HURST, TEXAS — Locally based brokerage firm DuWest Realty has negotiated the sale of a 16,938-square-foot retail building in Hurst, located northeast of Fort Worth. According to LoopNet Inc., the building at 924 NE Loop 820 was constructed in 1999. Giancarlo Carriero and Scott Rodgers of DuWest Realty represented the seller, De La Vega Development | Capital, in the transaction. The buyer was Houston-based investment and brokerage firm Jolink Wallace Commercial, which plans to redevelop the building for western footwear and apparel retailer Boot Barn.
LIBERTYVILLE, ILL. — BWE has arranged a $20 million loan for the acquisition of Innovation Park, a 1 million-square-foot mixed-use office and research laboratory campus in the Chicago suburb of Libertyville. Originally constructed in the 1990s to serve as an R&D facility for the Motorola Corp., Innovation Park spans 83 acres. The property was 71 percent leased at the time of loan closing. Anchor tenants include Valent BioSciences, Medline Industries and Juno Therapeutics. Daniel Rosenberg, Chris Caroll, Logan Petersmeyer and Max Miller of BWE arranged the loan through a depository institution on behalf of the borrowers, a joint venture between Chicago-based developer R2 and Chicago-based JDI Realty. The five-year loan features multiple years of interest-only payments and structured flexibility.
FARGO, N.D. — Gindi Equities has acquired Timber Creek Apartment Homes, a 252-unit apartment community in Fargo. The purchase price was undisclosed. Built in 2015, the property at 4720 Timber Parkway South offers one- to three-bedroom units. Amenities include a playground, beach volleyball court and a pergola grilling area. Gindi plans to implement interior upgrades, including the installation of new features and fixtures to apartment kitchens and bathrooms. Common areas and grounds will also be renovated, and new exterior amenities will be added. Gindi acquired the asset from Property Resources Group, which will continue to manage and service the asset. The purchase marks Gindi’s second acquisition in the Fargo market.
ROGERS, MINN. — Two tenants have signed leases at I-94 Distribution Center in Rogers, a northwest suburb of Minneapolis. The deals total 116,042 square feet of warehouse space and 66,179 square feet of outdoor space, bringing the 297,756-square-foot property to full occupancy. ABC Supply Co. Inc, a wholesale distributor of roofing and other select exterior and interior building products in North America, signed a lease for 49,954 square feet inside the building and 66,179 square feet, or approximately 1.5 acres, of secure outdoor space. UPAC2, a food packaging company, will occupy 66,088 square feet within the property. Nate Erickson and Alex Baron of Transwestern Real Estate Services represented the landlord, Dalfen Industrial. The previous tenant exited I-94 Distribution Center in March, and both new tenants plan to move into their spaces in early 2025. Joe Owens of Colliers represented ABC Supply, while Austin Lovin of CBRE represented UPAC2.
AUSTIN, TEXAS — Benchmark Development has welcomed four new retailers to Goodnight Ranch, a 700-acre mixed-use development in southeast Austin. Meow Bark Veterinary will open a 2,474-square-foot clinic by the end of the year, as will Action Behavior Centers, which helps children diagnosed with autism and has committed to a 6,844-square-foot space. Amazing Explorers plans to debut a 12,156-square-foot childcare center in early 2025, and Boba Magic will open a 1,241-square-foot café sometime next year.
ELK GROVE VILLAGE, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial VII LP, has purchased a 74,975-square-foot industrial building in the Chicago suburb of Elk Grove Village. The purchase price was undisclosed. The property sits on nearly three acres at 951 Lunt Ave. and was vacant at the time of sale. There are eight docks and parking for 70 cars. Prior to closing, Venture One received a 6B tax incentive from Elk Grove Village. Venture One plans to make improvements, including office renovations, warehouse paint, parking lot seal coating, energy-efficient warehouse lights, roof replacement, landscaping and façade enhancements. Cal Payne and Matt Mulvihill of CBRE represented the seller and will be retained to market the property for lease. VK Industrial VII is co-sponsored by Venture One and Kovitz Investment Group.
QUINCY, ILL. — SRS Real Estate Partners has brokered the $2.6 million sale of a Raising Cane’s Chicken Fingers ground lease in Quincy, a city in western Illinois. The 3,062-square-foot restaurant features a drive-thru and is located at 3601 Broadway St. The newly developed property serves as an outparcel to Target and is directly across the street from Quincy Commons Shopping Center. Matthew Mousavi and Patrick Luther of SRS represented the seller, a Chicago-based merchant developer. Alexander Moore of SRS represented the buyer, a private investor from Sacramento, Calif. The lease term is 15 years.
DOUGLASSVILLE, PA. — BWE, the commercial finance firm formerly known as Bellwether Enterprise Real Estate Capital, has arranged a $57.8 million loan for the refinancing of Keystone Villa at Douglassville, a 248-unit seniors housing property located about 55 miles northwest of Philadelphia. The property comprises a 123-unit independent living building that was constructed in 2015 and a 125-unit assisted living and memory care building that was constructed in 2011. Ryan Stoll and Taylor Mokris of BWE arranged the nonrecourse loan through Commercial Bank on behalf of the borrower, a joint venture between private investment trust ReNew REIT and operator Heritage Senior Living. The property was 92 percent occupied at the time of the loan closing.
NEW YORK CITY — Greystone has provided a $32 million CMBS loan for the refinancing of a 90-unit affordable housing complex in the Clinton Hill neighborhood of Brooklyn. The building at 58 Vanderbilt Ave. was completed in 2023 and features studio-, one- and two-bedroom units. Amenities include a rooftop terrace, business center and a recreation room, and the building houses two commercial spaces on the ground floor. Rose Schwartz and Gabby Gutwein of Everest Equity arranged the loan, which was structured with a 51 percent loan-to-value ratio, a five-year term and a 30-year amortization period. The borrower was not disclosed.
YONKERS, N.Y. — Locally based brokerage firm Houlihan-Lawrence Commercial has negotiated the $4.7 million sale of an 18,000-square-foot retail property in Yonkers, located north of New York City. Apparel and footwear retailer Snipes anchors the property, which features nine storefronts and is also home to Yonkers Paint & Hardware. Garry Klein of Houlihan-Lawrence represented the seller in the transaction, and the firm’s Jared Stone represented the buyer. Both parties requested anonymity.