Property Type

HFF Brokers Sale of Grocery-Anchored Shopping Center Portfolio

by John Nelson October 2, 2014

ATLANTA — HFF has closed on the sale of a retail portfolio consisting of seven Publix-, Kroger- and BI-LO-anchored shopping centers totaling 513,723 square feet in Florida, Georgia, South Carolina and Texas. The properties include Kingwood Glen in Houston; Doral Isles in Miami; Barclay Crossing in Tampa; Deltona Landings in Orlando; Parkway Centre in Columbus, Ga.; Publix at Powder Springs in Atlanta; and Sweetgrass Corner in Charleston, S.C. Richard Reid, Danny Finkle, Ryan West, Rusty Tamlyn, Jim Hamilton and Luis Castillo of HFF represented the seller, a joint venture between BVT Equity Holdings Inc. and WealthCap, in the transaction. The seven retail assets had a combined 96.5 percent occupancy at the time of the sale.

October 2, 2014

Retail Southeast Virginia

Cushman & Wakefield | Thalhimer Arranges $1.9M Sale of Richmond Strip Center

by John Nelson October 2, 2014

RICHMOND, VA. — Cushman & Wakefield | Thalhimer has brokered the $1.9 million sale of a 15,220-square-foot retail strip center located at 7601 W. Broad St. in Richmond. C. Richmond Properties LLC purchased the asset from HM Real Estate Holding LLC. The strip center was fully leased at the time of the sale. Catharine Spangler and Bruce Bigger of Cushman & Wakefield | Thalhimer’s capital markets group represented the seller in the transaction.

October 2, 2014

Florida Georgia Industrial Southeast

King Industrial Realty/CORFAC Completes Two Industrial Leases

by John Nelson October 2, 2014

LAWRENCEVILLE, GA. AND GREEN COVE SPRINGS, FLA. — King Industrial Realty/CORFAC International has completed 183,000 square feet of industrial leases in two transactions in Lawrenceville and Green Cove Springs. Specialty Rolled Metals LLC has leased 83,000 square feet of space for five years at 975 Progress Center Drive in Lawrenceville. Jeff Graham and Jason McCart of King/CORFAC represented the landlord, Dietrich Gross Trust, in the transaction. Additionally, Graham represented U.S. Lumber Group in a five-year, 100,528-square-foot lease renewal at 4627 J.P. Hall Blvd., Suite 107 in Green Cove Springs. The building is owned by Green Cove LLC.

October 2, 2014

District of Columbia Office Southeast

CBRE Arranges 148,613 SF Lease Renewal at One Metro Center in D.C.

by John Nelson October 2, 2014

WASHINGTON, D.C. — CBRE has arranged a 148,613-square-foot lease renewal at One Metro Center, a 421,235-square-foot trophy office building in Washington, D.C.’s East End neighborhood. The six-story office property is located at 701 13th St. N.W., approximately three blocks from the White House. White & Case LLP, an international law firm, renewed its lease with the owner, Jamestown LP. Randy Harrell, Kevin Howard, Joe Coleman and Melissa Byrd of CBRE represented Jamestown in the lease transaction. Tom Doughty and Greg McCavera of JLL represented White & Case.

October 2, 2014

Market Reports Midwest Midwest Market Reports Multifamily Ohio

Give An Assist to Apartment Renters for Helping Revitalize Cleveland’s CBD

by Danielle Everson October 2, 2014

To say that 2014 has been filled with great excitement for Cleveland would be an understatement. In early July, the Republican National Committee selected Cleveland as the host city for its 2016 convention. That same month, NBA star LeBron James announced his intent to return to his hometown Cavaliers. Beyond those splashy headlines, during the first half of the year several real estate projects were announced. The planned projects combined with those already under construction or completed since 2010 represent $5.5 billion in public and private investment in downtown Cleveland. Apartment Building Boom One of the most significant stories in Cleveland is that the residential boom downtown continues to gain momentum. The overall occupancy rate in the apartment sector within the CBD rose from 94.5 percent in the first quarter of 2014 to just over 98 percent at mid-year, according to a recent study released by the Downtown Cleveland Alliance. As a result, new projects continue to pile up in an effort to meet the ever-increasing demand. In addition to the 1,000-plus rental units currently under construction, there are now more than 1,100 units in various planning stages. Projects announced since the first of the year include The Standard Building …

October 2, 2014

Florida Healthcare Southeast

Five Duke Realty MOBs in Central Florida Earn BOMA Awards

by John Nelson October 2, 2014

INDIANAPOLIS — The Building Owners and Managers Association (BOMA) has recently designated five Duke Realty-owned and managed medical office buildings in Florida as BOMA 360 Performance Buildings. The five facilities, which are located on hospital campuses in Central Florida, include: Celebration Medical Plaza, Kissimmee Medical Plaza, East Orlando Medical Surgical Plaza, Sebring Medical Pavilion and the Wesley Chapel Wellness Center. The BOMA 360 Performance Program recognizes commercial properties that demonstrate best practices in building operations and management, according to BOMA.

October 2, 2014

Loans Multifamily New York Northeast

Meridian Capital Arranges $18.4M Loan for Residential Cooperative

by Amy Works October 2, 2014

NEW YORK CITY — Meridian Capital Group has negotiated $18.4 million in refinancing for the residential cooperative portion of Lincoln Towers on West End Avenue in New York City. The 29-story property, which is part of the Lincoln Towers condo, totals 444 units and 32 parking spots. Meridian has arranged financing for six of the eight buildings that are part of the Lincoln Towers complex. The 30-year self-liquidating loan, which was provided by a life insurance company, features a 4.44 percent fixed rate. Steve Geller and Nicoletta Pagnotta of Meridian Capital Group’s New York City’s headquarters brokered the transaction.

October 2, 2014

Industrial Loans Massachusetts Northeast

NorthMarq Capital Arranges $9.9M Loan for Industrial Building

by Amy Works October 2, 2014

PEABODY, MASS. — NorthMarq Capital’s Boston office has secured $9.9 million in refinancing for an industrial property located at 3 Technology Way in Peabody. The property offers 160,000 square feet of Class A industrial space. The commercial mortgage was structured with a 10-year term and a 30-year amortization schedule. Michael Chase of NorthMarq arranged the financing for the borrower through its correspondent relationship with a Guardian Life Insurance Company.

October 2, 2014

New York Northeast Retail

Microsoft Inks Deal for Flagship Store in Manhattan

by Amy Works October 2, 2014

NEW YORK CITY — Microsoft Corp. has signed a lease for its first Manhattan flagship store at 677 Fifth Ave. in New York City. Microsoft will occupy the entire ground through fourth floors, as well as a portion of the lower level of the building. Andrew Kahn, Jonathan Scibilia and Jesse Hutcher of Cushman & Wakefield represented the landlord, 677 Fifth Avenue Corp., in the deal. Richard Hodos of CBRE represented Microsoft.

October 2, 2014

Multifamily New York Northeast

Rosewood Realty Brokers $5.1M Sale of Crown Heights Apartment Building

by Amy Works October 2, 2014

NEW YORK CITY — Rosewood Realty Group has brokered the sale of 1539 Park Place in Brooklyn’s Crown Heights neighborhood. 1539 Park Place LLC purchased the property, which was built in 1910, for $5.1 million. Located between Buffalo and Rochester avenues, the four-story, 34,975-square-foot building features 34 residential units. Aaron Jungreis of Rosewood Realty Group represented the buyer, while David Berger, also of Rosewood Realty, represented the seller, Park 1539 Realty LLC, in the transaction.

October 2, 2014

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