Property Type

Riverside Developers to Open The William Vale Hotel in Brooklyn

by Amy Works April 28, 2016

NEW YORK CITY — Riverside Developers is constructing The William Vale, a 21-story boutique hotel in Brooklyn’s Williamsburg neighborhood. Slated to open in late June, the hotel will feature 183 rooms with floor-to-ceiling windows, complimentary WiFi, smart television systems and turndown service. Additional hotel features include a 60-foot pool and deck, rooftop lounge, 24-hour fitness center, a ballroom and meeting rooms, as well as food and beverage options led by NoHo Hospitality Group and Chef Andrew Carmellini. Albo Liberis designed the hotel, which is located on Wythe Avenue between 12th and 13th streets.

April 28, 2016

New York Northeast Office Retail

Avison Young Negotiates $21M Sale of Office/Retail Building in Manhattan

by Amy Works April 28, 2016

NEW YORK CITY — Avison Young has arranged the sale of an office and retail building located at 310 Lenox Ave. in Manhattan’s Central Harlem section. A group of New York-based real estate investors acquired the property for $21 million. Built in 1940 and improved in 2006, the three-story building consists of approximately 24,659 gross square feet of above-grade space and a full basement of approximately 8,493 square feet. Additionally, the property has approximately 9,313 square feet of additional zoning floor area that is expected to be accessed by the new ownership entity. The property’s best-known tenant is Red Rooster, a restaurant led by chef Marcus Samuelsson. Neil Helman, Charles Kingsley, Jon Epstein and Vincent Carrega of Avison Young represented the seller, National Basketball Players Association, in the transaction.

April 28, 2016

Delaware Industrial Northeast Office

NAI Emory Hill Brokers Sale of White Clay Corporate Center in Delaware

by Amy Works April 28, 2016

NEWARK, DEL. — The Emory Hill Companies has completed the second phase of the sale of White Clay Corporate Center, an office and industrial complex in Newark. Shelbourne Global Solutions LLC purchased four of the seven buildings at the complex in 2015, and recently purchased the remaining three buildings to complete the acquisition for an undisclosed sum. The campus totals 493,581 square feet. Neil Killian of NAI Emory Hill represented the undisclosed seller in the transaction. NAI Emory Hill manages the property.

April 28, 2016

New York Northeast Retail

Flexible Format Target Joins Shopping Center on Long Island

by Amy Works April 28, 2016

ELMONT, N.Y. — Target is opening a flexible format store as an anchor tenant at the Home Depot shopping center located at 600 Hempstead Turnpike in Elmont. The 24,500-square-foot store is slated to open late this fall or early spring 2017 in a space formerly occupied by OfficeMax. The new format stores vary in size and assortment, allowing for smaller footprints and locally relevant experiences for shoppers. Jeffrey Howard of Ripco Realty represented the tenant, while Randall Briskin provided in-house representation for the landlord, The Feil Organization.

April 28, 2016

Market Reports Midwest Midwest Market Reports Office Ohio

Dayton Office Market Continues Steady Recovery Amid Urban Renaissance

by Christina Cannon April 28, 2016

For the Dayton office market, it’s all about timing. In one of Miami Valley’s largest office leases in recent memory, CareSource early this year signed a five-year lease to occupy 50,000 square feet on two floors at the 486,000-square-foot Kettering Tower downtown. The nonprofit managed healthcare plan is the largest Medicaid plan in Ohio and the second largest in the United States. CareSource said it will assess current and future business needs and redistribute business units from corporate headquarters and offices at 40 W. Second St. to Kettering Tower. In addition, some staff hired during the first quarter of this year also will be placed at the new location. The CareSource location at Kettering Tower increases the company’s footprint to nearly 600,000 square feet in downtown Dayton. The four downtown Dayton locations — including CareSource’s corporate headquarters at 230 N. Main St., Ballpark Village at 220 E. Monument Ave., offices at 40 W. Second St. and Kettering Tower will support 2,200 staff. The $6 million build-out of the multi-tenant Kettering Tower is specifically designed to accommodate CareSource. Tower Partners LLC, an entity whose investors include New York businessman Albert Macanian, owns the building. But the deal bringing 300 new jobs …

April 28, 2016

Office Texas

KBS Signs NeuroCare to 8,373 SF Lease at Greenway I in Metro Dallas

by Haisten Willis April 27, 2016

RICHARDSON, TEXAS — KBS Strategic Opportunity REIT, a non-traded real estate investment trust based in Newport Beach, Calif., has signed an 8,373-square-foot lease with NeuroCare Outpatient Rehabilitation at the Greenway I office building in Richardson. Amenities at Greenway I include a renovated lobby, corridors and restrooms, on-campus security and fiber optics. The property is located two miles from The University of Texas at Dallas. NeuroCare Outpatient Rehabilitation is a division of NeuroCare Rehab Hospitals LLC. Laura Maczka and Mark Jordan of Sooner Management represented KBS Strategic Opportunity REIT in the transaction. Michael Collins of MedCore Partners represented NeuroCare Outpatient Rehabilitation.

April 27, 2016

Retail Texas

M&M Arranges Sale of 9,180 SF Net Leased Family Dollar in Houston

by Haisten Willis April 27, 2016

HOUSTON — Marcus & Millichap has arranged the sale of a 9,180-square-foot, net leased Family Dollar located in Houston. Gus Lagos and Nik Kapetanakis of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a partnership. The unnamed buyer utilized a 1031 tax-deferred exchange. Family Dollar is located at 8303 Calhoun Road.

April 27, 2016

Industrial Texas

Lee & Associates Negotiates 25,000 SF Industrial Lease in Metro Dallas

by Haisten Willis April 27, 2016

CARROLLTON, TEXAS — Lee & Associates has negotiated a lease transaction for a 25,000-square-foot industrial space located at 3400 Wiley Post Road in Carrollton. Nathan Denton of Lee & Associates’ Dallas/Fort Worth office represented the tenant, Dallas Auto Sales. Greg Cannon of Colliers International represented the landlord, Futerfas Family LP.

April 27, 2016

Office Texas

ECR Arranges Sale of Office Property in Austin

by Haisten Willis April 27, 2016

AUSTIN, TEXAS — Equitable Commercial Realty (ECR) has arranged the sale of an office property in Austin. 2512 Partners LLC purchased Summit Point, a 24,000-square-foot building located at 2512 S. I-35, for an undisclosed price. Jason Steinberg and Matt Levin with ECR represented the seller.

April 27, 2016

Multifamily Student Housing Texas

Threshold, Asset Campus Housing Earn Awards from Student Housing Business

by Haisten Willis April 27, 2016

AUSTIN, TEXAS — Austin-based Threshold Agency, along with Asset Campus Housing, Collegiate Development Group and Kayne Anderson, has won the 2016 Best Marketing and Lease-Up Program award from Student Housing Business, a publication covering the student housing industry. The award highlights the company’s work with TODD Student Living, which helped the community become one of the fastest lease-ups in the Columbia, Mo., market. In 2014, Houston-based Asset Campus Housing, along with Collegiate Development Group and Kayne Anderson Real Estate Advisors, hired Threshold to create a brand for their new development. The Threshold team proposed the TODD name after coming across the term “transit-oriented development,” or TOD, in their initial research. The term refers to mixed-use communities within walking distance of a transit station or key points of interest. As a result of the team’s efforts, TODD Student Living leased up in just two months, with a waiting list before many other properties in the market had even reached 50 percent.

April 27, 2016

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