Property Type

Pierson Retail Advisors Arranges Sale of Retail Center in Wichita Falls

by Haisten Willis February 3, 2016

WICHITA FALLS, TEXAS — Pierson Retail Advisors (PRA) has arranged the sale of Millennium Towers, a 40,000-square-foot shopping center located in Wichita Falls. PRA represented the seller, Shining Properties Inc. A Texas-based buyer purchased the asset for an undisclosed price. Retailers in the immediate area include Lowe’s Home Improvement, Walmart Supercenter, Home Depot, Sam’s Club, Academy Sports + Outdoors, Bed Bath & Beyond, PetSmart and Kohl’s. Millennium Towers is 100 percent occupied by tenants such as Texas Blood Institute, Texas Orthodontics and Looking Good Spa.

February 3, 2016

Square Mile Capital Provides $50M Refinancing Loan for Apartment Building in Arlington Heights

by Christina Cannon February 3, 2016

ARLINGTON HEIGHTS, ILL. — Square Mile Capital Management LLC has provided a $50 million refinancing loan for One Arlington, a luxury multifamily property in Arlington Heights, approximately 26 miles northwest of Chicago. Stoneleigh Companies LLC was the borrower. One Arlington is an adaptive reuse conversion of a former Sheraton Hotel. The conversion was completed in June 2015. The property features 214 residential units, 17,200 square feet of ground floor retail space and an attached 313-space underground parking garage.

February 3, 2016

Midwest Minnesota Retail

Marcus & Millichap Brokers $8.6M Sale of Shopping Center in Stillwater, Minnesota

by Christina Cannon February 3, 2016

STILLWATER, MINN. — Marcus & Millichap has brokered the $8.6 million sale of an 82,436-square-foot shopping center in Stillwater, approximately 20 miles northeast of St. Paul. Valley Ridge Mall, located at 1250 Frontage Road West, was nearly 100 percent occupied at the time of sale and is home to 29 tenants. Adam Prins, Matthew Hazelton, Sean Doyle and Cory Villaume of Marcus & Millichap listed the property on behalf of the seller, a developer, and also secured the buyer, a private investor from outside Minnesota.

February 3, 2016

Industrial Midwest Ohio

CBRE Arranges 218,704 SF Industrial Lease in Monroe, Ohio

by Christina Cannon February 3, 2016

MONROE, OHIO — CBRE has arranged a 218,704-square-foot industrial lease at a building within Park North at Monroe. Hagemeyer North America, a distributor of industrial maintenance, repair and operations products, will lease the remaining space in the 649,312-square-foot Building 4. Park North at Monroe is a master-planned park located midway between Cincinnati and Dayton. Additional tenants at the park include SSB Manufacturing, Cornerstone Brands, Home Depot and UGN Inc. Jeremy Kraus of CBRE represented the building’s developer, IDI Gazeley, in the transaction. Eric Ramer of ICON Commercial and Josh Young of Newmark Grubb Knight Frank represented the tenant, Hagemeyer North America.

February 3, 2016

Healthcare Indiana Midwest

The Boulder Group Completes $3.7M Sale of Net-Leased Medical Building in Vincennes, Indiana

by Christina Cannon February 3, 2016

VINCENNES, IND. — The Boulder Group has completed the $3.7 million sale of a single-tenant net-leased building in Vincennes. The 6,488-square-foot property, located at 300 N. 1st St., is leased to Fresenius Medical Care. The facility was built in 2015. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based private partnership, in the transaction. The purchaser was a high-net-worth individual based on the West Coast. The newly signed 15-year Fresenius lease features 2 percent annual rental escalations.

February 3, 2016

Illinois Midwest Office

MB Real Estate Arranges 10,000 SF Office Lease in Chicago

by Christina Cannon February 3, 2016

CHICAGO — MB Real Estate has arranged a 10,000-square-foot office lease for ReviewTrackers, a software company that gathers consumer-generated data for businesses. ReviewTrackers has relocated to the new space from a 3,300-square-foot building at 415 N. Aberdeen St., nearly tripling its footprint. ReviewTrackers new location is at 320 W. Ohio St. Craig McCaw of MB Real Estate represented ReviewTrackers in the transaction. Jason Schulz of The J. Rich Co. represented the sub-landlord, Red Frog Events.

February 3, 2016

Multifamily New York Northeast

Eastern Consolidated Arranges $42M Sale of Residential Co-op in SoHo

by Amy Works February 3, 2016

NEW YORK CITY — Eastern Consolidated has arranged the sale of all of the shares of a residential co-op building located at 61-63 Crosby St. in SoHo. The four-story, 20,600-square-foot property sold for $42 million, or more than $2,000 per square foot. The building consists of loft apartments on the second, third and fourth floors, and an artist studio/loft apartment and one retail space on the ground floor. The property also features 6,537 square feet of development rights. Peter Hauspurg and Michael Coghill of Eastern Consolidated, along with former Eastern brokers David Schechtman and Abie Kassin, represented the co-op owners, while Adelaide Polsinelli, also of Eastern, represented the buyer, Crosby 61 LLC, in the transaction.

February 3, 2016

Industrial Loans Multifamily New Jersey Northeast Office Retail

Prudential Mortgage Capital Co. Provides $14.6B in Financing in 2015

by Amy Works February 3, 2016

NEWARK, N.J. — Prudential Mortgage Capital Co. (PMCC) exceeded $14.6 billion in total loan originations in 2015. The company provided financing driven by conventional agency loans and increasing originations in international loans. Some of the company’s 2015 achievements include lending more than $12.7 billion within the United States across multifamily, office, industrial and other sectors; international lending of $1.9 billion, including first time originations in Australia, France, Spain and re-entry into the Canadian market; nearly $3.4 billion in conventional and affordable multifamily loans across Fannie Mae, Freddie Mac and FHA; and agricultural debt and equity investments of $1 billion. PMCC is the commercial mortgage lending business of PGIM, the global investment management business of Prudential Financial Inc.

February 3, 2016

New Jersey Northeast Office

Mack-Cali Realty Acquires 196,128 SF Office Building in New Jersey

by Amy Works February 3, 2016

EDISON, N.J. — Mack-Cali Realty has acquired Metroview, a 10-story office building located at 333 Thornall St. in Edison for an undisclosed price. Situated on 11.5 acres, the 196,128-square-foot office building features 21,000-square-foot floor plates and was 96 percent occupied at the time sale. Major tenants include AXA Equitable, ICAP Securities, Cohn Reznick, Lincoln National, Merrill Lynch and United Healthcare. Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer and Frank DiTommaso of Cushman & Wakefield represented the undisclosed seller in the transaction.

February 3, 2016

Connecticut Northeast Office

Angel Commercial Brokers Two Deals in Connecticut Totaling $10.8M

by Amy Works February 3, 2016

WESTPORT, CONN. — Southport, Conn.-based Angel Commercial has arranged the sales of two properties in Westport owned by the Kowalsky family for a combined value of $10.8 million. In the first deal, a limited liability company controlled by Investment Capital Holdings LLC acquired a 42,624-square-foot multi-tenant office building at 1777 Post Road East for $6.8 million. In the second transaction, a limited liability company controlled by Coastal Construction Group purchased a 9,184-square-foot office building located at 1141 Post Road East for $4 million. Coastal Construction Group plans to develop a mixed-use development on the 5.4-acre site. Jon Angel and Brett Sherman of Angel Commercial represented the seller and buyers in the transactions, which both closed the last week of January.

February 3, 2016

Newer Posts

Older Posts