Property Type

Hollister Construction Completes Jockey Hollow Bar & Kitchen in New Jersey

by Amy Works November 20, 2014

MORRISTOWN, N.J. — Hollister Construction Services has completed the transformation of Vail Mansion into Jockey Hollow Bar & Kitchen in Morristown. The construction project consisted of a complete retrofit of the historic 18,000-square-foot Vail Mansion, which was built in 1917. Developed by New York City chef and restaurateur Chris Cannon, Jockey Hollow Bar & Kitchen is a four-part restaurant concept featuring The Oyster & Wine Bar at Jockey Hollow, the Vail Bar cocktail lounge, The Rathskeller private event space and The Dining Room in Jockey Hollow. Jockey Hollow Bar & Kitchen occupies three full floors and the basement of the mansion and offers a menu of contemporary American and Italian-inspired dishes.

November 20, 2014

Northeast Pennsylvania Retail

HLC Equity Purchases 11,180 SF Retail Property for $4M

by Amy Works November 20, 2014

LANSDALE, PA. — HLC Equity has acquired an 11,180-square-foot property located at 10 W. Main St. in Lansdale. Situated on 1.2-acre pad and built in 1998, the retail property sold for $4 million, according to CoStar. Rite-Aid currently occupies the property under a long-term, triple-net lease. Additional details about the transaction were not disclosed.

November 20, 2014

Illinois Midwest Retail

Loja Group Acquires Four Chicago Grocery Stores for $95M

by Danielle Everson November 19, 2014

CHICAGO — Loja Real Estate has acquired a portfolio of four Chicago grocery store properties from a former unit of Safeway Inc. for $95 million. The single-tenant grocery store properties were purchased from Dominick’s Finer Foods LLC in a transaction that closed Nov. 13, according to Tom Engberg, CEO of Loja Real Estate. The acquisitions consist of a total of 238,462 square feet of leasable space on 12.4 acres. Mariano’s Fresh Market, which opened earlier this year, anchors three of the properties. A Whole Foods, which is expected to open in the spring of 2015, anchors the other property. Guy Ponticiello of JLL represented Safeway as the investment sale advisor in the transaction.

November 19, 2014

Midwest Nebraska Retail

Mid-America Real Estate Arranges $10.2M Sale of Canfield Plaza in Omaha, Neb.

by Danielle Everson November 19, 2014

OMAHA, NEB. — Mid-America Real Estate Corp. has brokered the $10.2 million sale of Canfield Plaza in Omaha. An undisclosed buyer purchased the 185,094-square-foot shopping center in a 1031 tax-deffered exchange. Canfield Plaza is located at the southwest corner of 84th Street and West Center Road. Canfield’s Sporting Goods and Westlake Ace Hardware anchor the shopping center. Joe Girardi and Carly Gallagher of Mid-America and Brian Kuehl of Investors Realty Inc. represented the seller, a private family trust.

November 19, 2014

Illinois Industrial Midwest

McShane Completes 112,065 SF Food Preparation Facility in Des Plaines, Ill.

by Danielle Everson November 19, 2014

DES PLAINES, ILL. — McShane Construction Co. has completed the 112,065-square-foot renovation of an industrial building transforming it into a food preparation facility for DO & CO Chicago Catering Inc. The property is located at 2150 Frontage Road in Des Plaines. McShane enhanced the overall shell of the building to support new refrigeration components, kitchen equipment and upgraded building and safety systems. The facility’s office, warehouse and production areas were modernized with contemporary features to optimize operational efficiencies. Harris Architects Inc. provided architectural services for the project. DO & CO is a catering company based in Vienna, Austria, active in airline, train and international events catering. The foodservice firm has expanded its services to O’Hare International Airport.

November 19, 2014

Midwest Multifamily Wisconsin

M&M Arranges Sale of 24-Unit Apartment Building in Osceola, Wis.

by Danielle Everson November 19, 2014

OSCEOLA, WIS. — Marcus & Millichap has arranged the $980,000 sale of Scenic Valley Apartments, a 24-unit apartment property in Osceola, 42 miles northeast of Minneapolis. The property is located at 290 Zindaus St. The single, freestanding apartment building includes 24 one- and two-bedroom units located on 1.2 acres. Evan Miller, Dan Linnell, Mox Gunderson and Jon Ruzicka, of Marcus & Millichap’s Minneapolis office represented the seller and buyer, both limited liability companies. Matthew Fitzgerald of the firm’s Milwaukee office assisted in closing the transaction.

November 19, 2014

Retail Texas

Kennedy Wilson Arranges $1.3M Sale of Retail Property in New Braunfels

by Danielle Everson November 19, 2014

NEW BRAUNFELS, TEXAS — Kennedy Wilson has arranged the sale of a 6,000-square-foot retail building in New Braunfels, 15 miles north of San Antonio, for $1.3 million. The property is located at 490 S. Business IH-35 and is fully leased to Advance Auto Plus, a provider of aftermarket automotive parts. Ernest Brown and Jorge Rodriguez of Kennedy Wilson’s San Antonio office represented the unnamed buyer. John Heeren of SMPO Real Estate LLC represented the seller, Mitchell Leigh Potash, trustee of the Mitchell Leigh Potash Dynasty Trust. Retailers located near the property include Sears, Hobby Lobby, CVS Pharmacy and Domino’s Pizza.

November 19, 2014

Hospitality Texas

CBRE Brokers Sale of Homewood Suites Hotel in Brownsville

by Danielle Everson November 19, 2014

BROWNSVILLE, TEXAS — CBRE Hotels has brokered the sale of the 86-room Homewood Suites hotel in Brownsville, 15 miles north of the Mexico border. Blue Star Hospitality LLC purchased the property, which is located at 3759 N. Expressway from an unnamed California-based company. The new owner plans to renovate the hotel and maintain the Homewood Suites brand. Bert Stevens of CBRE Hotels’ Dallas office represented the seller. The hotel features a business center, 630-square-foot meeting room, gym, pool, sports court and barbecue area. The property is located near the Port of Brownsville, Brownsville-South Padre Island International Airport and the University of Texas at Brownsville.

November 19, 2014

Multifamily Texas

Phoenix Capital Partners Purchases Apartment Complex in Houston

by Danielle Everson November 19, 2014

HOUSTON — Phoenix Capital Partners LTD, a Dallas-based private equity firm, has purchased The Villas at West Oaks, a 342-unit apartment complex located in Houston. This will be the first acquisition investment for Phoenix Capital Realty Fund VI LP, which is sponsored by Phoenix Capital.

November 19, 2014

Multifamily Texas

Lubert-Adler Sells 320-Unit Apartment Complex in Houston

by Danielle Everson November 19, 2014

HOUSTON — Lubert-Adler has sold Tiburon, a 320-unit Class A apartment complex in Houston, to a private individual. ARA Real Estate Investment Services represented Lubert-Adler in the transaction. Lubert-Adler acquired Tiburon in 2011 from its original developer, UDR Inc., as part of a larger value-add multifamily investment strategy. Tiburon was built in 2008 and is located just off Beltway 8, less than two miles from U.S. Highway 290. Amenities include a clubhouse, business center, gym and swimming pool.

November 19, 2014

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