Retail

CBRE | The Boulos Company Arranges Two Transactions in Maine

by Amy Works October 7, 2015

PORTLAND AND AUBURN, MAINE — CBRE | The Boulos Company has arranged two transactions in Maine. In the first transaction, Wayne Enterprises LLC has acquired a retail and office investment property at 622-624 Congress St. in Portland. The 21,112-square-foot property is currently occupied by United States Postal Service and Mercy Hospital. The seller was Stone Coast Properties LLC. Joe Porta of CBRE | The Boulos Company arranged the transaction. In the second transaction, CEVA Logistics signed a lease for 47,000 square feet of industrial space at 55 Logistics Dr. in Auburn from Gendron & Gendron Inc. Craig Young and Chris Paszyc of CBRE | The Boulos Company arranged the transaction. The sales prices of the transactions were not released.

October 7, 2015

Florida Retail Southeast

HFF Brokers $21.1M Sale of Shopping Center in Orlando

by John Nelson October 7, 2015

ORLANDO, FLA. — HFF has arranged the $21.1 million sale of Southchase Village, a 229,410-square-foot, grocery-anchored shopping center located at 12381 S. Orange Blossom Trail in Orlando. The center’s tenant roster includes Aldi, Bealls Outlet, Ross Dress for Less, Fallas Paredes, Planet Fitness, Tuesday Morning and a seven-screen Touchstar Cinemas. Brad Peterson and Whitaker Leonhardt of HFF represented the seller, Equus Capital Partners Ltd., in the transaction. Viking Partners LLC purchased the property from Equus free and clear of existing debt.

October 7, 2015

Arizona Retail Western

Marcus & Millichap Arranges $5.4M Sale of Walgreens Net-Leased Property

by Nellie Day October 6, 2015

MARANA, ARIZ. — Marcus & Millichap has arranged the $5.4 million sale of a 14,820-square-foot net-leased Walgreens property located in Marana. Jamie Medress and Mark Ruble of Marcus & Millichap worked on behalf of the seller, a developer, and Ryan Shook and Evan Barry of Marcus & Millichap worked on behalf of the buyer, a limited liability company, in the transaction.

October 6, 2015

New Jersey Northeast Retail

Weiss Realty Co. Secures Long-Term Lease for CVS/pharmacy in Berkeley Heights, N.J.

by Amy Works October 6, 2015

BERKELEY HEIGHTS, N.J. — Weiss Realty Co. has arranged a long-term, 25-year ground lease for CVS/pharmacy at Berkeley Heights Shopping Center in Berkeley Heights. Located at 400 Springfield Ave., the new 13,000-square-foot property features a drive-thru pharmacy and is situated on 1.2 acres at the entrance to the 62,000-square-foot shopping center. Weiss Realty Co. represented the developer, First Hartford Realty Corp. and the landlord, Berkeley Development Co., in the lease transaction.

October 6, 2015

Loans Multifamily Retail Texas

BMC Capital Arranges Trio of Loans in Metro Dallas

by Haisten Willis October 6, 2015

GRANBURY AND PLANO, TEXAS — BMC Capital’s Dallas office has arranged a trio of loans in the metro Dallas cities of Granbury and Plano. Brian Gramlich of BMC arranged all three transactions, and all were arranged through one of BMC Capital’s correspondent banking relationships. In the first transaction, BMC arranged a $662,500 purchase loan for an apartment property located in Granbury. The loan featured a five-year fixed term with a 4.5 percent fixed interest rate and a 30-year amortization schedule. In the second transaction, BMC arranged a $6.1 million purchase loan for an apartment property in Plano. The loan featured a six-year fixed term with a fixed 4 percent interest rate and a 30-year amortization schedule. In the third transaction, BMC arranged a $1.9 million purchase loan for a Sherwin Williams multi-tenant property in Plano. The loan featured a five-year fixed term with a fixed 4 percent interest rate and a 25-year amortization schedule.

October 6, 2015

Michigan Midwest Retail

NAI Wisinski of West Michigan Arranges 7,784 SF Flex Lease in Portage, Mich.

by Christina Cannon October 6, 2015

PORTAGE, MICH. — NAI Wisinski of West Michigan has arranged a 7,784-square-foot retail lease at a property located at 832 Lenox Ave. in Portage, approximately seven miles south of Kalamazoo. ServePro of East and West Kalamazoo is the tenant. Stancati & Lambright LLC is the landlord. The flex space, which is under renovation, is slated to open Dec. 1. ServePro is a nationwide fire and water cleanup and restoration business. Marc Tourangeau of NAI Wisinski represented the tenant and the landlord in the transaction.

October 6, 2015

Loans Mixed-Use Multifamily New York Northeast Retail

Meridian Capital Arranges $4M in Financing for Mixed-Use Property in Hell’s Kitchen

by Amy Works October 5, 2015

NEW YORK CITY — Meridian Capital Group has arranged $4 million in financing for a mixed-use property in the Hell’s Kitchen neighborhood of Manhattan. Provided by JPMorgan Chase, the seven-year loan features a fixed-rate of 3.8 percent. Located at 755 Ninth Ave., the five-story property features 20 apartments and 2,000 square feet of retail space. Brian Flax and Blake Orman of Meridian’s New York City headquarters office negotiated the financing for the undisclosed borrower.

October 5, 2015

Town Center at Atlantic Station Midtown Atlanta

Georgia Retail Southeast

North American Properties, CBRE Global Investors Sell Town Center at Atlantic Station

by John Nelson October 5, 2015

ATLANTA — North American Properties (NAP) and CBRE Global Investors have sold Town Center at Atlantic Station in Midtown Atlanta to an institutional investor advised by Hines. The Houston-based real estate firm will serve as asset and property manager of the 586,000-square-foot retail center that anchors Atlantic Station, a mixed-use development comprising retail space, restaurants, entertainment venues, three office towers, a hotel and a freestanding Ikea, Target and Dillard’s. The development also houses events such as Cirque du Soleil and Bodies: The Exhibition. The sales price was undisclosed but media outlets value the sale at roughly $200 million. NAP and CBRE Global Investors purchased the retail center, some office space and land for future development in 2010 for $173 million. According to media outlets, the buyer advised by Hines is an investment fund with ties to Morgan Stanley.

October 5, 2015

Retail Texas

Axis Realty Group Arranges Sale of Retail Center in Metro Dallas

by Haisten Willis October 2, 2015

PILOT POINT, TEXAS — Alex Payne of Denton, Texas-based Axis Realty Group has arranged the sale of Northstar Center, a 42,040-square-foot, grocery-anchored retail center in Pilot Point. Payne represented the unnamed seller in the transaction. PD Capital, a Dallas-based retail investment group, was the buyer. Tenants at the property include Brookshire Brothers, Anytime Fitness, Pizza Hut and Golden Chick. Located at 750 US-377, Northstar Center was built in 2006 and the Brookshire Brothers space was completely renovated earlier this year.

October 2, 2015

Multifamily Retail Texas

Corazon Development in Austin Earns LEED Gold Certification

by Haisten Willis October 2, 2015

AUSTIN, TEXAS — The U.S. Green Building Council (USGBC) has awarded LEED Gold certification to East Austin’s Corazon apartment and retail development. Developed by Austin-based Argyle Residential, the project utilizes high-efficiency heating and cooling systems, and each unit features energy-efficient lighting, appliances and hot water heaters. The project also used recycled materials during the construction process, and took steps to minimize construction waste. The LEED scoring system also recognized the walkability and public transit access provided by Corazon’s central location, the project’s drought-tolerant landscaping and its use of materials and finishes that promote a healthy indoor environment.

October 2, 2015

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