Property Type

Mission Capital Arranges $16.5M Loan for Valley Square Office Complex in Pennsylvania

by Amy Works March 30, 2016

BLUE BELL, PA. — Mission Capital Advisors has arranged a $16.5 million bridge loan for Valley Square, an office complex located at 512 Township Line Road in Blue Bell. Steven Buchwald and Lexington Henn of Mission Capital secured the loan for the borrower, Contrarian Capital Management. After acquiring the five-building, 289,194-square-foot complex in 2013 for $8.5 million, Contrarian and its operating partner, Corvest Realty Group, implemented millions of dollars of capital improvements at the property and substantially leased many of the upgraded buildings. Originally constructed in 1983, the property is located approximately 20 miles northwest of Philadelphia.

March 30, 2016

Industrial New York Northeast

Marcus & Millichap Negotiates $4.6M Sale of Brooklyn Industrial Building

by Amy Works March 30, 2016

NEW YORK CITY — Marcus & MIllichap has negotiated the sale of an industrial building located at 1077-1081 Atlantic Ave. in Brooklyn. A limited liability company acquired the 11,500-square-foot facility for $4.6 million. Jakub Nowak and Jason Grunberg of Marcus & Millichap’s Brooklyn office represented the seller, an individual/personal trust, while Nowak, Grunberg and Jim McGuckin, also of Marcus & Millichap, represented the buyer in the transaction.

March 30, 2016

Industrial New Hampshire Northeast

CBRE/NE Arranges 132,241 SF Distribution Lease in New Hampshire

by Amy Works March 30, 2016

MERRIMACK, N.H. — CBRE/New England has arranged a long-term lease for 132,241 square feet of distribution space at a manufacturing/distribution facility located at 59 Daniel Webster Highway in Merrimack. Law Warehouse Inc., one of the largest distribution companies in New England, will occupy the space at the 473,990-square-foot facility, which is owned by an affiliate of Hackman Capital Partners. Roger Dieker and Michael Tamposi of CBRE/NE represented the landlord, while Larry Hirsch of Hirsch & Co. represented the tenant in the transaction.

March 30, 2016

Park-20-Distribution-Center-Arch-Con-Construction-Lancaster-Texas

Industrial Texas

Arch-Con to Build 468,000 SF Distribution Center in Metro Dallas

by Haisten Willis March 30, 2016

LANCASTER, TEXAS — Arch-Con Construction, a design-build general contractor, plans to break ground on a 468,000-square-foot distribution center in Lancaster, a southern suburb of Dallas. The company is breaking ground in April on Park 20 Distribution Center on behalf of developer Huntington Industrial Partners. The project will be a tilt-wall, cross-dock distribution center with a 32-foot clear height on a 36-acre site. Additionally, Arch-Con Construction has opened a new office in Dallas. Arch-Con’s Dallas office is located in Preston Center at 8235 Douglas Ave., Suite 1000.

March 30, 2016

Industrial Office Texas

Henry S. Miller Arranges Sale of Flex Building in Dallas

by Haisten Willis March 30, 2016

DALLAS — Parvez Malik of Henry S. Miller’s investments and land division has sold a 41,000-square-foot office/warehouse building in Dallas. Located at 1750 Regal Row, the property is near I-35 and Dallas Love Field Airport. Sumair Trading Inc. purchased the building from Regal Row Center Ltd. Malik represented Sumair Trading in the transaction, while James Mantzuranis of Stream Realty represented the seller.

March 30, 2016

Loans Multifamily Seniors Housing Texas

Dougherty Secures $3M Loan for Seniors Housing Complex in Metro Dallas

by Haisten Willis March 30, 2016

DESOTO, TEXAS — Dougherty Mortgage LLC has secured a $3 million HUD loan for the refinancing of Cedar Green Living Center, a 105-unit seniors housing property located in DeSoto. Dougherty’s Dallas office arranged the 33-year loan on behalf of the borrower, Senior Christian Living Foundation.

March 30, 2016

Multifamily Texas

Greysteel Arranges Sale of El Sol Del Lago Apartments in Dallas

by Haisten Willis March 30, 2016

DALLAS — Greysteel has arranged the sale of El Sol Del Lago, a 318-unit apartment community in Dallas. Boyan Radic, Doug Banerjee, Andrew Mueller and Ryan Hill of Greysteel represented Oradell Lane Holdings LP in the sale of El Sol Del Lago to Diamond Villa Apartments LLC. Located in the Bachman Lake neighborhood of Dallas, El Sol Del Lago is a garden-style community near Northwest Highway and Webb Chapel Road.

March 30, 2016

Multifamily Retail Texas

UCD Purchases 21 Acres in Metro Dallas for Future Retail, Multifamily Projects

by Haisten Willis March 30, 2016

SAGINAW, TEXAS — Robert Dorazil of United Commercial Development (UCD) has purchased a 21-acre property on the southwest corner of Bailey Boswell Road and FM-156 in Saginaw. Edward Bogel and David Davidson Jr. of Davidson & Bogel Real Estate brokered the transaction. UCD will be developing retail shop space on the property and is working with DB2RE on the retail pad sites, as well as selling multifamily land on the south side of the property.

March 30, 2016

Waterfront Station II 1000 Fourth Street SW Washington DC

District of Columbia Mixed-Use Southeast

PN Hoffman to Develop 400,000 SF Mixed-Use Project in Southwest D.C.

by John Nelson March 30, 2016

WASHINGTON, D.C. — The Office of the Deputy Mayor for Planning and Economic Development (DMPED) has selected PN Hoffman for the redevelopment of Waterfront Station II in southwest Washington, D.C. DMPED has approved PN Hoffman’s plans, which include a LEED Gold-certified mixed-use asset spanning 400,000 square feet. The project will comprise 310 market-rate apartment residences, 133 affordable multifamily units, 20,000 square feet of retail space and a 10,000-square-foot theater space. The development will be located on a 59,000-square-foot lot at 1000 Fourth St. S.W. The project team includes Paramount Development, ER Bacon Development, CityPartners and AHC Inc. PN Hoffman is also underway on The Wharf, 525 Water and Riverside Baptist Church in southwest D.C.

March 30, 2016

Georgia Multifamily Southeast

CBRE Arranges $64M Sale of Apartment Community in North Atlanta Suburb

by John Nelson March 30, 2016

KENNESAW, GA. — CBRE has brokered the $64 million sale of Mountain Park Estates, a 450-unit apartment community in Kennesaw, a northern suburb of Atlanta in Cobb County. White Oak Partners purchased the asset from Arenda Capital Management. White Oak plans to renovate the property with new flooring, lighting, hardware, granite countertops and stainless steel appliances. The apartment community is located directly across the street from a Whole Foods Market set to open later this year. Shea Campbell and Kevin Geiger of CBRE’s Southeast Multifamily Group represented Arenda Capital Management in the sale. Multifamily research firm Axiometrics reports that Kennesaw’s multifamily market has a 1 percent vacancy rate in its Class A subsector and as a whole the market will generate 22.9 percent in total rent growth over the next five years.

March 30, 2016

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