Property Type

SRSA Commercial Brokers $17M Sale of Shopping Center in Metro New Orleans

by John Nelson January 27, 2017

MANDEVILLE, LA. — SRSA Commercial Real Estate has brokered the $17 million sale of Northlake Shopping Center, a 166,371-square-foot retail center in Mandeville, situated on the north shore of Lake Pontchartrain across from New Orleans. Northlake’s tenant roster includes The Fresh Market, Office Depot, Stage, Gordon’s of Mandeville and PetSmart. Steven Reisig and Kirsten Early of SRSA Commercial represented the buyer, Epic Real Estate Partners, in the transaction. Epic has retained SRSA Gulf South Management, a division of SRSA, to manage and lease the center.

January 27, 2017

Multifamily Texas

Rosewood Property Opens 327-Unit Multifamily Property in Plano

by Amy Works January 27, 2017

PLANO, TEXAS — Rosewood Property Co. has opened The Bridge @ Heritage Creekside, an apartment building located within the 156-acre Heritage Creekside mixed-use development in Plano. Completed by Carbon Thompson, the property features 327 apartment units within the 46-acre first phase of the Heritage Creekside development. Upon completion, the project will also feature 105 single-family townhomes and 41 single-family homes.

January 27, 2017

Industrial Texas

Bob Moore Construction Breaks Ground on 350,000 SF Distribution Center in Metro Dallas

by Amy Works January 27, 2017

WILMER, TEXAS — Bob Moore Construction has broken ground for Interpoint Distribution Center in Wilmer. Developed by Houston-based Skyhawk Partners, the 350,000-square-foot industrial facility will feature a cross-dock design and 32-foot clear heights. Construction is currently in the site work phase, with completion slated for later this year.

January 27, 2017

Hospitality Loans Texas

Grandbridge Arranges $12.9M in Refinancing for 117-Room Hotel in The Woodlands

by Amy Works January 27, 2017

THE WOODLANDS, TEXAS — Grandbridge Real Estate Capital has closed a $12.9 million first mortgage loan for Hilton Garden Inn-Woodlands, a 117-room hotel located in The Woodlands, a northern suburb of Houston. Bill Mattice and Phillip Cox of Grandbridge originated the refinancing for the undisclosed borrower. The Bancorp provided the 10-year, fixed-rate loan, which features a 30-year amortization schedule.

January 27, 2017

Multifamily Texas

Marcus & Millichap Brokers Sale of 76-Unit Apartment Building in Garland

by Amy Works January 27, 2017

GARLAND, TEXAS — Marcus & Millichap has arranged the sale of Oaks Branch, a multifamily building located at 1004 Castleglen Drive in Garland. Oaks Branch features 76 units in a mix of two- and three-bedroom apartment layouts and two-story townhouse-style units. Nick Fluellen and Bard Hoover of Marcus & Millichap represented the seller, a limited liability company, and procured the buyer, also a limited liability company, in the deal. The acquisition price was not released.

January 27, 2017

Industrial Office Texas

NAI Robert Lynn Arranges Three Property Sales Totaling 55,742 SF in Dallas, Fort Worth

by Amy Works January 27, 2017

DALLAS AND FORT WORTH, TEXAS — NAI Robert Lynn has brokered three separate sale transactions totaling 55,742 square feet of office and industrial space in Dallas and Fort Worth. In the first deal, 2408 Converse Street LP acquired 7,225 square feet of office and warehouse space at 1351 Crampton St. in Dallas. Robert Blankinshop of NAI Robert Lynn represented the undisclosed seller in the transaction. In the second transaction, Cantwell Industries purchased a 22,017-square-foot office building located at 2729 E. Loop 820 in Fort Worth. Todd Hubbard of NAI Robert Lynn represented the buyer, while Todd Hawpe of Transwestern represented the undisclosed seller. In the third transaction, Purchasing Solutions International acquired a 3,696-square-foot office building located at 1824 Eighth Ave. in Fort Worth. Colt Power of NAI Robert Lynn represented the buyer, while David Cason of Holt Lunsford represented the undisclosed seller in the deal.

January 27, 2017

Multifamily New Jersey Northeast

Gebroe-Hammer Associates Arranges $130M Sale of 360-Unit Apartment Community

by Amy Works January 27, 2017

ROSELAND, N.J. — Gebroe-Hammer Associates has brokered the sale of Nob Hill Apartments, a garden-style apartment community located at 28 Nob Hill Road in Roseland. Novel Property Ventures acquired the property from Segal & Segal for $130 million. The 360-unit property features one- and two-bedroom layouts, as well as three-story duplexes with ground-floor garages and storage rooms. Community amenities include a swimming pool, tennis courts, off-street parking and sundecks. Greg Pine and Ken Uranowitz of Gebroe-Hammer represented the seller, while Nicholas Nicolaou of Gebroe-Hammer procured the buyer. Additionally, JLL secured $102 million in acquisition financing and a $10 million construction facility for the purchase and rebrand of the 30-building property. Acore Capital provided the financing package, which was arranged by Dustin Stolly and Aaron Niedermayer of JLL.

January 27, 2017

Multifamily Northeast Pennsylvania

JV Tops out 322-Unit Residential Tower in Philadelphia’s Center City

by Amy Works January 27, 2017

PHILADELPHIA — A joint venture between The Goldenberg Group, Hines and ASB Real Estate Investments has announced the structural topping out of 1213 Walnut, a residential tower located in Philadelphia’s Center City. The 26-story, 300,000-square-foot building will feature 322 for-rent luxury apartment units, 7,200 square feet of retail space, 11,000 square feet of amenity space, a 3,000-square-foot fitness center, rooftop deck, dog park and bicycle storage. Preleasing will begin in April, with occupancy slated for July.

January 27, 2017

New York Northeast Office

SL Green Sells 180,000 SF Office Property in Tarrytown, New York, for $21M

by Amy Works January 27, 2017

TARRYTOWN, N.Y. — SL Green Realty Corp. has entered into an agreement to sell an office building located at 520 White Plains Road in Tarrytown. An undisclosed buyer will purchase the 180,000-square-foot building for $21 million, or $117 per square foot. Jeff Dunne of CBRE represented the buyer in the deal, which is expected to close during the second quarter.

January 27, 2017

Loans New Jersey Northeast Retail

Houlihan-Parnes Places $18M Loan for 400,000 SF Shopping Center in Lawrence, New Jersey

by Amy Works January 27, 2017

LAWRENCE, N.J. — Houlihan-Parnes Realtors has placed an $18 million first mortgage and credit facility for Lawrence Shopping Center, located at 2495-2421 Brunswick Pike and Harding Avenue in Lawrence. Acme Supermarket, Burlington Coat Factory and Staples are major tenants at the 400,000-square-foot property. A joint venture between JJ Operating Inc. and principals and investors from Houlihan-Parnes Realtors recently acquired the property.

January 27, 2017

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