Property Type

JLL Secures $66.7M Construction Loan for Office Building in Manhattan

by David Cohen April 4, 2019

NEW YORK CITY — JLL has arranged a $66.7 million construction loan for a nine-story boutique office building in Manhattan. Located at 141 E. Houston St., the 63,000-square-foot property will include seven individual office floors ranging from 5,000 to 7,000 square feet, a 3,300-square-foot retail store at grade level, and two additional below-grade retail levels. Aaron Appel, Jonathan Schwartz, Michael Diaz, and Patrick Cotter of JLL secured the financing on behalf of the borrowers, East End Capital and K Property Group. The lender was CapitalSource, a division of Pacific Western Bank and Canyon Partners Real Estate LLC. Terms of the financing were not disclosed.

April 4, 2019

Acquisitions Connecticut Multifamily Northeast

Chozick Realty Orchestrates $7.5M Sale of Fractured Condominium Complex

by David Cohen April 4, 2019

HARTFORD, CONN. — Chozick Realty has arranged the $7.5 million sale of Wickham Garden, a fractured condominium in Hartford. Located at 1267 Burnside Ave., the 100-unit complex was built in the mid-1960s and declared a condominium in 1988. Only 10 units were sold at that time, leaving the property as a “fractured” condominium complex with 90 apartment units. Rick Chozick of Chozick Realty represented the seller in the transaction, who acquired the property in the mid-1990s. The buyer was North Point Management.

April 4, 2019

Acquisitions Massachusetts Multifamily Northeast

Marcus & Millichap Brokers $2.8M Sale of Apartment Building in Massachusetts

by David Cohen April 4, 2019

FRAMINGHAM, MASS. — Marcus & Millichap has brokered the $2.8 million sale of a 22-unit apartment building in downtown Framingham. Located at 139-143 Hollis St., the property is comprised of 12 two-bedroom units, nine one-bedroom units and one studio apartment. Evan Griffith, Tony Pepdjonovic and Jeremy Buckley of Marcus & Millichap’s Boston office represented the undisclosed seller in the transaction. The buyer was also undisclosed.

April 4, 2019

Acquisitions Mixed-Use New York Northeast

CBRE Negotiates $1.3M Sale of Mixed-Use Property in Brooklyn

by David Cohen April 4, 2019

NEW YORK CITY — CBRE has negotiated the $1.3 million sale of a mixed-use building in the Flatbush section of Brooklyn. Located at 2837 Church Ave., the 4,500-square-foot property is comprised of four apartments and a 1,500-square-foot, ground-floor retail space. The property was fully occupied at the time of sale. Elli Klapper, Charles Berger and Jay Gelbtuch of CBRE represented the undisclosed seller in the transaction. The buyer was also undisclosed.

April 4, 2019

Development Midwest Missouri Multifamily

Propper Construction Services Nears Completion of 265-Unit Luxury Apartment Complex in St. Peters, Missouri

by Kristin Harlow April 4, 2019

ST. PETERS, MO. — Propper Construction Services is nearing completion of 5300 Centre Apartments, a 265-unit luxury apartment complex in St. Peters, about 30 miles west of St. Louis. Slated to open this summer, the two-building property is situated at the intersection of Mexico Road and St. Peters Centre Boulevard near St. Peters City Centre Park. The buildings are connected by a covered bridge. Green space built on top of parking decks features community gardens, individual garden plots, outdoor gaming areas, grilling stations and recreational space. Other amenities include a pool, fitness center, yoga studio, dog park and pet salon. Monthly rental rates will range from $920 for studios to $2,555 for three-bedroom suites. Leasing is underway. Propper is the developer, while Zwick + Gandt Architecture is the architect and S.M. Wilson and Co. is the general contractor.

April 4, 2019

Acquisitions Industrial Midwest Wisconsin

Hillwood Acquires Two Logistics Facilities Totaling 338,000 SF in Wisconsin

by Kristin Harlow April 4, 2019

YORKVILLE, WIS. — Hillwood, a Perot company, has acquired two logistics facilities totaling 338,000 square feet as well as 58 acres of vacant land within Grandview Business Park in Yorkville. The purchase price was not disclosed. The two buildings are fully occupied by five tenants. Property features include clear heights of 30 feet and 145-foot truck courts. The vacant land can support up to 845,000 square feet of new construction. Grandview Business Park has convenient access to I-94 and is located within Racine County near the Illinois border.

April 4, 2019

Illinois Loans Midwest Multifamily

ASC Arranges $5.3M Bridge Loan for Multifamily Complex in Oak Forest, Illinois

by Kristin Harlow April 4, 2019

OAK FOREST, ILL. — American Street Capital (ASC) has arranged a $5.3 million bridge loan for a 72-unit multifamily complex in Oak Forest, about 24 miles south of Chicago. The garden-style property is comprised of two buildings and 98 parking spaces situated on 2.1 acres. Floor plans average 850 square feet. Igor Zhizhin of ASC arranged the 12-month, nonrecourse loan with an agency lender.

April 4, 2019

Acquisitions Industrial Midwest Ohio

Chase Properties Purchases 55,000 SF Industrial Building in Solon, Ohio

by Kristin Harlow April 4, 2019

SOLON, OHIO — Chase Properties has purchased a 55,000-square-foot cold storage warehouse and distribution center in Solon, about 20 miles southeast of Cleveland. The purchase price was not disclosed. The property, situated at 6575 Davis Industrial Parkway, is Chase Properties’ first industrial acquisition.

April 4, 2019

Acquisitions Midwest Ohio Retail

Marcus & Millichap Brokers $2.7M Sale of Net-Leased Walgreens Property in Ohio

by Kristin Harlow April 4, 2019

DELAWARE, OHIO — Marcus & Millichap has brokered the sale of a 14,490-square-foot property net leased to Walgreens for $2.7 million. The building is situated on 1.7 acres at 19 London Road in Delaware, about 30 miles north of Columbus. The property was built in 2001. Walgreens recently extended its lease through 2026. Dan Yozwiak of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. Brandon Hanna of Encore Real Estate Investment Services secured and represented the buyer, a private investor.

April 4, 2019

Development Retail Texas

Cinemark Opens 14-Screen Theater in McKinney, Texas

by Taylor Williams April 4, 2019

MCKINNEY, TEXAS — Cinemark Holdings Inc. (NYSE: CNK) has opened a 14-screen theater at the intersection of U.S. Highway 380 and Hardin Boulevard in the northern Dallas suburb of McKinney. The freestanding venue features wall-to-wall screens, oversized recliners with footrests, an arcade and a variety of food and beverage options. The theater is Cinemark’s 27th in the metroplex.

April 4, 2019

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