Property Type

CBRE Negotiates $21M Sale of Office Building in Hauppauge, New York

by Amy Works February 13, 2017

HAUPPAUGE, N.Y. — CBRE has arranged the sale of an office property located at 150 Motor Parkway in Hauppauge. UA Properties acquired the building from RA 150 Motor Parkway, an entity controlled by RNY Property Trust, for $21 million as part of a 1031 exchange. The 201,258-square-foot building features a theater-style media room and boardroom, café, health club and bank branch with drive-through ATM. Jeffrey Dunne, David Gavin, Travis Langer and Philip Heilpern of CBRE represented the seller and procured the buyer in the deal.

February 13, 2017

Massachusetts Northeast Retail

NGKF Capital Markets Facilitates Sale of Retail Property in Hingham, Massachusetts

by Amy Works February 13, 2017

HINGHAM, MASS. — NGKF Capital Markets has arranged the sale of Lincoln Plaza, a retail center located Hingham. Trustees of Curtlo LLC sold the property to an undisclosed buyer. A 68,087-square-foot Stop & Shop and a 31,882-square-foot Marshalls anchor the property, which also includes two freestanding retail pads occupied by 99 Restaurant and Rockland Trust. Geoffrey Millerd, Justin Smith, Paul Penman and Matthew Waisnor of NGKF Capital Markets represented the seller in the deal. The acquisition price was not released.

February 13, 2017

Industrial Loans New Jersey Northeast

Tulfra Receives $9.5M in Refinancing for Industrial Property in Northern New Jersey

by Amy Works February 13, 2017

TOTOWA, N.J. — Tulfra Real Estate has received a $9.5 million loan for the refinancing of an industrial building located at 930 N. Riverview Drive in Totowa. Jon Mikula and Michael Klein of HFF arranged the five-year, fixed-rate loan through Lakeland Bank for the borrower. The property features 91,297 square feet of light industrial space.

February 13, 2017

Loans Multifamily Northeast Pennsylvania Seniors Housing

Monticello Provides $9M Loan for Skilled Nursing Facility in Pennsylvania

by Amy Works February 13, 2017

CANONSBURG, PA. — Monticello Asset Management LLC has provided $9 million in first lien debt financing to Greenery Realty Group LLC, which will use the capital to acquire and renovate a skilled nursing facility in the Pittsburgh suburb of Canonsburg. The financing is a bridge-to-HUD loan for Greenery, a skilled nursing operator. The 140-bed facility was built in 1985 and renovated in 1995. Upon closing, the borrower implemented an initial construction project of $1.2 million and is currently in the process of making more capital expenditures. The property consists of a 52,909-square-foot, single-story skilled nursing building, a 1,700-square-foot maintenance building and a 4,000-square-foot, two-story medical office building.

February 13, 2017

Industrial Massachusetts Northeast

R.W. Holmes Realty Arranges $4.6M Sale of Industrial Building in Medway, Massachusetts

by Amy Works February 13, 2017

MEDWAY, MASS. — R.W. Holmes Realty has brokered the sale of an industrial and warehouse building located at 7 Industrial Park Road in Medway. Industrial Park Realty acquired the building from Riverside Properties for $4.6 million. MicroGroup, a medical device component manufacturer, occupies the entire 77,253-square-foot building. John Eysenbach of R.W. Holmes represented the buyer and seller in the deal.

February 13, 2017

Retail Texas

IKEA Proposes Plans for Fort Worth Store to Open in Summer 2019

by Amy Works February 13, 2017

FORT WORTH, TEXAS — IKEA has submitted a proposal to the City of Fort Worth for the development of IKEA Fort Worth on 27 acres at the southwest corner of Interstate 35 and North Tarrant Parkway in Fort Worth. Pending necessary approvals and agreement, construction of the retail location could begin in spring 2018, with an opening of summer 2019. The 289,000-square-foot store would offer 900 parking spaces and create more than 250 jobs upon opening. This location would be the third in the Dallas-Fort Worth area and the sixth in the state of Texas.

February 13, 2017

Office Texas

Pierson Retail Advisors Merges with Vitorino Group, Launch New Firm

by Amy Works February 13, 2017

DALLAS — Pierson Retail Advisors and Vitorino Group have entered a definitive agreement to merge and combine operations. The merged companies will operate as Strive, a new full-service retail real estate brokerage firm headquartered in Dallas. Combined the two firms have sold close to $3 billion in commercial real estate. The merger will be complete by the summer, with plans to unveil the new branding and image by then. Jennifer Pierson leads Pierson Retail Advisors, and Jason Vitorino leads Vitorino Group.

February 13, 2017

Office Texas

ECR Negotiates Sale of 53,164 SF Office Building in Austin

by Amy Works February 13, 2017

AUSTIN, TEXAS — Equitable Commercial Realty (ECR) has arranged the sale of an office building located on Bee Cave Road in Austin. An undisclosed buyer acquired the 53,164-square-foot building. Matt Fain of ECR represented the buyer. The name of the seller and the acquisition price were not released.

February 13, 2017

Industrial Texas

CBRE Brokers Four Industrial Leases in Oklahoma City

by Amy Works February 13, 2017

OKLAHOMA CITY — CBRE has arranged four industrial leases in Oklahoma City totaling 97,392 square feet. In the first lease, Mick’s Vault Works leased 6,000 square feet of industrial space at 13915 N. Harvey Ave. from HUDICO. In the second lease, Terra Pilot MWD Tools renewed a lease for 5,030 square feet of industrial space at 5 N. Cooley Drive from TIC – 485 Fall Creek LLC & Desert Mountain Investments. In the third deal, CentiMark Corp. leased 5,936 square feet of space at 14800 Bristol Park from Pinnacle Investments. Jason Hammock, Caitlin Mazaheri and John Lenochan of CBRE represented the landlords in all three deals. In the final transaction, Biagi Warehouse leased 80,426 square feet of industrial space at 6001 SW 36th St. from GIJV OKC 1. David Portman of CBRE represented the landlord in the deal.

February 13, 2017

Office Texas

Retail Solutions Opens New Office in El Paso

by Amy Works February 13, 2017

EL PASO, TEXAS — Retail Solutions has opened an office in El Paso. With offices in Austin, Houston, Dallas, San Antonio, McAllen and Midland, Texas, the commercial real estate company handles the leasing and sale of approximately 750 commercial spaces across Texas and Louisiana. Additionally, the company represents more than 250 retail and restaurant brands in the two states and across the country. Chris Duncan is Retail Solutions’ market leader at the new El Paso location.

February 13, 2017

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