Office

HFF Secures $26.9M in Financing for Property Acquisition, Conversion in Brooklyn

by Amy Works September 12, 2016

NEW YORK CITY — HFF has arranged $26.9 million in acquisition and construction financing for 314 Scholes Street, a three-building industrial complex located in Brooklyn’s Williamsburg neighborhood. HFF arranged the five-year, floating-rate loan through M&T Bank for the borrower, The Hudson Companies. The borrower plans to convert the 97,475-square-foot complex into 83,211 square feet of creative office space and 14,543 square feet of retail space. Designed by S9 Architects, the project is slated for completion in 2018. Christopher Peck and Rory Shepard of HFF secured the financing for the borrower.

September 12, 2016

Kansas Midwest Office Retail

Ferguson Property Group Acquires 50,000 SF Warehouse Building in Wichita for Retail/Office Conversion

by Amy Works September 12, 2016

WICHITA, KAN. — Ferguson Property Group has acquired the former Winfield Wholesale Grocery Building, a warehouse building located at 701 E. Second St. in Wichita’s historic district. SBJ Properties sold the 50,000-square-foot building for an undisclosed price to Memphis, Tenn.-based Ferguson. The buyer has a $20 million renovation planned for the property to convert it into retail and office space. Built in 1910, the property features underground parking. Patrick Ahern of NAI Martens represented the seller, while Mike Marrara of First Commercial represented the buyer in the deal.

September 12, 2016

Loans New York Northeast Office Retail

Cushman & Wakefield Arranges $185M in Financing for 10 Times Square in NYC

by Amy Works September 9, 2016

NEW YORK CITY — Cushman & Wakefield advised L.H. Charney Associates Inc. on a $185 million senior mortgage financing for 10 Times Square, also known at 1441 Broadway, in New York City. The fixed-rate financing was provided by an affiliate of Metropolitan Life Insurance Co. The 36-story building features more than 540,000 square feet of office/showroom and retail space, including 31 floors of fully-leased office/showroom space and 55,000 square feet of ground-floor, concourse and second/mezzanine-level retail space. The building’s newly designed retail space and lobby will be delivered in 2017. Alex Hernandez, Steve Kohn, Chris Moyer and Alex Lapidus of Cushman & Wakefield’s Equity, Debt and Finance team arranged the the financing.

September 9, 2016

Massachusetts Northeast Office

O’Connell Hospitality Group Merges with HREC

by Amy Works September 9, 2016

BOSTON — O’Connell Hospitality Group is merging its Northeast hotel brokerage practice with HREC’s national hotel platform effective Sept. 8. With the merged companies, Jim O’Connell will be principal at HREC Investment Advisors, as well as HREC’s practice leader in the new Boston office. Combined the two firms will offer hotel investors expertise and contacts of approximately 40 dedicated lodging and gaming insiders across the North American hospitality industry.

September 9, 2016

Office Texas

Allison Cook Promoted to Director of Economic Development and Tourism for Farmers Branch

by Haisten Willis September 9, 2016

FARMERS BRANCH, TEXAS — Farmers Branch city manager Charles Cox has promoted Allison Cook to director of economic development and tourism for the city of Farmers Branch. Cook has been an employee of Farmers Branch since 2011, when she started the first city program focused on business retention. She was later promoted to economic development manager. The previous director of economic development and tourism John Land, has been promoted to deputy city manager. Cook previously worked for Catalyst Commercial, a real estate analytics company, and was also the leasing manager for another commercial real estate company focused on retail development in the Dallas/Fort Worth area.

September 9, 2016

Midwest Office Wisconsin

Colliers Brokers Lease, $16.8M Sale of 120,883 SF Office Campus in Wisconsin

by Amy Works September 9, 2016

OAK CREEK, WIS. — Colliers International has arranged the lease and sale of the former headquarters of Caterpillar’s Global Mining division located at 6744 S. Howell Ave. in Oak Creek. Master Lock Co. leased the two-building, 120,883-square-foot office campus under a long-term agreement. Master Lock will relocate from its current Oak Creek location in early 2017 after tenant improvements are completed at the property. Additionally, Bucyrus Wisconsin Property, a subsidiary of Caterpillar Inc., sold the property to W.P. Carey for $16.8 million. Tom Shepherd and Matthew Stauber of Colliers represented Caterpillar in the lease and sale of the campus.

