Property Type

Brookfield Corners Tops Off Two Apartment Buildings in Brookfield, Wisconsin

by Amy Works October 7, 2016

BROOKFIELD, WIS. — Brookfield Corners LLC has topped off Dempsey Place and Garrison Court, two apartment buildings that are part of The Corners, a $220 million mixed-use lifestyle redevelopment project on West Bluemound Road in Brookfield. With a combined total of 244 apartment homes, the buildings are situated above 400,000 square feet of shopping and dining space. The properties offer a mix of studio, one-bedroom, two-bedroom and two-bedroom/den layouts, as well as fitness rooms, social rooms, a movie screening room and outdoor terrace with fire pit. Initial occupancy of the apartments is slated for mid-2017, and the retail portion of The Corners is scheduled to open in spring 2017. Mandel Property Services is the residential leasing and management company for The Corners.

October 7, 2016

Illinois Midwest Multifamily Student Housing

Foresite Realty Partners Brokers Sale of Student Housing Community in Carbondale, Illinois

by Amy Works October 7, 2016

CARBONDALE, ILL. — Foresite Realty Partners has arranged the sale of St. Germain Square, a student housing rental community in Carbondale. The four-building property features 122 units in a mix of studio, one-bedroom and two-bedroom layouts. Donald Shapiro of Foresite Realty Advisors and Kristen Keehnast of Foresite Realty Partners represented the undisclosed seller in the transaction. The name of the buyer and the acquisition price were not released.

October 7, 2016

Illinois Midwest Multifamily

@properties Commercial Facilitates $3.1M Sale of Multifamily Building in Chicago’s Rogers Park

by Amy Works October 7, 2016

CHICAGO — @properties Commercial has brokered the sale of a multifamily property located at 6900 N. Sheridan Road in the Rogers Park neighborhood of Chicago. A private limited liability company acquired the property for $3.1 million, or $525,000 per unit. Restored and renovated in 2013, the six-unit property was 100 percent occupied at the time of sale. The building features a mix of two-, three- and four-bedroom apartments. Kevin Rocio of @properties represented the seller, a private limited liability company, in the transaction.

October 7, 2016

Illinois Midwest Restaurant Retail

Nando’s Peri-Peri to Open Three Locations in Chicagoland

by Amy Works October 7, 2016

SKOKIE, OAK BROOK AND HYDE PARK, ILL. — Nando’s Peri-Peri is opening three locations this fall in Chicagoland. The restaurants in Skokie, Oak Brook and Hyde Park will be the company’s ninth, tenth and eleventh locations in the Chicago area. The South African-Portuguese restaurant operates locations in 23 nations from Australia to Zimbabwe.

October 7, 2016

Georgia Industrial Southeast

Wayfair to Open New Distribution Center in Metro Atlanta

by John Nelson October 7, 2016

MCDONOUGH, GA. — Wayfair, a Boston-based e-commerce retailer specializing in home furnishings and décor, will locate its newest distribution center in McDonough, a southern suburb of Atlanta in Henry County. Wayfair will lease space within Phase II of King Mill Distribution Park, an 846,496-square-foot distribution center/warehouse located at 130 Distribution Drive. Trammell Crow Co. and Allstate co-developed the property. Wayfair’s new location will create more than 150 jobs in logistics and fulfillment. Founded in 2002, Wayfair offers more than 7 million products from over 7,000 suppliers across five brands: Wayfair.com, AllModern, Birch Lane, DwellStudio and Joss & Main. The company has more than 5,300 employees in North America and Europe. Wayfair worked with the Georgia Department of Economic Development, Henry County Development Authority, Georgia Ports Authority, Metro Atlanta Chamber, Georgia Power and Transwestern on the new project.

October 7, 2016

Georgia Hospitality Southeast

Noble, Simon Open AC Hotel Atlanta Buckhead at Phipps Plaza

by John Nelson October 7, 2016

ATLANTA — A joint venture between Noble Investment Group and Simon has opened the AC Hotel Atlanta Buckhead at Phipps Plaza in Atlanta’s Buckhead district. Designed by Atlanta-based architectural firm Cooper Carry, the 166-room hotel is situated at the corner of Peachtree Street and Wieuca Road adjacent to Phipps Plaza and Lenox Square Mall. The property is the first new hotel to open in Buckhead in the past eight years. The hotel’s windows will feature View Dynamic Glass technology to automatically tint based on the sun’s intensity, which will maximize natural light and reduce heat and glare. Amenities include the AC Library, AC Lounge, AC Kitchen, a 24-hour fitness center and a heated indoor whirlpool.

