Property Type

Lincoln Property, Lincoln Harris Arrange $31.5M Sale of Northlake Commons in Charlotte

by John Nelson October 16, 2014

CHARLOTTE, N.C. — Lincoln Property Co., along with its affiliate Lincoln Harris, has brokered the $31.5 million sale of Northlake Commons Shopping Center, a 78,839-square-foot retail property located at 9335 Center Lake Drive in Charlotte. The property was 92 percent leased at the time of sale to tenants such as Party City, Panera Bread, Chili’s, Olive Garden, On the Border, Red Robin, AT&T, Sprint, Moe’s Southwestern Grill, Shane’s Rib Shack, Men’s Wearhouse and Chick-fil-A. Chris Cotton of Lincoln Property and Chris Vasbinder and Johno Harris of Lincoln Harris represented the buyer, American Realty Capital-Retail Centers of America, in the transaction. Rob Carter of Berkeley Capital Advisors LLC represented the seller, Northlake Commons LLC, a partnership between Ferncroft Capital and Crow Holdings. Lincoln Harris will handle the leasing and management duties at Northlake Commons.

October 16, 2014

California Retail Western

Pacific Plaza in Torrance Sells for $10.6M

by Nellie Day October 16, 2014

TORRANCE, CALIF. – Pacific Plaza, a 23,438-square-foot retail property in Torrance, has sold to Metro Properties for $10.6 million. The space is located at 2382, 2390 & 2396 Crenshaw Blvd. It was built in 1992. The space is fully occupied by tenants like Subway, H&R Block, The UPS Store and BB’s Beauty Nail & Spa. Metro Properties was represented by Jeremy S. McChesney of Hanley Investment Group. The seller, Holt Group, was represented by Patrick G. Kent and Kevin T. Fryman of the same firm.

October 16, 2014

California Office Western

Regus Leases Space at Topaz in Downtown San Pedro

by Nellie Day October 16, 2014

SAN PEDRO, CALIF. – Regus has leased more than 15,000 square feet at Topaz in Downtown San Pedro. The Class A office tower is located at 222 West Sixth Street. The flexible workplaces provider will use this space as an expansion of its South Bay operations, which serve Long Beach, Palos Verdes and the 190th Street Corridor. Regus represented itself in this transaction, while the landlord, Jupiter Holdings, was represented by CBRE’s Tim Vaughan, Dave Smith and Mike Harry.

October 16, 2014

California Office Western

Citadel Servicing Corp. Expands, Renews at Irvine Spectrum Office Plaza

by Nellie Day October 16, 2014

IRVINE, CALIF. – Citadel Servicing Corporation has leased 14,588 square feet at the Irvine Spectrum Office Plaza. The plaza is located at 15707 Rockfield in Irvine. It is currently 58 percent leased. This renewal and expansion nearly tripled Citadel’s original space at this location. The new lease runs through 2018. The non-qualified mortgage products provider was represented by Oliver Fleener of PM Realty Group. The landlord, PRES Companies, was represented by its own Adam Espinoza.

October 16, 2014

California Office Western

Radiology Partners Leases Office Space in El Segundo

by Nellie Day October 16, 2014

EL SEGUNDO, CALIF. – Radiology Partners has leased 12,443 square feet of office space in El Segundo. The space is located at 2101 El Segundo Blvd. It was previously occupied by Raytheon Space and Airborne Systems. The integrated radiology practice management company plans to occupy the space next month. It is expanding from its 5,000-square-foot space, which is also in El Segundo. Radiology Partners was represented by Jacob Bobek of Avison Young’s Downtown Los Angeles office. The landlord, Bixby Land Company, was represented by CBRE.

