Property Type

Seniors Housing Community in Metro Atlanta Breaks Ground

by John Nelson April 3, 2015

ACWORTH, GA. — Construction has begun on Celebration Village Acworth with plans to open the 16.5-acre seniors housing community in May 2016. The community includes 114 independent living apartments, 44 apartment homes, 55 assisted living units and 31 memory care apartments. Active Senior Concepts and AgeWell Living developed the Celebration concept. Active Senior Concepts’s developments are located throughout metro Atlanta. AgeWell, located in Palm Beach Gardens, Fla., will operate the community.

April 3, 2015

Industrial Southeast Virginia

Huntington Ingalls Industries Leases 515,486 SF in Hampton Roads Area

by John Nelson April 3, 2015

HAMPTON, VA. — Huntington Ingalls Industries, a publicly traded shipbuilding company, has leased 515,486 square feet of warehouse space in West Park, a business park located at 300 and 500 W. Park Lane in Hampton. Worth Remick, Ashton Williamson and Chamie Burroughs of CBRE|Hampton Roads represented the owner, Boston-based High Street Equity, in the transaction. Clay Culbreth of Cushman & Wakefield | Thalhimer represented the tenant.

April 3, 2015

Academy Sports + Outdoors and Shops at Turtle Creek

Mississippi Retail Southeast

Marcus & Millichap Brokers $16.8M Sale of Shopping Center in Mississippi

by John Nelson April 3, 2015

HATTIESBURG, MISS. — Marcus & Millichap has brokered the $16.8 million sale of Academy Sports + Outdoors and Shops at Turtle Creek, a 98,673-square-foot shopping center located at 6173-6175 U.S. Highway 98 in Hattiesburg. The shopping center is within the 504,000-square-foot Turtle Creek Crossing power center. Built between 2011 and 2012, the shopping center comprises a 75,760-square-foot Academy Sports + Outdoors and two shopping spaces leased to Mattress Express, Massage Envy Spa, Keesler Federal Credit Union, Papa Murphy’s and J. Allan’s. Alvin Mansour and Ryan Gomez of Marcus & Millichap’s San Diego office, along with Anne Williams of the firm’s Memphis office, represented the seller, a private developer based in Texas. The team also represented the buyer, an institutional net lease investor.

April 3, 2015

5-Below-BBB-World-Market-in-Phase-II-Central-TX-Marketplace

Market Reports Retail Texas Texas Market Reports

Waco’s Retail Marches Down I-35, and Texas Takes Notice

by Haisten Willis April 3, 2015

In stark contrast to past years when motorists would fly through Waco on I-35 wondering if anything was happening in this town, the dramatic Twin Signature Bridges across the Brazos River now sit majestically with the backdrop of Baylor University’s brand-new, $325 million McLane Stadium. However, it has become abundantly clear that the stadium is not the only big thing happening in Waco. Anyone who has driven the stretch of I-35 that passes through Waco in the past 24 months has undoubtedly noticed quite a bit of new construction, demolition and site clearing for even more commercial construction. Leading the way is the dramatic increase of national restaurants and retailers that have made their presence known to everyone who used to drive right through, but who now stop, eat and shop in Waco. A primary catalyst of this rise in retail activity has been the release of property along I-35 formerly owned by the Waco Independent School District (ISD). “We witnessed a surge in demand for retail sites along the I-35 Corridor in 2013,” says Jim Peevey, CCIM, a local broker with Central Texas Commercial. “My partner, Andy Sheehy, and I represented Waco ISD in selling three surplus properties on …

April 3, 2015

New Jersey Northeast Office

American Real Estate Partners Buys CenterPointe at Bridgewater for $24.7M

by Amy Works April 3, 2015

BRIDGEWATER, N.J. — American Real Estate Partners has acquired CenterPointe at Bridgewater, a four-building office park located at 1130, 1140, 1150 and 1160 Route 22 East in Bridgewater. The 331,846-square-foot asset sold for $24.7 million. Situated on 20 acres, the property features flexible and highly efficient office space, fitness and food amenities, a conference facility and on-site management. American Real Estate Partners plans to invest $2.7 million in capital improvements to the office campus, including improved finishes and upgrades to elevators, lobby and common areas. At the time of sale, the campus was 54 percent leased, with two buildings 100 percent leased. The property is being acquired by a joint venture sponsored by a discretionary fund managed by American Real Estate Partners and is the fund’s fourth investment. The name of the seller was not disclosed.

