Property Type

HFF Secures $75M Refinancing for Warwick Mall in Warwick, Rhode Island

by Amy Works November 15, 2017

WARWICK, R.I. — HFF has arranged $75 million in refinancing for Warwick Mall, a super regional mall located at 400 Bald Hill Road in Warwick. The borrower is a joint venture between Bliss Properties, Mark T. Brennan & Co. and Lane Family Trust. Jennifer Keller and Andrew Gray of HFF arranged the 10-year, fixed-rate loan through Bank of America. Originally developed in the 1970s and renovated in 2011, the 978,659-square-foot mall is occupied by 86 tenants, including Nordstrom Rack, Macy’s, Jordan’s Furniture, Target, H&M, Old Navy and JCPenney. Additionally, the mall features a 12-screen Showcase Cinema, 12 restaurants and 5,000 parking spaces.

November 15, 2017

Loans Northeast Pennsylvania Retail

Cronheim Arranges $33.5M Loan for Retail Center in Fairless Hills, Pennsylvania

by Amy Works November 15, 2017

FAIRLESS HILLS, PA. — Cronheim Mortgage has arranged a $33.5 million mortgage loan for Fairless Hills Towne Center, a retail center located in Fairless Hills. The borrower is a joint venture between Larken Associates and Red Starr Investment. The loan was placed with an investment bank and structured with a seven-year term and 30-year amortization schedule after an 18-month interest-only payment period. The permanent loan refinanced the bridge loan used to acquire and reposition the property. The borrowers acquired the 294,000-square-foot center, which is anchored by Giant Food/Pharmacy, in 2015.

November 15, 2017

Civic New York Northeast Office

SUNY New Paltz Breaks Ground on $14M Engineering Innovation Hub

by Amy Works November 15, 2017

NEW PALTZ, N.Y. — The State University of New York (SUNY) at New Paltz, along with PC Construction, has broken ground on a $14 million Engineering Innovation Hub, located on the university’s campus in New Paltz. The two-story structure will add to the school’s growing mechanical engineering program, house the headquarters and laboratories of the university’s Hudson Valley Advanced Manufacturing Center, provide space for potential business partners under the state’s START-UP NY program, and serve as a business incubator for technology and engineering startups in the mid-Hudson Valley. Urbahn Architects designed the 19,500-square-foot facility, which allows for potential expansion. The project team includes Vanderweil Engineers, CSA Group, Leslie E. Robertson Associates, YR&G, BET Engineering Consultants, Edgewater Design, Lumen Architecture and Ellana Inc.

November 15, 2017

Industrial Northeast Pennsylvania

Hinerfield Commercial Facilitates Sale of 166,499 SF Industrial Property in Dunmore, Pennsylvania

by Amy Works November 15, 2017

DUNMORE, PA. — Hinerfield Commercial has arranged the sale of an industrial property located at 150 Grove St. in Dunmore. A coffee manufacturer from New Jersey acquired the property for an undisclosed price. The buyer plans to move its operations to the 166,499-square-foot facility. The facility was originally constructed in 1919 as a silk mill. The name of the seller and acquisition price were not released.

November 15, 2017

New York Northeast Retail

Island Associates Brokers $5.7M Acquisition of Retail Property in New Windsor, New York

by Amy Works November 15, 2017

NEW WINDSOR, N.Y. — Island Associates has brokered the acquisition of a retail property located at 170 Windsor Highway in New Windsor. An undisclosed buyer purchased the property for $5.7 million. QuickCheck occupies the 7,254-square-foot property, which is situated on 2.9 acres. Roger Delisle of Island Associates represented the buyer, while Matthew Gorman of CBRE represented the undisclosed seller in the deal.

November 15, 2017

Multifamily Texas

JPI to Develop 387-Unit Apartment Complex Within Las Colinas in Irving

by Taylor Williams November 15, 2017

IRVING, TEXAS — JPI will develop Jefferson Promenade, a 387-unit multifamily complex that will be located within the 12,000-acre Las Colinas development in Irving. Individual residences at the property, which is situated near the Toyota Music Factory entertainment center, average 896 square feet per unit. Amenities will include a fitness center with yoga facilities and private patios with ground-floor yards. A timetable for delivery has not yet been established.

November 15, 2017

Office Texas

PAC Affiliate Purchases 258,000 SF Office Property in San Antonio

by Taylor Williams November 15, 2017

SAN ANTONIO — Preferred Office Properties LLC, an affiliate of publicly traded investment firm Preferred Apartment Communities LLC (PAC), has purchased Westridge at La Cantera, a 258,000-square-foot office development in San Antonio. The Class A property, which is located on the city’s northwest side directly across from the Shops at La Cantera retail center, was 100 percent leased at the time of sale. Allianz Real Estate of America LLC provided a $54.4 million first mortgage loan, which carries a fixed 4.1 percent interest rate, an 11-year term and a 25-year amortization schedule, for the transaction.

November 15, 2017

Retail Texas

STRIVE Arranges Sale of 196,006 SF Retail Center in Metro Dallas

by Taylor Williams November 15, 2017

WAXAHACHIE, TEXAS — STRIVE has arranged the sale of Northgate Plaza, a 196,006-square-foot retail center situated on 18.6 acres at 507 U.S. Highway 77 in the southern Dallas metro of Waxahachie. Anchored by Big Lots, the property was 88 percent leased at the time of sale to tenants such as Aaron’s, Verizon Wireless and Schlotzsky’s. Jennifer Pierson of STRIVE represented the seller and procured the buyer, both of whom were private investors based in California.

November 15, 2017

Office Texas

Colliers Brokers Sale of 161,000 SF Office Complex in Dallas

by Taylor Williams November 15, 2017

DALLAS — Colliers International has brokered the sale of Empire Central, a two-building, 161,000-square-foot office complex located at 1430 and 1440 Empire Central Drive in Dallas. John Bowles, Bruce Butler and Susan Gwin Burks of Colliers represented the undisclosed seller in the transaction. Peewit Partners LP purchased the asset for an undisclosed price. The Class B property was built in 1981.

November 15, 2017

Multifamily Texas

DIJ Acquires Two Multifamily Properties in San Antonio Totaling 678 Units

by Taylor Williams November 15, 2017

SAN ANTONIO — DIJ Properties, a Miami-based asset management firm, has acquired two multifamily properties totaling 678 units in San Antonio. The company acquired the 546-unit Wood Hollow Apartments and the 132-unit Sunny Glen Apartments, both of which are located on the 10000 block of Sahara Street on the city’s north side. The company plans to make capital improvements to both properties and create new picnic areas, laundry rooms, pools, playgrounds and fitness centers.

November 15, 2017

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