PHILADELPHIA — Colliers has negotiated a 123,102-square-foot industrial lease renewal at 10981 Decatur Road in northeast Philadelphia. The tenant is Chaby International, a warehouse operator and distributor of rainwear and seasonal products. Richard Gorodesky and Adam Gorodesky of Colliers represented the landlord, SANT Properties, in the lease negotiations. The tenant was self-represented. Other users at the property include EMCOR Services Fluidics, a provider of building and infrastructure services, and cocoa bean warehouse operator Dependable Distribution Services.
NEW YORK CITY — HKS Real Estate Advisors has arranged a $4 million acquisition loan for One Vandam, a 14,000-square-foot retail property located in the SoHo area of Manhattan. The four-unit property at 180 Sixth Ave. was fully leased at the time of the loan closing. Eugene Weinraub and Alex Dobosh of HKS Real Estate originated the loan through locally based bridge lender Emerald Creek Capital. The borrower was New York-based CRE8 Equities.
NEW YORK CITY — Global sports streaming platform DAZN has signed an office lease at 470 Park Avenue South, a 300,000-square-foot complex in Midtown Manhattan. The square footage was not disclosed. DAZN will occupy the entire 14th floor for its new corporate headquarters. Nicholas Farmakis and John Johnson Jr. of Savills represented the tenant in the lease negotiations. Paul Amrich, Neil King III, James Ackerson and Josh Pernice of CBRE represented the landlord, SJP Properties.
PASADENA, CALIF. — Pasadena, Calif.-based ExchangeRight has purchased 13 net-leased properties as a sale-leaseback transaction with Tractor Supply. Totaling more than 425,000 square feet, the properties are in Arizona, Florida, Georgia, Indiana, Maryland, Ohio, Pennsylvania, South Carolina and Texas. With this acquisition, ExchangeRight has expanded its portfolio of assets net leased to Tractor Supply to more than 100 properties as of Oct. 31, 2024.
PANORAMA CITY AND HAWTHORNE, CALIF. — Marcus & Millichap Capital Corp. (MMCC) has arranged $13.5 million in refinancing for two multifamily properties in Panorama City and Hawthorne. Michael Derk of MMCC secured the agency financings on behalf of a private client. MMCC secured a 10-year, $7 million loan with full-term interest-only payments at 5.67 percent and a loan-to-value ratio of 50 percent for Canyon Crest Apartments. Located at 7833 Ventura Canyon Ave. in Panorama City, Canyon Crest features a mix of one-, two- and three-bedroom units, a spa, swimming pool, fitness center, parking garages, a dog park and picnic area. MMCC arranged a 10-year, $6.5 million loan with full-term interest-only payments at a rate of 5.9 percent and a loan-to-value ratio of 65 percent for Hawthorne Chateau Apartments. Located at 3505 W. 139th St. in Hawthorne, the property offers a mix of one- and two-bedroom apartments, laundry facilities, a fitness center and an underground gated parking garage.
BUCKEYE, ARIZ. — Canada-based Highstreet Ventures has acquired a 17.8-acre parcel adjacent to Summit Community Church, which is located at 20555 W. Roosevelt St. in Buckeye, for $9.3 million. Highstreet Ventures plans to develop a 510-unit multifamily property on the site. The proposed three-story community will offer 144 studio units, 150 one-bedroom units and 216 two-bedroom layouts, as well as a clubhouse and pool. Michael Farrar and Art Rullo of Marcus & Millichap’s Phoenix office represented the buyer, while Bret Rinehart and Wesley Campbell of Land Advisors Organization represented the seller, Summit Community Lutheran Church, in the transaction.
SAN DIEGO — JLL Capital Markets has negotiated the sale of a fully vacant flex office building located at 16980 Via Tazon in San Diego. Montana Avenue Capital Partners sold the asset to a private investor for $9.9 million in an all-cash, off-market transaction. Built in 1984, the single-story, 35,312-square-foot property can accommodate a variety of uses, including wet/dry lab, manufacturing and creative office space. The building features 14- to 16-foot clear heights and roll-up doors for grade-level loading. Bob Prendergast, Lynn LaChapelle and Zac Saloff of JLL Capital Markets Investment Sales and Advisory team represented the seller in the deal.
MONROVIA, CALIF. — Lee & Associates has arranged the sale of Huntington Professional Center, an office and medical center in Monrovia. The asset traded for $7.6 million. The names of the seller and buyer were not released. Located at 831 E. Huntington Drive, the two-story, 20,574-square-foot property offers 76 surface parking stalls. At the time of sale, the building was fully occupied by a variety of tenants, including Optum Healthcare, Tomdan (parent of Tommy Burgers) and Select Physical Therapy.
CROWN POINT, IND. — Venture One Real Estate has unveiled plans to build VenturePark65, a 135-acre logistics campus in Crown Point, a city in northwest Indiana. The development, located at the southeast corner of 101st Avenue and I-65, will encompass up to 2 million square feet of modern industrial space. Flexible building designs will accommodate large-scale users, with spaces ranging from 500,000 to 2 million square feet. Brian Vanosky and Michael O’Leary of Lee & Associates will market the property for lease.
CHICAGO — Skender and its joint venture partner Blackwood Group have completed extensive renovations of two senior living apartment towers in partnership with the Chicago Housing Authority and Michaels Development. Canopy Architecture designed the 400,000-square-foot renovation project. Located at 3700 W. Congress Parkway in the East Garfield Park neighborhood, Irene McCoy Gaines Apartments rises 17 stories with 150 units. The property was built in 1964. All units underwent substantial renovations, including updated HVAC, electrical and plumbing systems. Skender added new amenity spaces such as a redesigned dining and community room, exterior courtyard and upgraded laundry spaces. Albany Terrace Apartments, located at 3030 W. 21st Place in the South Lawndale neighborhood, rises 17 stories with 350 units. The property was built in 1974. The building received upgrades to resident units, common spaces and HVAC systems, including electrical and plumbing systems. Skender also installed a new elevator. Each unit in both buildings received new flooring, paint, LED lights, kitchens and baths, and air conditioning and thermostats. Common areas and units received upgraded internet connectivity and Wi-Fi.