Property Type

Marcus & Millichap Arranges Sale of 98,157 SF Shopping Center in Stillwater, Minn.

by Danielle Everson April 10, 2015

STILLWATER, MINN. — Marcus & Millichap has arranged the $8.9 million sale of Oak Park Ponds, a 98,157-square-foot shopping center in Stillwater. Oak Park Ponds is located at 5801 Neal Ave. N. Kowalski’s Markets is a long-term anchor at the property. Mark Taylor and Dean Zang of Marcus & Millichap’s Philadelphia office, along Sean Doyle and Cory Villaume of the firm’s Minneapolis office, represented the seller, a limited liability company. Matt Hazelton, Adam ‘AJ’ Prins and Michael Marzinske of Marcus & Millichap’s Minneapolis office represented the buyer, another limited liability company.

April 10, 2015

Illinois Industrial Midwest

Impact Strategies Completes Expansion Project for Chelar Tool & Die in Belleville, Ill.

by Danielle Everson April 10, 2015

BELLEVILLE, ILL. — IMPACT Strategies has completed a $1.1 million expansion project for Chelar Tool & Die Inc., a Belleville-based tool manufacturer. Construction of the 12,000-square-foot addition began in October 2014 and completed in March. IMPACT Strategies built a single-story, pre-engineered metal building. The facility is equipped for making metal stamping dies, metal stampings, specialty precision machinery and Blanchard grinding. IMPACT Strategies collaborated on the project with architect EWR Associates Inc. of Fairview Heights.

April 10, 2015

Indiana Midwest Multifamily

Tikijian Associates Brokers Sale of 740-Unit Apartment Property in South Bend, Ind.

by Danielle Everson April 10, 2015

SOUTH BEND, IND. — Tikijian Associates has brokered the sale of Castle Point Apartments in South Bend. The property is located at 18011 Cleveland Road and is less than two miles away from Notre Dame University’s campus. The property includes 740 units and is known for its castle-like architecture. Tikijian Associates represented the seller, Zidan Management Group. Metonic Real Estate Services, an Omaha-based real estate investment management company, purchased the property for an undislosed sales price. Metonic plans to complete a renovation at Castle Point to include a comprehensive clubhouse rehab, exterior updates such as a new paint scheme, interior unit upgrades, additional landscaping and more. Omaha, Neb.-based Seldin Co. will serve as property manager.

April 10, 2015

Industrial Michigan Midwest

Friedman Arranges Sale of Two Industrial Buildings in Southfield, Mich.

by Danielle Everson April 10, 2015

SOUTHFIELD, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of two industrial buildings in Southfield. The properties include a 19,350-square-foot building and a 21,500-square-foot building. The properties are located within the Southfield Research Park at 21644 Melrose Ave. and 21666 Melrose Ave. The seller, RREF KB-MI STRI LLC, sold the building to Nexcess, which provides web-hosting solutions. Dan Verderbar and Rick Tabbi of Friedman represented the seller and the buyer in this transaction.

April 10, 2015

Loans Multifamily Texas

HFF Arranges $6.2M in Financing for Class A Apartment Complex in Metro Houston

by Haisten Willis April 10, 2015

KINGWOOD, TEXAS — HFF has arranged $6.15 million in mezzanine financing for the development of Kings Landing, a 327-unit, Class A apartment complex in Kingwood. HFF worked on behalf of the borrower, Mark-Dana Corp., to secure the loan through an affiliate of Prime Finance. Amegy Bank provided the senior construction loan in a non-HFF related transaction. Due for completion in 2016, the property will be composed of 12 two- and three-story garden-style buildings with units averaging 989 square feet each with attached garage parking. Situated on 12.6 acres at 331 Forest Center Drive, the property will have frontage along Highway 59 between the intersections of North Park Drive and Kingwood Drive, 24 miles north of downtown Houston. Colby Mueck led HFF’s equity placement team.

