Property Type

CBRE Arranges 200,000 SF Industrial Lease Expansion in Atlanta

by John Nelson February 20, 2015

ATLANTA — CBRE has arranged American Building Supply’s 200,000-square-foot lease expansion at its manufacturing and distribution facility at 4475 S. Fulton Parkway in Atlanta. The hardware and door manufacturer and distributor’s lease now totals 635,000 square feet. David Nixon and Chad Burd of CBRE’s Atlanta office represented the tenant, and Will Lombard of Majestic Realty represented the landlord. The overall industrial vacancy in Atlanta dropped to below 10 percent in 2014 for the first time in nearly 14 years, according to CBRE Atlanta Research.

February 20, 2015

Mixed-Use New Jersey Northeast

CBRE Group Inc. Brokers $3M Sale of Mixed-Use Property in New Jersey

by Amy Works February 20, 2015

FLEMINGTON, N.J. — CBRE Group Inc. has brokered the sale of Turntable Junction & Fulper Center in Flemington. The 5.3-acre retail and multifamily property sold for $3 million. Charles Berger and Elli Klapper of CBRE represented the seller, a private family, while James Gunning, Donna Falzarano and Evan Kleppe of CBRE Group Inc. secured the financing for the deal. The new owner, an out-of-state buyer, plans to hold the property, which is nearly 100 percent occupied, for investment purposes with the possibility for redevelopment in the future.

February 20, 2015

Multifamily New York Northeast

Marcus & Millichap Arranges $1.3M Sale of Multifamily Property in Brooklyn

by Amy Works February 20, 2015

NEW YORK CITY — Marcus & Millichap has brokered the sale of an apartment building located at 469 Harman St. in Brooklyn. The six-unit apartment property sold for $1.3 million. Shaun Riley, Dan Greenblatt and Thomas Shihadeh of Marcus & Millichap’s Brooklyn office represented the seller and the buyer, both private investors, in the transaction.

February 20, 2015

Illinois Midwest Retail

Inland Real Estate Corp. to Redevelop Joliet Commons Shopping Center in Joliet, Ill.

by Danielle Everson February 19, 2015

JOLIET, ILL. — Inland Real Estate Corp. (IRC) is redeveloping Joliet Commons, a power center in Joliet, and adding a new 65,000-square-foot building for Dick’s Sporting Goods and DSW. Construction on the project is set to begin this spring. To accommodate the new tenants, IRC will redevelop a former movie theater at the center into a brand new building for the retailers. With the addition of the new building, the total gross leasable area of Joliet Commons will increase to 229,000 square feet. Dick’s Sporting Goods and DSW will join other national retailers at the center such as PetSmart, Old Navy, Party City and Famous Footwear. The project is expected for completion this fall.

February 19, 2015

Mixed-Use Texas

54 Acres Sold For New Mixed-Use Development in Metro Dallas

by Haisten Willis February 19, 2015

RICHARDSON, TEXAS — BC Station Partners LLC has purchased 54 acres in Dallas from the W.W. Caruth Jr. Foundation at Communities Foundation of Texas. The land is located at the southeast corner of Central Expressway and the President George Bush Turnpike. The site is for a new mixed-use project. The development will include office, retail and residential components. Upon completion, it is expected to include more than 1.35 million square feet of office space, 100,000 square feet of retail, 1,250 multifamily units and two hotels. The approximately $500 million, transit-oriented development will be immediately west of the CityLine project and adjacent to DART’s Bush Turnpike light rail station. Trammell Crow Residential (TCR) is scheduled to break ground on the first phase of the multifamily and retail section at the site in March. The first units are scheduled for delivery in late summer of 2016. Transwestern Development Co. is also in the planning phase for the site’s office component, which would be located at the northeast corner of Central and Renner Road.

February 19, 2015

Industrial Midwest Office Wisconsin

Gramercy Property Trust Acquires Five Properties for $44.4M

by Danielle Everson February 19, 2015

MILWAUKEE — New York-based Gramercy Property Trust Inc. has acquired one office and four industrial properties totaling approximately 590,000 square feet for $44.4 million. The properties include a portfolio of three single-tenant industrial properties totaling approximately 450,000 square feet in the Milwaukee; a cross-dock truck terminal located in Milford, Conn.; and a 115,000-square-footm Class A call center, office and operations facility in Charlotte. The properties are fully leased with a weighted average lease term of 6.7 years.

February 19, 2015

Midwest Ohio Retail

M&M Brokers $5.4M Sale of 103,910 SF Shopping Center in Mentor, Ohio

by Danielle Everson February 19, 2015

MENTOR, OHIO — Marcus & Millichap has brokered the $5.4 million sale of Mentor Plaza, a 103,910-square-foot retail property in Mentor, approximately 24 miles north of Cleveland. The shopping center is located at 8485 Market St. Gabriel Brothers and Big Lots anchor the plaza. Craig Fuller, Scott Wiles and Erin Patton of Marcus & Millichap’s Cleveland and Columbus offices marketed the property on behalf of the seller, a private investment fund. The team also represented the buyer, a limited liability company.

February 19, 2015

Hospitality Texas

AWH Partners Buys 536-Room Westin Dallas Park Central Hotel

by Haisten Willis February 19, 2015

DALLAS — AWH Partners LLC, a privately held real estate investment, development and management firm, has acquired the Westin Dallas Park Central. AWH Partners’ plans to complete more than $20 million in renovations to the 536 rooms and 42,000 square feet of meeting and event space. Spire Hospitality will oversee the renovation of the property and manage operations under a franchise agreement with Starwood Hotels & Resorts. The Westin Dallas Park Central is near two, premier Dallas shopping destinations, NorthPark Center and The Galleria Dallas, and the Dallas Arts District. Dallas/Fort Worth International Airport and Dallas Love Field Airport are within 30 miles. The hotel features 42,000 square feet of event space within a total of 30 flexible meeting rooms. Amenities include a fitness center, an outdoor pool, complimentary transportation within a five-mile radius, a Café In The Park restaurant and a lobby bar.

February 19, 2015

Multifamily Texas

M&M Arranges Sale of 32-Unit Apartment Building in Fort Worth, Texas

by Haisten Willis February 19, 2015

FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of Oak Tree, a 32-unit apartment property located in Fort Worth. The property is located at 3029 Lackland Road, seven miles west of downtown Fort Worth. Built in 1973, the property consists of four two-story buildings with 32 one-bedroom, 450-square foot floor plans. Prior to listing, the property underwent renovations, which included the addition of new electricity, plumbing, insulation, hard-wired smoke detectors and HVAC units. Unit renovations included new doors, windows, toilets and new appliances. Matt Davis of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, an individual/personal trust. Davis also procured the buyer, a private investor.Chris Parker, associate director in Mark One Capital’s Dallas office, arranged the financing.

February 19, 2015

Midwest Missouri Retail

Block & Co. Arranges Sale of 15,418 Retail Property in Independence, Mo.

by Danielle Everson February 19, 2015

INDEPENDENCE, MO. — Block & Co. Inc. has brokered the sale of Guitar Center, a 15,418-square-foot retail property in Independence. The property is located at 3911 Bolger Road. The freestanding building sits at the at the entrance drive to Walmart Supercenter, PetSmart and Sam’s Club and is across the street from Independence Center Mall. Guitar Center is a guitar retailer that operates 225 stores in the United States. David Block, Max Kosoglad and John Cobb of Block & Co. represented the buyer, a private investor who purchased the property in a 1031 tax-deferred exchange.

February 19, 2015

Newer Posts

Older Posts