Property Type

Cushman & Wakefield Arranges Sale of 233-Unit Seniors Housing Community in Laguna Hills

by Nellie Day January 16, 2017

LAGUNA HILLS, CALIF. — Cushman & Wakefield has arranged the sale of The Wellington, a 233-unit independent living and assisted living community in the Los Angeles suburb of Laguna Hills. The luxury community is located next to a master-planned, age-restricted community with over 14,000 residents. The buyer, which was not disclosed, has brought in San Diego-based Senior Resources Group to manage the property. David Rothschild, Mary Christian and Allen McMurty of Cushman & Wakefield’s National Senior Housing Investment Advisory represented the undisclosed seller in the transaction.

January 16, 2017

Arizona Industrial Western

Manna Distribution Services Leases Industrial Space in Phoenix

by Nellie Day January 16, 2017

PHOENIX — Manna Distribution Services has leased 37,000 square feet of industrial space at Phoenix Star Commerce Park in Phoenix. The space is located at 2110 S. 7th Ave. The national delivery company’s Phoenix location will join other U.S. outposts, including Portland, Ore., Los Angeles, Chicago, New Orleans and St. Louis, Mo. Keri Davies and Jon Rosenberg of Levrose Commercial Real Estate and Paramount represented the tenant, while Lee & Associates represented the landlord.

January 16, 2017

California Retail Western

California-Based Restaurant Group Plans To Double International Locations

by Nellie Day January 16, 2017

GLENDALE, CALIF. — DineEquity Inc., a full-service restaurant group that includes the IHOP and Applebee’s brands, has signed four new multi-unit development agreements in the Middle East, Asia Pacific and Latin America. The agreements are part of the company’s plan to double its number of international locations over the next five years. Since the beginning of 2014, 80 new international restaurants have opened. In addition, during that same time frame, DineEquity nearly tripled the international development pipeline to more than 200 restaurants. DineEquity plans to spread the IHOP to Thailand and India and extend the Applebee’s brand in the Middle East to six locations in Bahrain and Oman by 2023. The company has also planned five new Applebee’s locations in Panama by 2021. Based in Glendale, Calif., DineEquity owns, operates and/or franchises more than 3,700 restaurants in all 50 U.S. states and 17 countries.

January 16, 2017

Massachusetts Mixed-Use Multifamily Northeast Office Restaurant Retail

Boylston Properties, The Wilder Cos. Receive Approval for Mixed-Use Development in Watertown, Massachusetts

by Amy Works January 16, 2017

WATERTOWN, MASS. — The Watertown Planning Board unanimously approved the development of Arsenal Yards, a mixed-use project at the former Arsenal Mall in Watertown. Developers Boylston Properties and The Wilder Cos. plan to add a mixed-use project featuring 350,000 square feet of retail and entertainment space and 500 residences to the existing 100,000 square feet of office space. Construction is slated to begin in six to eight months. The project will feature chef-driven restaurants, a specialty grocery, a wine superstore, a cinema, market-rate and affordable apartments, and a combination of boutiques and national retailers.

January 16, 2017

Northeast Office Pennsylvania

Gladstone Commercial Buys 103,334 SF Office Building in King of Prussia, Pennsylvania, for $25.5M

by Amy Works January 16, 2017

KING OF PRUSSIA, PA. — Gladstone Commercial has acquired an office building, located at 935 First Ave. in King of Prussia, in a sale-leaseback transaction for $25.5 million. Radial Inc. sold the property and will continue to lease the four-story, 103,334-square-foot facility, which serves as the company’s headquarters, for 15 years. Robert Fahey, Jerry Kranzel and Erin Hannan of CBRE represented the seller in the deal.

January 16, 2017

Loans New York Northeast Retail

The Klein Group, Sterling Properties Receive $17.5M in Refinancing for Retail Center in Warren, New Jersey

by Amy Works January 16, 2017

WARREN, N.J. — The Klein Group and Sterling Properties Group have received $17.5 million in refinancing for Warren Village Shopping Center, a grocery-anchored retail center in Warren. Loan proceeds will be used to refinance existing debt. The 10-year, fixed-rate loan was provided by a life company. Kings Supermarket, Country Squire Restaurant, Peapack-Gladstone Bank, Massage Envy, Remax, European Wax Center, Starbucks Coffee, Edgewood Pharmacy, Impact Martial Arts and The UPS Store occupy the 99.3 percent leased center. Jon Mikula and Jim Cadranell of HFF arranged the financing for the borrower.

January 16, 2017

Connecticut Industrial Northeast

Sentry Commercial Brokers 59,100 SF Industrial Lease in Windsor, Connecticut

by Amy Works January 16, 2017

WINDSOR, CONN. — Sentry Commercial has arranged the lease of an industrial facility located at 4 Market Circle in Windsor. A&S Innersprings USA leased the 59,100-square-foot building, which is situated on 7.5 acres, from Market Circle LLC. Sentry Commercial represented the undisclosed landlord, while Cushman & Wakefield represented the tenant in the deal.

January 16, 2017

Retail Texas

EDGE Capital Markets Negotiates Sale of 11,981 SF Retail Property in Houston

by Amy Works January 16, 2017

HOUSTON — EDGE Capital Markets has arranged the sale of Briar Forest Plaza, a retail property located at 13346 Briar Forest Drive in Houston. At the time of sale, the 11,981-square-foot property was fully leased. Josh Jacobs and Burdette Huffman of EDGE Capital Markets represented the undisclosed seller, while Mark Kalil of Mark Kalil & Associates represented the undisclosed buyer in the deal. The acquisition price was not released.

January 16, 2017

Industrial Oklahoma Texas

CBRE Brokers $2.1M Sale of Industrial Facility in Oklahoma City

by Amy Works January 16, 2017

OKLAHOMA CITY — CBRE has arranged the sale of an industrial property located at 2330 N.W. 10th St. in Oklahoma City. Interstate Real Estate Co. sold the 43,442-square-foot property to SFI 10th Street LLC for $2.1 million. Caitlin Mazaheri, John Lenochan and Jason Hammock of CBRE represented the seller, while Brett Price with Newmark Grubb Levy Strange Beffort represented the buyer in the deal.

January 16, 2017

Multifamily Texas

Marcus & Millichap Facilitates Sale of 72-Unit Multifamily Property in Brownsville, Texas

by Amy Works January 16, 2017

BROWNSVILLE, TEXAS — Marcus & Millichap has brokered the sale of Jefferson Square, a multifamily property located at 230 W. Jefferson St. in Brownsville. A private investor acquired the 72-unit property for an undisclosed price. Built in 1981, the property features 36 one-bedroom/one-bath units and 36 two-bedroom/one-bath units. Mike Moffitt Jr. of Marcus & Millichap represented the seller, a partnership, and secured the buyer in the transaction.

January 16, 2017

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