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Herald Examiner Building in LA to Undergo Redevelopment

by Nellie Day September 4, 2015

LOS ANGELES — The Herald Examiner Building in downtown Los Angeles will soon undergo redevelopment. to turn the historic space into a mix of creative office space, retail and restaurants. The Herald Examiner Building was originally constructed in 1914 between South Park and the Broadway Corridor. The two-story lobby will also undergo a restoration as part of the renovation. The Georgetown Company has partnered with the Hearst Corporation on this project. The Herald Examiner Building was initially designed by Julia Morgan, the same architect who designed Hearst Castle. Carl Muhlstein of Jones Lang LaSalle will lead the leasing efforts.

September 4, 2015

Indiana Industrial Midwest Office Retail

Bradley Co. Brokers Multiple Transactions in Indiana

by Amy Works September 2, 2015

FORT WAYNE, IND. — Bradley Co. has arranged two leases and one condominium sale across various property types in Fort Wayne. Kienan O’Rourke of Bradley Co. represented the tenant, Vintage Treasures LLC, in the lease of 21,600 square feet of retail space located at 265 Coliseum Blvd. In a separate transaction, O’Rourke represented the seller, B&R Real Estate, in the sale of a 2,077-square-foot office condo located at 515-519 Airport North Office Park in Fort Wayne to an undisclosed buyer. In a third transaction, O’Rourke represented the landlord, Kurt Mundinger, in the lease of 7,108 square feet of industrial space located at 224 E. Wallace St. to Three Rivers Distilling Co. Kelly Castle, also of Bradley Co., represented the tenant in the transaction. Terms and additional details of the transactions were not released.

September 2, 2015

Retail Washington Western

RPAI Acquires Coal Creek Marketplace for $17.6M

by Nellie Day August 31, 2015

NEWCASTLE, WASH. — RPAI has acquired Coal Creek Marketplace, a 56,000-square-foot grocery-anchored neighborhood center located in the Seattle suburb of Newcastle, for $17.6 million. The center is currently 95 percent occupied and anchored by Quality Food Centers, a subsidiary of Kroger. Shane Garrison and Michael Hazinski represented RPAI in-house in the off-market transaction.

August 31, 2015

Retail Washington Western

RPAI Acquires Coal Creek Marketplace Near Seattle for $17.6M

by Nellie Day August 28, 2015

NEWCASTLE, WASH. — RPAI has acquired Coal Creek Marketplace, a 56,000-square-foot, grocery-anchored retail center located in the Seattle suburb of Newcastle. The center is currently 95 percent occupied and anchored by Quality Food Centers, a subsidiary of Kroger. Shane Garrison and Michael Hazinski represented RPAI in-house in the off-market transaction.

August 28, 2015

California Retail Western

Eight Stores to Open at Danville Hotel Redevelopment

by Nellie Day August 26, 2015

DANVILLE, CALIF. —Eight stores are set to open at a mixed-use redevelopment of the historic Danville Hotel in downtown Danville, a project by joint developers Castle Cos. and Nearon Enterprises. Retail tenants will receive space in late August through September. New openings will include a 1,200-square-foot Papyrus; a 2,000-square-foot Heavenly Couture; a 1,100-square-foot Sole Desire Shoes; a 1,000-square-foot Look + See Luxury Optical; a 400-square-foot BoBen Designs jeweler; a 3,700-square-foot Danville Brewing Co.; a 2,800-square-foot Pizza Antica; and a 1,600-square-foot Basque Boulangerie Café. Adria Giacomelli and Gary Riele of Newmark Cornish & Carey led the leasing efforts.

August 26, 2015

Indiana Industrial Midwest Retail

Bradley Co. Negotiates Leases Totaling More than 15,000 SF in Fort Wayne

by Jeff Shaw August 11, 2015

FORT WAYNE, IND. — Bradley Co. has arranged two leases totaling more than 15,000 square feet in Fort Wayne. In the first transaction, Mike Dahm represented the landlord, Industrial Road Enterprises, as well as the tenant, HD Supply Waterworks, in the lease renewal of 13,480 square feet of industrial space located at 5120 Industrial Road. In the second transaction, Dahm and Kelly Castle represented the tenant, RPM Pizza Midwest LLC, in the lease of 2,130 square feet of retail space located at 301 W. Jefferson Blvd. Bradley Co. has served the Northern Indiana and West Michigan commercial real estate market since 1978.

