Property Type

ZIONSVILLE, IND. — Meridian Design Build’s National Projects Group has broken ground on a 303,000-square-foot package sorting and distribution center in Zionsville for Scannell Properties. The build-to-suit facility will be the first development in the new Ripberger Business Park, which is located about 20 miles north of Indianapolis. The main building will include 291,000 square feet of package sorting/distribution space and 12,000 square feet of office space. Three separate out-building structures will be constructed on the 43-acre site to accommodate security, vehicle maintenance and seasonal storage requirements. Michael Winger of Meridian Design Build is leading the project team. Bob Kolcz and Fred Jennings, also of Meridian Design Build will coordinate work at the project site. Precept Design LLC is the architect, and American Structurepoint Inc is completing civil engineering work.

FacebookTwitterLinkedinEmail

NAPERVILLE, ILL. — Boombah, a sports apparel store, has opened a 6,435-square-foot location at Westridge Court in Naperville. The property is located on the northeast corner of Route 59 and Aurora Avenue, about 30 miles west of Chicago. Robert Schroedter of Yorkville, Ill.-based Site Solution Real Estate Advisors represented Boombah in the transaction. Brixmor is the owner of Westridge Court and was self-represented by Brad Ratajczak.

FacebookTwitterLinkedinEmail

NEW YORK CITY — Brack Capital Real Estate has sold The James New York, a boutique hotel located at 27 Grand St. in SoHo, for $85 million. Under new ownership, Denihan Hospitality Group will continue to manage the property. Newark, N.J.-based Prudential Finance Inc. purchased the building, according to Crains New York. Completed by Brack in 2010, the hotel was designed by locally based ODA Architecture in collaboration with Perkins Eastman and Thomas Schlesser. The property includes a rooftop lounge, private pool and bar with indoor and outdoor seating.

FacebookTwitterLinkedinEmail

LITTLE FERRY, N.J. — Mack-Cali Realty Corp. (NYSE: CLI ) has sold its Mack-Cali Airport property located in Little Ferry, about 10 miles west of Manhattan, for $32.3 million. Currently 100 percent leased, the property stands two stories tall and contains 286,628 square feet of commercial space. The flex/office building is located at 200 Riser Road and adjacent to the Terboro Airport. “The sale of this property continues our strategy of recycling our capital out of non-core assets to fuel our diversification into multifamily,” says Mitchell Hersh, president and CEO of Mack-Cali. The seller’s information was undisclosed.

FacebookTwitterLinkedinEmail

WINDHAM, MAINE — Marcus & Millichap Real Estate Investment Services will market the ground lease on a 138,134-square-foot Lowe’s in Windham, located about 11 miles northwest of Portland, for $12.8 million, or $93 per square foot. The 20-year, triple-net lease has 12 years left on its term. The store is located at 64 Manchester Drive. Robert Horvath and Todd Tremblay of Marcus & Millichap’s Boston office are representing the seller, a regional developer.

FacebookTwitterLinkedinEmail

HOUSTON — Piedmont Office Realty Trust has sold 1200 Enclave Parkway, a 149,683-square-foot office building in Houston, for $48.75 million, or $326 per square foot. The Griffin Capital Corp. purchased the property on behalf of Griffin Capital Essential Asset REIT Inc. The Class A property is fully leased to Schlumberger Technology Corp., a subsidiary of Schlumberger Limited. Jeff Hollinden and Robert Williamson of HFF, along with Piedmont's Karen Purdy, represented the seller in the transaction. The buyer was self-represented.

FacebookTwitterLinkedinEmail

ODESSA, TEXAS — The Belaire Group, a Dallas-based senior living consultant, has completed construction oversight of Orchard Park of Odessa, an assisted living and memory care facility located in Odessa. The $11 million, 65,000-square-foot project features 57 assisted living units and 40 memory care units. The property is located at 8050 Dr. Emmet Headlee St. The facility has received its certificate of occupancy and is awaiting final inspection from the Texas Department of Aging and Disability Services. The owner and developer, McFarlin Group, funded the development with both capital from the U.S. Department of Housing and Urban Development and private equity. Meridian Senior Living will manage the new facility.

FacebookTwitterLinkedinEmail

HOUSTON — Marcus & Millichap has arranged the sale of a 11,740-square-foot shopping center, located at 1000 W. Gray St. in Houston. The property is situated on a 22,080-square-foot corner parcel at Montrose Boulevard and West Gray Street. Derek Hargrove and Justin Miller of Marcus & Millichap's Houston office represented the seller, a family trust, in the transaction. The buyer, Braun Enterprises, is rehabilitating the property to enhance its curb appeal, provide better visibility and increase parking.

FacebookTwitterLinkedinEmail

LUFKIN, TEXAS — Tulsa, Okla.-based AmeriBid LLC has plans to auction off a 13,172-square-foot warehouse with frontage along U.S. Highway 69 in Lufkin. The bank-ordered auction will take place on-site at 3630 E. Denman Road on May 28. The property was built in 2006 as a gymnasium but was converted in 2008 to a nightclub with multiple bars, a wood dance floor and office space. The steel-frame building features 25-foot ceiling heights and has central air and heat.

FacebookTwitterLinkedinEmail