Property Type

Heidenberg Properties Group to Redevelop Retail Property in Mahopac, New York

by Amy Works December 6, 2016

MAHOPAC, N.Y. — Heidenberg Properties Group has received final site-plan approval by the planning board of the town of Carmel for the renovation and expansion of Lake Plaza Shopping Center in Mahopac, a hamlet within Carmel. The redevelopment plan includes the demolition of an existing 24,000-square-foot Key Food supermarket and 7,800-square-foot CVS/pharmacy. That will clear room for a 54,000-square-foot Stop & Shop resulting in a new building footprint more than 20,000 square feet larger than the two existing stores. Additionally, the overall retail center will expand from 141,000 square feet to 165,000 square feet. The project also includes the renovation of the façade, repaving of the parking area and upgraded site lighting. Heidenberg Properties plans to start construction in spring 2017.

December 6, 2016

New Hampshire Northeast Office

The Kane Company Arranges 1,367 SF Office Lease in Portsmouth, New Hampshire

by Amy Works December 6, 2016

PORTSMOUTH, N.H. — The Kane Company represented A&A Search Staffing in a lease for 1,367 square feet of office space at 2 International Drive in Portsmouth. The information technology staffing company took occupancy of the space on Dec. 1. Catie Medeiros of The Kane Company represented the tenant, while Russell Doyle provided in-house representation for the landlord, Two International Group, in the deal.

December 6, 2016

Northeast Office Pennsylvania

Arrow Real Estate Services Joins TCN Worldwide Real Estate Services

by Amy Works December 6, 2016

PHILADELPHIA — Arrow Real Estate Services has joined TCN Worldwide Real Estate Services as the newest member of the international real estate services organization. Founded in 2012 with four people, Arrow Real Estate Services has grown to a more than 40-person company with more than 3 million square feet of listings and over 20 local, regional and national retail clients. Serving the greater Philadelphia area, the firm provides real estate brokerage and consulting services, including retailer representation, project leasing, site selection, property dispositions, consultation, property management, and office, medical and industrial representation.

December 6, 2016

Hospitality Texas

HFF Facilitates Sale of 350-Room DoubleTree by Hilton in Downtown Houston

by Amy Works December 6, 2016

HOUSTON — HFF has closed the sale of DoubleTree by Hilton Houston Downtown, a full-service hotel located at 400 Dallas St. within Allen Center in downtown Houston. The hotel features 350 guest rooms, 18,000 square feet of function space, Trofi Restaurant & Bar, Atrium Lobby Lounge and 24-hour fitness and business centers. John Bourret, Austin Brooks, Colby Mueck and Daniel Peek of HFF represented the undisclosed seller. The name of the buyer and acquisition price were not released.

December 6, 2016

Industrial Office Texas

Stream Realty Partners Negotiates Two Sales Totaling 163,420 SF in Dallas Area

by Amy Works December 6, 2016

DALLAS AND CARROLLTON, TEXAS — Stream Realty Partners has brokered two sales totaling 163,420 square feet in Dallas and Carrollton. In the first deal, MOFAM LLC sold a 43,140-square-foot industrial and office building located at 8400 Ambassador Row in Dallas to 8400 Ambassador Row LLC for an undisclosed price. Jason Moser of Stream Realty Partners represented the seller, while Altschuler and Co. represented the buyer. In the second transaction, WRF Investments acquired a 120,280-square-foot industrial property within Prologis Trinity Mills 3 at 2425 Camp Ave. in Carrollton. Lightning PropCo I LLC sold the building for an undisclosed price. Ryan Boozer and Todd Poticny of Stream Realty Partners represented the buyer, while Nathan Denton of Lee & Associates represented the seller.

