Property Type

HighStreet Net Lease Group Arranges Sale of Mixed-Use Building in Downtown Houston

by Haisten Willis October 12, 2015

HOUSTON — HighStreet Net Lease Group, a Texas-based company specializing in the sale and acquisition of net leased investment properties, represented a Houston-based investor in the acquisition of a three-story office complex with retail on the ground floor. The 14,400-square-foot mixed-use building is located at 1305 Prairie St. in downtown Houston. Matt Moake of HighStreet represented the buyer. Fred Ghabriel of Bejjani & Associates represented the seller, a local partnership that owned the property for 30 years. The historic building was constructed in 1920 and was once the site of General Sam Houston’s home. The new owner plans to renovate the interior and exterior of the property. The property includes a surface parking lot.

October 12, 2015

Office Texas

NAI Robert Lynn Arranges Sale of Office Building in Dallas Design District

by Haisten Willis October 12, 2015

DALLAS — NAI Robert Lynn represented JQ, a Texas-based structural and civil engineering firm, in the company’s move to the Dallas Design District. Last month, Commerce Street Partners and Commerce Street 2104 Partners, the real estate affiliates of JQ, sold their offices at 2105 Commerce St., a 13,500-square-foot building. JQ’s new offices at 100 Glass St. are being renovated and will provide more than double the space. The 31,000-square-foot building is located at the southeast corner of Levee and Glass streets. Merriman Associates/Architects Inc. is designing the interior of JQ’s new headquarters building. Nearly 100 employees will be moving to the new location before the end of the year. Sam Hocker and Jayson Montoya of the NAI Robert Lynn office division represented JQ in the sale of the firm’s downtown holdings and the purchase of 100 Glass St.

October 12, 2015

Retail Texas

Hunington Properties Arranges Sale-Leaseback of Burger King Restaurant in San Antonio

by Haisten Willis October 12, 2015

SAN ANTONIO — Hunington Properties has arranged the sale-leaseback of a 2,500-square-foot Burger King restaurant located at 7997 Bandera Road in San Antonio. The property is located on the hard corner of Bandera Road and Mainland Drive. The tenant, a franchisee and 30-year veteran of the Burger King system, leased the property back on a long-term, triple net basis. Edward Benton and Todd Carlson with Hunington Properties represented the seller.

October 12, 2015

Midwest Office Ohio

Marcus & Millichap Brokers $3.8M Sale of 19,910 SF Medical Office Property in Suburban Columbus

by Christina Cannon October 12, 2015

GAHANNA, OHIO — Marcus & Millichap has arranged the sale of a 19,910-square-foot medical office property in Gahanna, a Columbus suburb. The Stonybrook Medical Center sold for $3.8 million. John P. Reehil of Marcus & Millichap represented the undisclosed seller. Michael Barron, Dan Burkons, Josh Wintermute, Richard Lattro and Jordan Marshall represented the undisclosed buyer. The property, located at 5175 Morse Road, is 77 percent occupied. Tenants include Ohio State University Otolaryngology, COPCP, Smith Facial Plastics and Advanced Dental.

October 12, 2015

Loans Midwest Nebraska Retail

Q10 | Daisley Ruff Financial Corp. Arranges $2.5M Refinancing for Retail Center in Lincoln, Neb.

by Christina Cannon October 12, 2015

LINCOLN, NEB. — Q10 | Daisley Ruff Financial Corp. has arranged a $2.5 million refinancing loan for Meadowlane Shopping Center in Lincoln. The property consists of a 34,600-square-foot retail strip center, a 6,000-square-foot freestanding retail building and a 27,389-square-foot mixed-use building. Ace Hardware anchors the strip center. Other tenants of the strip center include Honest Abe’s, Great Wall, The Fit Canine and Slideware Electronics. Subway and One More Bar are the tenants in the freestanding building. Steve Ruff and Eric Petersen of Q10 | Daisley Ruff Financial Corp. arranged the transaction. The long-term, fixed-rate loan is fully amortizing. The lender, borrower and all other details of the transaction were undisclosed.

