Property Type

M&M Brokers $5.8M Sale of 50,266 SF Retail Property in Massillon, Ohio

by Danielle Everson May 6, 2015

MASSILLON, OHIO — Marcus & Millichap has brokered the $5.8 million sale of Massillon City Center, a 50,266-square-foot retail property located on Lincoln Way West in Massillon. The center is 91 percent occupied. Tenants at the property include Buffalo Wild Wings, Verizon Wireless and Rockne’s. A Bob Evans restaurant is an outparcel at the property. Craig Fuller, Scott Wiles and Erin Patton of Marcus & Millichap’s Cleveland and Columbus offices represented the seller, a private fund, and the buyer, an individual New York-based investor.

May 6, 2015

Illinois Midwest Retail Wisconsin

NAI Hiffman Arranges Five New Leases for Burger King in Wisconsin and Illinois

by Danielle Everson May 6, 2015

MILWAUKEE AND WESTCHESTER, ILL. — NAI Hiffman has arranged five new leases for Burger King in Wisconsin and Illinois. The new leases include four locations in Wisconsin: the northwest corner of 14th and Wells streets in Milwaukee; the southeast corner of North and Prospect avenues in Milwaukee; the southeast corner of Moorland Road and College Avenue in Muskego, Wis.; and the southwest corner of College and Chicago avenues in South Milwaukee. The fifth lease is a co-brand concept with BP Amoco located at the southeast corner of I-290 and Mannheim Road in Westchester. Michael Meksto of NAI Hiffman represented Burger King in the transactions. Over 10 new leases are expected for completion in 2015 across Illinois, Wisconsin and Indiana. Burger King selected Meksto to lead expansion efforts into Michigan, Ohio, Kentucky, Western Iowa and Tennessee.

May 6, 2015

Florida Retail Southeast

CocoWalk Lifestyle Center in Miami Sells for $87.5M

by John Nelson May 6, 2015

MIAMI — CocoWalk, a 198,000-square-foot lifestyle center located in Miami’s Coconut Grove neighborhood, has sold for $87.5 million. The property was constructed in 1990 and is located approximately two miles from the University of Miami. Federal Realty Investment Trust purchased an 80 percent interest in the property. The REIT purchased the stake with local market partners Grass River Property and The Comras Co.

May 6, 2015

Hospitality Louisiana Southeast

Hilton Worldwide Opens DoubleTree by Hilton Lafayette in Louisiana

by John Nelson May 6, 2015

LAFAYETTE, LA. — Hilton Worldwide has opened DoubleTree by Hilton Lafayette, a 15-story, 327-room hotel located at 1521 W. Pinhook Road near downtown Lafayette and three miles from Lafayette Regional Airport. The hotel is located along the banks of the Vermillion River and features a newly updated outdoor pool and sundeck, 24-hour fitness center, 24-hour business center, 22,000 square feet of meeting space and complimentary Wi-Fi. The hotel also features the SoLA Restaurant and Lobby Bar and 337, a bar located on the ground floor of the hotel. The property was formerly a Hilton hotel and has since undergone a $12 million renovation. Garrison Wright Prop Co JV LLC owns the hotel and Hospitality Management Advisors manages the property.

May 6, 2015

Georgia Hospitality Southeast

Hodges Ward Elliott Brokers Sale of Dual-Branded Hotel in Midtown Atlanta

by John Nelson May 6, 2015

ATLANTA — Hodges Ward Elliott has brokered the sale of the dual-branded Hilton Garden Inn/Homewood Suites Atlanta Midtown. The 12-story, 228-room property is located in Atlanta’s Midtown district near I-75/85. The hotel features 136 Hilton Garden Inn rooms, 92 Homewood Suites units, a 24-hour fitness center, two business centers, two breakfast areas, two lobbies and reception desks, the Garden Grill & Bar restaurant and 3,027 square feet of meeting space. Hodges Ward Elliott represented the seller, North Point Hospitality Group Inc., in the transaction. The buyer was Carey Watermark Investors Inc. Crescent Hotels & Resorts will manage the hotel.

