Property Type

Publix to Anchor Retail Portion of Latitude Margaritaville in Daytona Beach

by Camren Skelton April 20, 2018

DAYTONA BEACH, FLA. — Sutton Properties has signed Publix to anchor Latitude Landings, the 200,000-square-foot retail portion of Latitude Margaritaville Daytona Beach, an active adult community. Margaritaville Holdings and Minto Properties are developing the community, and Sutton Properties is developing and leasing the project’s retail portion, dubbed Latitude Landings. Publix will occupy 48,000 square feet at the shopping center, which will be located on LPGA Boulevard, adjacent to the development’s residential community and accessible by golf cart. Slated to open in the second quarter of 2019, the new grocery store will include grab-and-go prepared meals, an in-store café and a Publix Liquors store. The first phase of Latitude Margaritaville includes 378 home sites. Current plans call for 3,000 homes, with the possibility to expand to a total of 6,000 homes at full build-out. The community is designed for adults ages 55 and older.

April 20, 2018

Industrial Leasing Activity Maryland Southeast

MRP Industrial Signs 220,800 SF Lease with La-Z-Boy at Industrial Park Near D.C.

by Camren Skelton April 20, 2018

BOWIE, MD. — MRP Industrial has signed La-Z-Boy to a 220,800-square-foot, full-building lease at 16101 Queen’s Court, located within Bowie’s Collington Park industrial development. Delivered in 2016, the facility is located roughly 18 miles northeast of Washington, D.C. The national furniture manufacturer will transfer its distribution and logistics operation, currently located in Odenton, Md., to the new facility this fall. Lisa Goodwin of MRP Industrial and Lance Schwarz of NAI Michael arranged the lease on behalf of the building owner, a partnership between MRP Industrial and AEW Capital Management LP. Rob Tamillo, Zak Mirkowski, Todd Hughes and Greg Ferraro of JLL represented La-Z-Boy. Situated on 13 acres, 16101 Queen’s Court features 32-foot clear heights, 40 dock doors, two overhead drive-in doors, a 185-foot truck court and seven-inch, unreinforced concrete flooring. La-Z-Boy currently operates five manufacturing plants and six regional distribution centers throughout the country. The Bowie location will contain manufacturing, delivery and repair services, and will also offer customers the option to pick up furniture purchases instead of having their orders delivered.

April 20, 2018

Acquisitions Industrial South Carolina Southeast

Crescent Communities Sells New 201,758 SF Industrial Building in Metro Charlotte for $12.7M

by Camren Skelton April 20, 2018

FORT MILL, S.C. — Crescent Communities has sold Lakemont East, a 201,758-square-foot industrial building in Fort Mill, a South Carolina suburb of Charlotte. Hartz Mountain Industries Inc. acquired the newly constructed building for $12.7 million, according to the Charlotte Business Journal. Patrick Gildea of CBRE arranged the transaction on behalf of Crescent. Lakemont East was developed in collaboration with architectural firms Merriman Schmitt and Gensler. The building is located within Crescent’s Lakemont Business Park, an 864-acre, planned industrial development. In December, Crescent unveiled plans to develop a 345,000-square-foot, build-to-suit manufacturing and distribution facility for toolmaker Stanley Black & Decker at the park. The firm expects to wrap up construction on the building in the third quarter.

April 20, 2018

Acquisitions Indiana Midwest Multifamily Student Housing

PEP Acquires 713-Bed Student Housing Community Near Indiana University

by Kristin Harlow April 20, 2018

BLOOMINGTON, IND. — Pierce Education Properties (PEP) has acquired Smallwood Plaza near Bloomington’s Indiana University. The 713-bed student housing community is located a half-mile from the university. Amenities include laundry rooms, study lounges and a fitness center. The new ownership plans to upgrade unit interiors with new flooring, 50-inch televisions and furniture. The seller was not disclosed.

