BALTIMORE — Colliers has arranged a 69,408-square-foot office lease at 36 S. Charles St. in downtown Baltimore. Nathan Crowe and Katie Datin of Colliers represented the landlord, Zamir Equities, in the lease transaction. Nick Loiselle of CBRE represented the tenant, the State of Maryland. The state will utilize the space for its Supplemental Retirement Program, the Office of the People’s Counsel and the Public Service Commission. Other State of Maryland agencies that already occupy the property include the Office of Public Defender, the Department of Aging and the Department of Disabilities. The office building features an onsite fitness center, conference center, tenant lounge and 24/7 security.
Property Type
BOSTON — Mill Creek Residential has broken ground on a $145 million multifamily project in the Allston area of Boston. Modera Allston will have 240 units in studio, one-, two- and three-bedroom floor plans. Residences will be furnished with stainless steel appliances, quartz countertops, tile backsplashes and in-home washers and dryers. Amenities will include a rooftop deck, grilling areas, resident clubhouse, a speakeasy-inspired lounge with a sports simulator, coworking spaces, private workstations and offices, landscaped courtyards, pet spa and a fitness studio. CUBE3 is the project architect, and H+O is the structural engineer. The first move-ins are expected to begin in 2028.
VERONA, N.J. — CBRE has negotiated the $56 million sale of Annin Lofts, a 111-unit apartment complex in Verona, about 20 miles west of New York City. Completed in 2018, Annin Lofts consists of two buildings, one of which was constructed from the ground up, and the other of which is a conversion of the historic Annin Flag Factory. Units come in studio, one-, two- and three-bedroom floor plans. Amenities include two rooftop terraces, a resident lounge with TVs and billiards and a dog run. Jeffrey Dunne, Stuart MacKenzie, Eric Apfel, Travis Langer and Eric Greenberg of CBRE represented the locally based seller, Russo Development, in the transaction and procured the buyer, Bonjour Capital.
HAMBURG, N.Y. — San Francisco-based intermediary Gantry has arranged $48.3 million in acquisition financing across three Fannie Mae loans for a portfolio of four multifamily properties totaling 671 units in Hamburg, located just south of Buffalo. The unnamed properties were all built in the 1970s, and the loans were all structured with fixed interest rates. Tom Grzebinski and Zach Wagner of Gantry structured the deal, which involved one loan cross-collateralizing two adjacent properties that will be managed as one community. Walker & Dunlop provided the debt to an undisclosed borrower.
PARSIPPANY, N.J. — Colliers has brokered the sale of a 107,000-square-foot vacant office building in the Northern New Jersey community of Parsippany. According to LoopNet Inc., the four-story building at 45 Waterview Blvd. was originally constructed in 1997. The building was previously fully leased to DSM Nutritional Products. Jacklene Chesler, Patrick Norris, Samuel Horowitz and Brittany Leventoff of Colliers represented the seller and procured the buyer and end user, both of which requested anonymity, in the transaction.
Talonvest Capital Arranges $42.6M in Financing for Three Western Self-Storage Properties
by Amy Works
HAWTHORNE, CALIF., WAIPAHU, HAWAII, AND DENVER — Talonvest Capital has arranged $42.6 million in permanent financing across three self-storage properties on behalf of The William Warren Group. The sponsor is a privately held national real estate investment firm specializing in self-storage development, acquisition and management. The financing includes:
Thorofare Capital Provides $22M in Financing for Office-to-Residential Conversion in Los Angeles
by Amy Works
LOS ANGELES — Thorofare Capital has funded a $22 million floating-rate senior mortgage loan for an office-to-residential conversion project in Los Angeles. The undisclosed borrower plans to convert a six-story, 259,484-square-foot building along Wilshire Boulevard into a 265-unit multifamily property offering 451 onsite parking spaces.
OGDEN, UTAH — Denver-based Brinkman Real Estate has purchased Knox on 12th Apartments, a multifamily property at 1258 Grant Ave. in Ogden. Terms of the transaction were not disclosed. Built in 2020, Knox on 12th features 56 apartments with high-end interior finishes and efficient layouts.
THREE FORKS, MONT. — Marcus & Millichap has arranged the sale of Sacajawea Hotel, a historic property located at 5 N. Main St. in Three Forks. Terms of the transaction were not released. Built in 1910 and fully refurbished in 2010, Sacajewea Hotel features 36 rooms, event space, two full-service bars, including Sacajawea Bar, and Pompey’s Grill steakhouse. Huberth Marak and Adam Christofferson of Marcus & Millichap represented the seller and procured the buyer in the deal. Skyler Cooper, Chris Gomes and Allan Miller of Marcus & Millichap’s Miller-Gomes Hotel team also assisted with the transition.
BLOOMINGTON, ILL. — JLL Capital Markets has arranged the $28.4 million sale of Empire Crossing, a 229,971-square-foot retail power center in Bloomington. Anchor tenants include Dick’s Sporting Goods, HomeGoods, Ashley Furniture HomeStore and DSW. The seller, BET Investments, completed a redevelopment that converted the long-vacant Kmart anchor store into multi-tenant space. Currently 85 percent occupied, the property offers value-add potential through 33,000 square feet of vacancy across eight suites. Michael Nieder and Brian Page of JLL represented the seller. Chase Properties was the buyer.