October 7, 2016

Maryland Retail Southeast

Petrie Richardson, PGIM Real Estate Break Ground on Nordstrom Rack at Woodmore Towne Centre

by John Nelson October 7, 2016

GLENARDEN, MD. — Petrie Richardson Ventures and PGIM Real Estate, co-owners and developers of the 700,000-square-foot Woodmore Towne Centre, have broken ground on a new Nordstrom Rack store. Situated on a five-acre parcel within Woodmore Towne Centre in Glenarden, the 30,000-square-foot store will serve as Prince George’s County’s first Nordstrom Rack. The parcel will also include 29,000 square feet of retail and restaurant space for tenants that will be announced in the coming months. Woodmore Towne Centre is currently 90 percent leased to tenants including Wegmans, Costco, JC Penney, Best Buy, Petco, Chipotle Mexican Grill, Subway, KBQ Barbeque, Noodles & Co. and Irie Bar & Grill. Recently opened retailers and restaurants include Hook and Reel Cajun Seafood Restaurant, Honu Hawaiian BBQ and Kumon Learning Center. Kobe Japanese Steak & Food and Wings 21 will open later this year at Woodmore Towne Centre.

October 7, 2016

Industrial North Carolina Southeast

Avison Young Arranges 100,000 SF Industrial Lease in Charlotte

by John Nelson October 7, 2016

CHARLOTTE, N.C. — Avison Young has arranged a nearly 100,000-square-foot industrial lease within Westlake Business Park in Charlotte. Printful, a Los Angeles-based print-on-demand e-commerce retailer, will occupy the entire building located at 11025 Westlake Drive, which will serve as the home of the company’s East Coast operations. Christopher Skibinski and Alex Spears of Avison Young’s Charlotte office represented Printful in the lease deal. Warren Snowden and David Hanna of Foundry Commercial represented the landlord.

October 7, 2016

Florida Loans Office Southeast

Alostar Provides $14.2M Loan for 225,000 SF Office Building in Jacksonville

by John Nelson October 7, 2016

JACKSONVILLE, FLA. — Alostar has provided a $14.2 million loan for the refinancing of a 225,000-square-foot office building in Jacksonville. Located at 8787 Baypine Road, the office building is home to the Florida Coast School of Law. Alostar provided the loan to AGNL FCSL LLC, an affiliate of AG Net Lease Realty Fund II.

October 7, 2016

Florida Multifamily Southeast Top Stories Washington Western

Avanath Capital Management Buys Workforce Housing in Florida, Seattle for $84.8M

by Jeff Shaw October 7, 2016

FORT LAUDERDALE, FLA. AND SEATTLE — Avanath Capital Management has acquired The Lodge at Peasley Canyon in Seattle and Harbour Pointe in Fort Lauderdale for a total of $84.8 million. Both properties are multifamily communities targeting middle-income families. The Lodge features 339 units while Harbour Pointe features 34 units. Oak Tree Residential was Avanath’s joint-venture partner on the Florida transaction. “Each of these assets presents an opportunity to leverage market growth while also preserving much-needed workforce housing in cities that have experienced some of the highest rent increases in the nation,” says John Williams, president and chief investment officer of Avanath. “Amidst this rent growth, there is a severe shortage of quality workforce housing that caters to middle-income families in major urban cores throughout the nation.” Built in 2004, The Lodge at Peasley Canyon’s amenities include a pool and spa, fitness center, modern kitchens with maple cabinetry and washers and dryers in most units. Avanath bought the property for $73.3 million and plans to enhance the clubhouse, lighting, kitchens and bathrooms. The seller was an institutional owner. Constructed in 1976 and renovated in 2006, Harbor Pointe is currently 100 percent occupied and features marble floors and boat slips. Avanath and …

October 7, 2016

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