Property Type

KBS REIT Signs 15,600 SF in Office Leases in Metro Dallas

by Haisten Willis February 17, 2016

RICHARDSON, TEXAS — KBS Strategic Opportunity REIT, a non-traded real estate investment trust based in Newport Beach, Calif., has signed three leasing deals at its Richardson Office Portfolio totaling 15,688 square feet. Shea & McMurdie Financial and Stuart Gurnea are new tenants occupying the properties, and Treliant Risk Advisors is an existing tenant that recently renewed its lease. Shea & McMurdie Financial, a consultancy offering tax planning and other financial services, signed a 3,082-square-foot lease. Stuart Gurnea, an insurance agent, signed a 1,026-square-foot lease, and Treliant Risk Advisors, a compliance, risk management and strategic advisory firm for the financial services industry, has renewed its 11,580-square-foot lease. The Richardson Office Portfolio is a four-building office campus located on 43 acres near the intersection of US-75 Central Expressway and President George Bush Turnpike. Mark Jordan and Laura Maczka of Sooner National Property Management LP represented KBS Strategic Opportunity REIT in the lease transactions.

February 17, 2016

Boxer Property Arranges 19,384 SF Office Lease in Houston

by Haisten Willis February 17, 2016

HOUSTON — Boxer Property has arranged the lease of 19,384 square feet of office space to HRSS LLP, a full service accounting firm, at 6671 Southwest Freeway in Houston. Travis Taylor and Chris Nash of Lee & Associates represented HRSS LLP in the lease transaction. Trey Miller and Jessica Barrera of Boxer Property negotiated the lease on behalf of the landlord, a third-party vendor. Located in Southwest Houston, 6671 Southwest Freeway has full floor suites, as well as private offices available for rent. The building contains granite floors and offers four levels of parking. Boxer Property provides on-site security and management.

February 17, 2016

Office Texas

Lee & Associates Negotiates Sale of Office Property in Houston

by Haisten Willis February 17, 2016

HOUSTON — Ortega Medical Building LLC has purchased a 9,600-square-foot office facility at 1606 Romano Park Lane W. in Houston. Robert Noack of Lee & Associates’ Houston office represented the seller, District & Urban Inc., in the transaction. Erica Lara of Realty Associates represented the buyer.

February 17, 2016

Georgia Industrial Southeast

Hillwood Acquires 2.2M SF Industrial Park in Metro Atlanta

by John Nelson February 17, 2016

LAWRENCEVILLE, GA. — Hillwood, a Perot company, has purchased Gwinnett 316, a 15-building distribution park totaling 2.2 million square feet, for an undisclosed price. The park is situated one mile off GA Highway 316 in Lawrenceville within Atlanta’s I-85 Northeast submarket. The acquisition consists of rear- and front-loading distribution buildings ranging from 70,000 to 200,000 square feet. The buildings have an average construction date of 1992 with an average 24-foot clear height, ESFR sprinkler systems, T-5 lighting, ample parking and some office space. Hillwood has begun major capital improvements that include enhanced landscaping, parking lot and roof refurbishments and upgrades to vacant space. Hillwood recently opened an office in Atlanta, with Todd Parker leading the division as senior vice president.

February 17, 2016

Georgia Mixed-Use Southeast

Hotel Development Partners Breaks Ground on Residence Inn in Atlanta’s Central Perimeter

by John Nelson February 17, 2016

ATLANTA — Hotel Development Partners has commenced construction on a new 128-room Residence Inn on a 4.8-acre site located at the intersection of Ashford Dunwoody and Meadow Lane roads in Atlanta’s Central Perimeter submarket. The site surrounds the existing Spruill Center for the Arts and will feature the hotel, Fogo de Chao Brazilian Steakhouse and other dining and shopping amenities in early 2017. Alan Shaw of The Shopping Center Group is leasing the site on behalf of Hotel Development Partners, which purchased the site in 2015. The developer is also underway on a Hampton Inn-anchored mixed-use project on Ashford Dunwoody Road.

