Property Type

Construction Complete on Loft-Style Mixed-Use Building in Kansas City’s Union Hill District

by John Nelson November 13, 2014

KANSAS CITY, MO. — Construction is complete on the McGee Building, a mixed-use loft-style building at 2980 Gillham Road in Kansas City. The property is located in the Union Hill neighborhood, a 16-block district in Kansas City that features entertainment, dining, condominiums, retail, office space, a Fairfield Inn & Suites by Marriott and green space. The building will offer 56 loft-style residential units, as well as 4,325 to 18,000 square feet of retail space. The building is named after Allan B.H. McGee, one of Kansas City’s earliest settlers. The building will feature reclaimed timber furniture from local craftsman Jim Drew, a gallery of rotating art in the first-floor lobby, rainwater cistern and nearly $1.2 million in streetscaping around the building. Units range in price from $850 to $1,510 per month.

November 13, 2014

Midwest Retail Wisconsin

Marcus & Millichap Brokers $6.2M Sale of Cornerstone Center in Metro Milwaukee

by John Nelson November 13, 2014

GLENDALE, WIS. — Marcus & Millichap has brokered the $6.2 million sale of Cornerstone Center, a 13,304-square-foot retail property located at 5595 N. Port Washington Road in Glendale, roughly nine miles west of Milwaukee. Sean Sharko and Austin Weisenbeck of Marcus & Millichap’s Oak Brook, Ill.-based office represented the seller, an unnamed limited liability company, in the transaction. Sharko and Weisenbeck also secured and represented the buyer, also an unnamed limited liability company. Matthew Fitzgerald of Marcus & Millichap assisted in closing the transaction.

November 13, 2014

Industrial Midwest Wisconsin

NAI MLG Commercial Brokers Sale of 24,000 SF Industrial Building in West Milwaukee

by John Nelson November 13, 2014

WEST MILWAUKEE, WIS. — NAI MLG Commercial has brokered the sale of a 24,000-square-foot industrial building located at 4545 W. Burnham St. in West Milwaukee. Samuel Check Family Trust sold the property to Office Service Co. LLP for an undisclosed price. Travis Tiede, Mitchell Starczynski, Adam Matson and Brett Garceau of NAI MLG Commercial brokered the transaction.

November 13, 2014

Industrial Kansas Midwest

Cassidy Turley Arranges 50,000 SF in Leases at WestLink Business Center in Metro Kansas City

by John Nelson November 13, 2014

SHAWNEE, KAN. — Cassidy Turley has arranged two leases totaling 50,000 square feet at WestLink Business Center in Shawnee, located 10 miles southwest of Kansas City. The 170,000-square-foot industrial building is located at Highway K-7 and 43rd Street. The property is now fully leased following the two lease transactions. Missouri Valley Wildlife Products leased 20,000 square feet of space at 23112 W. 43rd St. for five years, and NWC of Kansas LLC leased 30,000 square feet at 23108 W. 43rd St. for 10 years. Brad Jacobs and Whitney Kerr, Jr. of Cassidy Turley represented the landlord, Airtex Inc., in the lease transactions. Airtex is planning to develop buildings two and three at the site, pending incentives and city approvals. The newly constructed WestLink Business Center was built on a speculative basis and delivered in January. The property features 28-foot clear heights, ESFR sprinkler systems, T5 lighting and dock and drive-in loading options.

November 13, 2014

Florida Office Southeast

HFF Brokers $112M Sale of Broward Financial Center in Fort Lauderdale

by John Nelson November 13, 2014

FORT LAUDERDALE, FLA. — HFF has brokered the $112 million sale of Broward Financial Center, a 324,429-square-foot, Class A office property in Fort Lauderdale. The property is located at 500 E. Broward Blvd. in Fort Lauderdale’s central business district. AGS Property Corp. purchased the 24-story office building clear and free of existing debt from DRA Advisors LLC. Hermen Rodriguez, Manuel De Zarraga, Ike Ojala and Jorge Portela of HFF represented DRA Advisors in the transaction. Broward Financial Center was 90 percent leased at the time of sale to tenants such as Sun-Sentinel Co., Fox Sports Net Florida Inc., Premiere Beverage Co. LLC, Northwestern Mutual, Morton’s Restaurant Group and Charles Schwab & Co. Inc. Additionally, HFF secured $61million in acquisition financing on behalf of AGS Property Corp. Chris Drew and Paul Stasaitis led HFF’s debt placement team to arrange the 10-year, fixed-rate loan through Morgan Stanley Mortgage Capital Inc.

