Property Type

EmblemHealth Leases Build-to-Suit Office Building in Brooklyn

by Amy Works May 10, 2016

NEW YORK CITY — EmblemHealth has signed a 20-year lease for a build-to-suit office building at 101 Pennsylvania Ave. in the East New York section of Brooklyn. Atlantic 2644 LLC, the building owner, broke ground on the project for the nonprofit health plan in January. When completed in third quarter 2017, the new building will feature 75,000 square feet of medical office space and 90,000 square feet of structured parking. Designed by Array Architects, the seven-story building will feature a lobby and ambulatory care treatment facilities on the ground floor, parking for 153 cars on the second through fourth floors and medical office space on the fifth through seventh floors.

May 10, 2016

New Jersey Northeast Retail

Margules Properties Acquires 9,500 SF Retail Building in Jersey City for $1.5M

by Amy Works May 10, 2016

JERSEY CITY, N.J. — Margules Properties has acquired a retail building located at 2800 John F. Kennedy Blvd. in Jersey City. The 9,500-square-foot asset sold for $1.5 million. Situated in the Journal Square neighborhood, the two-story building was owned by The Empire Education Group and operated as a cosmetology school. Gardner Rivera, an independent real estate broker in New Jersey, represented the buyer and seller in the deal.

May 10, 2016

Hospitality Midwest Wisconsin

DoubleTree by Hilton Reopens 112-Room Hotel in Wisconsin After $21M Renovation

by Christina Cannon May 10, 2016

EAU CLAIRE, WIS. — DoubleTree by Hilton has reopened a 112-room hotel in Eau Claire after a $21 million rebuild. Pablo Properties owns The Lismore Hotel Eau Claire, and Interstate Hotels & Resorts manages the property. The eight-story hotel’s design and name is inspired by the city of Lismore, Australia. Amenities at the property include a 24-hour fitness facility, 24-hour business center, full-service restaurant, coffee shop, bar and 14,000 square feet of meeting space, which includes a 7,200-square-foot ballroom that can accommodate 620 guests. Plans also include the addition of an indoor pool. Guest rooms feature skyline and river views, 42-inch high-definition televisions, mini-refrigerators, coffeemakers and complimentary Wi-Fi. The Lismore Hotel Eau Claire – a DoubleTree by Hilton is located at 333 Gibson St.

May 10, 2016

Illinois Midwest Multifamily Seniors Housing

Caddis to Develop 94-Unit Senior Living Facility in Chicago Suburb

by Christina Cannon May 10, 2016

ORLAND PARK, ILL. — Caddis has unveiled plans for a new senior living facility in Orland Park, approximately 25 miles southwest of Chicago. Heartis Village Orland Park, located at 159th Street and Harlem Avenue, will be a 94-unit, 89,950-square-foot assisted living facility. Caddis began developing its first Illinois facility last year in Peoria, and the project is expected to open this fall. Both properties will be owned by Caddis and managed by Pathway Senior Living LLC. Heartis Village Orland Park will feature a salon and spa with a therapeutic tub, two interior courtyards, a large dining room, a private dining room, chef-prepared meals, daily activities, an arts and crafts room, media room, licensed nursing services, 24-hour emergency call system, housekeeping and laundry services and personal transportation. Austin, Texas-based Katus LLC is the architect, and Rosemont, Ill.-based McShane Construction Company LLC is the general contractor. The project is slated for delivery next fall.

May 10, 2016

Illinois Industrial Midwest

Principle Construction Breaks Ground on 348,000 SF Industrial Expansion in Illinois for Winpak

by Christina Cannon May 10, 2016

SAUK VILLAGE, ILL. — Principle Construction Corp. has broken ground on a 348,000-square-foot industrial expansion in Sauk Village, approximately 30 miles south of Chicago. Winpak Portion Packaging Inc. occupies the existing 267,000-square-foot building and will occupy the new space as well. The expansion will include a 197,000-square-foot warehouse, 137,950-square-foot production area, an amenity area, maintenance storage, break room, washrooms, mechanical utility room, trucker’s room, shipping office and a plant grinding room. The facility, located at 1111 Winpak Way, will add a second rail spur, 12 storage silos, two new 4000 amp electrical services, 150 parking stalls, 25 trailer stalls, 20 truck dock loading doors and an exterior drive-in door. Winpak Portion Packaging is a manufacturer and distributer of packaging materials. In addition to constructing the expansion, Principle will also work on several upgrades to the older facility. Harris Architects will provide architectural services.

