Property Type

HFF Arranges $41.5M Acquisition Loan for Industrial Facility in New Jersey

by David Cohen December 10, 2018

EDISON, N.J. — HFF has arranged a $41.5 million loan for the acquisition of Middlesex Logistics Center, a 507,000-square-foot warehouse and distribution center in Edison. Built in 2014, the fully leased property features 36-foot clear heights, 101 loading docks and parking for 190 cars and 135 trailers. The property is located at 549 Mill Road, approximately 35 miles southwest of New York City. Jon Mikula and Andrew Zilenziger of HFF represented the borrower, Cohen Asset Management in the transaction. Principal Real Estate Investors provided the 10-year, fixed-rate loan.

December 10, 2018

Connecticut Development Hospitality Northeast

UC Funds Celebrates Grand Opening of Residence Inn Stamford Downtown in Connecticut

by David Cohen December 10, 2018

STAMFORD, CONN. — UC Funds has cut the ribbon on the newly completed Residence Inn Stamford Downtown. Located at 25 Atlantic St., it is the first hotel in Stamford to offer extended-stay lodging. UC funds acquired the property in 2017 and completed construction of the project. The eight-story, 156-room hotel opened Nov. 21. The Marriott-franchised hotel is managed by Urgo Hotels & Resorts. The Residence Inn features apartment-style accommodations and more than 2,000 square feet of meeting and event space. Amenities include complimentary Wi-Fi, a whirlpool spa, a 2,000-square-foot fitness center and a 24-hour market as well as a mezzanine-level outdoor bar. UC Funds also acquired the adjacent Courtyard Stamford Downtown in 2016.v

December 10, 2018

Acquisitions Delaware Northeast Property Type Retail

Marcus & Millichap Brokers Sale of 50,590 SF Retail Property in Delaware

by David Cohen December 10, 2018

MILLSBORO, DEL. — Marcus & Millichap has brokered the sale of Nanticoke Crossing, a 50,590-square-foot retail property in Millsboro. The sales price was undisclosed. The fully occupied property is anchored by supermarket chain Weis Markets. Nanticoke Crossing was the first shopping center developed along the John G. Williams Highway retail corridor in Millsboro. Chris Burnham and Dean Zang of Marcus & Millichap represented the seller, a local family, in the transaction. The buyer was a Pennsylvania-based corporation.

December 10, 2018

Loans Maine Multifamily Northeast Seniors Housing

PGIM Provides $9.9M HUD Financing Package for Retirement Campus in Maine

by David Cohen December 10, 2018

FALMOUTH, MAINE — PGIM Real Estate Finance has originated a financing package totaling $9.9 million for OceanView at Falmouth, an 80-acre seniors housing campus in the Portland suburb of Falmouth. Sea Coast Management Co. owns the property, which features 42 custom-designed homes, 57 cottages, 118 independent living apartments and a 30-bed memory care facility. The financing includes two HUD healthcare loans and each is for a different property on the campus. A $4.4 million loan will be used for the construction of a two-story expansion to the assisted living portion of the campus, as well as renovations to the existing common areas. A $5.5 million loan will refinance the memory care portion of the campus, extending the loan term and converting from a floating rate to a fixed rate. The memory care wing was built in 2014 and has maintained 100 percent occupancy with a waiting list since its construction.

December 10, 2018

Illinois Loans Midwest Multifamily

CIBC Provides $31.1M Construction Financing for Condominium Development in Chicago’s Wicker Park

by Kristin Harlow December 10, 2018

CHICAGO — CIBC Bank USA has provided $31.1 million in construction financing for 43 luxury condominium units and 12 townhomes in Chicago’s Wicker Park. The development is named Alcove M.D.P. for its proximity to Milwaukee Avenue, Division Street and Paulina Street. Vermilion Development is the developer. The seven-story condominium building will include units averaging almost 2,000 square feet. Units start at $600,000. The 12 four-bedroom townhomes, each attached with garages, are sized between 3,000 and 3,500 square feet. The townhomes start at $1 million. Vermilion is expected to break ground on the project in the first quarter of 2019, but a timeline for completion was not disclosed. Christopher Knight of HFF arranged the financing.

