CHICAGO — Marcus & Millichap has arranged the $2.7 million sale of a 19-unit apartment property in Chicago. The property is located at 900 W. Sunnyside Ave. in Chicago’s Uptown neighborhood. Steve Livaditis and Joseph Scheck of Marcus & Millichap’s Chicago O’Hare office represented the undisclosed seller and buyer, a local investor.
WOODRIDGE, ILL. — HSA Commercial Real Estate has arranged a lease for Wimmer Transportation Services. The Chicago-based trucking and freight delivery company has signed a long-term lease to occupy 17,280 square feet at the newly-completed second phase of Park 355 in Woodridge. The lease is the first at the 180,480-square-foot warehouse facility located along I-355 at 2143 Internationale Pkwy. HSA Commercial, in partnership with Denver-based Industrial Income Trust Park, developed the second phase at Park 355. The property features 30-foot clear ceiling heights, frontage on I-355, an ESFR sprinkler system, 49 exterior truck docks and four drive-in doors. The new 180,480-square-foot distribution center is divisible to 17,280-square-foot suites to accommodate smaller industrial tenants. Timothy Thompson of HSA Commercial Real Estate represented ownership in the lease transaction. Josh Hearne of Cawley Chicago represented Wimmer Transportation Services.
FORT WORTH, TEXAS — Boxer Retail has arranged a lease with Town Center Bingo for 13,464 square feet of retail space at La Gran Plaza Mall in Fort Worth. Beatrice Townsend negotiated the lease on behalf of Boxer. La Gran Plaza is a regional mall located on the northwest corner of Seminary Drive and I-35. The mall includes more than 200 stores.
FLOWER MOUND, TEXAS — MYCON General Contractors has begun construction on the Parkview Commerce Center. Located on the southeast corner of Spinks and Gerault roads, the industrial complex will consist of three buildings totaling 276,054 square-feet. Building 1 is located at 1001 Spinks Road and will span 84,760 square feet. Building 2 is located at 901 Spinks Road and will span 50,590 square feet. Building 3 is located at 900 Gerault Road and will span 140,704 square feet. The three Class A buildings will include curtain wall features, LED lighting, sunshades, canopies and loading docks. All buildings are dock high and provide for flexible office or warehouse uses. Buildings 1 and 2 are designed to accommodate multiple users ranging from 8,000 to 85,000 square feet, while Building 3 is designed for one or two tenants ranging from 38,000 to 141,000 square feet. The project team includes owner/developer EastGroup Properties, Architects-Plus and MYCON General Contractors. The project is slated for completion in the summer of 2015.
CONSHOHOCKEN, PA. — HFF has arranged the sale of, as well as joint venture equity and acquisition financing for, Riverwalk at Millennium, a multifamily community in Conshohocken. A joint venture between Scully Co. and Long Wharf Real Estate Partners, which was arranged by HFF, purchased the 375-unit community from Riverwalk Realty Co. for an undisclosed price. HFF worked on behalf of the buyer to arrange a 10-year, floating-rate loan through Freddie Mac’s CME Program. The securitized loan will be serviced by HFF through its Freddie Mac Program Plus Seller/Servicer program. Situated on 7.9 acres at 309 Washington St., Riverwalk at Millennium features 239 one-bedroom units and 136 two-bedroom units, averaging 923 square feet. Community amenities include a clubhouse with fireplace, billiards and pub room; a resort-style swimming pool with sundeck; river views; a fitness center; and a business center with conference facilities. Mark Thomson, Zac Pierce, Jose Cruz and Kevin O’Hearn of HFF represented the seller in the transaction. Jim Cardranell, Ryan Ade and James Conley of HFF negotiated the financing for the deal.
BOSTON — A partnership between Westmont Hospitality Group and Thomas Tan, a member of the Bestford Hospitality Group, has acquired Battery Wharf Hotel, which is part of a mixed-use development in Boston’s North End, for an undisclosed price. Located on the Boston Waterfront, the property features the 150-room hotel, the 13,000-square-foot Exhale Spa, a pocket Maritime Museum, a 24-hour observation deck and more than 15,000 square feet of retail and restaurant space. The buyers plan to upgrade the hotel with new facilities and services. The hotel features 6,000 square feet of meeting space, a fitness center and Aragosta Bar & Bistro. Additional terms of the transaction were not released. Located on the Boston Waterfront, the 150-room Battery Wharf Hotel features a Presidential Suite (pictured).
ORADELL, N.J. — NorthMarq Capital has arranged $16.5 million in refinancing for the New Jersey Health Care Center in Oradell. Located at 680 Kinderkamack Road, the property offers 75,000 square feet of medical office space. The transaction features a 10-year term and a 30-year amortization rate. Gregory Nalbandian of NorthMarq’s New Jersey office arranged the financing for the undisclosed borrower through NorthMarq’s correspondent relationship with Sentinel Investments.
NEW YORK CITY — Marcus & Millichap has brokered the sale of an apartment building located at 153 Eagle St. in Brooklyn. The six-unit property sold for $1.7 million. Shaun Riley, James Saros and Michael Salvatico of Marcus & Millichap’s Brooklyn office represented the seller and buyer, both of which are private investors, in the transaction.
BELLEVUE, WASH. – Overlake Shopping Center, a 49,167-square-foot, grocery-anchored center in Bellevue, has sold to Panos Properties for $30 million. The fully leased property is located at 15555-15585 NE 24th Street. It is anchored by Trader Joe’s, PetSmart and Walgreens, the seller. Walgreens signed a 20-year lease with Panos as part of the sale-leaseback transaction. Panos Properties was represented by Reynolds Haas of Colliers International. Walgreens was represented by Lauren Powell of Powell Development Company in this off-market transaction.
RANCHO CUCAMONGA, CALIF. – A 39,600-square-foot office building in Rancho Cucamonga has sold to CFRE Holdings LLC for $13.4 million. The building is located at 8163 Rochester Ave. CFRE was represented by Cathy Jones, Paul Miachika, Jessica Cegavske and Roy Fritz of Sun Commercial Real Estate. The seller, 8163 Rochester Partners LLC, was represented by Isaiah Harf of Stan Johnson Company.