Property Type

SVN|Parsons Commercial Facilitates $4.4M Sale of Office Building in Littleton, Massachusetts

by Amy Works January 20, 2017

LITTLETON, MASS. — SVN|Parsons Commercial Group|Boston has brokered the sale of a high-tech office building located at 305 Foster St. in Littleton. Foster Street Acquisitions sold the building to 2641-2651 Santa Anna Avenue LLC for $4.4 million. Situated on 10.3 acres, the building offers 80,064 square feet of office space for high-tech and R&D tenants. At the time of sale, the property was more than 80 percent occupied. Marci Alvarado, Jake Parsons and Marilyn Santiago of SVN|Parsons represented the seller in the transaction.

January 20, 2017

Connecticut Industrial Northeast

J. Philip Commercial Brokers $2.3M Sale of Industrial Building in Stamford, Connecticut

by Amy Works January 20, 2017

STAMFORD, CONN. — J. Philip Commercial Group Brokerage has arranged the sale of an industrial building located at 184 Selleck St. in Stamford. Dr. Philip Putter of Spot On Veterinary acquired the building from Tom Anderson and John Savage of Hathaway, Reiser & Raymond for $2.3 million. The buyer will use the 16,000-square-foot building for his Spot On Veterinary practice. Fritz Chery of J. Philip Commercial represented the seller and buyer in the deal.

January 20, 2017

Mixed-Use Multifamily Northeast Pennsylvania Retail

Marcus & Millichap Negotiates $2M Sale of Mixed-Use Property in Philadelphia

by Amy Works January 20, 2017

PHILADELPHIA — Marcus & Millichap has brokered the sale of a two-building mixed-use property located at 4343-4345 Main St. in Philadelphia’s Manayunk neighborhood. An undisclosed buyer acquired the property for $2 million, or $231,666 per unit. The asset features eight studio, one- and two-bedroom apartments and one retail unit, which is leased to Chabaa Thai and Binto. Phil Sharrow and Jonathan Massaro of Marcus & Millichap represented the undisclosed seller and secured the buyer. Additionally, Sharrow and Massaro worked with Matthew Rosenberg of Marcus & Millichap Capital Corp. to arrange a 10-year acquisition loan for the buyer.

January 20, 2017

Georgia Industrial Southeast

Z Gallerie to Open 225,000 SF Warehouse in West Atlanta

by John Nelson January 20, 2017

LITHIA SPRINGS, GA. — Z Gallerie, a Los Angeles-based furniture retailer, plans to open a 225,000-square-foot warehouse within Skyview Business Center in Lithia Springs, about 18 miles west of Atlanta via Interstate 20. The property will house the home furnishings retailer’s East Coast presence, as the company currently supports all 68 of its stores and online orders from one warehouse on the West Coast. Z Gallerie operates two stores in the Atlanta area: Atlantic Station and Perimeter Mall. The facility will feature office and warehouse space, 34 loading docks, two drive-in bays, 32-foot clear heights, an ESFR sprinkler system and T5 lighting. The property represents a $3.7 million investment on behalf of Z Gallerie. The company plans to be fully operational in 2019 and create 115 jobs at the new facility. Steve Grable and Barry Hill of JLL represented Z Gallerie in the lease negotiations. Trey Barry, Todd Barton and Greg Haynes of CBRE represented the landlord, Huntington Industrial Partners.

January 20, 2017

Georgia Multifamily Southeast

StoneBridge Acquires Apartment Community in Metro Atlanta for $31M

by John Nelson January 20, 2017

SANDY SPRINGS, GA. — Washington, D.C.-based StoneBridge Investments has acquired 550 Abernathy Apartments, a 228-unit multifamily property located at 550 Abernathy Road N.E. in Sandy Springs, a suburb of Atlanta in Fulton County. StoneBridge purchased the property from an entity controlled by Harbor Group for $31 million. 550 Abernathy is located within Atlanta’s Central Perimeter submarket, which features three major hospitals situated on “Pill Hill,” the 1.5 million-square-foot Perimeter Mall and more than 31 million square feet of office space, including the new East Coast hub for State Farm and the new headquarters for Mercedes-Benz USA, set to open in 2018. StoneBridge plans to upgrade the community’s interiors with granite countertops, more open floor plans and hard-surface flooring. The firm will also add to the property’s newly renovated clubhouse and pool with outdoor additions including poolside cabanas, a fire pit and an outdoor kitchen. Other planned upgrades include building exteriors and landscaping. Kevin Geiger of CBRE represented the seller in the transaction. ZRS Management, an affiliate of StoneBridge, will manage 550 Abernathy.

