Property Type

Duke Realty to Develop 100,300 SF MOB Near Philadelphia

by Amy Works November 10, 2015

BRYN MAWR, PA. — Duke Realty plans to develop a 100,300-square-foot medical office building (MOB) for Main Line Health at its Bryn Mawr Hospital campus. Located at 130 Bryn Mawr Ave. in Bryn Mawr, the four-story building is estimated to cost $35 million. The property will house a 24,000-square-foot ambulatory surgery center, 13,000 square feet of primary care services and 10,000 square feet of auxiliary space to meet Main Line’s future needs. Development will begin in February 2016, and completion is slated for February 2017. The building will be owned by Duke Realty Bryn Mawr Development LLC. The Philadelphia office of Francis Cauffman is serving as architect and Health Sciences Construction Group is serving as general contractor for the project.

November 10, 2015

Office Texas

Bracewell & Giuliani Renews 189,061 SF Lease at Pennzoil Place in Houston

by Haisten Willis November 10, 2015

HOUSTON — Bracewell & Giuliani LLP has signed a 189,061-square-foot, long-term lease renewal at Pennzoil Place, located at 711 Louisiana St. in Houston. David Lee, Doug Little and Ben Quinton of Transwestern’s Houston headquarters negotiated the deal on behalf of the building owner, Metropolis Investment Holdings Inc. Bracewell & Giuliani is an international law firm with 450 lawyers in Texas, New York, Washington, D.C., Connecticut, Seattle, Dubai and London, serving Fortune 500 companies, major financial institutions, leading private investment funds, governmental entities and individuals concentrated in the energy, technology and financial services sectors worldwide. Tim Relyea and Brooke Wommack of Cushman & Wakefield represented the tenant.

November 10, 2015

Multifamily New York Northeast

Bottom Line Construction Breaks Ground for Residential Building in West Harlem

by Amy Works November 10, 2015

NEW YORK CITY — Bottom Line Construction & Development LLC has broken ground for Baldwin Park, a boutique residential building at 306 W. 148th St. in West Harlem. The six-story property will feature six floor-through condominiums featuring two bedrooms, two baths, balconies and stainless steel appliances, as well as a rooftop deck. APEX Building Group is serving as general contractor, while financing was provided by 100 Miles Fund managed by Procida Funding & Advisors. The property is slated for a summer 2017 occupancy.

November 10, 2015

Northeast Pennsylvania Retail

Colliers Brokers $4.4M Sale of Shopping Center in Hanover, Pa.

by Amy Works November 10, 2015

HANOVER, PA — Colliers International’s Harrisburg, Pa., office has brokered the sale of Centennial Commons Shopping Center in Hanover. Located at 3744-80 Centennial Road, the 48,220-square-foot property sold for $4.4 million. The property is occupied by Food Lion, Dollar General and Subway. William Aiello, George Lulos and Larry Kostelac of Colliers represented the seller, Conewago Contractors Inc., in the transaction. The buyer was Becrett LLC.

November 10, 2015

Affordable Housing Loans Multifamily Southeast Tennessee

Greystone Closes $88.6M Affordable Housing Financing in Tennessee

by John Nelson November 10, 2015

NEW YORK — Greystone has closed an $88.6 million multifamily transaction for the acquisition and rehabilitation of 20 aged apartment communities totaling 793 residences in Tennessee. Greystone arranged the transaction on behalf of the owner and operator, The Hallmark Cos. Inc. Greystone worked closely with the Tennessee Housing Development Agency, as well as the USDA’s Rural Housing Service National Office and Tennessee State Office. The financing, which combined both public and private funding, included $28 million in tax-exempt bonds issued by The Health, Educational and Housing Facilities Board of Sevier County, Tennessee. Stifel, Nicolaus & Co. Inc. facilitated the bond issuance. Other capital sources included more than $16 million of Low Income Housing Tax Credits, the assumption of $21.8 million of original USDA Section 515 debt, $21.9 million of senior debt and $830,000 in additional funds.

November 10, 2015

Industrial Southeast Tennessee

Cushman & Wakefield Arranges 800,000 SF Industrial Lease in Memphis

by John Nelson November 10, 2015

MEMPHIS, TENN. — Cushman & Wakefield arranges 800,000-square-foot industrial lease at Memphis Oaks 3 located at 3860 E. Holmes Road in Memphis. The new lease brings the property to 100 percent occupancy. Patrick Walton and Kemp Conrad of Cushman & Wakefield/Commercial Advisors represented the landlord, Panattoni Development Co., in the lease transaction. Michael Reid and Tim O’Callaghan of Binswanger represented the tenant, an unnamed Fortune 500 retail company. The new tenant will occupy 500,000 square feet that Sharp Electronics will vacate at the end of the year. The remaining 300,000 square feet is currently vacant. In addition to the new tenant, General Electric leases 225,000 square feet at Memphis Oaks 3.