October 12, 2015

Illinois Midwest Office

Sterling Bay to Develop 207,000 SF Office Build-to-Suit in Chicago for C.H. Robinson

by Christina Cannon October 12, 2015

CHICAGO — Sterling Bay has unveiled plans to develop a 207,000-square-foot office building in Chicago. The build-to-suit property is located at 1511 W. Webster in the Lincoln Park neighborhood. Sterling Bay acquired the 4.1-acre site earlier this year and will be the developer and manager of the property. The three-story building will become the new headquarters for C.H. Robinson, which has signed a 15-year lease for the entire property. The relocation will provide C.H. Robinson, the largest logistics company in Chicago, with 47,000 more square feet than it occupies in its current lease at 1840 N. Marcey St. Occupancy is slated for late 2018.

October 12, 2015

Industrial Midwest Wisconsin

The Dickman Co./CORFAC International Arranges Sale of 74,600 SF Industrial Property in Waukesha, Wis.

by Christina Cannon October 12, 2015

WAUKESHA, WIS. — The Dickman Company Inc. / CORFAC International has brokered the sale of a 74,600-square-foot industrial property for an undisclosed price. The building is located at 809 Philip Drive in Waukesha, approximately 20 miles west of Milwaukee. JDS Leasing LLC sold the building to GRE-Milwaukee LLC for an undisclosed price. Samuel Dickman, Samuel Dickman Jr. and Zach Noble of The Dickman Co. represented the buyer. Roger Siegel of JLL represented the seller.

October 12, 2015

Illinois Midwest Retail

Cooper Commercial Brokers $5.1M Sale of 60,392 SF Retail Facility in Chicago Suburb

by Christina Cannon October 12, 2015

MIDLOTHIAN, ILL. — Cooper Commercial Investment Group has brokered the sale of a 60,392-square-foot retail center located in Midlothian, a suburb 20 miles southwest of downtown Chicago. The multi-tenant Mid Oak Shopping Center sold for $5.1 million. The facility is anchored by Charter Fitness and shadow anchored by Walgreens. Dan Cooper of Cooper Commercial Investment represented the undisclosed seller. The buyer was also undisclosed. Mid Oak Shopping Center was 74 percent occupied at the time of sale.

October 12, 2015

Mixed-Use Multifamily New York Northeast Restaurant Retail

Cushman & Wakefield Brokers $30M Sale of Mixed-Use Property in Manhattan

by Amy Works October 12, 2015

NEW YORK CITY — Cushman & Wakefield has brokered the sale of a mixed-use loft building located at 9 E. 16th St. in the Ladies’ Mile Historic District of Manhattan. The seven-story, elevator-serviced building sold for $30 million, or $978 per square foot. The 30,680-square-foot property features 15 large loft units, of which 12 are fair market and three are rent stabilized, and one ground-floor commercial unit, which is currently occupied by a restaurant. Paul Smadbeck, John Ciraulo, Rob Stufano and Craig Waggner of Cushman & Wakefield brokered the all-cash transaction. The names of the seller and buyer were not released.

October 12, 2015

Multifamily New York Northeast

GFI Arranges $12M Sale of Brooklyn Apartment Building

by Amy Works October 12, 2015

NEW YORK CITY — GFI Realty Services has arranged the sale of a multifamily property located at 477 Third St. in Brooklyn’s Park Slope neighborhood. The 20-unit apartment building sold for $12 million, or $818 per square foot. The five-story walk-up features a mix of one- and two-bedroom units, as well as on-site laundry facilities. The buyer, a multi-generational local investor, plans to implement improvements to the property and maintain it as a long-term rental building. Erik Yankelovich of GFI Realty represented the undisclosed seller, while Moshe Gelbstein, also of GFI Realty, represented the buyer in the transaction.

October 12, 2015

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