Property Type

INFINEON BREAK GROUND ON NEW FACILITY IN MICHIGAN

by admin May 21, 2012

LIVONIA, MICH. — Infineon Technologies, a semiconductor supplier for the automotive industry, has broken ground on a 46,000-square-foot facility in Livonia. Northern Equities of Farmington Hills is constructing the facility on a four-acre site at 19401 Victor Pkwy. The building will include an expanded testing lab, additional engineering facilities and added office space, compared to the company's current offices at 19111 Victor Pkwy. The space will allow Infineon to grow its staff by 50 percent from its current size of 90 employees in Livonia. Infineon plans to occupy the new facility in the winter of 2013.

May 21, 2012

UNIVERSITY OF DAYTON INKS LEASE IN DUBLIN

by admin May 21, 2012

DUBLIN, OHIO — The University of Dayton has signed a 15,118-square-foot office lease at 5747 Perimeter Dr. in Dublin. Jeff Carey of Cassidy Turley represented the tenant in the transaction. American National Insurance Co. is the landlord.

May 21, 2012

Midwest Retail

FAMILY TRUST ACQUIRES GOODWILL PROPERTY IN DANVILLE

by admin May 21, 2012

DANVILLE, ILL. — The Silver Group has arranged the $1.8 million sale of a Goodwill retail store in Danville. The 15,000-square-foot building was originally developed and occupied by Osco Drugs until the company was acquired by CVS/pharmacy. A developer working with Goodwill acquired the building and retrofitted it for Goodwill Industries. Barry Silver of The Silver Group represented the seller in the transaction. The buyer was a Canadian family trust.

May 21, 2012

Midwest Multifamily

PRIME PROPERTY INVESTORS TO SELL 13-BUILDING APARTMENT COMMUNITY

by admin May 21, 2012

LAKE BLUFF, ILL. — Deer Valley Luxury Apartment Homes, a 224-unit apartment community in Lake Bluff, is for sale. Prime Property Investors acquired Deer Valley in 2011 and extensively rehabbed the property. Lake Forest, Ill.-based Residential Homes of America developed Deer Valley in 1991. The property comprises 13 buildings and 297 parking spaces. Amenities include a fitness center, outdoor pool and a 2,500-square-foot clubhouse. Deer Valley is located at 30011 N. Waukegan Rd.

May 21, 2012

Mixed-Use Northeast

MIXED-USE BUILDING CHANGES HANDS FOR $40.1M IN BOSTON

by admin May 21, 2012

BOSTON — L&B Realty Advisors has purchased 625 Massachusetts Ave., a mixed-use property in the Cambridge submarket of Boston, for $40.1 million. Built in 1929, the office and retail building underwent a complete renovation in 2000. The 122,104-square-foot property is located across the street from the Massachusetts Bay Transportation Authority's red line. The building is fully leased to tenants such as TD Bank and Walgreens. Scott Jamieson, John Osten and Peter Bekarian represented the seller, Samuels Property Group, in the transaction.

May 21, 2012

Multifamily Northeast

BEECH STREET ARRANGES $68M TO REFINANCE PENNSYLVANIA, DELAWARE PORTFOLIO

by admin May 21, 2012

BESTHEDA, MD. — Bethesda-based Beech Street Capital has arranged $68 million in Fannie Mae loans to refinance four apartment properties in Pennsylvania and Delaware. Brian Sykes of Beech Street Capital originated the fixed-rate, 10-year loans on behalf of the borrower, the Galman Group. The portfolio consists of 1,106 units located in the Philadelphia-Camden-Willington MSA. The 101-unit North Lane is located in Conshohocken, Pa.; Sedgwick Station, with 93 units, is in Philadelphia; Buckingham Place, with 278 units, is in Newark, Del.; and the 624-unit Castlebrook is in New Castle, Del.

May 21, 2012

Northeast Retail

FORMER JIMMY'S UPTOWN RESTAURANT IN MANHATTAN SELLS TO NOT-FOR-PROFIT GROUP

by admin May 21, 2012

NEW YORK CITY — An 11,700-square-foot retail property at 2207 Adam Clayton Power Jr. Blvd. in Manhattan has sold for $3.1 million. The property includes one commercial unit, which was previously occupied by the nightclub Zipcode. Prior to that, the building was the site of Jimmy's Uptown restaurant. Currently vacant, the building has sold to a religious not-for-profit group that plans to hold services and community events in the space. Brian Leary, Duke McCabe and Tim Conan of CPEX represented the sellers in the transaction. Jennifer Polovetsky represented the buyers.

May 21, 2012

Healthcare Northeast

HOK TO DESIGN UNIVERSITY OF BUFFALO MEDICAL SCHOOL

by admin May 21, 2012

BUFFALO, N.Y. — HOK has been selected to design the $375 million School of Medicine and Biomedical Sciences at the University of Buffalo (UB). Construction is slated to begin in 2013 and wrap up in 2016. UB has wanted to relocate its medical school from the South campus to the Buffalo Niagra campus for years as part of its long-range UB 2020 growth plan. The new facility will be situated in downtown Buffalo and is expected to bring 1,200 students, faculty and staff to campus. The project is partially funded by NYSUNY 2020 legislation.

May 21, 2012

Northeast Retail

FIVE NEW TENANTS JOIN CHESTNUT HILL SHOPPING CENTER

by admin May 21, 2012

CHESTNUT HILL, MASS. — Chestnut Hill Shopping Center has landed five retail tenants for a new 115,000-square-foot building where a recently demolished Macy's once stood. National Amusements will lease 40,000 square feet for a six-screen Cinema de Lux movie theater, which is slated to open in 2013. The Sports Club/LA will open a 33,000-square-foot fitness club in January 2013. Additional tenants will include Shake Shack, Pinkberry Frozen Yogurt and Bernard's. The new building is part of a larger redevelopment at Chestnut Hill, which will expand by 406,000 square feet. The Torrey Co. is constructing the redevelopment on behalf of WS Development.

May 21, 2012

Industrial Texas

DCT INDUSTRIAL ACQUIRES TWO INDUSTRIAL PROPERTIES

by admin May 21, 2012

HOUSTON — DCT Industrial Trust has acquired the 98,000-square-foot DCT Claymoore Center, two Class A industrial properties located in Houston's Northwest submarket, in an off-market transaction. The properties are 95.8 percent leased, and this acquisition brings DCT Industrial's Houston portfolio to 3.5 million square feet.

May 21, 2012

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