Thursday, July 30, 2026
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IndustrialNortheast

EAGLEBRIDGE ARRANGES $3.8M FOR INDUSTRIAL BUILDING

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WEST BRIDGEWATER, MASS. — EagleBridge Capital has arranged $3.8 million in long-term financing for a solar rooftop installation at One United Drive in West Bridgewater, about 30 miles south of Boston. Tenants at the 315,000-square-foot distribution building include Cheer Pack North America, which occupies 187,500 square feet and Federal Express, which occupies 88,500 square feet. Brian Sheehan and Ted Sidel of EagleBridge arranged the financing. A Massachusetts-based financial institution, acting on behalf of United LLC, provided the loan.

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NortheastOffice

TWO TENANTS SIGN LEASES AT VANTAGE COURT IN SOMERSET

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SOMERSET, N.J. — CBRE Group Inc. has arranged two office lease transactions totaling 7,506 square feet within Vantage Court, a 208,700-square-foot, two-building complex in Somerset. Joseph Sarno, Jeremy Neuer and Frank Foldetta of CBRE represented the owner, The Winter Organization, in both transactions. In the first deal, an insurance provider signed a lease for 4,251 square feet. Robert Shulman and James Scancarella of Cresa represented the tenant in the transaction. In the second transaction, Olsson and Co. LLC signed a 3,140-square-foot lease. Chris Hovanec and Sam Horowitz of DTZ Corporate Real Estate represented the accounting firm, which is relocating from 230 Davidson Ave. in Somerset. The property is located at 200 Cottontail Lane.

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Mixed-UseTexas

CONSTRUCTION OF $100M KINGWOOD PARK TO BEGIN IN SPRING 2014

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HOUSTON — Jefco Development Corp. and Crestwood Realty Group have announced a spring 2014 groundbreaking for the 600,000-square-foot, $100 million Kingwood Parc City Center in northeast Houston. The mixed-use development will include 300,000 square feet of retail space, 250,000 square feet of office space and 300 apartments. Kingwood, a master-planned community of 65,000 residents, currently contains mostly grocery-anchored shopping centers and small strip malls.

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MultifamilyTexas

BERKELEY POINT FINANCES $12.5M DALLAS APARTMENT ACQUISITION

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DALLAS — Berkeley Point Capital has provided Baron Properties with $12.5 million in acquisition financing for the purchase of the Maple Gardens apartment community in Dallas. The acquisition of the 120-unit Class A property is part of Baron’s expansion into the multifamily market of Texas, where the firm has an existing industrial portfolio. The loan, structured under the Fannie Mae DUS program, has a 10-year term with two years of interest-only payments at a fixed rate of 4.33 percent and a 30-year amortization schedule. Jeff Riggs and Scott Fisher of Baron partnered with the American National Insurance Co. on the deal.

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IndustrialTexas

FOUNDERS BUYS 124,042 SF ELTEK WAREHOUSE IN PLANO

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PLANO, TEXAS — Founders Properties has purchased the Eltek North American Headquarters building, a 124,042-square-foot Class A build-to-suit warehouse close to U.S. Highway 75 and President George Bush Turnpike in Plano. CBRE represented the seller, Argent Property Co., and worked on behalf of the buyer to secure a permanent loan through EverBank. The property, completed in December 2012, is 100 percent leased and located in Plano’s Research and Technology District.

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MultifamilyWestern

SOMA STUDIOS IN SAN FRANCISCO SELLS FOR $7.5M

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SAN FRANCISCO — SoMa Studios, a 23-micro-unit apartment building in San Francisco’s South of Market (SoMa) district has sold to a buyer that was in a 1031 exchange for $7.5 million. The community is located at 38 Harriet Street. It is leased to California College of the Arts, which uses the 295-square-foot micro-apartments as a dormitory. CBRE’s Michael Thomas and Toby Costello represented both the buyer and the seller, a partnership led by Patrick Kennedy of Panoramic Interests, in this all-cash transaction.

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OfficeWestern

ALZHEIMER’S ASSOCIATION BUYS IRVINE OFFICE BUILDING FOR $5.1M

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IRVINE, CALIF. – The Alzheimer’s Association has purchased a 30,000-square-foot office building in Irvine for $5.1 million. The association will use the office building as its new Orange County headquarters. The property is located at 2515 McCabe Way. The building is set to begin a five-month renovation in September 2013. The transaction was executed by David Girty and Marty Stradtman of Coldwell Banker Commercial.

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RetailWestern

TEMECULA RETAIL BUILDING SELLS FOR $3.5M

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TEMECULA, CALIF. – A 13,630-square-foot retail building in Temecula has sold to Aro Partners for $3.5 million. The free-standing building is located at 40810 Winchester Road. It is 75 percent leased to Hallmark and Beauty One Cosmetics Supply store. The property fronts the Promenade Temecula. The 1031 exchange buyer was represented by Nick Frasco of Voit. The seller, Temecula Pad H LLC, was represented by Jeff Conover of Faris Lee Investments.

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MultifamilyWestern

THE WESTRIDGES APARTMENT COMPLEX IN TACOMA SELLS FOR $64.5M

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TACOMA, WASH. — The Westridges, a 714-unit apartment community just outside downtown Tacoma, has sold to JRK Investors for $64.5 million. This 62-building property is the largest apartment community in Pierce County and the fourth largest in the Puget Sound region. The 37.1-acre site is located at 2602 Westridge Ave. West. The community was completed in 1991. The sale was executed by David Young, Corey Marx and Seth Heikkila of Jones Lang LaSalle’s Capital Markets. The seller was not named.

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