Property Type

Interra Realty Arranges $3.7M Sale of Firestone-Occupied Property in Skokie, Illinois

by Kristin Harlow February 17, 2020

SKOKIE, ILL. — Interra Realty has arranged the $3.7 million sale of a property occupied by Firestone Complete Auto Care in Skokie, about 15 miles north of Chicago. The property is located at 8801 Skokie Blvd. Paul Waterloo of Interra represented the private local buyer, which will assume an existing lease that has seven years remaining. Colin O’Malley of Interra represented the seller, a family trust that has owned the asset for more than 50 years. Built in 1950, the property features nine bays, 18 drive-in doors and a parking lot.

February 17, 2020

Acquisitions Illinois Midwest Retail

Quantum Brokers $2.5M Sale of Retail Building in Libertyville, Illinois

by Kristin Harlow February 17, 2020

LIBERTYVILLE, ILL. — Quantum Real Estate Advisors Inc. has brokered the sale of an 11,614-square-foot retail property in Libertyville for $2.5 million. The anchor tenant is real estate brokerage firm @Properties. The asset is located at 200-218 S. Milwaukee Ave. Chad Firsel of Quantum represented the seller, a local property owner. Jason Lenhoff of Quantum represented the buyer, a local real estate investment group.

February 17, 2020

Acquisitions Multifamily Texas

Western Wealth Capital Buys 272-Unit Oak Grove Apartments in Houston

by Taylor Williams February 17, 2020

HOUSTON — Canadian investment firm Western Wealth Capital has purchased Oak Grove Apartments, a 272-unit community in Houston. Built in 2004, the property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, playground and a dog park. Andy Hill and Tyler Nowlin of Berkadia arranged a three-year, adjustable-rate loan for the transaction on behalf of Western Wealth Capital. The loan includes proceeds for capital improvements.

February 17, 2020

Loans Multifamily Texas

Dougherty Arranges Acquisition Financing for 105-Unit Multifamily Asset in Fort Worth

by Taylor Williams February 17, 2020

FORT WORTH, TEXAS — Dougherty Mortgage LLC has arranged an undisclosed amount of acquisition financing for Monterrey Apartments & Townhomes, a 105-unit multifamily asset in Fort Worth. The property features one-, two- and three-bedroom units and amenities such as a pool, outdoor grilling stations and a playground. Dougherty arranged the 12-year loan through a partnership with Old Capital Lending for borrower JARS Monterrey 105 LLC.

February 17, 2020

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 50,000 SF Industrial Lease Near Galveston

by Taylor Williams February 17, 2020

TEXAS CITY, TEXAS — Lee & Associates has negotiated a 50,000-square-foot industrial lease at 10000 Emmett F. Lowry Expressway in Texas City, located southeast of Houston near Galveston. Frank Blackwood and John Gazzola of Lee & Associates represented the tenant, Odyssey 2020 Academy Inc., in the lease negotiations. The name and representative of the landlord were not disclosed.

February 17, 2020

Acquisitions Retail Texas

Marcus & Millichap Brokers Sale of 26,500 SF Mars Plaza Shopping Center in Beaumont

by Taylor Williams February 17, 2020

BEAUMONT, TEXAS — Marcus & Millichap has brokered the sale of Mars Plaza, a 26,500-square-foot shopping center located in the East Texas city of Beaumont. Gus Lagos, Justin Miller, Davis Hansen, Alan Wolansky and Harris Brooks of Marcus & Millichap represented the seller, a locally based developer, in the transaction. The buyer was a Houston-based limited liability company. Both parties requested anonymity.

February 17, 2020

Acquisitions Industrial Office Texas

Henry S. Miller Arranges Sale of 14,023 SF Office, Warehouse Near Fort Worth

by Taylor Williams February 17, 2020

NORTHLAKE, TEXAS — Henry S. Miller Brokerage has arranged the sale of a 14,023-square-foot office and warehouse property located at 4325 Dale Earnhardt Way in Northlake, a suburb of Fort Worth. The property was built on four acres in 2016. Chad Montgomery and Dan Spika of Henry S. Miller represented the buyer, investor Bruce Long, in the transaction. Chuck Horton of The Michael Group Real Estate represented the seller, 13415 Cleveland Gibbs LLC.

February 17, 2020

Acquisitions Multifamily Northeast Pennsylvania Seniors Housing

Rittenhouse Sells Student Housing Portfolio in Philadelphia for $23.7M

by Alex Patton February 17, 2020

PHILADELPHIA — Rittenhouse Realty Advisors has sold a nine-property student housing portfolio near Temple University in North Philadelphia for $23.7 million. The portfolio comprises 92 units totaling 253 beds. All of the properties in the portfolio were constructed within the last five years, and the majority are two- or three-bedroom units. At the time of sale, the portfolio was 100 percent occupied for the 2019 to 2020 school year. The buyer was undisclosed.

February 17, 2020

Development Industrial New York Northeast

Barone Completes 89,024 SF Spec Industrial Project in Queens

by Alex Patton February 17, 2020

NEW YORK CITY — Barone Management has completed development of The Woodworks, an 89,024-square-foot industrial property in the Long Island City neighborhood of Queens. The Woodworks is comprised of 44,950 square feet of office space and 44,391 square feet of warehouse space with 21-foot ceilings. The location offers convenient access to Long Island Expressway and Interstate 278. The property was constructed on a speculative basis and can be leased by one or multiple tenants. Cushman & Wakefield is leading the leasing effort.

February 17, 2020

Leasing Activity New York Northeast Office

NKF Negotiates 52,412 SF Office Lease Renewal in Manhattan

by Alex Patton February 17, 2020

NEW YORK CITY — Newmark Knight Frank (NKF) has negotiated a 52,412-square-foot office lease renewal for quantitative trading firm Susquehanna International Group LLP in the Financial District of Manhattan. The firm will occupy the entire 47th and 48th floors of 140 Broadway, a 1.2 million-square-foot office building, on a 16-year lease. Brian Goldman and Ross Perlman of NKF represented the tenant in the lease negotiations. Robert Constable of Cushman & Wakefield represented the building owner, a partnership of 140 BW LLC and German investment firm Union Investment Real Estate GmbH.

February 17, 2020

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