Property Type

The-District-at-1515-Parsippany-New-Jersey

Partnership to Develop 498-Unit Multifamily Project in Parsippany, New Jersey

by Taylor Williams February 6, 2023

PARSIPPANY, N.J. — A partnership between Los Angeles-based PCCP LLC, Claremont Development and Stanbery Development will build The District at 1515, a 498-unit multifamily project in the Northern New Jersey community of Parsippany. The four-building development will include 58,866 square feet of retail space that will be marketed to a mix of full-service and fast casual restaurants, as well as fitness users and soft goods merchandisers. Residential amenities will include a pool, fitness center, lounge area, conference center and a pet spa. Completion is slated for early 2025.

February 6, 2023

Acquisitions Michigan Midwest Office Retail

Colliers Brokers Sale of 24,000 SF Historic Building in Detroit

by Kristin Harlow February 6, 2023

DETROIT — Colliers has brokered the sale of the historic Grand Army of the Republic (GAR) building in Detroit for an undisclosed price. The 24,000-square-foot property is located at 1942 Grand River Ave. Newgar LLC sold the asset to Joe Barbat of Barbat Holdings. Benji Rosenzweig and Ben Hubert of Colliers represented both parties in the transaction. The building currently houses a restaurant, office and event space. The buyer intends to convert the property into strictly event space with a new steakhouse on the ground floor to replace the old Parks & Rec Diner and Republic Tavern restaurants. The GAR building opened in 1901 as a place for the city’s Civil War veterans to gather. The GAR is a nationwide organization founded in 1866.

February 6, 2023

Leasing Activity Midwest Missouri Office

Kadean Construction to Relocate St. Louis Office to Sunset Hills, Missouri

by Kristin Harlow February 6, 2023

SUNSET HILLS, MO. — In April, Kadean Construction will move its St. Louis office from Fenton to Sunset Hills. The contractor will occupy roughly 10,500 square feet within Laumeier Office Park Building 4 after an approximately $1.2 million renovation and buildout is completed. Kadean’s architecture team is leading the design of the new space with assistance from eddy Design Group. The move comes as Kadean’s office staff has grown from 20 employees to 36 over the past 15 months. The new office will feature conference rooms, training areas and collaboration space. Kadean is also finalizing a lease for roughly 4,600 square feet of warehouse space in the Westport area to relocate and accommodate its expanding storage needs. Kadean also has an office in Kansas City. Total company employment now stands at 85. The construction firm has grown from $85.2 million in revenue in 2019 to an estimated $340 million in 2022.

February 6, 2023

Acquisitions California Retail Western

IRA Capital Sells 157,322 SF Poinsettia Plaza Shopping Center in Ventura, California for $66M

by Amy Works February 6, 2023

VENTURA, CALIF. — IRA Capital has completed the disposition of Poinsettia Plaza, a shopping center located at 4220-4360 E. Main St. and 4687-4731 Telephone Road in Ventura. An undisclosed buyer acquired the property for $66 million. At the time of sale, the 157,322-square-foot Poinsettia Plaza was 96.5 percent occupied. Current tenants include Ross Dress for Less, Office Depot, Petco, FedEx, Lamps Plus and Aldi. Recent renovations at the property include modernizations of existing facades, new landscaping and parking lot upgrades. Pete Bethea, Rob Ippolito and Glenn Rudy of Newmark represented the seller in the deal.

February 6, 2023

Acquisitions Illinois Midwest Multifamily

Interra Realty Arranges $5.2M Sale of Apartment Building in Chicago

by Kristin Harlow February 6, 2023

CHICAGO — Interra Realty has arranged the sale of a 42-unit apartment building located at 4070 N. Kenmore Ave. in Chicago’s Buena Park neighborhood for $5.2 million. All of the units are studios and were recently renovated. Originally constructed in 1929, the property was fully occupied at the time of sale. Joe Smazal of Interra represented the private local seller as well as the buyer, a local private investor. As part of the transaction, the buyer assumed the existing loan on the asset.

February 6, 2023

Acquisitions California Retail Western

Hanley Investment Group Brokers $21.2M Sale of El Dorado Shopping Center in Long Beach, California

by Amy Works February 6, 2023

LONG BEACH, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of El Dorado Shopping Center, a retail property located at 8105-8195 E. Wardlow Road in Long Beach. A partnership managed and represented by Orange-based Milan Capital Management acquired the asset from El Segundo-based DPI Retail for $21.2 million. Grocery Outlet and Dollar Tree anchor the 74,500-square-foot shopping center. Built in 1965 and renovated in 2003, the asset was 93 percent occupied at the time of sale. Kevin Fryman and Ed Hanley of Hanley Investment Group represented the seller in the transaction.

February 6, 2023

Acquisitions California Retail Western

Dunbar Real Estate Holdings Buys 92,640 SF Retail/Industrial Portfolio in Los Angeles County

by Amy Works February 6, 2023

GARDENA, CALIF. — El Segundo, Calif.-based Dunbar Real Estate Holdings LLC has acquired two freestanding retail and industrial buildings from T.A. Properties LTD for $22.7 million in an off-market transaction. The buildings are located at 1355-1361 W. 190th St. in Gardena. AutoZone, 3 Day Suit Broker, Off Broadway West and 4 Wheel Parts are tenants at the 92,640-square-foot asset. The property consists of two concrete tilt-up buildings situated on 3.7 acres. The buildings offer 18-foot and 19-foot clear heights, fire sprinklers, dock-high loading doors, private security fenced yards and ample grade-level parking. Chuck Brill of DAUM Commercial represented the buyer, while The Altemus Co. represented the seller in the deal.

February 6, 2023

Leasing Activity New York Northeast Office

CBS Broadcasting Signs 186,882 SF Office Lease Renewal in Manhattan

by Taylor Williams February 6, 2023

NEW YORK CITY — CBS Broadcasting has signed a five-year, 186,882-square-foot office lease renewal at 555 W. 57th St. in Manhattan’s Hell’s Kitchen neighborhood. The 20-story building, which was completed in 2005, was originally known as the Ford Motors Building due to the automotive giant’s showroom on the ground floor. BMW now occupies that space. Scott Gottlieb, Andrew Sussman and Rocco Laginestra of CBRE represented the tenant in the lease negotiations. The landlord, SL Green, was self-represented.

February 6, 2023

Development Multifamily New Jersey Northeast

Accurate Begins Leasing 105-Unit Apartment Complex in Bound Brook, New Jersey

by Taylor Williams February 6, 2023

BOUND BROOK, N.J. — Accurate has begun leasing Citizen Bound Brook, a 105-unit apartment complex in Northern New Jersey. Designed by Jarmel Kizel Architects & Engineers, the property offers studio, one- and two-bedroom units with stainless steel appliances, quartz countertops and tile backsplashes. Amenities include a clubroom, fitness center and a landscaped terrace. The building also houses 5,000 square feet of street-level retail space. Rents start at approximately $1,600 per month for a studio

February 6, 2023

Acquisitions Colorado Industrial Western

Matrix Group Acquires 138,500 SF Industrial Property in Denver

by Amy Works February 6, 2023

DENVER — Matrix Group has purchased an industrial property, located at 4590 Jason St. in Denver, from The West 45th Warehouse for $12.5 million. The asset features 138,500 square feet of industrial space. Evan Makovsky and Matt Emmons of NAI Shames Makovsky represented the seller in the deal.

February 6, 2023

Newer Posts

Older Posts