Property Type

Quantum Brokers $1.9M Sale of 13,265 SF Shopping Center in Oak Lawn, Ill.

by Danielle Everson October 29, 2014

OAK LAWN, ILL. — Quantum Real Estate Advisors Inc. has brokered the $1.9 million sale of a 13,265-square foot shopping center in Oak Lawn. 51st Avenue Station is located at 5114-5130 W. 95th St. The shopping center was approximately 75 percent occupied at the time of closing with tenants such as Chiro One Wellness Center, Cold Stone Creamery, Miracle Ear, Al’s Italian Beef and Nancy’s Pizza. Chad Firsel of Quantum represented the seller, an east coast large money-center bank , and the buyer, a Clarendon Hills, Ill.-based acquisition company.

October 29, 2014

Midwest Office Ohio

M&M Arranges Sale of 11,750 SF Office Building in Columbus

by Danielle Everson October 29, 2014

COLUMBUS — Marcus & Millichap has arranged the $260,000 sale of an 11,750-square-foot office property in Columbus. The property is located at 5918 Sharon Woods Blvd. Justin Fenn and Dan Yozwiak of Marcus & Millichap’s Columbus office represented the seller, a partnership. The team also represented the buyer, a private investor who plans to convert the multi-tenant office building into a single-tenant church location.

October 29, 2014

Loans Massachusetts Multifamily Northeast

RED Mortgage Capital Delivers $10.3M of Refinancing for Victoria Riverside Townhouse Lofts

by Amy Works October 29, 2014

NEW BEDFORD, MASS. — RED Mortgage Capital, the mortgage lending entity of comprehensive capital provider RED Capital Group, with assistance from Jeffrey Rome of Capital Access US, has completed a Fannie Mae DUS loan in the amount of $10.3 million. The borrower, Victoria Riverside LLC, will use the loan to refinance Victoria Riverside Townhouse Lofts in New Bedford. The non-recourse, fixed-rate loan features payments based on a 30-year amortization schedule. Victoria Riverside LLC utilized a combination of federal and state historic tax credits to fund a portion of the redevelopment of the former Whitman Mill into 101 townhome lofts. Formerly a cotton mill built in the 1896 by William Whitman, the building is listed in the National Register of Historic Places.

October 29, 2014

Multifamily Seniors Housing Texas

Kensington, SEDCO Acquire Senior Housing Complex in Metro Dallas

by Haisten Willis October 29, 2014

MCKINNEY, TEXAS — A joint venture between Kensington Realty Advisors and SEDCO Capital has acquired Orchard Park, a seniors housing complex in McKinney, a suburb of Dallas. Orchard Park is a 97-unit assisted living and memory care facility located 30 miles north of downtown Dallas. The property was completed in 2011 and is located near a major hospital.

October 29, 2014

Northeast Retail Rhode Island

Marcus & Millichap Brokers $4.4M Sale of Two Rhode Island Retail Centers

by Amy Works October 29, 2014

COVENTRY, R.I. — Marcus & Millichap has arranged the sale of two retail centers, located at 670-678 and 710-720 Centre of New England Blvd. in Coventry. MTM-CNE LLC sold the assets, which total 16,895 square feet, for $4.4 million to 1465 Third Avenue LLC. Current tenants include 863 Sushi, Cilantro Grille, Royal Nails, UPS, Spring, We-R-Wireless, GameStop, Starkey Hearing, Supercuts and T-Mobile. Bob Horvath and Todd Tremblay of Marcus & Millichap represented both the seller and buyer in the transaction.

October 29, 2014

Loans Massachusetts Northeast Office

NorthMarq Capital Arranges $2.5M Acquisition Loan for Office Building

by Amy Works October 29, 2014

HAVERHILL, MASS. — NorthMarq Capital’s Boston regional office has secured $2.5 million in acquisition financing for an office building in Haverhill. Located at 26 Parkridge Road, the property offers 42,000 square feet of office space. Ed Riekstins of NorthMarq Capital arranged financing, which has a 20-year term and a 25-year amortization schedule, through its correspondent relationship with a life insurance company.

October 29, 2014

Restaurant Retail Texas

New Tenants Come to Mixed-Use Development in Metro Dallas

by Haisten Willis October 29, 2014

THE COLONY, TEXAS — Several new tenants are set to move into Grandscape, a mixed-use development in The Colony. A Hampton Inn & Suites is projected to open in the fourth quarter of 2015, and a Homewood Suites will open in the fourth quarter of 2016. In addition, Cheddar’s Casual Café and Rock & Brews will open in the summer of 2015. Two more restaurants — Hard Eight BBQ and Mi Cocina — will open in the third quarter of 2015.

October 29, 2014

Industrial Northeast Pennsylvania

Bussel Realty Corp. Brokers 100,000 SF Industrial Lease in Levittown

by Amy Works October 29, 2014

LEVITTOWN, PA. — New Jersey-based Bussel Realty Corp. (BRC) has arranged the lease of 100,000 square feet of industrial space at 30 Runway Dr. in Levittown. Poly Cube Company will lease the space for its plastic manufacturing business operations. Built in 1991, the 201,600-square-foot, Class A industrial facility features 28-foot ceiling heights, 40-foot by 42-foot column spacing, wet sprinklers, six tailboard and four rail doors for loading, as well as ample parking. Steve Bussel of BRC was responsible for the transaction and represented the tenant. Frank Green Development is the owner of the property.

October 29, 2014

Retail Texas

NAI Robert Lynn Arranges 45,000 SF Lease in Dallas

by Haisten Willis October 29, 2014

DALLAS — NAI Robert Lynn’s retail division has arranged a 45,000-square-foot retail lease to Texas Family Fitness at 910 W. Parker Blvd. in Plano. Dan Avnery represented the tenant in the transaction. The space is located in the Plano Towne Square shopping center near anchor stores such as Inwood National Bank, Rent-A-Center and Dollar General. The shopping center was originally built in 1985 and is located at North Central Expressway and Parker Boulevard. This will be Texas Family Fitness’ second location in Plano.

October 29, 2014

Florida Multifamily Southeast

HFF Arranges $95.5M Sale, Financing for Luxury Multifamily Community in South Florida

by John Nelson October 29, 2014

PEMBROKE PINES, FLA. — HFF has closed the $95.5 million sale of and arranged acquisition financing for Phase I of Modera Pembroke Pines, a two-phase, luxury multifamily community located at 10170 S.W. 7th St. in Pembroke Pines. Phase I was completed earlier this year and totals 422 units, which are currently 95 percent occupied. The 278-unit Phase II is scheduled for a second quarter 2015 completion. Modera Pembroke Pines is the first component of a mixed-use, master-planned community known as Pembroke Pines City Center. The apartment community features two beach-entry swimming pools, two fitness centers, two business centers, two demo kitchens, two game rooms, two clubhouses and private garages and storage units. Manny de Zarraga, Matthew Lawton, Jaret Turkell, Matt Mitchell and Maurice Habif of HFF represented the seller, a joint venture between affiliates of Mill Creek Residential Trust LLC and Clarion Partners. AVR Realty Co. was the buyer. Elliott Throne on HFF arranged acquisition financing through New York Life Real Estate Investors on behalf of AVR Realty. New York Life Real Estate Investors will also provide acquisition financing for Phase II of Modera Pembroke Pines.

October 29, 2014

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