Property Type

20-STORY OFFICE TOWER WINS APPROVAL IN CHICAGO

by admin November 9, 2012

CHICAGO — The City of Chicago has approved the construction of 625 West Adams St., a 20-story Class A office building in Chicago's West Loop. A partnership between The Alter Group and White Oak Realty Partners will develop the 490,000-square-foot building. 625 West Adams St. will be the first office building constructed in downtown Chicago in two years. The project will be located on the site of a current parking lot at the corner of Adams and Des Plaines streets. The building will include a parking garage, conference center and fitness center. Solomon Cordwell Buenz & Associates have designed the building.

November 9, 2012

BROWNING/DUKE DELIVER REGAL'S NEW LOGISTICS HEADQUARTERS

by admin November 9, 2012

INDIANAPOLIS — Work is complete on the new 376,000-square-foot regional distribution and logistics headquarters for Regal Beloit Corp. in Indianapolis. The property is located in AllPoints Midwest, an industrial park being jointly developed by Browning and Duke Realty. The build-to-suit facility is seeking LEED certification, and the building includes water-efficient plumbing fixtures and high-efficiency heating. Regal Beloit is one of the largest manufacturers of electric motors in the world.

November 9, 2012

Midwest Retail

MAKEOVER OF GREENWOOD SHOPPES NEARS COMPLETION

by admin November 9, 2012

GREENWOOD, MO. — The renovation of the 80,255-square-foot Greenwood Shoppes at 806-914 U.S. 31 is nearing completion. Bianco Properties, which purchased the property last year, added a new roof, facade and LED lighting throughout the property. The center is located across from Greenwood Park Mall and tenants include Men's Wearhouse, Half Price Books, Casual Male and Party City. The Peterson Co. oversaw construction of the project. All businesses remained open during the renovation.

November 9, 2012

Midwest Mixed-Use

NORTHMARQ ARRANGES $8.7M REFINANCING LOAN

by admin November 9, 2012

OVERLAND PARK, KAN. — NorthMarq Capital has arranged $8.7 million for the refinancing of 95 Metcalf Square in Overland Park. The property consists of nine mixed-use office and retail buildings totaling 152,122 square feet. John Stewart and Ian Reissner of NorthMarq Capital arranged the loan.

November 9, 2012

Northeast Office

AMERICAN REALTY BUYS MIDTOWN BUILDING FOR $65M

by admin November 9, 2012

NEW YORK CITY — American Realty Capital New York Recovery REIT has agreed to buy the fee simple interest in a 149,000-square-foot office building in Midtown Manhattan. The building at 229 West 36th St. traded for $65 million. The property is fully leased and tenants include American Language Communication Center Inc. and Early Bird Delivery Systems LLC. The property is the second office building American Realty has placed under contract in the Garment District in the last two weeks. The company previously announced it would acquire 256 West 38th St. for $48.6 million.

November 9, 2012

Multifamily Northeast

91-UNIT APARTMENT PORTFOLIO SELLS FOR $18.5M

by admin November 9, 2012

BOSTON — Hamilton Co. has acquired a 91-unit apartment portfolio in the Allston and West Roxbury neighborhoods of Boston for $18.5 million. Kiaran Co. is the seller. The portfolio is located near Boston College, Boston University and Packard's Corner. The properties are also near the MBTA Green Line trains, which provide transportation to Boston, Back Bay and Cambridge. The buildings include 26 Allston St., 10-20 Armington St., 1799 Centre St. and 34 Gardner St. Boston Realty Advisors represented both parties in the transaction.

November 9, 2012

Northeast Retail

CONSOLIDATE PROPERTIES BUYS GOUVERNEUR CENTER

by admin November 9, 2012

GOUVERNEUR, N.Y. — Consolidated Properties has acquired Gouverneur Center, a 71,644-square-foot neighborhood retail center at 471 East Main St. The property is anchored by Tractor Supply Co., Peebles and Family Dollar. The new owner plans to renovate the building exterior and grounds and re-tenant the property. Larry Socia of The Sutton Cos. represented the buyer in the transaction. Dominic Pavia of Pavia Real Estate services represented the seller, Gouverneur Center Development LLC.

November 9, 2012

Multifamily Texas

BELL PARTNERS SELLS DALLAS APT. COMMUNITY

by admin November 9, 2012

DALLAS — Charlotte, N.C.-based Bell Partners has sold the 180-unit Bell Carlyle, an apartment community located in Dallas near Southern Methodist University. Lincoln Property Co. purchased the community, which includes a pool pavilion with a sundeck, private cabanas, a 24/7 fitness center and a clubhouse.

November 9, 2012

Mixed-Use Texas

LINSALATA BROKERS SHOPPING CENTER SALE

by admin November 9, 2012

BULVERDE — Linsalata Realty Services has arranged the sale of Hill Country Square, a 7,346-square-foot retail/office center located at 28150 N. U.S. Highway in Bulverde, just north of San Antonio. The center is 87 percent occupied. Joe Linsalata of Linsalata Realty Services represented the seller in the transaction. The buyer, San Antonio-based T-N-T Interests LLC, was self-represented.

November 9, 2012

Hospitality Texas

M&M SECURES SALE OF WINNIE HOTEL

by admin November 9, 2012

WINNIE — Marcus & Millichap has arranged the sale of the 65-room Econo Lodge Winnie/Beaumont, a hotel located at 46318 Interstate 10 E. in Winnie. The hotel's list price was $1.7 million. Michael Yu, Rahul Bijlani and Eric Guerrero of Marcus & Millichap represented the seller and buyer, both private investors, in the transaction.

November 9, 2012

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