Property Type

CORALVILLE, IOWA — Von Maur has opened an80,000-square-foot department store in Iowa River Landing, a 180-acre mixed-use development in Coralville. OliverMcMillan is the master developer of Iowa River Landing, which is situated along the Iowa River. The mixed-use development includes a 286-room flagship Marriott Hotel and Conference Center, a 100-room Homesuites Hotel and the University of Iowa Hospital and Clinics’ new 150,000-square-foot facility. The master-planned development includes 330,000 square feet of retail, office, residential and entertainment offerings. Construction is set to begin later this year on a multi-story residential development, which includes 60 condominiums and 13 townhouses. The residential development is projected to open in spring 2015.

FacebookTwitterLinkedinEmail

RIVERSIDE, ILL. — Marcus & Millichap has arranged the $1.2 million sale of Riverside Apartments, a 21-unit apartment property in Riverside, a western suburb of Chicago. Jim Walsh, James Clough and Joseph Smazal, investment specialists in Marcus & Millichap’s downtown Chicago office, marketed the property on behalf of the seller, a long-term property owner trust. Andrean Angelov and Ryan D. Engle, investment specialists in Marcus & Millichap’s Chicago Oak Brook office represented the buyer, a local investor. Built in 1927, Riverside Apartments is located at 3408-3412 S. Harlem Ave. and includes nine garages and 18 parking spaces.

FacebookTwitterLinkedinEmail

OAKBROOK TERRACE, ILL. — NAI Hiffman has been awarded management and leasing assignments for Tower Station in West Chicago, Railway Plaza in Naperville and Nelson Plaza in New Lenox. The addition of the three properties expands NAI Hiffman’s retail management and leasing portfolio in the Chicago metropolitan area to more than 56.6 million square feet. Tower Station, a 23,184-square-foot strip center located at 956 N. Neltnor Blvd., is shadow-anchored by Aldi grocery store. Railway Plaza, a shopping center located at 572 Western Ridge Court, is anchored by Starbucks. Nelson Plaza, a 32,655-square-foot shopping center located at 402-414 Nelson Road, has three vacant units ranging in size from 1,322 to 6,029 square feet.

FacebookTwitterLinkedinEmail

SOMERVILLE, MASS. — New England Construction (NEC) has completed construction on Brooklyn Boulders Somerville, a 38,000-square-foot rock-climbing, bouldering and fitness facility in northwest Boston near Union Square. NEC began construction on the facility, which includes a 40-foot long, 22-foot tall bouldering wall, earlier this year. The tenant, Brooklyn Boulders, worked with climbing wall designer Vertical Solutions and architecture firm Arrowstreet, to design the facility. Additionally, some of the amenities of the new facility include meeting space atop the 22-foot tall bouldering wall, a glass-enclosed lounge with fireplace, 40-indoor bike parking spaces, cardio and fitness areas and locker rooms.

FacebookTwitterLinkedinEmail

NEW YORK CITY — Massey Knakal has arranged the sale of a 21,678-square-foot mixed-use building in Manhattan’s Harlem neighborhood, for $5 million in an all-cash transaction. The six-story, walk-up building is located at 203 W. 144th St. and includes 28 residential and two commercial units. Of the residential units, 18 are two-bedroom units and 10 are three-bedroom units. A church and a retail tenant occupy the two ground-floor units. Josh Lipton and Michael Amirkhanian of Massey Knakal represented the seller and buyer, private investors, in the transaction.

FacebookTwitterLinkedinEmail

NEW YORK CITY — Marcus & Millichap has arranged the $1.7 million sale of 693 Madison Street, a 9,036-square-foot apartment property in Brooklyn. The sales price of the eight-unit multifamily property represents approximately $215,000 per unit and $190 per square foot. Dan Greenblatt, Shaun Riney and Derek Bestreich, investment specialists in Marcus & Millichap’s Brooklyn office, marketed the property on behalf of the seller, a private investor. Bestreich, Greenblatt and Riney also represented the buyer, a fund manager.

FacebookTwitterLinkedinEmail

CHAZY, N.Y. — Northstar 41 LLC has hired Binswanger to sale and/or lease a 386,060-square-foot medical research facility in Chazy, located in northern New York near the Canadian border. Among the research and lab space, the facility also includes 17,000 square feet of warehouse space and 39,074 square feet of office space. The property is located one-half mile from I-87, approximately 14 miles from Plattsburgh and 50 miles from Montreal, Canada.

FacebookTwitterLinkedinEmail

BRYAN, TEXAS — SenQuest Senior Living has purchased Waldenbrooke Estates, a 180-unit independent senior living apartment property totaling approximately 164,150 square feet in Bryan. Waldenbrooke, which offers both one- and two-bedroom units in four three-story buildings, has undergone nearly $260,000 in capital improvements since 2011. The complex is located at 2410 Memorial Drive. SenQuest is the senior housing division of Los Angeles-based Titan Real Estate Investment Group Inc.

FacebookTwitterLinkedinEmail

IRVING, TEXAS — Quadrant Investment Properties LLC has purchased Irving’s Union Bower Business Park, a six-building, 302,848-square-foot office property. This is the second acquisition for Quadrant, which was formed in July 2012 and is headquartered in Dallas. Adam Graham of Lee & Associates represented the buyer, while Mercer Co.’s Ryan Boozer and Corby Hodgkiss represented the seller and will continue to lease the project.

FacebookTwitterLinkedinEmail

SAN ANTONIO AND ROUND ROCK, TEXAS — With space secured for two new locations, sports club chain LA Fitness will expand into central Texas. Venture Commercial Real Estate has brokered leases for 45,000 square feet in the second phase of an existing development at Loop 410 and Military Drive in San Antonio and 35,000 square feet in a new development at Highway 620 and O’Connor Drive in Round Rock. John Zikos, Jonathan Cooper and Chris Booras of Venture represented LA Fitness in both deals. Whit Jordan and Thomas Tyng of REATA Real Estate Services represented the landlord in San Antonio, while Barclay Real Estate Services LLC in Round Rock represented itself.

FacebookTwitterLinkedinEmail