Property Type

Vanguard Arranges Sale of Office Building in Metro Dallas

by Haisten Willis January 19, 2015

ROCKWALL, TEXAS — Vanguard Real Estate Advisors, a Dallas-based real estate advisory firm, has arranged the sale of the Rockwall Commons office building. The property is located in the Dallas suburb of Rockwall. Jordan Cortez of Vanguard marketed the asset on behalf of an affiliate of the seller, Tabani Group. Bowman Investment Group LLC was the buyer. The Class A property was built in 2008 in conjunction with the Rockwall Commons mixed-use development, which includes a 202-unit luxury apartment community and retail suites located along Ridge Road, 1.5 miles north of I-30. The building was 100 percent leased at the time of sale to a mix of national and local tenants. The buyer assumed an existing CMBS loan as part of the transaction.

January 19, 2015

Boulder Group Arranges Sale of Retail Property in Metro Austin for $2.3 Million

by Haisten Willis January 19, 2015

PFLUGERVILLE, TEXAS — The Boulder Group has arranged the $2.3 million sale of an Advance Auto Parts property located at 1313 FM 685 in Pflugerville, a suburb of Austin. The brand-new, 6,895-square-foot building is located across the street from a Walmart Supercenter. Advance Auto Parts has 15 years remaining on their absolute net lease, which features 9 percent rental escalations in each renewal option period. The buyer and seller were unnamed.

January 19, 2015

Multifamily Texas

Robert Faust Co. Arranges Equity for Apartment Complex in San Antonio

by Haisten Willis January 19, 2015

SAN ANTONIO — Robert Faust Mortgage Co. has arranged an equity investment for the Twin Creeks Ranch apartment project in San Antonio. The project will be the first phase of a two-phase project. Phase I will span 300 units located on 17 acres at the southeast corner of Alamo Ranch Parkway and Lone Star Parkway, which is the main intersection into Alamo Ranch. This is one block west of Loop 1604 and U.S. Highway 151. The developer will be SWBC Real Estate, which is owned by Southwest Business Corp. Robert Faust Mortgage Co. has been active in providing financing in San Antonio for a number of years. This year the Dallas-based company celebrated 38 years in business. The first units should be completed in spring 2016.

January 19, 2015

Michigan Midwest Retail

M&M Arranges $15.2M Sale of Kroger-Anchored Shopping Center in Westland, Mich.

by Danielle Everson January 19, 2015

WESTLAND, MICH. — Marcus & Millichap has arranged the $15.2 million sale of Cherry Hill Marketplace, a 120,568-square-foot shopping center in Westland, approximately 16 miles west of Detroit. Cherry Hill Marketplace is located at 124-210 S. Merriman Road. Kroger anchors the shopping center. Other tenants include Kroger Fuel, CVS, Ace Hardware, Advance America, Great Clips and H&R Block. The property was 84 percent occupied at the time of sale. Steven Siegel of the Marcus & Millichap’s Manhattan office, and Simon Jonna and Ashish Vakhariya of the firm’s Detroit office represented the institutional seller and procured the buyer, also an institution.

January 19, 2015

Illinois Midwest Multifamily

Interra Realty Brokers $7.1M Sale of Apartment Building in Chicago

by Danielle Everson January 19, 2015

CHICAGO — Interra Realty has brokered the $7.1 million sale of a 21-unit elevator apartment building in Chicago’s Avondale community. The property is located at 2902-10 W. Belmont Ave. The apartment building includes two- and three-bedroom layouts and a first-floor parking garage. Joe Smazal and James Clough of Interra Realty represented the seller, a local developer. Ted Stratman of Interra Realty represented the buyer, a venture of CLK Properties, a New York-based investor.

January 19, 2015

Illinois Midwest Office

IMPACT Strategies Completes Construction on TAMAR II Office Building in Shiloh, Ill.

by Danielle Everson January 19, 2015

SHILOH, ILL. — IMPACT Strategies has completed construction of the TAMAR II Office Building in Shiloh. The property is located at 1116 Hartman Lane. The $2 million project began in July 2014 and was completed three weeks ahead of its scheduled completion in January. TAMAR Properties is the owner and developer. The office building will primarily serve as HSHS Medical Group’s new 5,500-square-foot multi-specialty medical clinic. The building’s additional space will be occupied by Fulford Homes starting in March. IMPACT Strategies project manager Will Stajduhar managed the project along with project assistant Kari Stevens and superintendent Jason Jones. EWR Associates Inc. of Fairview Heights provided architectural services for the project.

January 19, 2015

Illinois Midwest Multifamily

Essex Realty Group Brokers Sale of 25-Unit Apartment Building in Chicago

by Danielle Everson January 19, 2015

CHICAGO — Essex Realty Group Inc. has arranged the $690,000 sale of an apartment property in Chicago. The 25-unit courtyard building is located at 7038 S. Chappel Ave. in Chicago’s South Shore neighborhood. The property is situated just one half-block from the intersection of the 71st Street commercial corridor and Jeffery Boulevard. Doug Imber and Bob O’Connell of Essex represented the seller and Jordan Gottlieb of Essex represented the buyer in the transaction.

January 19, 2015

Illinois Midwest Retail

STREAM Capital Partners Completes Sale of Floor & Decor Property

by Danielle Everson January 19, 2015

SKOKIE, ILL. — STREAM Capital Partners has brokered the sale of a 73,000-square-foot retail property in Skokie. The property is under a long-term lease to Floor & Decor, a national retailer of flooring and tile products. Clark Street Development, a Chicago-based real estate company, sold the property to a private REIT for an undisclosed sales price. Jonathan Wolfe and Jordan Shtulman of STREAM Capital Partners represented the seller.

January 19, 2015

Arizona Multifamily Western

Midtown on Main Apartments in Mesa Sells for $35M

by Nellie Day January 19, 2015

MESA, ARIZ. — A joint venture between Domain Acquisitions and BH Equities has acquired the 472-unit Midtown on Main Apartments in Mesa for $35 million. The Class B community is located at 2121 West Main Street. Midtown is situated southeast of the Loop 101 and 202 interchange, and west of Dobson Road. It is located directly on the Metro Light Rail line that connects Mesa to Tempe, Sky Harbor International Airport and Metro Phoenix. Common-area amenities include a 10,000-square-foot recreation facility with indoor basketball and racquetball courts, three swimming pools, sand volleyball court, covered children’s play area and gas barbecue facilities. The seller was Bay Club Partners. The transaction was executed by Cindy and Brad Cooke of the Colliers Cooke Team.

January 19, 2015

California Office Western

ASML US Leases Space at THE Campus in San Jose

by Nellie Day January 19, 2015

SAN JOSE, CALIF. – ASML US has leased 92,842 square feet of creative office space at THE Campus in San Jose. The property is located at 399 Trimble Road. This building is also occupied by Verizon Corporate Services. ASML US was represented by Jeff Ramirez of Newmark Cornish & Carey. Bixby Land Company was represented by CBRE’s Christian Marent, Rob Shannon and Vincent Scott.

January 19, 2015

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