Property Type

COOPER COLONY TOWNHOMES IN WESTERVILLE, OHIO SELLS FOR $3.2M

by admin January 31, 2013

WESTERVILLE, OHIO — Cooper Colony Townhomes, a 70-unit low-income tax credit apartment property, has sold for $3.2 million. Ryan Tobias, Shaun Buss and Sean Lyons of Chicago-based Triad Real Estate Partners in conjunction with Columbus-based Commercial One Realtors represented the seller, an affordable housing owner and developer in Minneapolis. The buyer was a local real estate investment group looking to expand its apartment portfolio in the Columbus market. The property, located 10 miles north of downtown Columbus, was fully occupied at the time of the sale.

January 31, 2013

CONSTRUCTION BEGINS ON 57,000 SF TOYOTA DEALERSHIP IN OMAHA

by admin January 31, 2013

OMAHA — Darland Construction Co. has begun construction on the 57,000-square-foot Village Pointe Toyota dealership in Omaha. The building will feature a distinctive mix of materials including glass, precast and aluminum composite architectural panels. The 7.8-acre site will display more than 550 new cars and provide more than 100 parking stalls for staff and customers, nearly tripling the capacity of the exiting Old Mill Toyota site. When construction is completed this summer, the current Old Mill Toyota will relocate the new facility. The Van Tuyl Group owns the property, and Purdy & Slack Architects is the architect.

January 31, 2013

Industrial Midwest

KAPSTONE PAPER SIGNS LONG-TERM LEASE ON INDUSTRIAL SPACE IN AURORA, ILL.

by admin January 31, 2013

AURORA, ILL. — Liberty Property Trust and KapStone Paper & Packaging Corp. have signed a leased for 192,00 square feet of industrial space at Butterfield III, located at 2759 N. Eola Road in Aurora. The lease brings the 506,000-square-foot building to 100 percent occupancy. KapStone moved into the building in January after renovations to accommodate the tenant’s manufacturing needs were completed. The fit-out included the installation of additional dock and rail car doors, a design center and employee amenities. Colliers International represented both the tenant and the building owner, Liberty Property Trust, in the deal. Krusinski Construction Co. of Oak Brook, Ill. served as the general contractor. The project architect is Kwasek Architects.

January 31, 2013

Multifamily Northeast

THE MAYFLOWER BUILDING ON THE LOWER EAST SIDE SELLS FOR $11.3M

by admin January 31, 2013

NEW YORK CITY — Red Brick Properties has sold a mixed-use building known as The Mayflower at 221-223 East Broadway for $11.3 million. The 21,309-square-foot property was built in 1907 and consists of 26 apartment units, six stores and two cellphone antennas. Recent upgrades to the building include a lobby renovation, a new boiler, intercom system and security cameras. Michael DeCheser and Robert Burton of Massey Knakal represented the seller in the transaction. The buyer was a Long Island-based investor.

January 31, 2013

Northeast Retail

FLORIDA-BASED BURGERFI EXPANDS CHAIN TO NYC

by admin January 31, 2013

NEW YORK CITY — Florida-based chain BurgerFi will open its first New York City location next week at 1571 Second Ave. on the Upper East Side. The fast-casual restaurant bases its food on the roadside burger stand of the 1950s and 1960s, but with the inclusion of all-natural ingredients. The chain prides itself on its “farm-to-tray” approach, which means humanely raised, antibiotic- and hormone-free beef. Menu items include Wagyu Kobe hot dogs, vegetarian quinoa burgers and frozen custard. The opening is the first of two planned Manhattan locations for the chain. Nationwide, there will be 16 outposts by the end of February, and the plan is to have 60 across the country by the end of the year.

January 31, 2013

Northeast Office

MARCUS & MILLICHAP ARRANGES SALE OF 71,866 SF OFFICE BUILDING

by admin January 31, 2013

HENRIETTA, N.Y. — Marcus & Millichap has arranged the $5.8 million sale of a 71,866-square-foot NY State Department of Transportation office building in Henrietta. The property is located at 1530 Jefferson Road. Steven Stoehrer and Preet Sabharwal of Marcus & Millichap represented the seller, a private investor, in the transaction. They also represented the buyer, a developer.

January 31, 2013

Multifamily Northeast

TWO BUILDINGS SELL FOR $12.3M ON CLINTON BLOCK

by admin January 31, 2013

NEW YORK CITY — Besen & Associates has arranged the sale of two apartment properties, 436-438 W. 52nd St. and 434 W. 52nd St., in the Clinton neighborhood of Manhattan. Buildings 436-438, which include 28 units, sold for $8 million. Building 434, a 14-unit property, sold for $4.3 million. Michael Besen and Matthew Slonim of Besen & Associates represented the seller in the 436-438 W. 52nd St. transaction. Glenn Raff, also of Besen, represented the buyer, a local private investor. Raff represented both parties in the 434 W. 52nd St. transaction.

January 31, 2013

Multifamily Texas

ARA SECURES SALE OF WESTOVER HILLS IN SAN ANTONIO

by admin January 31, 2013

SAN ANTONIO — ARA has arranged the sale of the 256-unit Westover Hills apartment community, located at 7727 Potranco Road in San Antonio. Resident amenities of the community include a resort-style swimming pool, fountain, outdoor fireplace, BBQ grilling, cabana, outdoor TV and landscaping. The community is 92 percent occupied. Patton Jones of ARA's Austin office, along with Casey Fry of the firm's San Antonio office, represented the seller, Austin-based Teeple Partners, in the transaction. Canada-based Venterra Realty was the buyer.

January 31, 2013

Multifamily Texas

NEW MASTER-PLANNED COMMUNITY COMING TO AUSTIN AREA

by admin January 31, 2013

CEDAR PARK, TEXAS — Ryland Homes Austin plans to build its newest community, The Reserve at Twin Creeks, in Cedar Park, near Austin. The 760-acre, master-planned community will consist of 76 homes and 50 condominiums in three neighborhoods — The Crossings, The Bluffs and Sunset Ridge Condominiums. The development is adjacent to the Balcones Canyonlands Conservation Preserve. Resident amenities will include a private clubhouse with upscale dining, tennis courts, a recreation center, water park and two swimming pools.

January 31, 2013

Industrial Texas

LEVEY GROUP SIGNS TENANT TO 150,000 SF LEASE

by admin January 31, 2013

HOUSTON — Levey Group, an industrial development company, has executed a 150,000-square-foot office/warehouse lease with Crane Worldwide Logistics at 6501 Navigation in Houston. The 21.6-acre industrial complex is located east of downtown Houston near the ship channel. Jim Foreman and Beau Kaleel of Cushman & Wakefield represented Levey Group in the transaction. Ed Frantz and Kevin Kushner of CBRE represented Crane Worldwide Logistics.

January 31, 2013

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