November 13, 2014

Georgia Multifamily Southeast

W. P. Carey-Sponsored REIT Buys Two Metro Atlanta Apartment Communities for $46M

by John Nelson November 13, 2014

TUCKER AND CHAMBLEE, GA. — CPA: 18-Global, W. P. Carey’s non-traded REIT, has acquired a 97 percent interest in two metro Atlanta apartment communities for approximately $46 million. The two properties include the 217-unit Dupont Place Apartments in Tucker and the 227-unit Gentry’s Walk in Chamblee. Co-investment partners Silverpeak Real Estate Partners and Carroll Organization own the remaining interest in the two multifamily assets.

November 13, 2014

Louisiana Retail Southeast

Stirling Properties Brokers Sales of Three Retail Centers in Gulf South Totaling $15.2M

by John Nelson November 13, 2014

COVINGTON, LA. — Stirling Properties has brokered the sale of three retail centers in Louisiana and Alabama totaling $15.2 million. The three properties include a CVS in Baton Rouge, La., that sold for approximately $4.8 million; the Conn’s-anchored Park Plaza in Lake Charles, La., that sold for $6 million; and the 42,257-square-foot Woodmere Crossing in Montgomery, Ala., that sold for $4.4 million. A private New York-based investor purchased the CVS in Baton Rouge from a private Louisiana-based investor in a 1031 tax-deferred exchange. Patrick Luther and Matthew Mousavi of Faris Lee Investments assisted in the sale. A private investor based in Houston purchased Park Plaza from Weingarten Realty Investors. The property was 40 percent vacant at the time of sale. BV Belk Properties purchased Woodmere Crossing via auction. Jeff Barnes of Stirling’s Mobile office assisted in the transaction along with Auction.com. Woodmere Crossing’s tenant roster includes Petco, Books-A-Million, Jason’s Deli and Sally Beauty Supply. Beezie Landry of Stirling’s Covington office represented the seller in all three transactions.

November 13, 2014

Retail

SRS Brokers $14.6M Sale of Publix-Anchored Shopping Center in Orlando

by John Nelson November 13, 2014

ORLANDO, FLA. — The SRS Southeast investment sales team has brokered the $14.6 million sale of a 77,260-square-foot shopping center located at 16825 E. Colonial Drive in Orlando. The property, known as Corner Lakes Plaza, is co-anchored by Publix and Tractor Supply Co. An affiliate of Publix Super Markets Inc. purchased the shopping center from Miller Group Development. Kyle Stonis and Pierce Mayson of SRS represented Miller Group Development in the transaction.

November 13, 2014

Florida Retail Southeast

LA Fitness-Anchored Shopping Center in Deerfield Beach Sells for $12.3M

by John Nelson November 13, 2014

DEERFIELD BEACH, FLA. — Investments Limited has purchased Hillsboro Commons, an 82,000-square-foot shopping center located in Deerfield Beach, for $12.3 million. The two-story, LA Fitness-anchored retail center located at 1000 E. Hillsboro Blvd. was 98 percent leased at the time of sale. Investments Limited purchased the center from Hillsboro Capital LLC. Phil Bloom of Bellestar Partners LLC and Nancy Dockerty of Dockerty Romer & Co. co-brokered the transaction.

November 13, 2014

Arizona Multifamily Western

Southern Ridge Apartment Community in Mesa Sells for $6.5M

by Nellie Day November 13, 2014

MESA, ARIZ. – The 113-unit Southern Ridge apartment community in Mesa has sold to an unnamed buyer for $6.5 million. The community is located at 214 North Gilbert Road. It was built in 1985. The buyer was represented by John Kobierowski of ABI Multifamily. The sellers, which consisted of multiple individuals and entities, were represented by Pete Te Kampe of Marcus & Millichap’s Phoenix office.

November 13, 2014

Newer Posts

Older Posts