Property Type

Senate Construction Completes 73,000 SF Renovation at Stoughton Town Center

by Amy Works April 24, 2015

STOUGHTON, MASS. — Senate Construction Corp. has completed the renovation of the 73,000-square-foot Stoughton Town Center in Stoughton. The project consisted of a new façade with architectural gables that enhance tenant signage and visibility, minor re-painting of the exterior and new LED lighting throughout the parking area. The construction was completed on behalf of Tri-Town Commons LLC, a joint venture of Winstanley Enterprises LLC and Silvera Asset Group LLC. The project team included Winstanley Construction Management, Winstanley Property Management, Phase Zero Design Inc. as project architect, Alfred Benesch & Co as civil engineer and Amolions Structural Consultants Inc. as structural engineer.

April 24, 2015

New Jersey Northeast Office

Colliers Arranges 30,000 SF Relocation for Paychex to One Centennial Plaza

by Amy Works April 24, 2015

PISCATAWAY, N.J. — Colliers International has arranged a long-term 30,000-square-foot lease for Paychex North America Inc. to relocate to One Centennial Plaza in Piscataway. Paychex, a provider of payroll, human resource and benefits outsourcing solutions for small to medium-sized businesses, will relocate to a portion of the first floor of the three-story, 236,961-square-foot office building this fall. The property features a conference and training center, security desk, on-site property management, 24/7 access, a full-service cafeteria and an outdoor seating area. Richard Madison and Jack Callahan of Colliers represented the landlord, while Michael Maroon of Acclaim Group represented Paychex in the transaction.

April 24, 2015

California Multifamily Western

Greystar Buys Ballpark Village Parcel in San Diego for Multifamily Development

by Nellie Day April 24, 2015

SAN DIEGO — Greystar has acquired a development parcel within the new master-planned development of Ballpark Village in San Diego. The mixed-use project sits adjacent to Petco Park in the city’s Ballpark District. Greystar’s site is slated for a 37-story, 446-unit multifamily tower. The purchase price was not disclosed. The asset will offer views of the Pacific Ocean, San Diego Bay, Coronado Island and bridge, Balboa Park, Point Loma and the Downtown skyline. Community amenities will include a rooftop pool, clubhouse, spa, fire pit and barbecue area. The property will also feature a three level parking garage and 24,000 square feet of retail space. The seller, a joint venture between JMI and Lennar, was represented by JLL’s Darcy Miramontes, Lynn LaChapelle, Bob Prendergast and Kip Malo. Ballpark Village is slated for completion in 2018.

April 24, 2015

California Retail Western

Round One Family Entertainment Center to Open Six New U.S. Locations

by Nellie Day April 24, 2015

SAN FRANCISCO — Round One, a Japan-based, family friendly entertainment center, has announced plans to open six new locations this year throughout the U.S. This is in addition to the five centers it currently operates. Round One also intends to open eight more locations in 2016. The new concept will soon debut at Westfield Southcenter Mall in Seattle; Eastridge Shopping Center in San Jose, Calif.; and Main Place Mall in Santa Ana, Calif. It will also open outposts in Pennsylvania and Massachusetts. The family entertainment centers typically range between 45,000 square feet and 80,000 square feet. They offer a variety of activities like karaoke, bowling, billiards, ping pong and darts, in addition to food and beverage options. Round One has existing California locations at Lakewood Center Mall in Lakewood; Moreno Valley Mall in Moreno Valley; and Puente Hills Mall in the City of Industry. It also has centers in Texas and Illinois. The company is actively looking for new locations in gateway Northeast markets, as well as in strong retail trade areas like Washington, Oregon and California, according to RKF’s David Friedman, who arranged the six new leases for Round One. Round One currently operates more than 100 locations in …

April 24, 2015

Nevada Retail Western

Zulily.com Building in Northern Nevada Sells for $41.7M

by Nellie Day April 24, 2015

RENO, NEV. — A 707,010-square-foot space in the Reno area that is occupied by Zulily.com has sold to CBRE Investments for $41.7 million. The space is located at 3200 USA Parkway, within the Tahoe Reno Industrial Center in the submarket of McCarran. Zulily is an e-commerce discount retailer. The seller, US RIO LP, was represented by Michael Nevis, Dave Simonsen, J. Michael Hoeck and Steve Kucera of NAI Alliance.

