Property Type

Rittenhouse Capital Advisors Secures $8.2M Loan for West Chester Apartment Building

by Amy Works April 21, 2015

WEST CHESTER, PA. — Rittenhouse Capital Advisors has provided $8.2 million in long-term, fixed-rate financing for The Chestnut Street Lofts in West Chester. The loan features an 80 percent loan-to-value, a 10-year 3.95 percent fixed rate and a 30-year amortization schedule. The borrower is StanAb LP, the project’s developer. Constructed in 2014, the 60-unit property features open floor plans, modern kitchens and bathrooms, and outdoor balconies. On-site community amenities include a community room, fitness center and on-site parking.

April 21, 2015

New York Northeast Restaurant Retail

Sovereign Realty Group Brokers Sale of Burger King Property in New York

by Amy Works April 21, 2015

SMITHTOWN, N.Y. — Sovereign Realty Group has brokered the sale of a freestanding Burger King property located at 942 West Jericho Turnpike in Smithtown. Situated on 2 acres, the 3,610-square-foot property sold for $2.5 million. The property was formerly occupied by a Wendy’s and sat vacant for many years until a local Burger King franchisee signed a long-term lease for the property. Frank Caporrino and Clem Cote of Sovereign Realty Group represented the buyer and seller in the transaction. The names of buyer and seller were not released.

April 21, 2015

Illinois Loans Midwest Multifamily

Oak Grove Capital Arranges $27.9M Construction Loan in Chicago

by Danielle Everson April 21, 2015

CHICAGO — Oak Grove Capital has arranged $27.9 million in construction financing for a 120-unit, mid-rise luxury apartment building in Chicago. The site for the market-rate apartments is located at 2211 N. Milwaukee Ave. in Chicago’s Logan Square neighborhood. Principal Real Estate Investors provided the financing for the borrower, New York City-based Property Markets Group (PMG). Ryan Cahalan of Oak Grove Capital arranged the loan for the borrower.

April 21, 2015

Illinois Midwest Office

M&M Brokers $8.6M Sale of Crown Corporate Center in Gurnee, Ill.

by Danielle Everson April 21, 2015

GURNEE, ILL. — Marcus & Millichap has brokered the $8.6 million sale of Crown Corporate Center, a four-building, single-story office portfolio in Gurnee. The property is located at 1275-1425 Tri State Parkway. The properties were built between 1989-1998 and total 156,765 rentable square feet. The asset is 51 percent leased to six tenants. The portfolio is located immediately off of I-94 across from Gurnee Mills Shopping Outlet Mall. Stephen Lieberman of Marcus & Millichap represented the seller, New York-based Crown Properties. Bridgeview, IIl.-based Costa Construction purchased the property in a 1031 exchange.

April 21, 2015

Midwest Ohio Retail

Mid-America Arranges Sale of Waynetown Plaza in Huber Heights, Ohio

by Danielle Everson April 21, 2015

HUBER HEIGHTS, OHIO — Mid-America Real Estate Corp. has arranged the sale of Waynetown Plaza located in Huber Heights, a suburb of Dayton. Baltimore-based Broad Reach Retail Partners purchased the 192,332-square-foot, grocery-anchored center. Waynetown Plaza is located at the southwest corner of Old Troy Pike (State Route 22) and I-70. Kroger anchors the shopping center. Other tenants include a Buffalo Wild Wings, TGI Friday’s, Chipotle, Burger King and Davita Dialysis. Ben Wineman of Mid-America and Chris Conley of Oberer Realty Services Ltd. represented the seller, a private investment group.

April 21, 2015

Midwest Nebraska Retail

Block & Co. Arranges 44,327 SF Lease for Best Buy in Omaha, Neb.

by Danielle Everson April 21, 2015

OMAHA, NEB. — Block & Co. Inc. Realtors in Kansas City has arranged a 44,327-square-foot retail lease for Best Buy in Omaha. The electronics store will occupy space at Heritage Plaza Shopping Center at 115 N. 76th St. Other tenants at the shopping center include Buffalo Wild Wings, Chuck E. Cheese’s, Charleston’s Restaurant and Command Center. Best Buy plans to open during the fourth quarter. David Block of Block & Co. negotiated the lease transaction on behalf of the landlord.

April 21, 2015

Mixed-Use Texas

Community Park Opens at Retail Development in Dallas

by Haisten Willis April 21, 2015

DALLAS — The Park has opened in The Shops at Park Lane. The 10,000-square-foot park includes an open green space, an interactive fountain for kids, along with seating areas, power outlets and free Wi-Fi. Tenants including Starbucks and Zoës Kitchen feature outdoor patios overlooking The Park. The area will host events and activities including yoga, movie nights, live music and more. The Shops at Park Lane is a 33.5-acre mixed-use development.

April 21, 2015

Retail Texas

Henry S. Miller Brokers Land Sale in Metro Dallas

by Haisten Willis April 21, 2015

GRAPEVINE, TEXAS — Bill Bledsoe of Henry S. Miller Brokerage’s Investments and Land Division represented Classic Chevrolet in the purchase of 11.2 acres in Grapevine. Located off State Highway 121 at Stone Myers Parkway, the land will be used for business expansion. Bledsoe represented the buyer. Bruce Harbour of Harbour Realty represented the seller, a local partnership group.

April 21, 2015

Retail Texas

SRS Arranges Sale of Retail Property in Tulsa for $8.8 million

by Haisten Willis April 21, 2015

TULSA, OKLA. — The SRS Southeast Investment Sales team has arranged the sale of a 53,210-square-foot property in Tulsa. The property, which is currently occupied by Virginia College, is located at 5124 S. Peoria Ave. The seller, OK Tulsa South Peoria LLC, sold the property to GPROP LLC for $8.8 million. Virginia College, a wholly owned subsidiary of Education Corp. of America, offers diplomas, associate’s degrees, bachelor’s degrees and master’s degrees. Kyle Stonis and Pierce Mayson in the SRS Atlanta office and Josh Burmeister with JLL represented the seller in the transaction. Chris Anderson with The Grant Group represented the buyer in the transaction.

April 21, 2015

Multifamily Texas

Allied Orion Group Breaks Ground on Apartment Complex in Metro Houston

by Haisten Willis April 21, 2015

CONROE, TEXAS — Allied Orion Group has broken ground on Harper’s Retreat, a new 216-unit apartment home community located in Conroe. Targeted to open in late 2015, Harper’s Retreat is the first multifamily luxury property being built in the Harper’s Preserve master-planned community. Allied Orion Group is the developer. Meeks + Partners designed the project. Harper’s Retreat is located at 17011 Harpers Way. With access to I-45 and Highway 242, the apartment community is near The Woodlands, area parks, Lake Conroe and downtown Houston. The property will include one- and two-bedroom units that will feature granite countertops, stainless steel appliances, wood flooring and ceramic tile. Amenities will include a swimming pool, cabanas, grilling stations, state-of-the-art wellness/fitness center, dog park, clubhouse and cyber café with Wi-Fi access.

April 21, 2015

Newer Posts

Older Posts