Property Type

Berkshire Group Acquires 153-Unit Apartment Complex in Nashville

by Christina Cannon November 6, 2015

NASHVILLE, TENN. — An affiliate of Berkshire Group has acquired a 153-unit apartment complex in Nashville. Artisan on 18th is a Class A community that was purchased for an undisclosed price. The complex is located in the Music Row neighborhood and is close to Vanderbilt University, the Medical District, the Tennessee State Museum, Bridgestone Arena and Honkey Tonk Row. The asset is a five-story, wood-frame building. Community amenities include two outdoor courtyards, grills, fire pits, a resident lounge, business center, television room, fitness center and bike storage. Stonehenge Real Estate Group developed and sold the property. Berkshire Communities will manage the property.

November 6, 2015

Florida Office Southeast

Binswanger-Gateway Completes 20,600 SF Office Lease in Miami

by Christina Cannon November 6, 2015

MIAMI, FLA. — Binswanger-Gateway has arranged a 20,600-square-foot office lease for Compass, a residential real estate brokerage firm. Compass will occupy the penthouse in the Art Deco building, located at 605 Lincoln Road in Miami Beach, for 10 years. The historic 72,000-square-foot building was constructed in 1936 by architect Robert E. Collins and was the former home of Sony Music. Pedro Garcia and Zach Binswanger of Binswanger-Gateway brokered the transaction. Lincoln Road Penthouse LLP is the landlord and was represented by Gordon Messinger of Cushman & Wakefield.

November 6, 2015

Midwest Missouri Office

Rabo Agrifinance Signs Lease to Occupy 62,500 SF of Office Space at Delmar Gardens III Near St. Louis

by Christina Cannon November 6, 2015

CHESTERFIELD, MO. — Rabo AgriFinance has signed a lease to occupy 62,500 square feet of office space at Delmar Gardens III in Chesterfield, Mo., once the building is completed in the summer of 2017. The five-story, 125,000-square-foot Class A office building is currently under construction along I-64/Highway 40 in the heart of St. Louis County. Delmar Gardens III is the first Class A, multitenant office building to be constructed in West St. Louis County since 2008. Rabo AgriFinance, a financial services provider for agricultural producers and agribusinesses, will relocate its headquarters from Creve Coeur Pointe to Delmar Gardens III. The building will include a fitness center, café and free covered garage parking. David Kelpe and Hassan Jadali of Cushman & Wakefield represented Delmar Gardens, the building owner, in the transaction. Kevin Bittmann of CBRE represented Rabo AgriFinance.

November 6, 2015

Midwest Ohio Retail

Marcus & Millichap Brokers $2.7M Sale of Net-Leased Retail Property South of Dayton

by Christina Cannon November 6, 2015

CENTERVILLE, OHIO — Marcus & Millichap has brokered the sale of a 19,722-square-foot retail property in Centerville, a southern suburb of Dayton, for $2.7 million. Cross Pointe IV is located at 199 E. Alex Bell Road and is fully occupied. Tenants include Firestone and AT&T. The property is an outparcel to a larger retail center that is anchored by Marshalls, Earth Fare, Petco and Bed Bath & Beyond. C.J. Jackson, Erin Patton, Scott Wiles and Craig Fuller of Marcus & Millichap represented the seller, a private investor. The team also secured and represented the buyer, an out-of-state private investor.

November 6, 2015

Illinois Midwest Retail

Boulder Group Arranges $2.1M Sale of Net Leased Property in Round Lake Beach, Illinois

by Christina Cannon November 6, 2015

ROUND LAKE BEACH, ILL. — The Boulder Group has completed the sale of a retail building in Round Lake Beach, about 50 miles northwest of Chicago, for $2.1 million. The two-tenant, net leased building is located at 418-20 E. Rollins Road. Tenants at the retail property include Heartland Dental and AT&T, each of which has a 10-year lease. The buyer was a private partnership in a 1031 exchange, and the seller was a Midwest-based real estate development company. Randy Blankstein and Jimmy Goodman of The Boulder Group represented both undisclosed parties.

November 6, 2015

Midwest Missouri Retail

Sansone Group Breaks Ground on 4,345 SF Retail Center in St. Louis Suburb

by Christina Cannon November 6, 2015

SUNSET HILLS, MO. — Sansone Group has purchased a property formerly occupied by Sanders Automotive in Sunset Hills, a southwest suburb of St. Louis, for an undisclosed price. The seller was Gene Sanders Inc. The building on the site, located at 10775 Watson Road, is being torn down and will be redeveloped as a 4,345-square-foot retail center. Watson Plaza will feature a 1,650-sqare-foot Starbucks and a 2,695-square-foot Mattress Direct. Construction costs are estimated to be $2.5 million. Construction has already begun, and both stores are slated to open in the summer of 2016.

November 6, 2015

Industrial Midwest Wisconsin

Dickman Co./CORFAC Arranges Sale of 17,020 SF Industrial Property in Wisconsin

by Christina Cannon November 6, 2015

HUSTISFORD, WIS. — The Dickman Company Inc./CORFAC International has arranged the sale of a 17,020-square-foot industrial building in Hustisford, approximately 53 miles northwest of Milwaukee The facility is located at 424-434 E. Rubicon St. Del Oak Holdings LLC purchased the building from Lonann Investments LLC for an undisclosed price. Nick Keys and Anthony Huenerbein of The Dickman Co. represented the seller, and Christine Huber of Belman Homes LLC represented the buyer.

November 6, 2015

California Hospitality Western

Kumeyaay Indians Open $50M Hotel Tower at Viejas Casino and Resort in San Diego

by Nellie Day November 5, 2015

SAN DIEGO — The Viejas Band of Kumeyaay Indians has opened a new $50 million hotel tower at the Viejas Casino and Resort in the eastern San Diego County submarket of Alpine. The 109-room tower includes a top-floor technology suite, as well as an additional gaming floor, specialty bar, ballroom, meeting and board rooms, resort-style pool, and extensive multi-use grounds. Construction on the tower began in June 2014. An existing administration building was demolished and the site was reconfigured prior to construction commencing. Swinerton Builders built the four-star resort project, which JCJ Architecture designed. Xpera CM managed the design and construction.

November 5, 2015

Colorado Multifamily Western

Bascom Group, Oaktree Capital Purchase Axis at Nine Mile Station Apartments in Denver for $50M

by Nellie Day November 5, 2015

DENVER — A joint venture between the Bascom Group and funds managed by Oaktree Capital Management have purchased the 336-unit Axis at Nine Mile Station for $50 million. The community is located at 3257 S. Park Road. The property was built in 1980. It is situated adjacent to the Blue Line Light Rail, which will provide access to the Denver Tech Center Business Corridor, downtown Denver and Denver International Airport once it opens next spring. CBRE’s Brian Eisendrath and Annie Rice sourced the debt financing, which was provided by Mesa West Capital. Terrance Hunt and Jeff Hawks of ARA Newmark represented the seller.

November 5, 2015

California Office Western

Est4te Four Buys Los Angeles Office Building for $21.6M

by Nellie Day November 5, 2015

LOS ANGELES — Est4te Four has purchased a 44,547-square-foot office building in Los Angeles for $21.6 million. The building is located at 929 East 2nd St. The acquisition includes additional land for development. Est4te Four plans to add more floors on top of the existing structure so it can redevelop the space into a hub with a retail component for the creative industry. The redevelopment is scheduled to commence next year.

November 5, 2015

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