PRINCE GEORGE, VA. — Lingerfelt has formed a joint venture with SCOA Real Estate Partners, a wholly owned subsidiary of Sumitomo Corp., for the development of a 347,760-square-foot industrial facility in Prince George. Situated at the confluence of I-295, I-95 and Route 460 on Richmond’s south side, the development is dubbed TriPoint Distribution Center. The project broke ground last September and is set for completion this August. The joint venture has selected CBRE to lease and market the development, which ARCO is constructing on behalf of ownership.
ORLANDO AND TAMPA, FLA. — Dalfen Industrial has purchased two fully leased industrial facilities in Orlando and Tampa totaling 67,420 square feet. The properties include a 35,100-square-foot facility at Orlando Central Park and a 32,320-square-foot property within Pinebrooke Business Park in east Tampa. Colliers’ industrial capital markets team represented Dalfen in the transaction. The seller and sales price were not disclosed. Dalfen plans to “significantly” expand its presence in the Florida market over the next 12 months, according to the Dallas-based firm.
FALLS CHURCH, VA. — Whole Foods Market plans to open a new 45,000-square-foot grocery store at 103 E. Broad St. in Falls Church, about nine miles west of Washington, D.C. The new store is set to open on Feb. 7 and will replace an existing Whole Foods store at 7511 Leesburg Pike in Falls Church that has operated for more than 25 years. The new store’s product assortment features more than 700 local items from the D.C., Maryland and Virginia (DMV) region. The landlord of the new Whole Foods was not disclosed, but multiple media outlets report the store will anchor the Broad & Washington mixed-use development by Insight Property Group. The new store will be situated on the ground level of a 334-unit apartment building that opened last August.
CHANTILLY, VA. — KLNB’s capital markets team has brokered the $9.2 million sale of a 21,540-square-foot medical office building located at 24801 Pinebrook Road in Chantilly, about 34 miles west of Washington, D.C. Seattle-based Elliott Bay Capital Trust purchased the facility, which was fully leased to Inova Health System at the time of sale. Joe Friedman and Josh Norwitz of KLNB represented the seller in the transaction. Friedman also represented the previous owner when it purchased the property in 2008.
PEARLAND, TEXAS — Northmarq has provided a $43.4 million Freddie Mac loan for the refinancing of Avenues at Shadow Creek Ranch, an apartment complex located in the southern Houston suburb of Pearland. According to Apartments.com, the property was built in 2013 and totals 300 units. Residences come in one-, two- and three-bedroom floor plans, and amenities include a pool, fitness center, outdoor grilling and dining stations, game room and a car care center. Greg Duvall led the Northmarq team that originated the seven-year, fixed-rate loan. The borrower was not disclosed.
HOUSTON — Berkadia has arranged a $16.1 million loan for the refinancing of a 48,440-square-foot life sciences facility in Houston. The property at 4551 Kennedy Commerce Drive is located on the city’s north side and was fully leased at the time of the loan closing to CellReady, a provider of gene therapy solutions. Sabrina Solomiany, Patrick Abeln and Mike Cerny of Berkadia arranged the five-year loan, which carried a 6.7 percent fixed interest rate and a 30-year amortization schedule, on behalf of the borrower, Houston-based DC Partners. The direct lender was not disclosed.
LAREDO, TEXAS — Atlanta-based investment firm MDH Partners has acquired a 70,000-square-foot industrial building in the Rio Grande Valley city of Laredo. Completed in 2023, the building is located within North Laredo Industrial Park and features 27-foot clear heights, 35 overhead doors, 3,500 square feet of office space and parking for 50 cars and 73 trailers. Alfonso Jasso with Forum CRE represented the undisclosed seller in the transaction. The building was fully leased at the time of sale.
HOUSTON — D&R Signs has inked a 44,978-square-foot industrial lease in Houston. The space is located within Constellation Post Oak, a two-building, 424,011-square-foot development in the Uptown area that features 32- to 36-foot clear heights. Zack Taylor and Barkley Peschel of Colliers represented the landlord, a partnership between Constellation Real Estate Partners and an affiliate of Crow Holdings Capital, in the lease negotiations. Heath Donica of Stream Realty Partners represented the tenant.
GARLAND, TEXAS — Illinois-based Industrial Outdoor Ventures (IOV) has purchased a 2.2-acre industrial outdoor storage (IOS) facility in Garland, a northeastern suburb of Dallas. The property at 2130 Hightower Drive houses a 7,368-square-foot building with eight drive-in doors. Caleb McCoy and Paul Davis of JLL represented the undisclosed seller in the transaction and are marketing the facility for lease.
WESTWOOD AND RIVER VALE, N.J. — JLL has brokered the $80 million sale of a portfolio of four multifamily properties totaling 276 units in Northern New Jersey. The properties are collectively known as the Westwood Multihousing Portfolio by virtue of three assets — Coventry Square, Stanford Court and The Madison Apartments — being located in Westwood. The fourth property, Village on the Green, is located in the adjacent town of River Vale. All properties were built between 1979 and 1987 and offer one- and two-bedroom units and amenities such as pools, fitness centers and dog parks. Jose Cruz, Mike Oliver, Steve Simonelli, Elizabeth DeVesty and Austin Pierce of JLL represented the seller, Kushner Cos., in the transaction. The buyer was not disclosed. The portfolio had an occupancy rate of 96 percent at the time of sale.