October 16, 2014

Civic Midwest Missouri Uncategorized

HOK Designs New $17 Million Patient Care Center at University of Missouri-St. Louis

by Danielle Everson October 15, 2014

ST. LOUIS — HOK has designed a new $17 million patient care center for The University of Missouri-St. Louis (UMSL) Colleges of Optometry and Nursing. The 48,000-square-foot facility will expand the eye-care services offered through the existing University Eye Center. The facility will also incorporate the latest technology needed to advance eye and vision research. Scheduled to open in 2016, the center will include space for campus and community partners to offer complementary healthcare services, such as dental and primary care. UMSL has the only optometry program in Missouri and one of just 21 nationwide. Funding for the new center came in part from a supplemental fee that will be assessed to optometry students. It is also funded by internal reallocations within the college and campus reserves. The improvements to the College of Optometry are the first phase of planned capital improvements for the UMSL campus.

October 15, 2014

Loans Midwest Retail Wisconsin

Arthur S. Levine & Associates Arranges $7M Loan for Three-Building Retail Center

by Danielle Everson October 15, 2014

DELAVAN, WIS. — Arthur S. Levine & Associates LLC has arranged a $7 million permanent, first-mortgage loan on a three-building retail complex in Delavan, approximately 53 miles southwest of Milwaukee. Delavan Crossings I, II, & III is located at 1741 -1823 E. Geneva St. All three buildings consist of a total of 41,898 square feet of rentable area accommodating 25 tenants. The buildings are outlots of a larger retail development anchored by Walmart, Kohl’s and Lowe’s. The 10-year loan includes a 30-year amortization schedule. Arthur S. Levine & Associates negotiated the loan for the undisclosed borrower with a New York-based lending institution.

October 15, 2014

Monarch-Landing_Ext-Entrance-3_Copyright-Sarah-Mechling_Perkins-Eastman

Illinois Midwest Multifamily Seniors Housing

Health and Rehab Center Offering Specialized Care for Seniors Opens in Naperville, Ill.

by Danielle Everson October 15, 2014

NAPERVILLE, ILL. — The Springs at Monarch Landing, a new senior living community, is now open in Naperville. The Chicago office of Perkins Eastman and Monarch Landing recently participated in a ribbon-cutting ceremony for the 94,000-square-foot health and rehabilitation center. The Springs includes private resident rooms and couples’ suites, with 48 devoted to short-term rehabilitation, 48 to skilled care, and 28 for assisted living memory support. Other building amenities include a physical therapy suite, salon, café, multi-purpose room, outdoor gardens and courtyards, as well as covered access from the existing independent living buildings. The project took nearly 18 months to complete. The Perkins Eastman design team worked closely with Senior Care Development and Monarch Landing leadership to develop the multi-phase master plan for the entire 15-acre campus and complete the interior architecture of the facility.

October 15, 2014

Midwest Ohio Restaurant Retail

M&M Brokers Sale of 6,040 SF Restaurant Property

by Danielle Everson October 15, 2014

POWELL, OHIO — Marcus & Millichap has brokered the $930,000 sale of a 6,040-square-foot, net-leased restaurant property in Powell, approximately 17 miles north of Columbus. Luce Nuovo is located at 3499 Market St. The casual dining restaurant and wine bar serves Italian and French contemporary cuisine. Justin Fenn and Dan Yozwiak of Marcus & Millichap’s Columbus office represented the seller and buyer, both limited liability companies.

October 15, 2014

Mixed-Use Restaurant Retail Texas

Trademark Acquires Land for Waterside Development in Fort Worth

by Haisten Willis October 15, 2014

FORT WORTH — Trademark Property Co., in partnership with Sarofim Realty Advisors, has acquired 63 acres of infill land located on the Trinity River at Bryant Irvin Road and Arborlawn Drive in Fort Worth. The property will become Waterside, a new mixed-use development. Phase I of construction at Waterside begins Oct. 20 and will include anchor tenant Whole Foods Market, along with retail, restaurants and 375 multifamily rental homes built by Transwestern Development Co. When completed, Waterside will include 200,000 square feet of retail space and restaurants, 20 acres of residential properties, 200,000 square feet of office space and a hotel. Phase I is scheduled to open in the spring of 2016.

October 15, 2014

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