Property Type

Woodmont Industrial Partners Sells 437,446 SF Industrial Building in Pittston, Pennsylvania

by Amy Works October 30, 2017

PITTSTON, PA. — Woodmont Industrial Partners has completed the disposition of an industrial building located at 1 Commerce Road in Pittston. The name of the buyer and acquisition price were not disclosed. Woodmont Industrial Partners completed an extensive capital improvement plan at the 437,446-square-foot building, which was formerly a Penguin Random House distribution center. The renovation program included additional loading docks, natural gas conversion, upgraded lighting and power. Additionally, the property features a high-bay section offering 48-foot to 54-foot clear height with racking in place, a 269-car parking lot and a rail line behind the building.

October 30, 2017

New Jersey Northeast Retail

Sitar Realty Arranges $5.6M Sale of Retail Center in Flemington, New Jersey

by Amy Works October 30, 2017

FLEMINGTON, N.J. — Sitar Realty Group has brokered the sale of a retail center located at 3 Walter Foran Blvd. in Flemington. Flemington Partners acquired the property from Arnav Investments for $5.6 million. The center features 36,408 square feet of retail space. Giorgio Vasilis of Sitar Realty Group brokered the transaction.

October 30, 2017

Illinois Loans Midwest Mixed-Use

Walker & Dunlop Arranges $9.7M Refinancing for Mixed-Use Center in Chicago

by Kristin Harlow October 30, 2017

CHICAGO — Walker & Dunlop Inc. has arranged a $9.7 million loan for the refinancing of Portage Park in Chicago. Formerly a bank building, the mixed-use property now incorporates office and retail space. Situated on seven acres, the property features 60,500 square feet of rentable space and a 180-space parking lot. Tenants include Binny’s Beverage Depot, Retro Fitness and Immigration Lawyers PC. A portion of the vacant space is a historic theater that was formerly home to the Northwest Chicago Film Society, and will be preserved as a performing arts facility. Luke Erlandson, Jeff Robbins and Matt Ewig arranged the 10-year loan, which features a 30-year amortization schedule. Loan proceeds will be used to pay off an existing construction loan. Cui Properties was the borrower.

October 30, 2017

Massachusetts Multifamily Northeast

Northeast Private Client Group Brokers $2.3M Sale of Apartment Building in Worcester, Massachusetts

by Amy Works October 30, 2017

WORCESTER, MASS. — Northeast Private Client Group has negotiated the sale of Longfellow Manor Apartments, located at 1002-1008 Main St. in Worcester. Emerald Empire Inc. acquired the building from a Framingham, Mass.-based trust for $2.3 million, or $49,000 per unit. The value-add property features 39 one-bedroom units and eight two-bedroom units. Taylor Perun and Timothy McGeary of Northeast Private Client Group represented the seller and procured the buyer in the deal.

October 30, 2017

Michigan Midwest Office

Liberty Property to Manage Seven-Building Office Portfolio in Metro Detroit

by Kristin Harlow October 30, 2017

DETROIT — Liberty Property & Asset Management has been awarded the property management contract for a portfolio of seven office buildings located in metro Detroit. The properties, owned by California-based LSTC Michigan/LSTC California LLC, include: Berkshire Office Building in Beverly Hills; Haverhill Office Building in Troy; Butterfield Park Place in Troy, Hampton Professional Park in Rochester Hills; and Westridge Office Center in West Bloomfield. Liberty will be responsible for all aspects of the management and operation of the properties, while sister company L. Mason Capitani CORFAC International will continue to oversee leasing.

October 30, 2017

Illinois Midwest Office

Skender Completes 21,000 SF Office Build-Out for Climate Corp. in Chicago

by Kristin Harlow October 30, 2017

CHICAGO — Skender Construction has completed a 21,000-square-foot office build-out for The Climate Corp., a subsidiary of Monsanto Co. The company creates digital tools to help farmers sustainably increase their productivity. The new office, located at 1330 W. Fulton Market, incorporates rustic wood walls, oversized barn doors and an antique tractor on display. Two workshops house the company’s equipment and ongoing projects. A large break room offers ping pong and foosball for employees. Skender collaborated with architect Shive-Hattery and COR Consulting for the project.

October 30, 2017

Midwest Net Lease Ohio Restaurant Retail

Cooper Commercial Brokers $1.8M Sale of Property Net Leased to Starbucks in Milford, Ohio

by Kristin Harlow October 30, 2017

MILFORD, OHIO — The Cooper Commercial Investment Group has brokered the sale of a single-tenant property net leased to Starbucks in Milford, about 15 miles northeast of Cincinnati, for $1.8 million. The 2,107-square-foot retail property was newly constructed this year and features 10 years of initial lease term. Dan Cooper represented the undisclosed seller. A California-based buyer purchased the property.

October 30, 2017

Midwest Minnesota Retail

Upland Arranges $1M Sale of Retail Property in Owatonna, Minnesota

by Kristin Harlow October 30, 2017

OWATONNA, MINN. — Upland Real Estate Group Inc. has arranged the sale of Three Corners Marketplace in Owatonna, located in southern Minnesota, for $1 million. The 7,666-square-foot retail property is fully leased to four tenants including Caribou Coffee, Subway, Re-Bath and Midnight Sun Spas. Keith Sturm, Deborah Vannelli and Amanda Leathers of Upland represented the undisclosed seller. The private buyer was completing a 1031 exchange.

October 30, 2017

Industrial Texas

Cabot, Stream Break Ground on 646,796 SF Industrial Asset at DFW Airport

by Taylor Williams October 30, 2017

DALLAS — Cabot Properties Inc. and Stream Realty Partners have broken ground on International Logistics Center, a 646,796-square-foot industrial property situated on 40 acres on the south side of the Dallas-Fort Worth (DFW) International Airport. The development includes three buildings that can accommodate tenant sizes of 20,000 to 320,000 square feet. Peinado Construction is serving as general contractor for the project, which was designed by GSR Andrade Architects.

October 30, 2017

Retail Texas

HPI Brokers Sale of 15,692 SF Retail Center in Metro Houston

by Taylor Williams October 30, 2017

RICHMOND, TEXAS — Hunington Properties Inc. (HPI) has brokered the sale of Long Meadow Plaza Shopping Center, a 15,692-square-foot retail center located at 7909 W. Grand Parkway S. in the Houston metro of Richmond. Tenants include Wendy’s, Mattress One, Today’s Vision and Little Caesars, all of which are subject to seven-year, triple-net leases. Rafael Melara of Hunington represented the seller in the transaction. Other terms of sale were not disclosed.

October 30, 2017

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