Property Type

Clarion Partners Acquires 294,428-SF Portfolio in San Diego

by Nellie Day August 10, 2015

SAN DIEGO — A comingled fund managed by New York-based Clarion Partners has acquired a 294,428-square-foot portfolio from the McGrath Family located in San Diego. The 29.1-acre portfolio consists of six single-tenant leased retail properties and one retail strip center. At the time of sale, the portfolio was 100 percent occupied by tenants including Walmart, LA Fitness, McDonald’s, Food 4 Less, Starbucks Coffee, Verizon and Chipotle. Randy LaChance and Mark Caston of Voit Real Estate Services represented the seller, and Clarion was self-represented in the transaction.

August 10, 2015

Arizona Retail Western

DTZ Arranges $13.7M Sale of Pioneer Shopping Center

by Nellie Day August 10, 2015

YUMA, ARIZ. — DTZ has arranged the $13.7 million sale of Pioneer Shopping Center, a 140,610-square-foot shopping center located in Yuma. Ryan Schubert, Michael Hackett, Dan Salley and Jack Wilson of DTZ represented the seller, Realty Resolution Advisors LLC, and Sanford Burstyn of Marcus & Millichap represented the buyer, Los Angeles-based Pioneer Shopping Center LLC, in the transaction. Tenants at the center include 99 Cents Only, O’Reilly Auto Parts, Applebee’s, Subway, The UPS Store and Dairy Queen.

August 10, 2015

Florida Industrial Market Reports Southeast Southeast Market Reports

International Trade, Population Growth Allow Miami’s Industrial Market to Thrive

by John Nelson August 10, 2015

Miami, the “Gateway to Latin America and the Caribbean,” boasts one of the strongest industrial markets in the nation, with over 200 million square feet of industrial space serving one of the fastest-growing metropolitan areas in the United States. Stronger-than-average population and employment growth count among the region’s chief demand drivers, along with robust international trade, a booming housing market and a globally acclaimed tourism industry. South Florida’s population is expected to grow by 100,000 people annually over the next five years, while the region also has the fourth-highest job growth rate in the nation. As a result, demand for housing and consumer goods is rising, creating a very dynamic industrial development, leasing and sales environment. Significant and ongoing investment in South Florida’s seaports, airports and intermodal transportation infrastructure is giving investors and businesses confidence in the long-term growth of the region. On the infrastructure front, there is the highly publicized, $2 billion expansion of PortMiami, one of the busiest ports in the U.S. for container traffic. The project includes a deep dredge, the addition of several post-Panamax gantry cranes, an intermodal/freight rail linkage, and a new truck/freight tunnel. Once completed this year, PortMiami will be the only port south …

August 10, 2015

Illinois Loans Midwest Mixed-Use

NorthMarq Capital Secures $13.3M Refinancing Loan for Kingsbury Center in Chicago

by Jonathan Mehall August 7, 2015

CHICAGO — NorthMarq Capital has secured a $13.3 million refinancing loan for the Kingsbury Center, a mixed-used property in Chicago’s River North neighborhood. The 10-year loan includes a 25-year amortization schedule. Sue Blumberg and Eric Kanz of NorthMarq Capital’s Chicago office arranged the financing for the borrower, which includes the Hochberg family, through its correspondent relationship with a life insurance company. The 135,256-square-foot property, located at 344 W. Hubbard St., was 100 percent occupied at the time of sale. Tenants in the Kingsbury Center include Petco, Ace Hardware and CVS as retailers. Related Companies and The Habitat Company hold office space.

August 7, 2015

Midwest Restaurant Retail Wisconsin

Noble Chef Hospitality Opens First Restaurant in Milwaukee at 833 East

by Jonathan Mehall August 7, 2015

MILWAUKEE — Madison-based Noble Chef Hospitality will open its first Milwaukee restaurant, Rare Steakhouse, in Milwaukee’s newest downtown office building, located at 833 E. Michigan St. The white tablecloth steak and seafood restaurant will feature dry-aged Allen Brothers steaks along with more than 400 different wines. Noble Chef Hospitality also operates Rare Steakhouse On the Square in Madison, in addition to four other restaurants and bars in Madison. The 18-floor, 833 East building is expected to be completed by February 2016. Rare is expected to open in early 2016 and will feature seasonal outdoor seating. Josh Minkin of Alpine Commercial Real Estate is serving as procuring broker on the project.

