Property Type

Lincoln Property Co. Inks Lease with Anchor Tenant FAIRWINDS Credit Union in Orlando

by John Nelson July 6, 2016

ORLANDO, FLA. — Lincoln Property Co. has signed FAIRWINDS Credit Union to a 40,000-square-foot anchor lease at Tremont Plaza in downtown Orlando. Currently under construction, the 28-story tower will be situated at the corner of Garland Avenue and South Street and feature retail, restaurant and banking space in the lobby. The project will also feature a 10-level parking deck, seven levels of office space and an eight-story, 180-room AC Hotel by Marriott. Tremont Plaza will also include a new Sunrail platform for Church Street Station inside the building. The station will offer future access to Orlando International Airport and connectivity to Miami via All-Aboard Florida’s high-speed train. FAIRWINDS is an Orlando-based financial institution with $2 billion in assets. Nan McCormick of CBRE represented FAIRWINDS in the lease transaction.

July 6, 2016

Connecticut Industrial Northeast

CBRE Negotiates $12.5M Sale of Industrial Facility in Connecticut

by Amy Works July 6, 2016

ENFIELD, CONN. — CBRE has arranged the sale of an industrial facility located at 25 Bacon Road in Enfield. WE 25 Bacon Road LLC acquired the 1 million-square-foot facility for $12.5 million. Situated on 348 acres, the property was formerly a Hallmark distribution center. Christopher Metcalfe and John Reed of CBRE represented the undisclosed seller in the transaction. An earlier version of this story incorrectly reported that Sentry Commercial brokered the transaction.

July 6, 2016

Loans Midwest Minnesota Multifamily

New York Life Arranges $33.4M Loan for 290-Unit Multifamily Complex Near Minneapolis

by Christina Cannon July 6, 2016

SHAKOPEE, MINN. — New York Life Real Estate Investors has arranged a $33.4 million acquisition loan for a 290-unit apartment property in Shakopee, approximately 25 miles southwest of Minneapolis. A joint venture between White Oak Partners and affiliates of The Hartford is the borrower. The Addison Apartments is a Class A property that features amenities such as a swimming pool, fitness center, business center, clubhouse, courtyard, dog park, walking trails and cyber café with coffee bar. Apartment amenities include in-unit washers and dryers, walk-in closets, kitchen appliances and patios or balconies. The property, built in 2005, offers one-, two- and three-bedroom units. Buildings at The Addison Apartments are three stories. The fixed-rate loan features a six-year term.

July 6, 2016

Michigan Midwest Office

Oxford Cos. Buys 80,755 SF Office Property in Ann Arbor for $9.7M

by Christina Cannon July 6, 2016

ANN ARBOR, MICH. — Oxford Cos. has acquired an 80,755-square-foot office property in Ann Arbor for $9.7 million. 555 Briarwood Circle is situated on 5.8 acres and features tenants such as financial services firm Rehmann, Real Estate One and Power Engineers. Oxford plans to invest over $700,000 in the property, including improvements such as a new roof, parking lot, landscaping, signage and lighting. The seller in the transaction was undisclosed.

July 6, 2016

Hospitality Kansas Midwest

Marcus & Millichap Brokers Sale of 67-Room Hotel in Kansas

by Christina Cannon July 6, 2016

COLBY, KAN. — Marcus & Millichap has brokered the sale of a 67-room hotel in Colby, located in northwest Kansas, for an undisclosed price. A limited liability company sold the Sleep Inn & Suites Colby, located at 2075 Sewell Ave., to a private investor. The three-story hotel was built in 2010. Steve Swenholt, Allan Miller and Chris Gomes of Marcus & Millichap listed the property on behalf of the seller and also represented the buyer in the transaction.

July 6, 2016

Indiana Loans Midwest Retail

NorthMarq Capital Arranges $1.4M Loan for Strip Center Near Louisville

by Christina Cannon July 6, 2016

NEW ALBANY, IND. — NorthMarq Capital has arranged a $1.4 million loan to refinance the Silver Run Center in New Albany, approximately five miles northwest of Louisville, Ky. The 11,355-square-foot property, located at 2860-2880 Charlestown Road, is shadow anchored by Kroger. The financing features a fixed-rate, three-year term and 20-year amortization schedule. Randall Waddell of NorthMarq Capital placed the loan with a local bank.

