Property Type

Jeld-Wen Leases 194,734 SF at North County Corporate Center in Vista, California

by Nellie Day January 3, 2018

VISTA, CALIF. — Jeld-Wen has leased 194,734 of industrial space at North County Corporate Center in the San Diego submarket of Vista. The door and window manufacturer is leasing two buildings at 2760 and 2765 Progress St. The company has been a longstanding tenant of the North County Corporate Center for 15 years. North County Corporate Center is a five-building industrial park that was built in 1999. It is currently fully leased. Darren Morgan of Cushman & Wakefield represented Jeld-Wen, while the firm’s Aric Starck and Dennis Visser represented the landlord, Barings Real Estate Advisors, in this transaction.

January 3, 2018

Midwest Minnesota Retail

ARA Acquires 403,219 SF Retail Center in Eagan, Minnesota

by Kristin Harlow January 3, 2018

EAGAN, MINN. — American Realty Advisors (ARA) has acquired Central Park Commons in Eagan. The sales price was $126.3 million, according to the Minneapolis Business Journal. The 403,219-square-foot retail center is currently 97 percent occupied by tenants including Hy-Vee, HomeGoods, Marshalls, Hobby Lobby, Ulta and Petco. The newly constructed property, located at 3333 Pilot Knob Road, also includes medical office space. Bob Mahoney of CBRE represented the seller, a joint venture between CSM Corp. and John Johannson.

January 3, 2018

Midwest Minnesota Office

Onward Investors Sells 85,404 SF Office Building in Maple Grove, Minnesota

by Kristin Harlow January 3, 2018

MAPLE GROVE, MINN. — Onward Investors has sold Wedgewood Commerce Center in Maple Grove, a northwest suburb of Minneapolis, for $8.4 million. Built in 1988, the 85,404-square-foot office building is located at 6900 Wedgwood Road. Onward purchased the property in February 2015 and subsequently renovated vacant office spaces and made significant upgrades to the lobby. Additional upgraded amenities include a bike room that allows tenants to store and service their bikes on site. Major tenants include Henningson & Snoxell, PartnerRe America Insurance Co. and McKinstry Communications. Atlanta-based WCC Partners LP was the buyer.

January 3, 2018

Loans Michigan Midwest Seniors Housing

Cohen Financial, Pillar Arrange $11.5M in HUD Loans for Seniors Housing Properties in Michigan

by Kristin Harlow January 3, 2018

ALLEGAN AND OWOSSO, MICH. — Cohen Financial and Pillar, both divisions of SunTrust Bank, have arranged $11.5 million in HUD loans for the refinancing of two seniors housing properties in Michigan. Cathy Bronkema of Cohen Financial and Joshua Hausfeld of Pillar arranged a $6.5 million loan for Oliver Woods Retirement Village, an 80-unit property in Owosso. They also secured a $5 million loan for Briarwood Assisted Living, a 39-unit property in Allegan. The borrower is a Grand Rapids-based senior living property owner and operator. The SunTrust/Pillar healthcare financing platform can meet borrowers’ financing needs from bridge financing to long-term, fully amortizing loans, according to Bronkema.

January 3, 2018

Loans Midwest Ohio Retail

Dougherty Provides $2.7M Refinancing for Shopping Mall in Elyria, Ohio

by Kristin Harlow January 3, 2018

ELYRIA, OHIO — Dougherty Funding LLC has provided a $2.7 million loan for the refinancing of Midway Mall in Elyria, about 30 miles southwest of Cleveland. The retail center encompasses 585,606 square feet of gross leasable area. The mall is approximately 80 percent occupied by 75 tenants, and is comprised of a mix of national, regional and local tenants. Elyria Realty LLC, Midway CH LLC and Midway Nassim LLC were the borrowers. Dougherty served as lead lender and is servicing the loan.

January 3, 2018

Michigan Midwest Retail

BlackBird East to Open 2,744 SF Retail Store in Grand Rapids, Michigan

by Kristin Harlow January 3, 2018

GRAND RAPIDS, MICH. — BlackBird East will open a retail store in the Gas Light Village district of Grand Rapids. The men and women’s clothing store will occupy 2,744 square feet at 2166 Wealthy St. Renovations are currently being made to transform the space from a gym to the retail shop. BlackBird East anticipates opening by early March 2018. Bill Tyson of NAI Wisinski of West Michigan represented the landlord in the lease transaction. Dave Kwekel of Dave Kwekel Development LLC represented the tenant.

January 3, 2018

Multifamily New York Northeast Student Housing

EMET Capital Management Purchases Student Housing Complex in Brockport, New York

by Amy Works January 3, 2018

BROCKPORT, N.Y. — EMET Capital Management has acquired College Suites at Brockport, a 401-bed student housing community located at 4599 Redman Road in Brockport. Situated on 12 acres, College Suites at Brockport features 114 units in a mix of one-, two-, three- and four-bedroom fully furnished floorplans. On-site amenities include a fitness center, a game room, a business center, a 24-hour group study area and a complimentary shuttle service to campus. The property was completed in 2009. Jose Cruz, Andrew Scandalios, Kevin O’Hearn, Michael Oliver, Stephen Simonelli, Jordan Avanzato and Ryan McBride of HFF represented the undisclosed seller and procured the buyer in the transaction.

January 3, 2018

Civic New Hampshire Northeast Office

A&G Partners Completes $11.6M Sale of Daniel Webster College Campus in Nashua, New Hampshire

by Amy Works January 3, 2018

NASHUA, N.H. — A&G Partners has closed the sale of Daniel Webster College’s 53-acre campus, formerly owned by ITT Educational Services, to Hong Kong-based user for $11.6 million. The campus housed 13 buildings totaling 281,000 square feet. The transaction — approved October 25, 2017, by the U.S. Bankruptcy Court in Indianapolis — followed the closing in November of A&G’s sale of the college’s aviation-specific facilities to Southern New Hampshire University. Assets at the former aviation school included a hangar, flight center, library, gym, townhouse and six additional buildings.

January 3, 2018

Multifamily New York Northeast

Radson Development Acquires Development Site in the Bronx

by Amy Works January 3, 2018

NEW YORK CITY — Radson Development has acquired a development site located at a surface parking lot at 2519-2525 Creston Ave. in the Bronx for an undisclosed price. The buyer plans to develop a 12-story affordable housing project on the site. As part of the transaction, Radson Development will return to the seller a condominium interest in a commercial parking garage at the property. The seller originally purchased the lot in the early 2000s as part of its acquisition of 2501 Grand Concourse, the former Alexander’s and Caldor Department stores. The building was successfully converted to a multi-tenanted retail and office building and the lot on Creston Street has become an invaluable asset to the tenants of the building. Bryan Houlihan and James J. Houlihan of Houlihan-Parnes Realtors brokered the transaction. The name of the seller was not released.

January 3, 2018

Connecticut Northeast Office

Sentry Commercial Arranges $1.2M Acquisition of Office Building in West Hartford, Connecticut

by Amy Works January 3, 2018

WEST HARTFORD, CONN. — Sentry Commercial has brokered the acquisition of an office building located at 28 N. Main St. in West Hartford. North Main Holdings LLC purchased the property from Rosenfield/Hollander Associates for $1.2 million. Situated on half an acre, the property features 9,392 square feet of office space. Sentry Commercial represented the buyer, while Chozick Realty represented the seller in the deal.

January 3, 2018

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