Property Type

Bridge-Point-99-South-Brunswick-New-Jersey

Mesa West Provides $53.5M Construction Loan for Central New Jersey Industrial Project

by Taylor Williams January 15, 2024

SOUTH BRUNSWICK, N.J. — Mesa West Capital has provided a $53.5 million construction loan for Bridge Point 99, a 291,578-square-foot industrial project in South Brunswick, located north of Trenton in Central New Jersey. The site at 999 Cranbury South River Road spans 26.6 acres. The rear-load building will feature a clear height of 40 feet, 47 loading doors, two drive-in doors, 130-foot truck court depths and parking for 49 trailers and 181 cars. Delivery is slated for the second quarter. Steve Roth and Ryan Kieser of CBRE arranged the debt on behalf of the borrower, Bridge Industrial.

January 15, 2024

Loans Multifamily New York Northeast

SCALE Lending Funds $46M Bridge Loan for Brooklyn Apartment Complex

by Taylor Williams January 15, 2024

NEW YORK CITY — SCALE Lending, the debt financing arm of Slate Property Group, has funded a $46 million bridge loan for Arris Grand, a 113-unit apartment building located at 982-998 Fulton St. in Brooklyn’s Clinton Hill neighborhood. Completed late last year, the nine-story building offers studio, one- and two-bedroom units and amenities such as a fitness center, rooftop terrace and lounges, as well as 7,154 square feet of street-level retail space. Fogarty Finger designed Arris Grand. The undisclosed borrower will use the proceeds to retire existing construction debt and fund costs of lease-up.

January 15, 2024

Acquisitions Multifamily New Jersey Northeast

Cushman & Wakefield Brokers Sale of Multifamily Development Site in Iselin, New Jersey

by Taylor Williams January 15, 2024

ISELIN, N.J. — Cushman & Wakefield has brokered the sale of a multifamily development site in the Northern New Jersey community of Iselin. The site at 186 Wood Ave. S. is located within the Centra at Metropark office campus. Andrew Merin, David Bernhaut, Gary Gabriel, Frank DiTommaso and Ryan Larkin of Cushman & Wakefield represented the seller, The Hampshire Cos., in the transaction. The buyer, Woodmont Properties, did not disclose specific plans for development but did say that the project would include seniors housing.

January 15, 2024

Acquisitions New Jersey Northeast Retail

JLL Negotiates $16.1M Sale of Grocery Store in Saddle Brook, New Jersey

by Taylor Williams January 15, 2024

SADDLE BROOK, N.J. — JLL has negotiated the $16.1 million sale of a 62,504-square-foot grocery store in the Northern New Jersey community of Saddle Brook that is leased to ACME Markets, a subsidiary of Albertsons. ACME has occupied the property at 75 Mayhill St. since it was built in 1998. Jose Cruz, Kevin O’Hearn, J.B. Bruno and Austin Pierce of JLL represented the seller, Vision Real Estate Partners, in the transaction. The buyer was The Winter Organization.

January 15, 2024

Industrial Loans New York Northeast

ERG Commercial Arranges $7.5M Loan for Refinancing of Staten Island Industrial Property

by Taylor Williams January 15, 2024

NEW YORK CITY — New York-based ERG Commercial has arranged a $7.5 million bridge loan for the refinancing of a vacant, 40,000-square-foot industrial property on Staten Island. The site at 501 Industry Road spans nine acres and was originally built in 1975, according to propertyshark.com. Ryan Lewis and Matthew Murphy of ERG Commercial arranged the loan. The direct lender and borrower were not disclosed.

