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Net lease news – page 231
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20-Acre Austin Infill Site Heading to AuctionOne of the last large-scale redevelopment sites in Austin’s East Riverside Corridor is set to go to auction on June 24, with a starting bid of $9.5 million.
Goldman Sachs Picks Up 828K-SF Katy WarehouseGoldman Sachs picked up Grand Central West-Phase I, a newly constructed 838,446-square-foot Class A industrial facility located at 22206 Beckendorff Rd. in Katy, Texas. Pinpoint Commercial and Senterra were the sellers.
Dalfen Offloads 1M-SF FW Industrial PropertyCabot Properties acquired The Mark IV, a three-building, 1,025,500-square-foot, Class A industrial portfolio in Fort Worth, Texas. Dalfen Industrial was the seller.
Brixmor Acquires 72K-SF Houston Retail CenterA 72,184-square-foot grocery-anchored shopping center located in the Louetta submarket of northwest Houston has traded hands. The Vintage Marketplace was acquired by Brixmor Property Group. The developer and seller was Read King. Vintage Marketplace is at 10133 Louetta Rd.
PNC Bank Refis West Village Apartment Building With $404M LoanAffiliates of Rockrose Development have sealed $404 million of agency debt to refinance a landmarked luxury apartment building in Manhattan’s West Village neighborhood, Commercial Observer has learned.
South Street Acquires 249-Room Miami-Area HotelSouth Street Partners acquired Solé Miami, located in Sunny Isles Beach, Florida. Mast Capital was the seller. Berkadia’s Christian Charre and Paul Weimer negotiated on behalf of Mast Capital. Mast acquired the hotel for $4.9 million in 2021.
Aventon to Build 270-Unit Port Richey Rental CommunityAventon Companies purchased a 13.58-acre land assemblage in New Port Richey, Fla., to build Aventon Eva, a 270-unit multifamily development. The Little Family sold the property at 8620 Decubellis Road for $5 million.
JP Morgan Chase Snags Naming Rights for Nashville Highrise. JPMorgan Chase & Co. is consolidating its workforce into a new space at Broadwest, a 600,000-square-foot mixed-use project in Nashville.
Wood Partners Sells 278-Unit Alta Rise Multifamily Community in Gilbert, ArizonaGILBERT, ARIZ. — Wood Partners has completed the disposition of Alta Rise, an apartment property in Gilbert. Steve Gebing and Cliff David of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.
Stout Street Hospitality Receives Refinancing for Magnolia Hotel DenverDENVER — Stout Street Hospitality has closed on refinancing for Magnolia Hotel Denver, a Tribute Portfolio Hotel by Marriott, in downtown Denver’s central business district.
Marcus & Millichap Arranges $9.7M Sale-Leasebacks of Two Car Wash Properties in ArizonaTUCSON AND GLENDALE, ARIZ. — Marcus & Millichap has negotiated the sales of two single-tenant Super Star Car Wash properties in Tucson and Glendale for a combined $9.7 million.
Tanger Acquires Town Center at Levis Commons Near Toledo for $60MPERRYSBURG, OHIO — Tanger has acquired The Town Center at Levis Commons, a 300,000-square-foot mixed-use development in Perrysburg, about 10 miles south of Toledo. The purchase price was $60 million.
Partnership to Undertake $25M Renovation of Historic Jewelers Building in ChicagoCHICAGO — Clayco, CRG, The Prime Group Inc. and TP Management Co. (TPM) have unveiled plans to complete a $25 million renovation of the historic Jewelers Building at 35 E. Wacker Drive in Chicago.
Opus Completes Gerdin Fieldhouse at Luther College in Decorah, IowaDECORAH, IOWA — Opus has completed the Gerdin Fieldhouse for Athletics and Wellness at Luther College in Decorah, a city in northeast Iowa. Built in 1963, Luther’s 200,000-square-foot Regents Center had long housed the Luther Norse athletic teams.
Representative imageEncore Brokers $13.8M Sale of Shopping Center in Mishawaka, IndianaMISHAWAKA, IND. — Encore Real Estate Investment Services has brokered the $13.8 million sale of Town & Country Shopping Center, a 382,139-square-foot power center situated on 40 acres in Mishawaka.
RoyOMartin Underway on $115M Manufacturing Expansion Project in Corrigan, TexasCORRIGAN, TEXAS — RoyOMartin, a provider of plywoods, timbers and boards, is underway on $115 million manufacturing expansion project in Corrigan, about 100 miles northeast of Houston.
Representative imagePartnership Opens $24.3M Affordable Housing Complex in South AustinAUSTIN, TEXAS — A partnership between SGI Ventures and the Austin Housing Finance Corp. has opened The Roz, a $24.3 million affordable housing complex on the city’s south side.
Representative imageMarcus & Millichap Brokers Sale of 204-Site RV Park in Midland, TexasMIDLAND, TEXAS — Marcus & Millichap has brokered the sale of a 204-site RV park in the West Texas city of Midland. RV Midland was built on a seven-acre site in 2018 and includes nine acres for future expansion.
Representative imageStream Realty Negotiates Sale of 33,280 SF Industrial Building in West HoustonHOUSTON — Stream Realty Partners has negotiated the sale of a 33,280-square-foot industrial building in West Houston. The building at 1045 Heritage West Drive was completed earlier this year and features 28-foot clear heights.
Representative imageCronheim Arranges $17.6M Loan for Refinancing of Downtown Philadelphia HotelPHILADELPHIA — The hotel affiliate of New Jersey-based financial intermediary Cronheim Mortgage has arranged a $17.6 million loan for the refinancing of the Fairfield Inn & Suites Center City Philadelphia hotel in the city’s downtown area. The number of rooms was not disclosed.