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MidwestMixed-Use

ESSEX REALTY BROKERS $3.2M SALE OF MIXED-USE PROPERTY

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CHICAGO —Essex Realty Group Inc. has arranged the $3.2 million sale of Thalia Hall, a historic mixed-use property located in Chicago’s Pilsen neighborhood. Thalia Hall includes a two-level restaurant with a large kitchen and office in the basement, a vacant theater, three first-floor commercial spaces with basements, eight duplex apartments and six garage parking spaces. The mixed-use property is located at 1215-25 W. 18th St. Doug Fisher, Matt Welke and Jason Fishleder of Essex represented the seller and the buyer in the transaction.

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MidwestRetail

ALDI LEASES FORMER 28,048 SF BEST BUY IN ADDISON, ILL.

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ADDISON, ILL. — Discount grocer Aldi has leased 28,048 square feet at the former Best Buy building in Addison, a suburb of Chicago. The building is located at 1038 N. Rohlwing Road at the I-355 and West Lake Street interchange. The Addison store will be Aldi’s 140th store in the Chicago area. Craig Lillibridge, first vice president at CBRE, represented Aldi in the transaction. CBRE also represented the landlord.

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MidwestMultifamily

16-UNIT APARTMENT BUILDING IN CREST HILL, ILL., SELLS FOR $1M

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CREST HILL, ILL. — Marcus & Millichap has arranged the sale of 1500 Pioneer Road, a 16-unit apartment property in Crest Hill, about 35 miles southwest of Chicago, for $1 million. Adam Fortino, Ryan Engle and Andrean Angelov, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, marketed the property on behalf of the seller, a private investor. The buyer, a limited liability company, was also secured and represented by Engle and Fortino. The apartment property includes four studios and 12 two-bedroom units spanning approximately 500 to 850 square feet respectively. The property has undergone many recent capital improvements including a brand new roof and privacy fence.

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NortheastOffice

AMERICAN REALTY TO BUY OFFICE BUILDING FOR $220.3M

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NEW YORK CITY — American Realty Capital New York Recovery REIT Inc. (NYRR) has entered into an agreement to acquire the fee simple interest in a 10-story office building in Manhattan for $220.3 million. The 347,000-square-foot building is located at 333 W. 34th St. Midtown and is fully occupied. NYRR is purchasing the interest from SL Green Realty Corp. (SL Green). Tenants at the building include The Segal Co., The Metropolitan Transportation Authority, Godiva Chocolatier Inc. and Sam Ash New York Megastores LLC. The Jones Lang LaSalle New York Capital Markets team represented SL Green in this transaction.

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Mixed-UseNortheast

WS DEVELOPMENT TO BREAK GROUND ON THE OUTLETS AT CHESHIRE

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CHESHIRE, CONN. — WS Development will begin construction on The Outlets at Cheshire in early 2014. The 500,000-square-foot center in Cheshire, slated for completion in summer 2015, will be located at the I-84/I-691 Interchange along Route 10. The open-air shopping and entertainment complex will include walkways, recreational amenities, a residential component and a grocer. The development company is targeting fashion and designer outlet stores for the remaining retail space at the project.

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Mixed-UseNortheast

SIX MIXED-USE BUILDINGS IN MANHATTAN SELL FOR $32.3M

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NEW YORK CITY — A portfolio of six mixed-use buildings in Manhattan’s Greenwich Village has sold for $32.3 million. The portfolio includes 47 residential units and seven commercial spaces. Peter Hauspurg, chairman and CEO of Eastern Consolidated, represented the seller, multigenerational owner Noah Osnos, in the transaction. Ben Tapper, senior director of Eastern Consolidated, procured the buyer, a partnership between Dalan Management and RWN Real Estate Partners LLC. The six contiguous buildings include 89 & 91 Christopher St. and 329, 333, 337 and 341 Bleecker St. Attorneys in the transaction were Eric Kahan, Esq. of Sperber Denenberg & Kahan PC for the seller, and Dan Altman, Esq. and chair of Belkin Burden Wenig & Goldman LLP for the buyer.

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NortheastOffice

SSH REAL ESTATE SELLS OFFICE BUILDING FOR $17.5M

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PHILADELPHIA — SSH Real Estate has sold Chestnut Place, a 140,000-square-foot, Class B office building in Philadelphia, to a partnership led by Alterra Property Group LLC for $17.5 million. The seller was 15th and Chestnut L.P., a limited partnership led by general partners Peter Soens and Jeffrey Seligsohn, principals of SSH Real Estate. The partnership acquired the building in 2005 for approximately $11.4 million. During the past several years, SSH Real Estate has positioned selected office leases to have the flexibility to allow for residential conversion. The building is located at the corner of 15th and Chestnut streets.

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RetailTexas

REIT BUYS FOUR SHOPPING CENTERS TOTALING $117M

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CINCINNATI, OHIO — Phillips Edison-ARC Shopping Center REIT Inc. has acquired four grocery-anchored shopping centers for a total purchase price of approximately $117 million. The properties include Northcross, a 280,243-square-foot shopping center located in Austin. A 98,800-square-foot Walmart Supercenter anchors the property and is leased through March 2029. Other tenants include Walgreens, GameStop, GNC, Guitar Center, Great Clips and Weight Watchers. The other properties included in the announcement are Shiloh Square in metro Atlanta, Glenwood Crossings in metro Milwaukee and The Pavilions at San Mateo in Albuquerque, N.M. The four acquisitions bring the REIT's total portfolio to 46 properties in 18 states totaling $650.7 million.

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IndustrialTexas

GRAMERCY PROPERTY TRUST ACQUIRES FOUR FACILITIES FOR $82M

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NEW YORK CITY — Gramercy Property Trust Inc. has closed on four acquisitions in Dallas, southern New Jersey, Houston and Orlando, Fla., for approximately $82 million combined. The properties include a wholesale automotive auction facility located in Hutchins in the Dallas MSA and a cross-dock truck terminal in Houston. Gramercy purchased the auction facility for approximately $58.5 million, which includes the assumption of a $26.3 million first mortgage that is co-terminus with the lease. The property is fully leased through June 2029. Gramercy purchased the Houston terminal, which has 189 dock doors, and the Orlando terminal for a combined $12 million. The Houston terminal is leased through May 2019. Gramercy purchased the industrial freezer/cooler facility for approximately $11.8 million.

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HospitalityTexas

OMNI HOTELS PURCHASES, REFLAGS AUSTIN RESORT

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AUSTIN, TEXAS — Omni Hotels & Resorts has purchased and reflagged the Omni Barton Creek Resort & Spa in Austin from KSL Capital Partners LLC, a private equity firm. The property is heralded as the No. 1 golf resort in Texas with four championship level courses and Texas' only Callaway Performance Center. The property also features 318 guest rooms, full-service spa, meeting/wedding facilities and several dining options. The seller recently upgraded the property's guest rooms and meeting spaces.

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