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Net lease news – page 221
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Strada Pays $103M for Samsara HQ in San Francisco’s Showplace SquareStrada Investment Group closed on a deal to purchase wireless networking company Samsara’s headquarters in San Francisco’s Showplace Square.
RAMROCK Snags Financing for Preston Center Mixed-Use ProjectRAMROCK Real Estate, in partnership with Lincoln Property Company and Willow Bridge Property Company, secured financing for the 8300 Douglas project at Preston Center, a mixed-use development that will include an elevated office, residential and retail environments.
Moody’s Sees Limited Impact on Five-Year Freeze on NYC Apartment RentsJust 6% of the 481 CMBS single-property multifamily loans in New York City would see credit metrics deteriorate to the point of default risk specifically due to a proposed five-year freeze on rent increases, Moody’s reported. However, the effect would vary across borrowers.
Nuveen Offloads 400K-SF Dallas WarehouseNuveen Real Estate sold a 403,200-square-foot warehouse in Dallas to BakerTriangle. Frost Bank issued a $27.3 million acquisition loan.
ESRT Buys Ground Beneath Two Midtown Properties for $114MEmpire State Realty Trust (ESRT) has closed on a pair of deals to buy the land beneath two of its Midtown properties. The real estate investment trust (REIT) announced Tuesday that it paid a total of $113.6 million for the dirt beneath 111 West 33rd Street and 1400 Broadway.
Scottsdale Developer Inks $141M Construction Loan for Luxury ApartmentsThe Hampton Group has secured $141 million in construction financing for the development of IKONIC Scottsdale, a 14-story, 245-unit luxury multifamily rental tower in Scottsdale, Ariz. Completion is slated for 2028.
Eastern Bank Provides $39M Bridge Loan for Worcester, Mass., 55-Plus CommunityUnited Group has secured $39 million in bridge financing for The Arbella at Bramble Hill, a 123-unit active adult community in Worcester, Mass., that finished construction earlier this year.
Newmark Brokers Sale of 332,309 SF Shopping Center in Newport, KentuckyNEWPORT, KY. — Newmark has brokered the sale of Newport Pavilion, a 332,309-square-foot shopping center in Newport, a Kentucky city situated across the Ohio River from downtown Cincinnati.
JLL Arranges 691,667 SF Industrial Lease in Adairsville, GeorgiaADAIRSVILLE, GA. — JLL has arranged a 691,667-square-foot, full-building lease at International Commerce Center, an industrial facility located northwest of Atlanta in Adairsville. The tenant is Pactra USA Inc., a third-party logistics firm and the U.S.
Red Oak Capital Provides $7.7M Acquisition Loan for Multifamily Community in MemphisMEMPHIS, TENN. — Red Oak Capital Holdings has provided a $7.7 million loan for the acquisition and repositioning of Valley Forge Apartments, a 229-unit multifamily community located at 176 Hillview Ave. in Memphis.
Berkadia Secures $38M C-PACE Financing for DC Medical FacilityBerkadia secured $37.6 million in C-PACE financing for 1201 Sycamore, a trophy outpatient medical and community services facility located in the Congress Heights neighborhood of Southeast Washington, D.C.
Ginkgo Acquires 483-Unit Greensboro Rental PropertyGinkgo Residential paid nearly $39 million for Edgewater Village, a Greensboro apartment complex at 5509 Weslo Willow Drive, for $38.75 million in May. The property was built in 1974, has three stories, 483 units and offers leases ranging from 4 to 18 months.
Representative imageNestle USA Signs 524,252 SF Industrial Lease Renewal in North Fort WorthFORT WORTH, TEXAS — Nestle USA has signed a 524,252-square-foot industrial lease renewal in North Fort Worth. The U.S. affiliate of the Swiss foodmaker will continue its operations at its namesake distribution facility at 13600 Independence Parkway for an unspecified term.
Representative imageMarcus & Millichap Brokers Sale of 119-Unit Multifamily Portfolio in Kerrville, TexasKERRVILLE, TEXAS — Marcus & Millichap has brokered the sale of a portfolio of three multifamily properties totaling 119 units in Kerrville, about 65 miles west of San Antonio.
Representative imageLanCarte Commercial Arranges Sale of 47,000 SF Industrial Portfolio in Fort WorthFORT WORTH, TEXAS — Locally based brokerage firm LanCarte Commercial has arranged the sale of a 47,000-square-foot industrial portfolio in Fort Worth. The portfolio comprises two buildings that are located at 4608 Fairlane Ave. and 4700 S. Edgewood Terrace.
Jax-Area Auto Group Pursuing $75M DealershipHanania Automotive Group is planning the construction of a $75 million, 180,000-square-foot facility off the State Road 207 and Interstate 95 interchange in St.Johns County. It still requires final approval from the county.
Representative imageJoint Venture Refinances 615,305 SF Office, Life Sciences Campus in Bedford, MassachusettsBEDFORD, MASS. — A joint venture between Anchor Line Partners and Alloy Properties has refinanced The Core at Crosby, a 615,305-square-foot office and life sciences campus in Bedford, a northwestern suburb of Boston.
CBRE Brokers Sale of 450,330 SF Industrial building in Monroe Township, New JerseyMONROE TOWNSHIP, N.J. — CBRE has brokered the sale of Eastpoint at Exit 8A, a 450,330-square-foot industrial building in Monroe Township, located in Central New Jersey.
Ulta Beauty Inks 26K-SF Deal at Jeff Sutton’s 1551 Broadway in Times SquareSkin care and cosmetics retailer Ulta Beauty has signed a deal to take over the entirety of Jeff Sutton’s Times Square retail building at 1551 Broadway.
JLL Arranges $46M Loan for Refinancing of Northeast Philadelphia Industrial FacilityPHILADELPHIA — JLL has arranged a $46 million loan for the refinancing of a 287,218-square-foot industrial facility in northeast Philadelphia.