Property Type

NorthMarq Arranges Two Loans Totaling $18.1M for Two Properties in Kentucky

by John Nelson April 14, 2015

HEBRON AND WILDER, KY. — NorthMarq Capital has arranged the refinancing of two properties in Hebron and Wilder totaling $18.1 million. The properties include Shoppes at Worldwide Park in Hebron and Aspen Pines Apartments in Wilder. Shoppes at Worldwide Park is a 13,174-square-foot unanchored retail property located at 2010 N. Bend Road. Aspen Pines is a 245-unit Class A apartment community located at 1700 Aspen Pines Drive. Susan Branscome of NorthMarq’s Cincinnati office arranged the $16.8 million loan for Aspen Pines through PPM and the $1.3 million loan for Shoppes at Worldwide Park through Symetra.

April 14, 2015

Georgia Retail Southeast

Crossman & Co. Brokers $8.6M Sale of Shopping Center in Roswell

by John Nelson April 14, 2015

ROSWELL, GA. — Crossman & Co. has brokered the $8.6 million sale of Market Center, an 82,225-square-foot shopping center located on Holcomb Bridge Road in Roswell, a suburb of Atlanta. The Office Depot-anchored center was built in 1990 and was 56 percent leased at the time of sale. Brian Carolan and John Zielinski of Crossman & Co. represented the institutional seller in the transaction. The buyer was an unnamed investment fund.

April 14, 2015

Florida Office Southeast

ANDA Global, Fairlead Purchase Class A Office Building in Tampa

by John Nelson April 14, 2015

TAMPA, FLA. — ANDA Global Co. Ltd. has partnered with Fairlead Commercial Real Estate to purchase Sabal VI, a two-story, 97,527-square-foot office building located at 3611 Queen Palm Drive in Tampa. The partnership purchased the Class A asset for an undisclosed price with equity from ANDA Global and Fairlead’s investment fund, Mandalay-FCRE Fund I. Dale Peterson, Courtney Decker and Donald Jennewein of CBRE represented the undisclosed seller in the transaction. The asset was fully leased at the time of sale. ANDA Global is an affiliate of South Korea-based ANDA Asset Management Co. Ltd.

April 14, 2015

Features Office Southeast Feature Archive Top Stories

Demand For Tech Workers Drives Atlanta Office Market, Says CBRE

by Haisten Willis April 14, 2015

LOS ANGELES — Tech talent clustering is a growing driver of demand for office space in both large and small markets across the U.S., according to a new CBRE Research report, “Scoring Tech Talent,” which ranks 50 U.S. markets according to their ability to attract and grow tech talent. Atlanta ranks as number 10 on the overall tech talent list, and has the lowest apartment rents, cost of living, occupancy costs and overall cost of doing business when compared with the other cities in the top 10 (Silicon Valley, Washington, D.C., San Francisco, San Francisco Peninsula, New York, Seattle, Boston, Baltimore and Austin). While established tech markets like San Francisco, Washington, D.C., and Seattle dominated the top spots on the “Tech Talent Scorecard,” many smaller, up-and-coming markets stood out as top “momentum markets” based on tech talent growth rates. Oklahoma City and Nashville had tech talent growth rates of 39 percent between 2010 and 2013, higher than Seattle (38 percent) and just below that of San Francisco (44 percent) and Baltimore (42 percent). Portland, Ore., and Charlotte both saw tech talent growth rates of 28 percent, outpacing well-known tech markets like Austin (26.5 percent), Silicon Valley (20.8 percent) and Los Angeles …

