Property Type

Progress Capital Advisors Arranges $16.2M Bridge Loan for Retail Property in Pennsylvania

by Amy Works August 17, 2016

NATRONA HEIGHTS, PA. — Progress Capital Advisors has secured a $16.2 million 24-month bridge loan for Harrison Town Square, a retail center located in Natrona Heights formerly known as Heights Plaza. The borrower, Steve Kogut, plans to use the loan to retire current CMBS debt and rebrand the center into a retail/medical destination. Current tenants at the center include a physical rehabilitation center, Planet Fitness, urgent care facilities for University of Pittsburgh Medical Center (UPMC) and Allegheny Health Network, as well as multi-specialty physician practices. Kathy Anderson of Progress Capital arranged the loan for the borrower.

August 17, 2016

Delaware Industrial Northeast

Penguin Industries Sells 151,000 SF Warehouse Facility in Delaware

by Amy Works August 17, 2016

NEWARK, DEL. — Penguin Industries has completed the sale of a 151,000-square-foot warehouse building located at 701 Pencader within Pencader Industrial Park in Newark. Situated on 8.65 acres, the building has 24-foot clear heights and an ESFR sprinkler system. Wye Realty Advisors arranged the purchase of the property on behalf of the buyer, a Delaware-based private investor, for undisclosed price. AVIR Realty assisted the seller in the deal. Whitewoods Capital Advisors, along with Wye Realty Advisors, originated an acquisition loan for the buyer. At the time of sale, the building was fully leased to two tenants.

August 17, 2016

Hospitality Loans New York Northeast

Q10|New York Realty Advisors Secures $7.5M Loan for Best Western Hotel in New York

by Amy Works August 17, 2016

ROCKVILLE CENTRE, N.Y. — Q10|New York Realty Advisors has arranged a $7.5 million permanent loan for Best Western Mill River Manor, located at 173 Sunrise Highway in Rockville Centre. The 10-year non-recourse loan features a 4 percent interest rate for the first five years. The full-service hotel features a banquet facility, on-site parking and a swimming pool. Jeanne Cronin and Zeev Douek of Q10 secured the financing for the undisclosed borrower.

August 17, 2016

Restaurant Retail Texas

MOD Pizza to Open 11 New Locations in Houston

by Haisten Willis August 17, 2016

HOUSTON — Transwestern has represented MOD Pizza in 11 new leases in Houston, bringing the restaurant chain to 15 open and planned Houston locations. Transwestern’s Grant Walker and Chris Reyes, who serve as exclusive advisors for MOD Pizza in the Houston market, represented the chain in the transactions. MOD is operating nearly 150 stores across the United States and the United Kingdom and plans to open 50 more stores by the end of 2016, including five UK locations. MOD Pizza’s most recently opened Houston locations include: Riverpark Shopping Center(3,175 square feet) at 19820 Southwest Freeway in Sugar Land; The Market at Crenshaw (2,600 square feet) at 4541 E. Sam Houston Parkway S. in Pasadena; Meadows Marketplace(2,600 square feet) at 6825 S. Fry Road in Katy; The Boardwalk at Towne Lake(2,443 square feet) at 9925 Barker Cypress Road in Cypress; and Kroger Conroe Shopping Center(2,400 square feet) at 1240 N. Loop 336 W. in Conroe.

August 17, 2016

Loans Multifamily Texas

JLL Secures Acquisition Loan for Apartment Complex in Arlington

by Haisten Willis August 17, 2016

ARLINGTON, TEXAS — On behalf of S2 Capital, JLL Capital Markets has secured financing for the acquisition and rehabilitation of River Oaks apartments, a 188-unit value-add asset located in Arlington. Green Bank N.A. provided the loan. Mark Brandenburg led the JLL team in the transaction. River Oaks is located near the Texas Rangers’ Globe Life Park, Dallas Cowboys’ AT&T Stadium, Six Flags Over Texas and the Riverside Golf Course. Community amenities include a barbecue and picnic area, fitness center and a swimming pool. JLL Capital Markets is a provider of capital solutions for real estate investors and occupiers.

August 17, 2016

Healthcare Texas

M&M Arranges Sale of 100-Room Ramada Hotel in Plano

by Haisten Willis August 17, 2016

PLANO — Marcus & Millichap has arranged the sale of Ramada Limited Plano, a 100-room hotel located in Plano. Chris Gomes and Joseph Jaques of Marcus & Millichap’s Dallas office, along with Allan Miller of the firm’s San Antonio office, marketed the property on behalf of the seller, a limited liability company. Gomes and Miller procured the buyer, a private investor. Ramada Limited Plano is located at 621 Central Parkway E., near Park Boulevard. Built in 1987, the limited service, interior corridor hotel is situated on 1.8 acres. The property features an outdoor swimming pool, business center, breakfast area and meeting space.

August 17, 2016

Retail Texas

Vitorino Group Brokers Sale of Hillsboro Shopping Center

by Haisten Willis August 17, 2016

HILLSBORO, TEXAS — The Vitorino Group has brokered the sale of Hillsboro Shopping Center, a 15,750-square-foot, multi-tenant retail property built in 2007. Bryce Gissler, Michael Austry and James Mangum of the Vitorino Group negotiated the transaction between a Dallas-based real estate investment firm and a local private investor.

August 17, 2016

Industrial Texas

Colliers Negotiates Two Leases at Brookhollow West Business Park in Houston

by Haisten Willis August 17, 2016

HOUSTON — Colliers International has negotiated two office/warehouse leases at 9777 W. Gulf Bank Road in Houston. Donald Fincher of TruCore Commercial represented Armadillo Photo Supply Inc., which leased 9,746 square feet. Stephen Kuper and Preston Yaggi of Lee & Associates represented Helios Digital Packaging Inc., which leased 16,081 square feet. Walter Menuet and Judd Harrison of Colliers International represented the landlord in the transaction.

August 17, 2016

Arizona Multifamily Western

Passco Buys Almeria at Ocotillo Multifamily Community in Chandler for $80M

by Nellie Day August 17, 2016

CHANDLER, ARIZ. — Passco Cos. has acquired the 389-unit Almeria at Ocotillo apartment community in Chandler for $80 million. The community is located at 2470 and 2471 W. Edgewater Way within the Ocotillo master-planned community. Almeria is walking distance to three of the largest employers in an area known as Silicon Desert. These include Intel, Orbital ATK and Wells Fargo, which is planning to expand within the area. The bank will soon occupy an additional two 13-story office towers that may eventually bring more than 13,000 employees to the area. CBRE’S Sean Cunningham represented both Passco and the seller, PB Bell, in this transaction.

August 17, 2016

Multifamily Utah Western

Sage Gate at Haynes Landing Apartments Near Salt Lake City Sell for $52.6M

by Nellie Day August 17, 2016

WEST VALLEY CITY, UTAH — An unnamed buyer has acquired the 278-unit Sage Gate at Haynes Landing multifamily community for $52.6 million. The community is located at 2700 S. Anna Caroline Drive, about 11 miles from Salt Lake City. Sage Gate was built in 2014. Nearby employers include Discover Financial, UPS and Verizon Wireless. Daniel Shin and Brock Zylstra of Marcus & Millichap represented both the buyer and seller in this transaction.

August 17, 2016

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