INDIANAPOLIS — Colliers International has brokered the sale of Waterfront Office Park, an office park located at 2611-2780 Waterfront Parkway E. Drive in Indianapolis. New Boston Fund sold the four-building, 201,276-square-foot park for an undisclosed price. Alex Cantu, Rich Forslund and Matt Langfeldt of Colliers Indianapolis | Capital Markets represented the seller in the deal. The name of the buyer was not released.
Property Type
STREAM Capital Partners Brokers $8M Sale-Leaseback of Industrial Portfolio in Wisconsin, Indiana
by Amy Works
KENOSHA, WIS., AND WARSAW, IND. — STREAM Capital Partners has arranged the sale-leaseback of a three-building portfolio of more than 151,000 square feet of industrial space in Kenosha and Warsaw. The properties are located at 3724 N. State Road and 486E 350N in Warsaw and 5307 95th Ave. in Kenosha. Tecomet sold the portfolio to an undisclosed REIT for $8 million. The seller then leased back three of properties as a long-term triple-net lease with periodic rent increases and multiple options for renewal from the new owner. Jonathan Wolfe and Jordan Shtulman of STREAM represented the seller in the transaction.
Quantum Real Estate Advisors Negotiates $3M Sale of Multi-Tenant Retail Property in Portage, Indiana
by Amy Works
PORTAGE, IND. — Quantum Real Estate Advisors has arranged the sale of a newly constructed, multi-tenant retail building located at 6030-6036 U.S. Highway 6 in Portage. A Chicago-based developer sold the property to a private real estate investor for $3 million. At the time of sale, the 5,934-square-foot property was fully leased to Starbucks Coffee, Domino’s Pizza and Five Guys. Chad Firsel of Quantum Real Estate Advisors represented the seller in the deal.
SOUTH HAVEN, MICH. — NAI Wisinski West Michigan brokered the sale of a 2.5-acre site located at 72133 Phoenix St. in South Haven. Honor Credit Union acquired the site for an undisclosed price and plans to relocate from its current location at 749 Phillips St. to the property. Slated for completion in 2017, the new property will feature drive-thru lanes, a drive-up ATM and a night drop. Dane Davis of NAI Wisinski represented the seller, Locker & Locker Properties, while Doug Clark of The Case Group represented the buyer in the transaction.
Prism Capital Completes Acquisition of 116-Acre Former Hoffmann-La Roche Campus in New Jersey
by Amy Works
NUTLEY AND CLIFTON, N.J. — PB Nutclif I, an affiliate of Prism Capital Partners, has completed its previously announced purchase of the 116-acre former Hoffmann-La Roche Inc. North American headquarters campus in Nutley and Clifton. The company plans to reposition the campus as a mixed-use development anchored by a medical school. In July, Hackensack Meridian Heath and Seton Hall University committed to leasing two buildings and 16 acres at the property. Seton Hall and Hackensack Meridian will immediately start improvements to convert the leased buildings to accommodate the needs of the new Seton Hall-Hackensack Meridian School of Medicine. Seton Hall will co-locate its College of Nursing and School of Health and Medical Sciences at the site, and Hackensack Meridian plans to create a National Health Institute-designated Clinical Research Center on the campus.
NEW YORK CITY — Berkadia has secured $31.5 million in financing for The Retail Condominium at The Renaissance, a retail and garage property located at 130 Lenox Ave. in Harlem. Stewart Campbell of Berkadia arranged the loan for the undisclosed borrower through Jeffries LoanCore LLC. The 10-year refinancing loan features a 4.13 percent fixed interest rate and is interest-only throughout the term.
NEW YORK CITY — An affiliate of Rockpoint Group LLC has acquired two residential properties located at 63 and 67 Wall St. in Manhattan. An affiliate of DTH Capital sold the properties for an undisclosed sum. 63 Wall Street, known as the Crest and formerly The Wall and Hanover Building, was built in 1928 as the headquarters of Brown Brothers Harriman & Co. The 400,000-square-foot building was converted into 476 residential apartments in 2003 and 2004. 67 Wall Street was originally built in 1921 as headquarters for the Munson Shipping Co. In 2006, the building was converted into 331 residential units and a retail component. The properties have approximately 10,000 square feet of connected amenity space and 20,000 square feet of retail space. Carl Schwartz, Matthew Scoville and Katie Baranek of Hunton & Williams LLP advised DTH Capital on the sale.
Roddy Inc. Brokers $4.8M Sale of 101,747 SF Industrial Facility in Bensalem, Pennsylvania
by Amy Works
BENSALEM, PA. — Roddy Inc. has arranged the sale of an industrial facility located at 633 Dunksferry Road in Bensalem. Nytef Bensalem LLC sold the 101,747-square-foot property to Liberty Bell Properties LLC for $4.8 million. Situated on 11.1 acres, the property will be partially occupied by EDA Contractors, with 32,500 square feet of space available for lease. Robert Olender of Roddy Inc. represented the seller in the deal.
WHITE PLAINS, N.Y. — Choyce Peterson Inc. has arranged the lease of 29,000 square feet of office space at 701 Westchester Ave. in White Plains. Pentegra Retirement Services is relocating its headquarters from 108 Corporate Park Drive to the new location. John Hannigan and Alan Peterson of Choyce Peterson represented the tenant, while Brian Carcaterra of CBRE represented the landlord, Normandy Real Estate Partners, in the transaction.
OWINGS MILLS, MD. — Baltimore-based Continental Realty Corp. has acquired Riverstone at Owings Mills, a 324-unit garden-style apartment community located in Owings Mills, for $61.6 million. Continental purchased the community via its Continental Realty Fund IV LP, marking the third multifamily purchase for the fund. Located at 4700 Riverstone Drive, Riverstone at Owings Mills consists of one-, two- and three-bedroom apartment units featuring 9-foot ceiling heights, open-style layouts, split master options, individual full-sized washer and dryers, and balconies or patios. The asset was nearly 96 percent occupied at the time of the purchase. Constructed in 2002, the property’s community amenities include a clubhouse with a fitness center, business center and resident lounge, as well as an outdoor swimming pool, hot tub and a tennis court. Continental Realty plans to continue the on-going renovation program, which includes the installation of granite countertops and stainless steel appliances. CBRE represented the seller, CIM Group, in the transaction.