TINLEY PARK, ILL. — Paine/Wetzel TCN Worldwide has arranged a 25,488-square-foot industrial lease within a 100,000-square-foot building at 7650 W. 185th St. in Tinley Park, a suburb south of Chicago. Emerson Process Management assists companies in controlling and managing their water and energy processes to cut costs and create efficiency. The company, already located in Tinley Park, is expanding its operations into this new location. Emerson selected the building due to its close proximity to expressways, a train station, hotels and restaurants. The building includes a 30-foot ceiling height, five docks, one drive-in door and parking for up to 60 cars. Ed Wabick, Curt Stanton and Patrick Fitzgerald of Paine/Wetzel represented the tenant, Emerson Process Management. NAI Hiffman’s Mike Robbins and Ben Cremer represented the building’s landlord, SAVI Properties LLC.
SAN ANTONIO — San Antonio Commercial Advisors (SACA) has arranged the sale of Nogalitos Shopping Center, a 16,279-square-foot shopping center located at 3002 Nogalitos St. in San Antonio. Brent Smith and Bradley Suttle of SACA represented the seller in the transaction and also procured the Houston-based buyer. Built in 1963, Nogalitos Shopping Center is fully leased with 66 percent of the square footage on a long-term lease with O’Reilly Auto Parts. SACA is an independently owned and operated member of the Cushman & Wakefield Alliance.
CHICAGO — Metonic Real Estate Solutions has purchased a six-story, 58,000-square-foot, brick and timber office building in Chicago for an undisclosed sales price. The property is located at 217 N. Jefferson St. in the West Loop and includes an adjacent 40-stall surface parking lot. The building was originally constructed in 1938 and redeveloped in 2008. It is fully occupied primarily by technology and creative tenants.
BURR RIDGE, Ill. — Lee & Associates has arranged the $4.1 million sale of a 52,000-square-foot truck terminal industrial building located at 7545 S. Madison in Burr Ridge. Justin Fierz, Brian Vanosky and Tim McCahill of Lee & Associates’ Illinois office represented the seller, RAB Properties Inc. Kip Hennelly of Patrick Commercial Real Estate represented the buyer.
WASHINGTON, D.C. — CBRE Capital Markets’ debt and structured finance team has arranged $63.6 million in acquisition financing for a 195,624-square-foot office building located at 2025 M St. in Washington, D.C.’s central business district. Charles Foschini, Christian Lee and Christopher Apone of CBRE’s Miami office arranged the 10-year loan through Philadelphia-based RAIT Financial Trust on behalf of the borrower, a private family interest in Brazil. The loan features three years of interest-only payments.
WEST PALM BEACH AND MIAMI GARDENS, FLA. — NGKF Capital Markets has arranged $33.5 million in financing for two multifamily properties in South Florida: the 192-unit Serrano in West Palm Beach and the 234-unit Park Plaza in Miami Gardens. Maury Zanoff, Joe Donato, Matthew Williams and Jamie Leachman of NGKF’s Washington, D.C., office arranged the financing on behalf of the borrower, AION Partners. The two loans have floating interest rates and interest-only periods. AION will repay existing debt and use the funds to make capital improvements on the two multifamily properties.
RESTON, VA. — Mesa West Capital has provided a $27 million loan for the refinancing of the Westin Reston Heights, a 191-room hotel in the Washington, D.C., suburb of Reston. Daniel Tanner of Mesa West’s New York office originated the floating-rate loan on behalf of the hotel’s owner, The JBG Cos., which also developed the hotel. Matthew Williams and Joe Donato of Newmark Grubb Knight Frank arranged the financing. Westin Reston Heights, along with a 194-unit residential tower and a 140,000-square-foot office building, anchors the first phase of JBG’s 35-acre Reston Heights mixed-use development. Phase II, which is slated for a 2017 delivery, will feature 400 new apartment units and 88,000 square feet of retail and restaurant space.
WASHINGTON, D.C. — Urban Investment Partners (UIP) and Lubert-Adler Partners have teamed up to acquire Embassy Towers, a 72-unit apartment building located in Washington, D.C.’s Adams Morgan neighborhood, for $13.3 million. The property is located at 1620 Fuller St. N.W. The Embassy Towers Tenant Association has not decided whether the property will remain an apartment building or convert into a condominium project. Alan Davis and Brendan Flood of HFF represented the seller, a family consortium, in the transaction. UIP subsidiaries UIP Property Management Inc. and UIP General Contracting Inc. will handle property management duties and renovations to Embassy Towers, respectively.
PALM SPRINGS, FLA. — Reichel Realty has arranged the lease for Presidente Supermarket, a large Hispanic supermarket chain, to anchor Forest Hill Center, a 150,000-square-foot shopping center located at Forest Hill Boulevard and Congress Avenue in Palm Springs. Beginning in the spring, Presidente will occupy the 45,500-square-foot space that was recently vacated by Winn-Dixie. Presidente’s new 20-year lease is valued at $10 million. Reichel Realty represented the landlord, Four Florida Properties, a family trust, in the lease transaction. Final negotiations are also underway for a national fast food restaurant to develop an outparcel at Forest Hill Center. Presidente Supermarkets has nearly 40 locations from Miami-Dade to Palm Beach counties.
NEW YORK CITY — Kushner Cos. has acquired a 16-building portfolio of Manhattan and Brooklyn multifamily properties for $131.5 million from Stone Street Properties and HIG Realty Partners. The portfolio, which also includes five retail stores, consists of 14 Manhattan buildings totaling 251 units in the Upper East Side, Murray Hill, East Village and Greenwich Village, and two buildings, totaling 40 units, in Brooklyn’s Boerum Hill district.