Property Type

CBRE Brokers Sale of 168-Unit Apartment Property in Eagan, Minnesota

by Kristin Harlow December 23, 2016

EAGAN, MINN. — CBRE has brokered the sale of Lexington Hills in Eagan, 15 miles south of St. Paul. The 168-unit property is located at 4116 Lexington Ave. South. The seven-building community recently underwent a $1.8 million renovation including clubhouse expansion with an outdoor lounge, community room, fitness center and outdoor swimming pool. Abe Appert, Keith Collins, Ted Abramson and Laura Hanneman of CBRE represented the seller, Lexington Hills-Minneapolis LLC, an entity controlled by Bellevue, Wash.-based Curtis Capital Group. The buyer was an affiliate of Miami-based Monument Capital Management.

December 23, 2016

Arizona Multifamily Western

MG Properties Purchases Broadstone Scottsdale Horizon Apartments for $51M

by Nellie Day December 23, 2016

SCOTTSDALE, ARIZ. — MG Properties has acquired the 330-unit Broadstone Scottsdale Horizon apartment community for $51 million. The community is located at 9259 E. Raintree Drive in Scottsdale. Common areas include a resort-style pool, resident clubhouse, business center and fitness facility. Broadstone Scottsdale Horizon was built in 1986. JLL’s John Cunningham and Charles Steele represented the seller, a joint venture between Rockwood Capital and Alliance Residential Co.

December 23, 2016

California Retail Western

Marcus & Millichap Facilitates $15.3M Sale of 18,555 SF Shopping Center in Palo Alto

by Nellie Day December 23, 2016

PALO ALTO, CALIF. — Marcus & Millichap has arranged the sale of a 18,555-square-foot neighborhood shopping center located at 2615-2699 Middlefield Road in Palo Alto’s Midtown district. A private family ownership group sold the property to a local investor for $15.3 million, or $822 per square foot. Kirk Trammell, David Cutler and Joshua Johnson of Marcus & Millichap represented the seller in the transaction.

December 23, 2016

Illinois Industrial Midwest

Entre Commercial Arranges $3.2M Sale of 49,516 SF Industrial Building in Metro Chicago

by Kristin Harlow December 23, 2016

LIBERTYVILLE, ILL. — Entre Commercial Realty LLC has arranged the sale of a 49,516-square-foot industrial building in Libertyville, a suburb of Chicago, for $3.2 million. The building is located at 1600-1648 Northwind Blvd. and features 26-foot clear heights, four docks and three drive-in doors. World Bioproducts, a manufacturer of microbiology testing products for the food industry, acquired the facility as part of an expansion and relocation from nearby Mundelein, Ill. Brian Bocci of Entre Commercial represented the buyer, while Dan Tobin of CTK represented the undisclosed seller.

December 23, 2016

California Retail Western

Planet Fitness Rents 21,178 SF of Retail Space in Upland

by Nellie Day December 23, 2016

UPLAND, CALIF. — Planet Fitness has leased retail space at 1028 N. Mountain Ave. in Upland from Smart & Final. The tenant plans to open a 21,178-square-foot gym at the location, which is adjacent to Smart & Final Extra! Pablo Velsaco of Progressive Real Estate Partners represented the landlord, while Lauren Dressler of Oak Place Partners represented the tenant in the deal.

December 23, 2016

Illinois Loans Midwest Restaurant Retail

Maverick Arranges $1.7M First Mortgage Loan for Portillo’s Restaurant in Champaign, Illinois

by Kristin Harlow December 23, 2016

CHAMPAIGN, ILL. — Maverick Commercial Mortage Inc. has arranged a $1.7 million first mortgage loan for a to-be built Portillo’s restaurant in Champaign in central Illinois. The restaurant will be constructed on a 1.4-acre site. The restaurant is expected to open shortly after demolition of the current Home Town Buffet. The six-month loan has two three-month extension options. The fixed-rate, recourse loan is interest only and was funded by a national bridge lender. Jeffrey B. Gurian of BeckerGurian represented the borrower, Berkshire Partners. Bryan Segal of Barack, Ferrazzano, Kirschbaum and Nagelberg LLP represented the lender.

December 23, 2016

California Retail Western

Fred Segal to Open 22,000 SF Flagship Store in West Hollywood

by Nellie Day December 23, 2016

WEST HOLLYWOOD, CALIF. — Fred Segal has signed a long-term lease with CIM Group for 22,000 square feet of ground-level retail space at 8500 Sunset, a residential building on Sunset Boulevard in West Hollywood. Fred Segal Sunset will feature a variety of retail offerings, a café, fitness studio, salon, wine shop, florist and indoor/outdoor restaurant.

December 23, 2016

California Restaurant Retail Western

Buckhorn Grill Leases 6,571 SF Restaurant Space in San Francisco

by Nellie Day December 23, 2016

SAN FRANCISCO — Buckhorn Grill has signed a 10-year lease for a restaurant space located at 619 Market St. in San Francisco. The tenant plans to open a 6,571-square-foot restaurant at the space, which was formerly occupied by Boudin Bakery, in May 2017. Andrew Lindsey of SRS Real Estate Partners represented the tenant, while Mary Kate Banchero and Courtney Griffin of Cushman & Wakefield represented the landlord, CPF 33 New LLC, in the transaction. Buckhorn Grill currently operates 10 restaurants in Northern California.

December 23, 2016

Loans Multifamily North Carolina Southeast

KeyBank Arranges $42.5M Refinancing of Multifamily Portfolio in Wilmington

by John Nelson December 23, 2016

WILMINGTON, N.C. — KeyBank Real Estate Capital has arranged $42.5 million in Freddie Mac loans for the refinancing of a four-property multifamily portfolio in Wilmington. The assets total 695 units and include Hawthorne at New Centre, Hawthorne Commons, Hawthorne Centre North and Hawthorne Lofts. All four properties were constructed between 1990 and 1998 and were renovated in 2014. Timothy DeWispelaere of KeyBank arranged the financing with a 10-year term, five years of interest-only payments and a 30-year amortization schedule.

December 23, 2016

Loans Maryland Retail Southeast

Natixis Provides $26.5M Loan for Shopping Center in Bethesda

by John Nelson December 23, 2016

BETHESDA, MD. — Natixis has provided a $26.5 million, floating-rate loan for Shops of Wisconsin, a 71,748-square-foot neighborhood shopping center in Bethesda. The borrower, Douglas Development, will use the proceeds to refinance the property and provide funds for the tenant improvements of the new Target Express. In addition to the new Target Express, the center also contains nine other national and local tenants, including Trader Joe’s, Gymboree, Jenny Craig and H&R Block.

December 23, 2016

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