Property Type

HUNTERSVILLE INDUSTRIAL PROPERTY SELLS FOR $22M

by admin October 27, 2011

HUNTERSVILLE, N.C. — A 559,750-square-foot industrial facility, located at 12801 Jamesburg Dr. in Huntersville, has sold for $22 million. An affiliate of AREA Property Partners purchased the property from an undisclosed seller, represented by David Allen and Dunn Mileham of Trinity Partners. National credit tenants Aaron's, Inc. and Pactiv Corp. fill the 89 percent occupied building, which was originally built to serve as the distribution facility for Philip Morris' Cabarrus manufacturing facility.

October 27, 2011

M&M ARRANGES $10.2M SALE OF ALLEGRO PALM CONDOS

by admin October 27, 2011

RIVERVIEW, FLA. — Marcus & Millichap has brokered the $10.2 million sale of the 432-unit Allegro Palm, a condominium community located at 5501 Legacy Crescent Pl. in Riverview. Still Hunter, III, and Evan Kristol of Marcus & Millichap's Fort Lauderdale, Fla., office represented the seller, a South American investment group, in the transaction and procured the buyer, Legacy Crescent.

October 27, 2011

Industrial Southeast

TREMBLAY PROPERTIES BUYS WAREHOUSE FOR $3M

by admin October 27, 2011

CORAL SPRINGS, FLA. — Tremblay Properties has purchased a 46,752-square-foot warehouse, located at 4150 N.W. 120th Ave. in Coral Springs, from Commerce Center of Coral Springs for $3 million. Les Byron of Sperry Van Ness' Fort Lauderdale, Fla., office represented the buyer in the transaction, and Tim Cross of Coral Springs-based Syndicon Realty represented the seller.

October 27, 2011

Retail Southeast

CBRE BROKERS $2.9M RETAIL SALE

by admin October 27, 2011

ST. PETERSBURG, FLA. — CBRE has arranged the $2.9 million sale of the 67,050-square-foot Town Plaza, a shopping center located at 1846 62nd Ave. N. in St. Petersburg. Mark Shellabarger of CBRE's Tampa, Fla., office represented the undisclosed seller in the transaction. The buyer, a locally-based private investor, plans to renovate the center.

October 27, 2011

Midwest Multifamily

BEECH STREET PROVIDES $12.9M TO REFINANCE FOUR CHICAGO PROPERTIES

by admin October 27, 2011

CHICAGO — Beech Street Capital LLC has provided $12.9 million in Fannie Mae loans to refinance four properties located within the Rogers Park and Lakeview neighborhoods of Chicago. The transaction was originated by Gershon Friedman of Meridian Capital Group LLC, and was financed by Beech Street Capital. The 10-year-loan has a 30-year amortization schedule. Totaling 230 multifamily units and one commercial space, the portfolio consists of low-rise, brick buildings constructed in the mid-1920s.

October 27, 2011

Midwest Office

UNION SUPPLY SIGNS LEASE FOR 315,534 SQUARE FEET AT OPUS BUSINESS CENTER

by admin October 27, 2011

GROVEPORT, OHIO — Rancho Dominguez, Calif.-based Union Supply Co. has signed a long-term lease agreement for 315,534 square feet in building seven at Opus Business Center in Groveport, Ohio. Rick Trott, Mike Hurd and Kevin McGrath of Cassidy Turley represented the building owner, Opus Development Corp., in the transaction. San Diego-based McKinney Brokerage Group represented Union Supply Co.

October 27, 2011

Northeast Retail

INVESCO BUYS $128M DOWNTOWN CROSSING BUILDING IN BOSTON

by admin October 27, 2011

BOSTON — Invesco Real Estate Advisors has purchased a $128 million retail asset at 350 Washington St. in Boston. Located in Boston's Downtown Crossing shopping district, the building tenants include TJ Maxx, Marshalls, H&M and Town Sports International. Chris Angelone, Bill Moylan, Jim Koury, Nat Heald and Josh Klimkiewicz of CBRE's Boston office represented the seller, Real Estate Capital Partners. They also procured the buyer.

October 27, 2011

Northeast Office

SILVERMAN GROUP BUYS 230,677-SQUARE-FOOT OFFICE PARK

by admin October 27, 2011

TRUMBULL, CONN. – Cushman & Wakefield has completed the sale of Trefoil Park, a five-building, 230,677-square-foot office park in Trumbull, Conn. The park is 92 percent leased and tenants include Office Depot and Sun Products. Thomas Leary, David Bernhaut and Grace Braverman of Cushman & Wakefield represented the seller, Boston-based New Boston Fund Inc. They also represented the buyer, The Silverman Group.

October 27, 2011

Industrial Northeast

EAGLE BRIDGE ARRANGES $2.7M IN FINANCING FOR WAREHOUSE

by admin October 27, 2011

CANTON, MASS. — Boston-based Eagle Bridge Capital has arranged $2.7 million in permanent mortgage financing for 115 Shawn Rd. in Canton, Mass. Located in Shawmut Industrial Park, the building is a 55,000-square-foot multi-tenant warehouse/distribution building. The property is fully leased to Analog Devices, Delta Beckwith and Akers Industries. The mortgage financing was arranged for JPerll Associates by Ted Sidel and Brian Sheehan and was provided by a regional financial institution.

October 27, 2011

Multifamily Northeast

QUEENS APARTMENT BUILDING SELLS FOR $1.7 MILLLION

by admin October 27, 2011

QUEENS, N.Y. — Marcus & Millichap Real Estate Investment Services has arranged the $1.7 million sale of a six-unit apartment building, located at 3080 37th St. in Queens, N.Y. Matthew Fotis and Lazarus Apostolidis of Marcus & Millichap's Manhattan office, represented the seller, a private investor. They also represented the buyer, who was undisclosed.

October 27, 2011

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