Cushman & Wakefield advised Snowball Developments in obtaining acquisition financing of $23,700,000 for 301 Governors Hwy., a 507,733-square-foot industrial property in South Windsor, CT, within the Hartford metro area. The loan was provided by Prime Finance.

A Cushman & Wakefield Equity, Debt & Structured Finance team of John Alascio, Jeff Dybas, Alex Lapidus and Meredith Donovan represented the borrower. The property, previously owned and fully occupied by Macy’s, has been leased back to Macy’s by Snowball Developments in a sale-leaseback.

“This transaction underscores the strategic value of 301 Governors Highway within the Eastern Hartford submarket,” said Dybas. “With its single-tenant absolute net lease and sale-leaseback rent, the property presents significant upside potential. The extensive 38-acre site and ample trailer parking further distinguish it in a supply-constrained market.”

According to Cushman & Wakefield, the Eastern Hartford submarket boasts a low vacancy rate of 1.4%, with no speculative developments on the drawing board.

Vice President Christian Vaughan of Northmarq’s National Healthcare Group recently brokered the $13.5 million sale leaseback of two outpatient primary care properties in Noblesville, Indiana. The seller was Riverview Hospital, and the buyer was Four Corners Property Trust.

The portfolio totals 32,744 square feet and includes Riverview Health’s Noble Creek (205 Noble Creek Drive) and Westfield (865 Westfield Road) locations. The tenant operates on long-term, triple net leases, and the transaction was priced at a 7.3% cap rate.

“This was a great seller and buyer match to transact on two essential outpatient facilities, via a long-term sale-leaseback agreement,” said Vaughan. “Strategically located near the hospital, the sites are essential to the tenant, delivering critical care to the local community in which demand for services is rapidly growing. The long-term favorable outlook and critical nature of these medical outpatient buildings present a strong investment for the buyer.”

Pasadena-based ExchangeRight acquired 13 net-leased properties for an undisclosed sum as part of a sale-leaseback transaction with Tractor Supply. The properties collectively span more than 425,000 square feet across Arizona, Florida, Georgia, Indiana, Maryland, Ohio, Pennsylvania, South Carolina and Texas. ExchangeRight has now expanded its portfolio of assets net leased to Tractor Supply to more than 100 properties.

“Tractor Supply provides essential goods and has a strong BBB investment-grade credit rating from S&P, which are the kinds of stable qualities we look for in all tenants of our diversified net-leased offerings,” said David Fisher, a managing partner at ExchangeRight. “Their consistent performance helps us meet the needs of our investors, and we are grateful to have them as one of the top tenants across our portfolio.” 

 JRW Realty advised ExchangeRight on the transaction. Berkeley Capital Advisors represented the seller.

“Our client has maintained a relationship with Tractor Supply for more than a decade,” said Melinda Marston, president of JRW Realty.

Cushman & Wakefield represented OrthoNebraska in the sale-leaseback of its specialty orthopedic hospital at 2808 S. 143rd Plaza in Omaha for an undisclosed sum. The firm’s Healthcare Capital Markets group, comprised of Gino Lollio, Travis Ives, Sushil Puria, and Tyler Morss, along with TJ Twit of The Lund Co., an alliance of Cushman & Wakefield, represented OrthoNebraska in the transaction with buyer Montecito Medical.  

Built in 2004 and expanded in 2020, the 70,000-square-foot acute-care hospital is fully occupied by OrthoNebraska. It is a two-story facility dedicated to musculoskeletal care with 24 in-patient beds, 12 operating rooms and several treatment rooms. The property also includes 63 underground, temperature-controlled garage parking stalls and 220 surface parking stalls.  

OrthoNebraska is the largest orthopedics practice in Nebraska, with 35 surgeons who treat patients across the continuum of care for orthopedic procedures.  

Faropoint, a Hoboken, NJ-based real estate investment firm focused on last-mile industrial properties, has secured a $150 million acquisition line with a leading U.S. financial institution for its Industrial Sale-Leaseback (ISLB) Fund. This marks the second loan facility provided to Faropoint by this institution, following a previous $130-million facility for Fund II.

The ISLB Fund was launched earlier this year with a $300-million target. It aims to capitalize on the debt gap created as local and regional U.S. banks reduce commercial real estate exposure.

“This $150-million acquisition line from our financial partner is a testament to the strength of our ISLB strategy and our ability to identify and execute on attractive opportunities in the last-mile industrial sector,” said CFO Idan Tzur. “We’re pleased to expand our relationship with a trusted institution, whose expertise and financial strength align perfectly with our growth objectives and empower us to navigate today’s challenging credit environment with confidence.”