Property Type

CBRE/NE Negotiates Sale of 288-Unit Apartment Community in Cumberland, Rhode Island

by Amy Works June 30, 2017

CUMBERLAND, R.I. — CBRE/New England has arranged the sale of Cumberland Crossing, a garden-style apartment community located at 100 Crossing Drive in Cumberland. An affiliate of Jones Street Investment Partners acquired the 288-unit property for an undisclosed price. Completed in 2001, the 12-building community features 84 one-bedroom units, 204 two-bedroom units and a clubhouse. Simon Butler and Biria St. John of CBRE/New England represented the undisclosed seller and procured the buyer in the deal.

June 30, 2017

Multifamily New York Northeast

Alpha Realty Brokers Sales of Two Apartment Buildings in Brooklyn Totaling $7M

by Amy Works June 30, 2017

NEW YORK CITY — Alpha Realty has arranged the sales of two separate apartment buildings in the East Flatbush Section of Brooklyn. A private local investor acquired a 12,800-square-foot, 16-unit apartment building at 5601 Snyder Ave. for $3 million. A different private investor purchased a 21,000-square-foot, 26-unit apartment building at 545-555 E. 82nd St. for $4 million. Lev Mavashev of Alpha Realty represented the buyers and seller, Up Realty, in the off-market transaction.

June 30, 2017

Connecticut Multifamily Northeast

CCP Real Estate Partners Sells 32-Unit Apartment Property in New Haven, Connecticut for $3.1M

by Amy Works June 30, 2017

NEW HAVEN, CONN. — CCP Real Estate Partner has completed the disposition of Georgetown Apartments, a 32-unit multifamily property located at 241 Quinnipiac Ave. in New Haven. New York-based Loggerhead Investment Group acquired the community for $3.1 million. The property features 16 two-bedroom flats and 16 two-bedroom townhouse units with parking. Bradley Balletto and Mallory Chila of Northeast Private Client Group represented the seller and sourced the buyer in the transaction.

June 30, 2017

Northeast Office Rhode Island

Sweeney Real Estate Negotiates $2M Sale of Office Building in Cranston, Rhode Island

by Amy Works June 30, 2017

CRANSTON, R.I. — Sweeney Real Estate & Appraisal has arranged the sale of a three-story, multi-tenanted office building located at 1150 New London Ave. in Cranston. New London Real Estate sold the 24,586-square-foot property to Vancass Holdings LLC for $2 million. Thomas Sweeney of Sweeney Real Estate & Appraisal brokered the deal.

June 30, 2017

Georgia Hospitality Southeast

Atlanta Hawks Break Ground on $192.5M Renovation of Philips Arena in Downtown Atlanta

by Camren Skelton June 30, 2017

ATLANTA — The Atlanta Hawks Basketball Club has broken ground on the transformation of Philips Arena, the NBA team’s home venue in downtown Atlanta. The $192.5 million renovation will include a new center-hung scoreboard, concourses with 360-degree connectivity, 250-seat master conference room with four additional breakout rooms and added dining and beverage options. Zac Brown, Atlanta native and lead singer of Zac Brown Band, will open Zac Brown’s Social Club, a Southern gourmet-style restaurant with a live music stage. Sports entertainment company Topgolf will offer Swing Suites to be rented by the hour for groups of up to 15, featuring two Topgolf simulators, HDTVs, lounge seating, food and beverage service and a view into the arena. Rapper, actor and activist Killer Mike will open one of his signature SWAG Shop barbershops, giving fans the opportunity for full hair service while watching the game. HOK is the leading architect on the project. Construction on the city-owned arena is slated for completion during the 2018-2019 NBA season. The Hawks committed to an 18-year lease extension to remain in downtown Atlanta through 2046.

June 30, 2017

Retail Southeast Virginia

Simon Opens 332,000 SF Norfolk Premium Outlets

by Camren Skelton June 30, 2017

NORFOLK, VA. — Simon has opened the 332,000-square-foot Norfolk Premium Outlets, bringing retailers including Banana Republic Factory, Calvin Klein, Nike Factory Store, Old Navy and Steve Madden to the Norfolk, Chesapeake and Virginia Beach areas. Located at 1600 Premium Outlets Blvd. on Interstate 64, the village-style outlet mall features covered walkways, courtyards, a fountain, fireplace, public artwork, children’s play area, indoor and outdoor dining options and a 1.3-mile walking trail surrounding Lake Wright.

June 30, 2017

Mixed-Use North Carolina Southeast

Corning Optical Communications to Move Headquarters to Mixed-Use Development in Charlotte

by Camren Skelton June 30, 2017

CHARLOTTE, N.C. — Corning Optical Communications, a division of Corning Inc., has revealed plans to move its corporate headquarters to Riverbend Village, a mixed-use development in northwest Charlotte. The materials science company’s new headquarters will comprise 182,500 square feet of office space. Riverbend Village will also include a 78,000-square-foot Harris Teeter and fuel center, as well as a tenant mix of restaurants, retail and residential units. Simpson Commercial LLC and Landmark Development Partners are co-developing the property, with completion slated for summer 2018. Joey Morganthall and Keely Hines with MPV Properties are handling leasing of the center.

June 30, 2017

Florida Loans Multifamily Southeast

KeyBank Secures $19.7M Acquisition Loan for Multifamily Asset in Pensacola

by Camren Skelton June 30, 2017

PENSACOLA, FLA. — KeyBank Real Estate Capital has closed a $19.7 million adjustable-rate loan for Marcus Pointe Grande Apartment Homes, a 248-unit multifamily property located in Pensacola. Timothy Weldon of KeyBank arranged the 10-year financing through Fannie Mae with a two-year interest-only period and a 30-year amortization schedule. The borrower was not disclosed. Marcus Pointe Grande features a fitness center, swimming pool, heated spa and clubhouse.

June 30, 2017

Kansas Loans Midwest Multifamily

Berkadia Arranges $15.2M Acquisition Loan for Multifamily Property in Kansas City, Kansas

by Kristin Harlow June 30, 2017

KANSAS CITY, KAN. — Berkadia has arranged a $15.2 million loan for the acquisition of SouthRidge Apartments in Kansas City. The multifamily property is located at 1100 County Line Road and includes a mix of one-, two- and three-bedroom units. Community amenities include a fitness center, two swimming pools, covered parking and gated access. The 10-year Fannie Mae loan features a 30-year amortization schedule. John Schorgl of Berkadia arranged the loan. Kansas City-based Worcester Investments was the borrower.

June 30, 2017

Industrial Midwest Nebraska

Hy-Vee Inc. Signs 115,560 SF Industrial Lease in Omaha, Nebraska

by Kristin Harlow June 30, 2017

OMAHA, NEB. — Hy-Vee Inc. has signed a 115,560-square-foot industrial lease in Omaha. The 185,000-square-foot building, located at 11651 S. 154th St., is now fully leased. Other tenants include Blackhawk Industrial Distribution Inc. and Tire Operations LLC. Hy-Vee will use the space as a warehouse as well as a central kitchen to supply its fresh food items to surrounding stores. The company maintains over 240 stores throughout the Midwest. Michael W. Miller, Colm Breathnach and Andy Ash of Colliers International represented the Landlord, DAMMM1 LLC.

June 30, 2017

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