Property Type

Alliance Residential Delivers 260-Unit Apartment Complex in Charlotte’s South End

by Alex Tostado July 22, 2020

CHARLOTTE, N.C. — Alliance Residential has delivered Broadstone Queen City, a 260-unit apartment complex in Charlotte’s South End neighborhood. The property offers studio, one- and two-bedroom floor plans. Units include electronic locks, wood plank-style flooring, quartz countertops, GE appliances and floor-to-ceiling windows. Communal amenities include a saltwater pool, rooftop bar and lounge, courtyard, fitness center, dog park, office suites and ground-level retail space that will soon welcome Queen City Grounds coffee. Broadstone Queen City is situated at 101 W. Morehead St., less than one mile from downtown Charlotte and half a mile from the LYNX Blue Line light rail station.

July 22, 2020

Leasing Activity New York Northeast Office

Tishman Speyer Opens Two New Coworking Spaces in Manhattan

by Taylor Williams July 22, 2020

NEW YORK CITY — Locally based investment firm Tishman Speyer is expanding its coworking brand Studio with the opening of two new locations at Rockefeller Center’s 1230 Avenue of the Americas and 300 Park Avenue in Manhattan. The space at 1230 Avenue of the Americas spans 110,000 square feet across four floors, and the space at 300 Park Avenue spans 32,000 square feet. Studio features include private offices of varying sizes, videoconferencing facilities, onsite childcare and medical services and virtual wellness and fitness programs. Tishman Speyer first introduced the concept at Rockefeller Center in 2018, achieving full occupancy within the first five months of opening.

July 22, 2020

Acquisitions Florida Industrial Southeast

Dalfen Acquires 204,900 SF Industrial Building in West Palm Beach Leased to Serta Simmons

by Alex Tostado July 22, 2020

WEST PALM BEACH, FLA. — Dalfen Industrial has acquired a 204,900-square-foot industrial building fully leased to Serta Simmons in West Palm Beach. The mattress company has been the sole tenant at the property since it was commissioned in 1996. The asset is situated 3774 Interstate Park Road N., seven miles northwest of downtown West Palm Beach and one mile from Interstate 95. The property features a 2.2-acre truck parking lot and is fully fenced with a guard house at the entrance. The seller and sales price were not disclosed.

July 22, 2020

Development Multifamily New York Northeast Seniors Housing

Engel Burman Completes 120-Unit Assisted Living Community on Long Island

by Taylor Williams July 22, 2020

MOUNT SINAI, N.Y. — Seniors housing developer and operator Engel Burman has opened The Bristal at Mount Sinai, a 120-unit assisted living community in the Long Island hamlet of Mount Sinai. The Bristal at Mount Sinai has 76 assisted living apartments and 44 additional apartments for memory care. Monthly rents begin at $5,200 for assisted living and $8,400 for memory care. This is the 20th Bristal-branded community, with 15 of those located on Long Island.

July 22, 2020

Leasing Activity New York Northeast Office

Keller Williams Signs 20,000 SF Office Sublease at 99 Park Avenue in Manhattan

by Taylor Williams July 22, 2020

NEW YORK CITY — Realtor Keller Williams has subleased 20,000 square feet of office space at 99 Park Avenue in Manhattan from Gould Paper Corp. Helmsley Spear owns the Class A building, which is located between 39th and 40th streets in the Midtown area. Kent Swig, Andrew Simon and Brett Zelner negotiated the sublease for Helmsley Spear on an internal basis. Edward Kalisvaart represented Keller Williams, also on an internal basis. The sublease term runs through December 2023.

July 22, 2020

Acquisitions Industrial NAI New Jersey Northeast

NAI James Hanson Arranges Sale of 18,729 SF Industrial Building in Randolph, New Jersey

by Taylor Williams July 22, 2020

RANDOLPH, N.J. — NAI James Hanson has arranged the sale of an 18,729-square-foot industrial building located at 246 S. Salem St. in Randolph, about 40 miles west of New York City. According to LoopNet Inc., the property was built on 3.4 acres in 1952. Jonathan Kristofich and John Schilp of NAI James Hanson represented the seller, a private estate, and procured the buyer, Salem Enterprises LLC.

July 22, 2020

Indiana Industrial Leasing Activity Midwest

Amazon Leases 530,400 SF Within Indiana Industrial Park

by Kristin Harlow July 22, 2020

WHITELAND, IND. — Amazon has leased a newly constructed, 530,400-square-foot industrial building within Whiteland Exchange in suburban Indianapolis. The 2.4 million-square-foot industrial business park is located at I-65 and Whiteland Road. Avison Young is the exclusive listing agent for the 167-acre development. Sean McHale and Peter Seoane of Avison Young represented the developer, Jones Development Co. in the new lease with Amazon. With the completion of this lease, Jones plans to begin its next speculative project at Whiteland Exchange.

July 22, 2020

Acquisitions Hospitality Illinois Midwest

Marriott Chicago Northwest Hotel Trades Hands in Hoffman Estates

by Kristin Harlow July 22, 2020

HOFFMAN ESTATES, ILL. — The 295-room Marriott Chicago Northwest hotel has sold for an undisclosed price. Situated in the northwest Chicago suburb of Hoffman Estates, the hotel opened in 2002. It features nearly 13,000 square feet of flexible meeting and event space. Hoffman Estates Hotel Group LLC, led by Harry and Alex Ghoman of Indianapolis-based The Ghoman Group, acquired the property. Ghoman plans to embark on capital improvements, such as renovating the guest rooms and lobby. John Karver and Eric Belfrage of CBRE Hotels represented the undisclosed seller. Rushi Shah and Prabhat Jayara of Mag Mile Capital arranged a bridge loan for the acquisition on behalf of Ghoman.

July 22, 2020

Indiana Loans Midwest Multifamily

Berkadia Provides $16.6M Refinancing for Mid-Rise Multifamily Property in Indianapolis

by Kristin Harlow July 22, 2020

INDIANAPOLIS — Berkadia has provided a $16.6 million Freddie Mac loan for the refinancing of River House in Indianapolis. Built in 2018, the 90-unit multifamily property is located at 6311 Westfield Blvd. within Broad Ripple Village. Amenities include a rooftop balcony, fitness center and enclosed parking garage. Michael Zaremski and Michael Shmuely of Berkadia secured the permanent refinancing on behalf of the undisclosed borrower. The 10-year loan, which features a 30-year amortization schedule, was used to retire a construction loan.

July 22, 2020

Acquisitions Illinois Industrial Midwest Office

SVN | Chicago Commercial Brokers $8.2M Sale of Redevelopment Site in Chicago’s Humboldt Park

by Kristin Harlow July 22, 2020

CHICAGO — SVN | Chicago Commercial has brokered the sale of a redevelopment site in Chicago’s Humboldt Park neighborhood for $8.2 million. The multi-building property sits on 6.5 acres at 1334, 1330 and 1030 N. Kostner Ave. The buyer, 1334 Kostner Owner LLC, is a subsidiary of IBT Group LLC. IBT plans to undertake an extensive office redevelopment project at the site. Jennifer Hopkins and Olivia Czyzynski of SVN represented the buyer. John McDermott of SVN represented the undisclosed seller along with outside broker Amy Van Hook.

July 22, 2020

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