Property Type

Bradford Commercial Arranges Sale of Retail Center in Metro Dallas

by Haisten Willis March 24, 2015

CARROLLTON, TEXAS — Zimmerman Enterprises LLC has acquired Northridge Court, a 33,979-square-foot retail center in Carrollton. Northridge Court is situated on nearly 2.3 acres at 2741 E. Belt Line Road near the Marsh Lane intersection. The property was 56 percent leased at the time of sale. Leigh C. Richter and Kevin J. Santaularia of Bradford Commercial Real Estate Services represented the California-based seller, Venice Ltd. Evan Bloom of Street Commercial LLC negotiated for the local buyer, a retail investor who leases and manages properties in-house. The property is close to the Dallas North Tollway and President George Bush Turnpike. The seller has owned the property since the early 1990s. Built in 1979, other tenants in the center include Kitchen Design Concepts and Dr. Smile.

March 24, 2015

Leopardo Completes AMC Yorktown 18 Renovation

by Danielle Everson March 24, 2015

LOMBARD, ILL. — Leopardo Cos. Inc. has completed its 68,000-square-foot renovation of the AMC Yorktown 18 featuring AMC Red Kitchen in Lombard. The renovation was part of AMC Theatres’ strategy to enhance the overall moviegoing experience by updating several theater locations throughout its circuit. Leopardo has completed projects for the company at several locations across the country, including the AMC 600 N. Michigan 9 in Chicago. The AMC Yorktown 18 renovation consisted of the demolition and renovation of auditoriums, lobby and restrooms, as well as box office, guest services and concession areas. The auditoriums were also upgraded to include power reclining seats with tables to accommodate fast-casual dining. The renovation also included the build-out of an AMC Red Kitchen, one of only two AMC locations in the United States to feature the dining concept. The concept allows guests to enjoy a meal during a movie from their power recliner. MacGuffins, a bar and lounge that serves specialty cocktails, beer and wine, was also added during the renovation. Leopardo served as general contractor and worked in collaboration with owner’s representative Jones Lang LaSalle and BRR Architecture to complete the project.

March 24, 2015

Midwest Ohio Retail

Easton Gateway Adds 13 New Tenants

by Danielle Everson March 24, 2015

COLUMBUS, OHIO — Easton Town Center, a 1.7 million-square-foot shopping center located in Columbus, has signed lease agreements with 13 new tenants that will be included in the shopping center’s new 500,000-square-foot north district, Easton Gateway. Steiner + Associates and The Georgetown Co. are the co-developers for the project. Tenants include JoS. A. Bank, The Container Store, Z Gallerie, FUSIAN, BJ’s Restaurant and Brewhouse, Payless ShoeSource, Total Comfort Shoes, European Wax Center and more. The new tenants will join Golf Galaxy, J. Alexander’s, Melt, Pies & Pints and Whole Foods, which were previously announced in December and are currently under construction. Several other major retailers have already opened at Easton Gateway development including Costco, REI, Dick’s Sporting Goods, Field & Stream and Saks Fifth Avenue Off 5th.

March 24, 2015

Illinois Midwest Multifamily

Marcus & Millichap Arranges $1M Sale of Apartment Property in Joliet, Ill.

by Danielle Everson March 24, 2015

JOLIET, ILL. — Marcus & Millichap has arranged the sale of 421 and 521 Kungs Way and 2414 Douglas, a 16-unit apartment property located in Joliet. The property includes one-, two- and three-bedroom units. The property features ample off-street parking. Andrean Angelov, Ryan Engle and Adam Fortino of Marcus & Millichap’s Chicago Oak Brook office represented the seller, a private investor, and the buyer, a limited liability company.

