Property Type

NorthMarq Arranges $4M Permanent Loan for Seniors Housing Community in Deland, Florida

by Camren Skelton February 28, 2018

DELAND, FLA. — NorthMarq Capital has arranged a $4 million permanent loan for Whisperwood Manufactured Home Park, a 396-unit seniors housing/manufactured home park located at 3070 Whisper Blvd. in Deland, roughly 40 miles north of Orlando. Larry Curry of NorthMarq arranged the loan on behalf of the undisclosed borrower through its correspondent relationship with a life insurance company. The community features a 9-hole pitch and putt golf course, two swimming pools, billiard and poker tables, lighted tennis courts, shuffleboard courts, bocce ball courts, horseshoes, library and a fully equipped kitchen.

February 28, 2018

Industrial Texas Top Stories

Dart Container Buys Largest Warehouse in Texas

by Nellie Day February 28, 2018

CORSICANA, TEXAS — Dart Container has purchased a 1.4 million-square-foot industrial building in Corsicana for an undisclosed sum. The building formerly housed Home Depot’s distribution center. It is situated on 139 acres just south of Dallas. The building consists of 13,248 square feet of modern, air-conditioned office space with paved and lighted parking for 560 cars and 1,130 trailers. The asset’s rail access is served by Union Pacific on the northwest boundary. The facility is situated on Business Highway 45 South, near I-45 and State Highway 31, and provides direct access to the Dallas/Fort Worth International Airport. The seller, Eliken Property Management, is a private, self-administered and self-managed real estate firm that owns and manages high-quality industrial properties. Eliken’s current portfolio includes more than 3.5 million square feet across the Midwest and Southeast. The firm is looking to expand its presence in Texas and Arkansas, as well as other target markets. Holmes Davis of Binswanger represented Eliken in the transaction. Mason, Mich.-based Dart Container produces a variety of plastic and foam cups and food containers, including Solo party cups. The company plans to invest $38 million in its new Texas space. Dart operates more than 40 locations in six countries, …

February 28, 2018

Market Reports Massachusetts Northeast Northeast Market Reports Retail

Evolution of Seaport District as a Retail Hotspot, Other Trends to Watch

by Taylor Williams February 28, 2018

From new mixed-use developments popping up in the skyline to the increase of small-format stores, 2017 saw robust growth in downtown Boston’s retail landscape. Specifically, stabilizing rental rates have led to an uptick in retail leasing activity, showing the strength of both traditional retail destinations such as Newbury Street, as well as new mixed-use developments like One Seaport Square. While the downtown retail market is poised to remain stable, 2018 will welcome new trends fueled by e-commerce and omnichannel retailers, new leasing models, shifting consumer shopping behaviors and the ongoing challenge to accommodate millennials’ evolving preferences and expectations. The Seaport’s Emergence as a Retail Destination Historically, Back Bay has served as Boston’s premier neighborhood for retail with Newbury Street as its crown jewel and nearby Prudential Center, Copley Place and Boylston, all within a few minutes’ walking radius from the famous street. While Back Bay will continue to be a hotspot in 2018, Boston’s Seaport neighborhood is breaking out as a retail destination to watch as it transitions into one of Boston’s premier work-live-play destinations. Most recently, retailers Bluemercury, Mr. Sid, TravisMathew, Filson, L.L. Bean, and Lululemon are finding the value in meeting Boston’s young professionals where they work, live and …

February 28, 2018

Multifamily Texas

SWBC to Develop 590-Unit Apartment Community in Metro Dallas

by Taylor Williams February 27, 2018

ROCKWALL, TEXAS — SWBC Real Estate LLC has acquired 21.3 acres in the northeastern Dallas metro of Rockwall for the development of The Remington at Rockwall Downs, a 295-unit multifamily community. Designed by Plano-based Cross Architects, the Class A property will be built in two 295-unit phases. Units of Phase I will average about 1,006 square feet per residence. Amenities will include a resort-style pool and spa, fitness center with spin studio, jogging trails and a dog park. Construction of Phase I is expected to begin in May and wrap up by January 2020.

February 27, 2018

Office Texas

Hillwood Breaks Ground on 200,000 SF Office Building for Mercedes-Benz Financial at AllianceTexas

by Taylor Williams February 27, 2018

FORT WORTH, TEXAS — Hillwood has broken ground on a 200,000-square-foot office building for Mercedes-Benz Financial in Fort Worth. The build-to-suit property is located within the AllianceTexas master-planned community and will serve as the company’s national business operations center. Mercedes-Benz Financial has operated out of AllianceTexas since 2007, and the development of this property ensures that roughly 900 direct and indirect jobs will be retained in Fort Worth.