January 15, 2024

Development Michigan Midwest Mixed-Use

Oxford Cos., Crawford Hoying Unveil Plans for 20-Acre Arbor South Mixed-Use Development in Ann Arbor, Michigan

by Kristin Harlow January 15, 2024

ANN ARBOR, MICH. — Ann Arbor-based Oxford Cos. and Dublin, Ohio-based Crawford Hoying have unveiled plans to build Arbor South, a 20-acre mixed-use development in Ann Arbor’s south side. The multi-phased project is expected to include approximately 1,000 residential units, 76,000 square feet of ground-floor commercial space, three parking garages, an upscale hotel and multiple parks and community gathering spaces. Adjacent to I-94, the project site is located at Eisenhower Parkway and South State Street. Arbor South would be the first project on the city’s south side to receive approval under the City of Ann Arbor’s TC1 zoning ordinance, an initiative designed to increase density in areas outside of downtown Ann Arbor with a heavy focus on adding accessible housing to the market. Arbor South’s residential offerings will range from studios to three-bedroom apartments. Approximately 10 to 15 percent of the units will fall under the city’s affordable housing threshold. Additional project partners include Detroit-based architecture and design firm Lord Aeck Sargent and Ann Arbor-based civil engineer Midwestern Consulting. The development team is targeting fall 2024 for site plan approval, with the first residential building coming on line in summer 2026.

January 15, 2024

Loans Midwest Minnesota Office

Associated Bank Arranges $145.2M in Construction Financing for 400,000 SF Office, Lab Building in Suburban Minneapolis

by Kristin Harlow January 15, 2024

MAPLE GROVE, MINN. — Associated Bank has arranged $145.2 million in construction financing for a three-story, single-tenant office and laboratory building in the Minneapolis suburb of Maple Grove. The build-to-suit property for an undisclosed tenant will total 400,000 square feet, including 320,000 square feet of office space and 80,000 square feet of state-of-the-art laboratory space. Employee amenities will include a conference center, credit union/bank, cafeteria, coffee shop, fitness center, bike room, e-bar, game room and green space. Construction is underway with completion slated for late 2025. Ryan Cos. US Inc. is the developer. Steve Clifford of Associated Bank handled the loan arrangements and closing. The syndicated deal included a total of four lenders. Associated Bank served as joint lead arranger and administrative agent, holding $50 million of the total financing package. The other three lenders were First National Bank of Omaha, Alerus Financial NA and Johnson Bank.

January 15, 2024

Acquisitions Illinois Midwest Multifamily

Kiser Group Brokers $7.6M Sale of Multifamily Property in Chicago’s Edgewater Neighborhood

by Kristin Harlow January 15, 2024

CHICAGO — Kiser Group has brokered the $7.6 million sale of a 39-unit multifamily property in Chicago’s Edgewater neighborhood. Katie LeGrand and Jacob Price of Kiser represented the seller, Sam Grossman, managing partner of Fairchild Acquisition. Danny Logarakis of Kiser represented the undisclosed buyer. The seller completed a full renovation of the property in June 2020. The asset was more than 97 percent occupied at the time of sale. The buyer was able to assume debt at a low interest rate for another few years.

January 15, 2024

Development Industrial Midwest Ohio

Brinkmann Constructors Completes 291,400 SF Spec Warehouse in Gahanna, Ohio

by Kristin Harlow January 15, 2024

GAHANNA, OHIO — Brinkmann Constructors has completed a 291,400-square-foot speculative warehouse in Gahanna, a northeast suburb of Columbus. Scannell Properties was the developer, and Ford & Associates served as the architect. Located in Eastgate Logistics Center, Gahanna Building A features a clear height of 32 feet, two drive-in bays, 180 standard parking spaces and 30 exterior docks.

January 15, 2024

Illinois Leasing Activity Midwest Retail

Burlington Signs 22,104 SF Retail Lease in Streamwood, Illinois

by Kristin Harlow January 15, 2024

STREAMWOOD, ILL. — Burlington has signed a 22,104-square-foot retail lease at 980 S. Barrington Road in Streamwood, a northwest suburb of Chicago. The retailer will occupy the space beginning later this year. The new lease brings the previously vacant building totaling 81,000 square feet to full occupancy. Value City Furniture previously occupied the entire property, which has now been split into three units. CBRE also arranged the other leases with Aldi (23,589 square feet) and Ollie’s (33,000 square feet). Joe Parrott and Sean McCourt of CBRE represented ownership, Diehl LLC. The building is located within Westview Center, a 350,000-square-foot power center.

January 15, 2024

Newer Posts

Older Posts