Property Type

CMI SECURES 79,000 SF IN LEASES AT NORWOOD RETAIL CENTER

by admin December 9, 2013

NORWOOD, MASS. — CMI Property Inc. has leased 79,000 square feet of space to three retail tenants at its newly acquired shopping plaza at 560-570 Boston Providence Highway in Norwood, a southwest suburb of Boston. Bellevue, Wash.-based thrift retailer Savers Inc. leased 43,000 square feet of space. Peter Considine of the Dartmouth Co. represented Savers in the transaction. William Zoppo of Elliot & Co. represented the landlord. Launch Trampoline Park, a recreation center where children and adults can jump on trampolines, leased 23,000 square feet of retail space. Elliot Ravech of Elliot & Co. represented CMI Property in the transaction. The park is scheduled to open later this month. Big Bob’s Flooring, a flooring outlet franchise, leased 13,000 square feet. Ravech represented the landlord in the transaction. The former Syms Plaza is now fully leased. The two retail buildings at the property span 80,208 square feet and are located on an 8.5-acre site.

December 9, 2013

M&M ARRANGES $2.9M SALE OF NAVY YARDS APARTMENT BUILDING

by admin December 9, 2013

NEW YORK CITY — Marcus & Millichap has arranged the $2.9 million sale of 54 Cumberland Street, an eight-unit apartment property located in Brooklyn. Matthew Fotis and Shaun Riney of Marcus & Millichap marketed the property on behalf of the seller, a private investor. Fotis and Adam Abuaf, also of Marcus & Millichap, represented the buyer, a private investor. The building sold for $500 per square foot in an all-cash transaction. Built in 1905 and renovated in 2006, the apartment building is located between Park and Flushing avenues in the Navy Yards section of Brooklyn. The property offers amenities such as on-site laundry, storage units and close access to public transportation.

December 9, 2013

Retail Texas

WORLD CLASS CAPITAL BUYS SAN ANTONIO RETAIL CENTER

by admin December 9, 2013

SAN ANTONIO — World Class Capital Group LLC has acquired Culebra Crossing, a 141,000-square-foot retail center in northwest San Antonio. The property, located on Culebra Road two miles north of Loop 410, was 93 percent occupied at the time of the sale. Anchors of the center include WellMed and Family Dollar. World Class Capital also acquired the site’s vacant pad sites as part of the purchase.

December 9, 2013

Office Texas

SKYWALKER PURCHASES 66,885 SF LAS COLINAS OFFICE ASSET

by admin December 9, 2013

IRVING, TEXAS — SkyWalker Property Partners has acquired Campus Circle, a three-building, 66,885-square-foot office complex in the Las Colinas submarket of Irving. The single-story structures, located at 6301, 6321 and 6341 Campus Circle Drive, are in close proximity to the interchange of State Highway 114 and the Bush Turnpike. SkyWalker purchased the asset on behalf of the Hangover Opportunity Fund LLC through an auction by LNR Partners Inc. New ownership plans capital improvements for the property, which was 79 percent vacant at the time of the sale. Tom Strohbehn of Cushman & Wakefield represented the undisclosed seller in the transaction.

December 9, 2013

Seniors Housing Texas

SRS BROKERS SKILLED NURSING SALE IN SAN ANTONIO

by admin December 9, 2013

SAN ANTONIO — SRS Real Estate Partners has brokered the sale of TRISUN Care Center Lakeside, a 110-bed skilled nursing facility in San Antonio. Located at 8707 Lakeside Parkway, the 42,853-square-foot facility provides 24-hour care for long-term residents, as well as rehabilitation services. Jason Middlebrook and Bob Dickerson of SRS represented the undisclosed seller in the transaction.

December 9, 2013

Retail Texas

RETAIL CONNECTION ARRANGES 51,796 SF LEASE IN GARLAND

by admin December 9, 2013

GARLAND, TEXAS — The Retail Connection has arranged a lease of 51,796 square feet for Fitness Connection at Shiloh Square, a shopping center in the northeast Dallas suburb of Garland. Located at 2334 W. Buckingham Road, the property is in proximity to the Bush Turnpike, Highway 75, Interstate 635 and Interstate 30. Sherman Hinkebein and Wyatt Russo of The Retail Connection, along with Bob Ginsberg and Amy Nott of CBRE, represented the tenant, a gym. AVG Partners is the landlord.

December 9, 2013

Multifamily Western

ALLIANCE BUYS CORONADO BAY CLUB IN SAN DIEGO FOR $160M

by admin December 9, 2013

SAN DIEGO – Alliance Residential has purchased the 549-unit Coronado Bay Club for $160 million. The community is located at 1515 Second Street on the island of Coronado, just across from Downtown San Diego. The deal was brokered by Jones Lang LaSalle on behalf of LaSalle Investment Management. Alliance's joint venture partner in this acquisition was a large institutional pension fund investor with MetLife Real Estate Investors serving as lender.

December 9, 2013

Office Western

THE DAILY HERALD RELOCATES IN EVERETT

by admin December 9, 2013

EVERETT, WASH. – The Daily Herald has relocated its headquarters in Everett. The newspaper, which is owned by Sound Publishing, will move to 1800 Forty First Building this March. It is relocating from Commando Road. The newspaper will occupy 15,915 square feet. The two-building property formerly served as the headquarters for Verizon/Frontier Communications. The property was sold earlier this year, though its seller, Frontier, still occupies one of the buildings. The landlord was represented by Daniel Seger, Brent Jackson and Pat McCabe of Jones Lang LaSalle in this lease transaction.

December 9, 2013

Multifamily Western

LIBERTY SQUARE APARTMENTS NEAR BYU SELLS FOR $27M

by admin December 9, 2013

PROVO, UTAH – MJW Investments has acquired the 816-bed Liberty Square apartment complex near Brigham Young University (BYU) for $27 million. The complex is located at 448 E. 556 North. MJW purchased the complex in partnership with MHE Enterprises. MJW is currently expanding its student housing portfolio. Since 2007, it has acquired student housing portfolios at the University of Oregon, the University of California, Santa Barbara and BYU. The partnership has established a $200-million fund to invest in value-add student housing facilities in markets with high barriers to entry. It is targeting B- and C-level assets within walking distance of college campuses.

December 9, 2013

Office Western

PALO ALTO OFFICE BUILDING SELLS FOR $53M

by admin December 6, 2013

PALO ALTO, CALIF. — Rockwood Capital has acquired a 50,000-square-foot office building in downtown Palo Alto for $53 million. The building is located at 130 Lytton across from the city’s Caltrain Station. It is fully leased to A9, a subsidiary of Amazon, which uses the facility as its headquarters. The four-story building has outdoor patios on every floor. Rockwood teamed up with Tarlton Properties on this acquisition. The seller, KG-Lytton, LLC, was represented by Kevin Cunningham of Cornish and Carey Commercial Newmark Knight Frank, and Hernan Santos and Charlie McCabe of CBRE.

December 6, 2013

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