Property Type

Construction Underway for 153-Unit Apartment Project in Skokie, Illinois

by Kristin Harlow November 1, 2018

SKOKIE, ILL. — W.E. O’Neil Construction is underway on the construction of 8000 North, a 153-unit apartment project in Skokie. The 12-story, 318,000-square-foot property will include 15,000 square feet of retail space as well as a top-floor amenity space and rooftop garden. Units will range in size from 535 square feet for studios to 1,614 square feet for penthouse units. Monthly rents are projected to start at $1,400. The development team, including architect Lucien Lagrange Studio, worked with the village of Skokie to utilize $5.9 million in tax-increment financing for environmental remediation and site preparation of the property. The first residents are expected to move into the property by December 2019.

November 1, 2018

Acquisitions Midwest Ohio Retail

PEBB Enterprises Purchases 93,743 SF Shopping Center in Gahanna, Ohio

by Kristin Harlow November 1, 2018

GAHANNA, OHIO — PEBB Enterprises has purchased Hunter’s Ridge, a 93,743-square-foot shopping center in Gahanna, an eastern suburb of Columbus. The purchase price was not disclosed. The property is located at the intersection of South Hamilton and Morrison roads. Kroger and Planet Fitness anchor the center. Other tenants include restaurants, a beauty salon, dance studio and medical office. PEBB now owns and operates four shopping centers in Ohio.

November 1, 2018

Leasing Activity Midwest Retail Wisconsin

Altitude Trampoline Park to Open in Appleton, Wisconsin

by Kristin Harlow November 1, 2018

APPLETON, WIS. — Altitude Trampoline Park has signed a 33,247-square-foot lease to open its first Wisconsin facility in Appleton. The property is located at 4914 Integrity Way. The indoor trampoline park will include a ropes course, ninja course, rock wall, extreme dodge ball, zip lines and foam pits. John Day of The Woodmont Company and Patrick Owens of Transwestern represented the tenant in the lease transaction. Mark Pucci and Adam Figurin of Colliers International represented the landlord, Alliance Development.

November 1, 2018

Loans Midwest Minnesota Multifamily Seniors Housing

Dougherty Provides $9.3M Refinancing for Senior Living Property in Faribault, Minnesota

by Kristin Harlow November 1, 2018

FARIBAULT, MINN. — Dougherty Mortgage has provided a $9.3 million Fannie Mae loan for the refinancing of Faribault Senior Living. The 90-unit senior living property is located in Faribault, about 50 miles south of Minneapolis. Built in 2011, the four-story property includes independent living, assisted living and memory care units. Property amenities include an outdoor patio with resident gardens, a hair salon, fitness room, game room, activity room, library, dining hall and lounge areas. The 12-year loan is amortized over 30 years. Faribault Senior Living LLC was the borrower.

November 1, 2018

Acquisitions Industrial Midwest Minnesota

Summerhill Arranges $8M Sale of Warehouse in Oakdale, Minnesota

by Kristin Harlow November 1, 2018

OAKDALE, MINN. — Summerhill Commercial Real Estate LLC has arranged the $8 million sale of a 109,444-square-foot warehouse in Oakdale, about 20 miles east of Minneapolis. Built in 1998, the property features a clear height of 24 feet, 13 dock doors and one drive-in door. RR Donnelly and Sky Zone fully occupy the property on net leases. Andy Richards and Peter Kordonowyof Summerhill represented the buyer, STAG Industrial Holdings LLC. Mark Young and John Higgins of Crossroads Properties Inc. represented the undisclosed seller.

November 1, 2018

Acquisitions Multifamily Oregon Western

Watt Cos. Acquires 240-Unit Sygnii Apartment Community in Metro Portland for $75.2M

by Amy Works November 1, 2018

TIGARD, ORE. — Los Angeles-based Watt Cos. has purchased Sygnii, a multifamily property located at 13285 SW Hawks Beard St. in Tigard, a suburb of Portland. Vancouver, Wash.-based Holland Partner Group sold the property for $75.2 million. Built in 2017, the property features 240 units in a mix of one-, two- and three-bedroom layouts. The property offers parking for 409 vehicles in 74 garages, 99 carport stalls and 236 surface spaces. Mark Washington, David Young and Corey Marx of JLL represented the seller, which developed the property.

