Property Type

Pure Foods Gateway Commerce Park Kingsport

Pure Foods Opens $22M Headquarters, Manufacturing Plant in Tennessee

by John Nelson February 2, 2016

KINGSPORT, TENN. — Pure Foods, a specialty snack company, has opened its global headquarters and a manufacturing plant at Gateway Commerce Park in Kingsport. The $22 million project will house 50 to 75 employees, with room to grow to 275 employees over the next five years. The 88,000-square-foot manufacturing facility will be where Pure Foods produces its healthy snacks, which are sourced from non-GMO fruits and vegetables. The opening ceremony of the headquarters and manufacturing plant was attended by Tennessee Gov. Bill Haslam; Lt. Gov. Ron Ramsey; John Dreyzehner, commissioner of the Tennessee Department of Health; Miles Burdine, president and CEO of the Kingsport Chamber of Commerce; Kingsport Mayor John Clark; and Sullivan County Mayor Richard Venable. As part of the opening, Pure Foods has also announced its acquisition of the Guiltless Gourmet brand from Manischewitz Co.

February 2, 2016

420 and 440 S. Congress Ave. Delray Beach

Florida Industrial Southeast

Cushman & Wakefield Brokers $18.5M Sale of Distribution Center in South Florida

by John Nelson February 2, 2016

DELRAY BEACH, FLA. — Cushman & Wakefield has arranged the $18.5 million sale of Delray Distribution Center, a 185,624-square-foot, two-building industrial facility located at 420 and 440 S. Congress Ave. in Delray Beach. PetMeds, an online pharmacy offering pet medications and animal grooming products, purchased the facility from Stockbridge Capital. Christopher Thomson, Richard Etner, Christopher Metzger and Matthew McAllister of Cushman & Wakefield represented Stockbridge Capital in the transaction. PetMeds will relocate its office and distribution headquarters to Delray Distribution Center, which was fully leased at the time of sale. Other tenants include DHL and Levenger. Built in 1994, the property features 26-foot clear ceiling heights, dock-high and grade-level loading, a 150-foot truck court and an ESFR sprinkler system.

February 2, 2016

California Multifamily Seniors Housing Western

WNC Closes $114.7M Institutional LIHTC Fund Covering 24 Properties in 11 States

by Nellie Day February 2, 2016

IRVINE, CALIF. — WNC, an Irvine-based investor specializing in low-income housing tax credits (LIHTC), has closed WNC Institutional Tax Credit Fund 41 L.P., a $114.7 million institutional LIHTC fund. Estimated to include 1,674 affordable housing units in total, the fund’s portfolio is comprised of 24 family and seniors housing communities scheduled for new construction and rehabilitation. The properties will be located in 11 states: Arkansas, California, Louisiana, Minnesota, Missouri, Montana, New Mexico, Tennessee, Texas, Washington and Wisconsin.

February 2, 2016

Loans New Mexico Retail Western

Houlihan-Parnes Arranges $9.1M Refinancing for Ladera Shopping Center in Albuquerque

by Nellie Day February 2, 2016

ALBUQUERQUE, N.M. — Houlihan-Parnes has arranged a $9.1 million refinancing for Ladera Shopping Center, a 128,712-square-foot shopping center located in Albuquerque. Ed Graf of Houlihan-Parnes secured the five-year loan. The center is currently 95 percent occupied by 23 tenants including John Brooks Supermarket, Dollar Tree, Taco Cabana, Bank of Albuquerque, Planet Fitness, the UPS Store, Supercuts, H&R Block and T-Mobile. Burger King occupies a pad site.

February 2, 2016

Colorado Industrial Western

Jensen Precast Buys Denver Industrial Facility

by Nellie Day February 2, 2016

DENVER — Jensen Precast has purchased a 143,960-square-foot industrial facility in the Denver submarket of Lockeford for an undisclosed sum. The facility is located at 12101 E. Brandt Road. The space will serve as an expansion of the precast concrete company’s existing facility. The seller is NCI Building Systems. Eric Dienstbach of Binswanger, along with John Fondale of Newmark Cornish & Carey, executed the transaction.