February 27, 2018

Multifamily Seniors Housing Texas

Greystone Brokers Sale of 114-Unit Seniors Housing Portfolio in DFW

by Taylor Williams February 27, 2018

GARLAND, GRAPEVINE AND MCKINNEY, TEXAS — Greystone Real Estate Advisors has brokered the sale of the Grand Brook Portfolio, a trio of memory care communities in the DFW metroplex totaling 114 units. The Class A properties were developed between 2004 and 2006 and are located in Garland, Grapevine and McKinney. Cody Temper and Mike Garbers of Greystone represented the seller in the transaction. Other terms of sale were not released.

February 27, 2018

Loans Office Washington Western

Investcorp, Schnitzer West Secure $170M Refinancing for Seattle Office Tower

by Nellie Day February 27, 2018

SEATTLE — A joint venture between Investcorp International Realty and Schnitzer West has secured $170 million in refinancing for a 540,589-square-foot office tower in downtown Seattle. The Class A tower is located at 901 Fifth Ave. The tower was originally built in 1998. The core office asset was recently renovated with more than $7 million in improvements, including updates to the lobby, conference center and executive board room. It is almost fully leased to credit tenants like the City of Seattle, St. Jude, State Farm Mutual, SVB Financial Group, AllState Insurance, Washington State University, the Federal Home Loan Bank of Des Moines and Pitchbook Inc. HFF’s Michael Gigliotti, Tom Wilson and Michael Tepedino secured the loan through HSBC.

February 27, 2018

California Retail Western

Colliers Brokers $19.9M Sale of 17,462 SF Retail Center in San Diego

by Nellie Day February 27, 2018

SAN DIEGO — Colliers International has arranged the $19.9 million sale of a 17,462-square-foot retail property located in San Diego’s Gaslamp Quarter. Bill Shrader, David Maxwell, Joe Brady and Serena Patterson of Collers arranged the transaction on behalf of both the seller, ASP/Blatteis 665 Urban 5th Venture LLC, and the undisclosed buyer. The three-unit property is home to Ghirardelli Café and Urban Outfitters. Colliers will handle leasing for the 2,692-square-foot unit located between the two retailers, which will become available in March.

February 27, 2018

California Loans Multifamily Seniors Housing Western

Cushman & Wakefield Arranges $11.6M Construction Financing for Assisted Living Community in Bakersfield

by Nellie Day February 27, 2018

BAKERSFIELD, CALIF. — Cushman & Wakefield has arranged $11.6 million in construction financing for The Palms at San Lauren, a 68-unit assisted living and memory care community in Bakersfield. The borrower was a joint venture between development firm Blue Mountain Enterprises Inc. and regional operator Pragma Management. The project is the third development project by the partnership. Pragma will manage the community once completed. PNC provided the capital for the loan. The Palms at San Lauren will be situated on a 3.5-acre site and will feature 44 assisted living units and 24 memory care units in a single-story building. The community will be situated next to a newly constructed skilled nursing facility. The Cushman & Wakefield team involved in the transaction included Aaron Rosenzweig, Jay Wagner, Sam Dylag and Alex Petrosian.

February 27, 2018

Arizona Industrial Western

Prologis Completes 710,000 SF Industrial Improvement Project in Phoenix

by Nellie Day February 27, 2018

PHOENIX — Prologis has completed 710,000 square feet of tenant improvements and shell space in Phoenix. The new space is situated within Prologis Riverside Distribution Center and Prologis Park Riverside. Prologis Riverside Distribution Center received a 115,000-square-foot build-out for bathroom refurbishment company Home Brand, which is expanding and relocating within metro Phoenix. In addition, the property received a 115,000-square-foot build-out for video game accessory company Performance Designed Products (PDP), which relocated from California to Arizona. The tenants occupy the entire 230,000-square-foot Prologis Riverside Building II. Shell construction was also completed on the 480,000-square-foot Building III at Prologis Park Riverside, an industrial distribution center at 55th Avenue and Lower Buckeye Road. The project also included a 15-week, $15 million tenant improvement for a national e-commerce tenant. Building III sits adjacent to Prologis Park Riverside Building II, which is fully occupied by StitchFix, and Prologis Park Riverside Building I, which is fully occupied by Marshalls. Graycor Construction Co. completed construction on all the projects.

February 27, 2018

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