Property Type

cd-exchange-dvd-5440-evers-road-san-antonio

SACA Brokers Sale of Two Shopping Centers in San Antonio

by Haisten Willis September 27, 2016

SAN ANTONIO — San Antonio Commercial Advisors (SACA), an independently owned and operated member of the Cushman & Wakefield Alliance, has brokered the sale of two shopping centers located in San Antonio. Both properties are located in the northwest submarket near Loop 410. The first property, located at 5440 Evers Road, is a 4,200-square-foot retail center on 0.3 acres occupied by CD Exchange/DVD Exchange. The second property, located at 6402 Callaghan Road, is a 5,463-square-foot retail center on 0.5 acres with four tenants. SACA’s Brent Smith and Bradley Suttle represented the San Antonio-based seller and procured the buyer as well.

September 27, 2016

Construction Begins on Keene Plaza Redevelopment in Metro Dallas

by Haisten Willis September 27, 2016

KEENE, TEXAS — Construction has begun on the redevelopment of Keene Plaza, a retail development in the city of Keene. Samantha Gillin of Gillin Realty LLC secured the sale of the property and will be working with new owner, James Wright, on the remodeling and leasing of the property, which is located at the corner of Highway 67 and College Street. Wright, a broker with RE/Max in Cleburne, is the developer and owner of Keene Plaza. Upon completion of the redevelopment, Keene Plaza will consist of retail, office and hospitality space ranging from 1,250 square feet to 5,000 square feet.

September 27, 2016

Healthcare Illinois Midwest Office

Ryan Cos. Clearing Site for 11-Acre Office Complex in Metro Chicago

by Haisten Willis September 27, 2016

OAK BROOK, ILL. — Ryan Cos. has begun demolition work on an 11-acre parcel in the eastern portion of Oak Brook to make way for a multi-building office/medical campus. Construction will begin in 2017. In February 2016, Ryan acquired the parcel adjacent to I-88/I-294 with frontage along the western side of York Road. Site demolition will be completed in two phases. In the first phase, the existing 203,000-square-foot industrial building will be demolished. Ryan will resume demolition of the foundations and parking lots in spring 2017 as part of new building construction. The company is also providing development, design-build and real estate management services. NAI Hiffman is the broker and marketing representative for the project, and Wright Heerema Architects is providing architectural services.

September 27, 2016

Illinois Loans Midwest Office

R2 Cos., York Capital Management Provide $23.8M for 770 N. Halsted St. in Chicago

by Haisten Willis September 27, 2016

CHICAGO — R2 Cos. and York Capital Management have competed the $23.8 million recapitalization 770 N. Halsted St. in Chicago. The property consists of two eight-story office buildings in the River West neighborhood totaling 149,000 square feet. Major tenants include Radius, Inxpo and Northeastern Illinois University. R2 has completed a lease with Aire Ancient Baths, a spa with locations in Paris and New York, to open in 2017. The property is located on the border of the River West neighborhood and Goose Island, where R2 owns and operates 500,000 square feet of buildings and 12 acres of land.

September 27, 2016

Midwest Multifamily Wisconsin

Altus Commercial Arranges $8.4M Sale of Lake Edge Apartments in Madison

by Haisten Willis September 27, 2016

MADISON, WIS. — Altus Commercial Real Estate Inc. has arranged the sale of Lake Edge Apartments, located at 4033 Monona Dr. in Madison. Altus represented the seller, Lou Reed, in the transaction. A private investor bought the property for $8.4 million. The newly constructed apartment building includes 42 units, 64 underground parking sites and a private pier on Lake Monona. Lake Edge Apartments features one-, two- and three-bedroom apartments.

September 27, 2016

Michigan Midwest Retail

Mid-America Secures Three Leases in Michigan

by Haisten Willis September 27, 2016

WEST BLOOMFIELD, HOLLAND AND TROY, MICH. — Mid-America Real Estate – Michigan Inc. has secured three new retail leases in Michigan. The leases include: T-Mobile signed a lease for 2,774 square feet at Westgate Shopping Center located at the northwest corner of Orchard Lake Road and Northwestern Highway in West Bloomfield. Mid-America’s Adam Goodman represented the tenant. Potbelly Sandwich Shop signed a lease for 2,656 square feet at The Shops at Westshore located at 12359 James St. in Holland. The tenant will join JCPenney, Younkers and Dunham Sports. Mid-America’s Brad Rosenberg and Adam Goodman represented the tenant. J-Bees signed a lease for 2,400 square feet at Oakland Mall in Troy. The retailer will join Macy’s, JCPenney and Sears at the 499,212-square-foot mall located at 412 W. Fourteen Mile Road. Mid-America’s Brad Rosenberg and Aleyciuss Al-Ali represented the tenant in the transaction.

