RALEIGH, N.C. — Sperry Van Ness International Corp. has joined forces with Raleigh, N.C.-based Howard Perry and Walston Commercial and Hotel Group (HPW Commercial and Hotel Group) to launch SVN Hotels, a national hotel brokerage franchise. Headquartered in Raleigh, the franchise will work with more than 25 advisors in more than 10 offices throughout the United States. SVN Hotels will specialize in working with owners and investors of all sizes from large institutions with multiple properties to private owners with single assets. Sanjay Mundra, who currently serves as CEO of HPW Commercial and Hotel Group, will serve as CEO of the SVN Hotels brand with Don Walston as chairman.
MINNEAPOLIS — Cushman & Wakefield/NorthMarq has brokered a lease extension for Lindquist & Vennum LLP. The property is located at the IDS Center in Minneapolis, and the company has leased the space since it became available 43 years ago. Lindquist & Vennum, a law firm, plans to downsize and relocate its 300 attorneys and staff personel within the Minneapolis Landmark Office Tower. For the past 43 years, the company has occupied space on floors 40 through 44 that has totaled 120,000 square feet. The lease renewal is for 81,000 square feet on floors 18 through 21. The lease renewal is good through 2032. Paul Donovan, Brent Erickson and Jaclyn May of Cushman & Wakefield/Northmarq represented Lindquist. Brent Robertson, Jon Dahl and Sam McGuire of JLL represented the IDS Center. Greiner Construction built the property, and Yellow Dog Studio was the architect. The Minneapolis Landmark Office Tower was constructed in a zig-zag design that allows there to be 32 corner offices on each floor instead of the typical four.
GARFIELD HEIGHTS, OHIO — Lancaster Pollard has provided a $17 million FHA refinance for The Village at Marymount, a nonprofit continuing care retirement community (CCRC) affiliated with the Sisters of St. Joseph of the Third Order of St. Francis. The community is located in Garfield Heights, a suburb of Cleveland. The CCRC consists of Villa St. Joseph (a 102-bed skilled nursing and 12-bed memory care facility), Marymount Place (a 104-unit assisted living facility) and Clare Hall (a long-term care facility that includes a newly renovated 10-bed inpatient hospital unit). The loan carries a 35-year term, is nonrecourse, has no financial covenants, and provides for approximately $171,000 in annual debt service savings as well as nearly $75,000 for repairs and improvements. Kass Matt led the transaction for Lancaster Pollard.
PLAINFIELD, IND. — JLL has brokered the lease of 321,627 square feet in the Indianapolis market for OHL, one of the largest 3PL companies in the world. The property is located at 1251 S. Perry Road in Plainfield, which is 15 miles outside of Indianapolis. The new lease brings OHL’s footprint in that market to more than 3 million square feet. Steve Schwegman and Matt Dickerson of JLL represented the landlord, KBS Realty Advisors. Jess Andrews, Andrea Morris and Steve Schegman of JLL, along with ProVenture and CBRE, represented OHL. The building features include a “cross dock” layout, 36-foot clear height, a climate-controlled warehouse, secured truck courts and abundant parking. Ingram Micro formerly leased the building.
BROOKFIELD, MADISON, AND OAK CREEK, WIS. — Colliers International has brokered the lease of 53,904 square feet of space in Wisconsin. Alberts Investment Management Inc. has renewed its 1,540-square-foot lease of office space at Squires II located at 16655 W. Bluemound Road in Brookfield, which is 10 miles west of Milwaukee. Sal Strehlow and Matt Fahey of Colliers International brokered the deal. Memorial Care Center LLC has leased 1,800 square feet of office space at 2830 Dryden Drive in Madison. Brian McClaren and Jim Larkin of Colliers International brokered the deal. SEKO Worldwide has leased 50,564 square feet of industrial space at 10020 S. Reinhardt Drive in Oak Creek, which is approximately 12 miles south of Milwaukee. Tom Shepard of Colliers International brokered the deal.
WALTHAM, MASS. — Holliday Fenoglio Fowler (HFF) has secured $74.2 million in first mortgage financing for a lab/biotech facility located at 830 Winter St. in Waltham, a western suburb of Boston. HFF arranged the floating-rate loan with Wells Fargo while working on behalf of the borrower, a joint venture between King Street Properties and an affiliate of Carlyle Realty Partners VII. Completed in 2001, the 182,104-square-foot facility is fully leased to ImmunoGen, GlaxoSmithKline and Histogenics Corp. Greg LaBine of HFF represented the borrower in the financing transaction.
MIDDLEBOROUGH, MASS. — Calare Properties has acquired three industrial properties located within the Campanelli Business Park in Middleborough for $25.3 million from Campanelli. Totaling 273,000 square feet, the portfolio includes 16 Leona Drive, 19 Leona Drive and 139 Campanelli Drive. The 80,000-square-foot property at 16 Leona Drive features 21-foot clear heights and is 100 percent leased to IDEX Health & Science. The 108,000-square-foot facility at 19 Leona Drive is fully occupied by Sager Electronics, a subsidiary of TTI Inc., a Berkshire Hathaway Inc. company. Finally, the 85,000-square-foot property at 139 Campanelli Drive is 100 percent leased to Stop & Shop Supermarket.
LONG ISLAND AND DIX HILLS, N.Y. — NorthMarq Capital has arranged $12.9 million in financing for a four-property retail portfolio in Suffolk County, Long Island, and a retail plaza in Dix Hills. In the first transaction, the four-property portfolio in Suffolk County was refinanced for $4.4 million. The portfolio contains a combined 131,500 square feet of retail space. NorthMarq arranged a fully amortizing 18-year loan through its correspondent relationship with a life insurance company. In the second transaction, the company arranged $8.5 million in refinancing for Dix Hills Plaza, a 51,820-square-foot retail property located at 1815-1819 E. Jericho Turnpike in Dix Hills. NorthMarq structured a 9-year term with a 25-year amortization schedule through its relationship with a local bank for the borrower. Ernest DesRochers and Charles Cotsalas of NorthMarq Capital secured the financing in both transactions.
GREENWICH, CONN. — Allied Property Group has brokered the sale of an office building located at 88 Field Point Road in Greenwich. Field Post Associates LLC acquired the 11,300-square-foot property for $8.4 million from Fairstone Properties LLC. Thomas Torelli of Allied Property Group represented both parties in the transaction.
NEW YORK CITY — Marcus & Millichap has brokered the sale of a 16,000-square-foot apartment building located at 5201 Clarendon Road in Brooklyn. The 17-unit property sold for $2.8 million. Derek Bestreich, Erik Rodriguez and Lucien Sproviero of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, and the buyer, a limited liability company, in the transaction.