Property Type

Coral Gables Streetscape Project Mixed-Use

Coral Gables’ $20M Streetscape Design Phase Begins

by John Nelson February 2, 2015

CORAL GABLES, FLA. — The city of Coral Gables has selected Cooper, Robertson & Partners of New York to design its Streetscape Project in downtown Coral Gables. The selection marks the start of the design phase of the much-anticipated project, which will provide a facelift to Miracle Mile and Giralda Avenue. The approximately $20 million project, which received the go-ahead from the City Commission last August, will widen sidewalks, plant trees, create garden areas and add outdoor dining along newly landscaped curbs. The plan also calls for benches, kiosks, mid-block parks, intimate public spaces and plazas for events and gatherings. It will also feature better signage for businesses and parking garages, more welcoming connections to garages and alleyways and permanent valet stations.

February 2, 2015

Florida Multifamily Seniors Housing Southeast

Capital Health Group, Fortress to Build Memory Care Facility in St. Augustine

by John Nelson February 2, 2015

ST. AUGUSTINE, FLA. — Capital Health Group LLC and Fortress Ventures LLC have formed a joint venture to develop a 64-bed memory care community on nine acres of land located at 840 State Road 16 in St. Augustine. The land was purchased by the venture in December 2014, and the new facility is scheduled to open in the second quarter of 2016. Symphony Manor at St. Augustine will be a single-story facility with a secure memory care courtyard, large activity space, surround sound theater with an 80-inch screen and a dining room. Resident apartments will have cable TV, Wi-Fi, 24-hour emergency call systems, walk/roll-in showers and individual thermostats. Symphony Manor will also offer residents 24-hour staffing, dining services, concierge assistance, linen services, housekeeping, daily entertainment, fitness programming, educational services, social events and a private town car for resident appointments. Compass Pointe Healthcare System will manage Symphony Manor at St. Augustine.

February 2, 2015

North Carolina Office Southeast

Chambers Street Properties Completes $16.4M Sale of Office Building in Cary

by John Nelson February 2, 2015

CARY, N.C. — Chambers Street Properties has completed the $16.4 million sale of Regency Creek I, a 122,087-square-foot office building located in Cary. The four-story property is located at 12040 Regency Parkway. The building is 100 percent leased and serves as the North American headquarters for ABB, a leading power and automation technology company. The buyer, Intercontinental Real Estate Corp., assumed mortgage loans of approximately $8.6 million in the transaction. This property was included in the Chambers Street’s joint venture with Duke Realty Corp. and the sales price represents Chambers Street’s 80 percent share. Ben Kilgore and Jeff Glenn of CBRE|Raleigh represented Duke Realty in the transaction.

February 2, 2015

Florida Retail Southeast

Continental Realty Corp. Buys Metro Orlando Shopping Center for $10.1M

by John Nelson February 2, 2015

ORLANDO, FLA. — Baltimore-based Continental Realty Corp. has purchased Towne Square Shopping Center, a 126,000-square-foot retail center located at 11029 W. Colonial Drive in Ocoee, a suburb of Orlando. Continental Realty purchased the asset for $10.1 million through CRC Fund III LP, the company’s value-add retail and multifamily investment fund. The center is currently 95 percent occupied and is anchored by an Old Time Pottery. Ray Turchi of Marcus & Millichap’s Orlando office represented the seller, a private investor based in New York, in the transaction. Charlie Boscarino of Retail Solutions Advisors has been selected as the exclusive leasing broker for the center.

February 2, 2015

Illinois Midwest Office

GLL Real Estate Partners Buys 18-Story Chicago Office Tower

by Danielle Everson February 2, 2015

CHICAGO — GLL Real Estate Partners has purchased 550 W. Adams, an 18-story office building in the West Loop area of downtown Chicago. The seller was SEB Asset Management, an established Frankfurt, Germany-based real estate manager, which had owned the property since it opened in 2006. The purchase price was undisclosed, but Crain’s Chicago reports that the office tower sold for $185 million. The 483,677-square-foot tower is currently 94 percent leased and is anchored by the global headquarters of USG Corp., a producer of high performance buildings systems. Other major tenants include the law firm of Lewis, Brisbois, Bisgaard & Smith LPP, healthcare provider Humana HealthPlan and JP Morgan, which recently renewed its lease and, like USG, will remain a tenant on a long-term lease.

February 2, 2015

Multifamily Texas

Dougherty Arranges $3.6M Loan for Apartment Complex in Dallas

by Haisten Willis February 2, 2015

DALLAS — Dougherty Mortgage LLC has arranged a $3.6 million Fannie Mae loan for the refinancing of Oak Hollow Apartments, a 160-unit multifamily affordable housing property located in Dallas. The 10-year loan includes a 30-year amortization schedule. Dougherty’s Dallas office arranged the loan for the borrower Dallas Oak Hollow Apartments Ltd.

February 2, 2015

Industrial Michigan Midwest

Friedman Arranges Lease of 60,000 SF Industrial Space in Detroit

by Danielle Everson February 2, 2015

DETROIT — Friedman Integrated Real Estate Solutions has arranged the lease of a 60,000-square-foot industrial space located at 4335 W. Fort St. in Detroit. The landlord, JLK Real Estate Holdings, leased the building to Xenith LLC. The Lowell, Mass.-based company is a supplier of helmets that reduces the risk and severity of concussions and other traumatic brain injuries. Mike Koenigbauer of Friedman represented the tenant in the lease transaction.

February 2, 2015

Industrial Michigan Midwest

L. Mason Capitani Brokers Sale of 37,920 SF Industrial Building in Auburn Hills, Mich.

by Danielle Everson February 2, 2015

AUBURN HILLS, MICH. — L. Mason Capitani CORFAC International has arranged the sale of a 37,920-square-foot industrial building in Auburn Hills. Although the final sale price was not disclosed, the asking price for the property was $975,000. Maple Mold Technologies purchased the property located at 2170 Walton Blvd. Maple Mold specializes in production molds, checking fixtures, small mold parts and prototypes. Garry Rogers and Jason Capitani of L. Mason Capitani represented both the buyer and seller in the transaction.

February 2, 2015

Industrial Texas

NAI Partners Arranges 23,000 SF Industrial Lease in Metro Houston

by Haisten Willis February 2, 2015

SUGAR LAND, TEXAS — NAI Partners has arranged a lease of 23,000 square feet of new industrial space located at 12630 W. Airport Blvd. in Sugar Land. ColFin leased the space to 2020 Exhibits. Ed Bane, Jon Michael and Jake Wilkinson of NAI Partners represented the landlord, ColFin. Chris Caudill, also of NAI Partners, represented the tenant, 2020 Exhibits, in the lease negotiations.

February 2, 2015

Office Texas

Signature Office REIT Arranges Lease in Metro Dallas

by Haisten Willis February 2, 2015

IRVING, TEXAS — Signature Office REIT Inc. has arranged a 10-year lease for NEC Corp. of America (NEC) in Irving. NEC will occupy space within the 119,611-square-foot Royal Ridge V building located at 3929 W. John Carpenter Freeway. Beginning on Dec. 1 of this year, NEC will relocate its U.S. headquarters to Royal Ridge V. NEC is a technology integrator of advanced IT and communications solutions. Mike Wyatt and Bill McClung of Cushman & Wakefield represented NEC in the transaction. Nathan Durham and Fletcher Cordell of Transwestern represented Signature. Signature is a self-managed, non-traded public real estate investment trust focused primarily on core office real estate.

February 2, 2015

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