Property Type

Middleburg to Deliver 316-Unit Apartment Community Near Savannah

by Camren Skelton May 10, 2018

POOLER, GA. — Virginia-based Middleburg has unveiled plans to develop Mosby Lakeside, a 316-unit apartment community located near the intersection of Pooler Parkway and Interstate 16 in Pooler, roughly 10 miles west of Savannah. The community will feature a mix of one-, two- and three-bedroom units ranging from 748 square feet to 1,405 square feet. Units will feature stainless steel appliances, granite countertops, patios and balconies, Nest thermostats, wood plank flooring in living areas and nine-foot ceilings. Community amenities will include a clubhouse, fitness center with yoga studio, outdoor fire pit and kitchen, saltwater pool, dog parks and pet spa, community garden, boat house and a hammock garden. Humphreys & Partners Architects LP is the architect of record for the project, DEI is providing interior design services and Thomas & Hutton is the landscape architect and civil engineer. Middleburg plans to break ground on Mosby Lakeside this fall and begin leasing the community in spring 2019.

May 10, 2018

Acquisitions California Office Western

Cruzan, Cigna Investment Management Acquire 106,890 SF Office Building in Beverly Hills

by Amy Works May 10, 2018

BEVERLY HILLS, CALIF. — A joint venture between Cruzan and Cigna Investment Management has purchased an office building located at 9171 Wilshire Drive in Beverly Hills. An undisclosed seller sold the property for $69.2 million. At the time of sale, the six-story, 106,890-square-foot building was 83 percent occupied. Current tenants include Avalon Holdings, Kaplan Perrone Entertainment and Mejia & Kaplan. The buyer plans to renovate the building. Andrew Harper, Matthew Fisher and Ryan Gallagher of HFF represented the seller and procured the buyer in the deal. Additionally, Paul Brindley, Todd Sugimoto, Steven Paskover and Ryan Ashe, also of HFF, arranged a $51.5 million acquisition loan through Mesa West Capital for the buyer.

May 10, 2018

Loans Retail Washington Western

KeyBank Originates $25.9M in Financing for Retail Center in Marysville, Washington

by Amy Works May 10, 2018

MARYSVILLE, WASH. — KeyBank Real Estate Capital has originated $25.9 million in CMBS first-mortgage financing for The Marketplace at Smokey Point, located at 2615 172nd St. in Marysville. Completed in 2016, the 185,352-square-foot retail center comprises 10 single-story buildings. Hobby Lobby, Dick’s Sporting Goods, Ulta Beauty, Party City, Tuesday Morning and Fitness Evolution are current tenants at the 19-tenant property. Josh Berde of Key’s Commercial Mortgage Group arranged the non-recourse, fixed-rate financing with a 10-year term and 30-year amortization schedule. The undisclosed borrower will use loan proceeds to refinance existing debt.

May 10, 2018

Arizona Development Multifamily Seniors Housing Western

Ryan Cos., Cadence Senior Living Start Construction of 170-Unit Project in Arizona

by Amy Works May 10, 2018

MESA, ARIZ. — Ryan Cos. and Cadence Senior Living have unveiled plans for Azure Mesa, a 170-unit independent living, assisted living and memory care community in Mesa, a suburb of Phoenix. The upscale, 183,000-square-foot property will feature 142 units that may be used for independent living or assisted living, plus 28 units devoted to memory care. Construction is already underway, with a planned delivery of summer 2019. HFF worked on behalf of Cadence and Ryan to arrange a joint venture equity partnership with an undisclosed institutional partner. Azure Mesa is located on an eight-acre site adjacent to Granite Reef Park, close to restaurants, retail, recreation and medical services. Ryan A+E is designing the community, while Studio SIX5 is designing the interiors. The Cadence-Ryan team is working on a second Azure location in North Scottsdale, which recently received Scottsdale City Council approval. Ryan Companies currently has over 600,000 square feet of senior living projects under construction in Arizona and nationally has completed over 4 million square feet of senior living communities. Cadence Senior Living has over 30 years of seniors housing development and management experience.

