Property Type

Molina Healthcare Leases Space at One World Trade Center in Long Beach

by Nellie Day October 6, 2015

LONG BEACH, CALIF. — Molina Healthcare has leased 73,486 square feet of office space at One World Trade Center in Downtown Long Beach. The facility will serve as an expansion for the company’s corporate headquarters, which is located across the street. Damion McKinney and Jamie Keller of McKinney Advisory Group represented Molina in the lease. JLL’s Steve Solomon, Jason Fine and Kristen Bowman, along with CBRE’s Dave Smith represented the landlords, Greenlaw Partners, Walton St. Capital and Stillwater Investment Group.

October 6, 2015

Multifamily New York Northeast

Manhattan’s Gramercy Court Sells for $32.5M

by Amy Works October 6, 2015

NEW YORK CITY — An undisclosed buyer has acquired Gramercy Court, a residential property located at 152-156 E. 22nd St. in Manhattan, for $32.5 million. Built in 1908, the property features 43 residential units, ranging from studio to five-bedroom units; 1,390 square feet of retail space; and 18,337 square feet of air rights. Jeff Julien, Rob Hinckley and Cindy True of HFF represented the seller, 152-156 East 22nd Street LLC, a private family, in the transaction.

October 6, 2015

Connecticut Loans Multifamily Northeast

CBRE/NE Secures $5.5M Loan for Multifamily Property Acquisition

by Amy Works October 6, 2015

HARTFORD, CONN. — CBRE/New England’s Multifamily Debt & Structured Finance Group has secured $5.5 million in financing for the $6.9 million acquisition of 184 Washington Street, a multifamily property in Hartford. Premier Properties West, an affiliate of BrickPoint Capital, acquired the property, which is also known as Lafayette Arms. Developed in 1968, the property has undergone numerous amenity and unit renovations. Each of the 136 apartment units features a galley-style or open kitchen, a living room and bedrooms with carpeted floors. John Kelly and Sam Dylag of CBRE/NE arranged the 10-year, non-recourse acquisition loan for the undisclosed borrower through a Connecticut-based bank.

October 6, 2015

New Jersey Northeast Retail

Weiss Realty Co. Secures Long-Term Lease for CVS/pharmacy in Berkeley Heights, N.J.

by Amy Works October 6, 2015

BERKELEY HEIGHTS, N.J. — Weiss Realty Co. has arranged a long-term, 25-year ground lease for CVS/pharmacy at Berkeley Heights Shopping Center in Berkeley Heights. Located at 400 Springfield Ave., the new 13,000-square-foot property features a drive-thru pharmacy and is situated on 1.2 acres at the entrance to the 62,000-square-foot shopping center. Weiss Realty Co. represented the developer, First Hartford Realty Corp. and the landlord, Berkeley Development Co., in the lease transaction.

October 6, 2015

Loans Multifamily Retail Texas

BMC Capital Arranges Trio of Loans in Metro Dallas

by Haisten Willis October 6, 2015

GRANBURY AND PLANO, TEXAS — BMC Capital’s Dallas office has arranged a trio of loans in the metro Dallas cities of Granbury and Plano. Brian Gramlich of BMC arranged all three transactions, and all were arranged through one of BMC Capital’s correspondent banking relationships. In the first transaction, BMC arranged a $662,500 purchase loan for an apartment property located in Granbury. The loan featured a five-year fixed term with a 4.5 percent fixed interest rate and a 30-year amortization schedule. In the second transaction, BMC arranged a $6.1 million purchase loan for an apartment property in Plano. The loan featured a six-year fixed term with a fixed 4 percent interest rate and a 30-year amortization schedule. In the third transaction, BMC arranged a $1.9 million purchase loan for a Sherwin Williams multi-tenant property in Plano. The loan featured a five-year fixed term with a fixed 4 percent interest rate and a 25-year amortization schedule.