September 9, 2016

Healthcare Market Reports Office Retail Texas Texas Market Reports

Rio Grande Valley Commercial Real Estate Growth is Happening

by Haisten Willis September 9, 2016

Growth. It is occurring all across the Rio Grande Valley. From the residential sector to the retail development industry, regional statistics indicate there is an overwhelming boom in the Valley. The rise in the region’s population and the increasing number of yearly visits from Mexican nationals, among other factors, are contributing to the boom. The Rio Grande Valley commercial real estate industry has seen steady, consistent growth over the last two years. National retailers looking to incorporate themselves into the local economy or expand their existing business include Main Event Entertainment, Raising Cane’s Chicken Fingers, Menchie’s Frozen Yogurt, Dave & Busters, Dick’s Sporting Goods, HomeGoods, Chick-fil-A and Walmart. Local and international retailers including Super Cream Restaurant & Bakery, Kurai Sushi Buffet, and Dona Tota are also expanding in the region. Other entities helping to spur growth in the commercial real estate industry are the University of Texas Rio Grande Valley (UTRGV) campuses in Edinburg, Harlingen and Brownsville, and a number of large investment retail projects in the upper and mid-valley including the development of the 8,500-seat Bert Ogden Arena in Hidalgo County. Impact of UTRGV The University of Texas Rio Grande Valley is less than two years old and boasts …

September 9, 2016

Midwest Minnesota Office

CBRE Arranges $200M Sale of Ameriprise Financial Center in Minneapolis

by Amy Works September 8, 2016

MINNEAPOLIS — CBRE Capital Markets has brokered the sale of Ameriprise Financial Center, a 31-story, 847,667-square-foot office building located at 701 Second Ave. South in downtown Minneapolis. A joint venture between Axar Capital Management and Morning Calm Management acquired the property for $200 million, or $236 per square foot. Built in 2000, the building serves as the global headquarters for Ameriprise Financial. Tom Holtz, Ryan Watts, Judd Welliver and Sonja Dusil of CBRE’s Minneapolis office represented the seller’s advisor and asset manager, Founders Properties LLC, in the transaction.

September 8, 2016

Midwest Office Ohio

CBRE Retained as Leasing Agent for Huntington Center in Downtown Columbus

by Amy Works September 8, 2016

COLUMBUS, OHIO — CBRE has been retained as the exclusive leasing agent for Huntington Center, located at 41 S. High St. in Columbus. The 37-story, 1 million-square-foot office tower features 27,000 square feet of retail space, a 1,000-car parking facility and a 29,650-square-foot athletic club. Brad McMahon and Don Roberts of CBRE will lease the building on behalf of Hines, which owns and manages the property. Hines plans to make significant upgrades to the property, including a new amenity package with a tenant lounge, rooftop patio and secure bike storage. Hartshorne Plunkard Architecture is designing the upgrades.

September 8, 2016

Midwest Minnesota Office

Cushman & Wakefield NorthMarq Arranges 9,800 SF Office Lease in Minneapolis Suburb

by Amy Works September 8, 2016

BROOKLYN CENTER, MINN. — Cushman & Wakefield NorthMarq, on behalf of landlord The AtWater Group, has arranged the lease of 9,800 square feet of office space at Concorde Executive Center in Brooklyn Center, a suburb of Minneapolis. United Food and Commercial Workers will move into the space by Nov. 1. With this lease, the six-story property’s occupancy rate is 67 percent. Aaron Barnard of Cushman & Wakefield Northmarq represented The AtWater Group in the deal.

September 8, 2016

Newer Posts

Older Posts

Upcoming Events

Aug
06