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Net lease news – page 203
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Representative imageJP Morgan, Freehill Capital Partners Form Industrial Acquisition Joint VentureJ.P. Morgan continues to push its chips into industrial real estate. Commercial Observer can first report that J.P.
Partnership Breaks Ground on 78-Unit Multifamily Project in Long Branch, New JerseyLONG BRANCH, N.J. — A partnership between two local companies, Downeaster Development and TANTUM Real Estate, has broken ground on The Elbie, a 78-unit multifamily project in the Northern New Jersey community of Long Branch.
Representative imageJLL Arranges $19.5M Loan for Refinancing of Industrial Building in Westchester CountyCROTON-ON-HUDSON, N.Y. — JLL has arranged a $19.5 million loan for the refinancing of a 118,991-square-foot industrial building in Croton-on-Hudson, located north of New York City in Westchester County.
Representative imageMarcus & Millichap Brokers $7.1M Sale of Two Long Island Office BuildingsROSLYN, N.Y. — Marcus & Millichap has brokered the $7.1 million sale of two office buildings totaling 28,714 square feet in the Long Island community of Roslyn. The buildings sit on a 1.5-acre site at 200-220 S. Service Road.
Representative imageHydrogen Fitness Signs 17,000 SF Retail Lease in Midtown ManhattanNEW YORK CITY — Hydrogen Fitness has signed a 15-year, 17,000-square-foot retail lease in the Murray Hill submarket of Midtown Manhattan. The space spans the ground floor, lower level and mezzanine levels of the building at 145 E. 32nd St. Thomas Capuano of Okada & Co.
Partnership Breaks Ground on 809,141 SF Industrial Park in DurhamDURHAM, N.C. — A partnership between Hines and an Ares Real Estate fund has begun construction on Parkside Commerce Center, a four-building industrial park spanning 809,141 square feet in Durham.
Sonnenblick-Eichner Arranges $115M Refinancing for La Bahia Hotel & Spa in Santa CruzSANTA CRUZ, CALIF. — Sonnenblick-Eichner Co., on behalf of Ensemble Investments, has arranged $115 million in first mortgage debt to refinance La Bahia Hotel & Spa, a newly opened waterfront hotel in Santa Cruz.
Investor Offloads Dunwoody Office Park for $27MGrubb Properties sold the 284,000 square foot Park at Perimeter Center East to Network Realty Partners for $27.15 million. The Atlanta Business Chronicle reports Grubb is moving its Atlanta office from that Dunwoody property to an office it owns at 2400 Lake Park Drive in Smyrna.
Opus Development Receives $67M Refinancing for Multifamily Community in DenverDENVER — Opus Development Co., along with an Ares Real Estate fund, has received a $67 million, three-year construction take-out loan from a national balance sheet lender for the refinancing of Kalaco, a 280-unit apartment property in Denver.
Newmark Arranges $53M Refinancing for American Hotel Atlanta DowntownATLANTA — Newmark has arranged a $53 million loan for the refinancing of The American Hotel Atlanta Downtown, a 315-room hotel located at 160 Ted Turner Drive NW in downtown Atlanta.
Muss Development, Amesbury Acquire 270-Unit Apartment Community in Lake Charles, LouisianaLAKE CHARLES, LA. — Muss Development LLC and Amesbury Cos. have acquired Erdace Apartments, a 270-unit multifamily community in downtown Lake Charles. The seller and sales price were not disclosed.
Shea Properties Completes $37.1M Sale of Shops at Highland Walk in Highlands Ranch, ColoradoHIGHLANDS RANCH, COLO. — Shea Properties has completed the $37.1 million sale of Shops at Highland Walk, a 94,795-square-foot retail center in Highlands Ranch, located south of Denver. Regency Centers acquired the asset.
Representative imageMarcus & Millichap Brokers $7.3M Sale of Retail Building in San Diego CountyESCONDIDO, CALIF. — Marcus & Millichap has brokered the $7.3 million sale of a retail building located at 1580 W. Valley Parkway in Escondido.
National Homebuilder M/I Homes Hires Prophetic for Land EvaluationM/I Homes, a leading national homebuilder, has engaged Prophetic, a technology provider focused on land acquisition tools, to help speed its land evaluation and acquisition process.
CBRE Arranges Sale of Newly Renovated 113K-SF Indiana Industrial PropertyCBRE has arranged the sale of a 112,862-square-foot industrial property located at 3701 S. Main Street in Elkhart, Indiana. Vault Equity Partners purchased the property from Industrial Commercial Properties (ICP).
SVN | Chicago Facilitates Sale of Two-Story Industrial PropertySVN | Chicago Commercial facilitated the sale of an 18,000-square-foot industrial property at 3450 N. Kostner Avenue in Chicago for $1.43 million. Industrial Advisor Tim Newberg represented the seller in the transaction.
Michael Puline: Principal’s Mindset is Essential to Modern BrokerageRetail real estate veteran Michael Puline has joined Marcus & Millichap to guide the strategic growth of Marcus & Millichap’s and Institutional Property Advisors’ (IPA) retail divisions and lead the company’s retail investment sales professionals, helping to ensure seamless…
Kalibrate’s CEO on Blending Services, Software in Location Analytics (VIDEO)When Kalibrate CEO Charles Wetzel got his start in the location analytics business in the 2000s, it was almost exclusively a services business. More recently, software has come into the picture.
Krusinski Construction Starts Work on 32K-SF Addition to Aurora Distribution HubKrusinski Construction Company (KCC) has begun the construction of a 32,000-square-foot addition to the Loaves & Fishes Community Services Food Distribution Hub at 580 Exchange Court in Aurora, Illinois. With this addition, the building will expand to 62,000 square feet.
The Malin Establishes NoHo Presence with GFP Real EstateThe Malin, a hospitality-driven workspace operator, has signed a long-term lease for the entire fifth floor at GFP Real Estate’s 10 Astor Place in NoHo. The tenant will occupy approximately 19,400 square feet at the historic office property under a 15-year lease.