Property Type

Dunkin’ Donuts Opens 12,000th Restaurant in Riverside

by Nellie Day September 20, 2016

RIVERSIDE, CALIF. — Dunkin’ Donuts has opened its 12,000th restaurant worldwide with its new location in Riverside. The new restaurant is part of the company’s westward expansion, opening more than 30 new restaurants in California with plans for about 300 new locations to be developed in the state over the coming years. Franchisee Parag Patel owns and operates the location. Patel opened two other Southern California Dunkin’ Donuts this summer in Villa Park and Yorba Linda. He plans to open approximately 20 new Riverside and Orange County locations in the coming years. Founded in 1950, Dunkin’ Donuts has more than 11,900 restaurants in 44 countries worldwide. Based in Canton, Mass., Dunkin’ Donuts is part of the Dunkin’ Brands Group Inc. family of companies.

September 20, 2016

arboretum-apartments-in-canton-massachusetts

Massachusetts Multifamily Northeast

JLL Completes Sale of Arboretum Apartments Near Boston

by Jaime Lackey September 20, 2016

CANTON, MASS. — JLL’s Capital Markets team has completed the sale of the Arboretum Apartments in Canton. Universal Realty Inc. purchased the 156-unit value-add multifamily asset, which is located off Route 138, 11 miles south of downtown Boston. The property comprises 12 buildings and a resident clubhouse, and offers amenities such as an on-site dog park, an outdoor basketball court, a fitness center, a grilling area, a pool and a playground. In-unit amenities include private balconies, washer/dryer, central air conditioning, walk-in closets and kitchens with breakfast bars. Travis D’Amato, Michael Coyne, Kevin Gleason and Brendan Shields led the JLL team on the deal, representing the seller and procuring the buyer.

September 20, 2016

Connecticut Industrial Northeast

Sentry and CBRE/NE Arrange Industrial Sale in Windsor, Connecticut

by Jaime Lackey September 20, 2016

WINDSOR, CONN. — Ezra Silva Lane LLC has purchased an industrial property at 60 Ezra Silva Lane in Windsor for $1.75 million. The 33,400-square-foot building at the property is currently occupied by Precision Finishing Services while All-Crate Inc. occupies the 30,000-square-foot rear building. Sentry Commercial represented the buyer and CB Richard Ellis/New England represented the seller, Clinton Street Associates, in this transaction.

September 20, 2016

Multifamily New Jersey Northeast

Redwood Realty Brokers Two Multifamily Sales in New Jersey

by Jaime Lackey September 20, 2016

WOODBRIDGE AND UNION CITY, N.J. — Redwood Realty Advisors has arranged the sales of two apartment properties in New Jersey. Jeremy Wernick assisted in the $2.55 million sale of a 22-unit garden apartment complex in Woodbridge. The sale closed at a 6.2 percent cap rate. Wernick also located a Florida investment property for the seller to purchase to complete a 1031 exchange. In Union City, Redwood’s Steven Matovski and Saul Ramirez brokered the sale of a 19-unit garden apartment complex for $1.15 million. The names of the buyers and sellers were not disclosed.

September 20, 2016

Industrial New York Northeast

Hutch Metro Campus in The Bronx Adds 40,000 SF Self-Storage Facility

by Jaime Lackey September 20, 2016

NEW YORK CITY — Simone Development Companies has added a 40,000-square-foot self-storage facility to its Hutchinson Metro Center in the Pelham Bay section of the Bronx. CubeSmart is managing the climate-controlled facility. The new facility at 1260 Waters Place offers a variety of storage unit sizes in a well-lit site with 24-hour video surveillance. Amenities include hand-carts and dollies, availability of packing supplies and boxes, and printing/copy/fax services. The facility also offers a complimentary truck and driver through A Super Move. Delivery services directly to storage units are available. The facility has bi-lingual managers, and offers insurance services and discounts for military personnel.

