Property Type

HFF Brokers Sale of 74,000 SF Industrial Facility in New Jersey

by Amy Works November 26, 2014

LAKEWOOD, N.J. — HFF has arranged the sale of an industrial flex facility, located at 150 Oberlin Ave. in Lakewood. Cedar Group of NJ LLC purchased the 74,000-square-foot facility free and clear of existing debt from LNR Property LLC for an undisclosed price. Situated on 6.28 acres, the multi-tenant facility was renovated in 2000 and features 20- to 28-foot clear ceiling heights, nine dock-high doors, nine drive-in doors and 116 parking spaces. Current tenants include Ateres Tzipora, NJPD Plumbing & Heating, Dealmed Medical Supplies and Arc of Ocean County. Michael Nachamkin, Jose Cruz, Kevin O’Hearn and Jordan Avanzato of HFF represented the seller in the transaction.

November 26, 2014

California Multifamily Western

Missions at Rancho Del Oro Apartment Community in San Diego Changes Hands

by John Nelson November 26, 2014

SAN DIEGO — A privately held real estate investment firm based in Georgia has acquired the 284-unit Missions at Rancho Del Oro in Oceanside for an undisclosed sum. The community is located at 4795 Frazee Road. Rancho Del Oro was built in 2001. It features a mix of one- to three-bedroom units. Community amenities include a courtyard pool, spa, barbecue areas, children’s playground, grassy picnic area, a clubhouse building, fitness center, game room, business center and a media room. The seller, a New York-based institutional owner, was represented by Kevin Mulhern, Dixie Hall, Rachel Parsons and Tyler Anderson of the CBRE Multifamily Investment Properties group.

November 26, 2014

Loans New York Northeast Retail

Cronheim Mortgage Secures $7.7M in Financing for Nine Mall Plaza in New York

by Amy Works November 26, 2014

POUGHKEEPSIE, N.Y. — Cronheim Mortgage has secured $7.7 million in financing for Nine Mall Plaza in Poughkeepsie. The 99,765-square-foot shopping center is occupied by Babies R Us, Aldi, H&R Block, Verizon, Supercuts and a variety of local retailers, including a dance studio and nail salon. The loan was structured with a 10-year initial term, a 22.5-year amortization schedule and flexible prepayment options for the borrower, Nine Mall Investors LLC. Dev Morris and Andrew Stewart of Cronheim Mortgage arranged the financing.

November 26, 2014

Midwest Ohio Retail

M&M Brokers $3.9M Sale of Rite Aid Property in Toledo

by Danielle Everson November 26, 2014

TOLEDO, OHIO — Marcus & Millichap has brokered the $3.9 million sale of Rite Aid, a 11,180-square-foot, net-leased property in Toledo. The property is located at 1605 Broadway St. The property was sold above its list price. Mark Lovering and Dan Yozwiak of Marcus & Millichap’s Columbus office represented the seller, a partnership, and the buyer, a REIT.

November 26, 2014

Illinois Midwest Retail

Baum Realty Group Arranges Lease for Brewery in Chicago

by Danielle Everson November 26, 2014

CHICAGO — Baum Realty Group LLC has arranged a 3,000-square-foot lease for DryHop Brewers in Chicago. The property is located at 3446 N. Southport Ave., between Newport Ave. and Cornelia Ave. The new brewery will be called Corridor Brewery & Provisions and is scheduled to open summer 2015. Will Crowden and Allen Joffe of Baum Realty Group arranged the lease on behalf of DryHop.

November 26, 2014

Florida Mixed-Use Southeast

Early Site Work Begins for ONE DAYTONA Development

by John Nelson November 26, 2014

DAYTONA BEACH, FLA. — P&S Paving has commenced construction on the early site work for ONE DAYTONA, a premier mixed-use and entertainment development across from Daytona International Speedway in Daytona Beach. P&S Paving was awarded the contract for infrastructure improvements for Phase I, which includes site development, drainage and underground utility work. ONE DAYTONA is a joint venture between Jacoby Development and International Speedway Corp. (ISC). P&S Paving is also the subcontractor for ISC’s $400 million DAYTONA Rising project underway at Daytona International Speedway.

November 26, 2014

Georgia Multifamily Southeast

Passco Cos. Acquires Metro Atlanta Apartment Community for $38.8M

by John Nelson November 26, 2014

KENNESAW, GA. — Passco Cos. LLC has acquired the recently completed Twenty25 Barrett, a 238-unit apartment community, for $38.8 million. The LEED Gold-certified property is located at 2025 Barrett Lakes Blvd. in Kennesaw, a northern suburb of Atlanta. The property includes a clubhouse/business center, fitness center, executive club lounge, swimming pool with sunning shelf, dog park and lakefront trail. Developed by AMLI, the property’s units average 990 square feet.

November 26, 2014

Florida Office Southeast

Chambers Street Sells Orlando Office Building for $26.5M

by John Nelson November 26, 2014

ORLANDO, FLA. — Chambers Street Properties, an industrial and office REIT, has sold a 124,500-square-foot office building in Orlando for $26.5 million. The property is located at 12650 Ingenuity Drive. The disposition is part of the REIT’s strategy to sell its non-core office assets and purchase industrial assets in the United States, according to Martin Reid, executive vice president and CFO of Chambers Street.

November 26, 2014

Alabama Retail Southeast

GBT Realty Signs Sprouts to Phase II of Strong Station in Huntsville

by John Nelson November 26, 2014

HUNTSVILLE, ALA. — GBT Realty Corp. has signed Sprouts Farmers Market as part of the $16 million Phase II of Strong Station, a neighborhood retail center in Huntsville. The property is located at the intersection of US Highway 72 and Nance Road. Phase II, which spans 95,000 square feet, is nearly 96 percent leased to Sprouts, Hobby Lobby and Another Broken Egg. Phase I, which opened in 2012, includes Academy Sports + Outdoors. Phase II is currently under construction.

November 26, 2014

Retail Texas

Verizon Destination Store Opens at BLVD Place in Houston

by Haisten Willis November 26, 2014

HOUSTON — The third Verizon Destination Store in the United States has opened at BLVD Place in Houston. The store is four times the size of a typical Verizon store and is designed to showcase Verizon’s newest devices. The two-story Houston store spans 12,224 square feet, with consumer products on the first floor and business products located on the second floor. BLVD Place is a mixed-use project under development in Houston’s uptown district. The project includes a Whole Foods Market, Frost Bank’s Houston headquarters, shops and restaurants, office space and high-rise residences.

November 26, 2014

Newer Posts

Older Posts

Upcoming Events

Sep
03

Webinar: Inside the Design Revolution in Student Housing

Student Housing Business will host a webinar, “Inside the Design Revolution in Student Housing,” which explores how design and furniture are evolving to create more dynamic, marketable communities. The conversation will feature insights from leading design, development, and furniture experts.

Sep
04