September 27, 2016

Indiana Midwest Retail

The Boulder Group Brokers Sale of Net Leased Jiffy Lube in Indiana

by Haisten Willis September 27, 2016

LAFAYETTE, IND. — The Boulder Group has brokered the sale of a single-tenant Jiffy Lube property located at 3115 South St. in Lafayette for $910,000. The property is located at the southwest corner of South Street and South Earl Avenue near Purdue University. Randy Blankstein and Jimmy Goodman of The Boulder Group represented both parties in the transaction. A Midwestern private partnership was the seller, while a private REIT was the buyer. The corporately guaranteed Jiffy Lube lease expires Oct. 31, 2022. The lease features 3 percent rental escalations in each of three 5-year renewal option periods. Jiffy Lube is a subsidiary of Shell Oil Co.

September 27, 2016

North Carolina Office Southeast

Dominion, Prudential to Develop 103,000 SF Office Building in Raleigh

by John Nelson September 27, 2016

RALEIGH, N.C. — Dominion Realty Partners and Prudential Global Investment Management plan to develop Wade IV, a new 103,000-square-foot office building within Wade Office Park in Raleigh. The new four-story asset will be Dominion’s 27th project in the Triangle region. Designed to achieve LEED Gold certification, Wade IV will feature a glass, brick, pre‐cast and metal skin exterior, as well as green features and amenities. Dominion Realty will serve as both the developer and on-site property management team for Wade IV, and Regions Bank will provide construction financing for the project. Other key team members include architect Rule Joy Trammell + Rubio, general contractor Choate Construction, civil engineer Piedmont Land Design and leasing agent Avison Young. Choate will break ground on the asset this week for an expected delivery in late summer 2017.

September 27, 2016

Industrial North Carolina Southeast

Scannell to Develop 1 MSF Industrial Park in Triangle

by John Nelson September 27, 2016

KNIGHTDALE, N.C. — Scannell Development Co. has purchased 78.8 acres of land located at 2309 Hodge Road in Knightdale for Eastgate540, a 1 million-square-foot industrial park. Phase I of Eastgate540 will be a 150,000-square-foot building with an adjacent pad-ready site for an additional 150,000-square-foot building. Scannell plans to deliver Phase I by second-quarter 2017. Upon completion, Eastgate540 will include six Class A industrial buildings featuring 32-foot clear heights, an ESFR sprinkler system, T-5 lighting and a shared 190-foot concrete truck court. Chester Allen, Barry Bowling and Carlton Midyette III of CBRE | Raleigh represented the seller, Hicks, Murphy and Myrick Families, in the land sale. Butch Miller, Ann-Stewart Patterson and Bryan Everett of CBRE | Raleigh will handle Eastgate540’s leasing responsibilities.

September 27, 2016

Georgia North Carolina Retail South Carolina Southeast

Big V Capital Purchases Three Shopping Centers in the Southeast for $24M

by John Nelson September 27, 2016

FLORIDA, N.Y. — Big V Capital LLC, the investment management affiliate of New York-based Big V Properties, has closed on the purchase of three shopping centers in the Southeast for a combined $24 million. The properties include the 74,370-square-foot Village at Myrtle Grove in Wilmington, N.C.; the 180,194-square-foot Lancer Center in Lancaster, S.C.; and the 203,876-square-foot Lanier Plaza Shopping Center in Brunswick, Ga. Village at Myrtle Grove was 87 percent leased at the time of sale to tenants such as Staples; Lancer Center was 89 percent leased to Big Lots, Citi Trends, Pet Sense and Bi-Lo; and Lanier Plaza was 81 percent leased to Winn-Dixie, Dollar Tree, Rent-A-Center and Habitat for Humanity. With the purchase of these three assets, Big V Properties owns and/or operates 31 Class A and B shopping centers totaling roughly 3 million square feet.

September 27, 2016

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