Property Type

O,R&L Commercial Brokers $15.5M Sale of Regional Retail Plaza in East Lyme, Connecticut

by Amy Works October 3, 2017

EAST LYME, CONN. — O,R&L Commercial has arranged the sale of Flanders Plaza, a regional shopping center located at 9-19 Chesterfield Road in East Lyme. Developers Consolidated Realty acquired the property from GFP Flanders Plaza LLC for $15.5 million. Situated on 7.2 acres, the 60,000-square-foot property is anchored by CVS/pharmacy, Tri-Town Foods Supermarket, McDonald’s and Citizens Bank. Jay Morris of O,R&L Commercial represented the seller in the deal. Brett Eagleson of Guilford Savings Bank arranged acquisition financing for the buyer.

October 3, 2017

Massachusetts Northeast Retail

NKF Facilitates Sale of Shopping Center in Burlington, Massachusetts

by Amy Works October 3, 2017

BURLINGTON, MASS. — NKF has arranged the sale of The Shops at Mall Road in Burlington. A private equity fund managed by Crow Holdings Capital Partners acquired the 31,623-square-foot shopping center for an undisclosed price. Current tenants at the fully occupied property include Duluth Trading Co., Catherines, Cycl3, Orangetheory Fitness, Wendy’s and Supercuts. Geoffrey Millerd, Justin Smith, Paul Penman and Christopher Peterson of NKF represented the seller, RJ Kelly, in the transaction.

October 3, 2017

New Jersey Northeast Office

NAI Hanson Negotiates Sale of 16,500 SF Office Building in River Edge, New Jersey

by Amy Works October 3, 2017

RIVER EDGE, N.J. — NAI James E. Hanson has brokered the sale of an office building located at 10 Elizabeth St. in River Edge. Crestview Associates sold the 16,500-square-foot property to NJCF Property for an undisclosed price. The buyer, a check cashing service based in Chicago, plans to renovate the property to bring the building, which was constructed in 1983, up to modern standards. Andrew Somple and Anthony Cassano of NAI Hanson represented the seller in the deal.

October 3, 2017

Multifamily Oregon Western

Virtu Investments Purchases Barclay Village in Oregon City for $18.7M

by Nellie Day October 3, 2017

OREGON CITY, ORE. — Virtu Investments has purchased the 146-unit Barclay Village apartments in Oregon City for $18.7 million. The community is located at 775 Cascade St., just south of Portland. Built in 1987, Barclay Village features a mix of one- and two-bedroom units with an average size of 989 square feet. The asset was 97 percent occupied at the time of sale. About half of the units have received modest renovations upon turnover. CBRE’s Phil Oester, Joe Nydahl and Josh McDonald represented the seller, Barclay Cascade Investors, in the transaction.

October 3, 2017

Arizona Industrial Western

Pinnacle Peak Commerce Center in Phoenix Sells for $14.1M

by Nellie Day October 3, 2017

PHOENIX — Nicola Crosby has purchased Pinnacle Peak Commerce Center, a 93,725-square-foot flex/industrial property in Phoenix, for $14.1 million. The facility is located at 23751 N. 23rd Ave., near Interstate 17. All the tenants are relatively new occupants of the building, requiring extensive tenant improvements. Darren Tappen, Peter Beauchamp, Mike Ciosek and Eric Bell of Kidder Mathews represented both the buyer and the seller, Orsett Properties, in the transaction.

October 3, 2017

California Multifamily Seniors Housing Western

Killefer Flammang Architects Completes $12M Conversion of Historic Church to Affordable Seniors Housing

by Nellie Day October 3, 2017

LONG BEACH, CALIF. — Killefer Flammang Architects (KFA) has completed Immanuel Place, an affordable seniors housing community in the Bluff Heights Historic District of Long Beach. The $12 million project converted the 90-year-old Immanuel Church into a 31,000-square-foot, 25-unit community. Thomas Safran & Associates developed the property. The adaptive reuse project preserved the church’s stained-glass windows, pipe organ and three-story sanctuary. The development also moved an adjacent home to another area of Long Beach, making room for a parking lot. Immanuel Place was financed through a combination of Low Income Housing Tax Credit equity from Union Bank, an Infill Grant from the California State Department of Housing and Community Development, a loan from the U.S. Department of Housing and Urban Development (HUD), HOME Investment Partnership Program funds from the City of Long Beach/The Long Beach Community Investment Co., a loan from the Community Development Commission of the County of Los Angeles and funds from the Federal Home Loan Bank. KFA is an architecture and design firm specializing in urban infill and adaptive reuse projects. The company is based in Santa Monica, Calif.

October 3, 2017

Healthcare Texas

Daymark Living Begins Work on 144,853 SF Supportive Housing Project in Metro Dallas

by Taylor Williams October 3, 2017

WAXAHACHIE, TEXAS — Daymark Living, a developer of supportive housing communities, has begun work on a 144,853-square-foot project in the Dallas metro of Waxahachie for adults with learning differences and intellectual delays. Scheduled to be complete in August 2018, the property will feature 28 cottages capable of housing 200 residents and amenities such as resort-style pools, sport courts, computer labs and community grills. Dallas-based Merriman Anderson/Architects is designing the community.

October 3, 2017

Office Texas

CBRE Negotiates 55,000 SF Office Lease Expansion in Plano for Fintech Firm

by Taylor Williams October 3, 2017

PLANO, TEXAS — CBRE has negotiated a 55,000-square-foot office lease expansion for Alkami Technology, a provider of online and mobile banking solutions, at 5601 Granite Parkway in Plano. The company will now occupy approximately 90,000 square feet and two additional floors within the 14-story, 362,000-square-foot building. Jeff Ellerman, Clay Vaughn and Preston Lynn of CBRE represented the tenant, which employs about 275 people in its Dallas office, in the lease negotiations.

October 3, 2017

Industrial Texas

Stream, McCombs Break Ground on 179,655 SF Warehouse in San Antonio

by Taylor Williams October 3, 2017

SAN ANTONIO — Stream Realty Partners and McCombs Properties have broken ground on a 179,655-square-foot warehouse that will be located along Interstate 10 in Gateway10 Business Park on San Antonio’s northeast side. Completion is currently slated for June 2018. Building features will include 32-foot clear heights, 230-foot building depth, 38 dock-high, rear-load doors and ESFR fire suppression.

October 3, 2017

Retail Texas

Weitzman Secures 18,383 SF Retail Lease in San Antonio

by Taylor Williams October 3, 2017

SAN ANTONIO — Weitzman has secured an 18,383-square-foot retail lease at Ingram Festival, a power retail center located at 6003-6005 NW Loop 410 in San Antonio. David Nicolson and Bryan Parman of Weitzman represented the landlord in the lease negotiations. SFP Brokerage LLC represented the tenant, Spec’s Wines, Spirits & Finer Foods. With this new lease, the center is now 100 percent occupied.

October 3, 2017

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