Property Type

Mid-America Arranges Two Retail Leases Totaling 8,775 SF in Illinois

by Christina Cannon October 29, 2015

CHICAGO AND DEKALB, ILL. — Mid-America Asset Management Inc. has arranged two retail leases in separate transactions in Illinois. Jimmy Jazz has signed a 4,811-square-foot lease at Ford City Mall in Chicago. The 661,644-square-foot shopping mall is anchored by AMC Theatres, JCPenney, Carson’s, Marshalls, Ross Dress for Less and hhgregg. Marget Graham, Maria Rossobillo and Sarah Drumgould of Mid-America represented the landlord. The tenant was self-represented. In the second transaction, Athletico inked a deal for 3,964 square feet at Oakland Place in DeKalb. Other tenants in the 155,730-square-foot facility include Michaels, T.J. Maxx, Super Target, DSW Shoe Warehouse and Pier 1 Imports. Katie Hennegan and Paige Schisser of Mid-America represented the landlord. Hyatt Thompson of Swearingen Realty Group LLC represented the tenant.

October 29, 2015

Office Southeast Virginia

Federal Capital Partners Acquires One Dulles Tower in Virginia for $84M

by John Nelson October 29, 2015

HERNDON, VA. — Federal Capital Partners (FCP) has purchased One Dulles Tower, a 400,000-square-foot, Class A office building located at 13200 Woodland Park Drive in Herndon, for $84 million. The property is located two miles east of Dulles Airport and a half-mile from both the future Herndon and Innovation Center Silver Line Metro stations. The office tower is fully leased by Booz Allen Hamilton, a business management consultant that will vacate the property before the end of the year. Bill Collins, Paul Collins, James Cassidy, Jud Ryan and Drew Flood of Cushman & Wakefield represented the seller, Corporate Office Properties Trust, in the transaction.

October 29, 2015

Seniors Housing South Carolina Southeast

Cardinal Ventures Hires Frampton Construction to Build New Seniors Housing Property in Columbia MSA

by John Nelson October 29, 2015

ELGIN, S.C. — Mississippi-based seniors housing developer Cardinal Ventures has hired Frampton Construction Co., a South Carolina-based construction firm, to build The Blake at Woodcreek Farms, an assisted living and memory care community in the Columbia suburb of Elgin. The Class A community will be a two-level, 100-unit facility when completed. This will be the first South Carolina location of The Blake, which has other locations in Alabama, Florida, Louisiana and Mississippi. Frampton Construction broke ground on the community in September, and expects to open The Blake in the fall of 2016.

October 29, 2015

North Carolina Office Southeast

CBRE Brokers $27M Sale of Office Park in Metro Charlotte

by John Nelson October 29, 2015

HUNTERSVILLE, N.C. — CBRE has brokered the $27 million sale of Kenton Circle, a 135,757-square-foot, three-building office park in Huntersville, part of the North Charlotte office submarket. Kenton Circle’s anchor tenants include Bank of America Merrill Lynch, Wells Fargo, Berkshire Hathaway HomeServices Carolinas Realty and IMG. A joint venture between Acre Valley Real Estate Capital LLC and ABS Partners Real Estate LLC purchased the property from Childress Klein and WHI Real Estate Partners LLC. Childress Klein will continue to serve as property manager and leasing agent for the new owner. Patrick Gildea of CBRE’s Charlotte office represented the sellers in the transaction.

October 29, 2015

Florida Industrial Southeast

McCraney Property Inks 451,823 SF Build-to-Suit Lease in Orlando

by John Nelson October 29, 2015

ORLANDO, FLA. — McCraney Property Co. has secured a new, long-term build-to-suit lease with Freeman Expositions Inc. for 451,823 square feet at Bent Oak Phase II in Orlando. The 1 million-square-foot development project is planned to complement the existing 703,920-square-foot Phase I of Bent Oak at 1701 and 1802 Boice Pond Road. The lease represents the largest build-to-suit industrial lease signed in the market in more than seven years, bringing the industrial park to 48 percent leased prior to the construction of Bent Oak II. McCraney Property has teamed up with joint venture partner Clarion Partners to develop Bent Oak II. Bent Oak II will be located at the intersection of Taft Vineland Road and the Florida Turnpike and will deliver by year-end 2016 and will consist of six buildings in total. Freeman will relocate from its current locations to occupy 100 percent of Building 600. McCraney Property has hired Edwards Construction, C4 Architecture and Smiley & Associates Engineering to design and build the project. Matt Sullivan of Cite Partners represented McCraney Property and Clarion Partners in the transaction. Tom McCarthy, Joe Hills and Josh Lipoff of JLL represented the tenant.

