Property Type

The Klein Group, Sterling Properties Receive $17.5M in Refinancing for Retail Center in Warren, New Jersey

by Amy Works January 16, 2017

WARREN, N.J. — The Klein Group and Sterling Properties Group have received $17.5 million in refinancing for Warren Village Shopping Center, a grocery-anchored retail center in Warren. Loan proceeds will be used to refinance existing debt. The 10-year, fixed-rate loan was provided by a life company. Kings Supermarket, Country Squire Restaurant, Peapack-Gladstone Bank, Massage Envy, Remax, European Wax Center, Starbucks Coffee, Edgewood Pharmacy, Impact Martial Arts and The UPS Store occupy the 99.3 percent leased center. Jon Mikula and Jim Cadranell of HFF arranged the financing for the borrower.

January 16, 2017

Connecticut Industrial Northeast

Sentry Commercial Brokers 59,100 SF Industrial Lease in Windsor, Connecticut

by Amy Works January 16, 2017

WINDSOR, CONN. — Sentry Commercial has arranged the lease of an industrial facility located at 4 Market Circle in Windsor. A&S Innersprings USA leased the 59,100-square-foot building, which is situated on 7.5 acres, from Market Circle LLC. Sentry Commercial represented the undisclosed landlord, while Cushman & Wakefield represented the tenant in the deal.

January 16, 2017

Retail Texas

EDGE Capital Markets Negotiates Sale of 11,981 SF Retail Property in Houston

by Amy Works January 16, 2017

HOUSTON — EDGE Capital Markets has arranged the sale of Briar Forest Plaza, a retail property located at 13346 Briar Forest Drive in Houston. At the time of sale, the 11,981-square-foot property was fully leased. Josh Jacobs and Burdette Huffman of EDGE Capital Markets represented the undisclosed seller, while Mark Kalil of Mark Kalil & Associates represented the undisclosed buyer in the deal. The acquisition price was not released.

January 16, 2017

Industrial Oklahoma Texas

CBRE Brokers $2.1M Sale of Industrial Facility in Oklahoma City

by Amy Works January 16, 2017

OKLAHOMA CITY — CBRE has arranged the sale of an industrial property located at 2330 N.W. 10th St. in Oklahoma City. Interstate Real Estate Co. sold the 43,442-square-foot property to SFI 10th Street LLC for $2.1 million. Caitlin Mazaheri, John Lenochan and Jason Hammock of CBRE represented the seller, while Brett Price with Newmark Grubb Levy Strange Beffort represented the buyer in the deal.

January 16, 2017

Multifamily Texas

Marcus & Millichap Facilitates Sale of 72-Unit Multifamily Property in Brownsville, Texas

by Amy Works January 16, 2017

BROWNSVILLE, TEXAS — Marcus & Millichap has brokered the sale of Jefferson Square, a multifamily property located at 230 W. Jefferson St. in Brownsville. A private investor acquired the 72-unit property for an undisclosed price. Built in 1981, the property features 36 one-bedroom/one-bath units and 36 two-bedroom/one-bath units. Mike Moffitt Jr. of Marcus & Millichap represented the seller, a partnership, and secured the buyer in the transaction.

January 16, 2017

Loans Multifamily Texas

BMC Capital Arranges $1.5M in Refinancing for Multifamily Property in Metro Dallas

by Amy Works January 16, 2017

GARLAND, TEXAS — BMC Capital has arranged a $1.5 million loan for a multifamily property located in Garland, roughly 18 miles northeast of Dallas. The non-recourse loan features a seven-year term, fixed interest rate of 3.99 percent and a 30-year amortization schedule. Clayton Wells of BMC Capital secured the financing for the undisclosed borrower.

January 16, 2017

Loans Multifamily Texas

Dougherty Mortgage Closes $1.2M Loan for 101-Unit Multifamily Property in Saginaw, Texas

by Amy Works January 16, 2017

SAGINAW, TEXAS — Dougherty Mortgage has arranged a $1.2 million Fannie Mae Supplemental loan for the refinancing of The Crossing Apartments in Saginaw. The multifamily property features 101 apartment homes. Dougherty’s Vienna, Va., office arranged the 7.5-year loan with a 30-year amortization schedule on behalf of the borrower, DCP Crossing.

January 16, 2017

Midwest Ohio Retail

Time Equities Acquires 425,430 SF Shopping Mall in Zanesville, Ohio for $31.5M

by Kristin Harlow January 16, 2017

ZANESVILLE, OHIO — Time Equities Inc. (TEI) has acquired Colony Square Mall in Zanesville, 50 miles east of Columbus, for $31.5 million. The 425,430-square-foot shopping mall is located at 3575 Maple Ave. Tenants include TJ Maxx, Shoe Carnival, Planet Fitness, JC Penney and more. TEI’s Ami Ziff, Jonathan Kim and Adam Levitt represented the company in the acquisition. Margaret Caldwell and Eric Spencer of Jones Lang LaSalle represented the seller, Rouse Properties. Urban Retail Properties LLC will oversee the management, marketing and leasing operations on behalf of TEI.

January 16, 2017

Illinois Midwest Office

CBRE Arranges $12.7M Sale of Office Property in Schaumburg, Illinois

by Kristin Harlow January 16, 2017

SCHAUMBURG, ILL. — CBRE has arranged the sale of Parkway Corporate Place in Schaumburg for $12.7 million. Totaling 161,741 square feet, the three-building office property is located on 16.1 acres. The property is currently 88 percent leased. Sperry Equities LLC was the buyer. Bill Novelli, Derek Fohl, Robert Graham and Dan Bessey of CBRE represented the undisclosed seller in the transaction.

January 16, 2017

Industrial Midwest Wisconsin

Avison Young to Arrange Sale-Leaseback of 719,599 SF Industrial Portfolio Near Milwaukee

by Kristin Harlow January 16, 2017

MILWAUKEE — Gehl Foods has selected Avison Young to market the sale of its 719,599-square-foot industrial portfolio near Milwaukee. The portfolio consists of four buildings owned and occupied by Gehl Foods, a producer of ready-to-serve dairy products. Gehl Foods has invested more than $100 million in capital improvements and specialized equipment in the buildings. The portfolio will be sold as a 15-year, triple-net leaseback with annual lease rate escalations on the properties. Three of the buildings are located in Germantown, Wis., while one building is located in West Bend. Erik Foster and Mike Wilson of Avison Young will represent the owner.

January 16, 2017

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