August 11, 2015

Multifamily Seniors Housing Washington Western

Aegis Breaks Ground on Seniors Housing Community and Cultural Center

by Nellie Day August 3, 2015

NEWCASTLE, WASH. — Seniors housing developer Aegis Living has broken ground on Aegis Gardens in Newcastle near Seattle, marking the Pacific Northwest’s first senior living community for Chinese-Americans. Situated on a 7.5-acre waterfront site with access to Lake Boren, the resort-style, 110-home community is slated to open in 2017. When completed, Aegis Gardens’ activity center will host civic activities and cultural exhibitions. The center will also provide daycare services to promote multigenerational engagement. According to Nielson, 92,000 Chinese-Americans live within a 25-mile radius of the Newcastle location. Aegis Gardens’ community programming will include celebrations of Chinese holidays, traditional cuisine representing major regions of China, mahjong, calligraphy, cribbage, Tai Chi classes, a central Zen garden and a tearoom. Staff fluent in Cantonese, Mandarin and English will provide 24-hour care. The development site in Newcastle, a block from the Bellevue city line, is culturally relevant for Chinese-Americans because immigrants from China mined coal there in the late 1800s, contributing to Seattle’s rise to prominence.

August 3, 2015

Indiana Midwest Retail

Brennan Investment Group Acquires Hillsdale Business Park In Indianapolis

by Jonathan Mehall July 29, 2015

INDIANAPOLIS — Brennan Investment Group LLC has acquired Hillsdale Business Park, a six-building business park comprising 445,892 square feet, in Indianapolis. Hillsdale Business Park is located at 7700 North Shadeland Ave. on the northeast side of Indianapolis at the intersection of I-465 and I-69, two main interstates that serve the Indianapolis metro area. The business park is within minutes of a number of restaurants, banks, and Castleton Square Regional Mall. Tenants of Hillsdale feature Community Hospital, Verizon Wireless, State Farm Insurance, Ingersoll Rand, Northeast Family Physicians and Pro Kids Inc. Originally developed by Duke Realty, Hillsdale Business Park is owned by Hillsdale Property Company and is leased and managed by Jones Lang LaSalle.

July 29, 2015

California Multifamily Student Housing Western

EdR to Begin Construction of Housing at UC Berkeley

by Nellie Day July 13, 2015

BERKELEY, CALIF. — EdR will soon begin construction on the redevelopment of Bowles Hall, a historic residential facility serving the University of California, Berkeley. The Bowles Hall Foundation (BHF) is funding the $39.5 million project primarily through tax-exempt revenue bonds underwritten by Raymond James Financial Inc. and a capital campaign led by Bowles Hall alumni and foundation members. The University of California Board of Regents approved the BHF’s proposal in March 2014 to renovate, refurnish and reestablish Bowles Hall as a residential college. With the signing of a ground lease with the University of California, Berkeley, the Bowles Hall Foundation will become the owner and independent operator of Bowles Hall for 45 years. EdR was selected by BHF last year to execute all the aspects of this renovation, including the design and construction processes, which will be led by PYATOK Architecture + Urban Design and Clark Construction Group, respectively. Construction will begin this month. EdR will provide property management services to the community upon its completion in summer 2016. The University of California, Berkeley has been selected by U.S. News & World Report magazine as the highest ranked public university for nearly 20 years. Bowles Hall was built in 1929 …

July 13, 2015

Indiana Midwest Office

CBRE Arranges Sale of Suburban Office Park in Indianapolis to Group RMC

by Jonathan Mehall July 9, 2015

INDIANAPOLIS — Group RMC has acquired Castleton Park, a 1.1 million-square-foot suburban office park in Indianapolis. The purchase price and seller were undisclosed. The office park is located in an affluent area of Indianapolis between I-465 and I-69. Castleton Park sits on 120 acres of land and is comprised of 31 office buildings. During the last two years, tenants signed leases totaling more than 176,000 square feet at the property, which is currently 79 percent occupied. Group RMC also recently purchased Park Fletcher, a two-building business park in Indianapolis, and Summit, a four-building office park in Cleveland Ohio. A representative of Group RMC emphasized the Midwest is “the backbone of America.” Andy Banister and Dan Richardson, who are part of CBRE’s investment property group in Indianapolis, represented the seller in the transaction.

July 9, 2015

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