Property Type

Cushman & Wakefield Arranges $13.5M Loan for ATLofts at Atlantic Station in Atlanta

by John Nelson June 18, 2015

ATLANTA — Cushman & Wakefield has arranged the $13.5 million refinancing of 109 of the 155 apartment units at ATLofts at Atlantic Station in Atlanta. Mike Ryan, Telly Fathaly, Brian Linnihan and Jeff Walker of Cushman & Wakefield’s Atlanta office arranged the loan through GE Capital on behalf of the undisclosed owner, which will use the funding to refinance existing debt on the property, as well as purchase additional units at ATLofts. Atlantic Station is 1.4 million-square-foot mixed-use development in Midtown Atlanta that features Class A office towers, retail space, restaurants, entertainment venues, student housing, apartment residences, condominiums and a hotel.

June 18, 2015

Georgia Office Southeast

Pike Nurseries Relocates Headquarters to Duluth Office Center

by John Nelson June 18, 2015

DULUTH, GA. — Pike Nurseries, a popular garden and lawn retailer, has relocated its corporate headquarters to Duluth Office Center, an office building located at 3555 Koger Blvd. in Duluth, an eastern suburb of Atlanta in Gwinnett County. The garden chain will lease 9,000 square feet that will serve as its support center for its 15 stores in metro Atlanta, growing facility in Marietta, Ga., and its store in Charlotte, N.C. Pike’s former corporate headquarters was in the Park Summit building located at 2675 Breckinridge Blvd. in Duluth. Bennett Gottlieb and John Thornton of CBRE represented Pike Nurseries in the lease transaction. Stream Realty Partners represented the undisclosed landlord.

June 18, 2015

Georgia Industrial Southeast

Compass Self Storage Acquires Eighth Facility in Metro Atlanta

by John Nelson June 18, 2015

MCDONOUGH, GA. — Compass Self Storage, a member of the Amsdell family of companies, has purchased a 72,000-square-foot self storage facility at 2140 Jodeco Road in McDonough, a southern suburb of Atlanta. Compass Self Storage will continue to operate the property, which features drive up access, indoor climate controlled units, digital surveillance, electronic access, online payments, outdoor parking and a line of moving and packing supplies. The facility is the eighth Compass Self Storage location in the metro Atlanta area and the sixth store that Compass has opened under the Compass flag in 2015.

June 18, 2015

Illinois Industrial Market Reports Midwest Midwest Market Reports

Dynamic O’Hare Industrial Submarket Regains Its Beat on Development Front

by Haisten Willis June 18, 2015

Chicago’s 1.2 billion-square-foot industrial market has weathered the Great Recession and is now showing strong growth through expansion of the region’s traditional boundaries and by way of redevelopment in land-locked areas. At the center of this trend is O’Hare International Airport — sixth in the nation and 17th in the world in air cargo tonnage. All totaled, the O’Hare industrial submarket contains 103 million square foot of product. Since the vacancy rate peaked at approximately 13 percent in 2010, the O’Hare industrial submarket has rebounded in a big way. In fact, the submarket has recorded positive absorption every year since 2011. The vacancy rate fell to 7 percent in 2014 due to an improving economy and the aggressive deal making of the larger industrial owners such as Prologis, KTR and Hamilton Partners. Development Ramps Up Shrinking vacancy rates and a lack of available Class A logistics facilities led to the delivery of multiple speculative developments in 2014. These projects were the first built since 2007. Panattoni completed 208,000 square feet at 1925 Busse Road in Elk Grove Village and leased the entire facility to CEVA Logistics. The project was subsequently sold to AEW Capital Management at a record-setting cap rate …

June 18, 2015

Colorado Multifamily Student Housing Western

Marcus & Millichap Arranges $24 Million Sale of Boulder Community

by Nellie Day June 18, 2015

BOULDER, COLO. — Marcus & Millichap has arranged the sale of Plaza on Broadway, a 39-unit, 152-bed multifamily student housing community in Boulder. The $24.05 million sales price equates to $616,667 per unit, $158,224 per bed and approximately $474 per square foot. Built in 2013, the property is situated on 1.44 acres, located directly across from the University of Colorado-Boulder campus at 17th Street and Broadway. The property sits on a 60-year ground lease. Jacob Steele, associate vice president investments, and Nick Steele, associate, both in Marcus & Millichap’s Denver office, facilitated the sale on behalf of equity members. Plaza on Broadway is a community built with emphasis on sustainable living through high-efficiency mechanical systems for reduced water and energy consumption, natural ventilation and a location that allows residents ease of access to public transportation. Community amenities include bike storage, fitness center, laundry facilities, interior study spaces, television rooms, exterior courtyards and underground parking. The unit mix features mostly four-bedroom apartments with private bathrooms for each bedroom.

