June 5, 2017

CLIFFSIDE PARK AND PATERSON, N.J. — Gebroe-Hammer Associates has brokered the sales of three multifamily properties located in Cliffside Park and Paterson. Debbie Pomerantz of Gebroe-Hammer represented the sellers in both transactions. Nicholas Nicolaou, also of Gebroe-Hammer, represented the buyer in the Cliffside Park deal, while Pomerantz represented the buyer in the Paterson transaction. In Cliffside Park, an undisclosed buyer acquired a three-story building, located at 319 Palisade Ave., with 19 condominium-style units for $5.45 million, or $286,842 per unit. The one- and two-bedroom units feature hardwood floors, spacious layouts, central air conditioning and in-unit washers/dryers. Community amenities include a ground-level parking garage with direct elevator access. The name of the seller was not released. In Paterson, an undisclosed seller sold two buildings, located at 764-768 21st St. and 549-553 E. 38th St., for $3.2 million to an undisclosed buyer. The properties offer a total of 34 separately metered residential units.

June 5, 2017

New Jersey Northeast Retail

Marcus & Millichap Arranges $4.2M Sale of Retail Strip Center in Cherry Hill, New Jersey

by Amy Works June 5, 2017

CHERRY HILL, N.J. — Marcus & Millichap has brokered the sale of 926 Plaza, a retail strip center located at 926 Haddonfield Road in Cherry Hill. An undisclosed buyer acquired the property for $4.2 million, or $298 per square foot. The UPS Store, Sherwin Williams, Primo Hoagies and local businesses occupy the 14,123-square-foot property. Shannon Bona, Mark Taylor and Derrick Dougherty of Marcus & Millichap represented the undisclosed seller, while Michael Lombardi, also of Marcus & Millichap, represented the buyer in the transaction.

June 5, 2017

Industrial Texas

SEDCO, Thea to Develop 1 MSF Data Center Campus in Sherman

by Taylor Williams June 5, 2017

SHERMAN, TEXAS — The Sherman Economic Development Corp. (SEDCO) and Thea Development LLC have announced plans for Cassini Gateway I, a campus capable of accommodating more than 1 million square feet of data center space. The campus will be housed within Progress Park, a 3,300-acre industrial park in the North Texas city of Sherman. The project is expected to draw capital investment in excess of $1 billion and create approximately 300 construction jobs and 150 engineering and technology jobs over five years.

June 5, 2017

Multifamily Texas

Marcus & Millichap Arranges Sale of 240-Unit Apartment Community in Burleson, Texas

by Taylor Williams June 5, 2017

BURLESON, TEXAS — Marcus & Millichap has arranged the sale of Dolce Living Burleson, a 240-unit multifamily community in Burleson, a city roughly 15 miles south of Fort Worth. Built in 2013 on 6.5 acres about five miles west of the Interstate 35 interchange, the property’s units average approximately 1,000 square feet. Will Balthrope, Drew Kile and Joey Tumminello of Marcus & Millichap represented the seller and procured the buyer in the transaction.

June 5, 2017

Loans Multifamily Seniors Housing Texas

Casa Solace Receives $7M Construction Loan for Memory Care Facility in Houston

by Taylor Williams June 5, 2017

HOUSTON — Casa Solace Memory Care has received a $7 million construction loan for a new memory care facility on Space Center Boulevard in Houston. The first phase of construction will deliver a 36-bed facility and a community center totaling 25,600 square feet. Upon completion, the project will feature 90 beds for assisted living and memory care. Kevan McCormack of Metropolitan Capital Advisors Ltd. arranged the loan through an unspecified local bank.

June 5, 2017

Retail Texas

STRIVE Brokers Sale of 57,920 SF Retail Center in Canton, Texas

by Taylor Williams June 5, 2017

CANTON, TEXAS — Dallas-based investment firm STRIVE has brokered the sale of Trader’s Square Shopping Center, a 57,920-square-foot retail asset located at 301 State Highway 243 in Canton, a city about 60 miles east of Dallas. The center was 79 percent leased at the time of sale to tenants such as GameStop, Nail Depot and It’s Fashion. Bryce Gissler, Will Merritt and James Mangum of STRIVE represented the seller, a Texas-based investment firm, in the transaction. Other terms of sale were not released.

June 5, 2017

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