more_sales_and_leases

Cushman & Wakefield Brokers $37.9M Sale of Apartment Community in Wilmington

by John Nelson December 2, 2016

WILMINGTON, N.C. — Cushman & Wakefield has brokered the $37.9 million sale of One Midtown, a 223-unit apartment community located at 2945 Midtown Way in Wilmington. Built in 2015 by Wilmington-based Cape Fear Commercial Real Estate, the asset is situated between downtown Wilmington and the coast. The Wilkinson Group of Atlanta purchased the apartment community, which was 92 percent occupied at the time of sale. Jordan McCarley, Marc Robinson, Watson Bryant and Paul Marley of Cushman & Wakefield’s Charlotte office represented Cape Fear in the transaction.

December 2, 2016

Florida Retail Southeast

Morgan Wiseman Arranges $9.5M Sale of 268,000 SF Shopping Center in Orlando

by John Nelson December 2, 2016

ORLANDO, FLA. — Morgan Wiseman CRE, an Orlando-based retail broker, has arranged the $9.5 million sale of Pine Hills Marketplace, a 268,000-square-foot shopping center located on West Colonial Drive in Orlando. Built in 1965, the property was 70 percent leased at the time of sale and includes three outparcels, which are ground leased. The buyer, a private investment group based in Asia, purchased the property from AIG Investments in an off-market transaction. Florida Bank of Commerce provided acquisition financing in the deal. Morgan Wiseman represented the buyer, and AIG Investments was self-represented in the transaction.

December 2, 2016

Michigan Midwest Restaurant Retail

Colliers Negotiates Two New Leases for Naf Naf Grill in Sterling Heights and Troy, Michigan

by Kristin Harlow December 2, 2016

STERLING HEIGHTS AND TROY, MICH. — Colliers International has negotiated the leases for two new locations for Naf Naf Grill, a Middle Eastern-style restaurant, in Sterling Heights and Troy. The 2,481-square-foot building in Sterling Heights is located at 14796 Hall Road. The 2,388-square-foot building in Troy is located at 624 W. Big Beaver Road. The Chicago-based chain plans to continue expanding in the Midwest with locations in West Bloomfield, Southfield and other cities throughout metro Detroit. Brian Whitfield and Lou Frango of Colliers International Detroit arranged the leases on behalf of Naf Naf Grill.

December 2, 2016

Industrial Texas

Colliers Facilitates Acquisition of 30,768 SF Industrial Property in Deer Park, Texas

by Amy Works December 2, 2016

DEER PARK, TEXAS — Colliers International has arranged the acquisition of an industrial facility located at 316 Georgia Ave. in Deer Park. The net-leased facility spans 30,768 square feet. Jason Tangen of Colliers represented the undisclosed buyer, while Beau Kaleel of Cushman & Wakefield represented the undisclosed seller in the deal. The acquisition price was not released.

December 2, 2016

Colorado Industrial Western

HFF Secures $295M Refinancing for Five Industrial Portfolios

by Nellie Day December 1, 2016

SALT LAKE CITY, DENVER AND PHOENIX — HFF has secured $294.6 million in financing for five industrial portfolios. The light industrial portfolios contain 59 properties in five states, including Utah, Colorado and Arizona. The portfolio features a total of 69 buildings encompassing more than 8 million square feet throughout Salt Lake City, Denver, Phoenix, Atlanta and Dallas. The transaction includes three 15-year, fixed-rate loans that were placed with Great-West Life & Annuity Insurance Co. and two 15-year, fixed-rate loans that were placed with Voya Investment Management. The proceeds will be used to refinance existing debt. HFF’s Joe B. Thornton Jr., John Rose, Jeremy Womack, Josh Simon and Gregg Shapiro worked on behalf of the borrower.