June 18, 2015

California Multifamily Student Housing Western

The Quad at CSU San Marcos in San Diego Completed

by Nellie Day June 18, 2015

SAN DIEGO — The Quad, a privately owned, mixed-use student housing structure designed by Safdie Rabines Architects and located in San Diego’s 204-acre North City master plan, has been completed. Located directly across the street from California State University San Marcos Campus (CSUSM), The Quad is a five-story, 230,600-square-foot building designed to achieve LEED Gold certification. It includes 591 dorm rooms housing 889 student beds, 12,000 square feet of academic, student life and event spaces, and 20,000 square feet of retail/commercial space. The ground floor retail is oriented along North City’s main entrance road and features cafes, restaurants and outdoor dining. A parking arrangement allows all parking spaces to be located on the campus, encouraging students to walk or bike across the road to the campus. The Quad is comprised of six separate buildings organized around a series of outdoor spaces including a large central courtyard. Exterior bridges and stair towers link the buildings. The courtyard includes a pool and barbecue area, with student classrooms and lounges along the perimeter activating the central quad. The units are designed with central bathroom and kitchen cores, stacking the utilities to maximize efficiency within buildings.

June 18, 2015

Multifamily Student Housing Utah Western

Homestead Development Partners Forms Joint Venture

by Nellie Day June 18, 2015

PARK CITY, UTAH — Homestead Development Partners has formed as a venture between Michael Augustine, Jared Miller, Evan Schwartz and Columbus Pacific Properties. The company’s focus is to develop high-caliber student housing communities nationwide and acquire assets through a value-add strategy. Target communities will be focused in tier-two and tier-three markets with a smaller emphasis on tier-one. HELIX Starkville, Homestead’s first development, is currently under construction at Mississippi State in Starkville, Mississippi. HELIX Starkville will be 258 units comprising 802 beds in one-, two-, and four-bedroom floor plans located across the street from campus. Leasing will begin fall 2015. Two additional Homestead developments are in the planning stages. The first is located at another southern university, while the second will be located in the northeast. Developments and value-add acquisitions will be acquired by Homestead Development Partners and managed by Homestead-U, an affiliated management company based in Columbus, Ohio.

June 18, 2015

California Industrial Western

Isarena Buys Gardena Industrial Building for $4.8M

by Nellie Day June 18, 2015

GARDENA, CALIF. – Isarena has purchased a 4,6770-square-foot industrial building in Gardena for $4.8 million. The building is located at 246 W. 146th Street. Isarena was represented by Gary Blan of Commercial Property Group. The seller, Robert R. Barboor Trust, was represented by Craig Poropat and Bret Osterberg of Lee & Associates Los Angeles – Long Beach.

June 18, 2015

Arizona Industrial Western

Daifuku Renews, Expands at Chandler Tech Center

by Nellie Day June 18, 2015

CHANDLER, ARIZ. – Japanese material handling and automation solutions firm Daifuku has leased 30,247 square feet at Chandler Tech Center. The renewal allows the firm to expand its operations at the center, which is located at 7406 W. Detroit Street in Chandler. Daifuku was represented by Conner Lee and Marc Pierce of Lee & Associates. The landlord, Buchanan Street Partners, was represented by Jackie Orcutt and John Grady of Cushman & Wakefield.

June 18, 2015

California Retail Western

CBRE Global Investors Fund Acquires Retail Center in Los Angeles

by Katie Sloan June 17, 2015

LOS ANGELES — An undisclosed fund advised by CBRE Global Investors has acquired Gateway at Burbank, a 74,391-square-foot, two-building grocery anchored shopping center located along Interstate Five Golden State Freeway in Burbank. One building is a freestanding grocery store, and the other is a multi-tenant retail building anchored by a drugstore. The property is fully leased to seven tenants.

June 17, 2015

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