September 20, 2016

Indiana Midwest Multifamily Student Housing

Alex. Brown Realty JV Acquires Student Housing Project in Bloomington, Indiana

by Haisten Willis September 20, 2016

BLOOMINGTON, IND. — Alex. Brown Realty Inc. (ABR) and Asset Campus Housing have acquired The Fields, a student housing project near the main campus of Indiana University in Bloomington. ABR Chesapeake Fund V, a value-add real estate fund sponsored by ABR, invested $11.7 million in the joint venture. The acquisition was financed with a first mortgage loan from Texas Capital Bank N.A. Built as a conventional apartment community between 1997 and 2001, the property was recently converted to a 537-bed student housing community by the prior owner and includes two pools, two 24-hour fitness centers, a business and media center, a 10-acre park and a clubhouse. At closing, The Fields was 98 percent leased for the 2016-2017 school year. The joint venture plans to complete $3.4 million of value-add improvements to cure deferred maintenance, upgrade select unit interiors and refresh the property’s curb appeal.

September 20, 2016

1000-east-woodfield-road-schaumburg-illinois

Illinois Midwest Office

Entre Arranges Sale of 204,345 SF Office Building in Schaumburg, Ill.

by Haisten Willis September 20, 2016

SCHAUMBURG, ILL. — Brian Bocci of Entre Commercial Realty LLC represented Vinayaka Holdings Corp. in the purchase of a 204,345-square-foot office building located at 1000 E. Woodfield Road in Schaumburg. Entre Commercial Realty has also been retained to market the refurbished building for lease. The building’s lobby was recently renovated and the exterior was painted. The parking lot will be refurbished and new landscaping will be installed as well. The property is within walking distance to Woodfield Mall. Steve Kling, Jason Simon and Tom Gorman of Colliers International worked on behalf of the unnamed seller.

September 20, 2016

Illinois Midwest Office

Morgan/Harbour Completes Office Renovation for Cour Pharma in Northbrook

by Haisten Willis September 20, 2016

NORTHBROOK, ILL. — Morgan/Harbour Construction has completed an office renovation for Cour Pharma Development Co. Inc. at 2215 Sanders Road in Northbrook. Founded in 2012, Cour Pharma is a nanobiotechnology company that focuses on the development of novel immune therapies. Morgan/Harbour was hired to complete a 4,400-square-foot build-out for Cour Pharma’s space within CVS Health Towers. The interior build-out consisted of the addition of two glass conference rooms and an open office layout for the break area. Morgan/Harbour’s construction team included Joe Zosky as project executive and Erick Hodorowicz as project manager and superintendent. JDJ Architects provided the architectural services for the design.

September 20, 2016

Illinois Midwest Multifamily

CBRE Negotiates Sale of 144-Unit Multifamily Property for $42M in Des Plaines, Ill.

by Haisten Willis September 20, 2016

DES PLAINES, ILL. — CBRE represented the owners of Kingston Pointe in the $42 million sale of a 144-unit multifamily property located at 1646 River St. in Des Plaines. San Francisco-based Friedkin Realty Group was the buyer. Kingston Pointe, located in downtown Des Plaines, includes one-, two- and three-bedroom units featuring floor-to-ceiling windows, stainless steel appliances, granite countertops and in-unit washer/dryers. Amenities include a fitness center, swimming pool, on-site management and heated garage parking. John Jaeger and Dan Cohen of CBRE represented ownership in the sale.

September 20, 2016

Michigan Midwest Retail

Reichle Klein Group Brokers $3.95M Sale of Retail Building in Adrian, Mich.

by Haisten Willis September 20, 2016

ADRIAN, MICH. — Reichle Klein Group has brokered the $3.95 million sale of a multi-tenant retail building in Adrian. Reichle Klein Group’s Duke Wheeler represented the seller, Blitz Hutton One LLC. The 13,000-square-foot retail center, which is 100 percent occupied, is located at 1515 E. U.S. Route 223. Wheeler has been involved with the leasing of this asset since 2008.

September 20, 2016

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