Property Type

Aareal Capital Provides $97M Refinancing of Office Complex in Arlington

by John Nelson August 19, 2016

ARLINGTON, VA. — Aareal Capital Corp. has provided the $97 million refinancing of Sequoia Plaza, a three-building, Class A office complex totaling 369,215 square feet in Arlington. Located at 2100, 2110 and 2120 Washington Blvd., the asset is situated on a 5.8-acre site directly across the Potomac River from Washington, D.C. The property was 83 percent leased at the time of financing to tenants such as Arlington County, which leases more than 75 percent of the space and operates its School Board and Department of Human Services branches from the property. Cary Abod and Robert Carey of HFF arranged the three-year, floating-rate loan through Aareal Capital on behalf of the borrower, Foulger Pratt.

August 19, 2016

District of Columbia Office Southeast

Akridge, Western Development Acquire Former Coast Guard Headquarters in D.C. for $49.3M

by John Nelson August 19, 2016

WASHINGTON, D.C. — Western Development Corp. and Akridge have led a consortium of real estate developers and investors, including Orr Partners, Redbrick LMD LLC and Jefferson Apartment Group, to acquire 2100 Second St. S.W. in Washington, D.C., the site of the former U.S. Coast Guard headquarters at Buzzard Point. The sales price was undisclosed, but the Washington Business Journal reports the sales price to be $49.3 million. The team will redevelop the site into Riverpoint, a mixed-use development comprising 80,000 square feet of restaurant and retail space, more than 450 apartment and condominium units and waterfront activities with new piers, floating restaurants and the continuation of the Anacostia Riverwalk Trail. EagleBank and Greenfield Partners provided financing for Riverpoint, which will feature three sides of unobstructed water views. Orr Partners and Jefferson Apartment Group will co-develop the property, and Western will lead the development and leasing of the retail and waterfront portions of the project. Washington, D.C.-based Redbrick sourced, capitalize, and structured the transaction.

August 19, 2016

Florida Industrial Southeast

Cushman & Wakefield Arranges $23.6M Sale of Distribution Facility in Broward County

by John Nelson August 19, 2016

POMPANO BEACH, FLA. — Cushman & Wakefield has brokered the $23.6 million sale of Pompano Distribution Center I, a Class A, 202,210-square-foot distribution warehouse located at 3901 N.E. 12th Ave. in Pompano Beach. Built in 2014 by Atlanta-based Weeks Robinson Partners, the rear-load facility was fully leased at the time of sale to tenants such as Restoration Hardware, Sunbelt Marketing and RWC Inc. The property features 32-foot clear heights, 125-foot truck courts, 60-foot concrete aprons, ESFR sprinklers, T-5 lighting and trailer storage. Mike Davis, Rick Brugge, Michael Lerner and Richard Etner of Cushman & Wakefield represented Robinson Weeks in the sale. A member company of Zurich North America, advised by Zurich Alternative Asset Management LLC, purchased the facility for roughly $117 per square foot.

August 19, 2016

Kentucky Retail Southeast

Gibson Co. Brokers $7.3M Sale of Retail Center in Lexington

by John Nelson August 19, 2016

LEXINGTON, KY. — The Gibson Co. has arranged the $7.3 million sale of South Elkhorn Village, a 55,000-square-foot retail center located on 6.2 acres at 4379 Old Harrodsburg Road in Lexington. Billy Smith of Gibson Co. represented the seller, South Elkhorn Village LLC, and Ernie Arnold, also with Gibson, procured the buyers, Compass Capital LLC and its partners.