December 10, 2018

Acquisitions Indiana Midwest Multifamily

Cushman & Wakefield Arranges Sale of 151-Unit Apartment Property in Indianapolis

by Kristin Harlow December 10, 2018

INDIANAPOLIS — Cushman & Wakefield has arranged the sale of The Coil Apartments in Indianapolis for an undisclosed price. The 151-unit apartment property, located at 6349 N. College Ave., includes a 33,500-square-foot retail space occupied by Fresh Thyme Farmers Market. Todd Stofflet, Jason Stevens and Susan Tjarksen of Cushman & Wakefield represented the sellers, Sheehan Cos. and Browning Investments. RDG Funds purchased the asset.

December 10, 2018

Development Industrial Midwest Missouri Office

Keystone Construction Completes Renovation of UniGroup Headquarters in Fenton, Missouri

by Kristin Harlow December 10, 2018

FENTON, MO. — Keystone Construction has completed the renovation of UniGroup’s headquarters in Fenton. UniGroup, the parent company of multiple transportation-related companies, is offering excess office space for lease. The campus totals approximately 450,000 square feet and is situated near the interchange of I-270 and I-44. The multi-million dollar renovation included upgrades to the HVAC system, roof, façade, windows, workout facility and cafeteria. Keystone Construction served as contractor and ACI Boland was the architect. NAI DESCO has been hired to market the 50,000-square-foot vacant space at One Premier Drive.

December 10, 2018

Acquisitions Illinois Midwest Multifamily

Essex Brokers Sale of Apartment Building in Chicago for $24.5M

by Kristin Harlow December 10, 2018

CHICAGO — Essex Realty Group Inc. has brokered the sale of The Northland Apartments in Chicago’s Old Town neighborhood for $24.5 million. The luxury apartment building comprises 60 units and one restaurant, Two Lights Seafood & Oyster. Amenities include a dog run and rooftop deck. Monthly rents start at $1,700. Jim Darrow and Jordan Gottlieb of Essex represented the seller, local developer JAB Real Estate. Kate Verde of Essex represented the out-of-state buyer who was completing a 1031 tax-deferred exchange.

December 10, 2018

Acquisitions Healthcare Illinois Midwest

Marcus & Millichap Negotiates $3.7M Sale of Property Occupied by DaVita Dialysis in Northern Illinois

by Kristin Harlow December 10, 2018

SOUTH HOLLAND, ILL. — Marcus & Millichap has negotiated the $3.7 million sale of a 9,703-square-foot property occupied by DaVita Dialysis in South Holland, about 20 miles south of Chicago. The facility, located at 16110 LaSalle St., opened in 2016. DaVita operates under a 15-year, double net lease. Valerie Cook, Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the undisclosed seller. An out-of-state buyer completing a 1031 tax-deferred exchange purchased the asset.

December 10, 2018

Development Industrial Texas

Perot Development to Build 2.4 MSF Industrial Park Near DFW Airport

by Taylor Williams December 10, 2018

IRVING, TEXAS — Perot Development Co. will build a 2.4 million-square-foot industrial park on a 196-acre tract located at the eastern end of Dallas-Fort Worth International Airport. The site, which is located near the regional hubs of FedEx and UPS, fronts the George Bush Turnpike and connects to a Dallas Area Rapid Transit (DART) station. The project is expected to break ground by March 2019 and will deliver four buildings that are anticipated to be available for lease by 2020. Halff Associates is serving as the project architect and civil engineer, and Peinado Construction will be the general contractor.

December 10, 2018

Newer Posts

Older Posts

Upcoming Events

Aug
06