Property Type

UNITED HEALTH GROUP RENEWS 41,289 SF LEASE AT CORPORETUM VI

by admin October 1, 2013

LISLE, ILL. — United Health Group has signed a lease renewal for 41,289 square feet of office space at Corporetum VI in Lisle, located about 25 miles west of Chicago. The 172,695-square-foot Corporetum VI office building features granite lobbies, on-site food service, a conference center, fitness center and private corner balconies. The building is located at 550-650 Warrenville Road, directly off of I-88. Minnetonka, Minn.-based United Health Group is a diversified managed healthcare company that serves approximately 70 million individuals nationwide. Patrick Kiefer, Jim Adler and Dan O’Neill with NAI Hiffman’s office services group represented the building’s owner, Winthrop Realty Trust, in the transaction. Robert Sevim and Joe Learner of Studley represented United Health Group.

October 1, 2013

MERIDIAN ARRANGES $45M CONSTRUCTION LOAN FOR NYC PROPERTY

by admin October 1, 2013

NEW YORK CITY — Meridian Capital Group LLC has arranged $45 million in construction financing for the development of a 133,000-square-foot retail property in Brooklyn. The three-year construction loan features interest-only payments and a LIBOR-based floating rate. Located at 240-242 Bedford Ave. in the Williamsburg neighborhood, the property spans the entire block of North 4th Street from Bedford Avenue to Berry Street and will be home to a Whole Foods Market. Aaron Birnbaum, executive vice president, and Tal Savariego, vice president at Meridian Capital Group’s New York City headquarters, arranged the financing. Construction of the retail property is slated for a mid-2014 completion.

October 1, 2013

Mixed-Use Northeast

LEASEHOLD SALE ON UPPER WEST SIDE GOES FOR MORE THAN $17M

by admin October 1, 2013

NEW YORK CITY — A local investor has sold a partial interest in a 72-year leasehold interest in the retail and medical suites at 2012-2018 Broadway on Manhattan’s Upper West Side in a transaction valued at more than $17 million. Long-time investor Isaac Shalom of Madison Realty purchased the interest. The lessee is under a 72-year leasehold rent with the co-op, which owns the building and the land. Three restaurants — Dan Japanese Restaurant, Luce Restaurant and Nanoosh Mediterranean — as well as a nail salon, occupy the four retail spaces along Broadway, while the space on the 69th Street side of the building is occupied by medical suites. Adelaide Polsinelli, senior director at Eastern Consolidated, represented the seller and procured the buyer in the sale of the corporation’s shares.

October 1, 2013

Mixed-Use Northeast

22,500 SF MIXED-USE BUILDING SELLS FOR $2M IN NORWALK

by admin October 1, 2013

NORWALK, CONN. — Capital Construction has purchased a 22,500-square-foot mixed-use retail and office building in Norwalk for $2 million. Q SONO IV LLC sold the property. The two-story building is located in downtown Norwalk at 38-48 and 50 N. Main St. Several professional office tenants occupy the second floor of this building, and Bank of America anchors the street-level spaces, which also includes a convenience market, restaurants and a beauty store. Ralph Calabrese and Tony Valenti of the R. Calabrese Agency LLC were the sole brokers in the transaction.

October 1, 2013

Multifamily Northeast

PEARL PLACE II HOUSING IN MAINE ACHIEVES LEED-PLATINUM

by admin October 1, 2013

PORTLAND, MAINE — Pearl Place II, a 55,978-square-foot, 54-unit apartment complex at 184 Pearl St. in Portland, has achieved LEED-Platinum certification from the U.S. Green Building Council. Pearl II is the second of two phases of an affordable housing development in the Bayside neighborhood of Portland. Construction was completed earlier this year. Avesta Housing hired Thornton Tomasetti, an international engineering firm, as the LEED for Homes provider and sustainability consultant on the project. Wright-Ryan Construction was the contractor on the project; PDT Architects served as the architect; and Horizon Residential Energy Services provided EnergyStar services. Avesta Housing is a 501(c)(3) nonprofit organization that promotes and provides housing opportunities in southern Maine for residents in need.

October 1, 2013

Retail Texas

UCR BROKERS SALE OF 216,368 SF SHOPPING CENTER IN ARLINGTON

by admin October 1, 2013

ARLINGTON, TEXAS — United Commercial Realty (UCR) has brokered the sale of Plaza at the Parks, a 216,368-square-foot retail asset in Arlington. The shopping center was 85 percent leased at the time of sale to tenants including Michaels, Sam Moon, Chair King and Sun & Ski Sports. Adam Howells, Tommy Tucker, Kevin Catalani, Jessica Donnelli and Tim Axilrod of UCR represented the seller, the Dallas-based commercial real estate developer Hunt Properties. Regional Management Co. purchased the property, which is located in close proximity to the 1.5 million-square-foot Parks at Arlington mall.

October 1, 2013

Retail Texas

BOULDER GROUP BROKERS $5.2M SALE OF HOUSTON WALGREENS

by admin October 1, 2013

HOUSTON — The Boulder Group has brokered the sale of a single-tenant net-leased retail property occupied by Walgreens at 9350 Highway 6 South in Houston for approximately $5.2 million. Completed in 2001, the building totals 15,020 square feet and is situated in close proximity to Home Depot and LA Fitness. More than 17 years remain on Walgreens’ lease of the space. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest investor, in the transaction. A high-net worth individual based in Texas purchased the property.

October 1, 2013

Office Texas

153,000 SF SPEC OFFICE BUILDING IN METROPLEX BREAKS GROUND

by admin October 1, 2013

RICHARDSON, TEXAS — Dallas-based Fobare Commercial and architect Parmadesign have broken ground on Collins Center, a 153,000-square-foot speculative office building in Richardson, approximately 13 miles north of Dallas. Located adjacent to the Arapho Station of Dallas Area Rapid Transit at 1225 Alma Road, the building is slated for completion in January 2014 and will be the first speculative office development in Richardson in the past decade. Collins Center’s ground-level floorplate totals 128,000 square feet, while the mezzanine on the north end of the building totals 25,000 square feet. Rick Currey and Chris Doggett of Fobare will oversee leasing, targeting both call centers and corporate tenants.

October 1, 2013

Industrial Texas

TAYLOR-DEAL AVIATION RELOCATES TO 68,500 SF IRVING FACILITY

by admin October 1, 2013

IRVING, TEXAS — Taylor-Deal Aviation will relocate its headquarters approximately seven miles south of its current Northwest Dallas home to 911 Maryland Drive in Irving. The new facility totals 68,500 square feet of office and manufacturing space and has been unoccupied since it was vacated by Project Services Group in 2011. Paul Blight of Glacier Commercial represented Taylor-Deal in the lease negotiations. Blight will also market the facility previously occupied by Taylor-Deal.

October 1, 2013

Industrial Western

SUGAR FOODS RENEWS IN SUN VALLEY

by admin October 1, 2013

SUN VALLEY, CALIF. — Sugar Foods has restructured and renewed its lease for 168,000 square feet in Sun Valley. The Class A manufacturing facility is located at 9545 San Fernando Road. The maker of Sweet n’ Low was in the fifth year of a seven-year term. Its new lease extends Sugar Foods’ occupancy an additional five years. Sugar Foods was represented by Bart Pucci of Studley. The landlord, Invesco, was represented by John DeGrinis of Colliers.

October 1, 2013

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