Property Type

Torseillo Organization Acquires 40,000 SF Office Building in New Jersey

by Amy Works May 20, 2016

MANALAPAN, N.J. — Torseillo Organization has acquired Justin Corporate Center I, a two-story office building located at 198 Route 9 N. in Manalapan. KABR Group sold the 40,000-square-foot property for an undisclosed price. Constructed in 1985, the property recently underwent a renovation to improve its lobby, public areas, parking lot and HVAC system, and add a conference room. At the time of sale, the property was 94 percent occupied by 12 professional tenants in the financial services, healthcare and publishing fields. Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Andrew Schwartz and Ryan Larkin of Cushman & Wakefield represented the seller and procured the buyer.

May 20, 2016

Industrial Massachusetts Northeast

Deutsche Bank Sells 203,840 SF Data Center in Massachusetts

by Amy Works May 20, 2016

MARLBOROUGH, MASS. — Deutsche Bank has completed the sale of a mission-critical data center located at 34 St. Martin Drive in Marlborough. Lincoln Property Co. acquired the 203,840-square-foot asset for an undisclosed price. At the time of sale, the property was fully leased to nine tenants, including Tierpoint and Lightower. The facility features enhanced fire protection, environmental control, security, electrical power and technology infrastructure. Frank Petz, Chris Angelone, Jessica Hughes, Matthew Sherry and George Gregory of JLL represented the seller in the deal.

May 20, 2016

Multifamily Northeast Rhode Island

Marcus & Millichap Arranges $2.5M Sale of 36-Unit Apartment Complex in Rhode Island

by Amy Works May 20, 2016

WOONSOCKET, R.I. — Marcus & Millichap has arranged the sale of Peters River Residences, an apartment complex located on Fulton Street in Woonsocket. A limited liability company sold the 36-unit property for $2.5 million. Constructed in 2008, the complex comprises three buildings with 12 two-bedroom/one-bath units per building. Units feature fully equipped kitchens, in-unit laundry machines, central air conditioning, intercom systems and private porches. Tony Pepdjonovic and John Slyman of Marcus & Millichap’s Boston office represented the seller and procured the buyer.

May 20, 2016

Mixed-Use Restaurant Retail Texas

Jackson-Shaw Breaks Ground on The Oasis at Cascades at The Colony

by Haisten Willis May 20, 2016

THE COLONY, TEXAS — Jackson-Shaw has begun construction on a four-restaurant dining and entertainment experience known as The Oasis. The project is located in Cascades at The Colony. The Oasis is the newest addition to the master-planned community located in the retail and corporate headquarters corridor in north Texas. Thomas Glendenning and Chrystal Morgan with Shop Cos. are in charge of leasing the space. Jackson-Shaw developed the 100-acre, mixed-use campus of Cascades at The Colony to establish a commercial development along the north side of Sam Rayburn Tollway.

May 20, 2016

Retail Texas

Phillips Edison Grocery Center REIT II Acquires Grocery-Anchored Shopping Center in Metro Dallas

by Haisten Willis May 20, 2016

CROWLEY, TEXAS — Phillips Edison Grocery Center REIT II has purchased a grocery-anchored shopping center in the Dallas suburb of Crowley. Stone Gate Plaza is a 90,643-square-foot grocery-anchored shopping center located 15 miles south of Fort Worth. Kroger anchors the center, with other tenants including Cousin’s BBQ, Eagle Postal, Wingstop, GNC, GameStop, Pro Cuts, Styles of India and Subway.

May 20, 2016

Mixed-Use Restaurant Retail Texas

Trademark Signs Two New Tenants at WestBend, Purchases 3.5 Acres Adjacent to Project

by Haisten Willis May 20, 2016

FORT WORTH, TEXAS — Trademark Property Co. has signed two new tenants at WestBend, a 278,000-square-foot mixed-use development in Fort Worth’s University District. The two tenants, Ascension and Dear Hannah, will open this fall. Trademark has also closed on the acquisition of a 3.5-acre tract contiguous to WestBend. The acquired parcel is located on University Drive immediately south of WestBend, along the Trinity River. Conceptual planning is underway to develop additional mixed-use space featuring added ground floor retail, a hotel and multifamily units. A Hawthorn Suites occupies the site. Ascension, a Dallas Design District coffee and wine bar, will open a 2,420-square-foot store overlooking the Trinity River and Trinity Trails. Women’s clothing and accessories boutique Dear Hannah will open its third location in a 1,354-square-foot space. WestBend will be the first Fort Worth location for both tenants.

May 20, 2016

Retail Texas

M&M Arranges Sale of 23,038 SF Retail Property in Metro Dallas

by Haisten Willis May 20, 2016

HUDSON OAKS, TEXAS — Marcus & Millichap has arranged the sale of The Shops at Hudson Oaks, a 23,038-square-foot retail property located in Hudson Oaks. Philip Levy and Chris Gainey of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a developer. Levy and Gainey also secured the buyer, a private investor. The Shops at Hudson Oaks is located at 100 South Oakridge Drive. The retail center is 100 percent occupied, with all leases on a triple net basis. Hibbett Sports anchors the project, and other tenants consist of Massage Envy, Great Clips, Palio’s Pizza Café, Blue Jasmine Thai restaurant, AT&T, Leslie’s Pools, Expert Nail & Spa and Providence Title. The building was constructed in 2014 and sits on 2.7 acres. A drive-thru Wells Fargo ATM provides additional income and is the only Wells Fargo facility in Parker County.

May 20, 2016

Northern-Tool-equipment-6250-eastex-freeway-houston

Retail Texas

Baker Katz Secures 19,218 SF Retail Lease in Houston

by Haisten Willis May 20, 2016

HOUSTON — Baker Katz has secured a 19,218-square-foot lease on behalf of Northern Tool + Equipment in Houston. Northern Tool + Equipment will be located in a two-tenant building directly across Hwy 69 from Parkdale Mall at 6250 Eastex Freeway, and is slated to open in August. Jason Baker of Baker Katz, along with Clay Mote of Venture Commercial Real Estate, represented Northern Tool + Equipment in the lease. Chris Pitts of Streetwise represented the landlord, National Retail Properties.

May 20, 2016

Midwest Missouri Retail

GBT Realty Corp. to Build $54M, 300,000 SF Retail Center in Metro St. Louis

by Christina Cannon May 20, 2016

ST. PETERS, MO. — GBT Realty Corp. has unveiled plans to develop a $54 million retail center, the largest project of its kind in the St. Louis metro area since 2008. The Shoppes at Mid Rivers, which will be located on 28 acres in St. Peters, a northwestern suburb of St. Louis, is slated to open in late 2017. Current plans for the 300,000-square foot regional center include three anchor tenants, five to seven junior anchors, small shop space and four, one-acre outparcels. Demolition of existing buildings will start immediately upon acquisition of the site later this year.

May 20, 2016

Illinois Loans Midwest Multifamily

Grandbridge Arranges $26.2M Refinancing Loan for 308-Unit Apartment Community in Chicago Suburb

by Christina Cannon May 20, 2016

LISLE, ILL. — Grandbridge Real Estate Capital has arranged a $26.2 million refinancing loan for a 308-unit multifamily property in Lisle, approximately 30 miles west of Chicago. Arboretum Village Apartments features amenities such as an outdoor pool, playground, Internet café and 24-hour fitness center. The fixed-rate, non-recourse loan features a 10-year term. Ben Fazendin of Grandbridge Real Estate Capital originated the Fannie Mae financing for the undisclosed borrower.

May 20, 2016

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