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Net lease news – page 341
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Citi, Access Point Provide $286M for Acquisition, Repositioning of 38 U.S. HotelsSunday PropTech has secured $286 million in financing to support the acquisition and repositioning of a 38-hotel U.S. hospitality portfolio of more than 4,000 rooms, Commercial Observer can first report.
Developer Planning $60M Arlington Mixed-Use VentureWolverine Interests is hoping to package apartments, retail and office space into a 3.41-acre spot near the University of Texas at Arlington.
Representative imageArwa Yemeni Coffee Opening First NYC Location in WilliamsburgA Yemeni-style coffeehouse chain is establishing its first New York City presence in Williamsburg, Brooklyn.
Seagis Picks Up 200K-SF Medley WarehouseSeagis has acquired a 200,175-square-foot manufacturing facility near Medley for $48.8 million. The seller was Intradeco Apparel, which used the building as its headquarters and warehouse.
Ole Miss, Greystar Join Forces on $101M Residence HallGreystar and the University of Mississippi are teaming up on a $101 million student housing project in Oxford. The project was funded via tax-exempt bonds. Provident Resources Group serves as the project owner and bond borrower, with Raymond James as the bond underwriter.
IPA Negotiates Sale of 216-Unit Apartment Complex in Temple, TexasTEMPLE, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Summit Ridge, a 216-unit apartment complex in the Central Texas city of Temple.
Pharma Giant Building $2 Billion Atlanta-Area FacilityGlobal biopharmaceutical giant UCB, Inc. is planning a $2 billion investment in Georgia to establish its first U.S. pharmaceutical biologics manufacturing facility. Based in Belgium, UCB’s North American headquarters are located in Smyrna.
Representative imageC&S Electric Services Signs 18,302 SF Lease at Industrial Flex Property in PlanoPLANO, TEXAS— C&S Electric Services, a Michigan-based company, has signed an 18,302-square-foot lease in Plano. The space is located within the 82,600-square-foot industrial flex property at 2600 Technology Drive.
Research Triangle Property Sells for $58.3MAn affiliate of TPG Real Estate Partners sold The Press, a 250,000 square foot industrial complex in Cary, NC, for $58.3 million. Vigilant Real Estate Holdings was the buyer. Commercial Search reports the buyer also inked a $38.5 million acquisition loan from M&T Bank.
Lendlease Welcomes First Residents To 834-Unit Apartment Community in BrooklynNEW YORK CITY — Lendlease has welcomed the first residents to The Riverie, an 834-unit apartment community in the Greenpoint neighborhood of Brooklyn.
Representative imageCronheim Arranges $13.2M Loan for Refinancing of Northern New Jersey HotelsWOODBRIDGE, N.J. — The hotel division of local financial intermediary Cronheim Mortgage has arranged a $13.2 million loan for the refinancing of two hotels in the Northern New Jersey community of Woodbridge.
Representative imageAscentris-Led Partnership Sells Two South Florida Office Buildings, Launches Multifamily Conversion ProjectDORAL, FLA. — Ascentris, in partnership with Highline Real Estate Capital and Square2 Capital, has completed a multi-phase repositioning of Westside Plaza, a three-building, 382,637-square-foot office complex in Doral, a western suburb of Miami.
Hanover, Northwestern Mutual Deliver 509,000 SF Industrial Park in Frederick, MarylandFREDERICK, MD. — Hanover Co. and its institutional partner Northwestern Mutual have completed construction of Frederick Airport Park, a 509,000-square-foot industrial development located in Frederick, about 44 miles northwest of Washington, D.C.
DCHFA Provides Financing for 178-Unit Affordable Housing Redevelopment in D.C.WASHINGTON, D.C. — The District of Columbia Housing Finance Agency (DCHFA) has provided financing to rehabilitate Henson Ridge II, a 178-unit affordable housing community located in the Douglass neighborhood of Ward 8 in Washington, D.C.
Marcus & Millichap Brokers Sale of Retail Property in Montgomery Leased to ValvolineMONTGOMERY, ALA. — Marcus & Millichap’s Taylor McMinn Retail Group has brokered the sale of a retail property in Montgomery.
Representative imageSitex Group Buys 26,000 SF Warehouse in Monroe Township, New JerseyMONROE TOWNSHIP, N.J. — New Jersey-based private equity real estate firm Sitex Group has purchased a 26,000-square-foot warehouse in Monroe Township, located outside of Trenton in Central New Jersey.
Representative imageHero’s Journey to Open 19,500 SF Flagship Gym in Midtown ManhattanNEW YORK CITY — Hero’s Journey, a technology-driven fitness concept, will open a 19,500-square-foot flagship gym in Midtown Manhattan. The space spans 1,500 square feet on the ground floor and 18,000 square feet on the lower level of the retail condo at 225 Fifth Ave.
Ashford Hospitality Trust Sells La Posada de Santa Fe Historic Resort in New MexicoSANTA FE, N.M. — Ashford Hospitality Trust has competed the disposition of La Posada de Santa Fe, a Tribute Portfolio Resort & Spa, to Abo Sada LLC for an undisclosed price. Kami Burnette and Brian Embree of Hunter Advisors represented both parties in the transaction.
SecureSpace Self Storage Opens 625-Unit Facility in Tukwila, WashingtonTUKWILA, WASH. — SecureSpace Self Storage has opened its newest facility located at 5950 Southcenter Blvd. in Tukwila. Formerly known as Tukwila Self Storage, the five-story, heated facility offers 53,185 square feet of storage space across 625 units in a variety of sizes.
Representative imageBWE Secures $28.8M Refinancing for Multifamily Community in Tucson, ArizonaTUCSON, ARIZ. — BWE has arranged $28.8 million to refinance Cabana Bridges, a garden-style apartment property in Tucson.