Property Type

Fortis Property, Joy Construction Sell Newly Developed Residential Property in Brooklyn

by Amy Works April 6, 2016

NEW YORK CITY — Fortis Property Group and Joy Construction Corp. have completed the disposition of Atelier Williamsburg, a newly developed residential property located at 239-261 N. Ninth St. in the Williamsburg neighborhood of Brooklyn, for an undisclosed sum. Completed in 2015, the 120-unit property features studio, one-bedroom and two-bedroom apartments, a 24-hour doorman, rooftop deck with barbecues and skyline views, resident lounge with billiards table and entertaining kitchen, landscaped courtyard and a state-of-the-art fitness center. Andrew Scandalios, Jeff Julien and Rob Hinckley of HFF represented the seller in the transaction. The name of the buyer was not released.

April 6, 2016

Industrial Massachusetts Northeast

The Stubblebine Company Brokers $3.1M Sale of Industrial Building in Massachusetts

by Amy Works April 6, 2016

DRACUT, MASS. — The Stubblebine Company has arranged the sale of an industrial building located at 20 Commercial Drive in Dracut. 303 Broadway Nominee Trust acquired the 55,890-square-foot property from LB Investment Group LLC for $3.1 million. Micah Stubblebine of The Stubblebine Company represented the seller and procured the buyer in the transaction.

April 6, 2016

Retail Texas

Disney Investment Group Arranges Sale of Retail Power Center in Metro Austin

by Haisten Willis April 6, 2016

BEE CAVE, TEXAS — Disney Investment Group (DIG) has arranged the sale of Shops at the Galleria, a 537,685-square-foot retail center located in the Austin suburb of Bee Cave. The center was 99 percent leased at the time of sale to tenants including Lowe’s Home Improvement, Best Buy, Marshall’s, HomeGoods, Cost Plus World Market, Michaels, PetSmart, Office Max, Old Navy and Ulta Beauty. DIG procured the buyer, Chicago-based InvenTrust Properties Corp., and CBRE represented the seller, Christopher Commercial Inc., in the transaction.

April 6, 2016

Office Texas

Cielo Property Group Buys Downtown Austin Office Building

by Haisten Willis April 6, 2016

AUSTIN, TEXAS — Cielo Property Group has purchased a five-story office building located at 900 Congress Ave. in downtown Austin. The 64,000-square-foot building includes nine levels of off-site accessory parking at 816 Colorado St. Cielo purchased a 15-story office tower located across the street at 823 Congress Ave. in 2014. The company plans to upgrade the Art Deco-style building with a renovation of the lobby and elevators, as well as improvements to its streetscape and canopy. This is the sixth downtown Austin property that Cielo has acquired since it was founded in 2010. The company also owns three historic mixed-use buildings at 315, 319 and 323 Congress Ave., as well as 601 W. Third St., where it plans to break ground on a 29-story office tower called Third + Shoal later this year.

April 6, 2016

Industrial Office Texas

Binswanger Brokers Sale of 204,346 SF Office/Flex Building in Austin

by Haisten Willis April 6, 2016

AUSTIN, TEXAS — Binswanger has arranged the sale of a 204,346-square-foot office-flex building located on 18.9 acres at 6800 Burleson Road in Austin. Holmes Davis of Binswanger’s Dallas office represented the seller, DivcoWest Real Estate Services Inc. Roger Shipp represented the buyer, Capital Commercial Investments, internally. Built in 1985 and renovated in 1995, the property was a part of the former Lockheed Martin campus near Austin’s-Bergstrom International Airport.

April 6, 2016

Multifamily Texas

M&M Arranges Sale of 264-Unit Apartment Building in Arlington

by Haisten Willis April 6, 2016

ARLINGTON, TEXAS — Marcus & Millichap has arranged the sale of Woodlands of Arlington, a 264-unit apartment property located in Arlington. Al Silva and Ford Braly of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a Dallas-based partnership. Silva and Braly also secured the buyer, a private real estate company based in Texas. Woodlands of Arlington is located at 2800 Lynnwood Drive. The new owner plans to renovate the property.

