City housing agencies have chosen a development team to build approximately 195 deeply affordable homes for seniors in the Morrisania neighborhood of the Bronx. The team of NRP Group, Selfhelp Realty Group and Foxy Management was selected for the Sol on Park development. The Sol on Park development will give rise to a 15-story mixed-use …
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Abe Cohen’s Conway Capital has closed on the purchase of a six-unit multifamily building in Brooklyn’s Greenpoint neighborhood for $3.026 million. The three-story, 4,500-square-foot building, at 60 Diamond St., was built in 1931. It sold for a stabilized 5.61% cap rate, at $500,000 per unit. Urban Standard Capital (USC) delivered a $2.45-million acquisition loan to …
M&T Realty Capital Corporation has arranged financing of $21.5 million secured by Lumber House, a 46-unit, luxury mid-rise apartment community in Jersey City. After building completion in September of 2021, Lumber House was fully leased in under 60 days. Lumber House offers an “outstanding amenity package and is located adjacent to Riverview Park within walking distance …
It’s no secret that supply chain challenges have been added over the past couple of years to the speedbumps facing developers. Nowhere are these challenges experienced more acutely than in industrial real estate, where increased demand for new product runs up against issues in obtaining materials to build new warehouses and distribution centers and deliver …
The 80 West Self Storage is a 76,814 square foot facility. Investment specialists Danny Cunningham and Brandon Karr of Marcus & Millichap found both the buyer and the seller. The seller was a private investor and the buyer was a second-time self storage facility buyer in Longview. The seller rejected a number of offers until …
Gilbert Arizona, once known as “The Hay Shipping Capital of the World” has developed into a world beater when it comes to office development. The latest US Census revealed that the town of 250,000, which is about fifteen miles southeast of Phoenix, had the most newly created office space, 1.5 million square feet. At the …
Coldwater Plaza, an 80,600 square foot retail center, sold for $174 a square foot. The property was sold by its original developer, WM Grace, who built it in 2005. Newmark represented the seller. The buyer was Kwon-State Ave, LLC. The development sits on a 12.58 acre lot and is home to a Sam’s Club and …
The street is famous for many of the wrong reasons. Rowdy partying and some recent shootings have many residents clamoring for upgrading the area. At a recent meeting of the Austin Historic Landmark Commission, Stream representatives shared a few ideas with the group. Stream owns as many as 30 buildings on the street and hopes …
The eight-story, 162,919 square foot office tower was sold by Accesso Partners. Interra Capital Group was the buyer. JLL represented the seller and found the buyer. At 16225 Park Ten Place, the building is within Houston’s Park Ten office complex, a 550-acre, master planned, mixed-use development. The surrounding area is home to a number of …
CBRE found a tenant for a 169,011 square foot El Paso speculative industrial building, and the undisclosed logistics company cannot move in until July. “El Paso industrial space is in high demand and space under construction—particularly speculative space—was at an all-time high at the end of the first quarter”, said CBRE’s William Caparis. Once complete …
It’s still the oldest operating hotel in Austin. Built in 1886, The famous Driskill Hotel was sold to Woodbine Development. Hyatt will still run it. It’s the third Texas property sold by the popular hotel chain. Besides The Driskill, Hyatt has unloaded the Lost Pines in Cedar Creek and the Grand Hyatt San Antonio River …
Four months into 2022, the overall vacancy is at 14.2%, up slightly from last year. But it was net absorption where the biggest increase occurred. An NAI Partners market report showed the Austin office market recorded 3.1 million square feet of leasing activity, comprised of both new leases and renewals, while net absorption is at …
(Updated with additional information) Cushman & Wakefield has acquired Cresa Partners of Los Angeles, Inc. Representing occupiers exclusively, Cresa’s operations span offices in West Los Angeles, Woodland Hills and Westlake Village. “This is a significant milestone for Cushman & Wakefield, and we are excited to add the depth of occupier services talent this exceptional group from …
Southern California-based C.W. Driver Companies has announced the completion of the $66.5 million Innovation and Instruction Building at California State University, Dominguez Hills in Carson, CA. The four-story, 108,000-square-foot structure is the new home of the College of Business Administration and Public Policy. The building features a 250-seat auditorium for teaching and symposia, a 120-seat …
Bella Terra has announced that six new retail outlets will soon be opening their doors at the modern lifestyle center located at 7777 Edinger Ave. in Huntington Beach, CA. DJM, which owns and manages Bella Terra, says the new additions will continue to bring locals and visitors together to experience all that the property has …
The owner of four Inland Empire car wash properties has awarded Progressive Real Estate Partners the exclusive listing to sell or lease the portfolio. The non-operating facilities had been previously leased to a private party. The car washes are located in: Apple Valley, CA – Built in 2008 and previously operated as Apple Valley Auto …
JLL Capital Markets has announced it has closed the $203 million construction financing for Vive Luxe, a Class A, 442-unit multi-housing complex in San Diego. The JLL Debt Advisory team of Aldon Cole, Tim Wright, Bharat Madan and Mariah Feghali represented the borrower, Sunroad Enterprises, to secure the five-year bridge loan. Completed just recently, Vive …
Mill District, the 9.6-acre master-planned community in downtown Healdsburg, CA on the former Nu Forest Product lumber mill site is to begin immediately. Replay Destinations is the developer and Weitz Company has been selected as the general contractor in the first phase of the $500 million project. Designed by Olson Kundig, the multi-housing complex will …
Barings and Schnitzer West have sold Madison Centre in downtown Seattle to Boston Properties (BXP). The REIT paid approximately $730 million for the 37-story office tower, its second acquisition in Seattle. Calling Madison Centre, completed in 2017, “one of the highest quality properties in downtown Seattle,” BXP VP Kelly Lovshin said, “Madison Centre is desirable …
California-based BKM Capital Partners has acquired a pair of multi-tenant, light industrial properties in Portland, OR for $18.5 million. The two-asset portfolio totals nearly 100,000 square feet across three buildings and is BKM’s fourth purchase in the Portland market. BKM’s CEO Brian Malliet said in a news release, “Portland is a key industrial market and …
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