Property Type

LAW FIRM SIGNS 40,000 SF LEASE IN WEST PALM BEACH IN $25M DEAL

by admin September 12, 2013

WEST PALM BEACH, FLA. — Taylor & Mathis has arranged a 12-year lease deal with Akerman Senterfitt LLC, Florida's largest law firm, for 40,000 square feet of office space in downtown West Palm Beach. In the $25 million deal, the law firm is leasing space for two-and-a-half floors at Phillips Point, a 500,000-square-foot office and retail complex located in West Palm Beach's central business district. Other notable tenants of Phillips Point include Global Capital Econometrix LLC, BMO Harris Bank, Goldman Sachs, Squire Sanders, Morgan Stanley and Greenberg Taurig. Brian Gale of Taylor & Mathis, along with Matt Cheezem of CRESA Partners, brokered the lease transaction.

September 12, 2013

BLUE ROCK, KONOVER SOUTH BUY MADISON AT LAKE GIBSON FOR $12M

by admin September 12, 2013

LAKELAND, FLA. — Tampa, Fla.-based Blue Rock Partners LLC and Konover South LLC, have purchased the 220-unit Madison at Lake Gibson apartments in Lakeland for nearly $12 million. The property is located at 5233 U.S. Highway 98 N. and will be rebranded as The Park at Cortona. The partnership between Blue Rock and Konover South will spend approximately $1.8 million in exterior renovations in the next 12 months and interior renovations in the next 24 months. The partnership purchased the apartment community from Lake Gibson Apartment Associates LP. Cushman & Wakefield brokered the transaction. This is Blue Rock Partners' fifth Tampa Bay/Orlando acquisition in the past 12 months.

September 12, 2013

Multifamily Southeast

UC FUNDING PROVIDES $10.5M LOAN FOR APARTMENT COMPLEX IN DECATUR

by admin September 12, 2013

DECATUR, GA. — UC Funding has provided a $10.5 million loan to purchase a discounted mortgage note secured by a 1,069-unit, Class C, garden-style apartment complex in Decatur. The property consists of 41 two- and three-story buildings. The borrower, a repeat sponsor of UC Funding, will complete a $6.3 million renovation to the complex. The borrower has more than 35 years of real estate experience and its portfolio consists of 10,000 multifamily units 490 hotel rooms and 750,000 square feet of office space.

September 12, 2013

Industrial Southeast

CUSHMAN & WAKEFIELD | CORNERSTONE BROKERS $6M INDUSTRIAL SALE

by admin September 12, 2013

NASHVILLE, TENN. — Cushman & Wakefield | Cornerstone's capital markets group has arranged the $6 million sale of three distribution centers in Nashville. Atlanta-based Johnson Hailey Investments purchased the facilities from ProLogis-Nashville. The properties total 174,600 square feet and are located at 1416 and 1418 Antioch Pike and 1914-1919 Elm Tree Drive.

September 12, 2013

Midwest Office

ALTER GROUP TO DEVELOP 600,000 SF OFFICE CAMPUS IN METRO CHICAGO

by admin September 12, 2013

DOWNERS GROVE, ILL. — The Alter Group has announced it will develop Corridors North, a 600,000-square-foot, four-building office campus in Downers Grove, a western suburb of Chicago. The buildings will feature all-surface parking, on-site food service and a fitness center. The Alter Group will seek LEED certification for the development. The development is located at the intersection of I-88 and I-355 expressways and is part of the 108-acre Corridors – Chicago office campus.

September 12, 2013

Midwest Multifamily

THOMPSON THRIFT TO TRANSFORM OLD SCHOOL INTO APARTMENTS

by admin September 12, 2013

TERRE HAUTE, IND. — Thompson Thrift Construction will begin work on the $11 million Warren Village Apartments project in Terre Haute later this month. The development will include the transformation of the vacant Warren Elementary School and an attached three-story building into 111 one-bedroom affordable apartments. Construction is slated for completion in 2015. The Warren Village Apartments project will seek LEED Silver certification. The Terre Haute Housing Authority is the developer, and Milestone Ventures Inc. is serving as a consultant. The school has been vacant since 2000.

September 12, 2013

Midwest Seniors Housing

SENIORS HOUSING COMMUNITY COMING TO BLUE SPRINGS, MO.

by admin September 12, 2013

BLUE SPRINGS, MO. — O’Reilly Development Co. has received approval from the Missouri Health Facilities Review Committee to develop a seniors housing community in Blue Springs, an eastern suburb of Kansas City. The review committee approved the application for 40 assisted living and 32 memory care units, which will be part of a larger continuum of care community. The entire seniors housing development will also include 76 independent living units. SWD Architects will design the project; Build LLC will serve as general contractor; and Arrow Senior Living will operate and manage the property. Construction is slated to begin before 2014.

September 12, 2013

Midwest Retail

REICHLE | KLEIN GROUP ARRANGES $2.7M RETAIL SALE IN MICHIGAN

by admin September 12, 2013

DUNDEE, MICH. — The Reichle | Klein Group has arranged the $2.7 million sale of a single-tenant property in Dundee, located about 50 miles southwest of Detroit. Applebee’s occupies the 5,466-square-foot, net-leased property. Perrysburg, Ohio-based HIZ Properties II LLC sold the building, located at 119 Whitetail Drive. Joe Belinske and Marty Gallagher of Reichle | Klein Group represented the seller in the transaction.

September 12, 2013

Northeast Retail

CRONHEIM SECURES $94.5M FOR LONG ISLAND RETAIL PORTFOLIO

by admin September 12, 2013

OCEANSIDE AND STONY BROOK, N.Y. — Cronheim Mortgage has arranged $94.5 million in long-term, permanent financing for a three-property retail portfolio in Long Island. The three loans were placed with two of Cronheim's life insurance company lenders. The 15-year, fixed rate loans include 25-year amortization schedules and an average interest rate of 3.6 percent. Situated on Long Beach Road, Oceanside Plaza is a 292,000-square-foot power center anchored by Waldbaum's, Marshalls, Kohl's, Michael's and Bed Bath & Beyond. Brooktown I, II and III are located adjacent to one another on Nesconset Highway across from the Smithtown Mall in central Suffolk County. Anchors include Lowes Home Improvement, Walbaum's, Marshalls/HomeGoods, Michael’s, AMC Loews Cinemas and Staples. David Turley, Anna Westhoff and Janet Proscia of Cronheim Mortgage arranged the financing on behalf of the borrower, a family investment company.

September 12, 2013

Multifamily Northeast

FIVE NYC APARTMENT BUILDINGS SELL FOR $13.3M

by admin September 12, 2013

NEW YORK CITY — Massey Knakal has arranged the sale of five adjoining multifamily buildings in the Brooklyn Heights neighborhood of Brooklyn for $13.3 million. The sale price equates to approximately $413 per square foot. The buildings total 32,075 square feet and are located at 54-66 Livingston St., between Clinton and Court streets. The apartment properties include 49 units, 33 of which are rent stabilized and 16 are free market. Three buildings share an elevator and the other two are walk-ups.

September 12, 2013

Newer Posts

Older Posts