February 17, 2016

Kerner Ridge Assisted Living Kernersville

North Carolina Seniors Housing Southeast West Virginia

KeyBank Provides $47.7M in Financing for Assisted Living Portfolio in Southeast

by John Nelson February 17, 2016

CLEVELAND — KeyBank Real Estate Capital has arranged a total of $47.7 million of permanent financing for six assisted living communities managed by Ridge Care Inc. The financing included a $38.5 million, 35-year, fixed-rate loan through the FHA 232/223(f) mortgage insurance program and a $9.2 million Fannie Mae loan. John Randolph and Charlie Shoop of Key’s Healthcare Mortgage Group arranged the financing, which provides Ridge Care with cash flow flexibility and excess proceeds to make capital improvements within their portfolio and continue the development of additional assisted living communities. The six recently refinanced properties comprise 319 units and include The Havens at Princeton in Princeton, W.Va.; Walnut Ridge Assisted Living in Walnut Cove, N.C.; Kerner Ridge Assisted Living in Kernersville, N.C.; Forest Ridge Assisted Living in West Jefferson, N.C.; Mallard Ridge Assisted Living in Clemmons, N.C.; and Arbor Ridge at Stanleyville in Stanleyville, N.C.

February 17, 2016

Multifamily South Carolina Southeast

Kettler, Stillman Group Acquire North Charleston Apartment Community for $22.5M

by John Nelson February 17, 2016

NORTH CHARLESTON, S.C. — Kettler and The Stillman Group have purchased Jamison Park in North Charleston from Middle Street Partners for $22.5 million. The apartment complex is located near the Joint Force Air Force Base, the Charleston International Airport and The Boeing Co. Phil Brosseau and Kevin Kempf of CBRE represented the buyers in the transaction. The acquisition increases the number of apartment units that Kettler manages to roughly 33,000.

February 17, 2016

Georgia Multifamily Southeast

RADCO Purchases Apartment Community in Georgia for $9.9M

by John Nelson February 17, 2016

NEWNAN, GA. — The RADCO Cos. has purchased the 114-unit Park Manor Apartments in Newnan from LivCor for $9.9 million. The Atlanta-based apartment investor has renamed the apartment complex Woodlands at White Oak, which is located adjacent to another RADCO property, the 561-unit Creekside at White Oak. RADCO financed the acquisition using private capital and debt financing from Mutual of Omaha. HFF’s Atlanta office brokered the transaction. RADCO plans to invest more than $1.3 million on capital improvements for the property’s clubhouse, fitness center, pools, landscaping and building exteriors. Interior renovations will include upgraded flooring, lighting, countertops and appliances.

February 17, 2016

Cooks-Corner-Shopping-Center-Brunswick-ME

Maine Northeast Retail

Katz Properties Acquires 302,000 SF Shopping Center in Maine for $13.2M

by Amy Works February 17, 2016

BRUNSWICK, MAINE — Katz Properties has acquired Cook’s Corner Shopping Center, a 302,000-square-foot shopping center in Brunswick, for $13.2 million. Situated on 32.5 acres, the property is occupied by a diverse tenant mix including Sears, Regal Cinema, Big Lots, TJ Maxx, Staples, Dollar Tree, Applebee’s, Dunkin’ Donuts and Five Guys Burgers & Fries. At the time of sale, the property was 84 percent occupied. Acquisition financing was provided by Blue Hills Bank of Massachusetts and arranged by Tim Breda and Peter Kenn of Goedecke & Co. Geoffrey Millerd and Justin Smith of Newmark Grubb Knight Frank represented the undisclosed seller in the transaction.

February 17, 2016

Multifamily New York Northeast

Cushman & Wakefield Arranges $25.5M Sale of Residential Condo Portion of Manhattan Mixed-Use Property

by Amy Works February 17, 2016

NEW YORK CITY — Cushman & Wakefield has brokered the sale of the residential condominium portion of 92 Pinehurst Ave. in Manhattan’s Hudson Heights neighborhood. Pinehurst Partners LP sold the residential portion of the property for $25.5 million, or $350 per square foot. The residential portion of the elevator-serviced, 72-unit building contains 72,896 square feet above grade of which the usable residential area is approximately 60,000 square feet. James Nelson and Mitchell Levine of Cushman & Wakefield handled the transaction.

February 17, 2016

Newer Posts

Older Posts