Property Type

IPA Brokers $16.1M Sale of Industrial Portfolio in Tampa Bay Area

by Camren Skelton August 31, 2017

TAMPA AND ST. PETERSBURG, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $16.1 million sale of a two-property industrial portfolio in the Tampa Bay area — Airport Corporate Center, located at 6702-6712 Benjamin Road in Tampa, and Bay Tec Center, located at 2810-2880 Scherer Drive in St. Petersburg. Douglas Mandel of IPA arranged the transaction on behalf of the seller, Massachusetts-based Calare Properties. The IPA team also procured the buyer, California-based Avistone. The properties include 14 buildings totaling 231,867 square feet.

August 31, 2017

Retail Southeast Tennessee

Chase Properties Purchases 268,000 SF Retail Center in Jackson, Tennessee

by Camren Skelton August 31, 2017

JACKSON, TENN. — Chase Properties Ltd. has acquired The Columns, a 268,000-square-foot shopping center in Jackson. The shopping center is home to tenants including Ross Dress for Less, Best Buy, Old Navy, Marshalls and Bed Bath & Beyond. Kohl’s, Ulta Beauty, Dick’s Sporting Goods and Hobby Lobby shadow-anchor the property. Retail Properties of America Inc. sold the asset for an undisclosed price. Disney Investment Group brokered the sale. The transaction marks Beachwood, Ohio-based Chase Properties’ third acquisition in the past year.

August 31, 2017

Georgia Office Southeast

Redline Acquires 98,000 SF Office Building in Metro Atlanta

by Camren Skelton August 31, 2017

PEACHTREE CORNERS, GA. — Redline Property Partners has purchased 2 Sun Court, a 98,000-square-foot office building in Peachtree Corners, a city roughly 23 miles north of Atlanta. The sales price was not disclosed. MidCap Financial provided financing for the acquisition. Redline plans to rebrand and renovate the property, including developing additional amenity space on the property’s excess land. Grover Corlew will manage the property, and Matt Davis and Matt Fergus of Lincoln Property Co. will handle the leasing assignment. The acquisition marks Atlanta-based Redline’s first investment in its home market.

August 31, 2017

Indiana Midwest Retail

Berengaria Development Acquires 277,000 SF Retail Center in Valparaiso, Indiana

by Kristin Harlow August 31, 2017

VALPARAISO, IND. — Berengaria Development LLC has acquired Porter’s Vale Shopping Center in Valparaiso in northwestern Indiana for an undisclosed price. The 277,059-square-foot shopping center is located along Highway 49. The property was 96 percent leased at time of purchase to tenants including Dick’s Sporting Goods, Five Below, Home Goods, Hobby Lobby, Party City, Cinemark, Kirkland’s, Gordman’s, McAllister’s Deli, Massage Envy and Mattress Firm. A 103,000-square-foot J.C. Penney shadow anchors the property. A 190,000-square-foot Meijer store will be completed in summer 2018. Paul Barile of Transwestern represented the undisclosed seller in the transaction.

August 31, 2017

Midwest Office Wisconsin

Gialamas Co., Livesey Co. to Develop 150,000 SF Office Building for NSI in Madison, Wisconsin

by Kristin Harlow August 31, 2017

MADISON, WIS. — National Specialty Insurance (NSI) has commissioned The Gialamas Co. and The Livesey Co. to develop a 150,000-square-foot office building in Madison. The building will accommodate NSI’s current space needs of 80,000 square feet, while also providing it with the opportunity to expand to 150,000 square feet. The building will be located in the last large remaining parcel of Old Sauk Trails Office Park. In addition to being a tenant in the building, West Bend Insurance (NSI’s parent company) will also be a 50/50 partner in the building. Iconica will oversee design and construction of the building, which is slated for completion in December 2017. NSI will occupy the property in January 2018. NSI offers insurance products for child care, social services, detective and security programs.

August 31, 2017

Healthcare Midwest Missouri

McGrath Completes Construction of NICU at Hospital in O’Fallon, Missouri

by Kristin Harlow August 31, 2017

O’FALLON, MO. — McGrath & Associates has completed construction of a neonatal intensive care unit (NICU) within the Childbirth Center at Progress West Hospital in O’Fallon. The eight-bed NICU will allow the hospital to care for premature babies born as early as 32 weeks after pregnancy. The NICU features eight newborn intensive care beds throughout a special care nursery, procedure room and baby nursery. Fox Architects was the project architect.

August 31, 2017

Midwest Mixed-Use Ohio

OnSite Retail Group to Lease $140M District at Deerfield in Cincinnati

by Kristin Harlow August 31, 2017

CINCINNATI — OnSite Retail Group will oversee leasing of the retail portion of The District at Deerfield, a $140 million mixed-use development in Cincinnati. The development spans 28 acres between Mason-Montgomery Road and Wilkens Boulevard. In partnership with Deerfield Township, the property will feature a community park. The green space’s town-square design will be surrounded by dining and retail establishments. The developer, Silverman & Co., will break ground on the project’s initial residential components later this fall. The property will feature 242 luxury apartments in four buildings, along with a pool, clubhouse and leasing office.

August 31, 2017

Illinois Midwest Retail

Broad Reach Acquires 70,000 SF Shopping Center in Wood River, Illinois

by Kristin Harlow August 31, 2017

WOOD RIVER, ILL. — Broad Reach Retail Partners has acquired the Wood River Centre in Wood River, located 15 miles north of St. Louis. The purchase price was not disclosed. A Walmart Supercenter anchors the 70,000-square-foot shopping center. The center is 60 percent occupied by tenants including Dollar Tree, H&R Block, Sally Beauty, Taco Bell and Wendy’s.

August 31, 2017

California Loans Multifamily Western

Capital One Provides $49.8M Refinancing for Riverview Springs Apartments in Oceanside

by Nellie Day August 31, 2017

OCEANSIDE, CALIF. — Capital One has provided a $49.8 million loan to refinance the 358-unit Riverview Springs apartments in Oceanside. The community is located at 4398 Rainier Way. Riverview Springs was built by Spruce Grove in 1990. The 10-year, fixed-rate, interest-only, Freddie Mac loan has standard defeasance prepayment. Chuck Christensen originated the financing.

August 31, 2017

California Multifamily Western

Pathfinder Partners Purchases 195-Unit Apartment Complex in Sacramento for $22M

by Nellie Day August 31, 2017

SACRAMENTO, CALIF. — Pathfinder Partners has acquired the 195-unit Savannah Court apartments in Sacramento for $22 million. The community is located at 4337 Norwood Ave. The 24-buillding community was built in 1986. Amenities include a fitness center, swimming pool and spa and a tennis court. CBRE’s Marc Ross represented both Pathfinder and the seller in this transaction.

August 31, 2017

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