Property Type

Doster Construction to Build 208-Unit Apartment Complex in Aurora

by Nellie Day October 10, 2017

AURORA, COLO. — Doster Construction Co. is set to start construction of the 280-unit Springs at Eagle Bend apartment complex in Aurora. The 283,084-square-foot development includes 14 buildings with their own private, ground-level entrance. Amenities will include a resort-style pool, fitness center, two pet playgrounds, clubhouse and 12 parking garage buildings. The apartment community is scheduled for completion in winter 2019. Continental Properties is developing the property, which Phillips Partnership designed.

October 10, 2017

California Multifamily Western

California Landmark Group Starts Construction of G8 Apartments in Marina Del Rey

by Nellie Day October 10, 2017

MARINA DEL REY, CALIF. — California Landmark Group (CLG) has started construction of the 230-unit G8 apartment community in the Marina Arts District adjacent to Marina del Rey. The $100 million community will be located at 13448 W. Beach Ave. in the Los Angeles submarket. Common-area amenities include a park, three courtyards with pools, collaborative indoor and outdoor workspaces, a fitness center, and a rooftop deck offering views of the city and ocean. The project will also include 25,000 square feet of renovated creative office space. G8 will be one of the largest multifamily developments to be built on Los Angeles’ Westside in several years, according to CLG.

October 10, 2017

California Retail Western

CBRE Arranges $10.4 Million Sale of Retail Center in San Diego

by Nellie Day October 10, 2017

SAN DIEGO — CBRE has arranged the $10.4 million sale of Torrey Highlands Plaza, a 14,042-square-foot retail center in San Diego. Reg Kobzi, Joel Wilson and Michael Peterson of CBRE represented the seller, Paragon affiliate TH Plaza LLC. Tim Mills of CBRE represented the buyer, Santa Monica Property Investors. At the time of sale, Torrey Highlands Plaza was fully leased to 10 tenants.

October 10, 2017

California Office Western

The Switch Subleases 24,700 SF of Broadcast Space in Burbank

by Nellie Day October 10, 2017

BURBANK, CALIF. — The Switch has subleased 24,700 square feet of space at KCETLink’s facilities at The Pointe in Burbank. The Switch will serve as the outsourced provider of all broadcast origination, master control and technical services to KCET and Link TV. The outsourcing decision comes after KCETLink Media Group received $63 million in auction proceeds. The deal includes the acquisition of the master control assets, production (studio and remote) facilities and certain satellite transmission assets. JLL’s Carl Muhlstein and Nicole Mihalka represented KCETLink in the sublease.

October 10, 2017

Civic Conference Coverage Georgia Southeast

City of Atlanta Addressing Stormwater Runoff, Tree Ordinance on Path to ‘Resilience’

by John Nelson October 10, 2017

ATLANTA — While speaking at the Oct. 5 luncheon hosted by the Atlanta chapter of Commercial Real Estate Women (CREW Atlanta), Emory University law professor Mindy Goldstein addressed some of the environmental issues facing Atlanta, namely the City of Atlanta Tree Ordinance and stormwater runoff in the metro area. “Stormwater runoff is a huge problem in Atlanta,” says Goldstein, who serves as director of the Turner Environmental Law Clinic at Emory University School of Law. The clinic provides 4,000 hours of pro bono environmental legal work per year. “When it rains, surging stormwater can overflood our sewer systems and flood properties, which drastically decreases property values in certain neighborhoods,” says Goldstein. Atlanta is one of the 100 cities around the world participating in 100 Resilient Cities (100RC), a global initiative to provide governance and operational infrastructure to 100 cities that prove they are working to improve conditions for their citizens. The campaign was launched in 2013 by The Rockefeller Foundation and after three rounds of applications, the final 100 cities were chosen in May 2016. Member cities within 100RC are working now to become more “resilient” by addressing both the city’s shocks, or one-time events like floods and earthquakes, and …

