Property Type

HFF Brokers Sale of 26-Building Office/Flex Portfolio in Southern New Jersey

by Amy Works October 17, 2017

MOORESTOWN AND BURLINGTON, N.J. — HFF has facilitated the sale of a 26-building office/flex portfolio located in Moorestown and Burlington. Mack-Cali Realty Corp. sold the portfolio to Brennan Investment Group for an undisclosed price, free and clear of any mortgage financing. Totaling 1.2 million square feet, the portfolio comprises 24 buildings in Moorestown and two buildings in Burlington. At the time of sale, the portfolio was 91 percent leased. Tenants at the portfolio include businesses in healthcare services, pharmaceutical/clinical packaging and medical supplies. Jose Cruz, Doug Rodio, Brett Segal and Kevin O’Hearn of HFF represented the seller in the transaction.

October 17, 2017

Multifamily New York Northeast

Kalikow Group Breaks Ground on $29M Residential Building in Brooklyn

by Amy Works October 17, 2017

NEW YORK CITY — The Kalikow Group has broken ground on 2415 Church Avenue, a rental residential building located in the Prospect-Lefferts Gardens neighborhood of Brooklyn. The Kalikow Group, WRS Associates and Ishay Group are joint owners of the $29 million, 67-unit property. The as-of-right property will include studio, one- and two-bedroom units priced at market rates. The units will feature luxury finishes including high ceilings, open kitchens, high-end appliances, in-unit washers/dryers, wood floors and spacious bathrooms. On-site amenities will include a fitness center, lounge and workspace, rooftop deck and a bicycle storage area. KSQ Architects is providing architectural services for the project, which is slated for completion in mid-2019.

October 17, 2017

Connecticut Northeast Office Retail

Press/Cuozzo Negotiates $3.1M Sale of Two-Building Mixed-Use Portfolio in Hamden, Connecticut

by Amy Works October 17, 2017

HAMDEN, CONN. — Press/Cuozzo Commercial Services has arranged the sale of a two-building mixed-use portfolio located at 2340-2348 Whitney Ave. in Hamden. Town Hall Center LLC sold the portfolio to a private investor for $3.1 million. Totaling 23,320 square feet, the properties were 100 percent occupied at the time of sale. The properties feature a mix of retail and office tenants. Stephen Press of Press/Cuozzo Commercial Services represented the seller in the deal.

October 17, 2017

Massachusetts Northeast Retail

Marcus & Millichap Arranges $3.9M Sale of Retail Property in Dover, Massachusetts

by Amy Works October 17, 2017

DOVER, MASS. — Marcus & Millichap has brokered the sale of Dover Market Plaza, a retail property located at 14-16 Springdale Ave. in Dover. An undisclosed buyer acquired the property from a limited liability company for $3.9 million. Tenants at the 10,000-square-foot property include a liquor store, banking services and the Dover Market, a boutique supermarket and deli. Laurie Ann Drinkwater, Seth Richard, Andrew Gilbert and Casey Valente of Marcus & Millichap represented the seller in the transaction.

October 17, 2017

Office Texas

Marketing Firm to Open 114,000 SF Headquarters in Downtown Austin

by Taylor Williams October 17, 2017

AUSTIN, TEXAS — Main Street Hub, a marketing firm that targets local businesses, will open a new, 114,000-square-foot headquarters at 2010 E. Sixth St. in downtown Austin. The company will relocate employees from its two existing Austin offices, as well as those in its New York City office, to the new office space starting in 2019. The four-story property will offer amenities such as a rooftop patio, bicycle storage, on-site showers and dedicated parking for food trucks.

October 17, 2017

Loans Multifamily Seniors Housing Texas

KeyBank Arranges $74.6M Loan for Seniors Housing Portfolio in Texas

by Taylor Williams October 17, 2017

CLEVELAND — KeyBank Real Estate Capital has arranged a $74.6 million loan for the refinancing of a portfolio of seniors housing properties located in various markets throughout Texas. The portfolio consists of six skilled nursing facilities totaling 806 beds. John Randolph, Grant Saunders and Peter Trazzera of KeyBank arranged the financing through the FHA’s 232/223(f) mortgage insurance program. The borrower was a joint venture between Capital Senior Ventures, a subsidiary of Baltimore-based Capital Funding Group, and New York-based Blue Mountain Capital Management.

October 17, 2017

Retail Texas

LA Fitness to Open 34,000 SF Gym in Metro Austin

by Taylor Williams October 17, 2017

CEDAR PARK, TEXAS — LA Fitness will open a 34,000-square-foot gym at Cedar Park Plaza, a retail development located at the corner of Whitestone Boulevard and Bagdad Road in the Austin metro of Cedar Park. Scheduled to open by November 2018, the Cedar Park location will be the company’s sixth gym in the Austin area. John Zikos and Jonathan Cooper of Venture Commercial, along with John Kalamaras and Ted Slaughter of RealSource Partners, represented LA Fitness in the lease negotiations. The landlord, Cedar Park Plaza LP, was self-represented.

October 17, 2017

Industrial Texas

NAI Secures 14,165 SF Industrial Lease Renewal in Northwest Houston

by Taylor Williams October 17, 2017

HOUSTON — NAI Partners has secured a 14,165-square-foot industrial lease renewal at 6100 West by Northwest in Houston Blvd. on behalf of Craters & Freighters, a Colorado-based shipping firm. Chris Caudill of NAI Partners represented the tenant in the lease negotiations. Harry Kutner and Blake Warren of Stream Realty Partners represented the landlord, Agellan Commercial REIT US LP.

October 17, 2017

Illinois Industrial Midwest

PREMIER Breaks Ground on 323,343 SF Distribution Warehouse in Cicero, Illinois

by Kristin Harlow October 17, 2017

CICERO, ILL. — PREMIER Design + Build Group LLC has broken ground on a 323,343-square-foot distribution warehouse in Cicero, about eight miles southwest of downtown Chicago. Bridge Point 290 will feature 50 exterior truck dock positions, 36-foot clear heights, 273 vehicle parking spots and 77 trailer stalls. Bridge Development Partners LLC is the project developer. The project team also includes architect Cornerstone Architects Ltd., civil engineer SPACECO Inc. and structural engineer Swift Structural Design. George Maragos, Mitch Adams and Nicole Mentone of CBRE are marketing the property for lease. Completion is slated for the first quarter of 2018.

October 17, 2017

Healthcare Illinois Midwest

Avison Young Arranges Sale of 93,903 SF Medical Office Building in Lake Bluff, Illinois

by Kristin Harlow October 17, 2017

LAKE BLUFF, ILL. — Avison Young has arranged the sale of the Carriage Point Medical Complex in Lake Bluff, about 35 miles north of Chicago. The sales price was not disclosed. The 93,903-square-foot medical office building is located at 101 Waukegan Ave. Anchored by Fresenius Medical Care, the property is 100 percent leased to several regional healthcare providers. Erik Foster, Mike Wilson and Tim Henry of Avison Young represented the seller, Franklin Partners. J. Emil Anderson & Sons Co., a Chicago-based developer and owner, purchased the property.

October 17, 2017

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