October 6, 2015

Connecticut Northeast Office

Trevor Davis Commercial Real Estate Arranges Four Leases at Middletown Business Park

by Amy Works October 6, 2015

MIDDLETOWN, CONN. — Trevor Davis Commercial Real Estate LLC has arranged four leases at Middletown Business Park in Middletown. New Tech Installation leased 3,171 square feet; the State of Connecticut Department of Administrative Services, Department of Rehabilitation Services inked a deal for 1,340 square feet; UBTS leased 583 square feet; and A&B Home Health Care will occupy 411 square feet. The landlord is BostonMiddletown LLC. Trevor Davis of Trevor Davis Commercial was the sole broker in the transactions. The 75,000-square-foot office and light industrial park is now 85 percent occupied.

October 6, 2015

Northeast Office Vermont

Nedde Real Estate Brokers 9,025 SF Office Lease in Vermont

by Amy Works October 6, 2015

WILLISTON, VT. — Nedde Real Estate has brokered an office lease in the Hillside East subdivision of Williston. Cognizant Technology Solutions has inked a deal to occupy 9,025 square feet of office space at the property. Grant Butterfield of Nedde Real Estate represented Cognizant in the transaction. Cognizant is an American multinational corporation that provides custom information technology, consulting and business process outsourcing services. Terms of the lease and the name of the landlord were not released.

October 6, 2015

Broadstone Plantation Alliance Residential

Florida Multifamily Southeast

Alliance Residential to Build Multifamily Community in South Florida

by John Nelson October 6, 2015

PLANTATION, FLA. — Alliance Residential Co. has purchased a 12-acre parcel of land located at 6901 W. Sunrise Blvd. in Plantation, roughly 30 miles north of Miami, for $7.5 million. The Phoenix-based developer plans to build a 250-unit apartment community tentatively named Broadstone Plantation at the site. The lakefront property will feature a community clubhouse, pool, fitness center and dog park. Steve Hyatt of Berger Commercial Realty represented Alliance in the land transaction. The seller was William Murphy of Sunrise Properties and Investments #14 LLC. Hyatt also represented Alliance in its $22.1 million purchase of a 4.3-acre parcel in Fort Lauderdale, where the developer will build the 394-unit Broadstone Harbor Beach.

October 6, 2015

Multifamily Southeast Virginia

Monogram Residential Opens Apartment Community in Northern Virginia

by John Nelson October 6, 2015

TYSONS CORNER, VA. — Multifamily owner Monogram Residential Trust Inc. has opened Nouvelle, a 461-unit apartment community located in Tysons Corner, a northern Virginia suburb within the Washington, D.C., metro area. The 27-story property features 7,000 square feet of street-level retail space, a fitness center, on-site concierge, conference rooms, business center, theater, covered parking, open-air heated swimming pool, cabana lounge, landscaped gardens and an outdoor fireplace. The property’s interiors have floor-to-ceiling windows, hardwood floors, built-in desk and book shelves, Whirlpool washer and dryer units, walk-in closets, balconies and marble backsplashes. Hanover developed the LEED Silver-certified project, which is located within walking distance of the new Silver Line Station. Monogram and Monogram Residential Master Partnership I LP, a joint venture between Monogram and PGGM Private Real Estate Fund, a real estate investment vehicle for Dutch pension funds, provided equity financing for the development.

October 6, 2015

Spring Arbor of Salisbury Memory Care Midlothian

Seniors Housing Southeast Virginia

HHHunt Breaks Ground on New Memory Care Community in Virginia

by John Nelson October 6, 2015

MIDLOTHIAN, VA. — Blacksburg, Va.-based developer HHHunt has broken ground on Spring Arbor of Salisbury Memory Care in Midlothian, about 15 miles west of Richmond. The memory care community will occupy a 48,275-square-foot building adjacent to Spring Arbor of Salisbury, one of HHHunt’s six existing senior living communities in Virginia. HHHunt expects to open the community in the fall of 2016. HHHunt currently owns and manages 21 communities in Virginia, North Carolina and Maryland, with more in various stages of development.

October 6, 2015

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