Property Type

IDI TO DEVELOP 494,608 SF FACILITY AT AMERIPLEX BUSINESS PARK

by admin May 17, 2012

INDIANAPOLIS — IDI plans to develop a 794,608-square-foot industrial building at AmeriPlex Business Park, adjacent to the Indianapolis International Airport. The construction, which will begin in two weeks, will mark the first new distribution center in the greater Indianapolis market since 2008. The IDI World Connect Building I will be located at 6161 Decatur Blvd. The facility will include skylights and 60-foot structural bays, and is expected to open this December. Cushman & Wakefield/Summit Realty Group and Develop Indy will work together to lease the property.

May 17, 2012

APARTMENT TO BREAK GROUND IN VILLAGE OF LISLE

by admin May 17, 2012

LISLE, ILL. — Opus Development Corp. will break ground on a new luxury apartment complex in Lisle this month named Arboretum Landmark. The four-story building will feature 310 units and 500 parking spaces. Amenities will include an outdoor heated swimming pool, communal gas grills, fitness center and a patio area. The project is slated for occupancy in September 2013. Opus Design Build will serve as the general contractor for the project.

May 17, 2012

Midwest Seniors Housing

SKILLED NURSING CENTER SECURES $5M REFINANCING LOAN

by admin May 17, 2012

MINSTER, OHIO — Love Funding has arranged a $5 million loan to refinance Heritage Manor Skilled Nursing and Rehabilitation Center in Minster. Robert Smallwood of Love Funding secured the 33-year loan through the U.S. Department of Housing and Urban Development's 232/223(f) loan program. The property, built in 1977, is operated by a subsidiary of Vrable Healthcare Inc. and includes 61 units.

May 17, 2012

Healthcare Northeast

RIVER DRIVE COMPLETES NEW JERSEY MEDICAL FACILITY

by admin May 17, 2012

LAKEWOOD, N.J. — River Drive Construction has completed a $3.6 million project for the Ocean Health Initiatives (OHI) Lakewood Health Center in Lakewood, a health facility providing care for people who are uninsured or underinsured. The company constructed a two-story, 16,000-square-foot facility at 101 Second St., which was built on top of the existing 9,000-square-foot OHI building. The new facility houses the obstetrics/gynecology and pediatrics wings that include 20 examination rooms and an administrative area.

May 17, 2012

Northeast Office

ALLERGEN OPENS NEW OFFICE IN BRIDGEWATER

by admin May 17, 2012

BRIDGEWATER, N.J. — Health care company Allergen Inc. has inked a 93,000-square-foot lease at Somerset Corporate Center II in Bridgewater. The 250,000-square-foot building is in close proximity to Newark International Airport and New York City. Additional tenants include Juniper Networks and Aon Consulting. Kurt Burdack, Carolyn Sica and Chip Wright of CBRE represented Allergen in the transaction. SPJ was represented in-house.

May 17, 2012

Multifamily Northeast

MARCUS & MILLICHAP ARRANGES $7.3M REFINANCING LOAN FOR AFFORDABLE HOUSING

by admin May 17, 2012

NEW YORK CITY — Marcus & Millichap Capital Corp. has arranged a $7.3 million loan to refinance a 52-unit affordable housing project in Brooklyn. The mid-rise apartment building was built in 1998. Anita Pins and Gerald Kray of the firm's Manhattan office arranged the 10-year loan, which has a 30-year amortization schedule. The 5-year fixed-rate loan carries a 3.3 percent interest rate.

May 17, 2012

Northeast Office

COLUMBIA GAS MOVES OFFICES IN WESTBOROUGH

by admin May 17, 2012

WESTBOROUGH, MASS. — Columbia Gas, an energy services company serving nearly 300,000 natural gas customers in Massachusetts, has signed a lease for 25,837-square-foot lease at 4 Technology Dr. in Westborough. The company will relocate from 300 Fridberg Pky. this July. John Carroll III, William Lynch, Timothy O'Brien and Wayne Spiegel of Colliers International represented the landlord, 4 & 8 Technology Drive, in the transaction. CBRE Group represented Columbia Gas.

May 17, 2012

Multifamily Texas

MIG REAL ESTATE PURCHASES HOUSTON APTS.

by admin May 17, 2012

HOUSTON — MIG Real Estate has acquired the 372-unit Wynhaven at Willowbrook, a 436,914-square-foot multifamily property located at 9611 Grant Road in Houston. The property is 96 percent occupied and features walk-in closets, personal laundry rooms, dining room bay windows and a ceramic tile tub. Amenities for the property include a resort-style swimming pool, sun deck, WiFi, covered parking and picnic areas. MIG Real Estate was self-represented in the transaction, and Alliance Residential Co. will manage the property.

May 17, 2012

Multifamily Texas

AUTUMN BROOK IN SAN ANTONIO SELLS

by admin May 17, 2012

SAN ANTONIO — Hendricks & Partners has brokered the sale of the 124-unit Autumn Brook, a multifamily property located at 11726 W. Ave. in San Antonio. Mike Miller, Chris Ross and Will Caruth of Hendricks & Partners' San Antonio office represented the seller, an Austin-based investor, in the transaction. The buyer was an out-of-state investor.

May 17, 2012

Hospitality Texas

M&M BROKERS QUALITY INN SALE

by admin May 17, 2012

PECOS — Marcus & Millichap has arranged the sale of a 97-room Quality Inn, located at 4002 S. Cedar St. in Pecos. Allan Miller of Marcus & Millichap's Austin office, along with Chris Gomes of the firm's Dallas office, represented the seller, a California-based private investor, in the transaction. Gomes procured the buyer, a Dallas-based private investment fund.

May 17, 2012

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