Property Type

Cushman & Wakefield Arranges $14.2M Sale of Best Plaza in Metro San Diego

by Nellie Day February 6, 2017

OCEANSIDE, CALIF. — Cushman & Wakefield has arranged the $14.2 million sale of Best Plaza, a 65,211-square-foot shopping center in Oceanside, located 38 miles outside San Diego. The center was 35 percent occupied at the time of sale by tenants including CVS/pharmacy, Chase Bank and Papa John’s Pizza. Pacifica Cos. acquired the property from 1702 Oceanside Associates LTD through an online auction. Dixie Walker and Charley Simpson of Cushman & Wakefield and Ron Pepper of Retail Insite represented the seller in the transaction.

February 6, 2017

Retail Utah Western

Dillard’s to Open at Layton Hills Mall in Salt Lake City

by Nellie Day February 6, 2017

SALT LAKE CITY — CBL & Associates Properties Inc. has announced that Dillard’s will open a new store in the former Macy’s location at Layton Hills Mall in Salt Lake City. Construction on the 160,000-square-foot store is set to begin in April, with an anticipated opening for fall 2017.

February 6, 2017

California Retail Western

New Era Opens First Retail Store in Los Angeles

by Nellie Day February 6, 2017

LOS ANGELES — New Era has opened the doors to its permanent retail space — The New Era D-Lab — inside STAPLES Center in Los Angeles. Inside the new 3,160-square-foot store is a ‘New Era by You’ customization area. Customers can design their own New Era cap by choosing from hundreds of team logos, colors and fabrics. The single-level store also features: • The Blocking Machine: Used to stretch a cap to fit a person’s head more comfortably, to reshape a cap to its original form and to clean a cap. • The Heat Seal Machine: Used to adhere a patch to the side of a cap. The New Era D-Lab is part of a multi-year agreement, brokered by AEG Global Partnerships in 2016, which named New Era as a founding partner and the exclusive headwear supplier of L.A. LIVE, the LA Kings, Microsoft Theater and The Novo by Microsoft. The store is located in the front of STAPLES Center on the corner of Chick Hearn Court and Figueroa, looking onto Microsoft Square.

February 6, 2017

Michigan Midwest Office

Microsoft to Move Technology Center to Downtown Detroit

by Kristin Harlow February 6, 2017

DETROIT — Microsoft Corp. has unveiled plans to move its Michigan Microsoft Technology Center (MTC) from Southfield to downtown Detroit in early 2018. The company will occupy more than 40,000 square feet in Bedrock’s One Campus Martius building. There are more than 40 MTCs worldwide, which bring together resources to help clients explore their products. Bedrock is the real estate arm of Dan Gilbert’s business portfolio, specializing in acquiring, leasing, financing, developing and managing commercial and residential space. Since its founding in 2011, Bedrock has located more than 160 office and retail tenants to downtown Detroit.

February 6, 2017

Illinois Industrial Midwest

Opus to Construct 111,345 SF Industrial Building in Romeoville, Illinois

by Kristin Harlow February 6, 2017

ROMEOVILLE, ILL. — The Opus Group has unveiled plans to construct a 111,345-square-foot, speculative industrial building in Romeoville. 101 Paragon will be the second and final phase of the company’s project at Paragon Business Park. Two other speculative industrial developments were constructed in 2016. 101 Paragon will feature 30-foot clear heights, 12 loading docks and 16 trailer parking positions. Completion is slated for August 2017. Opus Development Co. LLC is the developer, Opus Design Build LLC is the design-builder and Opus AE Group LLC is the architect and structural engineer. Jason West and Sean Henrick of Cushman & Wakefield will market the property for lease.

February 6, 2017

Hospitality Midwest Ohio

Hilton Home2 Suites Opens in Cleveland

by Kristin Harlow February 6, 2017

CLEVELAND — Home2 Suites by Hilton Cleveland Beachwood has opened in Cleveland. The hotel features 91 suites with fully equipped kitchens. Amenities include a laundry and fitness area, indoor and outdoor pools and a grill area. The hotel is located at 3589 Park East Drive. Beachwood Hotels LLC is the owner and Atlantic Hospitality and Management is the manager.

February 6, 2017

Kansas Loans Midwest Multifamily

MCA Arranges $17.5M Fannie Mae Loan for Multifamily Property in Overland Park, Kansas

by Kristin Harlow February 6, 2017

OVERLAND PARK, KAN. — Metropolitan Capital Advisors Ltd. (MCA) has arranged a $17.5 million loan for the refinancing of The Dunes at St. Andrews Apartments in Overland Park. The property, built in 2000, consists of 240 units and is 97 percent occupied. The 10-year loan features an interest rate of 4.3 percent. Charley Babb and Tiffany Mullins of MCA placed the loan with a Fannie Mae/DUS lender.

February 6, 2017

Indiana Industrial Midwest

SkyView Advisors Brokers Sale of 164,640 SF Self-Storage Portfolio in Northwest Indiana

by Kristin Harlow February 6, 2017

INDIANA — SkyView Advisors has brokered the sale of R&R American ULock, a five-property portfolio of self-storage facilities located in northwest Indiana. The sales price was not disclosed. The properties total 164,640 square feet and consist of 916 non-climate controlled units. The facilities were built from 1989 to 2007. The units range in size from 60 to 880 square feet. Ryan Clark and Jay Crotty of SkyView Advisors represented the seller, DCG Enterprises LLC, as well as the undisclosed buyer.

February 6, 2017

Georgia Multifamily Southeast

Cushman & Wakefield Brokers $58.8M Sale of Apartment Community in Flowery Branch, Georgia

by John Nelson February 6, 2017

FLOWERY BRANCH, GA. — Cushman & Wakefield’s Atlanta multifamily team has brokered the sale of TreePark, a 456-unit apartment community located in Flowery Branch. Toronto-based Venterra Realty purchased the asset from Atlanta-based Watkins Real Estate Group for $58.8 million. The community was developed in 2006 on 38 acres east of Lake Lanier. Amenities include a resort-style clubhouse, swimming pool, lighted tennis courts, walking trail, park area with green space, spa and parking areas for RVs and boats. Brandon Whitesell, Chris Spain and Alex Brown of Cushman & Wakefield represented Watkins in the transaction. TreePark was 93.4 percent occupied at the time of sale.

February 6, 2017

Florida Loans Seniors Housing Southeast

Greystone Arranges $48.5M Refinancing for Seniors Housing Property in Tampa Bay Area

by John Nelson February 6, 2017

SEMINOLE, FLA. — Greystone has arranged a $48.5 million refinancing for Lake Seminole Square, a seniors housing community in the Tampa suburb of Seminole. Brookdale operates the entrance-fee continuing care retirement community. Further details were not disclosed. Greystone’s seniors housing lending team of Scott Kavel, Neal Raburn and Cary Tremper completed the Fannie Mae financing.

February 6, 2017

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