Property Type

Evergreen Property Trust Buys Two-Building Industrial Facility in Pennsylvania

by Amy Works January 12, 2015

CAMP HILL, PA. — Evergreen Property Trust LLC has purchased a two-building industrial property in Camp Hill from IndCor Properties in an off-market transaction for an undisclosed price. The transaction includes the 24,000-square-foot property at 2400 Gettysburg Road and the 124,000-square-foot facility at 2404 Gettysburg Road. Both properties are currently occupied and plans have been submitted for a 43,000-square-foot expansion at 2404 Gettysburg Road. Pat McBride, Adam Campbell and Gerry Blinebury of Cushman & Wakefield’s Harrisburg office, along with Leah Balerno and Marie Connell of the firm’s Philadelphia office, represented IndCor in the deal. Jason Grace of Landmark Commercial Realty represented the buyer in the transaction.

January 12, 2015

Healthcare Northeast Pennsylvania

Cambridge Healthcare Solutions Awarded Contract to Build New VA Facility in Pennsylvania

by Amy Works January 12, 2015

BUTLER, PA. — Cambridge Healthcare Solutions PA LP, a joint venture between Halle Enterprises and Cambridge Healthcare Solutions, has received a contract to design, build and manage a VA Health Care Center in Butler. Situated on 46 acres off North Duffy Road, the two-story, 218,000-square-foot center will provide outpatient services to veterans and their families, including primary care, specialty care, dental, lab, pathology, radiology, mental healthcare, ancillary and diagnostic services. Cambridge Development Group, a subsidiary of Cambridge Holdings, will act as the developer for the project. The center is expected to open in 2018.

January 12, 2015

Loans Massachusetts Northeast Retail

NorthMarq Capital Arranges $10.3M in Refinancing for Massachusetts Retail Property

by Amy Works January 12, 2015

MILFORD, MASS. — NorthMarq Capital has arranged $10.3 million in refinancing for Quarry Place II, a retail property located at 99-103 Cedar St. in Milford. The 55,000-square-foot property is anchored by The Sports Authority. The transaction was structured with a 10-year term and 25-year amortization schedule. Joseph Hegenbart and Ryan Demadis of NorthMarq Capital’s Boston office arranged the financing for the borrower, Quarry Place II LLC, through NorthMarq’s relationship with a regional bank.

January 12, 2015

Retail Texas

Construction Completed on BMW Dealership in Fort Worth

by Haisten Willis January 12, 2015

FORT WORTH, TEXAS — Speed Fab-Crete has completed a 26,250-square-foot BMW dealership in Fort Worth. The property is located at 2828 White Settlement Road. The dealership consists of a rooftop parking structure, sky bridge and a 43-foot-tall clock tower. The parking structure was built using fabricated structural steel and concrete and is located on the roof of the existing Autobahn BMW new car showroom and service facility. It is linked to the adjacent Autobahn BMW Pre-Owned facility’s rooftop parking space by the sky bridge. Since 1996, Speed Fab-Crete has completed more than 300,000 square feet of new construction and renovation projects for Autobahn Motor Group. Fort Worth-based architectural firm Callahan & Freeman designed the clock tower. The project team also included Hurst, Texas-based Metro Structural Consultants Inc., Grand Prairie, Texas-based Pavecon, Granbury, Texas-based Rockin S Construction Co. Inc., Fort Worth-based Williams Electric and Everman, and Texas-based Williams Air Conditioning & Heating Inc.

January 12, 2015

Signorelli-Company-The-Shops-at-Aspen-Creek

Mixed-Use Texas

Signorelli Co. Sells Land for Mixed-Use Development in Metro Tulsa to Griffin Properties

by Haisten Willis January 12, 2015

BROKEN ARROW, OKLA. — The Signorelli Co. has sold a 12.2-acre site for a mixed-use development known as The Shops at Aspen Creek to Griffin Properties of Fort Smith, Ark. The Shops at Aspen Creek is planned to include more than 1 million square feet of shopping, dining and entertainment options. The site is located 12 minutes from downtown Tulsa in Broken Arrow. Construction of the 277-unit apartment complex, named The Reserve at Aspen Creek, is planned to begin in June, with the opening anticipated in mid-2016. Situated at the east end of The Shops at Aspen Creek, with entrances from West Tucson Street and West Aspen Creek Drive, the complex will be three stories tall. Trinity Multifamily, the operating partner of Griffin Properties, will manage the apartments. The entertainment anchor at The Shops at Aspen Creek includes the Warren Theatre, a new 18-screen movie theatre boasting a screen 100 feet wide and 50 feet tall. The theatre opened in December.

