Property Type

Millennium Properties Brokers Sale of Two Retail Centers in Suburban Chicago

by Kristin Harlow June 22, 2017

BARRINGTON AND ELMHURST, ILL. — Millennium Properties has brokered the sale of two retail centers in suburban Chicago. The sales prices were not disclosed. Chet Evans of Millennium brokered the sale of a 9,800-square-foot retail center located at 121-141 S. Northwest Highway in Barrington. The two-building center is fully leased to five tenants including JC Licht Benjamin Moore and Farmers Insurance. Brad Thompson of Millennium brokered the sale of a 9,667-square-foot building located at 110-112 W. Park Ave. in Elmhurst. The property features a mix of retail, restaurant and office space and is fully leased to tenants such as Lou Malnati’s.

June 22, 2017

Illinois Industrial Midwest

Ice Mobility Signs 98,735 SF Industrial Lease in Lincolnshire, Illinois

by Kristin Harlow June 22, 2017

LINCOLNSHIRE, ILL. — Ice Mobility has signed a 98,735-square-foot industrial lease in Lincolnshire, a northern suburb of Chicago. The distributor of wireless products and provider of supply-chain solutions will occupy the entire building located at 610 Schelter Road. Built in 2009, the warehouse facility contains 30-foot clear heights and 12,000 square feet of office space. Ice Mobility will relocate from Vernon Hills, Illinois. Keith Puritz, Brett Kroner and Eric Fischer of Cushman & Wakefield arranged the lease transaction on behalf of the property owner, Industrial Property Trust Inc. Tom Condon of Lee & Associates represented the tenant.

June 22, 2017

Midwest Missouri Retail

Block & Co. Arranges Sale of 7,670 SF Shopping Center in Kansas City, Missouri

by Kristin Harlow June 22, 2017

KANSAS CITY, MO. — Block & Co. Inc. Realtors has arranged the sale of Sherrydale Shopping Center in Kansas City for an undisclosed price. The 7,670-square-foot retail center is located on 1.3 acres at the southwest corner of 152 Highway and North Oak Trafficway. David M. Block and Jody Minder of Block & Co. arranged the sale on behalf of the sellers, Top 29 Sherydale LLC and North 152 Partners LLC. Rubenstein Real Estate Co. LLC represented the undisclosed buyer.

June 22, 2017

Michigan Midwest Office

Farbman Group Completes Renovation of Office Property in Southfield, Michigan

by Kristin Harlow June 22, 2017

SOUTHFIELD, MICH. — Farbman Group has completed the renovation of Oakland Commons in Southfield that it owns and manages. A new fitness center and conference center were added to the two-building office property. The 24-hour fitness center includes elliptical machines, treadmills, weight machines, shower facilities and fitness classes for tenants. The conference center consists of mobile video screens, teleconferencing capabilities, a full kitchen for catered events and new office furniture. Other amenities at the property, located at 20700 and 20750 Civic Center Drive, include after-hours security with lobby attendant, a restaurant and onsite management.

June 22, 2017

Mixed-Use Multifamily Southeast Tennessee

Buckingham Cos. Opens Residences at Aertson Midtown in Nashville

by Camren Skelton June 22, 2017

NASHVILLE, TENN. — Indianapolis-based Buckingham Cos. has opened the residential portion of Aertson Midtown, a 17-story, 600,000-square-foot mixed-use development located adjacent to Vanderbilt University in Nashville. The Residences at Aertson Midtown is made up of 350 studio, one-, two- and three-bedroom units with rents ranging from $1,800 to $5,500 per month. The property features a rooftop pool, dog park, dog wash station, bike storage, theater, fitness center and 24-hour in-room dining through the on-site Henley restaurant. The community features 35,000 square feet of retail space with tenants including Charleston-based gourmet grocer Caviar & Bananas, Kimpton Aertson Hotel and the Woodhouse Day Spa, which is due for completion this fall.