August 7, 2015

Healthcare Midwest Office Ohio

Marcus & Millichap Brokers Sale of Medical Office Building for $4.7M in Perrysburg, Ohio

by Jonathan Mehall August 7, 2015

PERRYSBURG, OHIO — Marcus & Millichap has brokered the sale of a 22,089-square-foot medical office building in Perrysburg, approximately 10 miles south of Toledo. The Starbright Professional Center at 28555 Starbright Blvd. sold for $4.7 million. The office is part of the ProMedica St. Luke’s Hospital Health System. Ryan Moore and Christopher Mitchel of Marcus & Millichap’s Cleveland office represented the seller, a private investor. A limited liability company represented itself as the buyer.

August 7, 2015

Illinois Midwest Multifamily

Essex Realty Arranges Sale of Eight-Unit, Multifamily Building for $1.2M in Chicago

by Jonathan Mehall August 7, 2015

CHICAGO — Essex Realty Group has brokered the $1.2 million sale of an eight-unit multifamily property located at 7410 N. Winchester Ave. in Chicago’s Rogers Park neighborhood. The property is situated one-half mile west of the Chicago Transit Authority’s Howard station and roughly three-quarters of a mile west of the Jarvis station. The multifamily building is less than one mile west of Jarvis Beach and Lake Michigan. Doug Imber & Kate Varde represented the seller and Jim Darrow & Jordan Gottlieb represented the buyer in the transaction.

August 7, 2015

Illinois Midwest Retail

Quantum Real Estate Advisors Brokers $1.08M Sale of 10,650 SF Retail Building in North Aurora, Ill.

by Jonathan Mehall August 7, 2015

NORTH AURORA, ILL. — Quantum Real Estate Advisors has brokered the $1.08 million sale of a 10,650-square-foot retail building located at 451-459 Randall Crossings Lane in North Aurora, about 40 miles west of Chicago. The multi-tenant building is 74 percent occupied by regional tenants Bulldog Ale House and Lover’s Lane. Chad Firsel of Quantum Real Estate Advisors brokered the transaction on behalf of the seller, a pension fund from Dallas, and the buyer, a private real estate investor based in Chicago.

August 7, 2015

Retail Texas

New Tenants Sign on at Castle Hills Village Shops in Metro Dallas

by Haisten Willis August 7, 2015

LEWISVILLE, TEXAS — New tenants have signed on at Castle Hills Village Shops, part of the master-planned Castle Hills community in Lewisville. FroYo Smoo-licious recently opened a 1,026-square-foot store in the Village Shops. Long-time tenant Umi Umi sushi restaurant has moved to a larger space within the shops, adding a hibachi grill to the menu. Re-opening as Kanzi Sushi & Hibachi, the new 2,561-square-foot space added 1,200 square feet to the restaurant, plus a porch for outdoor dining that overlooks Lake Avalon. Kerry Assa of Bright Realty represented the landlord, Bright Realty, in both transactions. Kevin Park, of Coldwell Banker, represented Kanzi Sushi & Hibachi in its upgrade. Sean Conner, who opened PI.E 3.14 Everyday Eatery pizza kitchen in Castle Hills, is opening a second restaurant in the Village Shops. T.B.D. Kitchen is a chef-driven taco concept with craft cocktails that will occupy 1,779 square feet. Conner’s PI.E 3.14, with local chef Brent Hammer, also added more than 200 square feet to its space at the shops. Hammer will also oversee the menu at T.B.D. Kitchen. Assa represented the landlord in these transactions. Al Panigua with Swearingen Realty Group represented the tenant.

August 7, 2015

Office Texas

Newcor Arranges Office Lease in Houston

by Haisten Willis August 7, 2015

HOUSTON — Texoz E&P I, Inc., a subsidiary of Talon Petroleum Limited, has subleased their office space at Three Chasewood in northwest Houston to Huff Energy Holdings. Ryan Dierker with Newcor Commercial Real Estate represented the sublessor, Texoz E&P I, Inc. and the subtenant, Huff Energy Holdings, in the 2,235-square-foot office sublease transaction located at 20405 State Highway 249 in Houston. Newcor is a full-service commercial real estate company headquartered in The Woodlands. With a focus on north Houston and the area around the new Exxon Mobil campus, Newcor is positioned to maximize their clients’ opportunities in and around Houston’s new energy corridor.

August 7, 2015

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