May 6, 2015

Industrial New Jersey Northeast

Bussel Realty Brokers Sale of 75,600 SF Distribution Facility in New Jersey

by Amy Works May 6, 2015

ELIZABETH, N.J. — Bussel Realty Corp. has brokered the sale of a distribution facility, located at 502 York St. in Elizabeth. Federal Autocat, which currently leases the property, elected to execute its option to purchase the 75,600-square-foot facility for an undisclosed price. Situated on three acres, the property features 20-foot ceilings, multiple loading docks, one drive-in door, ample power and on-site parking. Jordan Metz of Bussel Realty represented the buyer, while David Blitt, also of BRC, represented the seller, Weisman Family Partnership LLC, in the transaction.

May 6, 2015

New Jersey Northeast Office

Hollister Construction Completes Office Renovation in New Jersey

by Amy Works May 6, 2015

BRIDGEWATER, N.J. — Hollister Construction Services has completed the interior fit-out of a 38,000-square-foot medical office facility, located at 10 Finderne Ave. in Bridgewater, for Insmed Inc. The project involved the renovation of the existing office space, including the full interior demolition and re-construction of three floors, as well as the construction of 3,700 square feet of laboratory space on the third floor and a two-story, standalone mezzanine through the center of the building. The lower section of the mezzanine now features a meeting room with a flat-screen television and game center, including a shuffleboard table, and the middle level features a Tiki hut with a kitchenette, a peanut-shaped island and sitting areas. The project team included Alliances Architecture and AKF Engineers.

May 6, 2015

Connecticut Northeast Retail

Thimble Island Brewing Co. Inks Lease for 30,000 SF Building in Connecticut

by Amy Works May 6, 2015

BRANFORD, CONN. — Thimble Island Brewing Co. (TIBC) has signed a lease for a 30,000-square-foot building, located at 16 Business Park Dr. in Branford. TIBC is expected to open the doors of the newly renovated and expanded facility this summer. Founded in 2012, TIBC now offers several standard varieties on tap at bars and restaurants throughout the Connecticut shoreline, as well as specialty brews in the brewery’s tasting room. Tim McMahon of O,R&L Commercial represented TIBC in the transaction.

May 6, 2015

Industrial Northeast Pennsylvania

Roddy Inc. Brokers 13,500 SF Lease in Bristol, Pennsylvania

by Amy Works May 6, 2015

BRISTOL, PA. — Bensalem, Pa.-based Roddy Inc. represented Salem Steel NA LLC in the lease of 13,500 square feet of space at 2101 Green Lane in Bristol. Salem Steel NA leased the space, which located within the 70,000-square-foot Bristol Commerce Center, from Green Lane Properties LLC. The tenant plans to use the space as a warehouse/distribution center. Sean Durkin of Roddy Inc. represented the tenant, while Andrew McGhee of Colliers International represented the landlord in the transaction.

May 6, 2015

California Hospitality Western

Sunrider International Buys SLS Beverly Hills

by Nellie Day May 6, 2015

LOS ANGELES — Sunrider International has acquired the 297-room SLS Beverly Hills for about $200 million. The hotel is located at 465 S. La Cienega Blvd. The hotel was sold by Sam Nazarian’s SBE, a locally based hospitality company that develops, manages, and operates hotels, restaurants and nightlife venues. SLS Beverly Hills opened in November 2008 as part of the Luxury Collection Hotels & Resorts brand. It was designed by Philippe Starck, and offers a variety of culinary experiences crafted by James Beard award-winning chef Jose Andres. The property has been an AAA Four Diamond Award recipient since 2009. It is managed by Starwood Hotels & Resorts Worldwide. SBE currently has 11 new projects in various stages of development, construction and negotiation, including the recent announcement of five new hotels in Mexico. The new projects include a total of 1,893 hotel rooms and 2,230 residences throughout the world. SBE will remain onboard as the flagship property’s brand operator. The hotel’s ownership group included SBE, the Nazarian family and subsidiaries of SLS Hotels. Sunrider International is a family owned health and beauty company.

May 6, 2015

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