Property Type

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

Office Texas

Karlin Arranges Sale of 1M SF Office/Flex Space in Austin

by Haisten Willis August 7, 2015

AUSTIN, TEXAS — Karlin Real Estate has closed out the 1 million-square-foot first phase of PARMER Technology and Office Park with the sale of Parmer 6.2, a 292,000-square-foot office/flex building, to Casa Marco. Located at 301 Howard Lane, the building is one of three similarly sized institutional quality buildings that make up PARMER’s first phase, known at Sector 6. Karlin acquired the buildings from Dell in December 2012 when the computer maker moved to consolidate its operations to a 350-acre complex in Round Rock. Since then, the Los Angeles-based investor has backfilled 100 percent of the vacant buildings with a variety of companies including GM, Allergan and Met Labs. CBRE’s Mark Emerick and John Barksdale represented both parties in the transactions. Karlin and Dallas-based Trammell Crow Co. are developing the 400-acre technology and office park.

August 7, 2015

Retail Texas

Shop Cos. Arranges Sale of Retail Properties in Metro Dallas

by Haisten Willis August 7, 2015

DALLAS — SHOP Cos. Investment Sales has arranged the sale of three retail properties in metro Dallas totaling 47,476 square feet. Tommy Tucker and Tim Axilrod of SHOP Cos. represented three different sellers in each transaction. The sales included: Custer Plaza, a 29,152-square-foot retail center located in Frisco. At the time of closing, the property was 100 percent leased to tenants including Texas Family Fitness, Subway, Rosatti’s, Asiana Biztro, Life Changing Chiropractic and Serene Dentistry. SHOP Cos. represented the seller, a Dallas-based limited partnership. SHOP Cos. also procured the buyer, a private investor from metro Dallas; Ridgeview Village, a 16,474-square-foot shopping center located in Allen on Watters Road off of its intersection with Highway 121. The property was 100 percent leased to tenants including The Brass Tap, The Cryo Center of Allen, Max Muscle, Nail Trends, Laser Beauty Medical Spa, Shaiwase Japanese Restaurant and S J Lee Taekwondo. SHOP Cos. represented the seller, a Texas limited liability company, and procured the unnamed buyer; Starbucks, a new-construction 1,850-square-foot restaurant as a pad to a new Kroger Marketplace in Granbury. Starbucks signed a 10-year lease and sits along the frontage of U.S. Hwy 377 and FM 4/Acton Highway.

August 7, 2015

Industrial Texas

Alliance Architects Completes Design Services for Industrial Property in Metro Dallas

by Haisten Willis August 7, 2015

DESOTO, TEXAS — Alliance Architects, Inc. has completed design services for a speculative industrial building in DeSoto. Located on 64 acres in USAA Real Estate Co.’s Southfield Park 35, building one totals 1.1 million square feet and is being developed by Seefried Properties. Alliance Architects designed the 157-acre master plan, which features Class A building designs with build-to-suit flexibility and direct access to I-20 and I-35 in south Dallas, for Seefried.

August 7, 2015

Multifamily New York Northeast Retail

Silvershore Properties Sells 10-Building Portfolio for $39.4M

by Amy Works August 7, 2015

NEW YORK CITY — Silvershore Properties has completed the disposition of a 10-building portfolio of walk-up residential buildings in Brooklyn and Queens. Related Cos. acquired the portfolio for $39.4 million. Totaling 66,500 square feet, the portfolio features 76 residential units and two stores. The portfolio includes seven Brooklyn buildings in Greenpoint, Clinton Hill, Carroll Gardens, Prospect Heights, and three properties in Queens in Long Island City and Astoria. Aaron Jungreis of Rosewood Realty Group represented the buyer, while Devin Cohen of Rosewood Realty represented the seller in the transaction.

August 7, 2015

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