Property Type

Houlihan-Parnes Realtors Arranges $1.5M Loan for Apartment Building in New York

by Amy Works September 4, 2015

GREAT NECK, N.Y. — Houlihan-Parnes Realtors has arranged a $1.5 million first mortgage loan for an apartment building located at 15 Beach Road in Great Neck. Built in 1950, the three-story building includes 54 apartments, on-site outdoor parking spots, 27 garages, gardens and a courtyard. The seven-year loan, which was placed with a savings bank, features a fixed interest rate of 3.5 percent and a 30-year amortization schedule. Jeremiah Houlihan of Houlihan-Parnes secured the financing for the undisclosed borrower.

September 4, 2015

Northeast Pennsylvania Retail

Rock Climbing Gym Leases 10,000 SF Property in Suburban Philadelphia

by Amy Works September 4, 2015

WYNCOTE, PA. — Philadelphia Rock Gym (PRG) has inked a multi-year lease for a 10,000-square-foot warehouse facility, located at 827 Glenside Ave., Suite 200 in Wyncote. The facility will be PRG’s fourth rock climbing location in the greater Philadelphia area. PRG is an indoor rock climbing gym known for its state-of-the-art climbing walls, full-service fitness centers and private party wall rentals. Swope Lees Commercial represented the tenant in the transaction with the landlord, Midgard Properties LP.

September 4, 2015

New York Northeast Retail

lululemon athletica Leases6,400 SF of Retail Space in NoHo

by Amy Works September 4, 2015

NEW YORK CITY — lululemon athletica inc. has leased 6,400 square feet of retail space at 50 Bond St. in New York City’s NoHo district. The athletic apparel company will occupy the space that Eva Scrivo Salon is vacating. The two-level retail unit features 13-foot ceilings on the ground floor and more than 30 feet of frontage on Bond Street. Designed by Cleverdon & Putzel and built in 1896, the property also features six full-floor residential condominiums. The landlord, Thor Equities, recently acquired the retail unit. Terms of the lease were not released. Eva Scrivo Salon is relocating to 5,500 square feet at 193 Fifth Ave. in the Flatiron district.

September 4, 2015

Loans Louisiana Retail Southeast

CBRE Secures $53M Loan for Shopping Center in Louisiana

by John Nelson September 4, 2015

HAMMOND, LA. — CBRE has secured a $53 million, 10-year loan for Hammond Square located in Hammond. Jonathan Rice, C.J. Kelly and Porter McDonald of CBRE arranged financing through Morgan Stanley on behalf of the borrower, Stirling Properties. Tenants at the center include Sears, Target, T.J. Maxx, JC Penney, Dillard’s, Ulta Beauty, Best Buy, Academy Sports + Outdoors and AMC Movie Theater.

September 4, 2015

Georgia Office Southeast

Blue Cross and Blue Shield of Georgia Opens New Office Building in Columbus

by John Nelson September 4, 2015

COLUMBUS, GA. — Blue Cross and Blue Shield of Georgia (BCBSGa), Georgia’s largest health solutions company, has opened its new office building in the Muscogee Technology Park in Columbus. The new 235,000-square-foot facility will house approximately 1,500 employees and will be BCBSGa’s main hub for servicing its nearly 3 million members. The new three-story facility will replace an existing property that BCBSGa has owned since 1958 and a smaller leased facility in the Muscogee Technology Park. The new property brings together the largest collection of BCBSGa employees of any single location in Georgia. The building has two wings connected by an atrium and features an outdoor patio, fitness center and a 1.2-mile walking path. Public partners on this project included Columbus Consolidated Government, the Development Authority of Columbus and the Greater Columbus Chamber of Commerce. The development team includes developer The Molasky Group, general contractor Batson-Cook Construction and architect Hecht Burdeshaw Architects. More than 150 construction workers were employed at the peak of construction, the vast majority of which through subcontractors from the Columbus area and the state of Georgia.

September 4, 2015

Louisiana Multifamily Southeast

Stirling Properties Purchases Apartment Complex in Louisiana

by John Nelson September 4, 2015

LAFAYETTE, LA. — Stirling Properties has purchased the Retreat at Acadian Point, a 384-unit apartment community located in Lafayette. Formerly known as South Point Apartments, the 80s-era property will begin upgrades including washer and dryers in all units, new appliances and flooring, electronically activated vehicular access gates, new roofs, new landscaping and a new fitness center. With the acquisition, Stirling’s portfolio spans 1,512 multifamily units. Des Moines, Iowa-based BH Management Services is the primary management firm for Stirling’s multifamily portfolio.

September 4, 2015

Georgia Retail Southeast

Shane Investment Property Brokers $4.9M Sale of Metro Atlanta Shopping Center

by John Nelson September 4, 2015

LAWRENCEVILLE, GA. — Shane Investment Property Group has brokered the $4.9 million sale of Old Norcross Plaza, a 38,800-square-foot, unanchored shopping center located in Lawrenceville, a northeastern suburb of Atlanta. Comprising two recently built buildings, Old Norcross Plaza was 80 percent leased at the time of sale to local tenants. Jeff Enck of Shane Investment Property Group represented the seller, a private investor based in California, in the transaction. The buyer was an unnamed private fund based in Atlanta.

September 4, 2015

Loans Multifamily Texas

NorthMarq Arranges $13M Refinance for Multifamily Portfolio in Wichita Falls

by Katie Sloan September 4, 2015

WICHITA FALLS, TEXAS — NorthMarq Capital has arranged the $13 million refinance of a three property multifamily portfolio consisting of 588 units in Wichita Falls. The properties are located at 3611 and 4515 Maplewood Ave. and 4700 Taft Blvd. Rob Hervey and Mark Dodson of NorthMarq secured financing on behalf of the borrower through a CMBS lender. The loan is structured under a 10-year term with a 30-year amortization schedule.

September 4, 2015

Industrial South Carolina Southeast

Binswanger Arranges 101,959 SF Industrial Lease in South Carolina

by John Nelson September 4, 2015

SPARTANBURG, S.C. — Binswanger has arranged a 101,959-square-foot industrial lease at 700 Buffington Road in Spartanburg. The warehouse facility fronts the I-85 Business Loop and features 31-foot clear heights, four tailgate loading docks and T-5 fluorescent lighting. The owner, Covington Group Inc., is planning to add office space, restrooms and more dock doors, as well as install an ESFR sprinkler system. Shaun Kirchin of Binswanger’s Columbia, S.C., office represented Covington Group in the lease transaction. The tenant, Kimura Inc., a supplier of steel containers and racks, plans to use the space to provide third-party logistics services for one of its customers.

September 4, 2015

Retail Texas

EDGE Realty Partners Arranges Two Retail Leases at Separate Centers in Houston

by Katie Sloan September 4, 2015

HOUSTON — EDGE Realty Partners has arranged two retail leases totaling 3,078 square feet at separate shopping centers located in Houston. In the first transaction, EDGE Realty Partners negotiated a 1,730-square-foot lease for OXXO at Sandbridge Plaza at the intersection of Eldridge Parkway and Sandbridge Drive. In the second transaction, the brokerage firm arranged a 1,348-square-foot lease for One Stop Nutrition at Briar Forest Plaza at the intersection of Eldridge Parkway and Briar Forest Drive in Houston. Hannah Smith of EDGE Realty Partners represented the landlord, West Houston Retail, in both transactions. Schuyler Pulford of Remax Commercial represented OXXO, and Jim Hendrix of Streetwise Retail Advisors represented One Stop Nutrition.

September 4, 2015

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