June 22, 2017

Georgia Office Southeast

CBRE Unveils Renovation Plans for 18-Story Office Building in Atlanta’s Central Perimeter

by Camren Skelton June 22, 2017

ATLANTA — CBRE has unveiled plans to transform 7000 Central Park, an 18-story office tower located within Atlanta’s Central Perimeter submarket. Improvements to the 423,775-square-foot tower include modernization of the front lobby, a fitness center, collaborative working space and conference center, expanded café area, meeting space and a new outdoor living area that will provide gathering space for lunches and special events. 7000 Central Park will join CBRE’s 5-Star Worldwide Program, a national network of office buildings that attracts talent through a range of professional services, hospitality and events. CBRE’s 5-star shuttle service will provide tenants access to MARTA stations, as well as several mixed-use communities in the area. Renovations are expected to be completed by November of this year.

June 22, 2017

Florida Loans Office Southeast

Walker & Dunlop Arranges $16.5M in Refinancing for Office Building in Fort Lauderdale

by Camren Skelton June 22, 2017

FORT LAUDERDALE, FLA. — Walker & Dunlop has structured a $16.5 million loan for the refinancing of Radice Corporate Center III, a Class A, 133,475-square-foot office building located within the Radice Corporate Center in Fort Lauderdale. Walker & Dunlop’s Al Rex and Niki Perez secured the long-term, fixed-rate loan through Ghitis Property Co. Built in 1978, the seven-story building is home to tenants including Aerotex, Marsh & McClennan Agency and Massachusetts Mutual Life Insurance.

June 22, 2017

Georgia Multifamily Southeast

Balfour Beatty Communities Acquires Multifamily Portfolio in Metro Atlanta

by Camren Skelton June 22, 2017

UNION CITY AND FAIRBURN, GA. — Balfour Beatty Communities has acquired three apartment communities in metro Atlanta for an undisclosed price. The Evergreen Portfolio, comprising Evergreen Commons, Evergreen Park and Evergreen Terrace, totals 882 units and encompasses 91 acres. Located in Union City, Evergreen Commons includes 328 one-, two- and three-bedroom units and features a pool, fitness center, playground, tennis and other sport courts. The 310-unit Evergreen Park located in Fairburn features one-, two- and three-bedroom units. Property amenities include indoor and outdoor pools, a tennis court, putting green and a playground. Also in Fairburn, Evergreen Terrace consists of 244 one-, two-, three- and four-bedroom units and features indoor and outdoor pools, a tennis court, bowling alley and a playground. With this acquisition, Balfour Beatty Communities expands its presence in Georgia to 10 properties and approximately 6,500 units.

June 22, 2017

Industrial Mississippi Southeast

NAI UCR Properties Brokers $3M Sale of Industrial Building in Richland, Mississippi

by Camren Skelton June 22, 2017

RICHLAND, MISS. — NAI UCR Properties has facilitated the $3 million sale of a 70,000-square-foot industrial facility located at 330 Leggett Drive in Richland. NAI UCR’s Micah McCullough represented the undisclosed buyer in the transaction. At the time of sale, the property was leased to FedEx Ground.

June 22, 2017

Florida Multifamily Southeast Student Housing Top Stories

Joint Venture Breaks Ground on $54M Student Housing Community Near University of Florida

by John Nelson June 22, 2017

GAINESVILLE, FLA. — A joint venture between Batson-Cook Development Co. (BCDC), 908 Group and Kayne Anderson Real Estate Advisors has broken ground on The Nine @ Gainesville, a $54 million student housing community situated less than a quarter-mile from the University of Florida’s campus in Gainesville. Located at 1115 13th St., The Nine will feature 627 beds within one-, two-, three-, four- and five-bedroom units. All fully furnished residences will feature private bathrooms, in-unit washer and dryer units, stainless steel appliances and private balconies. Community amenities will include a resort-style swimming pool, fitness center, interactive study rooms, community café and a structured parking deck with 420 spaces. “We are thrilled to be underway on The Nine @ Gainesville and to launch this project with 908 Group,” says Litt Glover, CEO and president of Atlanta-based BCDC. “This location is unmatched in its proximity to the university, and with our team’s experience in student housing, we will be delivering a highly amenitized, desirable project that will appeal to UF students.” Kayne Anderson Real Estate Advisors, BCDC and 908 Group are providing equity and PNC Bank is providing construction financing. TSB Capital Advisors acted as consultant to 908 Group and BCDC on the …

June 22, 2017

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