January 20, 2017

Industrial North Carolina Southeast

Reger Holdings Acquires 222,596 SF Industrial Property in Charlotte

by John Nelson January 20, 2017

CHARLOTTE, N.C. — Reger Holdings has purchased a 222,596-square-foot industrial building located at 1000 Exchange St. in Charlotte. The western New York-based investment firm plans to convert the freezer/cooler building into a dry warehouse property. The building is rail-served by CSX and features outdoor storage capabilities. Rob Speir and Don Moss of Colliers International’s Charlotte office brokered the transaction and will be retained as the property’s leasing agents. Reger Holdings owns more than 4 million square feet of industrial real estate space in the Carolinas. The sale price and seller were not released.

January 20, 2017

Florida Healthcare Loans Southeast

Tremont Realty Capital Structures $16.3M Refinancing for Medical Office Building in Jacksonville

by John Nelson January 20, 2017

JACKSONVILLE, FLA. — Tremont Realty Capital, a subsidiary of The RMR Group LLC, has arranged a $16.3 million loan for the refinancing of Jacksonville Medical Plaza, a 132,488-square-foot, multi-tenant medical office complex in Jacksonville. The non-recourse, CMBS loan features a 10-year term, fixed 5.26 percent interest rate and a 30-year amortization schedule. The name of the borrower wasn’t disclosed.

January 20, 2017

Florida Retail Southeast

The Shopping Center Group, Avison Young Broker $12.6M Sale of Publix-Anchored Center

by John Nelson January 20, 2017

NORTH PALM BEACH, FLA. — The Shopping Center Group and Avison Young have teamed up to broker the $12.6 million sale of Northlake Promenade Shops, a nearly 83,000-square-foot shopping center located at the southwest corner of Northlake Boulevard and Federal Highway in North Palm Beach. Situated on 21 acres, the Publix-anchored shopping center includes outparcels occupied by CVS/pharmacy, Chase Bank and BP Gas. The property also features land available for development. Woolbright Development purchased Northlake Promenade Shops from a private investment firm based in Canada. Anthony Blanco of The Shopping Center Group and David Duckworth and A.J. Belt III of Avison Young represented the seller in the transaction.

January 20, 2017

Multifamily Texas

Fort Capital Begins Developing 72-Unit Multifamily Property in Fort Worth

by Amy Works January 20, 2017

FORT WORTH, TEXAS — Fort Capital has begun development on Fort201, a multifamily property located within The Foundry in Fort Worth’s West 7th Street District. The two-building property will feature 72 studio, one- and two-bedroom apartment residences with rents starting at $1,075 per month. The units will feature high-tech capabilities, Carrara marble countertops, stainless steel appliances and an electronic doorman. Construction is slated for completion later this year. The Foundry is a mixed-use development headed by M2G Ventures.

January 20, 2017

Illinois Loans Midwest Multifamily

Eugenie Terrace Associates Receives $125M Loan for Refinancing of Luxury Apartment Tower

by Kristin Harlow January 20, 2017

CHICAGO — Eugenie Terrace Associates LLC has received a $125 million loan for the refinancing of Eugenie Terrace in Chicago. The 44-story tower includes 575 luxury apartment units. The building is located at 1730 N. Clark St. in Chicago’s Lincoln Park neighborhood. An international life insurance company provided the 10-year, fixed-rate loan. The building was originally constructed in 1988 and previously financed in 2007. Matthew Schoenfeldt and Mike Kavanau of HFF secured the loan and represented the borrower in the transaction.

January 20, 2017

Newer Posts

Older Posts