Property Type

Marinita Development Co. Completes 95,000 SF Retail Building at Sun Lakes Village in Banning

by Nellie Day August 25, 2016

BANNING, CALIF. — Marinita Development Co. has developed a retail building at Sun Lakes Village Shopping Center, a retail center at the intersection of Highland Springs Avenue and Interstate 10 in Banning. With a grand opening celebration scheduled for the end of September, the 95,000-square-foot building, located at 300 S. Highland Springs Ave., is fully leased to Hobby Lobby, Marshalls, Party City and Big 5 Sporting Goods. Additional tenants at Sun Lakes Village Shopping Center include Albertsons and Rite Aid. Marinita Development has offices in Newport Beach, Calif. and Las Vegas.

August 25, 2016

Indiana Midwest Office

Rubenstein Partners, Strategic Capital Partners Acquire 1.2 MSF Office Complex Near Indianapolis for $162.9M

by Christina Cannon August 25, 2016

CARMEL, IND. — Rubenstein Partners LP and Strategic Capital Partners have acquired Parkwood Crossing, a 1.2 million-square-foot office complex in Carmel approximately 25 miles north of Indianapolis, for $162.9 million. The seller, Duke Realty Corp., developed the eight-building property between 1989 and 2005. The buyers will build a standalone amenity center, which will feature dining, fitness, conference and collaboration space. The joint venture also plans to make upgrades to the buildings’ aesthetics and physical systems. JLL brokered the transaction and will serve as exclusive leasing agent for the property.

August 25, 2016

Midwest Minnesota Mixed-Use

Stahl Construction to Build Eco Village Mixed-Use Project in Minneapolis

by Christina Cannon August 25, 2016

MINNEAPOLIS — Stahl Construction has been selected to build St. Louis Park, an eco-village project in Minneapolis. The mixed-use development will consist of 300 apartments (both affordable and market rate), a hotel and retail space. The development will provide 80 percent of the energy required to run the complex from renewable sources. The transit-oriented community will feature rooftop decks and a one-acre urban forest with public art. Construction on the project is slated to begin next spring. PLACE will serve as the project developer, and STANTEC will provide design services. Other parties involved include MSR Architects, Rachel Contracting, LIFT and Allianz Life.

August 25, 2016

Kansas Midwest Multifamily Seniors Housing

CA Ventures, Pathway Complete $22M Hotel Transformation to Seniors Housing in Kansas

by Christina Cannon August 25, 2016

OLATHE, KAN. — CA Ventures LLC and Pathway Senior Living have opened Travanse Living at Olathe, a 132-unit assisted living and memory care community in Olathe, approximately 25 miles southeast of Kansas City. The project is the first seniors housing community developed by CA Ventures, and is a $22 million adaptive reuse project of a former Holiday Inn. The two-story community sits on a seven-acre site near Olathe Medical Center and several medical office buildings. It features 75 assisted living units and 57 memory care units. CA Ventures owns the property, which Pathway operates. The community also features a rehabilitation facility on site — The Rehab Place at Travanse Living at Olathe — which Olathe Health System operates.

August 25, 2016

Midwest Retail Wisconsin

Friedman Brokers Sale of 67,215 SF Retail Property in Milwaukee Suburb

by Christina Cannon August 25, 2016

PORT WASHINGTON, WIS. — Friedman Integrated Real Estate Solutions has brokered the sale of a 67,215-square-foot retail center in Port Washington, approximately 30 miles north of Milwaukee, for an undisclosed price. PJR Properties, an affiliate of Piggly Wiggly Midwest LLC, purchased the property from CSFB 2002-CKP1 Seven Hills LLC – LNR. North Port Shopping Center, located at 101 W. Seven Hills Road, is situated on a 6.5-acre site and features tenants such as Sentry Foods, Cost Cutters, Subway, H&R Block and Arby’s. The property was sold at auction through Ten-X.com.

August 25, 2016

Florida Multifamily Southeast

Private Investor Purchases Two Apartment Communities in Tampa Area for $95.6M

by John Nelson August 25, 2016

TAMPA AND BRANDON, FLA. — An unnamed private investor has purchased two apartment communities in Tampa and Brandon for a total of $95.6 million. The portfolio sale included Columns at Brandon West, a 342-unit, Class A apartment community located at 10011 Balaye Run Drive in Tampa. A joint venture between ECI Group and funds managed by Ares Management LP sold the asset for $46 million. Completed in 2001, the 96 percent-occupied property features 10 three-story buildings surrounding two lakes. The one-, two- and three-bedroom units feature nine-foot ceilings, in-unit washers and dryers, walk-in closets and screened-in balconies/patios. Community amenities include a recently updated clubhouse and poolside lounge, resort-style swimming pool, outdoor kitchen, fitness studio, movie screening room, self-service car wash and a nature trail. The buyer also purchased Westbury at Lake Brandon, a 366-unit property located approximately three miles southeast of Columns at Brandon West at 1210 Westbury Pointe Drive in Brandon. An affiliate of Goff Capital Partners sold the property for $49.6 million. Completed in 2001, the 95 percent-occupied, garden-style property features one-, two- and three-bedroom units averaging 988 square feet. Units feature breakfast bars, designer kitchens, crown molding, full-size washers and dryers and walk-in closets. Community amenities include …

August 25, 2016

Georgia Loans Office Southeast

NXT Capital Provides $13.6M Acquisition Loan for Office Building in Atlanta

by John Nelson August 25, 2016

ATLANTA — NXT Capital has provided a $13.6 million acquisition loan for the purchase of Northridge Plaza, a six-story, Class B office building in Atlanta. The 128,000-square-foot property is located at the intersection of GA 400 and Northridge Road.

August 25, 2016

Alabama Hospitality Southeast

Hunter Hotel Advisors Brokers $13.3M Sale of Hilton Birmingham Perimeter Park

by John Nelson August 25, 2016

BIRMINGHAM, ALA. — Hunter Hotel Advisors has brokered the sale of the 205-room Hilton Birmingham Perimeter Park in Birmingham. The buyer, Atlanta-based Peachtree Hotel Group, purchased the eight-story hotel with plans to invest $10.5 million to renovate and reposition the property into a DoubleTree by Hilton hotel. The sales price and seller were undisclosed, but the Birmingham Business Journal reports the sale price as nearly $13.3 million.

August 25, 2016

Maryland Retail Southeast

H&R Retail Arranges Hobby Lobby’s 57,497 SF Lease in Maryland

by John Nelson August 25, 2016

CALIFORNIA, MD. — H&R Retail has represented Hobby Lobby in its 57,497-square-foot lease for a new store at Laurel Glen Shopping Center. The asset is located at 45315 Alton Lane in California. David Ward and Ben Hoskins of H&R Retail, along with The Keith Corp., brokered the transaction. Shanri Holdings Corp. owns the new store, which is set to open in early 2017.

August 25, 2016

Industrial Kentucky Southeast

NAI Isaac Brokers $1.8M Sale of Industrial Facility in Lexington

by John Nelson August 25, 2016

LEXINGTON, KY. — NAI Isaac has brokered the $1.8 million sale of a 33,000-square-foot industrial facility located at 1387 E. New Circle Road in Lexington. The undisclosed buyer plans to renovate and expanding the building. Al Isaac and Jamie Adams of NAI Isaac represented the seller, McLean Properties Inc., in the transaction. David Allen of The Gibson Co. represented the buyer.

August 25, 2016

Newer Posts

Older Posts