more_sales_and_leases

The Shopping Center Group Negotiates $16M Sale of 64,500 SF Retail Center in Orlando

by John Nelson March 30, 2017

ORLANDO, FLA. — The Shopping Center Group has negotiated the $16 million sale of Town Center Shoppes, a 64,500-square-foot retail center located at the intersection of Mitchell Hammock Road and South Central Avenue in Orlando. An undisclosed entity purchased the property, which is anchored by a 44,000-square-foot LA Fitness. Anthony Blanco, Lenard Williams and Mallory Silva of The Shopping Center Group marketed the property on behalf of the seller, an affiliate of Gemini Real Estate Advisors, a North Carolina-based consulting firm.

March 30, 2017

Office Southeast Tennessee

Serendipity Labs Coworking to Open New Location in Downtown Nashville

by John Nelson March 30, 2017

NASHVILLE, TENN. — Serendipity Labs Coworking, a shared office space concept, has signed a lease for 15,000 square feet of space within the L & C Tower complex in downtown Nashville. Serendipity Labs will occupy the first two floors at 159 4th Ave. N., which will feature a work lounge, team rooms, private offices, a café and event space. Serendipity Labs’ development partner for Nashville, SLN Capital LLC, is an entity owned by Dan McEwan, CEO of Memphis-based Maximum Hospitality, a Starwood Preferred Management Company. SLN Capital LLC signed the lease with landlord CIM Group. McEwan expects to open the newest Serendipity Labs location in early August. New York-based Serendipity Labs has six current locations with approximately 100 locations under development across the country. McEwan expects to open additional Serendipity Labs locations in the Nashville area in the near future.

March 30, 2017

Georgia Multifamily Southeast

Greystone Brown Brokers $6.1M Sale of Multifamily Community in Dalton, Georgia

by John Nelson March 30, 2017

DALTON, GA. — Greystone Brown Real Estate Advisors has brokered the $6.1 million sale of Chalet Valley, a 140-unit, Class B multifamily community located at 1809 Shadow Lane in Dalton, a city about 90 miles northwest of Atlanta. Dalton Valley LLC acquired the property from Augsburg Investments LLC, a Georgia-based holding company. Taylor Brown, Walter Miller, Chandler Brown and Bo Brown of Greystone Brown represented the seller in the transaction. The property consists of one-, two- and three-bedroom apartments, and includes a pool, laundry services and a pet park.

March 30, 2017

Connecticut Northeast Office

Colliers Brokers $2.1M Sale of Office Building in Wethersfield, Conn.

by Haisten Willis March 30, 2017

WETHERSFIELD, CONN. — Phil Gagnon of Colliers International has brokered the $2.1 million sale of a 44,000-square-foot office building in Wethersfield. The Class B building is located at 936 Silas Deane Highway. Gagnon represented the buyer, CT Peer Review Organization (CPRO), in the transaction. CPRO will occupy a portion of the building and plans to complete upgrades to the facility. Patrick Mulready of CBRE represented the seller, PBE Cos.

March 30, 2017

Illinois Industrial Midwest

CBRE Arranges Two Industrial Lease Renewals for Salco Products in Lemont, Illinois

by Kristin Harlow March 30, 2017

LEMONT, ILL. — CBRE has arranged two industrial lease renewals for Salco Products Inc. totaling 128,339 square feet in Lemont, about 28 miles southwest of Chicago. The manufacturer of railcar parts renewed a lease for 96,360 square feet at 1385 101st St. and a lease for 31,979 square feet at 20W267 101st St. The smaller facility will allow for overflow space for the projected growth of Salco’s tank and hopper car parts business. David Prioletti of CBRE represented Salco in the lease transactions.

March 30, 2017

Hospitality Mississippi Southeast

Penn National Gaming to Acquire Two Casinos in North Mississippi for $44M

by Taylor Williams March 29, 2017

ROBINSONVILLE, MISS. — Penn National Gaming Inc., a Pennsylvania-based racetrack and casino operator, has entered into a deal to acquire Bally’s Casino Tunica and Resorts Casino Tunica for $44 million in cash, according to the Memphis Business Journal. Bally’s Casino Tunica features a 40,000-square-foot casino and a 238-room hotel; Resorts Casino Tunica features a 35,000-square-foot casino and a 201-room hotel. Both properties are located in Robinsonville, Miss., approximately 30 miles southwest of Memphis.

March 29, 2017

Florida Life Sciences Office Southeast

Biotech Firm Leases 125,000 SF in Tampa

by Taylor Williams March 29, 2017

TAMPA, FLA. — Amgen, a California-based biopharmaceutical company, has leased 125,000 square feet of office space at Corporate Center, a 1.2 million-square-foot office building in the Tampa submarket of Westshore. Located at 2202 N. Westshore Blvd., the Class A property will house Amgen’s new, 450-employee business support center. Cousins Properties Inc., an Atlanta-based REIT that primarily invests in Class A office towers, represented Amgen in the transaction.

March 29, 2017

Hospitality Washington Western

Union Investment Buys Hilton Garden Inn in Downtown Seattle for $90M

by Nellie Day March 29, 2017

SEATTLE — Union Investment has purchased the 222-room Hilton Garden Inn in downtown Seattle for $90 million. The hotel is located at 1821 Boren Ave. This is the Hamburg-based real estate investment manager’s first acquisition on the West Coast.

March 29, 2017

Colorado Office Western

Boulder Community Health Buys 6.1 Acres in Colorado to Build 40,000 SF Medical Office

by Nellie Day March 29, 2017

ERIE, COLO. — Boulder Community Health has acquired 6.1 acres of land located at the northwest corner of Erie Parkway and South Briggs Street in Erie. The price was not disclosed. The group plans to build a 40,000-square-foot medical office building on the site, complete with an urgent care facility. Construction is set to begin late this year, with completion in the fourth quarter of 2018. The property sits adjacent to Erie Community Park and the Erie Community Center, along the main corridor into the historic downtown area.

March 29, 2017

Healthcare New York Northeast Office

Cushman & Wakefield Arranges $14.7M Sale of Medical Office Building in Nassau County

by Haisten Willis March 29, 2017

NORTH HILLS, NEW YORK — Cushman & Wakefield has arranged the $14.7 million sale of a two-story medical office building located at 3111 New Hyde Park Road in North Hills. Cushman & Wakefield’s Ben Efraimov, Jonathan Hageman and Patrick Yannotta handled the transaction. The property traded at a 6 percent cap rate. The building spans 24,600 square feet and is 100 percent occupied by three medical tenants. Integrated Medical Professionals occupies the front of the building and leases 13,800 square feet. Northern OBGYN and Aesthetic Dermatology are located in the rear of the property and occupy a combined 10,800 square feet. The property features 115 parking spaces and sits on 1.8 acres between Hollow Lane and Dakota Drive.

March 29, 2017

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