April 6, 2016

Restaurant Retail Texas

Whiskey Cake Kitchen & Bar to Open in Metro Houston

by Haisten Willis April 6, 2016

KATY, TEXAS — Dallas-based Front Burner Restaurants will break ground on a Whiskey Cake Kitchen & Bar location in Katy at the 120-acre Verde Parc. The 8,500-square-foot restaurant will open this fall and will be situated on a 2.5-acre tract fronting I-10. Whiskey Cake Kitchen & Bar offers entrées like mesquite grilled steak and fish and smoked duck, as well as appetizers like green tomatoes and deviled eggs. The bar is stocked with 24 craft beers, 100 small batch bourbons, whiskeys and scotch and 30 varieties of wine. Whiskey Cake currently operates locations in northwest San Antonio, Plano and northwest Oklahoma City. Parkside NEC Grand Parkway/I-10 Ltd. was the seller. Hugh Ruggles of NewQuest Properties was the deal’s sole broker. Parkside Capital bought the Verde Parc land in January 2014 from Indianapolis-based Simon Property Group.

April 6, 2016

California Retail Western

Bonnis Properties Buys Foreman & Clark Building in Los Angeles for $52M

by Nellie Day April 6, 2016

LOS ANGELES — Bonnis Properties has purchased the 147,346-square-foot Foreman & Clark Building in downtown Los Angeles for $52 million. The 13-story building is located at 404 W. 7th St. The space was originally built in 1929 as a Foreman & Clark department store. It most recently served as a jewelry mart, but was vacated in mid-2015 when the space was slated to transform into a boutique hotel. Bonnis plans to rehabilitate and restore the historic core property. Redevelopment details are in the early planning stages. Derrick Moore of Avison Young represented the buyer. CBRE’s Phillip Sample and Chris Caras represented the seller, Dr. Kyung Ku Cho, in this transaction.

April 6, 2016

Georgia Healthcare Southeast

Emory Healthcare, Atlanta Hawks to Build $50M Sports Medicine Center, Team Training Facility

by John Nelson April 6, 2016

BROOKHAVEN, GA. — The Atlanta Hawks Basketball Club and Emory Healthcare have partnered to build a 90,000-square-foot training and sports medicine center on Executive Park Drive in Brookhaven, which will serve as the team’s official practice site. The privately funded facility will cost roughly $50 million to develop, according to the Atlanta Journal-Constitution. The project will feature a fully dedicated recovery area including cryotherapy, sensory deprivation tanks and in-ground hydrotherapy. All non-sports orthopaedic specialties will be located two blocks away at The Emory Orthopaedics & Spine Center. The team expects to break ground this summer, and the Hawks Basketball Operations Department will be housed in the facility upon its completion. In addition to the naming rights entitlement of the training and sports medicine facility, Emory will become the official sports medicine provider of the team. The Hawks’ new facility will be the first in the NBA to be co-located with an entire sports medicine center, allowing for expert and immediate treatment and on-site access to state-of-the-art equipment such as a 3 Tesla MRI scanner. Emory will utilize roughly 30,000 square feet that will offer preventative and rehabilitative treatment and sports performance training. The entire roster of doctors, surgeons and specialists …

April 6, 2016

Multifamily Oregon Western

Pacific Urban Residential Buys Spyglass Hill Apartments in Beaverton for $25.3M

by Nellie Day April 6, 2016

BEAVERTON, ORE. — Pacific Urban Residential has purchased the 137-unit Spyglass Hill apartment complex in Beaverton for $25.3 million. The community is located at 14305 S.W. Sexton Mountain Drive, just 11 miles southwest of downtown Portland. Spyglass Hill is 97.9 percent leased. It is situated near Nike and Intel. HFF’s Ira Virden represented the seller, Hamilton Zanze, in this transaction.

April 6, 2016

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