Property Type

NGKF Named Leasing Agent for 31-Story Office Building in Oakbrook Terrace, Ill.

by Jonathan Mehall July 27, 2015

OAKBROOK TERRACE, ILL. — Newmark Grubb Knight Frank has been selected as the leasing agent for 1 Tower Lane in Oakbrook Terrace, the tallest building in the state outside of downtown Chicago. Oakbrook Terrace Tower is a Class A, 792,192-square-foot office building located in the western suburbs of Chicago. Built in 1987, the 31-story property features expansive views of the western suburbs and downtown Chicago, a fitness center, conference center, food service, on-site management, on-site security and an executive underground garage. The property also offers easy access to O’Hare airport. John Clark, Rob Lundin and John Norris of Newmark Grubb Knight Frank will lead the brokerage team.

July 27, 2015

Healthcare Midwest Missouri

McGrath Begins $6.5M Expansion of New Energy Center at Des Peres Hospital in St. Louis

by Jonathan Mehall July 27, 2015

ST. LOUIS — McGrath & Associates has begun construction on a $6.5 million energy center expansion at Des Peres Hospital in St. Louis. The architect for the project is ACI Bolland Architects. The 3,475-square-foot expansion is expected to increase capacity and reliability of the hospital’s heating, cooling and emergency power systems. The expanded center will house a new chiller, boilers, switchgear, and automatic transfer switches. A new cooling tower and fuel tanks will be installed adjacent to the expansion. When completed, the Des Peres Hospital energy center will total 8,875 square feet. The project will be completed in phases to allow the hospital and its heating, cooling and emergency power systems to remain fully operational throughout construction, which is scheduled for completion in the spring of 2016.

July 27, 2015

Indiana Midwest Multifamily

Marcus & Millichap Arranges Sale of 12-Unit Apartment Building in Elkhart, Ind.

by Jonathan Mehall July 27, 2015

ELKHART, IND. — Marcus & Millichap has arranged the sale of Gladstone Apartments in Elkhart, located at 601-603 Gladstone Ave. The 12-unit, multifamily property sold for $264,000, or $22,000 per unit, and consists of two one-bedroom units and 10 two-bedroom units. Gladstone Apartments is fully occupied. Built in 1964, the property had been owner-operated and owner-managed for 36 years and included relatively new windows and roofing. The 10,800-square-foot property is located a few blocks from downtown Elkhart and has trolley access to Walmart, Meijer, Elkhart General Hospital, and Ivy Tech, according to LoopNet. The apartment community includes spacious floor plans, separately metered electric, baseboard heat, an outdoor picnic area, coin-operated washers and dryers in two laundry rooms, wall-mounted electric air conditioning, landlord-paid water/sewer/trash common area electricity and private trash services. David Orton of Marcus & Millichap’s Indianapolis office represented the buyer, a private investor, in the transaction. Orton also marketed the property on behalf of the seller, a personal trust. Orton Interra Credit Union, a local bank, financed the transaction.

July 27, 2015

Colorado Industrial Loans Western

NorthMarq Arranges $59M in Financing for Colorado Technology Center Portfolio

by Nellie Day July 27, 2015

LOUISVILLE, COLO. — The Colorado Technology Center Portfolio, which contains a total of 631,135 square feet of light industrial space, has received $59 million in financing. The seven-building portfolio was fully leased, and all are situated within the Colorado Technology Center in Louisville, northwest of Denver. Steve Bye and Conor McCahill of NorthMarq Capital’s Denver office arranged the financing with an undisclosed investment bank. The non-recourse loan structure involved a 10-year, fixed-rate term with interest-only payments for three years, followed by a 30-year amortization schedule.

July 27, 2015

Office Oregon Western

Nike Leases Space at AmberGlen Business Center in Beaverton

by Nellie Day July 27, 2015

BEAVERTON, ORE. — Nike has leased 105,005 square feet at the AmberGlen Business Center in Beaverton. The 217-acre business campus is 20 minutes from downtown Portland. Bradford Fletcher of Newmark Grubb Knight Frank represented Nike. Chris Johnson, MaryKay West and Brandon Frank of NAI Norris, Beggs & Simpson represented the landlord, AmberGlen Office Corp.

