Property Type

Overlake Shopping Center in Bellevue Sells for $30M

by Nellie Day February 12, 2015

BELLEVUE, WASH. – Overlake Shopping Center, a 49,167-square-foot, grocery-anchored center in Bellevue, has sold to Panos Properties for $30 million. The fully leased property is located at 15555-15585 NE 24th Street. It is anchored by Trader Joe’s, PetSmart and Walgreens, the seller. Walgreens signed a 20-year lease with Panos as part of the sale-leaseback transaction. Panos Properties was represented by Reynolds Haas of Colliers International. Walgreens was represented by Lauren Powell of Powell Development Company in this off-market transaction.

February 12, 2015

California Office Western

Rancho Cucamonga Office Building Sells for $13.4M

by Nellie Day February 12, 2015

RANCHO CUCAMONGA, CALIF. – A 39,600-square-foot office building in Rancho Cucamonga has sold to CFRE Holdings LLC for $13.4 million. The building is located at 8163 Rochester Ave. CFRE was represented by Cathy Jones, Paul Miachika, Jessica Cegavske and Roy Fritz of Sun Commercial Real Estate. The seller, 8163 Rochester Partners LLC, was represented by Isaiah Harf of Stan Johnson Company.

February 12, 2015

Colorado Multifamily Western

The Amherst Apartment Homes in Denver Sells for $5.6M

by Nellie Day February 12, 2015

DENVER – The Amherst Apartment Homes, an 81-unit multifamily property in Denver, has sold to a local buyer for $5.6 million. The community is located at 2775 S. Federal Blvd. It was built in 1973. The property was most recently renovated in 2010. The sale was executed by Josh Newell and Robert Lawson of Pinnacle Real Estate Advisors. The buyer assumed the unnamed seller’s current Fannie Mae loan.

February 12, 2015

Industrial Western

Accelerated Care Plus Corp. Leases Space in Reno

by Nellie Day February 12, 2015

RENO, NEV. – Accelerated Care Plus Corp. (ACP) has leased 66,000 square feet of space at the Reno Aircenter. The distribution space is located at 4999 Aircenter Circle. ACP provides “modality-based” clinical programs for post-acute and chronic rehabilitation. The landlord, IndCor Properties, was represented by J. Michael Hoeck, Dave Simonsen, Michael Nevis and Steve Kucera of The NAI Alliance Industrial Properties Group.

February 12, 2015

California Retail Western

Altadena Crossing Shopping Center Changes Hands

by Nellie Day February 12, 2015

ALTADENA, CALIF. – Altadena Crossing, a 43,108-square-foot shopping center, has sold to a private family trust for an undisclosed sum. The fully leased center is located at 2230-2268 Lincoln Ave. in Altadena, just north of Pasadena. It was built in 2006. Notable tenants include Verizon Wireless, Panda Express, Bank of America, 24 Hour Fitness and Subway. The latter three tenants were not part of the sale. The trust was represented by Martin Agnew and Jessica Kelley of Marcus & Millichap’s Encino office. The seller was not named. The transaction’s financing was arranged by Sharone Sabar of MMCC’s Encino office.

February 12, 2015

Georgia Multifamily Southeast

Trillist Cos. Breaks Ground on YOO on the Park in Midtown Atlanta

by John Nelson February 12, 2015

ATLANTA — The Trillist Cos. Inc. has begun construction on YOO on the Park, a 25-story apartment tower located adjacent to Piedmont Park in Midtown Atlanta. The Trillist Cos. partnered with London-based YOO Studio on the 245-unit multifamily project, which will be located at 207 13th St. between Juniper Street and Piedmont Avenue. The property’s amenity package will include multiple resident lounges, game rooms, a virtual golf simulator, indoor and outdoor fitness facilities, resort-style pool and lounge, 24-hour concierge services, bike fix-it station and pet facilities with dog grooming stations. Trillist Cos. and YOO Studio are expecting a summer 2016 completion.

February 12, 2015

Mixed-Use North Carolina Southeast

Crescent Communities to Bring Uptown Charlotte its First Whole Foods Market

by John Nelson February 12, 2015

CHARLOTTE, N.C. — Crescent Communities plans to develop a new mixed-use, transit-oriented project in Uptown Charlotte that will bring the neighborhood its first Whole Foods Market. The development will feature a 47,000-square-foot Whole Foods, a 450-unit luxury apartment community, two hotels and retail space. The project will be located on a 5.4-acre site at the Lynx Light Rail’s Stonewall Station. In addition to a raised, transit-level public plaza, the new project at Stonewall and Caldwell streets will include a resident-only outdoor amenities area atop the parking deck, which will feature a resort-style pool. Crescent will break ground on the new community on Stonewall Street this year and is targeting 2017 for its opening date. Bill Moseley of Moseley Real Estate Advisors represented Whole Foods Market in the lease transaction. Lord Aeck Sargent and Preston Partnership LLC provided site planning and design services for Crescent Communities, and Land Design is the civil engineer.

February 12, 2015

Mississippi Retail Southeast

Glickman Retail Group Brokers $27M Sale of Mississippi Shopping Center

by John Nelson February 12, 2015

MERIDIAN, MISS. — Sean Glickman of Coldwell Banker Commercial NRT, founder of the Glickman Retail Group, has brokered the $27 million sale of Meridian Crossings, a 206,365-square-foot shopping center in Meridian. Built in 2007, the asset was 96 percent leased at the time of sale to T.J. Maxx, Ross Dress for Less, Bed Bath & Beyond, Best Buy and Books A Million. Glickman represented the buyer, a 106-year-old family-owned company that owns, manages and develops shopping centers in 11 states.

February 12, 2015

Claiborne Hughes Health Center Franklin Tennessee

Multifamily Seniors Housing Southeast Tennessee

CFG Capital Markets Brokers $7.5M Sale of Tennessee Skilled Nursing Facility

by John Nelson February 12, 2015

FRANKLIN, TENN. — CFG Capital Markets has brokered the $7.5 million sale of Claiborne Hughes Health Center, a 157-bed skilled nursing facility (SNF) located in the town of Franklin. The facility is located approximately 30 minutes south of Nashville and is one of five licensed skilled nursing facilities in the county. The building was originally constructed in 1949 as a high school and converted into a SNF in 1981. Claiborne Hughes was sold for $47,770 per bed to a private investor group. Proceeds were used to fully retire HUD mortgage debt and other liabilities. Michael Burchell, Mike Coiro and Samer Tahboub of CFG Capital Markets were the advisors on the transaction representing the seller.

February 12, 2015

North Carolina Office Southeast

JPB Holdings Acquires TrustAtlantic Office Building in Raleigh for $7.3M

by John Nelson February 12, 2015

RALEIGH, N.C. — JPB Holdings LLC has acquired the 32,272-square-foot TrustAtlantic office building located at 4801 Glenwood Ave. in Raleigh for $7.3 million. The fully leased property’s anchor tenant is TrustAtlantic Bank, with other tenants including Workday Inc., Maginnis Law and Executive Suites of North Carolina. Jimmy Barnes and Whit Brown of NAI Carolantic represented JPB Holdings in the transaction. Ben Kilgore and Jeff Glenn of CBRE|Raleigh represented the seller. Built in 1973, the Class A office building was renovated in 2009 to LEED Silver standards.

February 12, 2015

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