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NEWCASTLE LIMITED TAKES RETAIL CENTER IN CHICAGO

by admin January 19, 2011

CHICAGO — Locally owned Newcastle Limited has purchased a 14,800-square-foot retail center in the Bucktown retail corridor of Chicago. Located at 2500 W. North Ave., the property sold for $4.65 million. The single-story property is currently 100 percent leased to tenants, including O'Reilly Auto Parts, Charter One Bank, H&R Block, GameStop, Subway and Acceptance Insurance. Additionally, the property offers 30 parking spaces and easy access to public transportation. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the buyer and undisclosed seller in the transaction.

January 19, 2011

NEWCASTLE LIMITED BUYS MIXED-USE PROPERTY IN CHICAGO

by admin December 7, 2010

CHICAGO — Chicago-based Newcastle Limited has acquired a mixed-use property, which is located at 2525 N. Clark in Chicago's Lincoln Park neighborhood, for $3 million. The property consists of 4,300 square feet of retail space and 12 apartment units. Current retail tenants include Starbucks Coffee, Austrian Bakery and Sultan's Market. Kyle Stengle and Steve Rachman of Marcus & Millichap represented the undisclosed seller in the transaction.

December 7, 2010

Multifamily Northeast

ARBOR ARRANGES $83.1 MILLION REFI OF SAN CASTLE APARTMENTS

by admin October 4, 2010

NEW YORK CITY — Arbor Commercial Funding has arranged $83.1 million in Fannie Mae funds for the refinancing of Sand Castle Apartments in the Rockaway neighborhood of Queens. The 917-unit property has historically maintained 100 percent occupancy and units that are being continually renovated. The loan, which was originated by John Kelly of Arbor's Boston office, ccarries a 7-year term, a 30-year amortization schedule, an 80 percent loan-to-value ratio and a 1.2 debt service-coverage ratio. The borrower's name was not released.

October 4, 2010

Multifamily Northeast

CONSTRUCTION COMPLETE FOR CASTLE GARDENS

by admin August 6, 2010

NEW YORK CITY — Construction is complete for Castle Gardens, a new affordable housing project in Harlem. The building contains 114 residential units, including 50 supportive studio apartments and 13 units set aside for formerly homeless people and those recently released from incarceration. The building is located at 625 W. 140th St., adjacent to the non-profit Fortune Academy, which provides transitional housing for formerly incarcerated homeless people. The Fortune Society co-developed the project with Jonathan Rose Cos. as a way to provide permanent housing to complement its transitional housing. Castle Gardens is applying for LEED-Gold certification. Its sustainable features include a green roof with a rainwater harvesting system, aluminum solar shades on the south façade and VOC-free interior materials. The general contractor for the project was Lettire Construction Corp.

August 6, 2010

Midwest Office

AURORA BANK RELOCATES TO 33,000 SQUARE FEET IN CASTLETON PARK, IND.

by admin December 3, 2009

CASTLETON PARK, IND. — Colorado-based Aurora Bank has relocated its Indianapolis call center to 33,000 square feet of space at 5920 Castleway W. Dr. in Castleton Park. The bank previously occupied 25,000 square feet at Heritage Park II in Indianapolis. Jones Lang LaSalle’s Dan O’Neil, John Robinson and Julie Kilpatrick provided occupancy planning, tenant representation and construction management services for the bank. Dave Moore of Colliers Turley Martin Tucker represented the ownership, BREOF Castleton Park LLC, in the transaction. Additional terms of the lease were not released.

December 3, 2009

NEWCASTLE ACQUIRES CVS PORTFOLIO FOR $30 MILLION

by admin October 16, 2009

PARK RIDGE, ILL. — Park Ridge-based Newcastle Properties has acquired a portfolio of CVS/pharmacy stores for approximately $30 million. The portfolio contains nine stores located in six states. They include: 542 Providence Rd. in Brooklyn, Conn.; 6202 Commerce Palms St. in Tampa, Fla.; 301 S. Sixth Ave. in Wauchula, Fla.; 4700 Piedmont Pkwy. in Greensboro, N.C.; 2902 Forestville Rd. in Raleigh, N.C.; 4 Hall St. in Concord, N.H.; 885 Central Ave. in Albany, N.Y.; 1571 Forest Ave. in Staten Island, N.Y.; and 1402 E. Lake Mead Pkwy. in Henderson Nev. The stores in the portfolio range in size from 12,900 to 13,225 square feet, and all of them are located on sites ranging from 1.21 to 2.98 acres. All are subject to 25-year, triple-net lease agreements. Newcastle acquired the portfolio on behalf of SVC Equity Partners LLC, one of its investment affiliates. Representation for Newcastle was provided by Jeffrey Gurian of Highland Park, Ill.-based Becker & Gurian. The seller was not disclosed. Newcastle's affiliates now own and operate approximately 3 million square feet of commercial real estate in 20 states. — Coleman Wood

October 16, 2009

Midwest Retail

NEWCASTLE ACQUIRES $10 MILLION RETAIL PROPERTY

by admin April 3, 2008

CHICAGO — Newcastle has acquired a 17,514-square-foot retail building, which is located at 801 West Diversey in Chicago’s Lincoln Park neighborhood, for $10 million. The single-story structure is 81 percent leased to a tenant roster that includes Dunkin Donuts, Back to Bed and Performance Bicycle Shop. It also includes 32 parking spaces. David Stone of Stone Real Estate represented Newcastle, as well as the undisclosed seller.

April 3, 2008

Industrial Midwest

CASTLE COCH DEVELOPMENT TO BREAK GROUND FOR 150,000-SQUARE-FOOT INDUSTRIAL

by admin March 28, 2008

LAFAYETTE, IND. — Castle Coch Development is set to break ground for the construction of a 150,000-square-foot industrial building located at 3701 Dave Howarth Dr. in the Park 350 industrial park in Lafayette. The building, which can be subdivided for up to four tenants, features 28-foot clear ceiling heights, dock-height, flow-thru loading, trailer and car parking spaces, an ESFR sprinkler system and office areas. The approximately $15 million project is also expandable up to 300,000 square feet. The project is being developed by Castle Coch, with JRA Architecture providing design services and Shiel Sexton Co. serving as general contractor. Completion is scheduled for October.

March 28, 2008

Civic Midwest

NEWCASTLE BROKERS $40 MILLION SALE FOR LOYOLA UNIVERSITY EXPANSION

by admin March 27, 2008

CHICAGO — Chicago-based Newcastle has brokered the sale of a surface parking lot owned by the YMCA of Metropolitan Chicago, as well as an adjacent four-story retail apartment building located at the corner of Chicago Avenue and State Street in Chicago, for $40 million. The building was sold by a third party and contains a retail component. The properties were acquired by Loyola University, which plans to use the combined 61,470-square-foot site for future expansion. Newcastle represented all parties in the transaction.

March 27, 2008

Midwest Multifamily

NEWCASTLE BROKERS $40 MILLION SALE FOR LOYOLA UNIVERSITY EXPANSION

by admin March 27, 2008

March 27, 2008

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