Property Type

Cooper Commercial Arranges $4.4M Sale of Goodwill Property in Columbus, Ohio

by Kristin Harlow August 4, 2017

COLUMBUS, OHIO — Cooper Commercial Investment Group has arranged the sale of a single-tenant property occupied by Goodwill in the suburban Columbus community of Dublin for $4.4 million. The 22,000-square-foot building was renovated to accommodate Goodwill, which had previously occupied a 9,400-square-foot space on Sawmill Road. Dan Cooper of Cooper Commercial represented the seller, a Columbus-based private investment group. The buyer, a Columbus-based private investor, purchased the property at nearly 99 percent of the list price.

August 4, 2017

Illinois Midwest Restaurant Retail

Veggie Grill to Open First Midwest Location in Chicago

by Kristin Harlow August 4, 2017

CHICAGO — Veggie Grill has unveiled plans to open its first restaurant in Chicago, the first of the Midwest region. The vegetarian fast casual brand will open a 2,000-square-foot restaurant at 614 W. Diversey Parkway this fall. The restaurant will serve lunch and dinner, as well as provide online ordering and delivery services. Specialty menu items include the VG beyond burger, Santa Fe crispy chickin’ sandwich, quinoa power salad and Sonoran bowl. Founded in 2006, Veggie Grill currently operates 28 locations throughout California, Oregon and Washington. The company plans to open several Chicago locations over the next few years.

August 4, 2017

Florida Hospitality Mixed-Use Southeast

Joint Venture Breaks Ground on 140-Room Hotel Indigo at Gainesville’s Celebration Pointe

by Camren Skelton August 4, 2017

GAINESVILLE, FLA. — Peachtree Hotel Group (PHG), in a joint venture with Celebration Pointe Holdings (CPH), has broken ground on a 140-room Hotel Indigo in Gainesville. Situated between S.W. 49th and S.W. 50th Terraces, the six-story hotel will be one of the anchor tenants of Celebration Pointe, a 150-acre mixed-use development, located along Interstate 75 and Archer Road. Hotel Indigo Gainesville will feature a neighborhood bar with seasonal and locally sourced food. Atlanta-based PHG will operate the property, which is slated to open in August 2018. In addition to the hotel, Celebration Pointe will feature 300,000 square feet of Class A office space; 400,000 square feet of retail, restaurants and entertainment, including Bass Pro Shops and a Regal RPX theater; and approximately 900 residential units.

August 4, 2017

Georgia Office Southeast

Financial Tech Firm to Relocate Headquarters to Bank of America Plaza in Midtown Atlanta

by Camren Skelton August 4, 2017

ATLANTA — Gro Solutions, a banking software firm, has revealed plans to relocate its headquarters from Johns Creek, Ga., to Bank of America Plaza in Atlanta’s Midtown district. The startup will move to the 37th floor of the tower, the tallest building in the Southeastern U.S., and initially lease around 6,000 square feet, according to the Atlanta Business Chronicle. Gro plans to use the new space to host customer and partner visits, in addition to day-to-day job functions including management, sales, marketing, development and implementation. The company will relocate during the fourth quarter.

August 4, 2017

Georgia Multifamily Southeast

Covenant Capital Sells Apartment Community in Metro Atlanta for $32M

by Camren Skelton August 4, 2017

SANDY SPRINGS, GA. — Covenant Capital Group LLC has sold Veridian Sandy Springs, a 272-unit multifamily community located at 1800 Windridge Drive in Sandy Springs, roughly 17 miles north of Atlanta. Veridian Sandy Springs Apartment LP acquired the property for $32 million. Nashville-based Covenant originally purchased the apartment community in August 2013 for $15.3 million, and invested $4.8 million in updates and renovations, including new exterior siding and windows, new appliances and granite countertops in units, renovation of the clubhouse and new equipment in the fitness center. Veridian Sandy Springs also features a lighted tennis court, swimming pool, grilling areas and a dog park.

