Property Type

Crest Realties Sells Brooklyn Multifamily Building for $21.1M

by Amy Works August 27, 2015

NEW YORK CITY — An elevator-serviced multifamily building, located at 100 Luquer St. in Brooklyn’s Carroll Gardens neighborhood, sold in an all-cash transaction for $21.1 million, or $947 per square foot. Crest Realties sold the property, which was constructed in 2011, to an undisclosed buyer. The 22,280-square-foot property features more than 20 residential units with floor-to-ceiling windows, direct elevator access into units’ living spaces and private outdoor spaces. On-site amenities include on-premise parking, storage locker space, a fully equipped gym and a private and shared roof deck. Stephen Palmese, Robert Shapiro and Winfield Clifford of Cushman & Wakefield handled the transaction.

August 27, 2015

Massachusetts Northeast Retail

Marcus & Millichap Brokers $18.7M Sale of Net-Leased Grocery Store in Brockton

by Amy Works August 27, 2015

BROCKTON, MASS. — Marcus & Millichap has brokered the sale of a net-leased Stop & Shop grocery store located at 932 N. Montello St. in Brockton. The 65,425-square-foot property sold for $18.7 million, or $286 per square foot. Eight years remain the Stop & Shop’s original Royal Ahold N.V.-guaranteed, 20-year double-net lease. Robert Horvath of Marcus & Millichap’s Boston office represented the seller and procured the buyer. The names of both parties were not released.

August 27, 2015

Mixed-Use Multifamily New York Northeast Retail

GFI Realty Arranges $16M Acquisition of Washington Heights Mixed-Use Property

by Amy Works August 27, 2015

NEW YORK CITY — GFI Realty Services has arranged the acquisition of a mixed-use property located at 3750 Broadway in Manhattan’s Washington Heights neighborhood. A Miami-based investor purchased the property for $16 million from Monarch Realty Holdings LLC. The elevator building features 32 residential apartments and four ground-floor retail units. Ohad Babo of GFI Realty represented the seller, while Roni Abudi, also of GFI, represented the buyer in the transaction.

August 27, 2015

New York Northeast Retail

Indoor Golf Location Leases 6,435 SF at Dewitt Town Center in Syracuse

by Amy Works August 27, 2015

SYRACUSE, N.Y. — Par’s Indoor Golf has leased 6,435 square feet of retail space at 3179 Erie Blvd. within Dewitt Town Center in Syracuse. The family-owned-and-operated indoor golf center features six state-of-the-art golf simulators. The new location is slated to open at the end of October. Lindsey Forcione of The Icon Companies represented the tenant, while Grazi Zazzara, also of The Icon Companies, represented the undisclosed landlord in the transaction.

August 27, 2015

Industrial Kentucky Southeast

Dermody Properties to Develop 898,560 SF Warehouse for Wayfair in Kentucky

by John Nelson August 27, 2015

ERLANGER, KY. — Nevada-based Dermody Properties, in a joint venture with Hillwood Investment Properties, plans to develop an 898,560-square-foot facility in Erlanger for Wayfair Inc., an online home furnishings and décor retailer. The facility will be located on a 52-acre site at 1600 Donaldson Road adjacent to the Cincinnati/Northern Kentucky International Airport (CVG). Dermody Properties and Hillwood leased the land site from CVG earlier this year. The facility, known as LogistiCenter at 275, will be the largest single development by square footage in the history of Dermody Properties. DTZ represented Wayfair in the lease transaction. Paul Hemmer Co. is the general contractor on the project. Construction is expected to be complete in the second quarter of 2016.

August 27, 2015

Florida Loans Mixed-Use Southeast

Citigroup Arranges $60M Refinance of Weston Town Center in Broward County

by John Nelson August 27, 2015

WESTON, FLA. — Citigroup’s CMBS & commercial real estate finance office has arranged the $60 million refinancing of Weston Town Center, a retail and office campus in Weston. Anchored by Publix, the property is located at 2000 Main St. in South Florida’s Broward County. Michael Cohen of Citigroup arranged the 10-year, fixed-rate loan on behalf of the undisclosed borrower.

