Property Type

tallgrass-corporate-center-bolingbrook-il

Equus Capital Partners Completes $67.3M Sale of Tallgrass Corporate Center in Bolingbrook, Illinois

by Amy Works October 6, 2016

BOLINGBROOK, ILL. — Equus Capital Partners has completed the disposition of Tallgrass Corporate Center, an office center located at 1000 Remington in Bolingbrook. Middletown Partners acquired the property for $67.3 million. At the time of sale, the 533,365-square-foot Class A office center was 100 percent leased to a variety of tenants, including ULTA Beauty, Presence Health, Quad Graphics and AMITA Health. The office center features a full-service cafeteria, fitness center with locker rooms and showers, and state-of-the-art auditorium and conferencing capabilities. James Postweiler and Peter Harwood of JLL represented the seller in the transaction.

October 6, 2016

Midwest Ohio Retail

Marcus & Millichap Brokers $7.8M Sale of 57,692 SF Retail Property in Cincinnati

by Amy Works October 6, 2016

CINCINNATI — Marcus & Millichap has arranged the sale of a retail property located at 6401 Colerian Ave. in Cincinnati. A local REIT sold the property to an out-of-state REIT for $7.8 million. The 57,692-square-foot property is triple net leased to Kroger through 2020. Craig Fuller, Scott Wiles and Erin Patton of Marcus & Millichap represented the seller and buyer in the deal.

October 6, 2016

Midwest Retail Wisconsin

Friedman Facilitates Sale of 47,000 SF Shopping Center in Oshkosh, Wisconsin

by Amy Works October 6, 2016

OSHKOSH, WIS. — Friedman Integrated Real Estate Solutions has arranged the sale of Oshkosh Center, a shopping center located at 1935-1989 S. Koeller St. in Oshkosh. Alpha Opportunity Fund I sold the property to 1935 South Koeller Street at auction through Ten-X.com for an undisclosed price. The 47,000-square-foot property is occupied by Petco and Dalton Carpet Outlet. Rich Deptula and Victor Lewis of Friedman represented the seller and buyer in the transaction.

October 6, 2016

Illinois Loans Midwest Multifamily

American Street Capital Arranges $3.8M in Financing for Multifamily Property in Hazel Crest, Illinois

by Amy Works October 6, 2016

HAZEL CREST, ILL. — American Street Capital has arranged $3.8 million in financing for Homewood Court, a multifamily property located in Hazel Crest, a southwest suburb of Chicago. The loan features a 20-year term and was funded through the Freddie Mac Small Balance Program. Built in 1988, the 90-unit property consists of 15 buildings and offers a mix of one- and two-bedroom units. Igor Zhizhin of American Street Capital originated the loan for the undisclosed borrower.

October 6, 2016

Illinois Midwest Office

Cushman & Wakefield to Consolidate Chicago Operations at 225 West Wacker

by Amy Works October 6, 2016

CHICAGO — Cushman & Wakefield is consolidating its corporate headquarters and Chicago operations at 225 W. Wacker Drive in Chicago’s West Loop submarket. The firm plans to occupy 83,033 square feet of office space at 225 W. Wacker Drive in the second quarter of 2017. Dan Maslauksi, Michael Sessa and Scott Shelbourne provided in-house representation for Cushman & Wakefield, while Brian Atkinson and Mark Anderson of Hines represented the landlord, Mirae Asset Global Investments.

October 6, 2016

Northeast Office Pennsylvania

Workspace Property Trust Closes on $969M Acquisition of 108-Building Office/Flex Portfolio

by Amy Works October 6, 2016

HORSHAM, PA. — Horsham-based Workspace Property Trust has completed the its previously announced acquisition of 108 office and flex buildings, along with 26.7 acres of land, in five markets. Liberty Property Trust sold the portfolio for $969 million. The acquisition was made in partnership with Safanad, a global principal investment firm, and affiliates of Square Mile Capital Management, a diversified real estate investment firm. The portfolio includes 14 buildings and 18.1 acres in Arizona, 45 buildings and 8.6 acres in Florida, 19 properties in Minnesota and 30 facilities in Pennsylvania. FTI Consulting, Eastdil Secured and JMP Securities served as advisors to Workspace Property Trust, while J.P. Morgan Securities served as advisor to Liberty in the transaction.

October 6, 2016

Connecticut Loans Multifamily Northeast

Capital One Closes $32.5M Loan for Apartment Building in New Haven, Connecticut

by Amy Works October 6, 2016

NEW HAVEN, CONN. — Capital One has provided a $32.5 million fixed-rate loan under Fannie Mae’s near-stabilization program to Cooper Church LLC. The borrower used the funds to refinance The Union, a 137-unit apartment building in New Haven. Paul Kesicki of Capital One’s Commercial Real Estate Group originated the transaction. The 10-year loan has three years of interest-only payments followed by amortization on a 30-year schedule and 9.5 years of yield maintenance.

October 6, 2016

Mixed-Use Multifamily New York Northeast Office Retail

IPA Facilitates $29.3M Sale of Mixed-Use Property in Queens

by Amy Works October 6, 2016

NEW YORK CITY — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of The Roosevelt, a mixed-use property located at 40-07 73rd St. in the Jackson Heights neighborhood of Queens. An undisclosed buyer acquired the property for $29.3 million. The building features 31 residential units, 10 commercial tax lots and a parking garage. Peter Von Der Ahe and Joe Koicim of IPA, along with Shaun Riney and Michael Salvatico of Marcus & Millichap, represented the undisclosed seller and procured the buyer in the deal.

October 6, 2016

Massachusetts Northeast Office

Transwestern Brokers $14M Sale of Three-Building Office Portfolio in Waltham, Massachusetts

by Amy Works October 6, 2016

WALTHAM, MASS. — Transwestern has arranged the sale of a three-building portfolio totaling 65,200 square feet of office, laboratory and research and development space in Waltham. Taurus Investment Holdings sold the portfolio to a joint venture between Parsada Ventures and KHS Management for $14 million. The buildings are located at 150 and 335 Bear Hill Road and 300 Second Ave. within the Bear Hill Business Park. Chris Skeffington and Roy Sandeman of Transwestern represented the seller and sourced the buyer in the transaction.

October 6, 2016

Mixed-Use New York Northeast Office Retail

TerraCRG Arranges $5.1M Sale of Conversion Site in Brooklyn

by Amy Works October 6, 2016

NEW YORK CITY — TerraCRG has arranged the sale of a former daycare facility, located at 1057 Fulton St. in the Clinton Hill neighborhood of Brooklyn. An undisclosed buyer acquired the building for $5.1 million, or $493 per square foot. The buyer plans to convert the 10,337-square-foot property, which was vacant at the time of sale, into a mixed-use building. Ofer Cohen, Dan Marks and David Algarin of TerraCRG were the sole brokers in the transaction.

October 6, 2016

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