SUGAR LAND, TEXAS — Philadelphia-based investment firm Alterra IOS has acquired an industrial outdoor storage facility located at 25 miles southwest of Houston at 15646 Ennis Road in Sugar Land. The facility features a 30,000-square-foot warehouse and was fully leased at the time of sale of a national building materials distributor. Alex Harrold of Matthews Real Estate Investment Services represented Alterra in the transaction. The seller and sales price were not disclosed.
SAN ANTONIO — Nonprofit organization Wounded Warrior Project has signed an 18,559-square-foot office lease in San Antonio. The space is located within Building 3 at University Heights Tech Center on the city’s northwest side and will be able to support about 70 employees. Brian Kates of JLL represented Wounded Warrior Project in the lease negotiations. Rob Gish represented the landlord, locally based owner-operator Worth & Associates, on an internal basis.
ADDISON, TEXAS — Bradford Commercial Real Estate Services has negotiated a 12,078-square-foot industrial lease renewal in the northern Dallas metro of Addison. The tenant, electronics repair services provider Power Clinic Inc., will maintain its space at Marsh Business Park, a multi-building development.Brian Pafford of Bradford represented the locally based landlord, GKI Industrial Dallas LLC, in the lease negotiations. Matthew Middendorf of Middendorf Commercial represented Power Clinic.
BOSTON — PGIM Real Estate has provided $132 million in financing for The Viridian, a 342-unit multifamily property in Boston’s Fenway neighborhood. The Viridian offers studio, one-, two- and three-bedroom units, as well as penthouses, that are furnished with floor-to-ceiling windows, designer kitchens, spa-inspired baths, walk-in closets and Juliet balconies. Amenities include two rooftop decks with outdoor lounges, a fitness center and coworking and social lounges. Amy Lousararian, Madeline Joyce and Michael Schwarze of JLL arranged the floating-rate financing on behalf of the owner, The Abbey Group.
FONTANA, CALIF. — Bridge Logistics Properties (BLP), a subsidiary of Bridge Investment Group Holdings, has purchased a portfolio of three industrial buildings in Fontana for $83.5 million. The name of the seller was not released. Totaling 332,793 square feet, the portfolio includes a 100,039-square-foot asset at 14074 Rancho Court, a 57,654-square-foot property at 14019 Rose Ave. and a 175,100-square-foot building at 14928 Washington Drive. Each building features Class A specifications including 32-foot clear heights, secured all-concrete truck courts, dock-high and grade-level loading, ESFR sprinkler systems and LED lighting. The properties are fully leased and offer a weighted average lease term of more than two years.
DENVER — JLL Capital Markets has arranged $27.2 million in refinancing for The Kenyon, a multifamily property at 777 E. 17th Ave. in Denver’s Uptown neighborhood. Kristian Lichtenfels and Mark Erland of JLL secured the financing for the borrower, the single-purpose joint venture entity of Corum Real Estate Group, ProspectHill Group and Geolo Capital. Delivered in May 2024, The Kenyon offers 124 studio, one- and two-bedroom apartments with 40 unique floor plans, including 27 balcony units and 17 split-level mezzanine units. Community amenities include a two-story fitness center, private work pods and a rooftop deck with grills.
OLYMPIA, WASH. — Nearon Enterprises has acquired Briggs Village, an apartment community in Olympia, from Glencrest Group for an undisclosed price. Situated in the 137-acre Briggs Village master-planned community, the asset features 72 apartments. The community was built in 2019. Ryan Harmon, Philip Assouad, Giovanni Napoli, Nick Ruggiero and Anthony Palladino of Institutional Property Advisors, a division of Marcus & Millichap, represented the buyer and facilitated the transaction.
NEW BRUNSWICK, N.J. — New York City-based developer SJP Properties has broken ground on a 370,000-square-foot office and life sciences project in the Central New Jersey community of New Brunswick. The 10-story building will be known as the Nokia Bell Labs Headquarters facility and represents Phase II of a larger development known as the HELIX NJ Innovation District (previously known as HELIX Health + Life Science Exchange). SJP is developing the HELIX project in partnership with the New Brunswick Development Corp. PNC Bank provided construction financing for the project, completion of which is slated for late 2027.
FRESNO, CALIF. — Progressive Real Estate Partners has brokered the sale of Peppertree Plaza, a shopping center in Fresno. A Bay Area private investor sold the asset to a Los Angeles-based private investor for $6.7 million. Greg Bedell of Progressive Real Estate Partners represented the seller in the all-cash transaction. Located at 2745-2787 W. Shaw Ave., Peppertree Plaza features 51,000 square feet of retail space spread across five shop and pad buildings. At the time of sale, the property was 87 percent leased. Current tenants include Outback Steakhouse, Deli Delicious, Marion’s Mexican Restaurant, Pijja Paradise Pizza & Arcade, Ocean Dental Group, FastSigns and State Bank of India.
VAIL VALLEY, COLO. — Gart Properties has purchased Edwards Corner, a neighborhood center at 56 Edwards Village Blvd. in Vail Valley, from Edwards Corner LLC for an undisclosed price. Built in 2004, Edwards Corner features 48,351 square feet of retail space and is currently leased to nearly 50 local businesses, including Hovey & Harrison, Drunken Goat, Cut Meat & Seafood and Il Mago. Jon Hendrickson and Aaron Johnson of Cushman & Wakefield represented the seller in the deal.