August 27, 2015

Anthem on Ashley Atlanta Old Fourth Ward

Georgia Mixed-Use Southeast

North American Properties Breaks Ground on Mixed-Use Project in Atlanta’s Old Fourth Ward

by John Nelson August 27, 2015

ATLANTA — North American Properties (NAP) has begun construction on Anthem on Ashley, a 245-unit luxury apartment community in Atlanta’s Old Fourth Ward neighborhood. The property will front Historic Fourth Ward Park and will be situated a short walk from the Atlanta Beltline’s Eastside Trail. The property will feature 6,000 square feet of ground-level retail and commercial space that will house a restaurant and coffee shop. Anthem on Ashley’s amenity package will include a resort-style pool, fitness center, clubroom, business center and a rooftop terrace. NAP expects to deliver the project in early 2017.

August 27, 2015

North Carolina Retail Southeast

Ziff Properties Acquires Shopping Center in Metro Charlotte for $8.2M

by John Nelson August 27, 2015

MATTHEWS, N.C. — Ziff Properties Inc. has purchased Matthews Festival Shopping Center, a 127,817-square-foot shopping center located at the corner of East Independence Boulevard and Matthews Township Parkway in Matthews, roughly 12 miles south of Charlotte. Ziff Properties purchased the center from an undisclosed seller for $8.2 million. The property’s tenant roster includes Big Lots, Miracle Ear, Springleaf Financial, Merle Norman Cosmetics, Tequilerias and Tamarind Fine Cuisine of India. Ziff Properties plans to renovate the shopping center. Bryan Wyker of The Providence Group represented the buyer in the transaction and will continue to work on repositioning efforts along with Alex Kelly of Tribek Properties.

August 27, 2015

Hospitality Maryland Southeast

Laurus Corp. Completes $5M Renovation of Sheraton College Park North Hotel in Metro D.C.

by John Nelson August 27, 2015

BELTSVILLE, MD. — Laurus Corp. has completed the repositioning of the 207-room, nine-story Sheraton College Park North Hotel. The hotel is located in Beltsville, a Maryland suburb roughly nine miles outside of downtown Washington, D.C. The $5 million renovation includes an overhaul of each hotel room with new furniture, upgraded bathrooms, new Wi-Fi connectivity, remodeled club lounge, updated fitness center, new signage, recent landscaping and a renovated outdoor swimming pool with a sundeck. The hotel is now pet-friendly and will accommodate dogs up to 40 pounds. In addition to the renovations, the hotel features a new restaurant and bar known as Asado Brasserie.

August 27, 2015

Market Reports Midwest Midwest Market Reports Missouri Retail

Hungry to Expand, Fresh-Format Grocers Boldly Enter St. Louis Market

by Jeff Shaw August 27, 2015

Family-owned grocers Schnucks and Dierbergs solidified their position as the primary grocers across the St. Louis metro area when Schnucks acquired 57 stores from National Supermarkets in 1995. But after several years of these two chains dominating the grocery sector, an influx of fresh-format grocery stores is shaking up the market by offering shoppers fresh, local, organic — and in some cases more affordable — whole food choices. These new chains — typically half the size of traditional grocers — appeal to a younger customer, as well as those looking to supplement their grocery shopping or find items for special occasions. Consumers interested in the offerings of fresh-format grocers are willing to drive farther to shop at their stores. New Entrants Abound Fields Foods, a “homegrown” fresh-format grocer, opened its first location in the Lafayette Square neighborhood in January 2014. The newly constructed 37,000-square-foot, stand-alone building is just south of downtown’s central business district. The grocer markets produce provided by farmers within 100 miles of the store, and also features a wine bar and personal shoppers. This unique, full-service grocer is locally owned and was the first fresh-format store to enter the metro area. Fields Foods has plans to expand …

August 27, 2015

Newer Posts

Older Posts