Property Type

Regency Properties Acquires Two Shopping Centers in Michigan Totaling 115,623 SF

by Kristin Harlow December 21, 2017

CARO, MICH. — Regency Properties has acquired Caro Centre and Sugarcreek Plaza in Caro, located east of Saginaw in Michigan’s Thumb region. The sales price and seller were not disclosed. The 71,706-square-foot Caro Centre is home to tenants including Family Dollar, Peebles, Goodwill and Caro Ace Hardware. Regency Properties plans to invest approximately $200,000 to renovate the property’s façade. Sugarcreek Plaza totals 43,916 square feet and is home to two tenants — Tractor Supply Co. and Save-A-Lot. In addition, the property includes a nearly one-acre outlot that is available for development.

December 21, 2017

Affordable Housing Indiana Loans Midwest Multifamily

Pillar Originates $6M Fannie Mae Loan for Refinancing of Affordable Housing Property in Lafayette, Indiana

by Kristin Harlow December 21, 2017

LAFAYETTE, IND. — Pillar Financial, a division of SunTrust Bank, has originated a $6 million Fannie Mae loan for the refinancing of Lahr Apartments in Lafayette. Constructed in 1831, the historic property originally served as the Lahr Hotel before being transformed into affordable housing units in 1998. The property also features first-floor retail space. Joe Markech of Pillar originated the 10-year loan, which features a 30-year amortization schedule. Pillar sourced the transaction through Mike Dury of PR Mortgage, a Pillar correspondent.

December 21, 2017

Hospitality Midwest Ohio

Mumford Co. Arranges Sale of 121-Room Hotel in Macedonia, Ohio

by Kristin Harlow December 21, 2017

MACEDONIA, OHIO — Mumford Co. has arranged the sale of the Motel 6 in Macedonia, about 23 miles southeast of Cleveland. The sales price was not disclosed. Built in 1990, the 121-room hotel features Wi-Fi and guest laundry. George Arvanitis and Steve Kirby of Mumford Co. represented the seller, Shahil LLC. Macedonia Hospitality LLC purchased the property.

December 21, 2017

Industrial Midwest Wisconsin

EnSync Signs 42,600 SF Industrial Lease in Menomonee Falls, Wisconsin

by Kristin Harlow December 21, 2017

MENOMONEE FALLS, WIS. — EnSync Inc. has signed a 42,600-square-foot industrial lease in Menomonee Falls, 20 miles northwest of Milwaukee. The energy company will occupy the space at 13901 Main St. Samuel D. Dickman, Samuel M. Dickman Jr., Nick Keys and Cale Berg of the Dickman Co. Inc./CORFAC International brokered the transaction. 13901 Leasing Co. LLP is the property landlord.

December 21, 2017

Georgia Multifamily Southeast

CBRE Arranges $49.6M Sale of Apartment Community in Metro Atlanta

by Camren Skelton December 21, 2017

LAWRENCEVILLE, GA. — CBRE has arranged the $49.6 million sale of 1760 Apartment Homes, a 239-unit multifamily community located at 1760 Lakes Parkway in Lawrenceville, approximately 30 miles northwest of downtown Atlanta. Shea Campbell, Paul Berry and Steve Newbern of CBRE arranged the transaction on behalf of the seller, LIV Development. Charleston, S.C.-based Blaze Partners acquired the property, which was constructed earlier this year. The community features a clubhouse with teaching kitchen, game room, cyber café, resort-style pool and a fitness center.

December 21, 2017

Florida Retail Southeast

Barneys New York to Anchor $400M Expansion of Bal Harbour Shops in South Florida

by Camren Skelton December 21, 2017

BAL HARBOUR, FLA. — Whitman Family Development LLC has signed a 53,000-square-foot lease with Barneys New York to anchor the $400 million expansion of Bal Harbour Shops, an upscale, open-air shopping center in South Florida’s Bal Harbour. The store will be the brand’s first Barney’s New York location in Florida, and will include Freds at Barneys New York, a European-inspired restaurant that serves contemporary American cuisine. Barneys New York, along with Freds, is scheduled to open in 2023 in conjunction with the 350,000-square-foot Bal Harbour expansion, which will add roughly 70 new retailers. The family-owned Bal Harbour Shops originally opened in 1965 and was the first all-luxury fashion center in the United States.

December 21, 2017

Georgia Retail Southeast

IKEA to Open New Location in Metro Atlanta

by Camren Skelton December 21, 2017

MARIETTA, GA. — IKEA U.S. will submit plans to the City of Marietta for its second Atlanta-area store. Situated roughly 15 miles northwest of downtown Atlanta, IKEA Marietta is expected to be built on 34 acres on the western side of Interstate 75 on Franklin Gateway, between the Marietta Parkway and Delk Road exit interchanges. A construction timeline for the new store has not been determined. The Swedish home furnishings retailer currently operates a store in Midtown near Atlantic Station.

December 21, 2017

Alabama Multifamily Southeast Student Housing

Colliers Closes $32M Sale of Student Housing Community Near Auburn University

by Camren Skelton December 21, 2017

AUBURN, ALA. — Colliers International has arranged the $32 million sale of The Social, an 844-bed student housing community located at 211 W. Longleaf Drive, roughly three miles from Auburn University in Alabama. Travis Prince, Sean Baird and Brian Savage arranged the transaction. Other terms of the deal were not disclosed. The Social offers one- to three-bedroom units, ranging in size from 918 to 1,188 square feet. Community amenities include a community theater room, resort-style pool and a clubhouse with billiards, ping pong, foosball and air hockey tables. In addition, the community offers direct access to the Tiger Transit line, a free bus service for Auburn University students.

December 21, 2017

Healthcare Maryland Office Southeast

Avison Young Secures $10.6M Sale of Office Building in Metro Baltimore

by Camren Skelton December 21, 2017

COLUMBIA, MD. — Avison Young has arranged the sale of an 84,025-square-foot office building located at 6350 Stevens Forest Road in Columbia, roughly 20 miles southwest of Baltimore. The sales price was not disclosed, but sources familiar with the transaction report the building sold for $10.6 million. Chip Ryan, Jim Kornick and Bob Wrighton of Avison Young arranged the transaction on behalf of the seller, New Boston Fund. Pratt Street Capital acquired the asset. Johns Hopkins Community Physicians anchors the building, which was 77 percent leased at the time of sale. Medical- and healthcare-related tenants occupy 43 percent of the building, which is located roughly three miles from Johns Hopkins Howard County General Hospital and two miles from Columbia Town Center.

December 21, 2017

California Retail Western

Wilson Torrance Acquires 127,400 SF Retail Property in Torrance for $47.5M

by Nellie Day December 21, 2017

TORRANCE, CALIF. — Wilson Torrance LLC has purchased a freestanding retail property located at 2255 S. Western Ave. in Torrance. The Shorestein Co. sold the property for $47.5 million. Lowe’s Cos. fully leases the property, which is occupied by Lowe’s Home Improvement Warehouse. Situated on 12.7 acres, the 127,400-square-foot building features a 30,000-square-foot garden center and 750 parking spaces with six street access points. Christopher Sheldon, Andrew Bogardus, Douglas Longyear and Stephen Algermissen of Cushman & Wakefield represented the seller, while the buyer represented itself in the transaction.

December 21, 2017

Newer Posts

Older Posts