Property Type

Progressive Real Estate Arranges $3.2M Sale of 64,000 SF Retail Center in Ontario

by Nellie Day February 10, 2017

ONTARIO, CALIF. — Progressive Real Estate Partners has brokered the sale of a retail center located at 404-426 N. Euclid Ave. in downtown Ontario. The City of Ontario acquired the 64,000-square-foot property from a private investor for $3.2 million. Secoya Market, Papa John’s Pizza and Wells Fargo occupy the property, which was built in the 1960s. Frank Vora, Mike Lin and Pablo Velasco of Progressive Real Estate represented the seller, while Paul Galmarini, also of Progressive Real Estate, represented the buyer in the transaction.

February 10, 2017

California Retail Western

Stos Partners Acquires Retail Property in Oceanside for $1.4M

by Nellie Day February 10, 2017

OCEANSIDE, CALIF. — Stos Partners has acquired a two-tenant retail property located at 610-612 Mission Ave. in Oceanside. A private owner sold the property for $1.4 million. The buyer plans to implement capital upgrades to the building and market the property as retail and/or office space. Peter Curry of Cushman & Wakefield represented the buyer and seller in the transaction.

February 10, 2017

Illinois Midwest Office

Ryan to Redevelop 18-Acre Office Complex in Chicago Suburb

by Kristin Harlow February 10, 2017

WESTMONT, ILL. — Ryan Cos. U.S. Inc. has acquired 700 Oakmont Lane, an 18-acre office complex in Westmont, a suburb of Chicago. Ryan purchased the property from Lexington Group for an undisclosed price. The property currently consists of a three-story, 275,000-square-foot office building. Ryan will redevelop the property as Oakmont Point, a multi-building office complex that can accommodate up to five corporate users. The value of the new development, including land costs, could exceed $35 million. Oakmont Point will feature office spaces ranging from 25,000 to 75,000 square feet, along with 200 indoor parking stalls, a pond and large patios. Ryan A+E Inc. is the architect. Bill Elwood and Tara Torbik of CBRE are marketing the property on behalf of Ryan.

February 10, 2017

Indiana Loans Midwest Multifamily

Dougherty Arranges $26.6M Fannie Mae Loan for Acquisition of Multifamily Property in Indianapolis

by Kristin Harlow February 10, 2017

INDIANAPOLIS — Dougherty Mortgage LLC has arranged a $26.6 million Fannie Mae loan for the acquisition of Coppertree Apartments, a 772-unit multifamily property located in Indianapolis. The property was built in 1969 and renovated in 2012. The seven-year loan features a 30-year amortization schedule. The loan was arranged through a partnership with Old Capital Lending and Dougherty’s Vienna, Va. office for the borrower, Tanglewood Apartments LLC.

February 10, 2017

Loans Midwest Multifamily Wisconsin

Walker & Dunlop Negotiates $11.7M Loan for Refinancing of Multifamily Property Portfolio Near Milwaukee

by Kristin Harlow February 10, 2017

MILWAUKEE — Walker & Dunlop Inc. has negotiated an $11.7 million loan for the refinancing of the Supreme Apartment Portfolio, a six-property portfolio located in Wisconsin. Constructed between 1988 and 1993, the properties consist of 340 garden-style units. The properties include: Greenfield Park in Greenfield, Parkway South in Milwaukee, River Park in Oconomowoc and Orchard Park, Central Park and Parkway Central in West Allis. Matt Ewig, Jeff Robbins and Luke Erlandson of Walker & Dunlop originated the loan with a life insurance company for the borrower, Supreme Builders.

February 10, 2017

Industrial Midwest Wisconsin

Kleen Test Products Signs 20,000 SF Industrial Lease in Milwaukee

by Kristin Harlow February 10, 2017

MILWAUKEE — Kleen Test Products Corp. has signed a 20,000-square-foot industrial lease at 5200 W. Clinton Ave. in Milwaukee. The landlord was TJW Plant3 LLC. TJ Huenerbein, Nick Keys, Samuel D. Dickman and Samuel M. Dickman Jr. of the Dickman Co. Inc./CORFAC International brokered the transaction. Kleen Test Products manufactures wet wipes, dryer sheets, liquids, pads, lotions, soaps and confectionery products.