April 10, 2015

Multifamily Texas

Greysteel Arranges Sale of Apartment Complex in Metro Dallas

by Haisten Willis April 10, 2015

GRAND PRAIRIE — The Greysteel Co., a Washington, D.C.-based real estate investment services firm, has arranged the sale of Rose Garden, a 57-unit apartment community located at 2718 Sherman Street in Grand Prairie. Boyan Radic, Doug Banerjee, Andrew Mueller and John Marshall Doss of Greysteel represented NYE LLC in the sale of Rose Garden to Series C of Intelligent Investments LLC. Built in 1968, Rose Garden is a six-building, 43,670-square-foot property consisting of 33 one-bedroom units and 24 two-bedroom units. The property is located near prominent entertainment hubs, retailers and restaurants, and offers access to nearby amenities.

April 10, 2015

Multifamily Texas

Berkadia Negotiates Sale of Two Texas Multifamily Properties

by Haisten Willis April 10, 2015

AUSTIN AND GALVESTON, TEXAS — Berkadia has negotiated the sale of two multifamily properties in Texas. George Deuillet III and Forrest Bass of Berkadia’s Austin office negotiated the sale of Capitol Village Apartments located in Austin. Chip Nash, Greg Austin, Wade Schmitz and Bob Heard of the firm’s Houston office negotiated the sale of Driftwood Apartments in Galveston. Both sales closed on March 31. Capitol Village Apartments, located at 6855 E. Highway 290 in Austin, was built in 1969. The 249-unit property features studio, one-, two- and three-bedroom layouts. Unit amenities include kitchens with electrical appliances, balconies, patios, fireplaces, ceiling fans and walk-in closets. Community amenities include a swimming pool, clubhouse, playground, fitness center and business center, as well as barbeques, carports and two laundry facilities. The property, which is 96 percent occupied, is located on Highway 290 near State Route 183. The seller was InterGroup Corp. of Los Angeles and buyer was a private investor from San Francisco. Built in 1982, Driftwood Apartments is located at 7019 Lasker Drive in Galveston and is 97 percent occupied. The 238-unit property features one- and two-bedroom layouts, and unit amenities include kitchens, pantries, balconies, patios, washer and dryer connections, walk-in closets and …

April 10, 2015

Loans Multifamily Texas

LMI Capital Secures $26.4M Loan for Refinance of Apartment Complex in Houston

by Haisten Willis April 10, 2015

HOUSTON — Jamie Mullin of LMI Capital has arranged $26.4 million in debt for the refinance of a garden-style apartment complex in Houston’s Galleria submarket. On behalf of the borrower, Mullin secured the 10-year, fixed-rate CMBS loan that provided cash out proceeds to the client. The loan featured a 4.2 percent interest rate and five years of interest-only payments followed by a 30-year amortization schedule.

April 10, 2015

Retail Texas

Tyler’s Leases 17,274 SF for First Fort Worth Location

by Haisten Willis April 10, 2015

Fort Worth, Texas —Tyler’s will open a 17,274-square-foot store at the Trademark Property Co.’s WestBend mixed-use development in Fort Worth’s University District. Slated to open in early 2016, the regional retailer will bring athletic, lifestyle and collegiate apparel, footwear, eyewear and accessories to WestBend. It’s the company’s first location in Fort Worth and seventh statewide. Tyler’s will join the line-up of current WestBend tenants, including Zoë’s Kitchen, East Hampton Sandwich Co., and Silver Fox. In addition, The Fresh Market is slated to open this summer, and Grimaldi’s Coal-Brick Oven Pizzeria is slated to open this fall at the development. Upon completion in fall 2015, WestBend will include 280,000 square feet of retail, dining and office space.

April 10, 2015

California Retail Western

Legendary Restaurant Brands Franchisee Agrees to Develop 100 New Restaurants in California

by Nellie Day April 10, 2015

SANTA CLARA, CALIF. — Legendary Restaurant Brands has signed an exclusive master development agreement that will allow it to bring up to 100 new Bennigan’s and Steak and Ale restaurants to California. Narender Taneja, franchise owner of the recently remodeled Bennigan’s in Santa Clara, secured the exclusive master and sub-franchising rights for the state. Taneja recently finalized agreements to bring two new Bennigan’s to Fremont and San Jose, Calif. They are scheduled to open in the third and fourth quarters, respectively. Taneja also secured the rights to sub-franchise the brands to approved operators within California.

April 10, 2015

Newer Posts

Older Posts