Property Type

Point Capital, Fields Construction Co. Complete 83-Unit Apartment Building in Jersey City

by Amy Works June 14, 2016

JERSEY CITY, N.J. — Point Capital Development and Fields Construction Co. have completed the construction of The Baker Building, an apartment building located at 234 Suydam Ave. in Jersey City. Situated in the Lafayette neighborhood, the five-story complex features 83 apartments, a roof deck, courtyard, dog run, parking, lounge and fitness center. Additionally, the property is located in close proximity to the Liberty State Park light rail station. The complex was designed by C+C Architecture with Urban Design Workshop as the architect of record for construction.

June 14, 2016

Loans Massachusetts Multifamily Northeast

Cornerstone Realty Capital Arranges $56M in Acquisition Financing for Value-Add Multifamily Portfolio

by Amy Works June 14, 2016

WESTWOOD AND SOMERVILLE, MASS. — Cornerstone Realty Capital has arranged $56 million for the acquisition of four multifamily properties totaling 244 units, including 156 units in Westwood and 88 units across three properties in Somerville. The borrower was TrueNorth Capital Partners. The first of the two acquisitions is Westwood Glen, located at 21 Westwood Glen Road in Westwood. Situated on 13.5 acres, the seven-building, 156-unit, age-restricted property was purchased for $34.4 million. The Somerville Squares Portfolio properties were purchased for a total of $27.3 million from a private family. TrueNorth acquired the 63-unit 379-389 Broadway Street for $20 million, the 18-unit 39-49 Bow Street for $4.7 million, and the seven-unit 8-12 Beacon Terrace for $2.6 million. The buyer plans to invest $6 million in improvements to the Westwood property and $4 million on the Somerville properties. Simon Butler and Biria St. John of CBRE/New England represented the undisclosed seller and procured the buyer in both deals.

June 14, 2016

Connecticut Hospitality Northeast

HREC Negotiates Sale of 284-Room CoCo Key Water Resort in Connecticut

by Amy Works June 14, 2016

WATERBURY, CONN. — HREC Investment Advisors and Ten-X Commercial have arranged the sale of CoCo Key Water Resort in Waterbury. JMDH Real Estate acquired the 284-guestroom hotel from T.J. Waterbury LLC for an undisclosed price. Mark von Dwingelo of HREC represented the seller in the deal.

June 14, 2016

Multifamily New York Northeast

Marcus & Millichap Brokers $8M Sale of Three Multifamily Buildings in New York City

by Amy Works June 14, 2016

NEW YORK CITY — Marcus & Millichap has arranged the sale of three adjacent multifamily buildings, totaling 24 units, located at 308-312 W. 113th St. in New York City. The Meshberg Group acquired the eight-unit buildings from Yassky Properties for $8 million. Peter Von Der Ahe, Seth Glasser and Jacob Kahn of Marcus & Millichap’s Manhattan office represented the seller and buyer in the transaction.

June 14, 2016

Multifamily Washington Western

New Standard Equities Buys The Venue Apartments in Renton for $41.5M

by Nellie Day June 14, 2016

RENTON, WASH. — New Standard Equities has purchased The Venue, a 284-unit apartment complex in Renton, for $41.5 million. The community is located at 4455 N.E. 12th St. The Venue will undergo a $2.8 million repositioning that will include improvements to its fitness center and additional carports on the low-density site. This is the third Pacific Northwest acquisition for New Standard since August 2015. The seller was Fowler Property Acquisitions. Regis Metro Associates provided equity, while Freddie Mac provided the financing.

June 14, 2016

Colorado Mixed-Use Western

United Properties, Principal Real Estate Announce Phase II of Inova Dry Creek in Denver

by Nellie Day June 14, 2016

DENVER — A joint venture between United Properties and Principal Real Estate Investors have announced the second phase of Inova Dry Creek, a 650,000-square-foot, mixed-use campus in Denver. Phase II will contain a second speculative Class A office building containing 235,800 square feet. Construction will commence in the coming weeks, with an expected delivery date in the third quarter of 2017. Development plans call for three additional buildings on the 58-acre site. The developers broke ground on Inova 1, the first phase of the campus, in September. It is slated for completion in November, with Comcast taking occupancy in the first quarter of 2017. The JV will also soon break ground on Inova Flex, a 70,632-square-foot flex property at the campus. Power Home Remodeling Group has recently signed a lease at this space. Powers Brown Architecture has designed the project, while Adolfson & Peterson Construction is serving as the general contractor for Inova 1.

