Property Type

KRAFT'S GLOBAL SNACKS BUSINESS TAKES SPACE IN CORAL GABLES

by admin February 12, 2013

CORAL GABLES, FLA. — Mondelez International, Kraft Foods' high-growth global snacks business, will occupy 15,600 square feet of Class A office space at 396 Alhambra's North Tower in Coral Gables, which will serve as the company's Latin American headquarters. 396 Alhambra, a new mixed-use office and retail complex developed by Agave Holdings LLC, is now 70 percent leased less than one year after delivering to market. Mondelez will relocate from nearby 355 Alhambra. Danet Linares and Andres del Corral of Blana Commercial Real Estate represented the landlord, 396 Alhambra LLC, in the transaction. Chris Porter and William Holly, formerly of Cushman & Wakefield and now with Pointe Group Advisors, represented the tenant.

February 12, 2013

LAW FIRM RENEWS LEASE IN ATLANTA'S BANK OF AMERICA PLAZA

by admin February 12, 2013

ATLANTA — Law firm Hunton & Williams has signed a seven-year, 50,000-square-foot lease renewal at Bank of America Plaza, located at 600 Peachtree St. in Atlanta. The firm has maintained its Atlanta offices in the 55-story tower since 1993. The renewal is the first transaction closed in the building since the property went into foreclosure in February 2012. CW Capital Asset Management is the special servicer on the property. Lisa Dunavin and Will Porter of Cushman & Wakefield represented the landlord, CW Capital, in the transaction. Brad Armstrong and Keene Reese of Jones Lang LaSalle represented the tenant.

February 12, 2013

Midwest Multifamily

HFF CLOSES $101M SALE, FINANCING LOAN FOR MSU HOUSING

by admin February 12, 2013

EAST LANSING, MICH. — Chicago-based HFF has closed on the $101 million sale of an off-campus, three-property student housing portfolio serving Michigan State University in East Lansing. The 852-unit, 2,772-bed student housing property has an average occupancy of 96 percent. Properties in the portfolio include The Club at Chandler Crossing located at 3850 Coleman Road; The Village at Chandler Crossings located at 3839 Hunsaker St.; and The Landings at Chandler Crossings located at 16789 Chandler Road. HFF also arranged the financing. The long-term, fixed-rate $85 million loan is with a CMBS lender on behalf of the buyer, Westpac Investments. HFF represented the seller, Boston-based Long Wharf Real Estate Partners LLC, in the deal.

February 12, 2013

Midwest Retail

OLD TIME POTTERY LEASES 78,271 SF IN WEST CHICAGO

by admin February 12, 2013

CHICAGO — Inland Real Estate Corp. has signed Old Time Pottery to a lease for a 78,271-square-foot store at the Mosaic Crossing shopping center in West Chicago. The store, which is expected to open this summer, will be the retailer’s third location in metro Chicago. The Mosaic Crossing shopping center is located at the intersection of Route 64 and 59 and is anchored by Dollar Tree and Hobby Lobby. Old Time Pottery is leasing 100 percent of Inland’s stake in Mosaic Crossing.

February 12, 2013

Midwest Office

DUKE REALTY LEASES 72,500 SF AT LAUMEIER OFFICE PARK IN ST. LOUIS

by admin February 12, 2013

ST. LOUIS — Duke Realty Corp. has closed on two leases totaling 72,503 square feet in Class A office properties in Laumeier Office Park in St. Louis. The transactions include a 30,927-square-foot expansion by Panera Bread in Laumeier I, which brings the 116,277-square-foot building to fully occupancy. The second lease with New Balance Athletic Shoe Inc. is for 41,576 square feet in Laumeier II. Duke Realty owns and manages approximately 290,000 square feet in three Class A office buildings in Laumeier Office Park located at 3660 S. Geyer Road.

February 12, 2013

Healthcare Midwest

MOLINA HEALTHCARE TO OCCUPY 37,127 SF OF OFFICE SPACE IN OAK BROOK, ILL.

by admin February 12, 2013

OAK BROOK, ILL. — Molina Healthcare has reached an agreement with owner The Davis Cos. to occupy 37,127 square feet of office space at The Crossings, a 303,510-square-foot office building. A Fortune 500 Company, Molina Healthcare provides quality healthcare to financially vulnerable individuals and families. Davis Cos. has invested $6.2 million in renovations of the building during the last three years. The Crossings was 93 percent leased at the time of sale, up 30 percent from 2010. Dan O’Neill of NAI Hiffman represented The Davis Cos. Charlie Copelan of McKinney Advisory Group of San Francisco represented Molina Healthcare in the deal.

February 12, 2013

Industrial Northeast

BARNES & NOBLE DISTRIBUTION CENTER BUILDING SELLS FOR $83M

by admin February 12, 2013

MONROE TOWNSHIP, N.J. — CenterPoint Properties has purchased Barnes & Noble’s primary distribution center building for $83 million in Monroe Township. The 1.15 million-square-foot industrial property was constructed in 2005 and is located at Exit 8A of the New Jersey Turnpike. Cushman & Wakefield represented the buyer and the seller, a pension fund advisory firm. Barnes & Noble’s lease runs through 2020.

February 12, 2013

Industrial Northeast

INDUSTRIAL BUILDING SELLS FOR $40.7M IN LONG ISLAND CITY

by admin February 12, 2013

LONG ISLAND CITY, N.Y. — A 322,390-square-foot industrial building has sold for $40.7 million to two tenants-in-common entities. The three-story industrial property, which is managed by BLDG Management Co., is located at 47-25 34th St. in Long Island City, the westernmost neighborhood of New York City. Current tenants in the building include Polo Ralph Lauren, Gander and White and Eleni’s Bakery, among others. RFK Investment Sales and Advisory Services represented the seller, 4725-34 Associate LLC, and the buyer in the deal.

February 12, 2013

Industrial Northeast

LEE & ASSOCIATES CLOSES $9M INDUSTRIAL SALE IN ENGLEWOOD, N.J.

by admin February 12, 2013

ENGLEWOOD, N.J. — Lee & Associates has closed the $9 million industrial sale of 330 S. Van Brunt St. in Englewood. Built in 1979, the single-tenant, net-leased facility is leased to DENTSPLY, a global manufacturer of affordable dental products. Michael Schaible of Lee & Associates represented the seller, Humphrey S. Lewis Urban Renewal Corp., Jeffrey Miller, also of Lee, represented the buyer, ITT Acquisitions LLC.

February 12, 2013

Northeast Seniors Housing

JOINT VENTURE PURCHASES ASSISTED LIVING COMMUNITY FOR $7.1 MILLION

by admin February 12, 2013

MONROE TOWNSHIP, N.J. — A joint venture between Chelsea Senior Living and Focus Healthcare Partners and Artemis Real Estate Partners has acquired The Residence at Forsgate for $7.1 million via a court-ordered receivership sale. The 69,000-square-foot assisted living facility was developed in 1996 and was 64 percent occupied at the time of sale. The three-story property has 89 units of assisted living and a separate 28-unit memory care wing.

February 12, 2013

Newer Posts

Older Posts

Upcoming Events

Aug
25