more_sales_and_leases

Greysteel Secures Acquisition Financing for Green House Apartments in Arlington

by Haisten Willis July 13, 2016

ARLINGTON, TEXAS — Greysteel has secured agency financing for the acquisition of the Green House Apartments, a multifamily property located in Arlington, on behalf of 2405 E. Park Row Drive LLC. The 10-year, non-recourse Fannie Mae loan was provided by an undisclosed agency lender. The loan features a fixed interest rate of 4.5 percent and an 83 percent loan-to-cost ratio. Greysteel’s Anton Mattli and John Marshall Doss negotiated the transaction. The Green House Apartments was built in 1966 and totals 40 units.

July 13, 2016

Lee & Associates Negotiates 74,252 SF Industrial Sale in Metro Dallas

by Haisten Willis July 13, 2016

CARROLLTON, TEXAS — Lee & Associates has negotiated the sale of a 74,252-square-foot industrial building located at 1421 Patton Place in Carrollton. Nathan Denton, Adam Graham and Corbin Blount of Lee & Associates’ Dallas/Fort Worth office represented the seller, 1700 Broadway Associates. Ryan Boozer with Stream Realty Partners represented the buyer, Maxcom Properties.

July 13, 2016

Iowa Midwest Retail

BW GAS & Convenience to Acquire 21 Convenience Stores Throughout Iowa

by Christina Cannon July 13, 2016

DES MOINES, IOWA — Des Moines-based BW GAS & Convenience Holdings LLC, an affiliate of Brookwood Financial Partners LLC, will acquire 21 convenience stores located in Iowa from Kum & Go L.C. The first three stores, located in Mason City, are being acquired this week, and the remaining 18 acquisitions will take place over the next four weeks. With these acquisitions, BW GAS & Convenience will own 31 stores in Iowa, and the company plans to acquire between 600 and 1,000 convenience stores throughout the United States over the next several years. In conjunction with the acquisitions, BW GAS & Convenience will begin rolling out a new national convenience store brand named Yesway, which will also be headquartered in Des Moines. BW GAS & Convenience plans to spend approximately $6.7 million to upgrade and remodel the stores that will be rolled into the Yesway portfolio, which will feature an expanded product assortment and food service offerings.

July 13, 2016

Florida Industrial Southeast

Clarion Partners Purchases Industrial Complex in Broward County for $77.3M

by John Nelson July 13, 2016

POMPANO BEACH, FLA. — Clarion Partners has purchased Pompano Business Center, a four-building, 624,531-square-foot industrial complex in Broward County’s Pompano Beach. Clarion purchased the asset on behalf of a commingled fund advised by the firm for $77.3 million. The Class A industrial park is located near the Florida Turnpike and I-95. The project features clear heights ranging from 24 to 28 feet, parking and T5 lighting. Pompano Business Center was 95 percent leased at the time of sale.

July 13, 2016

Maryland Office Southeast

Columbia Property Trust Sells Office Asset in Metro D.C. to SunCap for $48M

by John Nelson July 13, 2016

GAITHERSBURG, MD. — Columbia Property Trust Inc. has sold an office property at 800 N. Frederick Ave. in Gaithersburg for $48 million. The buyer, SunCap Property Group, plans to redevelop the asset as a distribution center. The 40-acre property includes a 393,000-square-foot office building that formerly housed an IBM data center. Columbia Property Trust plans to use the proceeds from the transaction to reduce borrowings on its revolving credit facility.

