Property Type

Continental, Leo Brown Break Ground on $16M Seniors Housing Facility in Lexington

by John Nelson July 16, 2015

LEXINGTON, KY. — Columbus, Ohio-based Continental Real Estate Cos. and Carmel, Ind.-based Leo Brown Group have begun construction on a new senior living community in Lexington called Highgrove at Tates Creek. The community will consist of 90 assisted living units, 30 of which will be dedicated to memory care. Development costs for the community are approximately $16 million. Leo Brown Group’s management company affiliate, Traditions Management, will run the day-to-day operations once construction is complete. Traditions manages a portfolio of communities in Kentucky, Indiana and Ohio totaling 780 units. The partnership expects Highgrove at Tates Creek to accept its first residents in spring of 2016. This is the second community developed by Continental and Leo Brown Group — in 2014 the partnership broke ground on a 94-unit site in Granville, Ohio, which will open later this summer.

July 16, 2015

Northeast Retail Rhode Island

Sterling Organization Acquires 225,908 SF Shopping Center in Rhode Island

by Amy Works July 16, 2015

PROVIDENCE, R.I. — Sterling Organization, through its Sterling United Properties I LP fund, has acquired Wampanoag Plaza, a shopping center located in Providence, for an undisclosed sum. The 225,908-square-foot retail center is anchored by Stop & Shop Supermarket and was 96 percent occupied at the time of sale. Additional tenants include Marshalls, Savers, NAPA Auto Parts and Dollar Tree. The name of the seller was not released.

July 16, 2015

Loans Multifamily New York Northeast

Meridian Capital Arranges $35M in Refinancing for Windsor Tower of Tudor City Place

by Amy Works July 16, 2015

NEW YORK CITY — Meridian Capital Group has arranged a $35 million loan for the refinancing of the Windsor Tower of Tudor City Place, a residential property located at 5 Tudor City in Manhattan’s Midtown East neighborhood. The 30-year loan, provided by a life insurance company, features a 3.9 percent fixed rate and a 40-year amortization schedule. The residential tower features 795 units. Steven Geller and Nicoletta Pagnotta of Meridian Capital negotiated the financing for the borrower, Windsor Owners Cooperative.

July 16, 2015

Mixed-Use Multifamily New York Northeast Office Retail

Besen & Associates Brokers $6.5M Property Sale for Mixed-Use Project in Queens

by Amy Works July 16, 2015

NEW YORK CITY — Besen & Associates has brokered the sale of a commercial property located 124-22 Queens Blvd. in the Kew Gardens district of Queens. The property sold for $6.5 million, or $664 per existing square foot and $154 per buildable square foot. Built in 1948, the two-story building consists of two ground-floor retail spaces and two office spaces on the upper floor. The buyer plans to demolish the existing structure and construct a mixed-use development, including residential, retail and office space, on the site. Amit Doshi of Besen & Associates represented the seller, while Ronnie Shaban, also of Besen & Associates, represented the buyer in the transaction. The names of the seller and buyer were not released.

July 16, 2015

New York Northeast Retail

Silvershore Properties Sells 4,500 SF Retail Property in Soho for $9.6M

by Amy Works July 16, 2015

NEW YORK CITY — Silvershore Properties has sold a retail building located at 19 Howard St. in New York City’s Soho district. Ribo International Commerce LLC acquired the two-story 4,500-square-foot property for $9.6 million. The buyer plans to use the building, which was delivered vacant, for the first U.S. location of Taoray Wang, an upscale Chinese fashion company. Robert Burton of Cushman & Wakefield represented Silvershore Properties in the transaction.

July 16, 2015

Industrial Loans Northeast Pennsylvania

Kennedy Funding Closes $3.4M Loan for Multi-Building Industrial Property

by Amy Works July 16, 2015

FRANKLIN COUNTY, PA. — Kennedy Funding Financial LLC has closed a $3.4 million loan for a multi-building industrial property located in Franklin County. The two-year interest-only loan was secured by Foremost Realty Holdings, an affiliate of Foremost Industries. The lender was Foremost Realty Lender and the funding will be serviced by Kennedy Funding. The undisclosed borrower will use the proceeds to pay off an existing mortgage and secure a first lien. The collateral consists of a 260,000-square-foot, three-building property situated on 52.6 acres at 6100 Buchanan Trail West in Montgomery and Peters Townships, Franklin County.

July 16, 2015

California Office Western

Property Investment Co. Buys the Landmark Building in Irvine

by Nellie Day July 16, 2015

IRVINE, CALIF. – Property Investment Co. has purchased the Landmark Building, an 89,041-square-foot office property in Irvine, for $27.4 million. The Class A space is located at 2100 Main Street, within the master-planned Irvine Concourse office park. The building was about 60 percent occupied at the time of closing. Property Investment Co. was represented by North American Commercial and Industrial Properties. The sellers, 2100 Main L.P. and Bethel Holdings LLC, were represented by Alan Pekarcik and Dan Vittone of Avison Young.

July 16, 2015

Industrial Nevada Western

Bi Nutraceutical Leases 140,000 SF Distribution Space Near Reno

by Nellie Day July 16, 2015

RENO, NEV. – Bi Nutraceutical has leased a 140,000-square-foot distribution space in the Reno submarket of McCarran. The space is located at 625 Waltham Way, within the Tahoe-Reno Industrial Center. Nutraceutical is the largest supplier of botanical ingredients in the U.S. The landlord, Global Logistic Properties, was represented by J. Michael Hoeck, Dave Simonsen, Steve Kucera and Michael Nevis of the NAI Alliance Industrial Properties Group.

July 16, 2015

California Industrial Western

Ferguson Enterprises Leases Distribution Space in San Leandro

by Nellie Day July 16, 2015

SAN LEANDRO, CALIF. – Ferguson Enterprises has leased a 157,324-square-foot warehouse and distribution building in the Oakland submarket of San Leandro. The Class A facility is located at 1936 Fairway Drive. Ferguson has also leased a contiguous 5.8-acre parcel for its laydown yard. Once completed, it will be the residential plumbing supply company’s largest distribution hub in the region. The landlord is Prologis.

July 16, 2015

Colorado Office Western

Dayton Office Park in Greenwood Village Sells for $6.6M

by Nellie Day July 16, 2015

GREENWOOD VILLAGE, COLO. – Dayton Office Park, a 90,300-square-foot office park in the Denver submarket of Greenwood Village, has sold to an unnamed buyer for $6.6 million. The three-building complex is located at 6535-6565-6595 S. Dayton Street. The buildings were constructed between 1983 and 1985. The local seller was represented by Brandon Gouker of Pinnacle Real Estate Advisors.

July 16, 2015

Newer Posts

Older Posts