Property Type

CBRE Retained as Leasing Agent for Huntington Center in Downtown Columbus

by Amy Works September 8, 2016

COLUMBUS, OHIO — CBRE has been retained as the exclusive leasing agent for Huntington Center, located at 41 S. High St. in Columbus. The 37-story, 1 million-square-foot office tower features 27,000 square feet of retail space, a 1,000-car parking facility and a 29,650-square-foot athletic club. Brad McMahon and Don Roberts of CBRE will lease the building on behalf of Hines, which owns and manages the property. Hines plans to make significant upgrades to the property, including a new amenity package with a tenant lounge, rooftop patio and secure bike storage. Hartshorne Plunkard Architecture is designing the upgrades.

September 8, 2016

Illinois Midwest Retail

L3 Corp. Arranges Four Retail Leases Totaling 32,391 SF in Illinois, Missouri

by Amy Works September 8, 2016

EAST ST. LOUIS AND EDWARDSVILLE, ILL., AND CREVE COEUR AND WASHINGTON, MO. — L3 Corp. has arranged four leases totaling 32,391 square feet of retail space in Illinois and Missouri. In East St. Louis, Menyoun Jordan d/b/a Balloons R Us leased 2,150 square feet of retail space at State Street Shopping Center. L3 Corp. represented the landlord, State Street Shopping Center LLC, in the deal. In Edwardsville, Ross Dress for Less inked a deal for 25,000 square feet of retail space at Dierbergs Edwardsville Crossing from GCE Outparcels LLC. L3 Corp. represented the tenant in the transaction. In the third deal, BARRESTL2 LLC d/b/a barre3 leased 2,241 square feet of space at Heritage Place in Creve Coeur from Ramco-Gershenson Properties LP. Kevin Shapiro of L3 Corp. represented the tenant. In the final transaction, Sterling Inc. d/b/a/ Kay Jewelers signed a deal for 3,000 square feet of space at Phoenix Center II in Washington from PC II Vertical LLC. L3 Corp. represented the tenant and landlord in the deal.

September 8, 2016

Midwest Minnesota Office

Cushman & Wakefield NorthMarq Arranges 9,800 SF Office Lease in Minneapolis Suburb

by Amy Works September 8, 2016

BROOKLYN CENTER, MINN. — Cushman & Wakefield NorthMarq, on behalf of landlord The AtWater Group, has arranged the lease of 9,800 square feet of office space at Concorde Executive Center in Brooklyn Center, a suburb of Minneapolis. United Food and Commercial Workers will move into the space by Nov. 1. With this lease, the six-story property’s occupancy rate is 67 percent. Aaron Barnard of Cushman & Wakefield Northmarq represented The AtWater Group in the deal.

September 8, 2016

Hawaii Retail Western

DeBartolo Development to Open 1.4 MSF Mall in Hawaii

by Nellie Day September 8, 2016

KAPOLEI, HAWAII— DeBartolo Development is set to open Ka Makana Alii, a 1.4 million-square-foot regional mall currently under construction in the West Oahu city of Kapolei, in late October. Anchored by the first Macy’s in West Oahu, Phase I of Ka Makana Alii features more than 100 shops and restaurants, a state-of-the-art Consolidated Theatres and the state’s first Hampton Inn & Suites. DeBartolo Development broke ground on the project in March 2015. Other tenants at the center will include H&M, Forever 21, Victoria’s Secret, Old Navy, Five Guys Burgers and Fries, California Pizza Kitchen, AT&T, PetSmart and Foot Locker.

September 8, 2016

California Multifamily Student Housing Western

CSU Monterey Bay Acquires Student Housing Community in California for $68.5M

by Nellie Day September 8, 2016

SEASIDE, CALIF. — The University Corp. at Monterey Bay — an auxiliary corporation of California State University, Monterey Bay — has acquired a 579-bed student housing community located adjacent to the university’s campus in Seaside for $68.5 million. AMCAL Equities LLC sold the project, called The Promontory. The university had a 20-year master lease on the community with an option to purchase after the first 12 months, which it chose to exercise. Community amenities at the property include an internet café, basketball half-court, community clubroom, 24-hour study areas, bicycle storage, fitness center and outdoor grills and seating areas.

September 8, 2016

Hawaii Loans Retail Western

Sonnenblick-Eichner Co. Secures $59M Refinancing for Pearl City Gateway in Hawaii

by Nellie Day September 8, 2016

PEARL CITY, HAWAII — Sonnenblick-Eichner Co. has secured a $59 million in first mortgage debt to refinance Pearl City Gateway, a 146,205-square-foot shopping center located roughly 12 miles outside of Honolulu in Pearl City. The 10-year, fixed-rate financing was secured on behalf of the borrower, Robertson Properties Group, through New York Life Real Estate Investors. The loan carries an interest rate of less than 4 percent with a 30-year amortization schedule. Pearl City Gateway is fully leased to tenants including Babies R Us, TJ Maxx, Petco, McDonalds, AT&T, Domino’s and Subway.

September 8, 2016

California Retail Western

Wesco Properties Acquires Two-Building Retail Property in Orange County for $13.7M

by Nellie Day September 8, 2016

IRVINE, CALIF. — Wesco Properties Inc. has acquired a two-building retail site located in Irvine for $13.7 million. The buildings total 12,577 square feet, and are leased to Mimi’s Café and Islands Restaurant. Jeff Conover of Faris Lee represented the seller, VR Irvine Pad LLC, and Tony Dorn of Beitler Commercial Realty Services represented the buyer in the 1031 exchange transaction.

September 8, 2016

California Restaurant Retail Western

Burgerim Opens Second U.S. Location

by Nellie Day September 8, 2016

LOS ANGELES — Burgerim, a better-burger concept, has opened its second U.S. location in Montclair, Calif. Burgerim is set to open 33 franchised restaurants in the next year across the country, including in Memphis, Tenn.; Boca Raton, Fla.; and Houston, Texas. Burgerim currently operates in over 200 locations in 16 countries. Burgerim’s first U.S. location is at 5001 Melrose Ave., in Los Angeles.

September 8, 2016

New Jersey Northeast Retail

CBRE Brokers $15.6M Sale of Retail Property in New Jersey

by Amy Works September 8, 2016

MAPLE SHADE, N.J. — CBRE has arranged the sale of a retail property located at 131 E. Kings Highway in Maple Shade. Apex Financial Advisors acquired the property from SIN Ventures Maple Shade for $15.6 million. The 109,841-square-foot, free-standing property is occupied by BJ’s Wholesale Club. Brad Nathanson of CBRE represented the seller and procured the buyer in the deal.

September 8, 2016

New Jersey Northeast Office

Colliers Facilitates $63M Sale of 650,000 SF Office Property in New Jersey

by Amy Works September 8, 2016

HACKENSACK, N.J. — Colliers International has arranged the sale of Continental Plaza, a landmark corporate property located at 401, 411 and 433 Hackensack Ave. in Hackensack. Capstone Realty Group and JD Cos. acquired the three-building complex from a Miami-based special servicer for $63 million. The 650,000-square-foot office was 72 percent leased at the time of sale. Jacklene Chesler of Colliers, along with her team, brokered the transaction.

September 8, 2016

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