Property Type

CBRE Brokers $26.5M Sale of Two-Property Shopping Center Portfolio in Pennsylvania

by Amy Works May 10, 2016

POTTSTOWN AND READING, PA. — CBRE Group Inc. has arranged the sale of North End Shopping Center in Pottstown and Madeira Plaza in Reading. Medipower Overseas Co. acquired the two-property shopping center portfolio from SIN Ventures for $26.5 million. At the time of closing, the 103,905-square-foot North End Shopping Center was 94 percent occupied by Redner’s Warehouse Market, CVS/pharmacy, Dollar General and PA Wine & Spirits. The 164,917-square-foot Madeira Plaza was fully occupied at the time of sale by Redner’s Warehouse Market, Big Lots, OfficeMax, Rite Aid and Dollar General. Brad Nathanson of CBRE represented the seller and identified the buyer in the transaction.

May 10, 2016

Northeast Office Pennsylvania

City Center Investment Corp. to Develop 145,000 SF Office Building in Allentown

by Amy Works May 10, 2016

ALLENTOWN, PA. — City Center Investment Corp. is developing a 12-story Class A office building at Sixth and Hamilton streets at City Center Lehigh Valley in downtown Allentown. Named Tower 6, the 145,000-square-foot building is slated to open in early 2018. Constructed of glass and steel, the tower will feature upscale retail space on the first floor and 360-degree views from floors six through 12. City Center Lehigh Valley, a mixed-use development transforming downtown Allentown, is currently home to three Class A office buildings offering cutting-edge, efficient environmental control systems, customized access-control systems and a professional property management team.

May 10, 2016

New Jersey Northeast Office

American Equity Partners Acquires 104,854 SF Office Building in New Jersey

by Amy Works May 10, 2016

MONTVALE, N.J. — American Equity Partners has acquired an office building located at 50 Chestnut Ridge Road in Montvale for an undisclosed price. Based upon a pending deed-in-lieu of foreclosure in July 2014, NAI James E. Hanson took over the leasing and property management of the 104,854-square-foot building. Situated on 11.1 acres, the property was renovated in 2005 and features 465 parking spaces. Andrew Somple and Greg James of NAI Hanson represented the undisclosed seller in the transaction.

May 10, 2016

New York Northeast Office

EmblemHealth Leases Build-to-Suit Office Building in Brooklyn

by Amy Works May 10, 2016

NEW YORK CITY — EmblemHealth has signed a 20-year lease for a build-to-suit office building at 101 Pennsylvania Ave. in the East New York section of Brooklyn. Atlantic 2644 LLC, the building owner, broke ground on the project for the nonprofit health plan in January. When completed in third quarter 2017, the new building will feature 75,000 square feet of medical office space and 90,000 square feet of structured parking. Designed by Array Architects, the seven-story building will feature a lobby and ambulatory care treatment facilities on the ground floor, parking for 153 cars on the second through fourth floors and medical office space on the fifth through seventh floors.

May 10, 2016

New Jersey Northeast Retail

Margules Properties Acquires 9,500 SF Retail Building in Jersey City for $1.5M

by Amy Works May 10, 2016

JERSEY CITY, N.J. — Margules Properties has acquired a retail building located at 2800 John F. Kennedy Blvd. in Jersey City. The 9,500-square-foot asset sold for $1.5 million. Situated in the Journal Square neighborhood, the two-story building was owned by The Empire Education Group and operated as a cosmetology school. Gardner Rivera, an independent real estate broker in New Jersey, represented the buyer and seller in the deal.

