Property Type

Pro Football Focus Signs 6,000 SF Office Lease in Cincinnati

by Kristin Harlow April 11, 2017

CINCINNATI — Pro Football Focus (PFF) has signed a 6,000-square-foot office lease at 1208 Central Parkway in Cincinnati. Chris Collinsworth, a former Cincinnati Bengals wide receiver and sports broadcaster, owns PFF. The company will be moving to the new location this summer after renovations are completed. PFF provides football performance data and insights to help teams win their games. Stuffed Realty LLC purchased the 15,000-square-foot building last year with plans to redevelop the property. Travis Likes, Scott Yards and John Eckert of CBRE represented PFF in the lease transaction.

April 11, 2017

District of Columbia Loans Multifamily Southeast

Walker & Dunlop Originates $183.1M in Financing for Two Multifamily Properties in D.C.

by John Nelson April 11, 2017

WASHINGTON, D.C. — Walker & Dunlop has arranged two loans totaling $183.1 million for Park Chelsea and 2M, two LEED-certified multifamily properties in Washington, D.C. Brendan Coleman, Keith Melton and David Strange led the Walker & Dunlop origination team, which arranged the transactions through Fannie Mae’s Green certification execution for Park Chelsea and the U.S. Department of Housing and Urban Development’s (HUD) refinance program for 2M on behalf of WC Smith, a developer and owner of affordable housing in the Mid-Atlantic region. Situated in Washington, D.C.’s NoMa district, 2M is a LEED Gold-certified property with 93 percent of its units reserved for low-income tenants, including renters using Section 8 vouchers. Community amenities include a rooftop pool, grilling area, indoor fitness center and basketball court and 24-hour concierge services. The property was 99 percent occupied at closing. WC Smith, which closed a HUD development loan for 2M two years ago, will use the $63.8 million loan to refinance existing debt. Park Chelsea is the first of three properties that will be known as The Collective, a rental community located in Washington, D.C.’s Capitol Riverfront. As a LEED Silver-certified building, the property qualified for Fannie Mae’s Green Building Certification financing, which totaled …

April 11, 2017

Multifamily North Carolina Southeast

TriBridge Residential Purchases Multifamily Community in Charlotte for $31.5M

by John Nelson April 11, 2017

CHARLOTTE, N.C. — Atlanta-based TriBridge Residential LLC has purchased Morehead West, a 211-unit apartment community located at 1932 W. Morehead St. in Charlotte’s FreeMoreWest neighborhood, for $31.5 million. The asset also includes 5,600 square feet of commercial space. The property is TriBridge’s fourth acquisition in Charlotte area. TriBridge will manage the property, and Ligon Commercial Real Estate will lease the asset on behalf of TriBridge.

April 11, 2017

Office Southeast Tennessee

Dilweg Acquires Five-Story Office Building in Nashville for $17.7M

by John Nelson April 11, 2017

NASHVILLE, TENN. — The Dilweg Cos. has purchased Vantage Place, a five-story, Class B office building in Nashville’s MetroCenter submarket. The seller and sales price were not disclosed, but The Tennessean reports the sales price as $17.7 million. Built in 1981, the 167,818-square-foot property was 92 percent leased to tenants such as Centerstone Research Institute, CGS and Young Williams. The purchase of Vantage Place brings Dilweg’s Southeast holdings to nearly 6 million square feet.

April 11, 2017

Florida Retail Southeast

Regency Centers to Develop $16.4M Retail Center in Miami

by John Nelson April 11, 2017

MIAMI — Regency Centers Corp. plans to develop Pinecrest Place, a $16.4 million retail center situated off U.S. Highway 1 (South Dixie Highway) in Miami. Whole Foods Market will anchor the 70,000-square-foot center with a 46,000-square-foot store. The shopping center will be located adjacent to a 173,000-square-foot Target. Regency Centers plans to deliver Pinecrest Place in the second quarter of 2018. Regency has developed 225 shopping centers since 2000, representing an investment at completion of more than $3.5 billion.