July 13, 2016

Restaurant Retail Southeast Virginia

JBG Signs Seven Tenants to Join Stonebridge at Potomac Town Center in Metro D.C.

by John Nelson July 13, 2016

WOODBRIDGE, VA. — The JBG Cos. has signed seven new retailers and restaurants at Stonebridge at Potomac Town Center, a 482,631-square-foot retail center located in the Washington, D.C., suburb of Woodbridge. The new tenants include a 4,026–square-foot Brew Republic Bierwerks; a 2,256-square-foot Duck Donuts; a 2,693-square-foot BurgerFI; a 1,255-square-foot Sushi Jin Next Door; a 5,561-square-foot Lane Bryant; a 3,201-square-foot Massage Envy; and a 3,354-square-foot Sleep Number. BurgerFI, Sushi Jin Next Door, Lane Bryant and Massage Envy are already open. Brew Republic Bierwerks, Duck Donuts and Sleep Number will open later this summer. Stonebridge at Potomac Town Center is now 93 percent leased to tenants such as Apple, REI, DSW Shoe Warehouse, Orvis, Uncle Julio’s and South Moon Under.

July 13, 2016

Industrial New York Northeast

HelmsleySpear Arranges $10.5M Sale of Warehouse Property in Queens

by Amy Works July 13, 2016

NEW YORK CITY — HelmsleySpear LLC has arranged the sale of a commercial building located at 19-40 Flushing Ave. in the Ridgewood section of Queens. Farmville, Va.-based Tri-Boro Shelving acquired the 25,234-square-foot warehouse for $10.5 million, or $416.10 per square foot. The warehouse features 17-foot ceilings, eight loading docks and 8,000 square feet of outdoor parking. The buyer plans to renovate the property. Gregg Slotnick of HelmsleySpear represented the undisclosed seller in the transaction.

July 13, 2016

Multifamily New York Northeast

Redwood Realty Negotiates $6.3M Sale of 37-Unit Apartment Property in New York

by Amy Works July 13, 2016

PEARL RIVER, N.Y. — Redwood Realty Advisors has arranged the sale of Courtland Gardens, a garden apartment property located in Pearl River. The 37-unit property sold for $6.3 million, or $171,621 per unit. Kevin and McCrann and Thomas Gorman of Redwood Realty Advisors represented the undisclosed seller in the deal. The name of the buyer was not released.

July 13, 2016

Industrial Texas

TDC Acquires 1.4M SF DHL Supply Chain Property in Fort Worth

by Haisten Willis July 12, 2016

FORT WORTH, TEXAS — Transpacific Development Co. (TDC) has acquired a 1.4 million-square-foot distribution building in Fort Worth developed and occupied by logistics solutions provider DHL Supply Chain. Completed in June, the property is located at 5600 Mark IV Parkway, near the intersection of I-35 and I-820. John Huguenard and Sean Devaney of JLL represented DHL Supply Chain in the transaction. 5600 Mark IV Parkway was built with 36-foot clear heights, 154 dock doors, parking for 200 cars and 350 trailers and an ESFR fire suppression system. The building’s infrastructure was reinforced to withstand 120-mile-per-hour winds. DHL is preparing to break ground on a speculative basis on an adjacent building, totaling 712,500 square feet, with similar specifications. That building is scheduled for completion next spring.

July 12, 2016

Office Texas

Aprima Medical Software Relocates Headquarters to Richardson

by Haisten Willis July 12, 2016

RICHARDSON, TEXAS — Aprima Medical Software Inc., a provider of electronic health records, practice management and revenue cycle management solutions for medical practices, has signed a lease for its 55,000-square-foot corporate headquarters at 1010 E. Arapaho Road in Richardson. The facility will house 250 Aprima employees, who will be relocating from other north Texas facilities, including the company’s current headquarters in Carrollton. Aprima expects to occupy the new facility beginning in August. The new headquarters will house Aprima’s corporate administrative functions, product development, customer support, training and project management and revenue cycle management operations. John Roper of CBRE represented the tenant in lease negotiations. Momentum Commercial Realty’s Roy Greenberg and Bryan Lurie handled negotiations on behalf of the property owner. Dallas-based Momentum Commercial Realty recently acquired the three-story office building known as 1010 Arapaho, in which Aprima’s new headquarters will be based.

July 12, 2016

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