January 12, 2015

Multifamily Texas

HLC Equity Purchases 154-Unit Apartment Complex in Metro Dallas

by Haisten Willis January 12, 2015

GRAND PRAIRIE, TEXAS — HLC Equity has purchased Windscape Apartments, a 154-unit, Class-B, garden-style apartment complex in Grand Prairie. Mosaic Realty Partners will co-manage the property along with an HLC Equity affiliate. Windscape is less than a 30-minute drive from both Dallas and Fort Worth. The property is located near several major highways and mass transit options. It also includes access to Globe Life Park, AT&T Stadium and a Six Flags Over Texas. Amenities at the property include a clubhouse, 24-hour fitness center, swimming pool, Jacuzzi, waterfall and a barbecue/picnic area.

January 12, 2015

Hospitality Midwest Missouri

HREC Arranges Sale of Crowne Plaza St. Louis

by Danielle Everson January 12, 2015

ST. LOUIS — HREC Investment Advisors has arranged the sale of the 440-guestroom, full-service Crowne Plaza St. Louis Hotel in St. Louis. 200 STL Holdings LLC purchased the property for an undisclosed sales price. The 29-story hotel is located directly across from Jefferson National Expansion Memorial Park and includes views of the Gateway Arch, Mississippi River and St. Louis skyline. The buyer plans to convert the property into a mixed-use project, with a 140-key boutique hotel and 300 residential units. Geoff Davis and Ted Anka of HREC Investment Advisors, along with Scott Kaniewski of SVP – Chicago, represented Hallmark Hotels LLC in the transaction.

January 12, 2015

Arizona Retail Western

Weingarten Nostat Buys Scottsdale Horizon Shopping Center

by Nellie Day January 12, 2015

SCOTTSDALE, ARIZ. – Weingarten Nostat has acquired Scottsdale Horizon Shopping Center, a 154,766-square-foot neighborhood shopping center, for an undisclosed sum. The center is located at 14850 N. Frank Lloyd Wright Blvd. in Scottsdale. It was 95 percent leased at the time of sale. Notable tenants include Safeway, CVS Chase Bank, H&R Block, Supercuts, Jack in the Box, Massage Envy and Leslie’s Pools. The seller, CHC–Real Estate, was represented by DTZ’s Dan Wald, Michael Hackett and Ryan Schubert.

January 12, 2015

California Retail Western

Shelter Island Village in San Diego Sells for $7.3M

by Nellie Day January 12, 2015

SAN DIEGO – Shelter Island Village, a 16,013-square-foot retail center in San Diego’s Point Loma submarket, has sold to Investcal Realty Corporation for $7.3 million. The center is located at 2904 Shelter Island Drive. Notable tenants include Supannee House of Thai, the Wine Pub, Stars and Stripes, Edward Jones, Haute Spa, Marvelous Muffins, Postal Annex and Subway. The center was built in 1990 by Union Bank of California (UBOC), which also operates an adjacent UBOC branch. Shelter Island is known for its distinctive Cape Cod-style architecture. Investcal represented itself, while the seller, Shelter Island Village LLC, was represented by Brian Quinn, Steve Avoyer and Matt Peckham of Flocke & Avoyer Commercial Real Estate, as well as by Jack Naliboff and Craig Carlson of Stepstone Realty.

January 12, 2015

Illinois Industrial Midwest

Brennan Investment Group, Goldman Sachs Acquire 23-Building Industrial Portfolio

by Danielle Everson January 12, 2015

CHICAGO — Brennan Investment Group LLC, in a joint venture with Goldman Sachs, has acquired a 23-building, 4.68 million-square-foot industrial portfolio for an undisclosed price. The properties, located throughout the Chicago metropolitan area, were purchased from Mirvac Industrial Trust, an Australian public REIT. CBRE and the Macquarie Group represented the seller in the transaction.

January 12, 2015

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