April 14, 2015

Multifamily New Jersey Northeast

Fisher Development Breaks Ground on 44-Story Residential Tower in New Jersey

by Amy Works April 14, 2015

JERSEY CITY, N.J. — Fisher Development Associates has broken ground for the construction of the first phase of 33 Park Avenue, 44-story residential tower on the Gold Coast of downtown Jersey City. Designed by Perkins Eastman, the 448-unit tower is part of a two-building project in Jersey City’s Liberty Harbor North area. 33 Park Avenue will feature a mix of studio, one- and two-bedroom residential units, ranging from 550 to 1,200 square feet; a 24-hour concierge; an outdoor pool, lounge and landscaped deck; a children’s playroom; cyber café; business center; conference room; screening room; and bicycle and general storage space. The residential tower is slated for completion in spring 2017. At total build out, the two-phase project will feature 900 rental residences, retail space, a state-of-the-art health club, indoor and outdoor screening areas and a full-size sports court. Additional plans for the project include the development of a 267-room Marriott hotel by Tramz Hotels.

April 14, 2015

Multifamily New York Northeast

Eastern Consolidated Arranges $6.6M Sale of Greenwich Village Apartment Building

by Amy Works April 14, 2015

NEW YORK CITY — Eastern Consolidated has arranged the sale of a walk-up apartment building, located at 630 Hudson St. in New York City’s Greenwich Village. 630 Hudson LLC purchased the property for $6.6 million from Hudson Unity LLC. The four-story, 6,158-square-foot residential building features six one-bedroom apartments, five of which are rent stabilized, a basement and ground-floor retail space. Gabriel Saffioti of Eastern Consolidated represented the buyer, while Andrei Danshes and Roberto Ortiz, also of Eastern Consolidated, represented the seller in the transaction.

April 14, 2015

Multifamily New York Northeast

Houlihan-Parnes Realtors Brokers Sale of Apartment Building in the Bronx

by Amy Works April 14, 2015

NEW YORK CITY — Houlihan-Parnes Realtors has brokered the sale of an apartment building located at 2275 Morris Ave. in the University Heights neighborhood of the Bronx. A Great Neck, Long Island-based real estate holding company purchased the building for $2.7 million from an undisclosed seller. The five-story walk-up building features 25 apartment units and five ground-floor retail units. The buyer facilitated the acquisition with a five-year loan, which features a 3.5 percent interest rate and a 30-year amortization schedule. Jeremiah Houlihan negotiated the transaction. The seller was represented by Valentin Djonovic P.C. and the buyer was represented by James Prince, Esq.

April 14, 2015

Connecticut Industrial Northeast

Gramercy Property Trust Buys 24,700 SF Facility in Connecticut

by Amy Works April 14, 2015

MILFORD, CONN. — Gramercy Property Trust has acquired a 24,700-square-foot facility located at 250 Research Dr. in Milford. Darobara Milford LLC and 95 CT LLC sold the property for an undisclosed price. FedEx currently occupies the property. Lew Finkelstein and CJ Huter of The Goldstein Group represented the seller in the transaction.

April 14, 2015

Multifamily New York Northeast

GFI Realty Arranges $1.2M Sale of Bushwick Multifamily Property

by Amy Works April 14, 2015

NEW YORK CITY — GFI Realty Services has arranged the sale of an apartment building located at 138 St. Nicholas Ave. in the Bushwick section of Brooklyn. The three-story walk-up sold for $1.2 million or 16 times the rent roll. Constructed in 1931, the property features six apartments. Kobi Zamir of GFI Realty Services represented the buyer, and Ron Kavrai, also of GFI, represented the seller in the transaction. The buyer and seller are both local investors.

April 14, 2015

Industrial Utah Western

CCI Mechanical Buys Cache Valley Electric Facility in Salt Lake City

by Nellie Day April 14, 2015

SALT LAKE CITY – CCI Mechanical has acquired the 77,000-square-foot Cache Valley Electric Facility in Salt Lake City for an undisclosed sum. The facility is located at 2345 S. John Henry Drive. The design-build mechanical contractor specialist will move into the building shortly. CCI was represented by Kyle Roberts of Newmark Grubb ACRES. The seller, Cache Valley Electric, was represented by Lucas M. Burbank of NGA.

April 14, 2015

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