Property Type

Concord Capital Acquires 203,000 SF Shopping Plaza in Middletown, New York

by Amy Works February 8, 2018

MIDDLETOWN, N.Y. — Concord Capital New York has purchased Playtogs Shopping Plaza, a mixed-use shopping plaza situated on 18 acres at 130-138, 144-146 and 156 Dolson Ave. Concord Capital plans to renovate the existing structure, rename the property Middletown Plaza and Playtogs Corporate Center and lease the mall. The property is a 203,000-square-foot four-building community retail center with more than 40 retail spaces. At the time of sale, the property was 40 percent leased to a variety of tenants, including Family Dollar, TD Bank, Rent-A-Center, Mavis Discount Tire, Carvel and Middletown Cinemas.

February 8, 2018

Loans New York Northeast Office

Houlihan-Parnes, GHP Office Realty Secure $13M Loan for Office Property in White Plains, New York

by Amy Works February 8, 2018

WHITE PLAINS, N.Y. — Houlihan-Parnes Realtors and GHP Office Realty has secured a $13 million first mortgage for an office property located at 400 Westchester Ave. in White Plains. The loan was placed for a period of 20 years and self-liquidating basis at a rate of 4.06 percent. Fordham University occupies the property with a net lease through 2038. Christie Houlihan, Bryan Houlihan and Andrea Lofaro of Houlihan-Parnes Realtors and GHP Office Realty arranged the loan. Elizabeth Smith of Goldberg Weprin Finkel Goldstein LLP represented the undisclosed borrower and the title was ensured by The Great American Title Agency in White Plains.

February 8, 2018

Industrial New York Northeast

Marcus & Millichap Arranges $3.2M Sale of Industrial Property in Mount Vernon, New York

by Amy Works February 8, 2018

MOUNT VERNON, N.Y. — Marcus & Millichap has brokered the sale of an industrial property located at 888 S. Columbus Ave. in Mount Vernon. A private investor sold the property for $3.2 million. The property features 39,000 square feet of industrial space. John Sala of Marcus & Millichap represented the seller in the transaction.

February 8, 2018

Industrial Massachusetts Northeast

Kelleher & Sadowsky Facilitates Sale of 19,892 SF Industrial Building in Worcester, Massachusetts

by Amy Works February 8, 2018

WORCESTER, MASS. — Kelleher & Sadowsky has arranged the sale of an industrial building located at 100-104 Lamartine St. in Worcester. Accelerated Energy Inc. acquired the 19,892-square-foot property for an undisclosed price. The buyer provides energy savings solutions and services. Will Kelleher, Mark Johns and David Cohen of Kelleher & Sadowsky brokered the transaction. The name of the seller was not released.

February 8, 2018

Illinois Industrial Midwest

Hilco Redevelopment Partners Acquires Former Power Plant, Plans $100M Industrial Development

by Kristin Harlow February 8, 2018

CHICAGO — Hilco Redevelopment Partners, a unit of Hilco Global, has acquired the Crawford Power Generating Station site in Chicago’s Little Village neighborhood for an undisclosed price. NRG Energy sold the site, which had previously operated as a coal-fired power plant beginning in the late 1920s before being decommissioned in 2012. Hilco plans to demolish the facility and replace it with up to 1 million square feet of warehouse space as part of a $100 million project, according to the Chicago Tribune. Remediation work is slated to begin soon and may take anywhere from 14 to 24 months, depending on site conditions.

February 8, 2018

Loans Midwest Multifamily Nebraska

Bellwether Enterprise Arranges $55.8M Acquisition Financing for Workforce Housing Property in Lincoln, Nebraska

by Kristin Harlow February 8, 2018

LINCOLN, NEB. — Bellwether Enterprise Real Estate Capital LLC has arranged a $43 million acquisition loan and a $12.8 million equity placement for Links at Lincoln in Nebraska. The 612-unit workforce housing property is situated on 100 acres. Residents have access to the onsite nine-hole golf course. Other amenities include a fitness center, tennis court, playground, hot tub and tanning rooms. Phil Melton and John Roberts of Bellwether Enterprise arranged the $43 million Freddie Mac loan. Todd Johnson of Bellwether Enterprise arranged the $12.8 million equity investment.

