Property Type

Lee & Associates Brokers $18.4M Sale of Office Condominium in Midtown Manhattan

by David Cohen June 13, 2018

NEW YORK CITY — Lee & Associates has brokered the $18.4 million sale of an 18,000-rentable-square-foot, 14th floor office condominium at 420 Fifth Ave. in Midtown Manhattan. Lee & Associates represented the buyer, Marist College, and the seller, A.M. Property Holding Corp., in the transaction. The space will serve as an alumni information center for Marist College in New York City. The private, liberal arts college is located in Poughkeepsie. The 28-story office building was completed in 1989 and is located near Bryant Park. Marist College will take occupancy of the space in December 2018.

June 13, 2018

Connecticut Healthcare Loans Northeast Office

Associated Bank Provides $27.7M Loan for VA Community Care Center in Orange, Connecticut

by David Cohen June 13, 2018

ORANGE, CONN. — Associated Bank has provided a $27.7 million construction loan to Orange VA LLC for a 56,000-square-foot office building in Orange. The building, which will be located at 200 Edison Road, will house a Veterans Administration Community Care Center. Completion is slated for mid-2019. Services at the center will include primary care, team vocational services, health psychology and peer support services. Brian P. Rogan of the Commercial Real Estate division of Associated Bank originated the loan.

June 13, 2018

Leasing Activity New York Northeast Retail

CoverGirl to Open Flagship Store in Times Square

by David Cohen June 13, 2018

NEW YORK CITY — CoverGirl will open its first-ever brick-and-mortar store in New York City’s Times Square this fall. The 10,000-square-foot flagship location will feature an experiential beauty “play room” with interactive elements, full-service makeup application, on-the-go services and digital experiences. The retail store will be an experiential interpretation of CoverGirl’s new campaign, “I Am What I Make Up,” which it released at the beginning of this year. CoverGirl, a Coty Inc. brand, will be the first mass legacy beauty brand to launch a flagship store in North America, according to a release from the company.

June 13, 2018

Acquisitions Mixed-Use New York Northeast

Marcus & Millichap Arranges $8M Sale of Mixed-Use Building in Brooklyn

by David Cohen June 13, 2018

NEW YORK CITY — Marcus & Millichap has arranged the $8 million sale of 162-164 Court St., an 8,875-square-foot mixed-use building in the Cobble Hill neighborhood of Brooklyn. The sales price represents a capitalization rate of 3.87 percent. Jakub H. Nowak, Matthew Rosenzweig, and Jesse Kay of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was undisclosed. The property has 50 feet of frontage on Court Street’s retail corridor.

June 13, 2018

Westgate-Entertainment-District-Glendale-AZ

Acquisitions Arizona Mixed-Use Multifamily Office Restaurant Retail Western

CBRE Negotiates Sale of 533,116 SF Entertainment District in Metro Phoenix for $133M

by Amy Works June 13, 2018

GLENDALE, ARIZ. — CBRE has arranged the sale of Westgate Entertainment District, a mixed-use development located near Loop 101 and Glendale Avenue in Glendale. YAM Westgate, a venture formed by Scottsdale-based YAM Properties, purchased the 46.6-acre entertainment, retail and office destination, including 30 acres of undeveloped land, from The New Westgate LLC, formed by iStar Properties. The price was $133 million. Philip Voorhees, Jimmy Slusher, Kirk Brummer, Sean Heitzler, Jesse Goldsmith, Steve Julius and Bryan Taute of CBRE represented the seller and buyer in the deal. Opened in 2016, the Westgate Entertainment District features more than 40 retailers and restaurants, including a 20-screen AMC Theatre, Dave & Busters and Yard House. Additionally, the property offers 159,026 square feet of Class A office space, as well as 76 multifamily lofts located on the upper floors.

June 13, 2018

Acquisitions California Multifamily Western

Pacific Urban Residential Buys 314-Unit Multifamily Community in Vista, California

by Amy Works June 13, 2018

VISTA, CALIF. — Pacific Urban Residential has acquired Monarch at Shadowridge, an institutional-quality residential community in Vista, for an undisclosed price. Built in 2005, Monarch at Shadowridge features 314 apartments spread across 29 buildings, a clubhouse and a saltwater pool on more than 21 acres. On-site amenities include a 19-seat movie theatre, outdoor barbecue areas, private cabanas, a community kitchen and dining room, coffee lounge, game room, fitness center and yoga room. Darcy Miramontes, Kip Malo, David Young, Jeff Price and John Cunningham of JLL represented the undisclosed seller in the deal.

June 13, 2018

501-Deep-Valley-Dr-Palos-Verdes-Peninsula-CA

Acquisitions California Healthcare Office Western

NKF Capital Markets Brokers $12.7M Sale of Medical Office Building in Metro Los Angeles

by Amy Works June 13, 2018

PALOS VERDES PENINSULA, CALIF. — NKF Capital Markets has facilitated the sale of a medical office building located at 501 Deep Valley Drive in Palos Verdes Peninsula, a city within the South Bay submarket of Los Angeles County. Deep Valley Drive LLC sold the property to Beverly Hills, Calif.-based Dayani Partners for $12.7 million. UCLA Health occupies 77 percent of the four-story, 33,770-square-foot building. Sean Fulp, Ken White, Michael Moore and Kevin Shannon of NKF Capital Markets represented the seller, while the buyer was self-represented in the transaction.

June 13, 2018

Acquisitions California Office Western

Hunter Street Partners, Mana Investments Purchase 78,747 SF Vacant Office Complex in California

by Amy Works June 13, 2018

LIVERMORE, CALIF. — Minneapolis-based Hunter Street Partners, in partnership with California-based Mana Investments, has completed the acquisition of Sunset Office Plaza in Livermore for an undisclosed price. Situated on 13.5 acres, the asset features 10 single-story office buildings totaling 78,747 square feet of office space. The property was vacant at the time of acquisition. The name of the seller was not released.

June 13, 2018

Acquisitions Arizona Office Western

Biltmore RE Acquires Office Building in Phoenix for $3.1M

by Amy Works June 13, 2018

PHOENIX — Biltmore RE, a net-leased investment group, has purchased an office building located at 2701 E. Camelback Road in Phoenix, for $3.1 million. The sale was an absolute triple-net leaseback to the seller, Arciterra Cos., a real estate investment and development company. The property features 8,501 square feet of Class A office space. Jenette Bennett of Kidder Mathews represented the buyer in the transaction.

June 13, 2018

Florida Loans Multifamily Southeast

HFF Arranges $53.2M Construction Financing for Multifamily Community in Miami’s Wynwood Neighborhood

by Camren Skelton June 13, 2018

MIAMI — HFF has arranged $53.2 million in construction financing for The Bradley, a 175-unit apartment community located at 51 N.W. 26th St. in Miami’s Wynwood neighborhood. Scott Wadler and Jesse Wright of HFF secured a $33.2 million construction loan from Santander Bank and $20 million in preferred equity from Greenstreet Real Estate Partners LP on behalf of the developer, a joint venture between The Related Group and Block Capital Group. Designed by Kravitz Design, The Bradley will include a mix of one- to three-bedroom floor plans ranging from 480 to 1,000 square feet. The project will also feature 32,000 square feet of ground-floor retail. A construction timeline was not disclosed.

June 13, 2018

Newer Posts

Older Posts

Upcoming Events

Aug
18