Property Type

Habitat Co. to Manage Two Luxury Apartment Properties in Chicago Area

by Kristin Harlow May 12, 2017

CHICAGO — The Habitat Co. has been awarded the property management and leasing contracts for two luxury apartment properties totaling 444 units in Chicago and Evanston, Ill. The Reserve at Evanston is a four-story building located at 1930 Ridge Ave. Habitat will consult on repositioning and upgrading the property, which opened in 2009. Amenities include a cyber café, fitness center, poolside gas grills and complimentary coffee bar. Barings owns the property. Slated to open this July, 640 North Wells consists of 250 apartment units. The new tower is located in Chicago’s River North neighborhood. Amenities include a rooftop swimming pool, fitness center, open-air terraces and lounges, billiards lounge and golf simulator. JDL Development is the developer.

May 12, 2017

Illinois Industrial Loans Midwest

Associated Bank Provides $4.9M Loan for Construction of Self-Storage Facility in Chicago

by Kristin Harlow May 12, 2017

CHICAGO — Associated Bank has provided a $4.9 million loan for the construction of a self-storage facility in Chicago. The 49,182-square-foot facility will be located at 3914 W. 111th St. Banner Storage Group is developing the climate-controlled facility. Edward Notz of Associated Bank managed the loan and closing.

May 12, 2017

Midwest Ohio Retail

Marcus & Millichap Brokers $4.5M Sale of Shopping Center in Columbus, Ohio

by Kristin Harlow May 12, 2017

COLUMBUS, OHIO — Marcus & Millichap has brokered the sale of Lincoln Village in Columbus for $4.5 million. The 210,036-square-foot shopping center is located at 2769 Northland Plaza Drive. Anchored by Discount Fashion Warehouse, Scare-A-Torium and Family Thrift, the center was 92 percent occupied at the time of sale. Other tenants include GNC, CSL Plasma, Donatos Pizza and Steak ‘n Shake. Erin E. Patton, Scott Wiles and Craig Fuller of Marcus & Millichap marketed the property on behalf of the seller, a New York-based family office. A private local buyer purchased the property.

May 12, 2017

Northeast Pennsylvania Retail

New Tenants Announced at Capital City Mall, Plymouth Meeting Mall in Pennsylvania

by Haisten Willis May 12, 2017

HARRISBURG AND PLYMOUTH MEETING, PA. — PREIT has added new tenants at two of its Pennsylvania malls. At Capital City Mall in Harrisburg, a lease has been executed with Dave & Buster’s. The 28,000-square-foot dining and entertainment venue will open in fall 2018. At Plymouth Meeting Mall in the Philadelphia suburb of Plymouth Meeting, PREIT has executed a lease with 5 Wits, an entertainment destination named after the five senses. The live-action experience is designed to immerse guests in realistic situations including hands-on challenges requiring teamwork. The 14,000-square-foot location will be located across from LEGOLAND Discovery Center and will open this fall. In addition, CYCLEBAR, an indoor cycling concept, will open a Plymouth Meeting Mall location on May 18.

May 12, 2017

Industrial Michigan Midwest

Party City Signs 38,640 SF Industrial Lease in Plymouth, Michigan

by Kristin Harlow May 12, 2017

PLYMOUTH, MICH. — Party City Corp. has signed a 38,640-square-foot industrial lease in Plymouth, about 30 miles west of Detroit. The property is located at 41100 Plymouth Road. Larry Kelly of Signature Associates represented the landlord, Plymouth 1848 LLC, in the lease transaction.

May 12, 2017

Florida Mixed-Use Multifamily Southeast

Related Group Acquires Interest in Wynwood 25 Project in Miami from East End Capital

by John Nelson May 12, 2017

MIAMI — The Related Group has acquired a 50 percent interest in Wynwood 25, a planned mixed-use development in Miami’s Wynwood district, from East End Capital. Wynwood 25 will feature 289 multifamily residences, 31,000 square feet of retail space and 340 parking spaces. Related Group and East End Capital plan to break ground on the project this summer. Situated between 24th and 25th Streets near 2nd Avenue, the property will feature studio, one- and two-bedroom units with rents starting at $1,400 per month. Community amenities will include a fitness center with a yoga studio, co-working office spaces, coffee lounge, courtyard, bike storage, package storage, dog wash facilities and a rooftop terrace with a pool, grills, movie screen and outdoor and covered work areas.