November 1, 2018

Loans Multifamily Southeast Tennessee

Dougherty Mortgage Provides $27M Green Fannie Mae Loan for Multifamily Acquisition in Chattanooga

by Amy Works November 1, 2018

CHATTANOOGA, TENN. — Dougherty Mortgage has closed a $27 million Fannie Mae loan for the acquisition of Elements of Chattanooga, a market-rate multifamily property located at 7310 Standifer Gap Road in Chattanooga. Bentley Place Residential is the borrower. The property features 340 units in a mix of one-, two- and three-bedroom layouts, and community amenities include a fire pit, outdoor kitchen, pool, clubhouse and fitness center. Dougherty Mortgage’s Brentwood, Tenn., office originated the 12-year loan, which utilizes Green Rewards and features a 30-year amortization schedule.

November 1, 2018

Acquisitions Georgia Retail Southeast

Mimms Enterprises Sells Two Shopping Centers in Metro Atlanta to Jamestown

by Amy Works November 1, 2018

SANDY SPRINGS, GA. — Mimms Enterprises has sold two adjacent shopping centers totaling 334,787 square feet in Sandy Springs, a suburb of Atlanta. Jamestown purchased the portfolio free and clear of existing debt for an undisclosed price. The portfolio includes The Exchange at Hammond, located at 5930-5992 Roswell Road. The 176,376-square-foot property is fully leased to tenants including Whole Foods Market, Marshalls, Office Depot, Petco and Dollar Tree. The other asset is Parkside Shops, located at 5920 Roswell Road. The 158,411-square-foot shopping center is leased to tenants including The Cinema Springs & Taphouse, Battle and Brew, Tuesday Morning, Jump Start Gym, Chipotle Mexican Grill, Egg Harbor Café, Subway and il Giallo Osteria & Bar. Jim Hamilton, Brad Buchanan, Michael Allison and Shea Patrick of HFF represented Mimms in the deal.

November 1, 2018

California Loans Retail Western

CBRE Secures $20M Acquisition Loan for Jamboree Promenade Shopping Center in Irvine

by Amy Works November 1, 2018

IRVINE, CALIF. — CBRE has arranged a $20 million refinancing for Jamboree Promenade, a shopping center located at 2626-2646 Dupont Drive in Irvine. Pole Capital USA, the U.S. division of a Singaporean real estate investment company, is the borrower. The property was purchased earlier this year for $42.5 million in all cash, and the debt financing will recapitalize the site. The 56,878-square-foot shopping center is 97 percent occupied by tenants including CorePower Yoga, The Melting Pot and Daily Grill. Shaun Moothart, Bruce Francis, Dana Summers, Bob Ybarra and Doug Birrell of CBRE’s Debt and Structured Finance team arranged the seven-year loan for the borrower.

November 1, 2018

Acquisitions California Office Western

Dunhill Partners West Acquires 89,457 SF Office Property in Novato, California

by Amy Works November 1, 2018

NOVATO, CALIF. — A buying group led by Mark Hutchinson and Doug Twillman of San Francisco-based Dunhill Partners West has purchased Woodside Office Center, a suburban office property in the Marin enclave of Novato. A joint venture between Artemis Real Estate Partners and Ellis Partners sold the property for an undisclosed price. Whitney Strotz and Steven Leonard of Cushman & Wakefield, in collaboration with Michel Seifer, Rob Hielscher, Kristina Wollan and Erik Hanson of JLL, represented the seller in the deal. Located at 7250 Redwood Blvd., the three-story, 89,457-square-foot property was 92 percent leased at the time of sale.

November 1, 2018

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