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Stockbridge, Trinity Sell Toringdon Office Park in Charlotte for $114.4M

by Nellie Day December 7, 2015

CHARLOTTE, N.C. — Stockbridge Capital Group and Trinity Capital Advisors have sold Toringdon Office Park, a 519,698-square-foot office park in Charlotte, to an unnamed buyer for $114.4 million. The six-building park is located at 3420, 3430, 3440, 3426, 3436 and 3530 Toringdon Way in the Ballantyne submarket, about 10 miles south of Charlotte’s Central Business District. The buildings were constructed between 2001 and 2008. The park is 87 percent leased. Notable tenants include Selective Insurance, Crown Castle, Heartland Payment Systems and TIAA-CREF. HFF’s Ryan Clutter represented the seller in the transaction. HFF’s Travis Anderson and Cory Fowler also arranged a $79 million acquisition loan through CIBC Capital Markets for the buyer. Clutter notes this was the first core office asset to be marketed and sold in the Ballantyne area since its inception more than 18 years ago. “The Toringdon transaction is a compelling sale for the Charlotte market as larger, non-CBD office trades have been less frequent in most U.S. office markets since the downturn in the economy,” he says. “Institutional capital was drawn to the compelling growth of the area, the considerable rise in rents and the strong leasing activity currently taking place in the park.” San Francisco-based Stockbridge …

December 7, 2015

CH2M Renews Lease for Headquarters Space in Englewood

by Nellie Day November 3, 2015

ENGLEWOOD, COLO. — CH2M has renewed its lease for a 370,485-square-foot office facility in the Denver submarket of Englewood. The space is located at 9191 S. Jamaica Street. The global engineering and project delivery company has leased the three-building property since 2007. This represented the largest office lease in Denver so far this year, according to Savills Studley, which represented CH2M. Monty Harris and Rob Link worked on behalf of the firm. The landlord, Columbia Property Trust, was represented by Jamie Gard and Jeff Castleton of Newmark Grubb Knight Frank.

November 3, 2015

Illinois Midwest Multifamily

Vail Davis Building in Chicago Undergoes $1.4M Renovation

by Christina Cannon October 26, 2015

ARLINGTON HEIGHTS, ILL. — The historic Vail Davis Building, located at 15 N. Vail Ave. in Arlington Heights, a northwest Chicago suburb, has undergone a complete makeover to create 16 luxury residences for upscale renters. CF Real Estate and 33, a real estate firm, acquired the historic mixed-use building in June 2014 for $2.5 million in an off-market transaction. Renovations at the Vail Davis Building included a total rehabbing of all rental units, new HVAC systems, electrical systems upgrades, new windows and a restored underground sewer system. The $1.4 million project was completed in early November and the 16 units are 100 percent leased. Restaurants La Tasca and Bangkok Café currently lease the ground-level retail space and have continued to operate during the renovations. Completed in 1929, the building originally included 16 apartments on the second and third floors and eight retail establishments on the first floor: Redker Real Estate, a druggist, barber, fish market, tailor, restaurant, Western Union and the Hoggay pool hall. In later years, one of the more well-known tenants in the building was the Hertzog cigar factory, makers of the hand-rolled Gander Cigar. The Vail Davis Building, which features an English-style architecture, includes a distinctive castle …

October 26, 2015

Retail Washington Western

Colliers International Arranges Sale of Three Washington Retail Centers for $59.6M

by Nellie Day September 10, 2015

SEATTLE — Seattle-based Colliers International has arranged the sale of three Washington retail properties for $59.6 million. Transactions include the sale of Surprise Lake Square, a 134,795-square-foot shopping center located in Milton, to Tourmaline Capital for $19.5 Million; the sale of Everett Village Center, a 120,912-square-foot retail center located in Everett, to Stockbridge Capital Group for $22.5 million; and the sale of Coal Creek Marketplace, a 55,875-square-foot retail center located in Newcastle, to RPAI for $17.6 million.

September 10, 2015

California Office Western

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

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