June 14, 2016

California Industrial Western

BLT Enterprises Buys Four-Property Office, Industrial Portfolio in Orange County for $28M

by Nellie Day June 14, 2016

IRVINE, CALIF. — BLT Enterprises has purchased a four-building portfolio that contains a mix of office, flex and industrial buildings for $28 million. The portfolio contains a total of 170,447 square feet. The assets encompass 11.1 acres and are fully leased. Notable tenants at the facilities include Securitas Security Services USA, Ambry Genetics, Compass Group USA and Exhibitree. The portfolio includes a 73,066-square-foot industrial building at 9700 Toledo Way in Irvine; a 47,662-square-foot industrial building at 12640 Knott St. in Garden Grove; a 41,519-square-foot office/flex building at 15 Argonaut in Aliso Viejo; and an 8,200-square-foot office building in Anaheim. Kurt Bruggeman and Ryan Swanson of Lee & Associates represented BLT. Jeff Chiate and Jeff Cole of Cushman & Wakefield represented the seller, Cordia Capital Management, in this transaction.

June 14, 2016

California Retail Western

Arroyo & Co. Arranges Sale of 90,348 SF Retail Building in Santa Rosa

by Nellie Day June 14, 2016

SANTA ROSA, CALIF. — Arroyo & Co. has arranged the sale of a 90,348-square-foot retail building connected to Santa Rosa Plaza in downtown Santa Rosa. The deal was through Ten-X, and terms of the transaction were not released. Pedro Arroyo and David Kram of San Francisco-based Arroyo & Co. represented the undisclosed buyer. Situated on 3.4 acres, the building is partially leased to Forever 21 and has 47,289 square feet of retail space available for lease. The connected Santa Rosa Plaza is occupied by 120 specialty stores, including Apple, Abercrombie & Fitch, Forever 21, Macy’s, Sears, Eddie Bauer, Gap, Gymboree and Victoria’s Secret, as well as 16 eateries.

June 14, 2016

Arizona Retail Western

REI Completes Rooftop Solar Installation on Distribution Facility in Arizona

by Nellie Day June 14, 2016

GOODYEAR, Ariz. — REI, a specialty outdoor retailer, has teamed with Blue Oak Energy to complete a 2.2 megawatt rooftop solar installation atop REI’s new distribution center in Goodyear, a western suburb of Phoenix. The system is expected to offset all of the facility’s annual electricity consumption. REI and Blue Oak have worked together on solar projects for eight years. The partnership has resulted in a 5.4 megawatt solar portfolio for REI. Blue Oak Energy was founded in 2003 in Davis, Calif. In 2015, Panasonic Enterprise Solutions Company and Coronal Group LLC invested in the company. REI is headquartered near Seattle and has 144 stores in 35 states.

June 14, 2016

Healthcare New Jersey Northeast Office

NAI Hanson Arranges Sale of 45,912 SF Medical Office Building in New Jersey

by Amy Works June 14, 2016

HACKENSACK, N.J. — NAI James E. Hanson has brokered the sale of a medical office building located at 155 Polifly Road in Hackensack. Polifly Group acquired the 45,912-square-foot property from Polifly Plaza Associates for an undisclosed sum. The three-story building was 50 percent vacant at the time of sale. Hackensack University Medical Center currently occupies the first floor, leaving 20,269 square feet available for new tenants. The third floor is currently vacant, offering 15,000 square feet of contiguous office space. Randy Horning and Darren Lizzack of NAI Hanson represented the seller, while Anthony Cassano, also of NAI Hanson, represented the buyer in the deal.

June 14, 2016

Newer Posts

Older Posts