April 20, 2018

Industrial Loans Michigan Midwest

Bernard Arranges $4.8M Refinancing for Industrial Property in Chesterfield Township, Michigan

by Kristin Harlow April 20, 2018

CHESTERFIELD TOWNSHIP, MICH. — Bernard Financial Group has arranged a $4.8 million loan for the refinancing of a 145,063-square-foot industrial property in Chesterfield Township, about 30 miles north of Detroit. An undisclosed tenant occupies the building. David Dismondy of Bernard arranged the loan on behalf of the borrower, 50625 RWB LLC. Genworth Life Insurance Co. provided the loan.

April 20, 2018

Acquisitions Illinois Midwest Retail

Colliers Brokers Sale of Former Car Dealership in Palatine, Illinois

by Kristin Harlow April 20, 2018

PALATINE, ILL. — Colliers International has brokered the sale of a former Jaguar car dealership in Palatine, located about 35 miles northwest of Chicago. The sales price was not disclosed, but the asking price was $3.3 million. Studio 41, a kitchen and bath plumbing fixtures manufacturer, purchased the 30,000-square-foot property with plans to convert it into a home design showroom. Upon completion, the property will be open to homeowners, contractors, designers and architects. Anne Dempsey of Colliers represented the seller, Morries Automotive Group.

April 20, 2018

Acquisitions Industrial Michigan Midwest

Marmo Meccanica Purchases 13,519 SF Industrial Building in Pontiac, Michigan

by Kristin Harlow April 20, 2018

PONTIAC, MICH. — Marmo Mecccanica NA has purchased a 13,519-square-foot industrial building in Pontiac for an undisclosed price. The company, which specializes in the manufacturing of edge polishing and bridge cutting machines used in granite fabrication, will relocate to the space at 1590 E. Highwood Blvd. Built in 1990, the building features overhead cranes and a flexible floor plan to accommodate expansion. Tom Jablonski of L. Mason Capitani CORFAC International represented Marmo Meccanica in the sales transaction. The seller was not disclosed.

April 20, 2018

Industrial Leasing Activity Michigan Midwest

Anytime Restoration Signs 10,500 SF Industrial Lease in Warren, Michigan

by Kristin Harlow April 20, 2018

WARREN, MICH. — Anytime Restoration Service Inc. has signed a 10,500-square-foot industrial lease in Warren. The disaster restoration company that specializes in both commercial and residential projects involving water, fire and mold cleanup will occupy the space at 6655 Chicago Road. Matthew Farrell and Kevin Tamer of CORE Partners represented the tenant in the five-year lease transaction. Brad Hitch of Deco Properties represented the undisclosed landlord.

April 20, 2018

California Development Office Western

HFF Arranges $145M Construction Loan for Office Building Renovation, Expansion in San Francisco’s SOMA District

by Amy Works April 20, 2018

SAN FRANCISCO – HFF has arranged $145 million in construction financing for 633 Folsom, a seven-story office building located in the SOMA submarket of San Francisco. The Swig Co. will use the loan proceeds to complete a full-building renovation and expansion, which will add five floors to the property. Once completed, the 171,632-square-foot building will become a 12-story, 266,053-square-foot Class A office building. Originally built in 1967 by The Swig Co., 633 Folsom has been fully leased for the past 20 years, most recently to California Pacific Medical Center. The project is scheduled to commence this summer. Bruce Ganong and Bercut Smith of HFF secured the financing for Swig.

April 20, 2018

Arizona Development Multifamily Seniors Housing Western

BridgeWater Opens 140-Unit Affordable Seniors Community in Midtown Phoenix

by Amy Works April 20, 2018

PHOENIX – BridgeWater Assisted Living has opened BridgeWater Assisted Living Midtown, a 140-unit affordable seniors housing community in Phoenix. This is BridgeWater’s second affordable community in the Phoenix metro. The property is seven stories tall and offers assisted living and memory care services using the Medicaid ALTCS program, which allows Medicaid to pay for services that are normally private pay. Veterans eligible for Wartime Pension may also qualify for supplemental aid and benefits.

April 20, 2018

Newer Posts

Older Posts