Property Type

EB Capital Buys 77,736 SF Industrial Building in Southern California for $14M

by Amy Works May 14, 2019

VISTA, CALIF. — EB Capital LLC has purchased an industrial building, located at 1125 Joshua Way in Vista, from BRE 1125 Joshua Owner LLC for $14 million. Situated on 4.75 acres, the asset features 77,736 square feet of industrial space and 16,780 square feet of highly improved, high-end, two-story office area. At the time of sale, 21,359 square feet of the building was leased. The buyer intends to occupy the remaining 56,377 square feet. Rusty Williams and Chris Roth of Lee & Associates, North San Diego County, represented the buyer, while Barry Hendler and Aric Starck of Cushman & Wakefield represented the seller in the deal.

May 14, 2019

Illinois Loans Midwest Office

JLL Arranges $84M Refinancing for New Office Building in Chicago’s Fulton Market

by Kristin Harlow May 14, 2019

CHICAGO — JLL Capital Markets has arranged an $84 million loan for the refinancing of 210 N. Carpenter, a new 12-story office building in Chicago’s Fulton Market district. Keith Largay, Brian Walsh and Patrick Healy of JLL arranged the financing on behalf of the borrower, Sterling Bay and institutional investors advised by J.P. Morgan Asset Management. Bank of America provided the loan. Sterling Bay developed the 206,000-square-foot property and Solomon Cordwell Buenz led the design. Leopardo, one of the building’s first tenants, completed construction of the building earlier this year. Google will begin moving workers to the property this fall. Amenities at the building include a rooftop lap pool, tenant lounge, gaming area, fitness center, yoga room and conference facilities.

May 14, 2019

Acquisitions Illinois Industrial Midwest Office

Value Industrial Partners Acquires 14-Building Industrial, Office Property in West Chicago

by Kristin Harlow May 14, 2019

WEST CHICAGO, ILL. — Value Industrial Partners has acquired Bowling Green Center, a 14-building office and industrial property in West Chicago. The purchase price was not disclosed. Located at 245 W. Roosevelt Road, the asset spans 274,000 square feet. The property was 90 percent leased at the time of acquisition. Value Industrial plans to complete significant improvements, including new roofs, paving, landscaping and signage. The center will be renamed Roosevelt Center. Jeff Girling of Paine/Wetzel represented Value Industrial in the transaction. The seller was not disclosed.

May 14, 2019

Leasing Activity Midwest Ohio Retail

Bonobos to Open at Mixed-Use Development in Columbus, Ohio

by Kristin Harlow May 14, 2019

COLUMBUS, OHIO — Bonobos has signed a new lease to occupy 1,500 square feet at a mixed-use development in Columbus. The Pizzuti Companies is the developer for the property, which is located in the Short North Arts District. Founded in 2007 as an online-only retailer for men’s clothing, Bonobos began opening brick-and-mortar locations in 2012. This is the company’s first location in Columbus and third in Ohio. Bonobos will join office tenant Industrious at the four-story building. Industrious, a coworking space provider, will occupy 30,000 square feet on the third and fourth floors. The property is slated to open in July.

May 14, 2019

Industrial Leasing Activity Midwest Ohio

Benchmark Industrial Signs 52,500 SF Headquarters Lease in Gahanna, Ohio

by Kristin Harlow May 14, 2019

GAHANNA, OHIO — Benchmark Industrial Inc. has signed a 52,500-square-foot headquarters lease at the Central Park of Gahanna, a 262,500-square-foot speculative warehouse currently under construction. Eric Shea of Newmark Knight Frank brokered the lease transaction on behalf of the property’s developer, Trevi Enterprises. Set for completion in September, the property will feature a clear height of 32 feet, 25 dock doors, five drive-in doors and ESFR sprinklers. Benchmark is a distributor of shipping and industrial packaging products, warehouse supplies, safety supplies and janitorial supplies.

May 14, 2019

Acquisitions Midwest Office Ohio

Historic Office Property Trades Hands in Downtown Columbus

by Kristin Harlow May 14, 2019

COLUMBUS, OHIO — CBRE has arranged the sale of a historic office building occupied by Carlile Patchen & Murphy LLP in downtown Columbus. The sales price was not disclosed. The new owner, 366 E. Broad LLC, plans to renovate the building, which is located at 366 E. Broad St. The three-story property, built in 1926, was designed by Richards, McCarty and Bulford and originally owned by the Ohio State Life Insurance Co. CPM Investments, an affiliate of Carlile Patchen & Murphy LLP, purchased the 29,672-square-foot building in 1986. Carlile Patchen & Murphy LLP plans to relocate to 950 Goodale Blvd. in the Grandview Yard development in spring 2020. David Hartsook of CBRE represented the seller. Todd Schiff of Robert Weiler Co. represented the buyer.

May 14, 2019

Development Multifamily Northeast Pennsylvania Seniors Housing

Presbyterian to Build $19M Senior Living Community in Lancaster, Pennsylvania

by Taylor Williams May 14, 2019

LANCASTER, PA. — Presbyterian Senior Living (PSL) will build LongCrest, a $19 million affordable seniors housing apartment complex in Lancaster, located roughly midway between Philadelphia and Harrisburg. A groundbreaking ceremony for the four-acre, 52-unit project is slated for today (Tuesday, May 14). Units will be available to residents earning between 20 to 60 percent of the area median income. LongCrest will also offer both fully handicap-accessible units, as well as units that are accessible for individuals with hearing and/or vision difficulties.

May 14, 2019

Development Multifamily New Hampshire Northeast

WinnCompanies Completes $18.7M Multifamily Rehabilitation Project in Lynn, Massachusetts

by Taylor Williams May 14, 2019

LYNN, MASS. — Multifamily development and management firm WinnCompanies has completed the $18.7 million rehabilitation of Cobbet Hill, an affordable housing community located in the northern Boston suburb of Lynn. The 18-month project upgraded the interior features of 117 units, created new common areas and amenity spaces and modernized the property’s security and utility systems. The building was originally constructed in the 1930s as a public school and converted to a residential use in 1988.

May 14, 2019

Village-at-Cedar-Heights-Mansfield-Massachusetts

Acquisitions Massachusetts Multifamily Northeast

Colliers Brokers $15M Sale of Apartment Community in Mansfield, Massachusetts

by Taylor Williams May 14, 2019

MANSFIELD, MASS. — Colliers International has brokered the $15 million sale of Village at Cedar Heights, a 66-unit apartment community in Mansfield, located south of Boston. Bruce Lusa, Jonathan Bryant, John Flaherty and Maggie Collins of Colliers represented the seller and developer, Turner Brothers, in the transaction. The buyer, Manhattan-based Corigin Real Estate Group, will implement a value-add program.

May 14, 2019

Industrial Loans New York Northeast Self-Storage

Cronheim Mortgage Secures $7M Loan for Self-Storage Facility in Nanuet, New York

by Taylor Williams May 14, 2019

NANUET, N.Y. — Cronheim Mortgage has secured $7 million in financing for a 51,815-square-foot self-storage facility in Nanuet, about 30 miles north of Manhattan. Self-storage REIT CubeSmart operates the facility, which was built in 1980 as a retail property and converted into self-storage in 2015. An undisclosed New Jersey bank provided the loan, which included a 4.74 percent interest rate, six months of interest-only payments and a 30-year amortization schedule. The borrower and owner of the facility is self-storage developer DealPoint Merrill. The facility has 685 climate-controlled units and was 83 percent occupied at the time of sale.

May 14, 2019

Newer Posts

Older Posts