BLOOMINGTON, ILL. — SVN Core 3 has brokered the sale of a fully leased office property at 205 N. Williamsburg Drive in Bloomington for $1.1 million. The asset features five units totaling 11,311 square feet along with a dedicated parking lot. Carrie Tinucci-Troll of SVN Core 3 represented both the buyer, Good Cos. Properties LLC, and the seller, Core-Williamsburg LLC. Both entities are based in Bloomington.
HOUSTON — Partners Real Estate has negotiated a 164,640-square-foot industrial lease within Cedar Port Industrial Park in southeast Houston. The tenant, German freight and forwarding operator deugro, will occupy the entirety of the cross-dock building at 2828 FM 1405, which sits on 47 acres and features 214 doors and 1,000 trailer positions. Gray Gilbert and Chris Haro of Partners represented the landlord, Illinois-based Dayton Street Partners, in the lease negotiations. Zane Carman, also with Partners represented the tenant.
FORT WORTH, TEXAS — UMC Energy Solutions has signed a 25,898-square-foot industrial lease in North Fort Worth. The provider of oil and gas production systems is taking space at Sylvania Industrial Park, a 64-acre, rail-served development that spans 890,000 square feet. Vic Meyer, Trey Goodspeed and Carter Sells of Holt Lunsford Commercial represented the tenant in the lease negotiations. Todd Hubbard of NAI Robert Lynn represented the landlord, CanTex Capital.
WALDWICK, N.J. — Locally based investment firm Invel Capital has acquired Waldwick Station, a 111-unit apartment complex in Northern New Jersey, for $39 million. Built in 2017, Waldwick Station features one- and two-bedroom units and roughly 1,000 square feet of retail space that is leased to a café/creperie. Amenities include a rooftop terrace, fitness center and a resident lounge. Brian Whitmer, Niko Nicolaou and Ryan Dowd of Cushman & Wakefield brokered the off-market deal. The seller was not disclosed. Michael Klein, Gerard Quinn and John Cumming of JLL arranged acquisition financing through an undisclosed lender on behalf of Invel Capital. Ben Schlegel and Paul McCormick of Ariel Property Advisors arranged $9 million in joint venture equity for the deal through an undisclosed partner.
SOUTHBRIDGE, MASS. — Regional brokerage firm Chozick Realty has arranged the $11.1 million sale of Southbridge Fair, a 113,500-square-foot shopping center located along the Massachusetts-Connecticut border. Big Y World Class Market anchors the center, which was originally built on 13 acres in 1972 and renovated in 1996. The center was fully leased at the time of sale, and other tenants include Advance Auto Parts, Aubuchon Hardware, McDonald’s, Family Dollar and Great Clips. Tom Boyle of Chozick Realty represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
CALVERTON, N.Y. — Corniche Capital, a New York-based real estate investment and private equity firm, has purchased a 189,631-square-foot industrial property in the Long Island hamlet of Calverton. The sales price was $15.2 million. The site at 901-931 Burman Blvd. spans 20 acres and can support future expansion, and the building features a clear height of 48 feet, oversized drive-in doors and ample outdoor storage space. JLL represented the seller, KABR Group, in the transaction.
MELVILLE, N.Y. — The Long Island Board of Realtors has signed a 24,585-square-foot office lease in Melville, about 25 miles east of Queens. The lease term is 15 years. The space is located on the third floor of the building at 1305 Walt Whitman Road, which according to LoopNet Inc. was originally built in 1955 and totals 165,310 square feet. Harvey Kolin of Corporate Commercial Realty LLC represented the tenant in the lease negotiations. Tim Parlante and Andrew Wiener internally represented the landlord, The Feil Organization.
WESTFIELD, N.J. — REDCOM Design & Construction has completed a 22-unit supportive housing project in Westfield, about 25 miles southwest of Manhattan. The building at 1003 N. Avenue W houses one-bedroom units that are reserved for formerly homeless and at-risk veterans, who as residents will have access to mental health and career training services. REDCOM partnered with The Foundation for Sustainable Veteran Housing and American Legion on the project, with the Westfield chapter of the latter entity being the owner.
SAN DIEGO — MG Properties has acquired Park 12 Apartments, a 35-story multifamily tower located in downtown San Diego, for $309 million. The transaction is the largest multifamily acquisition in San Diego since 2020 and the third-largest multifamily acquisition in the city’s history, according to the locally based buyer. Built in 2018, the community is located adjacent to Petco Park, home of the San Diego Padres Major League Baseball team, and within the Ballpark Village master-planned community. The property offers a mix of studio, one-, two- and three-bedroom units, including penthouse apartments with exclusive access to a lounge on the 32nd floor. Shared amenities include saltwater and heated pools with poolside event space, a 24-hour fitness center, golf simulator and putting green, sun deck and spa, dog park, coffee and herbal tea bar, clubroom, sports lounge, game room and courtyards with outdoor seating, grilling areas and fire pits. Joseph Smolen and Geoff Boler of Eastdil Secured represented the seller, Charleston, S.C.-based Greystar, in the transaction. Greg Stampley and Lee Redmond, also with Eastdil Secured, originated a Fannie Mae acquisition loan of an undisclosed amount on behalf of MG Properties. San Diego-based MG Properties is a privately owned real estate firm specializing …
By Mike Stromberg, Opus Kansas City made the list of emerging industrial markets back in 2016, and over the last nine years has more than proven itself to be a viable, profitable and competitive environment for development. Many rightly attribute the market’s continued growth to its central location within the U.S. as well as its transportation infrastructure, which includes the city’s location on the largest navigable inland waterway, at the cross-section of three interstate highways and in the middle of cross-country rail corridors running from Canada to Mexico and from coast to coast. These are unquestionably appealing features for businesses that want and need to quickly distribute products and access customers. Other qualities often lauded include a strong skilled labor pool with an estimated 2.4 million people — nearly 23 percent between the ages of 18 to 34 — living within a 50-mile radius of the city; a cost of living up to 14 percent lower than the national average; a historically low unemployment rate; and increasing wages above the national average. What really puts Kansas City on the map for developers, though, is how the state of Missouri has created a pro-business environment that leverages and advances these strengths. …