February 2, 2016

Colorado Loans Retail Western

NorthMarq Arranges $3.7M Refinancing for Retail Buildings in Fort Collins

by Nellie Day February 2, 2016

FORT COLLINS, COLO. — NorthMarq has arranged a $3.7 million refinancing for 3636 and 3700 S. College Ave. in Fort Collins. The collateral consists of two freestanding retail buildings totaling 35,211 square feet. The center is home to a mix of local and regional tenants including Men’s Wearhouse. Mark Jeffries and Conor McCahill of NorthMarq arranged the financing for the borrower.

February 2, 2016

Office Utah Western

Price Human Services Building in Utah Changes Hands

by Nellie Day February 2, 2016

PRICE, UTAH – The Price Human Services Building, a 37,829-square-foot office building in Utah, has sold to an unnamed buyer. The price was not disclosed. The space is located at 475 West Price River Drive in Price. It is fully leased to tenants like the Utah Attorney General, the Utah Department of Workforce Services, the Utah Department of Family and Child Services, and the Utah Department of Rehabilitation Services. The seller, Fairbridge Properties, purchased the asset in 2013.

February 2, 2016

Multifamily New Jersey Northeast Top Stories

AvalonBay Buys 217-Unit Apartment Community in New Jersey for $129.7M

by Katie Sloan February 2, 2016

HOBOKEN, N.J. — AvalonBay Communities Inc. has acquired Halstead 800 Madison, a 217-unit, transit-oriented, Class A apartment community located in Hoboken, for $129.7 million. The property is located at the intersection of Madison and 8th streets. The location is one block from the 9th Street Light Rail Station, which provides access to the Hoboken PATH Station, as well as Jersey City, Bayonne and Weehawken. The PATH station, accessible by way of the property’s complimentary shuttle service, provides access to the World Trade Center and Lower Manhattan. Completed in 2008, the five-story property offers one-, two- and three-bedroom units averaging 998 square feet. The community features an expansive courtyard with a resort-style swimming pool and hot tub, sundeck, barbecue dining area, bocce court and fire pit. Other amenities include a fitness center, yoga studio, children’s playroom, pet spa, bike repair shop, 24/7 concierge service, two rooftop decks and a media room with a full kitchen and lounge seating. Jose Cruz, Andrew Scandalios, Kevin O’Hearn, Michael Oliver and Stephen Simonelli of HFF brokered the transaction on behalf of the seller, The DSF Group. HFF previously assisted The DSF Group in the acquisition of the property in late 2013. As of September 2015, …

February 2, 2016

Office Texas

CBRE Capital Markets Brokers Sale of Office Property in Austin

by Jeff Shaw February 1, 2016

AUSTIN, TEXAS — CBRE Capital Markets has brokered the sale of Donley Plaza, a 69,547-square-foot office asset in Austin. Nashville-based OakPoint Real Estate and local partner Haverwood Management purchased the asset from a California-based partnership. Donley Plaza marks the fifth office acquisition in Austin for the OakPoint/Haverwood duo. Donley Plaza, located at 2201 Donley Drive in north-central Austin, was 65 percent occupied at the time of closing. The building was constructed in 1983 and renovated in 2013. The buyer has an opportunity to lease one full floor of the building in a location just east of the Domain, a mixed-use community. OakPoint and Haverwood are partnering with a local architecture firm to redevelop Donley Plaza for creative and tech-oriented users. Additionally, the new ownership group is in the early planning stages for a build-to-suit on the adjacent vacant site, which is being marketing to large corporate users seeking value office space in and around the North Austin/Domain submarket.

February 1, 2016

Multifamily Texas

Greysteel Arranges Sale of The Brazos on Hulen in Fort Worth

by Jeff Shaw February 1, 2016

FORT WORTH, TEXAS — Greysteel has arranged the sale of The Brazos on Hulen, a 100-unit multifamily community in Fort Worth. Greysteel’s Boyan Radic, Doug Banerjee, Andrew Mueller and Ryan Hill represented the seller, Classic Asset Acquisition 3, in the sale of The Brazos on Hulen to Tyler Associates. The property includes 28 one-bedroom units, 56 two-bedroom/two-bathroom units, eight three-bedroom/two-bathroom units and eight three-bedroom/three-bathroom units.

February 1, 2016

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