Property Type

Uber Capital Group Secures $14M Acquisition Loan for 623,000 SF Shopping Center in Metro Ithaca

by Amy Works October 11, 2017

LANSING, N.Y. — Great Neck, N.Y.-based Uber Capital Group, a commercial real estate financial advisory and mortgage origination firm, has arranged a $14 million loan for the acquisition of The Shops at Ithaca Mall, a shopping center located at 40 Catherwood Road in Lansing. Joel J. Gorjian of Uber Capital Group secured the financing for the borrower, a private commercial real estate investment group. Target, Old Navy, Dick’s Sporting Goods, Bon-Ton, Michaels and a 14-screen Regal Cinemas anchor the shopping center, which was built in 1976. Additional tenants at the 623,000-square-foot property include Bath & Body Works, Kay Jewelers, Victoria’s Secret, ULTA Beauty, DSW Designer Shoe Warehouse, The Entertainment Zone, Great Escape Adventures, Planet Fitness and Zumiez.

October 11, 2017

Office Texas

CBRE Brokers Sale of 168,189 SF Office Property in North Dallas

by Taylor Williams October 11, 2017

DALLAS — CBRE has brokered the sale of Hillcrest Tower, a 168,189-square-foot office property located at the intersection of the LBJ Freeway and Hillcrest Road in North Dallas. The property, which was more than 90 percent leased at the time of sale, offers amenities such as a full-service deli, conference room and tenant suites with private balconies. Eric Mackey, Gary Carr, John Alvarado, Evan Stone, Jared Chua and Robert Hill of CBRE represented the undisclosed seller in the transaction. Boston-based Albany Road Real Estate Partners purchased the asset for an undisclosed price.

October 11, 2017

Hospitality Mixed-Use Multifamily New Jersey Northeast Retail Student Housing

Nexus Signs Five New Retailers to $400 Million Mixed-Use Project in South Jersey

by Amy Works October 11, 2017

GLASSBORO, N.J. — Nexus Properties has signed five new retail tenants to the Rowan Boulevard redevelopment, a mixed-use project in Glassboro. The goal of the $400 million, multi-phase project is to link the Rowan University campus with Glassboro’s downtown retail district. The new tenants bring restaurant, shopping and fitness options to downtown and include Alicia DiMichele Boutique, Tech Zone, Six Pack Training, Cookie Munchers and Mexican Mariachi Grill. In addition, Rowan Boulevard is home to Chickie & Pete’s, Tony Luke’s and Barnes & Noble Bookstore and Café. The final phase of the Rowan Boulevard project is under construction and slated for completion in August 2018. Upon completion, the development will include 2,771 student beds, classroom space, 114 apartment units, a hotel, fitness center, two parking garages and 144,000 square feet of retail space.

October 11, 2017

Office Texas

Accesso Partners Acquires 150,506 SF Office Building in Metro Dallas

by Taylor Williams October 11, 2017

ALLEN, TEXAS — Accesso Partners LLC, a South Florida-based real estate investment manager, has acquired One Allen Center, a 150,506-square-foot, Class A office building located in the Dallas metro of Allen. Situated on 7.2 acres at 700 Central Expressway S., adjacent to the 700,000-square-foot Watters Creek mixed-use development, the property was 90 percent leased at the time of sale. The new ownership will upgrade all common areas and create move-in-ready suites on a speculative basis. The seller and sales price were not disclosed.

October 11, 2017

Restaurant Retail Texas

Carlyle Group to Open 16,000 SF Food Hall in Fort Worth

by Taylor Williams October 11, 2017

FORT WORTH, TEXAS — The Carlyle Group, a Washington, D.C.-based asset management firm, will open Crockett Street Food Hall, a 16,000-square-foot venue that will be situated within Crockett Row at West 7th, a mixed-use property in Fort Worth. Located at the corner of Crockett and Norwood streets, the venue will offer 100- to 1,000-square-foot spaces to fast-casual food vendors. Fourteen eateries are currently slated to operate within the food hall, which will feature a full bar, patio seating and music in the evenings.