October 29, 2015

Brightview Fallsgrove 9200 Darnestown Road Rockville

Loans Maryland Seniors Housing Southeast

Grandbridge Arranges $19M Refinancing of Seniors Housing Property in Maryland

by John Nelson October 29, 2015

ROCKVILLE, MD. — Grandbridge Real Estate Capital’s seniors housing and healthcare finance team in Atlanta has arranged the $19 million refinancing of Brightview Fallsgrove, a seniors housing property located at 9200 Darnestown Road in Rockville. The property features 70 assisted living units and the 24-unit Wellspring Village, which houses residents needing dementia care. Richard Thomas and Meredith Davis of Grandbridge arranged the loan through an agency lender of behalf of the owner.

October 29, 2015

Loans Multifamily New Jersey Northeast

Cushman & Wakefield Completes $43.5 Million in Loans for Transit-Oriented Sites in New Jersey

by Jaime Lackey October 28, 2015

EAST ORANGE, N.J. — Cushman & Wakefield has arranged $43.5 million in financing for a pair of adjacent residential and mixed-use properties located at 141 and 315 South Harrison Street in East Orange, on behalf of Blackstone 360, the properties’ owner. George Gnad, Jessica Ke and Michael Winters of Cushman & Wakefield secured the financing from Amboy Bank. The Capital Services team arranged a $19.5 million-term loan for the 105-unit high-rise residential building located at 141 South Harrison, and an additional $24 million construction loan for a proposed seven-story project of 150 high-end luxury rental residential units above the current 30,000 square feet of ground-level commercial space located at 315 South Harrison.

October 28, 2015

Mixed-Use New York Northeast Office Retail

Quinlan and Building & Land Technology Redevelop The Pioneer Warehouse in Brooklyn

by Jaime Lackey October 28, 2015

NEW YORK CITY — Quinlan Development Group and Building and Land Technology (BLT) are redeveloping the 100-year-old The Pioneer Warehouse at 41 Flatbush Avenue in downtown Brooklyn. The $30 million redevelopment of the 10-story property, which will be renamed The Pioneer Building, will result in approximately 235,000 square feet of modern office space and 25,000 square feet of retail space ready for occupancy in second quarter 2016. Located near the Barclays Center and Atlantic Terminal, The Pioneer Building is well along in a comprehensive redevelopment to enhance the building’s barrel-vaulted terra cotta ceilings, brick walls and ornate limestone façade. The interior finishes and exterior enhancements have been designed by architects Beyer Blinder Belle. New features include new, oversized, energy-efficient windows, state-of-the-art tenant-controlled HVAC units, industrial-sized elevator cabs, a renovated lobby, a landscaped roof terrace with views of all of Downtown Brooklyn and the New York Harbor, and an on-site bicycle storage facility. The property owners have named Bruce Mosler, Mikael Nahmias, and Joseph Cirone of Cushman & Wakefield as exclusive leasing agents.

October 28, 2015

Mixed-Use Multifamily New Jersey Northeast Retail

Margules Properties Buys Five Jersey City Mixed-Use Buildings for $8.5M

by Jaime Lackey October 28, 2015

JERSEY CITY, N.J. — Margules Properties Inc. has purchased five mixed-use buildings in Jersey City for $8.5 million. The company — which owns and manages more than 1 million square feet of development rights in the city’s Journal Square neighborhood — plans to upgrade the buildings to make them more appealing to new retail tenants and millennials looking for apartments near the PATH train. Two of the buildings form a triangle bound by Montgomery Avenue, Orchard Street and Jordan Avenue, in the McGinley Square section of Jersey City. They include a gut-renovated, five-story walk-up building at 52 Orchard Street, with 12 apartments and three stores, and 685 Montgomery Avenue, a three-story mixed-use building with three stores and five apartments. The other buildings include 70 Tonnele Avenue, a 17-unit apartment building; 142 Monticello Avenue, a corner three-story townhouse building with 2,500 square feet of retail space on the first floor and two units with two bedrooms each on the two upper floors; and 2175 JFKennedy Boulevard, a one-story vacant commercial building.

October 28, 2015

Multifamily New York Northeast

GFI Brokers Sale of East Williamsburg Corner Development Site For $5.5M

by Jaime Lackey October 28, 2015

NEW YORK CITY — GFI Realty Services has brokered the $5.5 million sale of 310-312 Graham Avenue, a 5,000-square-foot development site located in the East Williamsburg section of Brooklyn. Max Koshkerman of GFI represented the seller. Moshe Gelbstein and Joseph Landau of GFI represented the buyers. Both the buyers and the seller are local investors. The property includes a two-story mixed-use building, which was delivered vacant to the buyers. The buyer plans to construct a seven-story mixed-use building with 23 apartments, parking and a commercial unit. The site is located on the northeast corner of Graham Avenue and Ainslie Street and has a maximum buildable area of approximately 16,700 square feet including 1,700 square feet of air rights acquired from the adjacent parcel.

October 28, 2015

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