July 27, 2015

California Retail Western

Irvine Co. to Open New Restaurants Across Orange County Portfolio

by Nellie Day July 27, 2015

IRVINE, CALIF. — Irvine Co. Retail Properties has announced the opening of new restaurants across its Orange County portfolio, including Fashion Island, Irvine Spectrum Center, The Market Place and several other community centers. Openings include Sushi Roku, American Tea Room and Hopdoddy Burger Bar at Fashion Island in Newport Beach; Kona Grill and Habana, a Cuban restaurant and bar, at Irvine Spectrum Center; TAPS Fish House & Brewery, Famous Dave’s Barbeque, Miguel’s Jr. Homestyle Mexican Food and Piadina Italian Market at The Market Place in Irvine; Mendocino Farms at University Center; California Pizza Kitchen at Alton Square; and Burntzilla Modern Eats at Walnut Village Center.

July 27, 2015

Arizona Retail Western

Colliers Arranges $6M Sale of Arrowhead Lakes Marketplace

by Nellie Day July 27, 2015

GLENDALE, ARIZ. — Colliers International has arranged the $6 million sale of Arrowhead Lakes Marketplace, a 22,280-square-foot grocery-anchored retail center located in Glendale. Steve Gonzalez, Marcus Muirhead and Greg Guglielmino of Colliers represented the buyer, DCL Investments LLC, in the transaction. The seller was self-represented. The center was 92 percent occupied at the time of sale.

July 27, 2015

California Retail Western

Cathay Pacific Acquires Los Angeles Retail Property for $3.1M

by Nellie Day July 27, 2015

LOS ANGELES — Carthay Pacific LLC has purchased a 6,789-square-foot retail property in Los Angeles for $3.1 million. The building is located at 6001-6011 W. Pico Blvd. The buyer plans to turn this space into a new multifamily development. The two retail tenants are on short-term leases. Michel Hibbert of Charles Dunn Company represented Carthay. David Aschkenasy of Commercial Asset Group represented the seller, 6001-6011 W. Pico Boulevard LLC.

July 27, 2015

Georgia Office Southeast

The Brookdale Group Underway on Multimillion Dollar Renovation of Buckhead Office Tower

by John Nelson July 27, 2015

ATLANTA — The Brookdale Group has commenced a multimillion dollar capital improvement program for 3445 Peachtree, a 14-story, 287,000-square-foot office building in Atlanta’s Buckhead submarket. The Atlanta-based private equity firm purchased both 3445 Peachtree and The Pinnacle building next door in January 2015. The renovations to 3445 Peachtree, formerly known as Two Live Oak, include an overhaul to the lobby, modernized elevators, landscaping upgrades, enhanced front and garage entrances and a freshly painted exterior. The lobby upgrades are expected to be finished in October and the remaining renovations will be completed in early 2016. The Brookdale Group has tapped Niles Bolton Associates as the architect for the renovations and Transwestern as the construction manager. DTZ currently provides agency leasing services at the building, and Transwestern provides property management services. Originally built in 1969, 3445 Peachtree is now ENERGY STAR rated and is currently 82 percent leased to 23 national and regional tenants. The property is operated in tandem with The Pinnacle building.

July 27, 2015

Florida Multifamily Southeast

Forum Architecture to Design New Apartment Community in Orlando

by John Nelson July 27, 2015

ORLANDO, FLA. — Forum Architecture & Interior Design Inc. has received a contract to design Oasis at Grande Pines, a 282-unit apartment community located on Westwood Boulevard in Orlando near Sea World. The project team includes developer Picerne Development Corp., structural engineer Structural Concepts & Design and MEP engineer Joseph, Lawrence & Co. The apartment community will feature one-, two- and three-bedroom units within three-story walkup buildings, as well as separate carriage units with direct access garages. The property will also have a 9,600-square-foot clubhouse with a clubroom, game room, theater, fitness center, conference room, business facility and an outdoor porch.

July 27, 2015

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