October 11, 2017

Industrial Texas

NAI Partners Negotiates 51,824 SF Industrial Lease in West Houston

by Taylor Williams October 11, 2017

HOUSTON — NAI Partners has negotiated a 51,824-square-foot industrial lease at 16390 Park Row Drive in west Houston. Built in 1978, the single-tenant warehouse features 28-foot clear heights, three dock-high loading doors and a parking ratio of 0.57 spaces per 1,000 square feet. Darren O’Conor and Jake Wilkinson of NAI Partners represented the landlord, FMFV Warehousing Inc., in the lease negotiations. The tenant was not disclosed.

October 11, 2017

Healthcare Midwest Ohio

Hammes, MetroHealth to Complete $1B Healthcare Campus Expansion in Cleveland

by Kristin Harlow October 11, 2017

CLEVELAND, OHIO — The MetroHealth System has selected Hammes Co. to collaborate on a $1 billion healthcare campus expansion in Cleveland. The cornerstone of the project will be a new 12-story hospital tower with 270 private rooms. The tower will also house an extensive range of departments. Other project plans include the construction of a connector building to the existing critical care pavilion, a parking garage, new loading dock, central utility plant and helipads. The project is expected to take six years to complete. Hammes is a healthcare project management firm that provides strategic planning, implementation and development services for capital construction projects.

October 11, 2017

Midwest Office Ohio

90 North Acquires Two Office Buildings in Ohio for $140M

by Kristin Harlow October 11, 2017

CINCINNATI AND EASTON, OHIO — 90 North Real Estate Partners LLC has acquired two office properties in Cincinnati and Easton for $140 million. 90 North partnered with Sidra Capital for the acquisition of Mercy Health’s corporate headquarters in the Bond Hill neighborhood of Cincinnati. The 368,447-square-foot building, completed in April 2016, is located at 1701 Mercy Health Place. Chicago-based Verus Partners was the developer and the seller of the property. In partnership with KAMCO Investment Co., 90 North also acquired a 215,000-square-foot office building in Easton, a suburb of Columbus. Abbott Nutrition, a pharmaceutical company and division of Abbott Laboratories, leases the Class A property on a triple net lease for 15 years. The building, located at 2900 Easton Square Place, features 54,000-square-foot floor plates, parking for 1,075 vehicles and a cafeteria. The Georgetown Group was the seller.

October 11, 2017

Illinois Midwest Office

Foresite Realty Arranges Sale of 47,880 SF Office Building in Chicago

by Kristin Harlow October 11, 2017

CHICAGO — Foresite Realty Partners LLC has arranged the sale of 215 W. Ohio St. in Chicago for an undisclosed price. The 47,880-square-foot office building is located in the heart of the River North neighborhood. Ryan Nelson of Foresite Realty represented the undisclosed seller. Tyler Hague of Colliers International represented the buyer, an entrepreneurial real estate investor with other holdings in Chicago.

October 11, 2017

Healthcare Illinois Midwest

Advocate Health Care Leases Former Sports Authority Space in Lakeview, Illinois

by Kristin Harlow October 11, 2017

LAKEVIEW, ILL. — Advocate Health Care has leased a former Sports Authority property in Lakeview. The healthcare company plans to convert the space, located at 3154 N. Clark St., into a new medical office center. Advocate has leased the entire property, which includes 40,400 square feet of ground-floor space, 10,100 square feet of basement space and a two-story parking facility for 115 vehicles. The new location will house clinical and ancillary operations including internal medicine, cardiology, cardiac testing, obstetrics, endocrinology, neurology, X-ray and laboratory services. Demolition and construction is underway, with completion slated for early 2018. Next Realty LLC is the property landlord. Amy Levin of Next represented the real estate investment firm in the lease transaction. Gary Fazzio and Sharon Kahan of CBRE represented Advocate.

October 11, 2017

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