Property Type

Capstone Brokers $5.2M Sale of Multifamily Development Site in Metro Charlotte

by John Nelson November 25, 2015

CORNELIUS, N.C. — Capstone Apartment Partners has brokered the $5.2 million sale of a multifamily development site in Cornelius. The site is approved for a 320-unit development. Located at Catawba Avenue and Lawn Market Street, the site was part of Antiquity, a mixed-use community featuring a Harris Teeter store, seniors housing, retail, restaurants and single-family homes. The development site features a swimming pool, 30-acre park, arboretum and athletic fields. Antiquity LLC sold the site to SAG/LIV Development for $16,250 per unit. Austin Green, Alex McDermott, Andrew Klenk and Brian Ford of Capstone brokered the transaction.

November 25, 2015

Retail Texas

Pierson Retail Advisors Arranges Sale of Main Street Center in Frisco

by Haisten Willis November 25, 2015

FRISCO, TEXAS — Pierson Retail Advisors (PRA) has arranged the sale of Main Street Center, a 53,207-square-foot shopping center located in Frisco. The retail center is 98.8 percent leased to tenants including Subway, Pizza Hut, Kelly-Moore Paints, State Farm and Texas Family Fitness. PRA represented the seller, Bo Avery, Main FM 423 LLC. Bill Morris of Morris Capital Partners, along with Terry Syler of The Retail Connection, purchased the asset. The entire team at Pierson Retail Advisors in Dallas handled the sale.

November 25, 2015

Connecticut Industrial Northeast

Fischer Real Estate Arranges $2.6M Sale of 14.4-Acre Land Parcel in Milford, Conn.

by Amy Works November 25, 2015

MILFORD, CONN. — A New York-based manufacturing company has acquired a 14.4-acre land parcel at 539 Oronoque Road in Milford. Arrow Realty LLC sold the property for $2.6 million. The buyer plans to renovate and add on to an existing 23,250-square-foot building and construct at least two industrial buildings to accommodate its growing business. Alan Fischer of Fischer Real Estate Inc. represented the seller and buyer in the transaction.

November 25, 2015

Illinois Loans Midwest Multifamily Seniors Housing

Love Funding Secures $11.3M Bridge Loan for Seniors Housing Community

by Christina Cannon November 25, 2015

CARBONDALE, ILL. — Love Funding, a lender specializing in HUD loans, has closed an $11.3 million bridge loan for Landings of Carbondale, a 92-unit assisted living and memory care community under development in the southern Illinois city of Carbondale. The loan will fund the transition from construction to permanent financing. Landings of Carbondale will be built on a 6.5-acre site on the northeast side of Carbondale. Fricke Management is developing the site, which The Landings of Carbondale LLC will own. Once completed, Revere Healthcare will operate the community. Love Funding’s Robyn Cunningham, senior director, and Adrian Hartman, director, secured the financing through Midland States Bank.

November 25, 2015

Illinois Industrial Midwest

Darwin Realty Brokers Sale of 42,000 SF Industrial Property in Elgin, Illinois

by Christina Cannon November 25, 2015

ELGIN, ILL. — Darwin Realty has brokered the sale of a 42,000-square-foot industrial property for an undisclosed price in Elgin, approximately 40 miles northwest of Chicago. First Community Bank sold the building to Simplomatic Manufacturing, which is relocating from a site on Kostner Avenue in Chicago. The 42,000-square-foot building sits on 3.3 acres and features 7,500 square feet of office space, 20-foot clear heights, four exterior dock doors, two drive-in doors and expandable parking. Noel Liston and Brendan Sheahan of Darwin Realty represented First Community Bank in the transaction. Ed Brandt of Transwestern represented the buyer, Simplomatic.