May 10, 2016

Illinois Industrial Midwest

CBRE Arranges 213,141 SF Industrial Lease in Northwest Chicago Suburb

by Christina Cannon May 10, 2016

GURNEE, ILL. — CBRE has arranged a 213,141-square-foot industrial lease in Gurnee, approximately 40 miles northwest of Chicago. Handi-Foil Corp. will occupy the space at 5650 CenterPoint Court. The facility, situated on 10.3 acres, features 9,809 square feet of office space, 12 interior docks, 65 parking spaces and has capacity for a full drive-thru at each end of the site. Ryan Bain and Zach Graham of CBRE represented the landlord, Centerpoint Properties, in the transaction. Keith Puritz and Brett Kroner of Avison Young represented the tenant.

May 10, 2016

Industrial Midwest Wisconsin

The Dickman Company Brokers Sale of 41,350 SF Industrial Building in Milwaukee

by Christina Cannon May 10, 2016

MILWAUKEE — The Dickman Company Inc./CORFAC International has brokered the sale of a 41,350-square-foot industrial building in Milwaukee for an undisclosed price. DDE Enterprises LLC purchased the building, located at 5501 and 5407 W. Mill Road, from INX International Ink Co. Nick Keys of The Dickman Company represented the buyer in the transaction, and Tony Haning of JLL represented the seller.

May 10, 2016

dallas-international-airport-dfw-office-portfolio

Loans Office Texas

Ready Capital Secures $10.5M Loan for Dallas Office Portfolio

by Haisten Willis May 10, 2016

DALLAS — Ready Capital Structured Finance has secured a $10.5 million loan for the refinance and stabilization of an office portfolio located at Dallas/Fort Worth International Airport in Grapevine. The properties were recently acquired under a long-term ground lease from the DFW Airport Authority. The portfolio includes two office buildings totaling 188,600 square feet on 17.5 acres. The first is the DFW Business Center (north and south towers), two class B, four-story office buildings totaling 115,440 square feet with a 950-space garage deck located between the north and southbound lanes near Terminal B. The second is the airport’s 73,155-square-foot, two-story former executive office building located on 14.3 acres at 3200 E. Airfield Drive. The buildings had previously been used to accommodate the airport’s business operations and executive offices. Exterior renovations are planned for both properties, including improved landscaping and upgraded common areas. The non-recourse, three-year loan features release provisions and flexible pre-payment options with a one-year extension option.

May 10, 2016

Multifamily Texas

JLL Arranges Sale of The Catherine in Austin

by Haisten Willis May 10, 2016

AUSTIN, TEXAS — JLL has arranged the sale of The Catherine, a luxury apartment building in Austin. Catherine Tower LLC, an affiliate of Austin-based Christopher Investment Co., purchased the 300-unit property located in Austin’s SoCo submarket. Jeff Price and Scott LaMontagne led the JLL team in the deal. Completed in 2015, units at The Catherine feature 10-foot ceilings, stainless steel kitchen appliances, stone countertops with gourmet kitchen islands and in-unit washers and dryers. Community amenities include an infinity pool, fitness center and a sky lounge on the 19th floor.

May 10, 2016

Office Texas

M&M Brokers Sale of 205,771 SF Office Complex in Metro Dallas

by Haisten Willis May 10, 2016

ADDISON, TEXAS — Marcus & Millichap has arranged the sale of The Forum at Beltline, a three-building, 205,771-square-foot office complex in Addison. Hebert Lawrence and Michael Lawrence of the firm’s Newport Beach, Calif., office represented the seller, a Delaware-based limited liability company. The complex is located in the far north Dallas office submarket at 4002, 4004 and 4006 Belt Line Road. The location, on the southwest corner of Belt Line and Surveyor roads, is known as Addison’s “restaurant row.” The buildings are 1.5 miles west of the Dallas North Tollway, 2.4 miles north of I-635 and four miles south of the George Bush Turnpike. A Dallas Area Rapid Transit (DART) bus stop and many restaurants are nearby. Built in 1983, The Forum at Beltline was 94 percent leased at the time of the sale.

May 10, 2016

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