December 1, 2016

New Jersey Northeast Office

Connell Foley Relocates to 71,000 SF Office Space in Roseland, New Jersey

by Amy Works December 1, 2016

ROSELAND, N.J. — The law firm of Connell Foley is relocating its headquarters to 71,000 square feet of office space at 56 at Roseland, an office building located at 56 Livingston Ave. in Roseland. Mountain Development Corp. and Square Mile Capital Management own the property. Connell Foley is relocating its New Jersey headquarters from a nearby location in Roseland and will occupy space on the first and second floors starting in late spring 2017. Other tenants at the property include Lowenstein Sandler LLP and Brown & Brown. Newmark Grubb Knight Frank is the leasing agent for the building.

December 1, 2016

Massachusetts Northeast Retail

Linear Retail Properties Leases 18,100 SF to PetSmart in Bourne, Massachusetts

by Amy Works December 1, 2016

BOURNE, MASS. — Linear Retail Properties has leased 18,100 square feet to PetSmart at its Bourne Bridge Crossing, a shopping center located at 2 Bridge Approach St. in Bourne. Joel Kadis and Greg Drocz provided in-house representation for the landlord, Linear Retail Properties, while Andrew Bonica of Eastern Retail and Brian Goodwin of Metro Commercial Real Estate represented the tenant in the deal. Additionally, Eastern Mountain Sports is relocating inline to 4,103 square feet and Starbucks Coffee extended its lease at the shopping center. Kadis and Drocz represented Linear Retail, while Ken Green of RCS Real Estate Advisors represented the tenant in the relocation.

December 1, 2016

Multifamily Texas

Marcus & Millichap Arranges Sale of 172-Unit Apartment Community in Carrollton, Texas

by Amy Works December 1, 2016

CARROLLTON, TEXAS — Marcus & Millichap has arranged the sale of Fox Creek Apartments, a multifamily property located at 1910 S. Josey Lane in Carrollton. Constructed in 1969, the property features 172 units in floor plans ranging from 712 square feet to 1,000 square feet, a swimming pool, on-site laundry facility, open parking and on-site management and maintenance. John Barker and Joshua Ross of Marcus & Millichap represented the undisclosed seller, while Barker also procured the buyer, a California-based private investor. Tim Speck is Marcus & Millichap’s broker of record in Texas. The acquisition price was not released.

December 1, 2016

Industrial Office Texas

Cypressbrook Co. Closes Three Deals Totaling 69,604 SF in Texas

by Amy Works December 1, 2016

HUMBLE, SPRING AND WALLER, TEXAS — Cypressbrook Co. has arranged three transactions totaling 69,604 square feet of office and warehouse space in Texas. In the first transaction, John Hornbuckle of Cypressbrook Co. represented the landlord, Cypressbrook Huntington Volta LP, in the lease of 56,404 square feet of warehouse distribution space, located at 8575 Volta Drive in Humble’s Kenswick Air Freight submarket, to MIQ Logistics. Barrett Gibson of Colliers International represented the tenant. In the second deal, Coil Tubing Technology Inc. sold a 6,000-square-foot office building located at 22305 Gosling Road in Spring. Southern Texas Section PGA acquired the property for an undisclosed price. Joyce Sterling of Cypressbrook Co. represented the seller, while Randy Wilhelm of NAI Partners represented the buyer. In the third transaction, V.J. Towry leased 7,200 square feet of office and warehouse space, located at 41254 Park 290 Drive in Waller, to Cannon Construction. Denis Ksiazek of Cypressbrook Co. represented the landlord, while Melissa Hegemeyer of Coldwell Banker Properties Unlimited represented the tenant.

December 1, 2016

Florida Mixed-Use Southeast

Cushman & Wakefield Arranges $11.4M Sale of Mixed-Use Center in Miami

by John Nelson December 1, 2016

MIAMI — Cushman & Wakefield has arranged the $11.4 million sale of Plaza 8, a 53,428-square-foot mixed-use center located in Miami. The two-story property consists of ground-floor retail with a mix of office and retail space on the second floor. Miguel Alcivar, Dominic Montazemi and Michael Mandel of Cushman & Wakefield and Bill Strauss of WCL Properties represented the seller, AD4 Group, in the transaction. The buyer was undisclosed.

December 1, 2016

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