Property Type

Hanley Investment Group Arranges Sale of 174,000 SF Shopping Center in Lincoln, Nebraska

by Kristin Harlow March 17, 2020

LINCOLN, NEB. — Hanley Investment Group Real Estate Advisors has arranged the sale of Edgewood Shopping Center in Lincoln for an undisclosed price. Built in 1991, the 174,000-square-foot shopping center sits on 22 acres. At the time of sale, the center was 95 percent occupied to tenants such as Super Saver Foods, CVS, Dollar Tree, AutoZone, Herbalife, Party America, Petco, Cartridge World, H&R Block and Papa John’s. Hanley Investment Group represented the seller, Perkins Properties. Scott Taubin of The R.H. Johnson Co. represented the buyer, a Kansas City-based private investor.

March 17, 2020

Hospitality Loans New Hampshire Northeast

HREC Arranges $14.1M Construction Loan for Tru by Hilton Hotel in Manchester, New Hampshire

by Alex Patton March 17, 2020

MANCHESTER, N.H. — Hospitality Real Estate Counselors (HREC) has arranged a $14.1 million construction loan for the 126-room Tru by Hilton hotel in Manchester, located approximately 15 miles south of Concord. A regional bank provided the loan. Florida-based developer Lansing Melbourne Group is building the hotel for $23 million, according to local news site manchesterinklink.com. John Siska and Mike Armstrong of HREC arranged the loan, specific terms of which were undisclosed. The hotel is expected to open in third quarter of 2020.

March 17, 2020

Acquisitions Illinois Industrial Midwest

SVN Chicago Commercial Brokers $2M Sale of Industrial Property in Chicago

by Kristin Harlow March 17, 2020

CHICAGO — SVN Chicago Commercial has brokered the $2 million sale of a 44,500-square-foot industrial property located at 4417 S. Springfield Ave. in Chicago’s Archer Heights neighborhood. Beverly Hayes and John McDermott of SVN represented the undisclosed seller. A Chicago-based company purchased the asset due to its location and loading capacity, according to Hayes.

March 17, 2020

Colorado Development Multifamily Western

Opus Group Acquires Land Parcel for 277-Unit Multifamily Development in Denver

by Amy Works March 17, 2020

DENVER — The Opus Group has purchased a 1.65-acre land parcel at 19th and Clay streets in Denver for the development of an apartment property. The Nichols Partnership sold the property for an undisclosed price. The vacant lot and parking garage are located adjacent to the Broncos stadium redevelopment in the city’s Jefferson Park neighborhood. The current plans for the multifamily property include a 12-story building offering 277 apartments in a mix of studio, one- and two-bedroom units, averaging 763 square feet, and three levels of structured parking with 288 parking spaces. Planned amenities include premium finishes and unobstructed mountain and city views. Newmark Knight Frank (NKF) Multifamily arranged the sale, construction financing and joint venture equity for the project’s development. Chris Cowan, Bryon Stevenson and Mackenzie Walker of NKF Multifamily handled the transaction.

March 17, 2020

Acquisitions Illinois Midwest Retail

Avalon Equities Buys 5,780 SF Retail Building in Barrington, Illinois

by Kristin Harlow March 17, 2020

BARRINGTON, ILL. — Avalon Equities has purchased Barrington Station, a 5,780-square-foot retail building in Barrington, a northwest suburb of Chicago. The purchase price was undisclosed. Tenants at the property include Starbucks, Verizon, Briddick Tile & Stone and Skinovatio Medical Spa. CBRE represented the seller, GK Development.

March 17, 2020

Indiana Industrial Leasing Activity Midwest

Schindler Renews 2,150 SF Industrial Lease in Fort Wayne, Indiana

by Kristin Harlow March 17, 2020

FORT WAYNE, IND. — Schindler Elevator Corp. has renewed its 2,150-square-foot industrial lease at 7616 DiSalle Blvd. in Fort Wayne. John Caffray of Sturges Property Group represented the tenant as well as the landlord, DiSalle Boulevard Partnership. Switzerland-based Schindler Group is one of the leading global manufacturers of elevators, escalators and moving walks. The U.S. headquarters for Schindler Elevator Corp. is based in Morristown, N.J.

March 17, 2020

Acquisitions Multifamily Nevada Western

3D Investments Sells Apartment Complex in Las Vegas for $22M

by Amy Works March 17, 2020

LAS VEGAS — 3D Investments has completed the disposition of Las Brisas De Cheyenne, a multifamily property located in Las Vegas. Epic Investment Services acquired the asset for $22 million, or $125,000 per unit. Located at 3985 E. Cheyenne Ave., Las Brisas De Cheyenne features 176 apartments. Patrick Sauter, Art Carll-Tangora and Steve Nosrat of the Sauter Multifamily Group at Avison Young represented the seller in the transaction.

March 17, 2020

Acquisitions California Industrial Western

Terreno Realty Buys Industrial Asset in California for $18M

by Amy Works March 17, 2020

RANCHO DOMINGUEZ, CALIF. — Terreno Realty Corp. has acquired an industrial property located in Rancho Dominguez for $18 million. The name of the seller was not released. Situated on 3.7 acres at 2310 E. Gladwick St., the 66,000-square-foot industrial distribution facility features 13 dock-high and two grade-level loading positions and parking for 81 cars. At the time of sale, the asset was fully leased to one tenant.

March 17, 2020

Acquisitions Arizona Retail Western

Cushman & Wakefield Arranges $2.5M Sale of Retail Building in Tucson, Arizona

by Amy Works March 17, 2020

TUCSON, ARIZ. — Cushman & Wakefield has brokered the sale of a multi-tenant retail building situated within Santa Cruz Plaza at 3782 S. 16th Ave. in Tucson. Carlsbad, Calif.-based Blue Hat LLC acquired the asset from Los Angeles-based Santa Cruz Center LLC for $2.5 million. The 7,200-square-foot building is an outparcel to Santa Cruz Plaza, a 271,600-square-foot shopping center anchored by Fry’s Grocery. At the time of sale, the property was fully leased to four tenants: Subway, Cricket Wireless, Nationwide Vision and Affordable Dentures & Implants. Chris Hollenbeck and Shane Carter of Cushman & Wakefield’s Phoenix office represented the seller in the deal.

March 17, 2020

Colorado Loans Mixed-Use Retail Top Stories Western

Kroenke Sports, Revesco Receive $124.6M Refinancing for Elitch Gardens Theme Park in Denver

by John Nelson March 17, 2020

DENVER — Kroenke Sports and Entertainment (KSE) and Revesco Properties have received a $124.6 million loan to refinance Elitch Gardens Theme and Water Park in downtown Denver. The 130-year-old property is Colorado’s only combination amusement park and water park. The park is set to open for its 2020 season in April, but no word has come out if the outbreak of COVID-19 has changed that plan. Eric Tupler and Tyler Dumon of JLL arranged the five-year, floating-rate loan through Pacific Western Bank. KSE and Revesco, both based in Denver, plan to use the loan to retire existing debt and fund predevelopment work for the future River Mile project. Expected to take 25 years to fully come to fruition, River Mile is Revesco’s planned mixed-use district that will span 62 acres along a one-mile stretch of the South Platte River. KSE is a partner on the project. River Mile will eventually replace the amusement park, according to local media outlets. The redevelopment is expected to span 14 million square feet of residential and commercial mixed-use space, as well as public space along the riverfront. The River Mile project will include Meow Wolf, a 90,000-square-foot art installation attraction that is expected to …

March 17, 2020

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