Property Type

Arizona State, American Campus Communities Open 1,600 Bed On-Campus Community

by Nellie Day August 14, 2017

TEMPE, ARIZ. — Arizona State University and American Campus Communities have opened The Fulton Schools Residential Community at Tooker House, a 1,600-bed residential community for undergraduate students in the university’s engineering school. The “dorm for engineers” features on-site digital classrooms and state-of-the-art maker spaces complete with 3D printers, laser cutters and design tools needed for a broad range of engineering courses and projects. The community also offers a 525-seat dining facility, Bluetooth-enabled laundry rooms that notify residents when their clothes are dry, advanced green building technology and high speed internet. Solomon Cordwell Buenz designed the property. In total, American Campus Communities has developed seven communities totaling 7,719 beds for ASU, an investment in excess of $540 million.

August 14, 2017

Industrial New Jersey Northeast Office

Weiss Realty Brokers Sale of Office, Flex Building in Pine Brook, New Jersey

by Amy Works August 14, 2017

PINE BROOK, N.J. — Weiss Realty has arranged the sale of an office and flex building located at 34 Maple Ave. in Pine Brook. iStar Realty acquired the property from a partnership between the principals of CHT Group and Jaime Weiss, managing member of 34 Maple Avenue LLC, for an undisclosed price. Situated on 10.4 acres, the property features 130,180 square feet of space. Prior to the sale, Weiss Realty acted as property manager and leasing agent for the ownership. Greg Sabato and Scott Peck of Resource Realty of Northern New Jersey represented the buyer in the transaction. Meyner & Landis of Newark, N.J., acted as legal advisor to the seller, while Roseland, N.J.-based Mandelbaum Salsburg acted as counsel to the buyer.

August 14, 2017

California Retail Western

Faris Lee Arranges $20.7M Sale of Southridge Plaza in Fontana

by Nellie Day August 14, 2017

FONTANA, CALIF. — Faris Lee Investments has brokered the sale of Southridge Plaza, a grocery and drug-anchored retail center located at 11617 Cherry Ave. in Fontana. Fortress Investment Group sold the property to Fontana Southridge Partners LP for $20.7 million. Rio Ranch Market, Rite Aid, AutoZone, McDonald’s, Subway, Waba Grill and Cricket Wireless occupy the 119,359-square-foot property, which is nearly 100 percent leased. Donald MacLellan, Nicholas Coo and Joseph Chichester of Faris Lee represented both the seller and the buyer in the deal.

August 14, 2017

Colorado Industrial Western

CBRE Brokers Sale of 166,000 SF Manufacturing Facility in Johnstown, Colorado

by Nellie Day August 14, 2017

JOHNSTOWN, COLO. — A 166,000-square-foot industrial facility in Johnstown has sold to a new user for an undisclosed sum. The Class A facility is located at 3600 Ronald Reagan Blvd., just outside Loveland. The asset was custom built in 2012 for manufacturing. It features modern finishes, including a 45-foot ceiling clear height. The existing tenant’s eight-year lease was bought out prior to closing. CBRE’s Andrew Sandquist, JC Asensio and Briggs Goldberg represented the seller, Broadstone Net Lease, in this transaction.

August 14, 2017

Office Texas

Heady Investments to Develop 210,000 SF Office Building in Plano

by Taylor Williams August 14, 2017

PLANO, TEXAS — Heady Investments will develop Legacy South Office Center, a seven-story, 210,000-square-foot office property in Plano. Designed by Jack O’Brien & Associates and financed by Stillwater National Bank, the property will be situated on 4.4 acres on the west side of the Dallas North Tollway near Tennyson Parkway. General contractor Ed Henry & Associates expects to break ground on the project during the fourth quarter, with occupancy slated for February 2019.

August 14, 2017

Office Texas

UMB Bank Signs 19,000 SF Office Lease in Fort Worth

by Taylor Williams August 14, 2017

FORT WORTH, TEXAS — UMB Bank, a subsidiary of Kansas City-based UMB Financial Corp., has signed a 10-year office lease at 777 Main St. in Fort Worth. The lease includes 12,000 square feet of office space on the fifth floor and a 7,000-square-foot lobby. The company expects to move into the new space in 2018. Mike Gosslee and Jay Holland of Cushman & Wakefield represented UMB Bank in the lease negotiations.

August 14, 2017

Multifamily Texas

Vanguard Negotiates Sale of 92-Unit Townhome Community in Lubbock

by Taylor Williams August 14, 2017

Vanguard Negotiates Sale of 92-Unit Townhome Community in Lubbock LUBBOCK, TEXAS — Dallas-based Vanguard Real Estate Advisors has negotiated the sale of Siena Townhomes, a 92-unit rental community located at 2102 34th St., approximately 1.8 miles south of Texas Tech University in Lubbock. The property was 95 percent occupied at the time of sale. Jordan Cortez of Vanguard represented the New York-based seller in the transaction and procured the buyer, a North Texas-based private investor.

August 14, 2017

Retail Texas

STRIVE Brokers Sale of Retail Property Leased to Chick-fil-A in Dallas

by Taylor Williams August 14, 2017

DALLAS — STRIVE has brokered the sale of a 20-year, absolute net ground lease retail property near White Rock Lake in Dallas. Built in 2017, the property is currently leased to Chick-fil-A. Jason Vitorino of STRIVE represented the seller, a local partnership, in the all-cash transaction and procured the buyer, an out-of-state 1031 exchange.

August 14, 2017

Loans Multifamily Texas

BMC Capital Arranges $1.9M Loan for 61-Unit Multifamily Property in Houston

by Taylor Williams August 14, 2017

HOUSTON — Dallas-based BMC Capital has arranged a $1.9 million loan for the acquisition of a 61-unit multifamily property in the Oak Forest neighborhood of Houston. Clayton Wells of BMC Capital arranged the non-recourse bridge loan, which features two years of interest-only payments. The funds will also be used to make capital improvements to the property.

August 14, 2017

Midwest Multifamily Wisconsin

KTGY Unveils Design for Apartment Property Adjacent to University of Wisconsin-Oshkosh

by Kristin Harlow August 14, 2017

OSHKOSH, WIS. — KTGY Architecture + Planning has unveiled the design for Annex 71, a 140-unit apartment property located one-quarter mile from the University of Wisconsin-Oshkosh. The site was rezoned from industrial to residential in April 2017. The property was formerly home to Lamico Inc., a manufacturer of wooden crutches. Developer Annex Student Living is targeting young professionals and students as residents. Residences at Annex 71, currently under construction, will range from 500 to 1,300 square feet. Floor plans include 60 one-bedroom units, 35 two-bedroom units and 45 four-bedroom suite-style apartments. Amenities will include a clubhouse with a kitchen for community functions and private gatherings, as well as a fitness room and study lounge. Plans also call for an outdoor patio that may be used as an event area. Completion is slated for summer 2018.

August 14, 2017

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