February 10, 2017

Midwest Ohio Restaurant Retail

Einstein Bros. Bagels Signs 1,850 SF Lease for Third Location in Cincinnati

by Kristin Harlow February 10, 2017

CINCINNATI — Einstein Bros. Bagels has signed an 1,850-square-foot at the Gwynne Building for its third location in Cincinnati. The Colorado-based bagel shop has 735 locations throughout the United States. The new location will be situated along the Cincinnati Streetcar route in the former Richter & Phillips space at 202 East 6th St. The store is expected to open at the end of this month. In addition to in-store breakfast and lunch options, Einstein Bros. will also offer catering throughout downtown. Jason Gibson of Anchor Associates represented Einstein Bros. Bagels and CBRE’s Tori Sunderman represented the landlord in the lease transaction.

February 10, 2017

Georgia Healthcare Southeast Top Stories

Children’s Healthcare of Atlanta to Build $1B Pediatric Hospital at Campus in Brookhaven, Georgia

by Kristin Harlow February 10, 2017

BROOKHAVEN, GA. — Children’s Healthcare of Atlanta (CHOA) has unveiled plans to build a new pediatric hospital in the Atlanta suburb of Brookhaven. CHOA’s total investment in the new hospital will be between $1 billion and $1.3 billion, according to the company. After construction of the new hospital is complete, CHOA will cease operations at the inpatient facility at Egleston Hospital in Atlanta. Future plans for the use of the Egleston campus have not been determined. The new project will join a medical campus at North Druid Hills Road and I-85 that will also include CHOA’s previously announced Center for Advanced Pediatrics. Construction of that 260,000-square-foot outpatient facility began last month. Based on studies of future demand and facility capacity, CHOA believes that the new, 45-acre campus will be able to meet forecasted patient care and space needs through 2026. Specific transportation, site and building plans for the campus will be developed over the next 18 months. The area is quickly becoming a new medical corridor for suburban Atlanta, as Emory Healthcare and the Atlanta Hawks unveiled plans for a nearby $50 million training and sports medicine center last year. —Kristin Hiller

February 10, 2017

Industrial Texas

Port Logistics Realty Completes 1.1 MSF Industrial Facility in Metro Dallas

by Amy Works February 9, 2017

WILMER, TEXAS — Port Logistics Realty (PLR) has completed the construction of the first building at its 531-acre, $500 million Southport Logistics Park in Wilmer. The 1.1 million-square-foot property features a cross-dock design, 36-foot clear heights, 570-foot building depth, 185-foot truck court, a 60-foot staging area, 54- by 50-foot column spacing, truck courts and vehicle parking. PLR is currently underway on the remainder of Southport Logistics Park’s first phase, which includes $22 million in infrastructure investments and a total of five buildings totaling more than 3.8 million square feet. The park’s second building, a 400,000-square-foot facility, is under construction and scheduled for completion in the second quarter. At full buildout, the park will feature 9 million square feet of new distribution and e-commerce fulfillment centers, with up to nine buildings ranging in size from 400,000 square feet to 1 million square feet. Southport Logistics Park is a joint venture between PLR and Diamond Realty Investments, a wholly owned subsidiary of Mitsubishi Corp.

February 9, 2017

Multifamily Seniors Housing Texas

Titan Senior Living Starts Construction on 109-Unit Seniors Housing Community in Corpus Christi

by Amy Works February 9, 2017

CORPUS CHRISTI, TEXAS — Titan Senior Living has started construction on Elan: A Senior Lifestyle, a 109-unit seniors housing community that will be situated at the intersection of Saratoga Boulevard and Staples Street in Corpus Christi. Slated to open in the summer of 2018, the property will feature assisted living and memory support services, chef-prepared meals, a bistro, salon, wellness center and 24/7 concierge services. Civitas Senior Living will operate the property.

February 9, 2017

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