November 10, 2015

Baltimore-Washington Logistics Center Jessup

Industrial Maryland Southeast

G. Cefalu & Bro, Capital Seaboard Sign 160,000 SF Industrial Lease in Maryland

by John Nelson November 10, 2015

JESSUP, MD. — The parent company of G. Cefalu & Bro Inc., a wholesale produce supplier, and Capital Seaboard, a produce and seafood distributor, has signed a full-building industrial lease for 160,000 square feet within the Baltimore-Washington Logistics Center. The industrial park is located in Jessup, roughly halfway between Baltimore and Washington, D.C., in Howard County. The parent company, known as CGC Holdings Inc., signed the lease with the landlord, Manekin-sponsored MCA Assateague. The groundbreaking for the facility, located at 7350 Assateague Drive, is scheduled for Nov. 13, and construction is expected to wrap up in June 2016. The new facility will include an ESFR fire suppression system, LED lighting and multi-zone freezer/cooler areas.

November 10, 2015

Georgia Office Southeast

Lincoln Arranges More than 100,000 SF of Office Leases in Alpharetta

by John Nelson November 10, 2015

ALPHARETTA, GA. — Lincoln Property Co. Southeast has brokered office leases totaling more than 100,000 square feet in Alpharetta, a northern suburb of Atlanta. Michael Howell and Hunter Henritze of Lincoln represented the landlords in the transactions, which included SunTrust Mortgage’s 6,992-square-foot lease renewal at One Northwinds Center at 2475 Northwinds Parkway; Wells Fargo Advisors’ 17,046-square-foot lease renewal at Two Northwinds Center at 2520 Northwinds Parkway; CenturyLink Communications’ 20,197-square-foot lease renewal at Brookside One at 3625 Brookside Parkway; Guilford Insurance’s new 12,180-square-foot lease at Preston Ridge IV at 3440 Preston Ridge Road; Biota Pharmaceuticals’ 11,788-square-foot lease expansion at Three Northwinds Center at 2500 Northwinds Parkway; Thyssen Krupp’s 19,745-square-foot lease expansion and renewal at 400 Northwinds Parkway; Auto Vin’s new 8,656-square-foot lease at 800 N. Point Parkway; Veeam Software’s 6,959-square-foot lease expansion at 2520 Northwinds Parkway; McManamy McLeod Heller’s new 4,590-square-foot lease at 11525 Haynes Bridge Road; Windward Specialty Group’s new 3,126-square-foot lease at 2500 Northwinds Parkway; and Select Selling’s new 4,307-square-foot lease at 2520 Northwinds Parkway. Kirk Diamond and Dale Lewis of DTZ represented Wells Fargo, Dave Kilborn of Newmark Grubb Knight Frank represented CenturyLink, Allison Bittell of Cushman & Wakefield represented Guilford Insurance, Steve Farrar of Newburger Andes represented …

November 10, 2015

Georgia Retail Southeast

Publix to Open Grocery Store at New Shopping Center in North Georgia

by John Nelson November 10, 2015

DAWSONVILLE, GA. — Publix has signed a 45,600-square-foot lease at Dawson Crossroads, a new 98,400-square-foot shopping center under construction at 4130 Dawson Forest Road in Dawsonville. The grocery-anchored shopping center is set to open in the fall of 2016 at the southeast corner of GA 400 and Dawson Forest Road. Halpern Enterprises is the developer of the project, which will also house Brooklyn Joe’s Pizzeria, Lee Nails, Great Clips, Totally Running, Top Cleaners and Chili’s.

November 10, 2015

Illinois Midwest Multifamily

Sinatra & Co. Acquires 272-Unit Multifamily Property in Aurora, Illinois for $34.5M

by Christina Cannon November 10, 2015

AURORA, ILL. — Sinatra & Company Real Estate has acquired a 272-unit multifamily complex in Aurora as part of joint venture with Stadt Group and National Property REIT Corp. The purchase price was $34.5 million. The complex is located at 1240 W. Indian Trail Road in Aurora, approximately 40 miles west of Chicago. Orchard Village Apartments was built in 2000 and is situated on 17.3 acres. Community amenities include a clubhouse, fitness center and an outdoor swimming pool with sundeck. Unit amenities include private entrances, washers and dryers and vaulted ceilings. Peter Evans of Moran & Co. represented the seller, Sherman Residential. Anthony Licata and Pablo Petrozzi of Taft Stettinius & Hollister LLP represented the joint venture. Sinatra & Company Real Estate invests in distressed and value-add real estate opportunities. Stadt Group is a Chicago-based residential property management and acquisitions firm, and National Property REIT Corp. is a private real estate investment trust controlled by Prospect Capital Corp.

November 10, 2015

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