Property Type

Cushman & Wakefield Arranges $10.8M Sale of Mixed-Use Building in Manhattan

by David Cohen April 15, 2019

NEW YORK CITY — Cushman & Wakefield has arranged the $10.8 million sale of an 8,076-square-foot mixed-use building in the NoLita neighborhood of Manhattan. Located at 51 Spring St., the six-story property is comprised of 15 residential apartments and two retail spaces. The retail component of the space is currently leased to two restaurants through December 2021. Robert Burton, Robert Shapiro, Bobby Carrozzo and Jordan Sutton of Cushman & Wakefield represented the undisclosed seller in the transaction. The buyer was a partnership between Javeri Capital and DNA Development.

April 15, 2019

Acquisitions Georgia Multifamily Southeast Walker & Dunlop

Walker & Dunlop Arranges $47M Sale of New Multifamily Community in Atlanta’s West Midtown

by Alex Tostado April 15, 2019

ATLANTA — Walker & Dunlop has arranged the $47 million sale of Westside Heights, a 282-unit multifamily community in West Midtown Atlanta. The asset was built in 2017 and is located near the Atlanta BeltLine. The property offers one- and two-bedroom floor plans and features community amenities such as a complimentary continental breakfast and coffee bar, swimming pool, clubhouse, fitness center, conference room, rooftop lounge and package receiving services. Pat Jones and Chris Goldsmith of Walker & Dunlop represented the buyer, Canadian-based Starlight U.S. Multi-Family, in the transaction. The seller was not disclosed. David Gahagan and Niki Perez, also with Walker & Dunlop, arranged acquisition financing through a life insurance company on behalf of the buyer.

April 15, 2019

Development Industrial Kentucky Southeast

Aeroterm Begins Construction on 50,400 SF Industrial Facility at CVG Airport in Northern Kentucky

by Alex Tostado April 15, 2019

HEBRON, KY. — Aeroterm, a developer and owner of airport cargo facilities, has broken ground on a 50,400-square-foot industrial facility at Cincinnati/Northern Kentucky International Airport (CVG) in Hebron. FedEx will be the anchor tenant for the asset, and there is 12,000 square feet of available space for one or two additional tenants. The LEED-certified building offers insulated, pre-cast concrete panels and will be used for airside cargo operations. The facility can accommodate cargo, government users and other terminal support users such as flight kitchens or commissaries. Aeroterm expects to deliver the facility in November.

April 15, 2019

Acquisitions Massachusetts Northeast Retail

SVN | Parsons Commercial Negotiates Sale of Two-Story Retail Strip in Acton, Massachusetts

by David Cohen April 15, 2019

ACTON, MASS. — SVN | Parsons Commercial has negotiated the sale of a two-story retail strip center in Acton. The sales price was undisclosed. Located at 452 Great Road, the property sits on nearly two acres of land. The buyer, Surfloft LLC, will occupy a portion of the building, which will be the new site for its retail store, Surfside Pools and Sport Loft Ski Shop. Marci Alvarado and Jake Parsons ofSVN | Parsons Commercial represented Surfloft LLC in the transaction. Avison Young represented the seller, Worker’s Credit Union.

April 15, 2019

Acquisitions Florida Retail Southeast

CBRE Negotiates Sale of 158,463 SF Shopping Center in South Florida

by Alex Tostado April 15, 2019

PEMBROKE PINES, FLA. — CBRE has negotiated the sale of Pembroke Place, a 158,463-square-foot shopping center in Pembroke Pines. Sedano’s grocery store, Crunch Fitness and Vargas University anchor the property, which is located 24 miles north of downtown Miami. Longpoint Realty Partners acquired the asset for an undisclosed price. Casey Rosen and Dennis Carson of CBRE represented the seller, an affiliate of Sterling Organization, in the transaction.

April 15, 2019

Acquisitions North Carolina Retail Southeast

Ziff Properties Sells 65,112 SF Retail Center in Charlotte

by Alex Tostado April 15, 2019

CHARLOTTE, N.C. — Ziff Properties has sold Terraces at University Place, a 65,112-square-foot shopping center in Charlotte’s University neighborhood. The asset was built in 2000 and was 97 percent occupied at the time of the sale to tenants including The Flying Saucer Draught Emporium, Que Onda Tacos, Iron Dish Korean BBQ, The Press Box Bar & Grill and Smoothie King. Tom Kolarczyk of HFF represented the seller in the transaction. LBX Investments acquired the property. Gregg Shapiro and Cory Fowler, also with HFF, arranged a 10-year, fixed-rate acquisition loan through TIAA Bank on behalf of the buyer. The sales price and loan amount were not disclosed.

April 15, 2019

Acquisitions Northeast Pennsylvania Retail

Marcus & Millichap Orchestrates $1M Sale of Net-Leased Retail Property in Pennsylvania

by David Cohen April 15, 2019

GREENSBURG, PA. — Marcus & Millichap has arranged the $1 million sale of a 2,160-square-foot net-leased retail property in Greensburg. Located at 800 E. Pittsburgh St., the property is occupied by KeyBank. Jeremie Johnson and Nathan D. Whalen of Marcus & Millichap’s Indianapolis office represented the seller, a private investor, in the transaction. The buyer was a local investor.

April 15, 2019

Acquisitions Illinois Midwest Office

Briar Meads Purchases 300,000 SF Office Property in Lisle, Illinois

by Kristin Harlow April 15, 2019

LISLE, ILL. — Briar Meads Capital LLC has purchased a 300,000-square-foot office property located at 2441 and 2443 Warrenville Road in Lisle. The purchase price was not disclosed. Briar Meads plans to rebrand the property as The Westwood and work with Wright Heerema Architects to update amenities. Plans call for upgrades and expansions to the café, fitness center, conference center, lounges and outdoor areas in addition to renovations of the lobby and common area spaces. The asset consists of two office towers built in 1991 and 1997. Currently, 157,426 square feet of space is available for lease. Dan Svachula, Michael Simpson, Adam Showalter and Allyson Yates of Cushman & Wakefield will market the property for lease. NAI Hiffman will manage the property.

April 15, 2019

Acquisitions Midwest Multifamily Nebraska

Investors Realty Brokers $9.2M Sale of Apartment Property in Lincoln, Nebraska

by Kristin Harlow April 15, 2019

LINCOLN, NEB. — Investors Realty Inc. has brokered the sale of Williamsburg Apartments in Lincoln for $9.2 million. The 11-building, 138-unit complex is located at 3400 Serenity Circle. The property was constructed between 1978 and 1984. John Heine and R.J. Neary of Investors as well as Todd Watson of Century Sales & Management LLC represented the seller. The buyer, a private investor, purchased the asset as part of a 1031 tax-deferred exchange.

April 15, 2019

Acquisitions Midwest Minnesota Retail

First Washington Realty Buys 78,313 SF Shopping Center in Eden Prairie, Minnesota

by Kristin Harlow April 15, 2019

EDEN PRAIRIE, MINN. — First Washington Realty has purchased Prairie Village shopping center in Eden Prairie for an undisclosed price. Specialty grocery store Kowalski’s anchors the 78,313-square-foot shopping center. Effective immediately, the asset will be rebranded as Eden Prairie Village shopping center. The property is 98.4 percent leased. This is First Washington Realty’s third property in the Twin Cities.

April 15, 2019

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