Sunday, July 26, 2026
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HealthcareMidwest

M&M ARRANGES SALE OF OFFICE BUILDING FOR $2.8M

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PLAINFIELD, ILL. — Marcus & Millichap has arranged the $2.8 million sale of Plainfield Medical, a 19,232-square-foot, multi-tenant medical office property in Plainfield. James Clough, John Abuja and Joseph Smazal, investment specialists in Marcus & Millichap’s Chicago downtown office, marketed the property on behalf of the seller, a family estate. Howard Wiese, an investment specialist in Marcus & Millichap’s Chicago O'Hare office, represented the buyer, a private investor in a 1031 tax-deferred exchange. Plainfield Medical is located at 23909 W. Renwick Road. The property was at 86 percent occupancy with six tenants under lease at the time of sale.

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MidwestRetail

NET-LEASED AARON’S PROPERTY IN HUTCHINSON SELLS FOR $1.2M

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HUTCHINSON, KAN. — The Boulder Group has completed the $1.2 million sale of a single-tenant retail property located at 1418 E. 4th Ave. in Hutchinson. Aaron’s is the sole occupant of the 7,200-square-foot retail building, which was developed in 2011. The lease has 13 years remaining and features 7.5 percent rental escalations every five years. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction, a private Midwest-based investment firm. A Texas-based investment partnership was the buyer.

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NortheastOffice

FRENCH COMPANY SIGNS 90,000 SF OFFICE LEASE IN JOHNSTON, R.I.

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JOHNSTON, R.I. — French company Dassault Systèmes has leased 90,000 square feet within the Northwoods Office Park in Johnston, a western suburb of Providence. Currently under construction, the renovation of Northwoods will offer 338,600 square feet of Class A office space, which is slated for completion in fall 2014. The space for Dassault, a provider of 3D design software, is expected to achieve LEED Silver certification. Hobbs Brook Management LLC is the owner of the complex, which is located at 1301 Atwood Ave. The project team for the renovation includes architecture firm Margulies Perruzzi Architects; construction manager Dimeo Construction; and mechanical, electrical and plumbing engineers AHA Consulting Engineers. Other members of the team include structural engineers Odeh Engineers, Inc.; civil and landscape engineers Vanasse Hangen Brustlin, Inc. (VHB); lighting designer HLB Lighting Design; and kitchen consultants Colburn & Guyette.

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MultifamilyNortheast

M&M ARRANGES $1M SALE OF SIX-UNIT APARTMENT BUILDING

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BERNARDSVILLE, N.J. — Marcus & Millichap has arranged the $1 million sale of Westover Apartments, a six-unit apartment property in Bernardsville, located 30 miles west of Newark. Steven Rutman, Zachary Pierce and Mark Thomson, investment specialists at Marcus & Millichap, marketed the property on behalf of the seller, a private investor. Rutman, Thomson and Pierce also procured the buyer. The property, which is located at 30 W. St., includes six two-bedroom units with detached garages and private entrances.

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NortheastOffice

GERSON LEHRMAN TO MOVE HQ TO ONE GRAND CENTRAL PLACE

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NEW YORK CITY — Gerson Lehrman Group (GLG), a membership-based network for professional learning and expertise, has leased 64,361 square feet at One Grand Central Place in New York City. GLG is moving its global headquarters to the entire third floor and part of the fourth floor of the office building located at 60 E. 42nd St.With this move, slated for the third quarter of 2014, GLG will join staff from two locations — 850 Third Ave. and 845 Third Ave. Clive Wilkinson Architects will design the new space. Gary Kamenetsky and Robert Meyers of CBRE represented GLG in the lease negotiations. William Cohen and Ryan Kass of Newmark Grubb Knight Frank represented the landlord, W&H Properties.

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HealthcareTexas

PHYSICIANS REALTY TRUST MAKES $40M SALE-LEASEBACK PLAY IN EL PASO

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EL PASO, TEXAS — In a $40 million sale-leaseback transaction, REIT Physicians Realty Trust (NYSE: DOC) has acquired a 77,000-square-foot hospital and 40,000-square-foot medical office building in El Paso. The facilities are occupied by Foundation Surgical Hospital, which as part of the deal signed a new 15-year, absolute net lease for the hospital and a new five-year, triple net lease for the office building. Foundation Surgical Hospital is a joint venture owned by more than 60 physicians and Foundation Surgical Hospital Affiliates LLC, which is a wholly owned subsidiary of Graymark Healthcare Inc.

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OfficeTexas

IDI TO EXPAND GREENSPOINT BUSINESS CENTER IN HOUSTON TO 757,250 SF

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HOUSTON — IDI, an Atlanta-based industrial real estate company, will expand Houston’s Greenspoint Business Center to a total of 757,250 square feet with the construction of two new buildings. The 106,700-square-foot Building C and 244,550-square-foot Building E will join the existing Buildings A, B and D, which were collectively 93 percent occupied at the time of sale. The complex, located along Interstate 45 south of the intersection with Beltway 8, is in close proximity to George Bush Intercontinental Airport.

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HospitalityTexas

TERRA CAPITAL PARTNERS ARRANGES $8.8M MEZZANINE LOAN FOR HOTEL ACQUISITION

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FORTH WORTH, TEXAS — Terra Capital Partners has arranged $8.8 million in financing for the purchase of the Fort Worth Sheraton Hotel & Spa. The three-year mezzanine loan is part of a $58 million capital stack that allowed borrower Presidio Cos. to buy the property out of bankruptcy. Terra, which is based in New York, has originated more than 250 debt and equity investments since 2002. The 431-room Fort Worth Sheraton Hotel & Spa is a full-service hotel located in close proximity to the city’s convention center.

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RetailTexas

QUANTUM BROKERS SALE OF FAMILY DOLLAR BUILDING IN WILBURTON, OKLA.

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WILBURTON, OKLA. — Quantum Real Estate Advisors has brokered the sale of an 8,000-square-foot build-to-suit retail building leased to Family Dollar in Wilburton, approximately 120 miles south of Tulsa. At the time of sale, the tenant had nine years remaining on an initial 10-year, double net lease. Quantum’s Jordan Kaufman represented the seller, a private developer based in Houston, and the buyer, a private 1031 tax-deferred exchange buyer from California.

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HospitalityWestern

PEBBLEBROOK HOTEL TRUST BUYS HOTEL MODERA IN PORTLAND FOR $47.5M

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PORTLAND, ORE. — Pebblebrook Hotel Trust has purchased the 174-room Hotel Modera in Portland for $47.5 million. The hotel is located at 515 SW Clay Street. It was originally built in 1962 and underwent a $13-million renovation in 2008. The seller, Posh Ventures LLC, was represented by Paramount Lodging Advisors in this transaction.

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