February 8, 2018

Midwest Ohio Retail

IPA Brokers $55.7M Sale of Shopping Center in Aurora, Ohio

by Kristin Harlow February 8, 2018

AURORA, OHIO — Institutional Property Advisors (IPA) has brokered the sale of Marketplace at Four Corners in Aurora for $55.7 million. The 525,708-square-foot shopping center, located at 7155-7175 Aurora Road, opened in 2002. The property was 99 percent occupied at the time of sale. Anchor tenants include Walmart, Kohl’s Dick’s Sporting Goods and HomeGoods. Scott Wiles, Erin Patton and Craig Fuller of IPA represented the Florida-based seller, which Crain’s Cleveland Business cites as an affiliate of MPG Development. Along with Dean Zang of IPA, the team also secured the buyer, a New York-based 1031 exchange investor. IPA is a division of Marcus & Millichap.

February 8, 2018

Industrial Midwest Wisconsin

Meridian Begins Construction of 307,850 SF Industrial Building in Mount Pleasant, Wisconsin

by Kristin Harlow February 8, 2018

MOUNT PLEASANT, WIS. — Meridian Design Build has started construction on a 307,850-square-foot speculative industrial building in Mount Pleasant in southeast Wisconsin. The facility will feature a clear height of 32 feet, 40 loading docks, four drive-in doors, 242 auto parking spaces and 94 trailer stalls. The building will be able to accommodate up to six tenants. Land and Lakes Development is the project developer. Partners in Design is providing architectural services while Pinnacle Engineering is completing civil engineering work. A timeline for construction was not disclosed. This is the second project Meridian has constructed within the 60-acre Mount Pleasant Business Park. Land and Lakes Development sold the first building, which is leased to Goodwill Industries, to Zilber Property Group last year.

February 8, 2018

Illinois Industrial Midwest

JLL Arranges Sale of 117,000 SF Industrial Facility in Lake Zurich, Illinois

by Kristin Harlow February 8, 2018

LAKE ZURICH, ILL. — JLL has arranged the sale of a 117,000-square-foot industrial facility in Lake Zurich, about 40 miles northwest of Chicago. The sales price was not disclosed. The facility is located on a 9.9-acre site at 800 N. Church St. The property features a clear height of 24 feet, 275 auto parking spaces, eight docks, fully air-conditioned warehouse space and 19,000 square feet of office space. Steve Trapp and Steve Steinmeyer represented the buyer, an affiliated entity of Midwest Industrial Funds (MIF). Nick Panarese of Van Vlissingen and Co. represented the undisclosed seller. The deal comes just months after MIF announced that the company had raised a new real estate investment fund, MIF Value Fund II LP, to purchase over $150 million of industrial properties over the next few years, according to JLL.

February 8, 2018

California Mixed-Use Top Stories Western

Brookfield Residential Acquires Developer OliverMcMillan, Including ‘Certain Assets’

by John Nelson February 8, 2018

CALGARY, ALBERTA AND SAN DIEGO — Brookfield Residential Properties Inc., the residential development arm of private equity firm Brookfield Asset Management, has closed on its acquisition of OliverMcMillan, a San Diego-based developer of large-scale mixed-use properties. Details of the acquisition were not disclosed, but on a conference call Wednesday (Feb. 7), Brookfield Residential chairman and CEO Alan Norris stated that the acquisition encompasses “certain assets” of OliverMcMillan. According to a release from Brookfield Residential, OliverMcMillan will continue to design and build mixed-use developments and will also continue to manage its existing real estate assets. “We simply could not have found a better long-term home,” says Dene Oliver, CEO of OliverMcMillan, in a prepared statement about the merger with Brookfield Residential. OliverMcMillan has several mixed-use projects under development across the country, including the second phases of River Oaks District in Houston and Buckhead Atlanta in Atlanta’s Buckhead district. As part of the merger, Brookfield Residential is acquiring the future pipeline of these two projects but not the operations of the existing assets, according to a source familiar with the acquisition. The second phase of Buckhead Atlanta includes 315,000 square feet of office space, according to the OliverMcMillan website. The project’s first …

February 8, 2018

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