BOSSIER CITY, LA. — UCR Investment Sales has arranged the sale of a 15,000-square-foot Nike Factory Story in the Louisiana Boardwalk, a mixed-use development in Bossier City, part of the Shreveport MSA. A 26,881-square-foot land parcel adjacent to Regal Cinemas was also included in the transaction. Adam Howells, Kevin Catalani and Jessica Donnelli represented the seller, O&S Holdings, in the transaction. The buyer, Garrison Investment Group, purchased the Nike Factory Store for an undisclosed amount.
Property Type
HUDSON, OHIO — Ellsworth Partners LLC has sold Turner’s Mill Complex, an office and retail complex located at 36 E. Streetsboro Road in Hudson, to Streak Investments-Hudson I LLC for approximately $2.2 million. Turner’s Mill, which is located just southeast of Hudson Square, is anchored by Redwood Grill, Dollar Bank and Morgan Stanley Smith Barney Financial Advisors, all in long-term leases. Jerry Fiume of NAI Cummins Real Estate represented the seller in the transaction. Ellsworth Partners redeveloped the property in 2010. Hudson is approximately 15 miles north of Akron.
COON RAPIDS, MINN. — Minneapolis-based NorthMarq Capital has arranged a $5.5 million acquisition loan for Cameron Medical Center in Coon Rapids, which is approximately 15 miles north of Minneapolis. Cameron Medical Center is a 31,843-square-foot medical office building located at 3789 Coon Rapids Blvd. Patrick Minea of NorthMarq arranged the financing for the borrower.
DALLAS — HFF has arranged a $65 million refinance loan for a portfolio of 99 Burger King properties in six states. Dallas-based HFF, which represented affiliates of Jaylor Services, secured a 10-year, fixed-rate, non-recourse loan through Ladder Capital. Burger King locations in the portfolio include four in Missouri, three in Kansas, 57 in Louisiana, 22 in Alabama, four in Florida and nine in Mississippi. All properties are leased on a long-term, absolute triple-net-lease basis to an affiliate of Strategic Restaurants, a subsidiary of Ceberus Capital Management. The HFF team included Mark West and Brandon Chavoya.
INDIANAPOLIS — HSA PrimeCare has sold the North Meridian Medical Center at 10601 North Meridian Street in Indianapolis. The sales prices was undisclosed. Carmel Medical Office Building, an affiliate of tenant Multi-Specialty Surgery Center, purchased the 23,000-square-foot building. Multi-Specialty Surgery Center is expanding its current practice at the North Meridian Medical Corridor. Built in 1981 and remodeled in 1993, North Meridian Medical Center is a two-story, off-campus medical office building located near the Indianapolis central business district, Indiana University Health North Hospital, St. Vincent’s Heart Center of Indiana and St. Vincent Indianapolis Hospital. HSA PrimeCare represented itself in the transaction.
NEW YORK CITY — On behalf of Nostra Realty, JLL’s capital markets group has sold 12 East 88th Street in New York City to Simon Baron Development Group for $105 million. The 13-story, 65-unit building, located between Fifth and Madison avenues near Central Park, will be converted to luxury condominiums. Richard Baxter, Jon Caplan, Yoron Cohen, Scott Latham, Glenn Tolchin, Jason Gold and Anthony Ledesma led the JLL team in the transaction.
NEW YORK CITY — Hotel owner 10-12 MLane LLC is investing $32 million in a new 25-story, 190-room hotel situated on Maiden Lane between Nassau Street and Broadway in Manhattan. The 76,500-square-foot property will operate under the InterContinental Hotels Group’s (IHG) Hotel Indigo brand. The hotel, which is set to open in 2016, will be the fifth Hotel Indigo hotel in New York City. The hotel will feature approximately 1,450 square feet of meeting space, a fitness center and a rooftop lounge.
BROOKFIELD, CONN. — HKS Capital Partners has arranged a $24.6 million construction loan for a three-story multifamily complex featuring 165 units in Brookfield. The 132,348-square-foot proposed development site is to be called Barnbeck Place Apartments. The 24-month loan rate includes an interest rate below 3 percent and the loan-to-cost was 80 percent.
MOUNTAINSIDE, N.J. — Lee & Associates has arranged the sale of 1450 Route 22 West, a 41,531-square-foot medical office building (MOB) in Mountainside for $8.5 million, or $203 per square foot. Located near Overlook Medical Center, the building is fully leased to The Center for Ambulatory Surgery, L&M Healthcare Communications and Crest Physical Therapy. Michael Staskiewicz of Lee & Associates-New Jersey LLC represented the seller, ASC Mountainside Realty, which is owned by 36 physicians.
HOUSTON — Q10 | Kinghorn, Driver, Hough & Co. (Q10 | KDH) has arranged $7.5 million in refinancing for a portfolio of four retail properties in Houston. The assets include two multi-tenant strip shopping centers and two CVS/pharmacy ground leases. Matt Franke and Ray Driver III of Q10 | KDH negotiated the terms of the fixed-rate, 20-year refinancing on behalf of the property owner. Advantus Capital Management, a life insurance company affiliate lender, provided the refinancing.