CHICAGO — Marcus & Millichap has arranged the sale of a net-leased Whole Foods store in Chicago for $11.58 million. The 41,148-square-foot building, located at 6020 N. Cicero Ave., sits at ground level in a multi-story condominium complex. Marcus & Millichap’s Sean Sharko and Austin Weisenbeck represented the seller, a local partnership in this deal. Juan DeAngulo of Transwestern Investment Management represented the buyer.
CHARLESTON, ILL. — Chicago-based Triad Real Estate Partners has arranged the sale of Youngstown Apartments, an 89-unit student housing property for $3.5 million. The property serves as student housing for Eastern Illinois University in Charleston and was fully occupied at the time of sale. Ryan Tobias, Shaun Buss and Sean Lyons of Triad represented the seller, a private development company from California. The buyer was a private owner-operator based in Champaign, Ill.
OXORD, MICH. — Mid-America Real Estate has arranged the lease of a 1,402-square-foot retail space in Oxford at Oxford Crossing, north of Detroit. Adam Goodman and Gabe Schuchman of Mid-America represented the tenant, Achatz Handmade Pie Co. Larry Siedell of Walled Lake, Mich.-based Gerdom Realty & Investment represented the landlord in the deal.
GREENWICH, CONN. — Win Properties has secured a $19.1 million acquisition loan for a 32,000-square-foot office property in Greenwich. The 10-year, fixed rate loan was used to acquire the property in a sale-leaseback transaction. Located one mile north of I-95, the property is fully leased to an institutional equity trading corporation. HFF arranged the loan through Cantor Commercial Real Estate.
SYRACUSE, N.Y. — Berkadia Commercial Mortgage has arranged a $9 million loan for the refinancing of Rugby Square Apartments, a 216-unit property in Syracuse. The community is located at 215 Dorchester Ave. Nick Cassino of Berkadia arranged the 10-year loan through Freddie Mac.
NEW YORK CITY— Arbor Commercial Funding has arranged a $26.9 million loan for the refinancing of 424 Bedford Ave., a 66-unit multifamily property in Brooklyn. Arbor secured the 10-year loan through Fannie Mae. The financing includes a 30-year amortization schedule.
LEWISVILLE, TEXAS — Huffines Communities has kicked off construction of Phase II for Hebron 121 Station, a 90-acre in-fill, multifamily community located in Lewisville along Interstate 35 East and State Highway 121. The property is also adjacent to the Denton County Transit Authority Rail Station. Phase II will include adding 444 residential units, a resort-style pool complex, 14,000-square-foot clubhouse, village greens and an expansion on the existing lakefront boardwalk. Phase I of the development is currently 98 percent occupied. The project is scheduled for a late summer 2014 completion. Full completion of Hebron 121 Station is slated for 2018. Additionally, the City of Lewisville will fund and construct a bridge to form the main entrance to the community. The City will be reimbursed by the 427-acre Tax Increment Financing (TIF) zone that includes Hebron 121 Station. MUSA Financial d/b/a Mortgages USA has provided financing for the project through the HUD 221(d)(4) Multifamily Mortgage Insurance program, in addition to the Government National Mortgage Association Mortgage-Backed Securities program. Other firms involved in the development of Hebron 121 Station include Humphreys and Partners, Graham Associates, TBG Landscape Partners, Jordan Skala Engineering, Integrity Structural, HPA Design, CF Jordan Construction and Pinnacle Property Management.
GRAND PRAIRIE AND FORT WORTH, TEXAS — UCR Investment Sales has arranged the sale of Carrier Towne Crossing in Grand Prairie and Southwest Crossing in Fort Worth for $36.9 million. Carrier Towne Crossing is an 89,873-square-foot center that includes Target, Home Depot, Party City, Chase Bank, Chick-fil-A and Starbucks on its tenant roster. Southwest Crossing spans 113,528 square feet and includes tenants such as Lowe's, Kohl's, Best Buy, Garden Ridge, PetSmart, Cavender's and Lifeway Christian Store. The two shopping centers were part of a five-property portfolio sold on behalf of Retail Properties of America.
AUSTIN, TEXAS — CBRE Austin has arranged the sale of a 241,564-square-foot, single-tenant industrial property, located at 4501 Burleson Road in Austin. The triple-net leased asset is occupied by Stock Building Supply. The property is located on a 30.39-acre lot and includes an office building, two manufacturing warehouses and three bulk warehouses. Walter Saad and Cathy Nabours of CBRE's Private Capital Group in Austin, along with Greg Marberry of CBRE's Industrial Group in Austin, represented the seller, Calcasieu Real Estate Holdings, in the transaction. Austin-based Capital Commercial Investments Inc. purchased the property.
AUSTIN, TEXAS — Transwestern has brokered the sale of the 123,513-square-foot Travis Oaks at Southwest Parkway, a Class A office property located at 5113 Southwest Parkway in southwest Austin. The three-story property is 93 percent leased. Hale Umstattd, Leah Gallagher, Mike Hardage and Steve Simon of Transwestern represented the seller, TR Travis Oaks Corp., in the transaction. The buyer was Cornerstone Real Estate Advisors.