May 10, 2016

Hospitality Midwest Wisconsin

DoubleTree by Hilton Reopens 112-Room Hotel in Wisconsin After $21M Renovation

by Christina Cannon May 10, 2016

EAU CLAIRE, WIS. — DoubleTree by Hilton has reopened a 112-room hotel in Eau Claire after a $21 million rebuild. Pablo Properties owns The Lismore Hotel Eau Claire, and Interstate Hotels & Resorts manages the property. The eight-story hotel’s design and name is inspired by the city of Lismore, Australia. Amenities at the property include a 24-hour fitness facility, 24-hour business center, full-service restaurant, coffee shop, bar and 14,000 square feet of meeting space, which includes a 7,200-square-foot ballroom that can accommodate 620 guests. Plans also include the addition of an indoor pool. Guest rooms feature skyline and river views, 42-inch high-definition televisions, mini-refrigerators, coffeemakers and complimentary Wi-Fi. The Lismore Hotel Eau Claire – a DoubleTree by Hilton is located at 333 Gibson St.

May 10, 2016

Illinois Midwest Multifamily Seniors Housing

Caddis to Develop 94-Unit Senior Living Facility in Chicago Suburb

by Christina Cannon May 10, 2016

ORLAND PARK, ILL. — Caddis has unveiled plans for a new senior living facility in Orland Park, approximately 25 miles southwest of Chicago. Heartis Village Orland Park, located at 159th Street and Harlem Avenue, will be a 94-unit, 89,950-square-foot assisted living facility. Caddis began developing its first Illinois facility last year in Peoria, and the project is expected to open this fall. Both properties will be owned by Caddis and managed by Pathway Senior Living LLC. Heartis Village Orland Park will feature a salon and spa with a therapeutic tub, two interior courtyards, a large dining room, a private dining room, chef-prepared meals, daily activities, an arts and crafts room, media room, licensed nursing services, 24-hour emergency call system, housekeeping and laundry services and personal transportation. Austin, Texas-based Katus LLC is the architect, and Rosemont, Ill.-based McShane Construction Company LLC is the general contractor. The project is slated for delivery next fall.

May 10, 2016

Illinois Industrial Midwest

Principle Construction Breaks Ground on 348,000 SF Industrial Expansion in Illinois for Winpak

by Christina Cannon May 10, 2016

SAUK VILLAGE, ILL. — Principle Construction Corp. has broken ground on a 348,000-square-foot industrial expansion in Sauk Village, approximately 30 miles south of Chicago. Winpak Portion Packaging Inc. occupies the existing 267,000-square-foot building and will occupy the new space as well. The expansion will include a 197,000-square-foot warehouse, 137,950-square-foot production area, an amenity area, maintenance storage, break room, washrooms, mechanical utility room, trucker’s room, shipping office and a plant grinding room. The facility, located at 1111 Winpak Way, will add a second rail spur, 12 storage silos, two new 4000 amp electrical services, 150 parking stalls, 25 trailer stalls, 20 truck dock loading doors and an exterior drive-in door. Winpak Portion Packaging is a manufacturer and distributer of packaging materials. In addition to constructing the expansion, Principle will also work on several upgrades to the older facility. Harris Architects will provide architectural services.

May 10, 2016

Illinois Industrial Midwest

CBRE Arranges 213,141 SF Industrial Lease in Northwest Chicago Suburb

by Christina Cannon May 10, 2016

GURNEE, ILL. — CBRE has arranged a 213,141-square-foot industrial lease in Gurnee, approximately 40 miles northwest of Chicago. Handi-Foil Corp. will occupy the space at 5650 CenterPoint Court. The facility, situated on 10.3 acres, features 9,809 square feet of office space, 12 interior docks, 65 parking spaces and has capacity for a full drive-thru at each end of the site. Ryan Bain and Zach Graham of CBRE represented the landlord, Centerpoint Properties, in the transaction. Keith Puritz and Brett Kroner of Avison Young represented the tenant.

May 10, 2016

Industrial Midwest Wisconsin

The Dickman Company Brokers Sale of 41,350 SF Industrial Building in Milwaukee

by Christina Cannon May 10, 2016

MILWAUKEE — The Dickman Company Inc./CORFAC International has brokered the sale of a 41,350-square-foot industrial building in Milwaukee for an undisclosed price. DDE Enterprises LLC purchased the building, located at 5501 and 5407 W. Mill Road, from INX International Ink Co. Nick Keys of The Dickman Company represented the buyer in the transaction, and Tony Haning of JLL represented the seller.

May 10, 2016

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