July 6, 2016

Industrial Midwest Wisconsin

The Dickman Company Arranges Sale of 44,262 SF Industrial Facility Near Milwaukee

by Christina Cannon July 6, 2016

NEW BERLIN, WIS. — The Dickman Company Inc./CORFAC International has arranged the sale of a 44,262-square-foot industrial building in New Berlin, approximately 15 miles southwest of Milwaukee. AQ Matic Real Estate purchased the facility, which is located at 16605-16685 W. Victor Road, from K.G. Stevens Holdings LLC for an undisclosed price. Anthony Huenerbein of The Dickman Company represented the seller in the transaction. Stephen Provancher and Mitchell Starczynski of NAI MLG Commercial represented the buyer.

July 6, 2016

Bio Tech Place, Wake Forest University, Winston-Salem, N.C.

Healthcare Life Sciences Top Stories

Ventas to Acquire Entire Wexford Life Science, Medical Portfolio for $1.5B

by Jeff Shaw July 6, 2016

CHICAGO — Giant healthcare REIT Ventas (NYSE: VTR) has agreed to acquire all the life sciences and medical real estate assets of Wexford Science & Technology for $1.5 billion. Wexford will continue to operate the portfolio, which includes 25 Class A properties totaling 4.5 million square feet. Blackstone Real Estate Partners VIII LP is the current owner of the properties, which are largely leased to universities, academic medical centers and research companies. Tenants include Yale University, the University of Pennsylvania Health System, Washington University in St. Louis, Wake Forest University and Alexion Pharmaceuticals. Of the 25 properties, 23 are currently in operation and are 97 percent leased. The remaining two properties are currently under development and are nearly 60 percent pre-leased to Duke University and Wake Forest University. Chicago-based Ventas also plans to acquire nine development sites contiguous to the existing assets for $50 million. The purchase will significantly diversify Ventas’ portfolio, as the company’s previous focus was almost exclusively on seniors housing and healthcare properties. Ventas has the second-largest portfolio of seniors housing in the United States with 785 properties totaling 69,708 units, according to the American Seniors Housing Association’s most recent numbers. The transaction includes a long-term management …

July 6, 2016

Industrial Kansas Market Reports Midwest Midwest Market Reports Missouri Uncategorized

Industrial Developers Shift into High Gear in Metro Kansas City

by Christina Cannon July 6, 2016

Kansas City’s industrial market is experiencing an incredible construction boom that is both market-driven and not limited to just one area or particular deal. In the past two years, multiple, diverse industries and tenant categories have shown interest in a variety of options around the area. The buildings going up and the tenants filling them cannot be pigeonholed into any single, narrow category. It’s encouraging that the entire market is doing well, not just one particular segment or submarket. The success of the market is widespread across the region. New buildings have gone up in Johnson County, Jackson County and Wyandotte County in the past few years. Projects also are moving forward in Platte County, up by Kansas City International Airport, and also in Executive and Northland Park. Additionally, Kansas City is providing options to companies of all sizes, from giant, bulk users to smaller users seeking the features associated with new development. New buildings such as Westlink Industrial Park in Johnson County and Kaw Point in Wyandotte County have offered tenants looking for 50,000 to 100,000 square feet the opportunity to access the amenities and features of modern construction that are associated with new bulk development. Both of those …

July 6, 2016

Loans Multifamily Texas

CBRE Arranges $34.5M Acquisition Loan for Apartment Community in Lewisville

by Christina Cannon July 5, 2016

LEWISVILLE, TEXAS — CBRE has arranged a $34.5 million loan for the acquisition of Provenza at Windhaven, a 324-unit, Class A apartment community located at 4900 Windhaven Parkway in Lewisville. Built in 2015, the property’s units feature granite countertops, kitchen islands, stainless steel appliances, wood-style flooring and wood cabinetry. Community amenities include a resort-style swimming pool with cabanas, grilling stations, a fitness center, private courtyards, club lounge, dog park with a wash station and a game room. Christopher Apone and Charles Foschini of CBRE’s Miami office arranged the eight-year loan through USAA on behalf of the borrower, Momentum Real Estate Partners.

July 5, 2016

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