Property Type

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

New York Northeast Retail

SL Green, The Moinian Group Sign Nordstrom as Retail Anchor for 3 Columbus Circle in NYC

by Amy Works February 3, 2016

NEW YORK CITY — SL Green Realty Corp. and The Moinian Group have signed a lease with Nordstrom to anchor three levels of retail space at 3 Columbus Circle in New York City. The store has signed a 23-year lease for 43,000 square feet of retail space. The new location will serve as an expansion of the Nordstrom full-line flagship store, which is debuting on West 57th Street. Derek Trulson of JLL and Stephen Stephanou of Crown Retail Services represented Nordstrom, while Jeff Winick of Winick Realty Group represented the landlord in the lease transaction.

February 3, 2016

California Retail Western

Decron Properties Sells El Monte Shopping and Automotive Center for $84.5M

by Nellie Day February 3, 2016

LOS ANGELES — Merlone Geier Partners has purchased El Monte Shopping and Automotive Center, a 473,347-square-foot automotive and retail center located in El Monte, from Decron Properties for $84.5 million. The property is comprised of a traditional shopping center and Longo Lexus dealership. Savills-Studley Retail Investment Group represented Decron Properties, while Melone Geier Partners was self-represented in the transaction. Tenants at the center include Sears, Staples, Deardens, Big 5 Sporting Goods, RadioShack and Jamba Juice.

February 3, 2016

Retail Utah Western

Vestar, Oaktree Acquire Retail Center at The Gateway in Salt Lake City

by Nellie Day February 3, 2016

SALT LAKE CITY — Vestar, in a joint venture with funds managed by Oaktree Capital Management L.P., has acquired a 623,205-square-foot open-air retail and entertainment center within The Gateway, a retail, residential and office complex located in downtown Salt Lake City. The purchase price was not disclosed. The center is leased to over 100 tenants including Barnes & Noble Bookstore, California Pizza Kitchen, The Depot, Dick’s Sporting Goods, Megaplex 12 at The Gateway, Metro Fitness, Starbucks Coffee and Victoria’s Secret. Vestar plans to invest $30 million in revitalizing and rebranding the center.

February 3, 2016

Colorado Multifamily Western

Advenir Acquires Apartment Building in Denver for $42M

by Nellie Day February 3, 2016

DENVER — Advenir has purchased a 292-unit apartment community in Denver for $42 million. The community, formerly known as Cypress Point, has been rebranded as Advenir at Cherry Creek South. It is located at 1211 S. Quebec Way. Advenir at Cherry Creek South was built in 1979. The property underwent $2 million in exterior, interior and common-area renovations. Advenir plans to pump an additional $3 million into the community.

February 3, 2016

Newer Posts

Older Posts