October 10, 2017

Colorado Mixed-Use Multifamily Top Stories Western

ARA Newmark Brokers $141.5M Sale of 218-Unit Multifamily Community in Denver

by Katie Sloan October 10, 2017

DENVER — ARA Newmark has brokered the $141.5 million sale of Steele Creek, a 218-unit luxury multifamily community located in the Cherry Creek neighborhood of Denver. The community offers studio, one- and two-bedroom units. Shared amenities include a rooftop deck with an infinity pool, spa, fireplace, cabanas, daybeds, high-end grills and dining areas; a clubroom with billiards and a virtual golf/sports simulator; and a business lounge. The property also features ground-floor retail space leased to Matsuhisa Restaurant, AT&T and Drybar. The 12-story development is located across the street from Cherry Creek Shopping Center, home to over 160 retailers including Nordstrom, Neiman Marcus, Macy’s and Restoration Hardware. Terrance Hunt, Shane Ozment, Jeff Hawks, Doug Andrews and Chris Cowan of ARA Newmark represented the seller, Denver-based real estate investment company BMC Investments, in the transaction. The buyer was not disclosed. — Katie Sloan

October 10, 2017

Industrial Massachusetts Northeast

Campanelli, Clarion Partners Break Ground on 427,500 SF Industrial Project in Bellingham, Massachusetts

by Amy Works October 9, 2017

BELLINGHAM, MASS. — Campanelli and Clarion Partners have broken ground for The Campanelli Business Park of Bellingham, a Class A speculative industrial project located in Bellingham. Situated on 90 acres, the two-building park will feature 427,500 square feet of industrial space. Slated for completion in August 2018, Building I will feature 127,500 square feet and Building II will feature 300,000 square feet. The partnership acquired the land parcel from Welltower, an Ohio-based healthcare REIT. Andrew Sacher of AIS CRE represented the seller in the acquisition. Richard Schuhwerk and Edward Jarosz of JLL have been retained as exclusive leasing agents for the speculative warehouses. Campanelli Construction is building the two warehouses simultaneously.

October 9, 2017

Loans Northeast Office Pennsylvania

JLL Secures $96M in Acquisition Financing for Office Tower in Philadelphia

by Amy Works October 9, 2017

PHILADELPHIA — JLL’s Capital Markets team has secured $96 million in financing for a partnership between Taconic Capital Advisors and Cohen Equities. Provided by Deutsche Bank and Square Mile, the financing package will be used for the acquisition and rehabilitation of 801 Market Street, a 695,130-square-foot office tower in Philadelphia’s Market East submarket. Adam Schwartz, Aaron Appel, Jonathan Schwartz and Chad Orcutt of JLL arranged the financing for the borrowers.

October 9, 2017

Connecticut Mixed-Use Multifamily Northeast Restaurant Retail

RBH Group Acquires Vacant Commercial Building in Hartford, Connecticut, for $20M

by Amy Works October 9, 2017

HARTFORD, CONN. — RBH Group has acquired a long-vacant commercial building, located at 370 Asylum St. in Hartford, for $20 million. RBH Group plans to redevelop the building into Teachers Corner Hartford, a mixed-use space. The development will feature market-rate and affordable residential units, space for educational opportunities and cultural performances, as well as restaurant and retail components. Laurie Grasso and Douglas Hoffmann of Hunton & Williams advised in the acquisition. Teachers Corner Hartford represents the first transaction in RBH Group’s national rollout of its Teachers Village concept following the first Teachers Village project in Newark, N.J., a $150 million, 23-acre mixed-use community. Teachers Corner Hartford is a realization of RBH Group’s continued joint venture with the Goldman Sachs Urban Investment Group and its partnering with Hartford’s Community Solutions and The Prudential Social Investment Group, with funding provided by the City of Hartford and various Connecticut state agencies.

October 9, 2017

Loans Multifamily New Hampshire Northeast

NorthMarq Capital Arranges $4.1M in Refinancing for Multifamily Property in New Hampshire

by Amy Works October 9, 2017

HUDSON, N.H. — NorthMarq Capital has arranged $4.1 million in refinancing for a multifamily property located in Hudson. The financing features a 10-year term on a 25-year amortization schedule. Mark Whelan of NorthMarq secured the financing through a regional bank for the undisclosed borrower. The multifamily property features 36 apartment units.

October 9, 2017

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