Property Type

NorthMarq Arranges $46.5M Acquisition Loan for Multifamily Property in Overland Park, Kansas

by Kristin Harlow March 9, 2017

OVERLAND PARK, KAN. — NorthMarq Capital has arranged a $46.5 million loan for the acquisition of Residences at Prairiefire in Overland Park. The 426-unit multifamily property is located at 5750 W. 137th St. The 10-year loan features a 30-year amortization schedule. NorthMarq arranged the financing through Fannie Mae. The borrower was a joint venture between a local Kansas City-based sponsor and a national private equity real investment manager. The private equity firm invested on behalf of a large municipal retirement fund.

March 9, 2017

Hospitality Indiana Loans Midwest

Vista Capital Arranges $9.3M Loan for Refinancing of Hotel in Munster, Indiana

by Kristin Harlow March 9, 2017

MUNSTER, IND. — Vista Capital Co. has arranged a $9.3 million loan for the refinancing of the Hampton Inn & Suites in Munster. Opened in 2004, the 91-room hotel is located 25 miles from Chicago. A European-based investment bank provided the 10-year loan. The borrower was not disclosed.

March 9, 2017

Healthcare Midwest Nebraska

Darland to Construct 45,000 SF Handicap Accessible School in Omaha

by Kristin Harlow March 9, 2017

OMAHA, NEB. — Darland Construction Co. has partnered with BCDM Architects and Omaha Public Schools to build a school for students with special needs. J.P. Lord School will be relocated from its current location at the University of Nebraska Medical Center’s main campus to a new location near 45th and Marinda streets. The 45,000-square-foot school will feature handicap accessible hallways and classrooms, multi-sensory elements, a therapy pool and mobility devices throughout. The school serves students ages five to 21, and the new location is slated to open in the fall of 2018.

March 9, 2017

Industrial Kansas Midwest

Simmons Pet Foods Signs 42,960 SF Industrial Lease in Topeka

by Kristin Harlow March 9, 2017

TOPEKA, KAN. — Simmons Pet Foods has signed a 42,960-square-foot industrial lease in the Forbes Industrial Park in Topeka. The building is located at 7215 SW Topeka Blvd. Jerry Fogel of Kessinger/Hunter negotiated the lease transaction. The Arkansas-based pet food manufacturer also maintains an operations plant in Emporia, Kan.

March 9, 2017

Midwest Office Wisconsin

MPI Corporate Holdings Enters Into 6,500 SF Office Lease in Milwaukee

by Kristin Harlow March 9, 2017

MILWAUKEE — MPI Corporate Holdings Inc. has entered into a 6,500-square-foot office lease in Milwaukee. The investment holding company will occupy space at 1123 N. Water St. Matt Fahey and Ben Anderson of Colliers International brokered the lease transaction. MPI currently maintains an office in Indianapolis.

March 9, 2017

Hospitality Massachusetts Mixed-Use Multifamily Northeast Office Retail

Cottonwood Management Opens Boston Office, Commences Pre-Construction on Mixed-Use Development

by Haisten Willis March 9, 2017

BOSTON — Cottonwood Management Group is opening a new Boston regional office at 101 Seaport Blvd. in the city’s Seaport district. The California-based asset management and development company has also commenced pre-construction on its Seaport Square Parcel M1M2 development, which is located next door. The M1M2 project consists of 1 million square feet of mixed-use development over 3.5 acres in Seaport Square. The residential component includes 730-plus units in two condominium towers and one luxury rental tower. In addition to the residences, the project includes 125,000 square feet of two-story retail and restaurants centered around a vibrant public courtyard. Construction is scheduled to span three years with phased completion dates in late 2019 to early 2020. In addition to serving as its regional office, part of Cottonwood’s Seaport Boulevard space will be used as the sales center for the project’s residential component. The company is preparing for an official groundbreaking for the project in May.

March 9, 2017

Industrial New Jersey Northeast

NAI Mertz Secures Sale-Leaseback for 55,000-SF Industrial Building in Swedesboro, N.J.

by Haisten Willis March 9, 2017

SWEDESBORO, N.J. — NAI Mertz has secured a sale-leaseback transaction at 509 Heron Drive, a 55,000-square-foot industrial building in Swedesboro. A subsidiary of Burton Real Estate purchased the building. NAI Mertz’s Jonathan Klear and Fred Meyer were the sole brokers in the transaction. Located within Pureland Industrial Complex, 509 Heron Drive features a crane-served warehouse and an existing two-story office, as well as a computer room, and reception and kitchen areas. Situated on a 14.7-acre lot, the building features two drive-in doors, five loading docks and one drive-thru service bay. The warehouse includes 22-foot clear ceiling heights and 40-foot by 40-foot column spacing. The warehouse area also includes five cranes. Offering access to Exit 10 of I-295, Pureland Industrial Complex is home to tenants such as Amazon, Home Depot and Mitsubishi.

March 9, 2017

Northeast Pennsylvania Retail

Colliers Arranges $7.4M Sale of Multi-Building Retail Parcel in Metro Philadelphia

by Haisten Willis March 9, 2017

SPRINGFIELD, PA. — Colliers International has arranged the $7.4 million sale of a multi-building, 5.5-acre retail parcel located at 5202 Baltimore Pike in Springfield. BET Investments bought the property, which is situated on a signalized corner at Baltimore Pike and Oak Avenue. Burlington Stores Inc. was the seller. Plans call for the site to be redeveloped for retail uses. The Colliers retail team of Todd Sussman and Josh Goldfine represented Burlington Stores. Colliers’ Rich Weitzman represented BET Investments.

March 9, 2017

Retail Southeast Virginia

Regency Centers Begins Construction on $44.5M Wegmans-Anchored Shopping Center in Metro D.C.

by John Nelson March 9, 2017

CHANTILLY, VA. — Regency Centers Corp. has broken ground on The Field at Commonwealth, a $44.5 million, 180,000-square-foot shopping center located at the intersection of U.S. Highway 28 and Westfields Boulevard in Chantilly, roughly 25 miles west of Washington, D.C. The project will be anchored by a 120,000-square-foot Wegmans, a Rochester, N.Y.-based chain that operates large, upscale supermarkets. Regency Centers plans to deliver the shopping center in 2018.

March 9, 2017

Mixed-Use Southeast Virginia

Edens, Gables Residential Break Ground on Mixed-Use Project in Alexandria

by John Nelson March 9, 2017

ALEXANDRIA, VA. — Edens and Gables Residential have broken ground on a new mixed-use project located at 530 First St. in Alexandria. The groundbreaking ceremony was attended by principals of Edens and Gables Residential, as well as Alexandria Mayor Allison Silberberg and members of the city government. The project will include 232 apartment residences and 50,000 square feet of commercial space. The property will also feature an enhanced streetscape, public art on-site and a Capital Bikeshare station. Edens and Gables Residential plan to open the 530 First Street project in 2019.

March 9, 2017

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