Property Type

HFF Arranges $7M in Acquisition Financing for Warehouse Building in Linden, New Jersey

by Amy Works November 18, 2016

LINDEN, N.J. — HFF has arranged $7 million in acquisition financing for a warehouse and distribution building located at 1501-1525 W. Blancke St. in Linden. The borrower, Penwood Real Estate Investment Management, will use proceeds of the loan to purchase the building and fund immediate and future capital expenditures, tenant improvements and leasing commissions. Vantage Specialty Chemicals and HelloFresh occupy the 115,913-square-foot facility. Michael Klein of HFF arranged the five-year, fixed-rate loan with First Bank New Jersey for the borrower.

November 18, 2016

Industrial New Jersey Northeast

Terreno Realty Corp. Acquires Industrial Property in Carlstadt, New Jersey, for $5M

by Amy Works November 18, 2016

CARLSTADT, N.J. — Terreno Realty Corp. has acquired an industrial property, located at 248 Paterson Plank Road in Carlstadt, for $5 million. Situated on 5.2 acres, the 31,000-square-foot property features 64 dock-high and two grade-level loading positions, parking for 25 cars and trailer storage. At the time of sale, the property was fully leased to two tenants. The name of the seller was not released.

November 18, 2016

Multifamily New Jersey Northeast Seniors Housing

Marquis Health Services Completes $2.8M Renovation at Willow Springs in Brick, New Jersey

by Amy Works November 18, 2016

BRICK, N.J. — Marquis Health Services, the healthcare affiliate of Tryko Partners LLC, has completed a $2.8 million renovation and repositioning of Willow Springs Rehabilitation and Healthcare Center in Brick. Located at 1049 Burnt Tavern Road, the property features 148 skilled nursing beds, an expanded rehabilitation therapy gym, a putting green, gourmet coffee lounge and updated common areas and patient rooms.

November 18, 2016

Midwest Missouri Office

CBRE Arranges Sale of 520,431 SF Office Building in Kansas City

by Kristin Harlow November 18, 2016

KANSAS CITY, MO. — CBRE has arranged the sale of Two Pershing Square, a 520,431-square-foot office building in Kansas City. The sales price was not disclosed. The Class A office building, located at 2300 Main St., is 11 stories and anchored by GSA’s Heartland Region office. VanTrust Real Estate LLC purchased the asset from TA Associates. Gina Anderson and Gary Carr of CBRE arranged the transaction on behalf of TA Associates.

November 18, 2016

Industrial Midwest Wisconsin

Avison Young Arranges Sale of 249,000 SF Industrial Facility in Milwaukee

by Kristin Harlow November 18, 2016

MILWAUKEE — Avison Young has arranged the sale of a 249,753-square-foot industrial facility located at 2300 S. 51st St. in Milwaukee. The sales price was not disclosed. Oilgear, a producer of hydraulic pumps, valves and related equipment, sold the facility to relocate production to existing facilities in Fremont, Neb. and Traverse City, Mich. Tom Curtis and Mike McKiernan of Avison Young represented Oilgear in the transaction. Global Power Components was the buyer.

November 18, 2016

Illinois Midwest Retail

Quantum Brokers $4.5M Sale of 42,588 SF Retail Center in Palatine, Illinois

by Kristin Harlow November 18, 2016

PALATINE, ILL. — Quantum Real Estate Advisors Inc. has brokered the sale of a 42,588-square-foot retail center in Palatine, a northwestern suburb of Chicago, for $4.5 million. The multi-tenant center is located at 801-861 N. Quentin Road., and includes tenants such as Anytime Fitness, Papa John’s Pizza and H&R Block. A commercial real estate fund based in Denver was the buyer. Chad Firsel of Quantum Real Estate Advisors represented the seller, a Chicago-based investment group.

November 18, 2016

Illinois Midwest Restaurant Retail

Novak Construction Completes 9,000 SF Portillo’s Restaurant in Deerfield, Illinois

by Kristin Harlow November 18, 2016

DEERFIELD, ILL. — Novak Construction has completed the construction of a 9,000-square-foot Portillo’s restaurant in Deerfield, approximately 25 miles north of Chicago. The building is located at 700 Lake Cook Road. Novak’s work on the development included the demolition of an existing building, new site utilities, curbs and asphalt paving. The restaurant opened on Tuesday, Nov. 15.

November 18, 2016

Michigan Midwest Office

Gerdom Realty Arranges Sale of 19,798 SF Office Building in Walled Lake, Michigan

by Kristin Harlow November 18, 2016

WALLED LAKE, MICH. — Gerdom Realty & Investment has arranged the sale of a 19,798-square-foot office building in Walled Lake, a northern suburb of Detroit. The sales price was not disclosed. The office building is situated on 4.1 acres at Ladd Road, just south of Maple Road. A Detroit-based church was the buyer. Michael Murphy and Tjader Gerdom of Gerdom Realty represented the seller in the transaction.

November 18, 2016

Industrial Kentucky Retail Southeast

Angel’s Envy to Open Downtown Louisville’s First Full-Production Whiskey Distillery Tomorrow

by John Nelson November 18, 2016

LOUISVILLE, KY. — Angel’s Envy, a Kentucky bourbon distiller that’s part of the Bacardi Limited portfolio, plans to open its new distillery and visitor center to the public tomorrow. The facility is located at 500 E. Main St. at Jackson, the first full-production whiskey distillery in downtown Louisville. Following a $27 million renovation since breaking ground in 2013, the distillery will house the Angel’s Envy operations, including the milling of grains, blending and bottling on-site. The property is the former Vermont American and Baer Fabrics Warehouse and features the original exterior walls, vaulted ceilings and arched windows. The facility will also feature a visitor center and gift shop. Louisville-based Vendome Copper & Brass Works fashioned a 35-foot-tall column still, pot still and doubler for the distilling process at the property.

November 18, 2016

Retail Southeast Virginia

Lidl Purchases Third Land Site in Fredericksburg for New Grocery Store

by John Nelson November 18, 2016

FREDERICKSBURG, VA. — Lidl, a German grocery retailer that has been expanding recently in Virginia, has purchased 6.3 acres of land on Warrenton Road in Fredericksburg for $2.6 million. Lidl plans to develop a new grocery store at the site, which is situated near the Stafford Lakes Super Walmart. The site is the third parcel that the grocer has purchased in the greater Fredericksburg area and roughly the 20th in the state. The other two Fredericksburg stores are underway at 5455 Plank Road and 10110 Southpoint Parkway. Brian Cunningham of Coldwell Banker Commercial Elite represented the former land owner in the sale, and the firm’s Jonathan Gardner assisted Lidl in the site selection process and negotiating the transaction. Lidl is also underway on its $125 million, 1 million-square-foot distribution facility at 6120 Smith Station Road, which is expected to create 200 local jobs.

November 18, 2016

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