Property Type

RAIA BUYS ONE NORMAN SQUARE APTS. FOR $15M

by admin March 6, 2012

CORNELIUS, N.C. — Ramsey, N.J.-based The Raia Properties has acquired the 192-unit One Norman Square, an apartment complex located at 19532 One Norman Blvd. in Cornelius, from Nashville, Tenn.-based Carter-Haston Real Estate Services for $15 million. The property, which is 95 percent leased, includes amenities such as a resort-style salt water pool, tennis courts, a 24-hour fitness center, car care center, business center, walking trails and gated, on-site boat parking. Blake Oakland and Dean Smith of ARA's Charlotte, N.C., office represented the seller in the transaction. The acquisition was financed through ARA's debt platform, ARA Finance, and was funded by Fannie Mae.

March 6, 2012

INDUSTRIAL PROPERTY SELLS FOR $2.15M

by admin March 6, 2012

RICHMOND, VA. — HMU Terminal Road has purchased a 126,639-square-foot industrial property, located at 2823 Bells Rd. in Richmond, from Richmond Industrial LLC for $2.15 million. Richard Porter of Richmond-based Porter Realty Co. represented the buyer in the transaction. Scott Douglas and Evan Magrill of Cushman & Wakefield/Thalhimer's Richmond office represented the seller.

March 6, 2012

Office Southeast

WALKER & DUNLOP SECURES $5M OFFICE LOAN

by admin March 6, 2012

WASHINGTON, D.C. — Walker & Dunlop has arranged $5 million in refinancing for the 11,813-square-foot 300 Independence Avenue, a Class A office building located in Washington, D.C. Sanor Biderman of Walker & Dunlop's Bethesda, Md., office arranged the 20-year loan with a 25-year amortization schedule on behalf of the borrower, 300 Independence Avenue LLC.

March 6, 2012

Retail Southeast

VARIETY WHOLESALERS SIGNS 58,000 SF LEASE

by admin March 6, 2012

NEW BERN, N.C. — Henderson, N.C.-based Variety Wholesalers has signed a 58,000-square-foot lease at the 140,000-square-foot Furniture Fair Shopping Center, located at 2800 Neuse Blvd. in New Bern. The company plans to open a Rose's Discount Store at the property this summer. Walt Crayton of New Bern-based Crayton Commercial, along with Fred Morton of New Bern-based Morton Cos., represented the landlord, Jacksonville, N.C.-based Boomtown Furniture.

March 6, 2012

Midwest Multifamily

NORTHMARQ ARRANGES $22.9M IN COMBINED MORTGAGES FOR APARTMENT PROPERTIES

by admin March 6, 2012

KANSAS CITY, KAN. — David Farrell of NorthMarq Capital's Kansas City office has arranged $22.9 million in first-mortgage financing for three multifamily properties in Kansas, Ohio and Tennessee. The properties contain a total of 491 units. Pinnacle Woods Apartments, located at 5000 Clinton Parkway in Lawrence, Kan., contains 208 units and received financing totaling $10.4 million. Village West Apartments, located at 884 Thurber Dr. West in Columbus, Ohio, contains 115 units and received $6.6 million in refinancing proceeds. Walker Springs Apartments, located at 721 Walker Springs in Knoxville, Tenn., contains 168 units and was refinanced at $5.8 million. Each of the loans is for 10 years with a 30-year amortization schedule. Freddie Mac provided the loans.

March 6, 2012

Civic Midwest

BLOCK SELLS FORMER KANSAS CITY SCHOOL BUILDINGS

by admin March 6, 2012

KANSAS CITY, MO. — Kansas City-based Block Real Estate Services is selling former school buildings on behalf of Kansas City Public Schools. Block has received offers for the surplus space and completed the marketing process of several of these properties including Askew, Bingham, Blenheim, Bryant and Swinney schools. McCoy Elementary remains available as there were no qualified offers received in the first round. Block is working through a second round of properties offered by Kansas City Public Schools. These properties include the former Dunbar Elementary, Moore Elementary, Northeast Middle School, Thatcher Elementary, Westport High School and Westport Middle School.

March 6, 2012

Midwest Retail

FAMILY DOLLAR SIGNS NEW LEASE IN WISCONSIN

by admin March 6, 2012

FOND DU LAC, WIS. — Family Dollar, a discount retailer, has leased 8,400 square feet at 528 W. Johnson St. in Fond du Lac. Brian Gingrass and Jon Thoresen of the Milwaukee office of Commercial Property Associates represented the landlord, Kin Properties, in the transaction.

March 6, 2012

Mixed-Use Northeast

SKANSKA, TWINING TO DEVELOP 300 APARTMENTS IN SEAPORT SQUARE

by admin March 6, 2012

BOSTON — Skanska USA Commercial Development and Twining Properties have purchased a 1-acre parcel for a reported $18.6 million. The companies plan to develop Watermark Seaport, a planned residential tower with more than 300 apartments and 25,000 square feet of retail space. The project will be located on the southeast corner of Seaport Boulevard and Boston Wharf Square. The development will be contained within the 25-acre Seaport Square, which calls for 6.3 million square feet of residential, office, retail, hotel and civic space upon completion. Cushman & Wakefield Sonnenblick Goldman served as an advisor to Twining in the transaction. MS Boston Seaport was the seller.

March 6, 2012

Civic Northeast

EWINGCOLE COMPLETES SECOND PHASE OF $98M U.S. MILITARY ACADEMY PROJECT

by admin March 6, 2012

WEST POINT, N.Y. — EwingCole has completed the second phase of a $98 million campus development project for the U.S. Military Academy Preparatory School. The school has relocated from Fort Monmouth, N.J. to the grounds of the U.S. Military Academy at West Point. The first phase was completed last summer, and the second phase was completed in January. The campus includes 73,000 square feet of classrooms and administrative buildings, a 246-bed student quarters and three athletic fields. The final phase of the project, which includes an athletic building, will be completed this spring.

March 6, 2012

Northeast Retail

JMC HOLDINGS BUYS RETAIL SPACE IN NYC FOR $30.6M

by admin March 6, 2012

NEW YORK CITY — JMC Holdings purchased retail space at 156-168 Bleecker St. in Greenwich Village for $30.6 million, with plans to upgrade the retail and take advantage of New York University's expansion plans less than one block away. JMC acquired the 27,000-square-foot building in a joint venture partnership with RWN Real Estate Partners, a New York-based real estate private equity fund. Sovereign Bank financed part of the acquisition with an $18.5 million first-mortgage loan. The property is fully leased to seven tenants, including CVS Pharmacy, Chase Bank and nightclub Le Poisson Rouge. The new owners are planning a $1.8 million renovation to the site. Berko & Associates represented the seller, NTD Building LLC. JMC Holdings was self-represented.

March 6, 2012

Newer Posts

Older Posts

Upcoming Events

Sep
23