PEARLAND, TEXAS — EDGE Realty Partners has negotiated the sale of a 14,410-square-foot industrial building located at 14724 Almeda School Road in Pearland, a southern suburb of Houston. According to LoopNet Inc., the single-tenant building was constructed on 2.4 acres in 2019 and features 28-foot clear heights and five dock-high loading doors. Micha van Marcke and Chace Henke of EDGE represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.
NEWPORT, R.I. — International developer and construction firm Skanska has broken ground on a $147 million project for the U.S. Navy in Newport, Rhode Island. The facility will serve as the new operations center for the National Oceanic & Atmospheric Administration. The project will include the construction of a new pier to accommodate four large vessels and associated utilities, as well as a supporting 22,129-square-foot administration building with parking, exterior storage and an adjacent loading and laydown area. Construction began in December and is expected to be complete by 2027.
MANCHESTER, CONN. — Marcus & Millichap has brokered the $19.2 million sale of Manchester Parkade, a 302,000-square-foot shopping center located on the eastern outskirts of Hartford. Tenants at the center, which originally opened in 1962, include Dollar Tree, Planet Fitness, Kidzone and the State of Connecticut Department of Children’s Services. Jim Koury and Alex Quinn of Marcus & Millichap represented the seller, the estate of Leon Charney, in the transaction. The buyer was not disclosed. John Krueger of Marcus & Millichap assisted in closing the deal as the broker of record.
BARNEGAT, N.J. — JLL has arranged an $8.3 million loan for the refinancing of Barnegat Village Square, a 70,491-square-foot shopping center on the Jersey Shore. The center was built in 1998 and was 97 percent leased at the time of the loan closing, with grocer ACME Markets serving as the anchor tenant. Other tenants include Barnegat Wine & Spirits, China King, AtlantiCare Urgent Care, Marchioni’s, Dazzlz Salon and Burger King. Jim Cadranell and Michael Mataras of JLL arranged the 10-year, fixed-rate loan through Provident Bank on behalf of the borrower, an affiliate of Walters Group.
MORRISTOWN, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $6.8 million sale of Ridgedale Commons, a 29-unit apartment complex that is under construction in the Northern New Jersey community of Morristown. The property will ultimately comprise one one-bedroom unit, 27 two-bedroom units and one three-bedroom unit, with four residences being subject to income restrictions. Joseph Keenan of Kislak represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
JERSEY CITY, N.J. — RegenLab USA, a manufacturer of equipment for regenerative cell therapies, has signed a 15,792-square-foot life sciences lease in Jersey City. RegenLab will relocate from the Brooklyn Army Terminal to the sixth floor of the building at 95 Greene St., which was originally constructed as a manufacturing facility for Colgate Palmolive, later this year. Dan Spero, Blake Goodman, John Cahill, Bob Ryan and Craig Eisenhardt of JLL represented the landlord, Thor Equities Group, and RegenLab in the lease negotiations.
PHOENIX — ViaWest Group has completed the disposition of Blackhawk Corporate Center, a three-building office and medical campus in Phoenix’s Deer Valley submarket. Big Sky Medical Real Estate acquired the asset for an undisclosed price. Built in 1997 and 1998, the 252,350-square-foot campus was 96 percent leased at the time of sale to a variety of office and medical users. Blackhawk Corporate Center is located at 20401 N. 29th Ave. and 2902 and 3010 W. Agua Fria Way, with immediate freeway visibility and accessibility from Interstate 17 and Loop 101 and a parking ratio of 5.33/1,000. Steve Lindley, Alexandra Loye, Eric Wichterman and Mike Coover with Cushman & Wakefield represented the seller in the deal.
GILBERT, ARIZ. — Wood Partners has completed the sale of Alta Cooley Station, a mid-rise multifamily community within Cooley Station in Gilbert, southeast of Phoenix. A California-based private individual acquired the asset for $80 million, or $322,581 per unit. Alta Cooley Station features 248 apartments, a swimming pool, spa, outdoor entertainment space, open-concept leasing office/clubhouse, micro-offices, a private conference room and workspaces. Apartments have expansive floor plans, nine- and 10-foot ceilings, extra-wide entryways, laundry closets with full-size washers and dryers, and a private patio or balcony. The average unit size is 957 square feet. Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the transaction.
MODESTO, CALIF. — The Mogharebi Group (TMG) has brokered the sale of Edge at Lakewood Apartments, a multifamily property in Modesto, located south of Sacramento and east of the Bay Area. Osso Capital and Graceada Partners sold the property for $42.7 million. Located at 1401 Lakewood Ave., Edge at Lakewood features 196 one- and two-bedroom units ranging from 598 square feet to 880 square feet. Community amenities include a fitness center, clubhouse, pool and covered parking. The property was built in 1985 on 7.63 acres. The deal closed at the end of December and marked the largest multifamily transaction in California’s Central Valley in 2023, according to TMG. The buyer was not disclosed.
ENGLEWOOD, COLO. — Orion Real Estate Partners has acquired Fielders Creek, a multifamily community located at 3205 W. Floyd Ave. in Englewood, a suburb south of Denver. Terms of the transaction were not released. Situated on 7.3 acres, the 170,713-square-foot community features nine two- and three-story buildings offering 217 studio, one- and two-bedroom units with an average size of 787 square feet. Community amenities include a game room, 24-hour fitness center, resort-style pool, grilling and picnic areas, 272 parking spaces, a playground and dog park. Built in 1983, Fielders Creek has undergone multiple renovation programs and leaves the new owner the opportunity to invest in interior refreshments. Terrance Hunt, Shane Ozment, Andy Hellman and Justin Hunt of CBRE represented the undisclosed seller in the deal.