August 19, 2016

Illinois Loans Midwest Office

HFF Secures $78M Construction Loan for Creative Office Building in Chicago

by Christina Cannon August 19, 2016

CHICAGO — HFF has secured a $78 million construction loan for the development of a 290,699-square-foot creative office building in Chicago’s West Loop neighborhood. The nine-story Fulton West Phase II is slated for completion in 2017 and will feature a 24,000-square-foot courtyard, a 5,750-square-foot rooftop deck, a shuttle service, 18,429 square feet of ground-floor retail space and a 610-stall parking structure. Floor plates will average 34,000 to 40,000 square feet, and Glassdoor, Skender Construction and Sterling Bay will occupy nearly half the building. A joint venture between J.P. Morgan Asset Management and Sterling Bay will develop the project. Michael Kavanau, Tim Joyce and Christopher Knight of HFF worked to place the financing with Bank of America on behalf of the borrower.

August 19, 2016

Midwest Missouri Multifamily Seniors Housing

SLIB Arranges $2M Sale of Skilled Nursing Facility in Missouri

by Christina Cannon August 19, 2016

LIBERTY, MO. — Senior Living Investment Brokerage has arranged the $2 million sale of an undisclosed skilled nursing facility in the Kansas City suburb of Liberty. The facility is currently vacant, having been closed by the Centers for Medicare & Medicaid Services in 2015. It was built in 1992 and features 143 beds. The buyer is a private equity group that partnered with a regional operator. Matthew Alley, Patrick Byrne and Toby Seifert of Senior Living Investment Brokerage arranged the transaction.

August 19, 2016

California Retail Western

C.W. Driver Cos. Breaks Ground on Five Lagunas Mall in Laguna Hills

by Nellie Day August 19, 2016

LAGUNA HILLS, CALIF. — C.W. Driver Cos. has broken ground on Five Lagunas, a rebranding and renovation of Laguna Hills Mall in Laguna Hills. Plans for the 68-acre site include 300,000 square feet of newly built retail space, 45,000 square feet of retail pad construction, and extensive interior and exterior renovations that will upgrade and modernize the shopping center. The 846,885-square-foot lifestyle center is slated to open in summer 2018. Current tenants include JCPenney, Macy’s and Nordstrom Rack. Merlone Geier Partners owns the property.

August 19, 2016

California Retail Western

Civic Partners to Build 95,000 SF Retail Development in Lake Elsinore

by Nellie Day August 19, 2016

LAKE ELSINORE, CALIF. — Civic Partners has selected KTGY Architecture + Planning to design Artisan Alley at The Diamond, a retail development located in Lake Elsinore. Situated on 11 acres at the northeast corner of Diamond Drive and Malaga Road, the project will feature 95,000 square feet of retail and restaurant space and a 130-room hotel. Rene Brochier of Colliers International and Philip Riedy of Riedy Commercial Real Estate are handling the leasing and pad site sales at the property.

August 19, 2016

California Retail Western

Joint Venture to Develop Multi-Building Recreation Center in Mission Valley

by Nellie Day August 19, 2016

MISSION VALLEY, CALIF. — Sudberry Properties and the Grant Family are developing Civita Recreation Center, a multi-building recreation center in Mission Valley. Dempsey Construction has broken the ground on the project, which will include two buildings featuring a gymnasium, spa area, great room and kitchen. Outdoor amenities will include a family swimming pool, a lap swimming pool, barbecue area, fire pits and outdoor seating areas. Designed by Bessenian Lagoni, the property is slated for completion in spring 2017.

August 19, 2016

California Retail Western

Three New Retailers Sign Leases at Riverside Plaza

by Nellie Day August 19, 2016

RIVERSIDE, CALIF. — Three new retailers have signed leases to move into Riverside Plaza, a retail center in Riverside. Carter’s Babies & Kids signed a lease for 4,200 square feet; Ono Hawaiian BBQ inked a deal for 3,005 square feet; and Great Shakes leased 1,193 square feet of space at the center. Existing tenants at Riverside Plaza include Marshalls, Chico’s, Regal Stadium Plaza 16, Trader Joe’s, The Sleep Train, The Coffee Bean & Tea Leaf, Home Care Assistance, Wang Cho Korean BBQ, Charter Communications and Nothing Bundt Cakes.

August 19, 2016

Newer Posts

Older Posts