Property Type

Candler Hotel Atlanta, Curio Collection by Hilton

Hilton Worldwide Signs Candler Hotel Atlanta to Curio Collection

by John Nelson March 1, 2016

ATLANTA — Hilton Worldwide has signed a franchise agreement to bring Candler Hotel Atlanta to its Curio – A Collection by Hilton brand. REM Associates LP owns the property, which will open as Candler Hotel Atlanta, Curio Collection by Hilton in late 2017 following extensive renovations. The hotel is situated in downtown Atlanta and neighbors Woodruff Park, Georgia State University’s Balzer Theatre and Rialto Center for the Arts. REM has selected Highgate Hotels to manage the hotel, which was formerly known as the Candler Building, a 110-year-old office building and Atlanta’s first steel skyscraper. Development Services Group is developing the hotel, and REM is partnering with The Beck Group for design-build architecture and construction services and NICOLEHOLLIS for interior design. Upon completion, the hotel will feature 265 guestrooms, an outdoor rooftop space and a grand lobby with a white marble staircase, original Tiffany windows and a restaurant and bar.

March 1, 2016

Victory Point 14200 Park Meadow Drive Chantilly

Office Southeast Virginia

Goldstar Group, CrossHarbor Capital to Buy Office Building in Metro D.C. for $16.4M

by John Nelson March 1, 2016

CHANTILLY, VA. — A joint venture between The Goldstar Group and Boston-based CrossHarbor Capital Partners LLC has purchased a three-story, 150,000-square-foot office building located within Westfields Office Park in Chantilly for $16.4 million. The property, known as Victory Point, is located at 14200 Park Meadow Drive and was 82 percent leased at the time of sale to tenants such as Travelers Insurance. The former owner, Carr Properties, recently invested more than $2 million to renovate the common area lobby, upgrade the building’s physical plant and install a fitness and health center. Eric Berkman and Steve Gichner of Cushman & Wakefield represented Carr Properties in the sale. Goldstar Group and CrossHarbor Capital were self-represented in the transaction.

March 1, 2016

Retail Southeast Virginia

Stewart Commercial Brokers $7.8M Sale of Rite Aid in Metro D.C.

by John Nelson March 1, 2016

VIENNA, VA. — Stewart Commercial Realty Services LLC has brokered the $7.8 million sale of a 12,200-square-foot retail property in metro Washington, D.C., that is fully leased to Rite Aid. The store is located at 215 Maple Ave. W. in Vienna. Toby’s Vienna LLC purchased the store from David L. Hunter at a 6 percent cap rate. Terrell Marsh of Stewart Commercial represented the seller in the transaction.

March 1, 2016

Georgia Loans Office Southeast

NorthMarq Capital Arranges $5.9M Acquisition Loan for Office Building in Metro Atlanta

by John Nelson March 1, 2016

MARIETTA, GA. — NorthMarq Capital has arranged a $5.9 million acquisition loan for a 106,000-square-foot office building located at 1090 Northchase Parkway in Marietta, a northern suburb of Atlanta. Johnny Rankin and Wanda Riggs Mack of NorthMarq Capital’s Atlanta office arranged the non-recourse loan through a local bank. The loan featured no pre-payment penalties and a 25-year amortization schedule.

March 1, 2016

Healthcare Illinois Midwest

Duke Realty to Develop 80,000 SF Medical Office Building in Illinois

by Christina Cannon March 1, 2016

VILLAGE OF HUNTLEY, ILL. — Duke Realty will develop an 80,000-square-foot medical office building in the Village of Huntley, approximately 50 miles northwest of Chicago. The four-story building will be located on the Centegra Health campus. The facility is slated for completion in February 2017 and will connect to the 360,000-square-foot Centegra Hospital-Huntley, which has a completion date of August 2016. The medical office building will also connect to an existing 56,000-square-foot ambulatory care center. Tenants that have already signed leases at the building include Rosalind Franklin University of Medicine and Science, which will occupy 30,000 square feet and Northern Illinois Medical Center, which will occupy 20,000 square feet. Chicago-based Power Construction is the general contractor for the project, and Kahler Slater is the architect. St. Charles, Ill.-based O’Donnell Commercial Real Estate is managing leasing for the facility.

March 1, 2016

Illinois Midwest Office

Alex Brown Realty, Ameritus Acquire 150,815 SF Office Property in Chicago

by Christina Cannon March 1, 2016

CHICAGO — A joint venture organized by Alex Brown Realty Inc. and Ameritus LLC has acquired a 150,815-square-foot office building in the medical district of Chicago for an undisclosed price. The Hasting Center was constructed in 1942 and is currently 90 percent occupied. The building is the office component of a larger industrial facility. The four-story building features loft office elements such as 15-foot ceilings, exposed ductwork, open floor plates and 10-foot windows. The joint venture plans to renovate the entrance, lobby and parking ratio.

March 1, 2016

Midwest Ohio Retail

Midland Atlantic Properties Acquires 144,000 SF Shopping Center North of Dayton

by Christina Cannon March 1, 2016

TROY, OHIO — Midland Atlantic Properties has acquired Troy Towne Center, a 144,000-square-foot retail center in Troy, approximately 20 miles north of Dayton, for an undisclosed price. The shopping center is anchored by Kohl’s, Petco and Dollar Tree. Troy Towne Center is shadow anchored by a Walmart Supercenter and is surrounded by numerous retail outparcels. Other tenants at the retail center include Shoe Carnival, Sleep Outfitters and Verizon Wireless. The center, built in 1990, is 96 percent occupied. The seller in the transaction was undisclosed.

March 1, 2016

Illinois Midwest Restaurant Retail

Urban Innovation to Construct 11,000 SF Brewery in Chicago Suburb

by Christina Cannon March 1, 2016

GLENVIEW, ILL. — Urban Innovations will construct a new brewery and taproom for Ten Ninety Beer Co. in Glenview, approximately 19 miles northwest of Chicago. The 11,000-square-foot building, located at 1025 Waukegan Road, will consist of an 89-seat taproom, patio and production space for 5,000 barrels. Glenview-based Lindsay Associates Architects will provide design services.

March 1, 2016

Michigan Midwest Restaurant Retail

Colliers International Completes 6,000 SF Retail Lease in Lapeer, Michigan

by Christina Cannon March 1, 2016

LAPEER, MICH. — Colliers International has arranged the lease of 6,000 square feet of restaurant space in Lapeer, approximately 60 miles north of Detroit. New China Buffet will occupy the space at 797 E. St. Lapeer Associates LLC is the landlord. Paul Lichtenberg and Morry Levin of Colliers International represented the landlord in the transaction.

March 1, 2016

Office Texas

NAI Robert Lynn Arranges Office Lease in Dallas

by Haisten Willis March 1, 2016

DALLAS — Swagit Productions, which specializes in streaming media for government and TV stations, has leased 22,618 square feet of office space at North Central Plaza III, located at 12801 Central Expressway in Dallas. Kent Smith of NAI Robert Lynn negotiated the lease with Laura Maczka and Mark Jordan of JP Realty Partners / Sooner Management.

March 1, 2016

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