March 24, 2015

Illinois Midwest Office

Bradford Allen Arranges Sale of 52,564 SF Office Property in Lombard, Ill.

by Danielle Everson March 24, 2015

LOMBARD, ILL. — Bradford Allen has arranged the sale of a 52,564-square-foot office building in Lombard. The three-story property is located at 1910 S. Highland Ave. and is 37 percent leased. Ryan Moen of Bradford Allen represented the undisclosed buyer in the transaction. Bill Novelli and Derek Fohl of CBRE represented the seller, RBS Citizens Bank. Bradford Allen will serve as the leasing agent and property manager for the property.

March 24, 2015

Loans Multifamily New York Northeast Seniors Housing

KeyBank Arranges $93.75M Loan for New York Seniors Housing Portfolio

by Amy Works March 24, 2015

LONG ISLAND, N.Y. — KeyBank Real Estate Capital has provided $93.75 million in Fannie Mae loans to finance a portfolio of four assisted-living communities in Long Island. The borrower was NorthStar Healthcare Income Inc., which acquired the 570-unit portfolio in September of 2014. The portfolio includes The Arbors at Bohemia, The Arbors at Islandia, The Arbors at Hauppauge and The Arbors at Westbury, located in Jericho, N.Y. The properties are 100 percent leased to Arcadia Management Inc. Monique Bimler of KeyBank arranged the financing.

March 24, 2015

Multifamily New York Northeast

Federal Capital Partners, Horizon Land Co. Buy 2,413-Site Manufactured Housing Portfolio

by Amy Works March 24, 2015

VICTOR, N.Y. — Federal Capital Partners (FCP) and Horizon Land Co. has acquired an 11-community, 2,413-site manufactured housing portfolio in Western New York. The companies purchased the portfolio for $88 million from an undisclosed buyer. The portfolio includes Gypsum Mills, a 560-site community in Victor. M&T Bank provided senior debt financing for the acquisition. The acquisition brings FCP/Horizon’s total manufactured housing holdings to a 32 communities with approximately 5,600 sites.

March 24, 2015

Multifamily Northeast Pennsylvania Seniors Housing

Tryko Partners Acquires 100-Unit Age-Restricted Building in Pittsburgh

by Amy Works March 24, 2015

PITTSBURGH — Tryko Partners LLC has acquired Duff Manor, an age-restricted affordable housing property in Pittsburgh from Crossgates Inc. Located at 50 Duff Road, the 10-story Duff Manor Apartments building features 100 one-bedroom residences with air conditioning and a patio or balcony. On-site amenities include intercom-controlled access, a community room and laundry facilities. Marcus & Millichap brokered the transaction. Tryko Partners secured financing for the acquisition through M&T Bank. The acquisition price was not released.

March 24, 2015

Multifamily New York Northeast Retail

GFI Realty Services Brokers $8.9M Sale of Mixed-Use Property in Brooklyn

by Amy Works March 24, 2015

NEW YORK CITY — GFI Realty Services has arranged the sale of a corner mixed-use building in the Dyker Heights section of Brooklyn. Located at 910 81st St., the multifamily and retail property sold for $8.9 million, or $182,000 per residential unit. The four-story walk-up features 43 residential units and two retail spaces. Ben Katz of GFI Realty Investment Sales represented the undisclosed seller, while Erik Yankelovich, also of GFI, represented the buyer, a local investor, in the transaction.

March 24, 2015

Industrial New Jersey Northeast

NAI Mertz Brokers Sale of 156,281 SF Industrial Facility in New Jersey

by Amy Works March 24, 2015

MARLTON, N.J. — NAI Mertz has arranged the sale of a multi-tenant industrial building located at 4 East Stow Road in Marlton. Plymouth Industrial REIT Inc. purchased the 156,280-square-foot facility for an undisclosed price. The property is currently 97 percent leased to a variety of tenants, including Cherry Hill Photo, RiverTech Solutions and MBO America. Situated on 14.54 acres, the property features 22-foot ceiling heights, 22 tailgate loading doors and eight drive-in loading doors. Jonathan Klear and Fred Meyer of NAI Mertz negotiated the transaction. The name of the seller was not released.

March 24, 2015

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