April 24, 2015

Retail Washington Western

Donahue Schriber Buys Interbay Urban Center in Seattle

by Nellie Day April 24, 2015

SEATTLE — Donahue Schriber Realty Group has acquired Interbay Urban Center, an 80,560-square-foot shopping center in Seattle, for an undisclosed sum. The center is located at 1827 15th Ave. Interbay is anchored by Whole Foods Market. It is situated just three miles northwest of Downtown Seattle near the communities of Magnolia, Queen Anne, Ballard and Interbay. The center is fully leased. This is Donahue Schriber’s third Seattle-area acquisition in the past four months.

April 24, 2015

Arizona Multifamily Western

The Vintage Apartments in Gilbert Sells for $14.2M

by Nellie Day April 24, 2015

GILBERT, ARIZ. — Clear Sky Vintage LP has purchased the Vintage, a 106-unit apartment community in Gilbert, for $14.2 million. The community is located at 1303 West Juniper Ave. The Vintage was built in 2000. It was originally slated to become a condominium conversion before it was purchased by Vintage Gilbert LLC through a trustee sale in 2013. Common-area amenities include a clubhouse, fitness center, business center, swimming pool and spa. Units range from studio/lofts to three-bedroom apartments. Clear Sky was represented by DTZ’s David Fogler and Steven Nicoluzakis.

April 24, 2015

Michigan Midwest Mixed-Use

Detroit-Headquartered Business Wins $50M Steel Contract for New Detroit Events Center

by Danielle Everson April 23, 2015

DETROIT — Midwest Steel, a Detroit-headquartered business, has been awarded a $50 million contract for most of the structural steel work for the new Detroit Events Center. To date, the Downtown Development Authority has approved seven contracts worth $85 million, of which Detroit-based and -headquartered businesses have won more than 90 percent, or $78 million. Olympia Development of Michigan has set a target of at least 30 percent Detroit-based and -headquartered business participation in constructing the future home of the Detroit Red Wings. Midwest Steel is a third-generation family business that has been headquartered in Detroit for more than 40 years.

April 23, 2015

Michigan Midwest Multifamily Student Housing

Rockford Construction to Build $35M Fulton Place at Grand Valley State University

by Danielle Everson April 23, 2015

GRAND RAPIDS, MICH. — Rockford Construction will break ground on the $35 million Fulton Place residential development in Grand Rapids on the western edge of Grand Valley State University’s Pew campus. The project will include three buildings and is set for completion by the 2016-2017 school year. Fulton Place will also include approximately 10,000 square feet of retail space on the ground level, as well as on-site residential parking in a two-story garage and street-level parking. The first building will be 13,000 square feet with seven three-story townhomes, each with four bedrooms, ranging from 1,400-2,000 square feet. The second building will be 5,500 square feet, three stories and house three apartments, each with three bedrooms. The third building will be 125,000 square feet, five stories and have 102 apartments that are a mix of loft and one-, two- and four-bedroom units.

April 23, 2015

Industrial Midwest Minnesota

Hillcrest Development, Opus to Develop Industrial Park in Cottage Grove, Minn.

by Danielle Everson April 23, 2015

COTTAGE GROVE, MINN. — Hillcrest Development LLLP and The Opus Group will develop a 40-acre industrial business park in Cottage Grove. The property is located south of U.S. Highway 61 at the northwest corner of Hemingway Avenue South and 91st St. South adjacent to Hamlet Park. Plans for the site include a variety of development scenarios ranging from 425,000 to 550,000 square feet of rail-served industrial space with the ability to support a 38-foot ceiling height and outside storage. Canadian Pacific will provide rail service to the site.

April 23, 2015

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