May 12, 2017

California Retail Western

Wood Investments Buys Retail Center in Upland for $18.5M

by Nellie Day May 12, 2017

UPLAND, CALIF. — Laguna Beach-based Wood Investments Inc. has purchased Upland Village, a 153,000-square-foot shopping center in Upland. The company plans to revitalize the intersection of Euclid and Foothill in Upland with the $18.5 million acquisition of the center, which was only 10 percent occupied at the time of the sale. Upland Village, formerly occupied by a 65,000-square-foot Dick’s Sporting Goods, is currently leased to two tenants, 99 Cents Only and Laser Island. The sale also included five residential properties located along Euclid Avenue. Wood Investments Inc. and its partners plan to redevelop the property over time. The first phase will include the addition of Ross Dress for Less, Burlington Coat Factory and Raising Cane’s. Wood Investments Inc. is in the pre-leasing stage for phase two.

May 12, 2017

Multifamily Southeast Virginia

Chesapeake Realty Partners Delivers Fitness-Centric Apartment Community in Metro D.C.

by John Nelson May 12, 2017

FORT BELVOIR, VA. — Chesapeake Realty Partners has opened Belvoir Square, a 282-unit apartment community located outside of Fort Belvoir’s Tulley Gate in Fairfax County, roughly 20 miles south of Washington, D.C. The fitness-focused development features the country’s only MyEquilibria outdoor gym, an outdoor workout center that was imported from Italy. Nicknamed the “fitness tree,” MyEquilibria is the centerpiece of the outdoor Fitness Park and supports rings, pull-up bars and parallel bars. Workout stations with box steps, parallettes, level and incline benches, a battle rope and rotating push up handles surround the feature. Belvoir Square also features a 24-hour indoor gym known as the FX Well Fitness Center, which is equipped with treadmills, elliptical machines, a Jacobs Ladder machine, full weight rack and free weights. Complimentary group yoga classes will be offered at the FX Well Fitness Center, and personal training will soon be available. Other community amenities include dry cleaning services, a pet salon, central courtyard with gas grills and lounges, resident clubhouse, game room, business center and a walking trail. Chesapeake Realty has selected Greystar to manage the property.

May 12, 2017

California Retail Western

Passco Cos. Acquires Value-Add Shopping Center in Corona for $17M

by Nellie Day May 12, 2017

CORONA, CALIF. — Passco Cos. has acquired Temescal Village, a 102,976-square-foot neighborhood shopping center in Corona, for $17 million. A retail brokerage team led by Dixie Walker and Charley Simpson of Cushman & Wakefield’s Irvine office represented the seller, a private investor, in the transaction. Located at 1181-1199 Magnolia Ave. and built in 1983, Passco plans to modernize the property through a series of renovations and capital improvements. Planned renovations include redesigning the landscaping and updating the façades throughout the center, as well as adding a social gathering, outdoor dining and seating areas. The center is 93.5 percent leased to 19 tenants including CVS Pharmacy, Citibank, Carl’s Jr., Wells Fargo, H&R Block, the UPS Store, County of Riverside and Metro PCS. Architecture Design Collaborative will design renovations for the center. Chris Black of KeyBank Real Estate Capital’s Commercial Mortgage Group arranged acquisition financing for Passco through Fannie Mae.

May 12, 2017

Loans Office Southeast Virginia

CBRE | Hampton Roads Arranges $35.3M Loan for Office Building in Downtown Norfolk

by John Nelson May 12, 2017

NORFOLK, VA. — CBRE | Hampton Roads has arranged a $35.3 million loan for the SunTrust Building, a 225,286-square-foot office building located at 150 W. Main St. in downtown Norfolk. John Richards Jr. of CBRE | Hampton Roads arranged the long-term, fixed-rate loan on behalf of the borrower, 150 Owner LLC, which will use the financing to refinance existing debt on the property.

May 12, 2017

Newer Posts

Older Posts