November 25, 2015

Illinois Industrial Midwest Office

Entre Commercial Realty Arranges 51,211 SF Lease of Flex Space in Mount Prospect, Illinois

by Christina Cannon November 25, 2015

MOUNT PROSPECT, ILL. — Entre Commercial Realty LLC has arranged a 51,211-square-foot lease of flex space in Mount Prospect, approximately 25 miles northwest of Chicago. Novomatic Americas Sales, a manufacturer and distributer of casino gaming machines, is leasing the property located at 1050 E. Business Center Drive. The lease term is for three years. The building will be the site of Novomatic’s corporate headquarters and features 15,000 square feet of office space. Mike DeSerto, Dan Benassi and Dan Jones of Entre Commercial represented the tenant in the transaction. Kelly Joyce and Jonathan Kohn of Colliers represented the landlord, Colony Capital Inc.

November 25, 2015

Loans Michigan Midwest Multifamily

Bernard Financial Originates $10M Loan for Two Multifamily Properties

by Christina Cannon November 25, 2015

BATTLE CREEK, MICH. — Bernard Financial Group has completed a $10 million loan for River Apartments and River Oaks Apartments located in Battle Creek. There are 288 units between the two properties. BC River Oaks Apartments LLC is the borrowing entity. Kevin Kovachevich of Bernard Financial originated the loan through a CMBS lender. River Apartments is a five-building, 120-unit property that was built in 1980. River Oaks Apartments is a seven-building, 168-unit complex that was built in 1976.

November 25, 2015

Illinois Industrial Midwest

Paine/Wetzel TNC Worldwide Arranges 30,000 SF Industrial Lease in Chicago Suburb

by Christina Cannon November 25, 2015

BEDFORD PARK, ILL. — Paine/Wetzel TNC Worldwide has arranged the 30,000-sqaure-foot industrial lease of a property located in Bedford Park, a southwestern suburb of Chicago. Midway Windows and Doors Inc. will lease the space at 5321 W. 65th St. Bill Kerrins of Paine/Wetzel TNC Worldwide represented the tenant in the transaction. Phil Mumford represented 5321 W. 65th LLC.

November 25, 2015

Loans Mixed-Use Multifamily New York Northeast Office Retail

Related Cos., Oxford Properties Close on $1.3B in Financing for 15 Hudson Yards

by Amy Works November 24, 2015

NEW YORK CITY — Related Companies and Oxford Properties Group have closed on $1.3 billion in financing to fund 15 Hudson Yards, the first residential tower at the 28-acre Hudson Yards mixed-use development on Manhattan’s West Side. Already under construction, the building contains both rental and condominium apartments. The 960,000-square-foot building will be completed in 2018, and sales are expected to begin in mid-2016. Designed by Diller Scofidio + Renfro and Rockwell Group to obtain LEED Gold certification, 15 Hudson Yards will be 910 feet tall and will include 285 for-sale residences throughout its 70 stories, as well as 106 rental units. The property will offer unobstructed views of the city and Hudson River. Hudson Yards is being developed by Related Cos. and Oxford Properties Group and will include 17 million square feet of commercial and residential space, more than 100 shops and restaurants, including the first Neiman Marcus in New York City, approximately 5,000 residences, 14 acres of public open space, a new 750-seat public school and a 200-room, Equinox-branded luxury hotel. 15 Hudson Yards will have frontage on the newly created plaza at the center of Hudson Yards and is also adjacent to the …

November 24, 2015

Industrial Mixed-Use New York Northeast Office Retail

Heritage Equity Partners, Lichtenstein Group to Redevelop Five Warehouses in Brooklyn

by Amy Works November 24, 2015

NEW YORK CITY — Heritage Equity Partners and Lichtenstein Group have partnered to redevelop five vacant warehouses into Bushwick Generator. The interconnected buildings at 215 Moore St. in Brooklyn will be transformed into a 75,000-square-foot light industrial, office and retail property, offering space office or workspaces ranging from 1,500 square feet to 20,000 square feet. Brooklyn-based ABS Partners has been retained as the office leasing agent for the property, which is geared toward new economy industries, including tech, creative arts and food production.

November 24, 2015

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