Property Type

Brandywine Realty Trust, LCOR to Develop Mixed-Use Project at 1919 Market St. in Philadelphia

by John Nelson October 27, 2014

PHILADELPHIA — Brandywine Realty Trust (NYSE: BDN) has formed a 50/50 joint venture partnership with LCOR/CalSTRS for a mixed-use development located at 1919 Market St. in Philadelphia’s City Center neighborhood. The joint venture is planning a 29-story, 455,000-square-foot glass tower consisting of residential, retail and parking components. The project will be comprised of 321 luxury apartments with full concierge service and rooftop amenities that include a fitness center, club room with demonstration kitchen, outdoor roof garden with a fire pit and ledge pool and a game room including a golf simulator. The commercial space will consist of 24,000 square feet and is 90 percent pre-leased to Independence Blue Cross and CVS/pharmacy. A 215-car structured parking facility will support the development and also offer parking to the public. Brandywine has contributed the land parcel at 1919 Market St. and will manage the retail and parking components of the project. LCOR will oversee construction of the project and will be responsible for the marketing, leasing and management of the multifamily component. The project team includes architect Barton Partners and construction manager Hunter Roberts Construction Group. Construction will begin immediately with an expected spring 2016 delivery. “With LCOR’s experience developing transit-oriented communities, we …

October 27, 2014

Bascom Group Buys Denver Apartment Community for $8.4M

by Nellie Day October 27, 2014

DENVER – The Bascom Group acquired the 112-unit Skyline View apartment community in the Denver submarket of Aurora for $8.4 million. The community is located at 456 South Ironton Street. It was built in 1972 and renovated in 2007. Debt financing was arranged by Gary Mozer and Katie Rodd of George Smith Partners. It was provided by One West Bank.

October 27, 2014

Nevada Retail Western

Los Altos Crossing in Sparks Sells for $4.7M

by Nellie Day October 27, 2014

SPARKS, NEV. – Los Altos Crossing, a 35,123-square-foot retail center in Sparks, has sold to BH Properties for $4.7 million. The center is located at Sparks Boulevard and Los Altos Parkway. The transaction also includes six pads totaling 217,974 square feet that are primed for development. The center is currently 47 percent occupied. Notable tenants include Goodwill, Dotty’s Casino, Las Trojes Mexican Restaurant and Dad’s Convenience Store.

October 27, 2014

California Retail Western

The Shops at Clinton Keith in Wildomar Sells for $4.7M

by Nellie Day October 27, 2014

WILDOMAR, CALIF. – The Shops at Clinton Keith, a 15,000-square-foot retail center in Wildomar, has sold to a private investor for $4.7 million. The fully leased center is located off Interstate 15. Notable tenants include D’Canters, Bear Creek Eye, Stew’s Barber Shop and Tijuana Tacos. A 7-Eleven and Starbucks also exist on separate parcels. Scott Hook of Coldwell Banker Commercial (CBC) Alliance Orange County represented the seller. Hook also co-represented the buyer, along with David Girty of CBC Alliance.

October 27, 2014

Industrial Nevada Western

NAT Truck Terminal in Las Vegas Sells for $5M

by Nellie Day October 27, 2014

LAS VEGAS – The NATMI Truck Terminal, a 24,890-square-foot facility in Las Vegas, has sold to a private investor for $5 million. The facility is situated on 10 acres at 4650 East Cheyenne Ave. It is fully leased. The seller, NATMI Truck Terminals LLC, was represented by CBRE’s Michael Caprile, Charles Moore, Marlene Fujita Winkel, Jeremy Green, Tyler Ecklund and Ashley Kolaczynski.

October 27, 2014

California Industrial Western

Newbury Park Industrial Facility Sells for $2.1M

by Nellie Day October 27, 2014

NEWBURY PARK, CALIF. – An 11,508-square-foot industrial facility in Newbury Park has sold to People Creating Success for $2.1 million. The facility is located at 2585-2587 Teller Road, just northwest of Thousand Oaks. People Creating Success is an organization that provides services to the developmentally disabled. The organization was represented by Keith Mathias of KAM Commercial. The seller, a family trust, was represented by Mike Tingus and Cheri Blessing of Lee & Associates-LA North/Ventura.

October 27, 2014

Mixed-Use South Carolina Southeast

Centennial American Properties Partners with TCC for Greenville Mixed-Use Development

by John Nelson October 27, 2014

GREENVILLE, S.C. — Trammell Crow Co. (TCC) has named Greenville-based Centennial American Properties as its local partner in the redevelopment of the Greenville News building in downtown Greensville. The two companies will develop a mixed-use project that could possibly include an upscale hotel, retail and restaurant space, dine-in movie theater, office building, multifamily residences, public plazas and pedestrian walkways, a parking garage and other uses that would fit within the upscale nature of the project. TCC is under contract with Gannett Publishing to purchase the Greenville News building, which is located on Main Street. Jackson Hughes Jr. of Hughes Commercial Properties is handling retail leasing for the development, and CBRE is handling office leasing. Wakefield Beasley & Associates is designing the project.

October 27, 2014

Hospitality New York Northeast

NYC’s First Cambria Suites Slated to Open in November

by Amy Works October 27, 2014

NEW YORK CITY — The 18-story, 56,500-square-foot Cambria Suites is slated to open in November. Located at 125 West 28th St., the property is the first Cambria Suites hotel in New York City. Designed by Gene Kaufman Architect (GKA), the property will feature 135 suites and a rooftop terrace. As this is the first Cambria Suites in the city, GKA was tasked with not only designing the outer shell of the building, but also designing and programming the hotel’s interior configuration, including the suites, lobby reception, concierge, lounge and dining areas, a ground-floor meeting room and a fitness facility. The design and solution created by GKA will serve as the model for all subsequent New York City Cambria Suites, including the 196-room property at 30 West 46th St. that is slated to top out later this year.

October 27, 2014

Kentucky Multifamily Southeast

Marcus & Millichap Brokers Sale of Louisville Apartment Community

by John Nelson October 27, 2014

LOUISVILLE, KY. — Marcus & Millichap has arranged the sale of Glenmary Village Apartments, a 272-unit multifamily community located off Bardstown Road at 9606 Clubview Drive in southeast Louisville. Aaron Johnson of Marcus & Millichap’s Louisville office represented the seller in the transaction. The buyer, Utah-based Peak Capital, purchased Glenmary Village for an undisclosed price. Built in 2003 on 22 acres, Glenmary Village Apartments features a large pool and sun deck and an upgraded resort-style clubhouse with veranda, business center, workout facilities and a kitchen area.

October 27, 2014

Multifamily New York Northeast

The Daten Group to Build 38-Unit Residential Building in Brooklyn

by Amy Works October 27, 2014

NEW YORK CITY — The Daten Group has purchased a vacant former gas station site located at 840 Fulton St. in Brooklyn’s Clinton Hill neighborhood. The New York City-based development firm bought the asset, which includes air rights of the neighboring property, for $7.4 million from Fulvan Realty LLC. The Daten Group plans to develop a seven-story, 40,000-square-foot building on the property. Designed by KBA Architects, the property will features 38 residential units, 20 of which will be affordable, and 5,000 square feet of retail space. Construction for the $20 million development is slated to start in early 2015, with completion set for March 2017. Vibe Living, The Daten Group’s rental management company, will manage and market the property. David Behin of MNS Real Estate’s Investment Sales and Capital Advisory Division represented the Daten Group in the acquisition.

October 27, 2014

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