Property Type

NKF Capital Markets Brokers $96.5M Sale of Office Building in Needham, Massachusetts

by David Cohen August 1, 2018

NEEDHAM, MASS. — NKF Capital Markets has brokered the $96.5 million sale of a 247,542-square-foot office building in Needham. The property, located at 89 A Street, is approximately 12 miles southwest of Boston. The recently renovated building features a two-story lobby, two interior courtyards, a cafeteria and a fitness center. NKF Capital Markets represented the sellers, Normandy Real Estate Partners and Westbrook Partners, in the transaction. MetLife Investment Management purchased the property. The global headquarters of SharkNinja, a household cleaning and kitchen appliance company, anchors the building.

August 1, 2018

Acquisitions Multifamily New York Northeast

Dane Real Estate Negotiates $17M Sale of Two-Building Multifamily Portfolio in Harlem

by David Cohen August 1, 2018

NEW YORK CITY — Dane Real Estate has negotiated the $17 million sale of the Paul Robeson Houses, a two-building residential portfolio located in Central Harlem. The Paul Robeson Houses are comprised of two residential buildings with a total of 80 residential units. The buildings are both Section 8 properties. Dane Real Estate represented the undisclosed seller in the transaction. LIHC Investment Group purchased the portfolio.

August 1, 2018

Loans Massachusetts Northeast Retail

Fantini & Gorga Secures $10.2M Financing for Two Retail Properties Near Boston

by David Cohen August 1, 2018

LEXINGTON AND WALTHAM, MASS. — Fantini & Gorga has secured $10.2 million in permanent financing for two retail properties in Lexington and Waltham. The Lexington property was built in 2010 and is located at 46 Bedford St. It features 6,698 square feet of retail space, which is fully leased to a tenant roster including Qdoba and People’s United Bank. The property in Waltham was built in 2013 and is located at 1019 Trapelo Road. It features 9,442 square feet of retail space with a tenant roster that includes Starbucks and PhysiciansOne Urgent Care. Fantini & Gorga arranged the long-term, fixed-rate loan for a local real estate investor and developer through a regional financial institution.

August 1, 2018

Acquisitions Healthcare Northeast Pennsylvania

Geisinger Health Systems Acquires Mt. Pleasant Medical Center in Scranton for $6.4M

by David Cohen August 1, 2018

SCRANTON, PA. — Geisinger Health Systems has acquired the Mt. Pleasant Medical Center, a 30,750-square-foot medical office building in Scranton for $6.4 million. Geisinger purchased the property from a private partnership. Healthcare Real Estate Group, Marcus & Millichap and Hinerfeld Commercial RE represented both parties in the transaction. Located at 521 Mt. Pleasant Drive, the property was built in 2011 and is fully occupied by a tenant roster that includes Commonwealth Health Physician Network, LabCorp and Valley Oral & Maxillofacial Surgery PC.

August 1, 2018

Acquisitions New Jersey Northeast Office

HFF, Transwestern Arrange $5M Sale of Office Building in New Jersey

by David Cohen August 1, 2018

MORRISTOWN, N.J. — HFF and Transwestern have arranged the $5 million sale of a 20,000-square-foot office building in downtown Morristown. Located at 62 Elm St., the three-story building was built in 2006 and features a brick façade, flexible floorplates and 40 parking spaces. HFF and Transwestern represented the seller, Cornerstone Family Programs, in the transaction. A private buyer purchased the property.

August 1, 2018

Development Michigan Midwest Multifamily

Bedrock, Woodborn to Develop Mixed-Income Residential Development at Frederick Douglass Site in Detroit

by Kristin Harlow August 1, 2018

DETROIT — The Detroit City Council has approved a development agreement for Bedrock and Woodborn Partners to develop a mixed-income residential development on the former Frederick Douglass public housing site. The 22-acre property has been vacant since public housing structures were demolished in 2014. Bedrock has selected architectural firm Rossetti to create the master plan for the $300 million project. The proposed neighborhood will consist of 913 housing units for rent and for sale, spread across six residential styles including townhomes, carriage homes, duplettes, flats, walk-ups and apartments. Other plans call for more than three acres of open parks and courtyard space, 19,000 square feet of retail space, more than 1,100 parking spaces, an early childhood education center and a 80-room hotel. Affordable housing developer Jonathan Rose Cos. will advise on the development of the affordable housing component of the project. Approximately 25 percent of the rental units will be designated as affordable. Proceeds from the $23 million sale of the site will enable the Detroit Housing Commission to invest in preservation and renovation of other affordable housing units throughout the city. Over the next several years, Bedrock plans to develop up to 3,500 residential rental units in Detroit. The developer’s …

August 1, 2018

Illinois Loans Midwest Office

Ready Capital Provides $7.9M Refinancing for Office Property in Chicago

by Kristin Harlow August 1, 2018

CHICAGO — Ready Capital Structured Finance has provided a $7.9 million loan for the refinancing of a 38,000-square-foot office property in Chicago. The building, located on West Carroll Avenue in the Fulton Market neighborhood, was repositioned from an industrial warehouse into an office property. The non-recourse, floating-rate loan features a 36-month term. The borrower was not disclosed.

August 1, 2018

Acquisitions Illinois Midwest Retail

Essex Brokers $7.5M Sale of Walgreens Property in Aurora, Illinois

by Kristin Harlow August 1, 2018

AURORA, ILL. — Essex Realty Group Inc. has brokered the sale of a single-tenant retail property occupied by Walgreens in Aurora for $7.5 million. The property is located at 1180 Farnsworth Ave. Walgreens has approximately 12 years left on its initial lease term. Steven Livaditis and Joe Scheck of Essex represented the buyer, CIMA Investors LLC, in the transaction. The seller was not disclosed.

August 1, 2018

Acquisitions Illinois Midwest Retail

Love’s Travel Stops Purchases 13-Acre Site in Atkinson, Illinois

by Kristin Harlow August 1, 2018

ATKINSON, ILL. — Love’s Travel Stops has purchased a 13-acre site at the northwest corner of I-88 and South State Street in Atkinson in northwestern Illinois. The purchase price was not disclosed. Love’s plans to open a location at the property in 2019. Dave Schmidt and Linda Kost of Realty Metrix Commercial represented Love’s in the transaction. JMP Atkinson Petroleum Inc. was the seller.

August 1, 2018

Acquisitions Hospitality Iowa Midwest

Marcus & Millichap Arranges Sale of 60-Room Hotel in Iowa

by Kristin Harlow August 1, 2018

MASON CITY, IOWA — Marcus & Millichap has arranged the sale of the Quality Inn & Suites in Mason City in northern Iowa for an undisclosed price. The 60-room hotel is located at 410 5th St SW. Jake Erickson of Marcus & Millichap brokered the transaction with assistance from Barry A’Hearn. Neither the buyer nor the seller were disclosed.

August 1, 2018

Newer Posts

Older Posts