April 11, 2017

North Carolina Retail Southeast

Aston Properties Signs Up New Retailers at Shopping Center Underway in Charlotte

by John Nelson April 11, 2017

CHARLOTTE, N.C. — Aston Properties has announced retailers and restaurants joining City Park Village, an 11,600-square-foot shopping center under construction in Charlotte. Situated on a 2.6-acre site at the corner of West Tyvola Road and Potomac River Parkway, the property is nearly 90 percent pre-leased to tenants including Panera Bread, Chipotle Mexican Grill, Starbucks Coffee and Firehouse Subs. The $6 million property will serve as the entrance to City Park, a 170-acre mixed-use development that Pope & Land Enterprises is developing on the former site of the Charlotte Coliseum. The Shopping Center Group is leasing City Park Village, which has 1,575 square feet available, as well as retail pads fronting West Tyvola Road.

April 11, 2017

Northeast Office Pennsylvania

CBRE Capital Markets Negotiates Sale of Office Building in Trevose, Pa.

by Haisten Willis April 11, 2017

TREVOSE, PA. — CBRE has arranged the sale of a Class A office building located at 1150 Northbrook Dr. in Trevose. Red River Asset Management, Advalurem Group and Lincoln Property acquired the four-story, 107,742-square-foot property. Robert Fahey, Jerry Kranzel and Erin Hannan of CBRE represented the seller, Rubenstein Partners, during the transaction. Built in 2007, 1150 Northbrook features a two-story atrium lobby and a glass curtain wall. The property, which is located near Neshaminy Mall, is 85 percent leased to tenants including Gamesa, Office of the Comptroller (U.S. Department of the Treasury) and Bracket Global.

April 11, 2017

Industrial Loans Northeast Rhode Island

Webster Bank Secures $7 Million Financing for Brewing Facility in Rhode Island

by Haisten Willis April 11, 2017

PAWTUCKET, R.I. — Webster Bank has secured a $7.2 million portfolio financing deal for Isle Brewers Guild, a craft beer cooperative in Pawtucket co-founded by Devin Kelly and Jeremy Duffy. The Guild is designed to deliver additional capacity, efficiency and control to local brewers. Webster Bank provided $4 million of financing to the Rhode Island Industrial Facilities Corp. in conjunction with a guarantee from the Rhode Island Industrial Recreational Building Authority by purchasing two bonds: one 25-year series and real estate for about $1.4 million plus a 15-year series of $2.6 million for machinery and equipment to establish a brewing operation. Webster also provided $3.1 million under the U. S. Small Business Administration’s 504 program. This portion of the financing consists of $2.8 million of bridge financing and a $350,000 working capital line of credit. Anthony Capuano Jr. of Webster Bank led the transaction.

April 11, 2017

New York Northeast Restaurant Retail

Eastern Consolidated Brokers Lease for Italian Restaurant in New York City

by Haisten Willis April 11, 2017

NEW YORK CITY — Chef Pino Luongo is opening an Italian restaurant in SoHo at 160 Prince St., a space which housed Milady’s neighborhood bar from the 1930s until 2014. Eastern Consolidated brokered the 15-year, 1,850-square-foot ground-floor lease at the corner of Prince and Thompson streets. James Famularo represented the landlord, while Jeff Geoghegan and Greg Goldberg represented the tenant. Luongo has owned and operated restaurants for more than 30 years. Luongo opened Il Cantinori in the East Village in 1983, followed by Coco Pazzo on the Upper East Side in 1990, Tuscan Square in Rockefeller Center in 1997, Centolire in 2001 and Morso in 2011.

April 11, 2017

New York Northeast Office

SVN Negotiates $2.3M Acquisition of People’s United Bank Building in Babylon, N.Y.

by Haisten Willis April 11, 2017

BABYLON, N.Y. — SVN | Realty Three Advisors has negotiated the $2.3 million purchase of the People’s United Bank Building located at 375 Deer Park Ave. in Babylon. An unnamed buyer purchased the net leased retail and office building from 375 Deer Park Avenue LLC. Patricia Posillico of Sperry Van Ness | Realty Three Advisors represented the buyer. Sabre Real Estate Group represented the seller.

April 11, 2017

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