August 4, 2017

California Retail Western

CBRE, NRP-West Arrange Sale of Grocery-Anchored Shopping Center in Bakersfield

by Nellie Day August 4, 2017

BAKERSFIELD, CALIF. — CBRE in conjunction with the National Retail Partners-West (NRP-West) team has brokered the sale of Riverlakes Village, a grocery-anchored shopping center in Bakersfield. Crow Holdings Capital Real Estate sold the 92,212-square-foot property to Phillips Edison Grocery Center REIT II for an undisclosed price. At the time of sale, the center was 97 percent leased to a variety of tenants, including Vons, CVS/pharmacy, US Bank, Starbucks Coffee, Chipotle, Supercuts, Verizon Wireless, Carl’s Jr. and Bank of America. Built in 1997, RIverlakes Villages consists of six parcels totaling 9.5 acres at the southeast corner of Coffee and Hageman roads. Philip Voorhees, Preston Fetrow, Kirk Brummer, Jimmy Slusher, Megan Wood, Matt Burson, Sean Heitzler, James Tyrrell and John Read of CBRE and the NPR-West team represented the seller.

August 4, 2017

Mixed-Use Multifamily New York Northeast Retail

Lalezarian Properties Tops Out 38-Story Mixed-Use Tower in Manhattan

by Amy Works August 4, 2017

NEW YORK CITY — Lalezarian Properties has topped out 515 West 36th Street, a mixed-use tower located on Manhattan’s West Side. Designed by Ismael Leyva Architects, the 38-story, 248,000-square-foot tower will feature 13,000 square feet of commercial retail space on the cellar level, groundfloor and third floor; parking on the second floor; a community facility on the fourth through seventh floors; and residential space, totaling 251 units, on the remaining floors. Completion is tentatively slated for spring 2018.

August 4, 2017

Louisiana Retail Southeast

Chase Properties Acquires 242,000 SF Shopping Center in Houma, Louisiana

by Camren Skelton August 4, 2017

HOUMA, LA. — Chase Properties Ltd. has purchased Magnolia Square, a 242,000-square-foot shopping center in Houma, located roughly 60 miles southwest of New Orleans. Retail Properties of America Inc. (RPAI) sold the asset for an undisclosed price. HFF brokered the transaction. The property is anchored by Ross Dress for Less, Michaels and PetSmart, and is shadow-anchored by Target. Magnolia Square is Beachwood, Ohio-based Chase Properties’ first acquisition in Louisiana.

August 4, 2017

California Retail Western

Albanese Cormier Enters California Market with Acquisition of Retail Center in Susanville

by Nellie Day August 4, 2017

SUSANVILLE, CALIF. — Albanese Cormier Holdings has acquired a retail community center located at 2545 Main St. in Susanville. Phillips Edison Co. sold the 79,187-square-foot property for an undisclosed price. At the time of sale, the property was 93 percent occupied by a variety of retailers, including Aaron’s, Anytime Fitness, Big 5 Sporting Goods, the California Department of Motor Vehicles, Dollar Tree, Ross Dress for Less and Verizon Wireless. Eric Wohl of Hanley Investment Group represented the buyer, while CBRE represented the seller in the deal.

August 4, 2017

Loans Northeast Office Rhode Island

Fantini & Gorga Arranges $21M in Refinancing for Office Condo Portfolio in Warwick, Rhode Island

by Amy Works August 4, 2017

WARWICK, R.I. — Fantini & Gorga has arranged a $21 million first mortgage to refinance office condominium space at The Summit, Jefferson Gateway and Metro East office parks, located within one mile of each other at 300 Centerville Road, 931 and 935 Jefferson Blvd. and 117 Metro Center Blvd. in Warwick. Totaling 160,000 square feet of office space, the parks are fully occupied three- and four-story buildings featuring ample parking, landscaped grounds and efficient and flexible floor plans. Jason Cunnane and Tim O’Donnell of Fantini & Gorga arranged the financing for the undisclosed borrower.

August 4, 2017

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