Property Type

HFF Arranges $12.5M Sale of REO Office Park in Metro Miami

by John Nelson July 23, 2015

WEST KENDALL, FLA. — HFF has closed the $12.5 million real estate owned (REO) sale of Lucky Start Executive Plaza, a two-building office park totaling 55,658 square feet at 8765 S.W. 165th Ave. in West Kendall, a suburb of Miami. The office park comprises two office buildings that are 54.1 percent leased to medical and office tenants, as well as a vacant pad site for the future development of a three-story, 89,000-square-foot office building. HFF marketed the property on behalf of a regional bank, which previously purchased the asset in a foreclosure auction. IMC Property Management Inc. was the buyer. Marty Busekrus, Jorge Portela and Manny de Zárraga of HFF brokered the transaction.

July 23, 2015

Florida Mixed-Use Southeast

Colliers Brokers $10.8M Sale of Mixed-Use Asset in Miami’s Wynwood Neighborhood

by John Nelson July 23, 2015

MIAMI — Colliers International has brokered the $10.8 million sale of a former art gallery located at 2534 N. Miami Ave. in Miami’s Wynwood neighborhood. Built in 1950 and formerly housing the Zadok Art Gallery, the two-story, 18,870-square-foot property includes retail space on the ground floor and office space on the second floor. Ivo Tsinev and Achikam Yogev of Colliers International’s South Florida office represented the seller, Zadok Real Estate Holding, in the transaction. Michael Tobin of Rothman & Tobin PA represented the buyer, Badjer LLC, which plans to lease the vacant building for retail use.

July 23, 2015

North Carolina Office Southeast

Lincoln Harris Arranges Two Leases Totaling 62,075 SF at Capitol Towers in Charlotte

by John Nelson July 23, 2015

CHARLOTTE, N.C. — Lincoln Harris’ Charlotte office has arranged two leases totaling 62,075 square feet at Capitol Towers – South Tower, a 236,250-square-foot, Class A office tower located at 4350 Congress St. in Charlotte. Campbell Walker of Lincoln Harris’ Charlotte office represented the landlord, Capitol Towers LLC, in both lease transactions. The deals included Sterling Capital Management LLC leasing 22,075 square feet and Dixon Hughes Goodman LLP leasing 40,000 square feet. Jim Thorp of JLL represented Sterling, and Barney Earles of CBRE represented Dixon Hughes Goodman.

July 23, 2015

Office Southeast Tennessee

Liberty Tower, Law Firm in Chattanooga Earn LEED Gold Certification

by John Nelson July 23, 2015

CHATTANOOGA, TENN. — The U.S. Green Building Council (USGBC) has awarded Liberty Tower, a 214,000-square-foot office building in Chattanooga, LEED Gold certification, making it the largest LEED Gold-certified core and shell project in Tennessee. Additionally, the USGBC has awarded Chambliss, Bahner & Stophel PC LEED Gold certification for its commercial interiors. The company is the only law firm in Tennessee to have earned LEED Gold certification. Chambliss, Bahner & Stophel PC is a tenant at Liberty Tower, making the pair the only project to achieve dual LEED certification in Chattanooga. The law firm’s sustainable features include Energy Star-rated equipment, an open office layout, reuse of 60 percent of its furniture and low VOC paints and carpet tiles. Liberty Tower’s sustainable features include bike racks and showers, new LED light fixtures, low-flow toilets and faucets, solar controlled windows and modern HVAC equipment.

July 23, 2015

Arizona Office Western

Lowe Enterprises Investors Buys Three Buildings at Phoenix Gateway Center

by Nellie Day July 23, 2015

PHOENIX — Lowe Enterprises Investors (LEI) has purchased three office buildings at the Phoenix Gateway Center office complex for an undisclosed sum. The properties are located in the North Airport/44th Street corridor area of Phoenix. The transaction included the 107,755-square-foot Gateway I; the 107,963-square-foot Gateway II; and the 221,885-square-foot Gateway III buildings. LEI plans to improve the properties’ common areas and public spaces. The overall occupancy at the buildings is 94 percent. Peter Morgan led LEI’s acquisition team. CBRE’s Barry Gable and Kevin Shannon represented the seller, a partnership of Pearlmark/Transwestern and Oaktree Capital.

July 23, 2015

California Office Western

West Ridge Rentals Buys Manhattan Beach Medical Office Complex for $15.6M

by Nellie Day July 23, 2015

MANHATTAN BEACH, CALIF. — West Ridge Rentals LLC has purchased a 35,911-square-foot medical office complex in Manhattan Beach for $15.6 million. The three-building complex is located at 500 S. Sepulveda Blvd. The buildings include small retail elements that house related businesses. The complex was built in 1976. Eric Lastition and Geoff Ludwig of Colliers International represented the seller, Manhattan Beach Mall LP.

July 23, 2015

Industrial Western

Pool Corporation Leases Industrial Space in San Bernardino

by Nellie Day July 23, 2015

SAN BERNARDINO, CALIF. — The Pool Corporation has leased a 184,646-square-foot building in San Bernardino. The space is located at 1410 E. Central Ave., within Carson Alliance, a newly developed, two-building industrial park at the Gateway of the Master Alliance of California project. Chris Barbieri of ANR Asset Management and Ron Barbieri of Coldwell Banker Commercial represented Pool Corporation. JLL’s Ruben Goodsell, Peter McWilliams and Mike McCrary represented the landlord, Carson Companies.

July 23, 2015

Colorado Multifamily Western

Denver Apartment Building Sells for $2.8M

by Nellie Day July 23, 2015

DENVER — A local multifamily investor has purchased a 20-unit apartment building in Denver for $2.8 million. The community is located at 833 Dexter St. The new investor also owns a few other properties within the same neighborhood. Matt Lewallan and Kevin Calame of Pinnacle Real Estate Advisors represented the buyer.

July 23, 2015

California Retail Western

Fresh & Easy Relocates Moves Administrative Offices to Torrance

by Nellie Day July 23, 2015

TORRANCE, CALIF. — Grocery chain Fresh & Easy is relocating its executive and administrative hub from El Segundo to nearby Torrance. The hub will be located at 20101 Hamilton Place. NGKF’s David Kluth and Joel Smith negotiated the lease.

July 23, 2015

Hospitality Illinois Midwest

Geller Investment Co. Acquires Waldorf Astoria in Chicago for $111.9M

by Jonathan Mehall July 22, 2015

CHICAGO — Geller Investment Co. has closed on its acquisition of the iconic Waldorf Astoria hotel on Chicago’s Gold Coast. Sam Zell’s Zell Equity Group Investments completed the sale, but will maintain a minority stake in Waldorf. The 189-room hotel at 11 E. Walton St. sold for a record-breaking $111.9 million, according to a Cook County transfer tax form. The purchase equals just over $592,000 per room, well above the previously held record of $505,000 per room paid by Zell for the Elysian hotel. Geller plans to add 26 hotel rooms in the 60-story tower, which also features 52 private residences. The new owners also plan changes to the hotel’s food, drink and public areas.

July 22, 2015

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