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Net lease news – page 109
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CBL, Greystar Adding Mixed-Use Project to Franklin MallCBL Properties and Greystar broke ground on a mixed-use development at CoolSprings Galleria in Franklin, Tennessee. The project will bring 361 residences and approximately 15,000 square feet of new retail and restaurants to the CoolSprings Galleria campus.
Marx Realty to Reposition 430 Park Avenue With $68 Million Hospitality InitiativeWhen you walk into a building developed by Marx Realty, you might find yourself curious if you accidentally skipped work and entered a luxury hotel — and that’s exactly what Marx wants.
PCCP, Distribution Realty Purchase Industrial Facility in Spring Hill, Tennessee for $51MSPRING HILL, TENN. — A joint venture between PCCP and Distribution Realty Group has acquired a single-tenant industrial facility located at 4637 Port Royal Road in Spring Hill, about 38 miles south of Nashville via I-65.
IPA Arranges $131.5M in Construction Financing for Student Housing Project in Upper ManhattanNEW YORK CITY — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged $131.5 million in construction financing for a student housing development in the Washington Heights neighborhood of Upper Manhattan. The 28-story building at 465 W. 165th St.
Representative imageJLL Brokers Sale of 686-Unit Self-Storage Facility in Newbury, MassachusettsNEWBURY, MASS. — JLL has brokered the sale of a 686-unit self-storage facility in Newbury, located northeast of Boston. Newbury Self Storage comprises 12 single-story buildings that were built in phases between 2016 to 2023 on a 49.3-acre site.
Representative imageChelsea Piers Fitness to Open 76,000 SF Gym in Lower ManhattanNEW YORK CITY — Chelsea Piers Fitness will open a 76,000-square-foot gym in Lower Manhattan.
Representative imageRatio Therapeutics Signs 17,000 SF Office Lease Expansion in Boston’s Seaport DistrictBOSTON — Ratio Therapeutics has signed a 17,000-square-foot office lease expansion in Boston’s Seaport District.
Marcus & Millichap Brokers Sale of Six-Property Self-Storage Portfolio in OregonPORTLAND, ORE. — Marcus & Millichap has brokered the sale of a six-property, 537,962-square-foot self-storage portfolio in Oregon. The properties are located in Ashland, Bend, Prineville, Redmond, Hood River and Hillsboro.
Olson Co. Buys Office Property in Monterey Park, California for $24.8M, Plans Residential ConversionMONTEREY PARK, CALIF. — The Olson Co. has acquired a 7.9-acre office campus in Monterey Park, located east of downtown Los Angeles, for $24.8 million. The buyer plans to redevelop the two-building, 120,191-square-foot property into a residential community.
CapRock Partners Acquires 244,847 SF Industrial Property in Surprise, ArizonaSURPRISE, ARIZ. — CapRock Partners has purchased Summit at Surprise, a newly completed, 244,847-square-foot warehouse located northwest of Phoenix. Summit Surprise features two freestanding Class A buildings on two parcels totaling 16.9 acres.
CRE Leaders Stress Importance Of Adaptability As DFW Continues To GrowExplore adaptability tactics as DFW becomes a top CRE market, with rising female leadership.
HUD Withholds Voucher Funding, Pushing Landlords, Tenants To The BrinkEmergency housing vouchers face funding cuts, leaving tenants and landlords uncertain.
Prosper and Versluys Close $50M Land Deal for $650M Miami Condo TowerProsper Group and Versluys Group have paid $50 million for a development site in Miami’s Brickell district, where they plan to build a $650 million condo tower, the joint venture announced.
Hawkins Way, Varde Acquire East Village Student HousingHawkins Way Capital and joint venture partner Varde Partners completed the acquisition of 81 E. 3rd St., a student housing property located in Manhattan’s East Village.
Former Blue Shield of CA Offices Trade for Residential ConversionNAI Capital Commercial executive managing director Ryan Campbell, SIOR, represented The Olson Company in its $24,850,000 acquisition of a 7.9-acre office campus at 601 Potrero Grande Dr. and 2100 Saturn St. in Monterey Park.
JAMS Relocating New York Offices to 3 Times SquareRudin has secured an agreement with JAMS, a provider of alternative dispute resolution services, to relocate its New York Resolution Center to 3 Times Square. The tenant will occupy 55,335 square feet across the entirety of the building’s top two floors.
Shopoff Sells Site of Proposed Newport Beach Condo DevelopmentShopoff Realty Investments has sold a proposed 1.06-acre condominium development, Park Palm in Newport Beach, to Shea Homes for an undisclosed sum. The property is part of Shopoff’s master plan community, Uptown Newport Village, and is entitled for 23 townhomes.
JLL Lists Staten Island Waterfront Development for $45MJLL Capital Markets has been retained by Traingle Equities as sales advisor for Lighthouse Point, a newly completed, transit-oriented, Class A multifamily waterfront development located at 5 Bay St. in the St. George neighborhood of Staten Island. The asking price is $45 million.
Ardent, Ironwood Open Self-Storage on Former Brownfield in WoonsocketThe Ardent Companies and Ironwood Development Partners announced the opening of a Class-A self-storage facility in Woonsocket, RI. Located at 153 Hamlet Ave., the three-story, 80,000-square-foot property features 913 climate-controlled units.
Lightstone Capital Originates Senior Loans for Two San Diego Multifamily PropertiesLightstone Capital, Lightstone’s real estate debt platform, recently closed three originations totaling $70 million across California and Texas.