HOUSTON — Locally based brokerage firm Oxford Partners has arranged the sale of a 50,130-square-foot industrial building in West Houston. According to LoopNet Inc., the property at 5919 Bonhomme Road was built on 2.7 acres in 2002 and features 30-foot clear heights and five dock-high doors. Jacob Summers & Dylan Stiteler of Oxford Partners represented the buyer, Unishow Inc., in the transaction. Martin Tijmes of eXp Realty represented the undisclosed seller.
AUSTIN, TEXAS — IBM has signed a 50,000-square-foot office and life sciences lease at Parmer Impact Labs in Austin. CBRE represented the landlord, Karlin Real Estate, in the lease negotiations. Cushman & Wakefield represented IBM. The New York-based tech giant follows University of Texas at Austin, which announced in September that it would locate its first off-campus wet lab site at Parmer Impact Labs. A timeline for occupancy was not disclosed.
PLANO, TEXAS — Holt Lunsford Commercial has negotiated a 13,936-square-foot office lease renewal and expansion at Lincoln Legacy Two in the northern Dallas suburb of Plano. Chase Stone and Caroline Hix of Holt Lunsford represented the landlord, Larson Capital Management, in the lease negotiations. Scott Jessen of Citadel Partners and Tyler Thomas of Trumont Commercial represented the tenant, The Mathworks, a provider of mathematical computing software.
JERSEY CITY, N.J. — SCALE Lending, the debt financing arm of Slate Property Group, has funded two loans totaling $243 million for a pair of multifamily properties in the Journal Square area of Jersey City. In the first transaction, SCALE provided a $160 million construction loan for a 27-story project that will be located at 626 Newark Ave. The property will house 576 units, 9,915 square feet of street-level retail and 17,747 square feet of office space, with construction slated for a 2026 completion. In the second deal, SCALE provided an $83 million bridge loan for a 27-story, 235-unit building located at 26 Van Reipen Ave. that includes 7,562 square feet of retail and 7,546 square feet of office space. Proceeds from this loan will be used to retire construction debt and fund lease-up and stabilization costs. Drew Fletcher and Bryan Grover of Greystone arranged both loans on behalf of the borrower, Namdar Group.
MassHousing Provides $21M in Financing for Mixed-Income Housing Project in Shrewsbury, Massachusetts
SHREWSBURY, MASS. — MassHousing has provided $21 million in financing for The Pointe at Hills Farm, a 93-unit mixed-income housing project in Shrewsbury, located just outside of Worcester. The borrower and developer is WinnCos. The financing consists of a $10.3 million permanent loan, $7.9 million in tax credit equity and $2.8 million from the agency’s workforce housing initiative. Of the 93 units, 56 will be reserved for households earning between 30 and 60 percent of the area median income, while 21 will be designated as workforce housing. The remaining 16 apartments will be rented at market rates. Units will come in studio, one-, two- and three-bedroom floor plans. Construction is underway and expected to last about 18 months.
NEW YORK CITY — DoorDash has signed a 115,382-square-foot office lease expansion at 200 Fifth Avenue in Manhattan. The San Francisco-based online food delivery platform is expanding from a 57,691-square-foot space that it had previously subleased to the ninth floor of the 860,000-square-foot building. Bruce Mosler, Ethan Silverstein, Anthony LoPresti and Bianca Di Mauro of Cushman & Wakefield represented the landlord, Boston Properties (NYSE: BXP), in the lease negotiations. Adam Ardise and Greg Pickett, also with Cushman & Wakefield, represented DoorDash, which plans to take occupancy of the new space before the end of the year.
ROSELLE, N.J. — Locally based brokerage firm The Kislak Co. Inc. has arranged the $6.9 million sale of Sheridan Garden Apartments, a 35-unit multifamily complex in the Northern New Jersey community of Roselle. The building was originally constructed in 1928. Joni Sweetwood of Kislak represented the seller, an entity doing business as Sheridan Estate Urban Renewal LLC, in the transaction. Sweetwood also procured the buyer, Harrison Grove Holdings LLC.
WEST CALDWELL, N.J. — Chicago-based investment firm Venture One Real Estate has acquired a 94,739-square-foot industrial building in West Caldwell, about 25 miles west of Manhattan. The multi-tenant building was fully leased at the time of sale and features a clear height of 21 feet, eight docks, two drive-in doors and 164 car parking spaces. Alex Previdi of Lee & Associates represented the undisclosed seller in the transaction.
MESA, ARIZ. — Alliance Residential has completed the disposition of Broadstone Dobson Ranch, an apartment property situated within the Dobson Ranch master-planned community in Mesa. Weidner Apartments Homes acquired the asset for an undisclosed price. Completed in 2023, Broadstone Dobson Ranch features 288 apartments, with nine-foot and 10-foot ceilings, full-size washers/dryers, walk-in closets and private patios or balconies. Community amenities include a central courtyard, resort-style swimming pool and spa, fitness center, resident clubhouse, attached and detached garages, covered parking and controlled-access entry. Steve Gebing and Cliff David of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller, and procured the buyer in the deal. Brian Eisendrath and Cameron Chalfant of IPA Capital Markets secured acquisition financing for the buyer.
GILBERT, ARIZ. — Phoenix Commercial Advisors has arranged the sale of Chandler Heights Village, a shopping center at the corner of Higley and Chandler Heights Village roads in Gilbert. The asset traded for $19.5 million, or $384 per square foot. Totaling 50,763 square feet, Chandler Heights Village was fully leased at the time of sale. Tenants include Papa John’s, Leslie’s, Edward Jones, Jersey Mike’s Subs and Phoenix Children’s Academy. Danny Gardiner and Chad Tiedeman of Phoenix Commercial Advisors represented the undisclosed seller in the deal.