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Net lease news – page 340
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Marcus & Millichap’s Azzi Group Closes Van Nuys SaleThe Azzi Group of Marcus & Millichap has closed the sale of 6121 Woodman Ave., a 45-unit apartment property in Van Nuys. The sale price was $9 million, or $200,000 per unit, at a 5.66% cap rate.
Northgate Closes Bankruptcy Sale at 54% Premium Over Opening BidNorthgate Real Estate Group closed on a seven-building Brooklyn multifamily portfolio for $18.6 million, a 54% premium over the $12.1-million opening bid. The sale was conducted live and online and approved by the U.S. Bankruptcy Court, Eastern District of New York.
Goodwin Law Firm Leaves Downtown L.A. Tower After 20 YearsGlobal law firm Goodwin announced it will move from its Los Angeles office in a 52-story tower downtown to the nearby Arts District about two miles away, which is almost exclusively defined by low-rise or industrial-style developments.
BLT Acquires Carlsbad Site with Potential for Future DevelopmentBLT Enterprises has acquired a 19.4-acre industrial site close to Carlsbad Research Center at 2470 Faraday Ave. in Carlsbad for an undisclosed sum.
Rental Project Breaks Ground on Long Branch’s Lower Broadway CorridorDowneaster Development and TANTUM Real Estate broke ground on The Elbie, a rental community at 305 Broadway in Long Branch, NJ.
Triton Realty Group Closes $3M in Chicago Apartment Buildings DealsTriton Realty Group announced the completion of three sales from the Gary R. Carlson Northwest Chicago Portfolio, the 99-unit, 16-building multifamily collection. The closings at 3543-45 N. New England Ave. in Schorsch Village, 3217-21 N. Kildare Ave.
Skanska Promotes VP to Lead Growth in New EnglandSkanska has promoted Mark Lootz to VP – account manager. Within this new role, Lootz will be responsible for managing and advancing the growth of Skanska New England’s operations across the commercial, education, healthcare and sports and recreation markets.
SparrowHawk, Almanac Realty Investors Acquire St. Louis WarehouseSparrowHawk, through a joint venture partnership with Almanac Realty Investors, has acquired a second Midwest distribution center.
Newmark Lists Home of Contemporary Jewish MuseumNewmark has been selected to market for sale 736 Mission St. in San Francisco, home of The Contemporary Jewish Museum (The CJM). Executive managing director Mark Geisreiter, senior managing director Seth McKinnon and director Josh Peterson are the listing agents.
Skanska’s 25-Story Office Tower in Downtown Bellevue Signs Retail TenantsSkanska’s 25-story office tower in downtown Bellevue, The Eight, has signed two retail tenants.
Representative imageNew York’s Statewide Housing Crisis Needs Statewide SolutionsAt a time when nearly 3 million people across New York state are rent burdened, Gov.
CIM Group Sells 88 University Place for $46M to New Investment PartnershipA partnership between Acram Group and newcomer Bulldog Real Estate Partners purchased 88 University Place in Greenwich Village for $46 million. The seller, 88 Tower LLC, is tied to Los Angeles-based CIM Group.
Clothing Supplier Intradeco Sells Miami-Dade HQ for $49MClothing supplier Intradeco Apparel sold its headquarters warehouse in the outskirts of Miami for $48.8 million, property records show.
Hydrogen Fitness Signs Deal in Murray Hill for First NYC LocationA 24-hour gym is bulking up for cutting season by establishing its first New York City location in Manhattan’s Murray Hill neighborhood.
Broad Street Development Completes Recap, Inks $175M Loan for 80 Broad StreetBroad Street Development, alongside private equity firm PCCP and property investment company One Investment Management, has successfully recapitalized 80 Broad Street and secured a $175 million construction loan for the adaptive conversion of the Lower Manhattan property, also…
MetroNational-Led Team Buys Houston Mixed-Use DevelopmentMetroNational, Radom Capital and Triten Real Estate Partners have acquired the M-K-T mixed-use development in the Heights. The 214,000-square-foot M-K-T development, which blends retail, restaurants and boutique offices, opened in 2021.
Centennial to Demolish Portion of Plano MallCentennial, the real estate company that acquired The Shops at Willow Bend, confirmed that it plans to start demolishing a portion of the mall within a year.
RXR Refis New Jersey Apartments With $90M LoanAn affiliate of Madison Realty Capital has sealed a $90 million loan to refinance a newly built multifamily development in northern New Jersey, Commercial Observer has learned. RXR provided the loan for the 300-unit Clifton & Company apartments in Clifton, N.J.
Terrabank Inks 40K-SF Lease in Coral GablesCommunity bank Terrabank is expanding its headquarters, moving within Coral Gables, Fla., after signing a 40,000-square-foot lease at the One Alhambra Plaza building.
Cameron Brothers Acquires 300-Unit Lewisville Rental CommunityTrinsic Residential Group has sold off the Aura Avant apartment complex in Lewisville. The buyer was Cameron Brothers. Newmark brokered the deal. The property, with 300 units, will be renamed The Winslow as part of the Cameron Collection.