Property Type

M&M ARRANGES $1.5M SALE OF 3,378 SF PROPERTY IN PORTAGE

by admin August 9, 2013

PORTAGE, MICH. — Marcus & Millichap has arranged the $1.5 million sale of a 3,378-square-foot, net-leased property in Portage, located about 50 miles south of Grand Rapids. Glen Kunofsky, executive vice president of investments at Marcus & Millichap’s Manhattan office, marketed the property on behalf of the seller, a partnership. Jonathan Dwoskin, also of Marcus & Millichap, assisted in closing the transaction. Wendy's occupies the property, which is located on a 1.4-acre parcel at 4301 W. Centre Ave. The restaurant signed a new 20-year, triple-net lease at closing.

August 9, 2013

JLL TO MARKET 55,000 SF GENEVA COMMONS SHOPPING CENTER

by admin August 9, 2013

LAKE GENEVA, WIS. — Jones Lang LaSalle has been hired to sell the 55,100-square-foot Geneva Commons shopping center in Lake Geneva, about 50 miles southwest of Milwaukee. The complex is fully preleased to tenants including TJ Maxx, Jo-Ann Fabrics & Crafts, DaVita Dialysis, Rue21, Kay Jewelers and Great Clips. The shopping center will open for business this fall. Geneva Commons is located on 8.1 acres near the intersection of U.S. Route 12 and Highway 50. Guy Ponticiello, Maury Vanden Eykel and Matthew Berres of Jones Lang LaSalle will market the property.

August 9, 2013

Healthcare Northeast

COLUMBIA TO DEVELOP 38,000 SF MEDICAL BUILDING IN NEW YORK

by admin August 9, 2013

CLIFTON PARK, N.Y. — Columbia Development Co. (CDC) will develop a 38,000-square-foot urgent care center and medical office building in Clifton Park, located 10 miles east of Schenectady. Ellis Hospital urgent care, imaging and laboratory departments will occupy the first floor, while Ellis-owned and private physician practices will occupy the second floor. The medical building will include a shared waiting room for imaging and laboratory department. The property will also feature amenities such as a vending area, children’s play area and public restrooms. CDC hired BBL Medical Facilities to plan, design and build the facility.

August 9, 2013

Northeast Retail

JOINT VENTURE BUYS 225,000 SF ARSENAL MALL IN METRO BOSTON

by admin August 9, 2013

WATERTOWN, MASS. — A joint venture between Boylston Properties, The Wilder Cos. and Jonathan Bush Jr. of athenahealth Inc. has acquired the 225,000-square-foot Arsenal Mall and the adjacent Harvard Vanguard Medical Associates building in Watertown, a suburb of Boston. Simon Property Group Inc. sold the property located on Arsenal Street. Tenants at Arsenal Mall include Sports Authority, Old Navy, Marshalls, Gap Outlet, Forever 21, Chipotle, Bath & Body Works, Ann Taylor Factory Store and Victoria’s Secret. The Wilder Cos. will take over management responsibilities at Arsenal Mall

August 9, 2013

Northeast Office

THREE NEW TENANTS JOIN 17 STATE STREET IN NYC ROSTER

by admin August 9, 2013

NEW YORK CITY — RFR Realty LLC has secured three new office leases totaling 11,040 square feet at 17 State Street, a 42-story office tower in Lower Manhattan. Internet consulting and development provider Six Dimensions signed a 4,507-square-foot lease on the fourth floor of the tower, while startup trading firm FDN Enterprises LLC and money manager Granger Management Holdings LLC took 3,270 square feet on the 38th floor and 3,263 square feet on the 32nd floor, respectively. Asking rents at the Class A property are close to $60 per square foot, according to RFR Realty. Designed by Emery Roth & Sons in 1988, 17 State Street features a curved glass facade and 15,000-square-foot boutique floors. Andrew Simon of Colliers International and Peter Wloch of Empire Properties New York represented Six Dimensions in the transaction. Arkady Smolyansky and Ben Friedland of CBRE represented FDN Enterprises LLC. Whitten Morris of Cushman & Wakefield oversaw the lease transaction on behalf of Granger Management Holdings. Steve Morrows, A.J. Camhi and Ryan Silverman represented the ownership in-house.

August 9, 2013

Northeast Office

PETEC SELLS 8,223 SF OFFICE BUILDING IN ROXBURY, N.J.

by admin August 9, 2013

ROXBURY, N.J. — NAI James E. Hanson has arranged the $790,000 sale of an 8,223-square-foot office building at 195 Route 206 South in Roxbury. Joseph Vindigni of NAI James E. Hanson represented the seller, PETEC, and secured the buyer, KCKJ EAST, in the transaction. The space is partially occupied by the sales and administrative offices of Delta Cooling Towers. NAI Hanson has been retained as the leasing agent for the remaining space. Located on 1.4 acres, the two-story building features basement space, alarm and in-ground sprinkler systems, a two-bay garage and 37 parking spaces.

August 9, 2013

Multifamily Texas

JLL ARRANGES FOUR MULTIFAMILY SALES TOTALING $120M

by admin August 9, 2013

DALLAS — Jones Lang LaSalle (JLL) has brokered the sales of four Dallas/Ft. Worth-area multifamily properties for a combined purchase price of $120 million. The properties include Park Gates at City Place in Dallas, Republic Park Vista in Ft. Worth and Silverado Apartments and The Albion at Frisco Bridges in Frisco, a northern suburb of Dallas. Jeff Price, JLL’s managing director, and Bill Simmons, senior vice president, led the brokerage team in all four transactions.

August 9, 2013

Office Texas

AEW BUYS 350,000 SF OFFICE PROPERTY IN HOUSTON’S ENERGY CORRIDOR

by admin August 9, 2013

HOUSTON — AEW Capital Management, a Boston-based real estate investment firm, has purchased Eldridge Oaks, a 350,000-square foot office building and an adjacent seven-acre lot in Houston’s Energy Corridor. The 14-story, Class A facility was 100 percent leased at time of sale. A second building of similar size is under consideration for the currently empty parcel, but no construction plans have yet been released. The seller is a joint venture that includes Hartford, Conn.-based Cornerstone Real Estate Advisers LLC acting on behalf of an institutional client.

August 9, 2013

Multifamily Texas

MARCUS & MILLICHAP BROKERS SALE OF 720-UNIT APARTMENT PROPERTY

by admin August 9, 2013

GRAND PRAIRIE, TEXAS — Marcus & Millichap Real Estate Services has arranged the sale of Windridge, a 720-unit apartment complex in Grand Prairie, to Milwaukee-based MLG Capital. Built in 1987 at 2301 East Avenue H, the property includes amenities such as three swimming pools, two spas, an executive business center and lighted mailboxes. William Jarnagin and Michael Ware of Marcus & Millichap’s Dallas office represented the buyer as well as the seller, an out-of-state property owner.

August 9, 2013

Industrial Texas

CADENCE MCSHANE COMPLETES 181,067 SF BUILD-TO-SUIT IN HOUSTON

by admin August 9, 2013

HOUSTON — Cadence McShane Construction has completed a 181,067-square-foot build-to-suit for GAC Energy & Marine Services LLC at Central Green Business Park. The facility was built to meet LEED-CS (core and shell) certification and includes 31,309 square feet of office space and three acres of outdoor storage in addition to warehouse and distribution space. This was the fourth project built at Central Green Business Park by Cadence McShane on behalf of property owner Liberty Property Trust.

August 9, 2013

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