Property Type

Cooper Commercial Arranges the $2.9M Sale of Retail Center in Logansport, Ind.

by Danielle Everson January 23, 2015

LOGANSPORT, IND. — The Cooper Commercial Investment Group has arranged the $2.9 million sale of an 18,600-square-foot retail property in Logansport, approximately 30 miles northeast of Lafayette. Cass County Commons is located at the corner of Mall Road and Lexington Road. Wal-Mart shadow anchors the property. Tenants include Buffalo Wild Wings, Maurice’s, Great Clips, Petsense and Arnold’s Jewelry. Dan Cooper of Cooper Commercial’s Cleveland office represented the seller, an Indiana-based private investor. A Connecticut-based private investment group purchased the property.

January 23, 2015

Industrial Midwest Missouri

Sansone Group Arranges 29,231 SF Industrial Lease for JW Logistics in Maryland Heights, Mo.

by Danielle Everson January 23, 2015

MARYLAND HEIGHTS, MO. — The Sansone Group/CORFAC International has arranged the lease of a 29,231-square-foot industrial space for JW Logistics LLC in Maryland Heights, a suburb of St. Louis. The property is located at 11401-11445 Moog Dr. The industrial space is near I-270 and Page Avenue. JW Logistics will use the warehouse space as a packaging and staging area to serve one of its main corporate clients. Vince Bajardi of The Sansone Group/CORFAC International represented JW Logistics in the lease.

January 23, 2015

Hospitality Texas

Paris Regional Medical Center to Add 40,000 SF in North Texas

by Haisten Willis January 23, 2015

PARIS, TEXAS — Construction will begin this summer on a new addition to the campus of Paris Regional Medical Center (PRMC). The groundbreaking for the Paris Regional Medical Pavilion, a 40,000-square-foot medical office building, is slated for this summer. The new facility, which will connect to the main hospital, is designed to expand the range of services and improve accessibility for patients of northeast Texas and southeast Oklahoma. PRMC plans to occupy 60 percent of the new facility. Once complete, patients will have access to primary care, specialty care, laboratory and other services. Rendina Healthcare Real Estate will develop the project. Construction is expected to last approximately 10 months. The first phase of construction will coincide with the demolition of two vacant hospital buildings, which is a part of PRMC’s overall goal to enhance the campus environment and free up space for future expansion.

January 23, 2015

Restaurant Retail Texas

M&M Arranges Sale of 3,500 SF Net-Leased Property in Midland

by Haisten Willis January 23, 2015

MIDLAND, TEXAS — Marcus & Millichap has arranged the sale of Chick-fil-A, a 3,500-square-foot net-leased property in the west Texas city of Midland. Geoff Ficke and Neal Waldman of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a limited liability company. Alvin Mansour of the firm’s San Diego office procured the buyer, a private investor. Chick-fil-A is located at the northwest corner of Village Circle and South Garfield Street at 25 Village Circle. The property was built in 2012 and sits on more than one acre. The asset is within walking distance to Midland Memorial Hospital and is less than one mile south of Midland High School. At the time of listing, 13 years remained on the original 15-year corporately guaranteed ground lease.

January 23, 2015

Retail Texas

Coldwell Banker Arranges Sale of Convenience Store in San Jacinto

by Haisten Willis January 23, 2015

SAN JACINTO, TEXAS – Coldwell Banker Commercial United has arranged the sale of a 5,136-square-foot gas station/convenience store and Village Pizza in San Jacinto, 58 miles north of Houston. The property is located at 11037 Market St. Daniel Bekele of Coldwell Banker represented the seller, a bank. The buyer was unnamed.

January 23, 2015

Industrial Office Texas

Ascension Properties Purchases Two Commercial Properties in Metro Dallas

by Haisten Willis January 23, 2015

FORT WORTH AND CARROLLTON, TEXAS — Ascension Properties LP has purchased two properties located in Fort Worth and Carrollton. The purchase is the result of a 1031 tax-deferred exchange from the sale of Ascension Point Condominiums in August 2014. The first property is an office building built in north Fort Worth in 2004. Ascend Alliance LP sold the 20,100-square-foot building. Marty Rader with DFW Realty Partners LLC represented the seller in the transaction. Steve Fithian with Sperry Van Ness/Visions Commercial represented Ascension in the transaction. The other property is an industrial building located at 2420 Tarpley Road in Carrollton. Beltwood I & II Ltd., and Belmeade Tarpley Ltd., were the sellers. The property spans 58,700 square feet and was built in 1983. David Cook with Sperry Van Ness/David Cook Co. represented the seller. Fithian represented Ascension in the sale.

January 23, 2015

Office Texas

Vista Investment Group Purchases Office Building in Austin

by Haisten Willis January 23, 2015

AUSTIN — An investment group formed by Vista Equities Group and Vista Private Equity Group has purchased Park Central, a three-story, 115,000-square-foot Class A office building. The building is located in north central Austin in close proximity to I-35 and Parmer Lane. The property was built in 2008 and was 83 percent leased at the time of the acquisition. Austin-based ECR will handle leasing responsibilities for Park Central. Vista Management Co. will provide property management services. GE Capital Corp. arranged financing, and Tyler Ford of HFF’s Houston office arranged the transaction.

January 23, 2015

New York Northeast Office

JV Breaks Ground for 55 Hudson Yards Office Tower

by Amy Works January 23, 2015

NEW YORK CITY — Mitsui Fudosan American Inc., Related Cos. and Oxford Properties Group have partnered for the full capitalization of 55 Hudson Yards. The joint venture has broken ground for construction of the office tower, which will be located at 33rd Street and 11th Avenue on Hudson Park and Boulevard. Situated within the 28-acre Hudson Yards development, the 51-story, 1.3 million-square-foot building is slated for tenant fit-out in 2017. Designed by A. Eugene Kohn and Kohn Pederson Fox Associates, the property is anticipated to achieve LEED Gold certification upon completion. Upon build out, Hudson Yards will include more than 17 million square feet of commercial and residential space, more than 100 shops and restaurants, approximately 5,000 residences, a cultural space, 14 acres of public open space, a 750-seat public school and a 175-room luxury hotel.

January 23, 2015

Hospitality Loans New York Northeast

HFF Closes $22.4M Ground Sale/Leaseback, Secures $21M Loan for Holiday Inn Manhattan View

by Amy Works January 23, 2015

NEW YORK CITY — HFF has brokered the $22.4 million sale/leaseback and arranged $21 million in financing for Holiday Inn Manhattan View, a full-service hotel located in Long Island City in Queens. A New York-based private investor purchased the land under the hotel and then leased it back to the seller, Queens Plaza North LLC, for 99 years. HFF secured the fixed-rate loan through Cantor Commercial Real Estate (CCRE for Queens Plaza North LLC. Located at 39-05 29th St., the 16-story, 136-key hotel features a full-service restaurant, lounge with patio space, state-of-the-art fitness center, business center, 800 square feet of meeting space, concierge services, on-site parking and views of Manhattan. Robert Delitsky, KC Patel, Jackie Ferrer and Cindy True of HFF represented the seller in the transaction.

January 23, 2015

Multifamily Northeast Pennsylvania

UMH Properties Buys Multifamily Community for $3.8M in Pennsylvania

by Amy Works January 23, 2015

ERIE, PA. — UMH Properties has acquired Holly Acres, a manufactured home community in Erie, for $3.8 million. Situated on 40 acres, the community consists of 141 developed home sites. The average occupancy for the community is 96 percent. With this acquisition, UMH own 89 communities totaling approximately 15,200 developed home sites. Additional terms of the deal were not released.

January 23, 2015

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