Property Type

BH Properties Buys Former Golfsmith HQs in Austin Out of Bankruptcy for $20.5M

by Amy Works January 31, 2017

AUSTIN, TEXAS — Los Angeles-based BH Properties has acquired the former Golfsmith International Holdings Inc. headquarters facility in Austin out of Golfsmith’s bankruptcy liquidation process for $20.5 million. Situated on 40 acres, the four-building, 332,345-square-foot property features a 93,000-square-foot building, which housed retail and office space, and three manufacturing and distribution facilities totaling 239,000 square feet. BH Properties was represented in-house, while Michael Jerbich of A&G Realty Partners represented Golfsmith in the deal.

January 31, 2017

Retail Texas

Younger Partners Brokers Land Sale for Retail Development in McKinney, Texas

by Amy Works January 31, 2017

MCKINNEY, TEXAS — Younger Partners has arranged the sale of a 1.6-acre land parcel located at McKinney Ranch Parkway and Lake Forest Boulevard in McKinney. An undisclosed developer acquired the property and plans to construct a 15,000-square-foot retail center on the site. John St. Clair and Kevin Harrell of Younger Partners represented the buyer, while Bry Taylor of Bryson Messer Properties represented the undisclosed seller. The acquisition price was not released.

January 31, 2017

Industrial Texas

Holt Lunsford Commercial Negotiates Sale of 41,000 SF Industrial Building in Metro Dallas

by Amy Works January 31, 2017

MANSFIELD, TEXAS — Holt Lunsford Commercial has arranged the sale of an industrial building located at 617 S. Fourth Ave. in Mansfield, a suburb located 30 miles southwest of Dallas. Valdar Properties #5 LLC sold the 41,000-square-foot building for an undisclosed price. George Jennings and Donnie Rohde of Holt Lunsford represented the undisclosed seller in the deal.

January 31, 2017

Hospitality New York Northeast

JMH Development, Mettle Property to Develop Dual-Branded Hotels in Long Island City

by Amy Works January 31, 2017

NEW YORK CITY — JMH Development and Mettle Property Group have signed a franchise agreement with Hilton to develop a dual-branded Homewood Suites by Hilton and Hampton Inn by Hilton hotel property at 36-20 Steinway St. in Long Island City. Designed by Gene Kaufman Architects, the property will feature 289 hotel rooms consisting of 187 Hampton Inn keys and 102 Homewood Suites keys. Additionally, the property will feature a private roof deck, lobby and lobby bar, fitness center, meeting rooms and 18,000 square feet of retail space. The hotels are slated to open in 2018.

January 31, 2017

Industrial New Jersey Northeast

Amerco Real Estate Co. Acquires 126,251 SF Flex Property in Swedesboro, New Jersey

by Amy Works January 31, 2017

SWEDESBORO, N.J. — Amerco Real Estate Co., an affiliate of U-Haul, has purchased a three-building flex property located at 510 Heron Drive in Swedesboro. Starwood Property Trust sold the property for $3.5 million. The multi-tenant property features 126,251 square feet of flex space. Situated on 10.5 acres, the property features 21 loading docks and five drive-in doors. At the time of sale, the property was 57 percent leased. Jacklene Chesler of Colliers International represented the seller and procured the buyer. Jonathan Schlussel, Evan Zweben and Christina Del Duca, also of Colliers, marketed the property on behalf of the seller. LNR Property LLC manages the property.

January 31, 2017

Loans Massachusetts Multifamily Northeast

HFF Arranges $21.6M Loan for 46-Unit Multifamily Property in Cambridge, Massachusetts

by Amy Works January 31, 2017

CAMBRIDGE, MASS. — HFF has arranged a $21.6 million first mortgage loan for Hathaway Lofts, a multifamily property located at 15 Richdale Ave. in the Porter Square neighborhood of Cambridge. Brett Paulsrud and Xave Jacoby of HFF secured the 10-year, fixed-rate loan for the borrower, Camco Management Co. Formerly Hathaway Bakery, the recently renovated property has been converted into an apartment community featuring 46 loft-style units in 35 layouts.

January 31, 2017

Industrial New Jersey Northeast

Merola Tile Group Acquires 82,000 SF Distribution Facility in Willingboro, New Jersey

by Amy Works January 31, 2017

WILLINGBORO, N.J. — Merola Tile Group has purchased a distribution facility located at 49 Ironside Court in Willingboro for an undisclosed price. The buyer will use the 82,000-square-foot facility to distribute Merola Tile, SomerTile and other branded products throughout the Northeast. Jonathan Glick of Sheldon Gross Realty Inc. represented the buyer in the transaction. The seller and acquisition price were not released.

January 31, 2017

Industrial Massachusetts Northeast

The Stubblebine Co. Brokers 50,000 SF Lease Expansion in Wareham, Massachusetts

by Amy Works January 31, 2017

WAREHAM, MASS. — The Stubblebine Co./CORFAC International has arranged a 50,000-square-foot lease expansion at 20 Kendrick Road in Wareham. T. Marzetti Co., a subsidiary of Lancaster Colony Corp., has added 50,000 square feet to its current 70,000-square-foot space to occupy the entire 120,000-square-foot distribution facility. David Stubblebine and James Stubblebine of The Stubblebine Co. represented the landlord, Malden Frame Realty Trust, and the tenant in the transaction.

January 31, 2017

Alabama Retail Southeast

Topgolf Expands in Alabama with New Huntsville Location

by John Nelson January 31, 2017

HUNTSVILLE, ALA. — Topgolf has confirmed Huntsville as its second location in Alabama. Topgolf will be located on the property that RCP Cos. is redeveloping into MidCity. Construction on the 53,000-square-foot Topgolf will begin in March, with an expected opening in late December 2017 or early January 2018. Topgolf will create 325 full- and part-time jobs at the new Huntsville location. The new three-level venue will feature 1,500 square feet of private event space and 72 climate-controlled hitting bays that can host up to six players at one time. Each venue features chef-driven food and beverage menu, music, private rooms for corporate and social events and hundreds of HD TVs.

January 31, 2017

Florida Multifamily Southeast

Walker & Dunlop Arranges $58.8M Sale of Apartment Community in Broward County

by John Nelson January 31, 2017

DAVIE, FLA. — Walker & Dunlop has arranged the $58.8 million sale of Town University Luxury Apartments, a newly built, 232-unit apartment community in Davie, a suburb of Fort Lauderdale in Broward County. Town University is the first acquisition in the United States for the buyer, Contentus, a Swedish investment firm. In addition to brokering the sale, Walker & Dunlop arranged a $35.4 million acquisition loan on behalf of Contentus. Chris Conklin and Roberto Pesant of Walker & Dunlop’s investment sales team brokered the sale. Al Rex, Marty McGrogan and Niki Preble of Walker & Dunlop arranged the 10-year acquisition loan. Town University’s community amenities include a steam room, cyber café with a coffee bar and a fitness center with cardio equipment, a virtual spin room and yoga.

January 31, 2017

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