April 3, 2015

New York Northeast Retail

Greystone Acquires Retail Development Site in TriBeCa for $17M

by Amy Works April 3, 2015

NEW YORK CITY — Greystone has acquired a retail development site at 108 Chambers St. in Manhattan’s TriBeCa neighborhood. Ashkenazy Acquisition Corp. sold the property for $17 million. Located on the corner of Church and Chambers streets, the site features a 2,000-square-foot building with ground-floor retail space and approximately 12,000 square feet of air rights.

April 3, 2015

Multifamily Northeast Rhode Island

CBRE/NE Brokers Sale of 234-Unit Harbor Village in Rhode Island

by Amy Works April 3, 2015

WAKEFIELD, R.I. — CBRE/New England has brokered the sale of Harbor Village in Wakefield. An affiliate of JRK Property Holdings acquired the 234-unit apartment community, which sold for an undisclosed price. Harbor Village consists of 16 residential buildings and a clubhouse. The residential buildings comprise five two-story direct-entry townhome buildings and 11 three-story garden-style buildings. The property offers one-, two- and three-bedroom units, with an average apartment size of 1,113 square feet. Simon Butler and Biria St. John of CBRE/NE represented the undisclosed seller in the deal.

April 3, 2015

Connecticut Hospitality Northeast

HREC Arranges Sale of Inn at Middletown in Connecticut

by Amy Works April 3, 2015

MIDDLETOWN, CONN. — HREC Investment Advisors has arranged the sale of the Inn at Middletown, located at 70 Main St. in Middletown. Massachusetts-based Linchris Hotel Corp. acquired the 100-room hotel for an undisclosed price. Ketan Patel and Geoff Davis of HREC represented the seller, Middletown Hotel Associates LP, in the transaction.

April 3, 2015

2201-2239-South-Clinton-Ave-South-Plainfield-NJ

Mixed-Use New Jersey Northeast

Marcus & Millichap Arranges $2.8M Sale of Mixed-Use Property in New Jersey

by Amy Works April 3, 2015

SOUTH PLAINFIELD, N.J. — Marcus & Millichap has arranged the sale of a mixed-use property located at 2201-2239 South Clinton Ave. in South Plainfield. The 27,225-square-foot retail property sold for $2.8 million. Built in 1981 and situated on two acres, the property features 22,325 of street-level retail and 4,900 square feet of second floor office space. At the time of sale, the property was 82 percent occupied by eleven tenants. Ben Sgambati, Alan Cafiero and Akiva Milgraum of Marcus & Millichap represented the seller, a developer, and the undisclosed buyer in the transaction.

April 3, 2015

Industrial Midwest Wisconsin

Zilber Property Group to Break Ground on Industrial Spec Buildings in Wisconsin

by Danielle Everson April 2, 2015

KENOSHA, PEWAUKEE AND MENOMONEE FALLS, WIS. — Zilber Property Group will break ground on three industrial spec buildings located throughout southeast Wisconsin this spring. The properties include Zilber Industrial I at Business Park in Kenosha; Zilber Industrial I at RidgeView Corporate Park in Pewaukee; and Zilber Industrial I at Lilly Creek Business Park in Menomonee Falls. The Kenosha property includes 30-foot ceiling heights and will accommodate industrial users ranging from 27,000 to 173,000 square feet. The Pewaukee facility includes 28-foot ceiling heights and will accommodate tenants from 20,000 to 113,000 square feet. Zilber Industrial I at Lilly Creek Business Park in Menomonee Falls will be the first of two industrial facilities to be built at the site. The first facility will include 30-foot ceiling heights and can accommodate users ranging from 22,000 to 146,000 square feet. The second facility will include 30-foot ceiling heights and will be able to accommodate up to 180,000 square feet.

April 2, 2015

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