May 10, 2018

Acquisitions Arizona Industrial Self-Storage Western

NAI Horizon Negotiates $10.8M Sale of Self-Storage Facility in Metro Phoenix

by Amy Works May 10, 2018

BUCKEYE, ARIZ. — NAI Horizon has arranged the sale of a self-storage facility, located at 24901 W. Yuma Road in Buckeye, a western suburb of Phoenix. A California-based buyer acquired the property from Storage American DBA Store-All America RV and Self-Storage for $10.8 million, or $100.39 per square foot. Situated on 9.1 acres, the 107,130-square-foot facility features 638 drive-up self-storage units and 240 outdoor RV parking spaces. Additionally, the sale included a U-Haul moving truck business. Denise Nunez of NAI Horizon represented the buyer and seller in the transaction.

May 10, 2018

Acquisitions California Restaurant Retail Western

Faris Lee Brokers $3.8M Acquisition of Two-Tenant Restaurant Building in Los Banos, California

by Amy Works May 10, 2018

LOS BANOS, CALIF. — Faris Lee Investments has arranged the purchase of a two-tenant restaurant building located at 1335 W. Pacheco Ave. in Los Banos. LFG Los Banos LLC sold the property to a to a Newport Beach-based private investor. Shaun Riley of Faris Lee represented the buyer, while John Andreini of Capital Pacific represented the seller in the deal. Built in 2017, the 5,500-square-foot property includes one drive-thru and 39 parking spaces. The building is fully occupied by Blaze Pizza and Habit Burger, both quick-serve restaurants.

May 10, 2018

Acquisitions Hospitality Midwest Ohio

MCR Acquires 84-Room Hilton Garden Inn Near Cincinnati

by Kristin Harlow May 10, 2018

LOVELAND, OHIO — MCR has acquired the 84-room Hilton Garden Inn Cincinnati Northeast in Loveland, about 20 miles northeast of Cincinnati. The purchase price was not disclosed. Located near I-275, the hotel features free Wi-Fi, a fitness center, indoor pool, business center, restaurant, convenience store and two meeting rooms. MCR will also manage the property.

May 10, 2018

Loans Midwest Multifamily Nebraska Office

NorthMarq Arranges $10.3M in Financing for Three Nebraska Properties

by Kristin Harlow May 10, 2018

PAPILLION AND FREEMONT, NEB. — NorthMarq Capital has arranged three separate loans totaling $10.3 million for three properties in Nebraska. Steve Ruff of NorthMarq arranged a $1.1 million loan for the refinancing of a 10,760-square-foot office property located at 1716 Charleston Drive in Papillion. A life insurance company provided the 15-year loan, which is fully amortized. Bob Chalupa arranged a $5.6 million acquisition loan for Deerfield Clubhouse Apartments in Freemont. The 122-unit apartment property is located at 1021 S. Howard Road. A life insurance company provided the 10-year loan, which features a 25-year amortization schedule. Chalupa also arranged a $3.5 million loan for the acquisition of Conestoga Crossing Apartments in Freemont. The 96-unit apartment property is located at 740-842 N. Michael St. A life insurance company provided the 10-year loan, which features a 25-year amortization schedule. Borrowers were not disclosed.

May 10, 2018

Illinois Industrial Leasing Activity Midwest

Apex Signs 107,600 SF Industrial Lease in Aurora, Illinois

by Kristin Harlow May 10, 2018

AURORA, ILL. — Apex Warehouse Systems LLC has signed a 107,600-square-foot industrial lease at 631 W. Park Ave. in Aurora. The warehouse will serve as additional storage space for the materials handling and storage equipment company. The 342,268-square-foot building features outdoor storage space, 10 exterior docks, 10 drive-in doors and seven cranes. The property includes easy access to I-88. Richard Daly of Darwin Realty represented the tenant in the lease transaction. Joe Karmin and Justin Lerner of Transwestern represented the owner, Transbulk Real Estate LP.

May 10, 2018

Illinois Industrial Leasing Activity Midwest

TEI Logistics Inks 78,700 SF Warehouse Lease in Mount Prospect, Illinois

by Kristin Harlow May 10, 2018

MOUNT PROSPECT, ILL. — TEI Logistics LLC has signed a 78,700-square-foot warehouse lease in Mount Prospect, about 22 miles northwest of Chicago. The 237,350-square-foot property, located at 1400 Algonquin Road, features 12 exterior docks, one drive-in door and 8,000 square feet of office space. The El Paso, Texas-based company will relocate from its 61,780-square-foot location in Wood Dale in June. Tom Rodeno and Matthew Stauber of Colliers International represented the landlord, Clarion Partners. Christopher Nelson of Lee & Associates represented TEI.

May 10, 2018

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