December 6, 2016

Retail Texas

Marcus & Millichap Arranges Sale of 2,807 SF Retail Property in Lubbock, Texas

by Amy Works December 6, 2016

LUBBOCK, TEXAS — Marcus & Millichap has arranged the sale of a retail property located at 7901 University Ave. in Lubbock. The 2,807-square-foot property was acquired by an individual/private trust in a 1031 exchange for an undisclosed sum. The property is net-leased to Dunkin’ Donuts and Baskin-Robbins. Michael Buckner and Richard Mireles of Marcus & Millichap represented the seller, a limited liability company, while Bruce Bentley III and Douglas Diffie, also of Marcus & Millichap, represented the buyer in the transaction.

December 6, 2016

Retail Texas

Retail Solutions Brokers Three Retail Leases Totaling 6,870 SF in Metro Austin

by Amy Works December 6, 2016

ROUND ROCK, TEXAS — Retail Solutions has brokered three leases totaling 6,870 square feet in Round Rock, a suburb 20 miles north of Austin. In the first deal, Plato’s Closet leased 3,950 square feet of retail space at Sky Ridge Plaza, located at 2000 S IH-35. Andrew Perkel of Retail Solutions represented the tenant, while Drew Smith, also of Retail Solutions, represented the undisclosed landlord. In the second lease, Comet Cleaners leased 1,460 square feet of retail space at 1304 Round Rock Ave. Tucker Francis and Smith of Retail Solutions represented the undisclosed landlord. In the third transaction, Baby Face Salon leased 1,460 square feet of retail space at 1300 Round Rock Ave. Francis and Smith represented the undisclosed landlord in the deal.

December 6, 2016

Restaurant Retail Texas

NAI Robert Lynn Arranges Two Restaurant Leases in Dallas

by Amy Works December 6, 2016

DALLAS — NAI Robert Lynn has represented two tenants in the leasing of restaurant space at Preston Center in Highland Park in Dallas. Go Fish Poke has inked a deal for 2,574 square feet of restaurant space at 6030 Luther Lane for the city’s first true poke concept restaurant. Poke is a raw fish salad or entrée that is traditionally served in Hawaii. Additionally, Yolk has leased 4,604 square feet of space at 8315 Westchester Drive. This will be the breakfast and lunch restaurant’s third location in Dallas. Kornel Romada of NAI Robert Lynn represented the tenants in both transactions. Ryan Stewart provided in-house representation for the landlord, Rosebriar Properties, in the Go Fish Poke transaction, while the Weitzman Group represented the sub-lease of LYFE Kitchen for the Yolk deal.

December 6, 2016

Michigan Midwest Mixed-Use

Platform LLC to Redevelop Former Wayne State Criminal Justice Building in Detroit

by Kristin Harlow December 6, 2016

DETROIT — Platform LLC, the development arm of Peter Cummings, Mike Hammond and Dietrich Knoer, has purchased the former Wayne State University Criminal Justice Building for $2 million. When complete, the redevelopment of the 147,500-square-foot building will include approximately 69 apartment units, 19,000 square feet of retail space and a permanent Wayne State University art gallery. The building, located at 6001 Cass Ave., was originally built in 1920 and is currently vacant. The deal also includes a long-term ground lease of the adjacent property at 445 York Street, where an additional 64 apartment units and 48 condo units are planned. Both properties are located in the north end of Wayne State’s main campus.

December 6, 2016

Illinois Industrial Loans Midwest

Associated Bank Provides $10M Loan for Spec Industrial Development in Schiller Park, Illinois

by Kristin Harlow December 6, 2016

SCHILLER PARK, ILL. — Associated Bank has provided a $10 million land acquisition and construction loan to Bridge Development Partners to redevelop two industrial sites in Schiller Park, about 20 miles northwest of Chicago. The sites are located at 9555 and 9655 Soreng Ave., one mile from the I-294 interchange at Irving Park Road. The parcels were formerly two Hostess Brands sites totaling 9.9 acres. Both sites contained old buildings that have been demolished in preparation for the development of two speculative Class A industrial buildings. The completion of an 84,700-square-foot building and a second 72,825-square-foot building is slated for May 2017. Daniel Barrins of Associated Bank originated the loan.

December 6, 2016

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