FORT LAUDERDALE, FLA. — HFF has arranged the sale of il Lugano, a 105-suite luxury boutique hotel located at 3333 N.E. 32nd Ave. on the Intracoastal Waterway in Fort Lauderdale. Completed in 2008, the hotel features the da Campo Osteria restaurant, a lobby bar, outdoor event patio, outdoor resort-style pool with a sundeck, 10-slip private marina, fitness center, adjacent water taxi station, private parking garage and approximately 4,000 square feet of meeting space. Max Comess, Daniel Peek, Denny Meikleham, Scott Wadler, Alexandra Lalos and Cecily Nazario of HFF represented the seller, Il Lugano LLC, in the transaction. Il Lugano LLC is owned by the SageCrest Liquidating Trust, which is managed by John Huber, a managing director at SOLIC Capital Advisors. The buyer was an affiliate of Bridgewater, Mass.-based Claremont Cos.
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CHARLOTTE, N.C. — SunTrust Bank has expanded its new regional headquarters in the Sharon Square mixed-use development in Charlotte’s SouthPark submarket. SunTrust has expanded its footprint by 19,000 square feet to accommodate the growth in its wholesale banking and private wealth management divisions. Sharon Square is now more than 80 percent leased to tenants such as Whole Foods Market, Corkbuzz Wine Studio and Dogwood Southern Table & Bar. Sharon Square’s ownership, Pappas Properties and Allen Tate Co., inked the lease with SunTrust. The Atlanta-based bank’s regional headquarters is expected to open later this fall.
NEW YORK CITY — Eastern Consolidated has arranged the sale of 1424-1428 Lexington Avenue, a five-story, mixed-use walk-up in Carnegie Hill on the Upper East Side. The 13,520-square-foot corner property sold for $12.6 million. Situated on the northwest corner of Lexington Avenue and East 93rd Street, the property includes an additional 13,881 square feet of unused development rights, which are subject to Landmarks Preservation Commission approval. The building features nine residential units and three ground-floor commercial units occupied by Ottomanelli Brothers Restaurant, Vela Pizzeria and Pet Central. David Kriss of Kriss & Feuerstein LLP was the attorney for the buyer, while Allen Schole of Ellenoff Grossman & Schole LLP provided legal counsel for the seller.
WORCESTER, MASS. — Marcus & Millichap has brokered the sale of a 14,800-square-foot net-leased property in Worcester. The property, which is occupied by Walgreens, sold for $8.2 million. Mark Taylor and Dean Zang of Marcus & Millichap’s Philadelphia office marketed the property on behalf of the seller, a limited liability company. Robert Horvath and Todd Tremblay of Marcus & Millichap’s Boston office secured and represented the buyer, a limited liability company, in the transaction.
NEW HAVEN, CONN., AND HACKENSACK, N.J. — NorthMarq Capital’s Greater Westchester NY/CT regional office has arranged financing for two multifamily properties in Connecticut and New Jersey. In the first transaction, Quinnipiac Gardens Inc. received a $4.8 million loan for Quinnipiac Gardens, a 71-unit multifamily property in New Haven. The loan was structured with a seven-year term and a 30-year amortization schedule. NorthMarq arranged the financing through its seller/servicer relationship with Freddie Mac. In the second transaction, Francisco Apartments Inc. received $2.8 million in financing for Equestrian House, a 30-unit apartment property in Hackensack. The transaction was structured with a seven-year term and a 30-year amortization schedule. NorthMarq secured the financing through its relationship with a regional bank. Robert Ranieri of NorthMarq Capital’s Greater Westchester NY/CT office arranged financing for both transactions.
FRANKLIN, MASS. — EMC Corp. has renewed its 192,000-square-foot lease at TIAA-CREF’s industrial building in Franklin. The company will continue to occupy the entire facility, which is located at 109 Constitution Blvd. Constructed in 2000, 109 and 111 Constitution Blvd. consist of 192,000 square feet each and are both fully occupied. The high-bay warehouse buildings feature state-of-the-art design and construction and offer 30-foot clear heights, ESFR sprinkler systems and excellent loading capabilities. John Lashar, Paul Leone and Danielle DeMarco of Transwestern | RBJ represented TIAA-CREF, which also owns 111 Constitution Blvd., in the transaction. Jack Burns and David Ross of Cresa Boston represented EMC Corp.
SPRINGFIELD, MO. — A new $13 million, 71,500-square-foot extended-stay hotel will open in Springfield this September. The five-story, TownePlace Suites by Marriott hotel will be immediately adjacent to Mercy Hospital Springfield. The development will include 110 units and feature a workout facility, indoor saltwater pool, on-site restaurant and bar and outdoor grilling area. The property will seek LEED certification. RTT Hospitality LLC is the owner/developer of the project. Larry Snyder & Co. served as the general contractor and Baron Design & Associates LLC provided architectural services.
CHICAGO — Mid-America Real Estate has arranged the lease of 3,139 square feet of space for SARAR. The Turkish fashion company signed a lease at 111 W. Washington Street in Chicago. This will be SARAR’s third location in Illinois. It’s first two locations opened in Aurora, Ill., in 2004 and Rosemont, Ill., in 2013. The new location is expected to open this fall. Michael Wexler of Mid-America represented SARAR in the transaction. Danielle Rudas and John Vance of Stone Real Estate represented the landlord. SARAR was founded in Turkey in 1944. Beginning as a tailor’s workshop, the company has grown internationally across five continents and 49 different countries.
CHICAGO — Cohen Financial has secured a $6.5 million acquisition loan for a single-tenant, 13,600 square-foot property currently leased to Walgreens. The in-fill development is located at 3222 N. Milwaukee Ave. in Chicago. Don Trossman of Cohen Financial secured the loan for the borrower, Focused Sanford Property II LLC, with Illinois-based First Bank & Trust Co.
CHICAGO — MB Real Estate has arranged a lease renewal and expansion for Dale & Gensburg P.C. at 200 W. Adams in Chicago. The Chicago-based law firm provides legal services to small and mid-sized businesses and individuals. The firm renewed its existing 4,033-square-foot lease on the 24th floor of the 32-story central Loop office property andexpanded by 1,470 square feet to accommodate its growing operations. Andrew Davidson and Christine Torres of MB Real Estate’s corporate services and tenant advisory group represented Dale & Gensburg in the lease negotiations. The building’s owner, Lincoln Property Co., was self-represented by Genny Emerson.