more_sales_and_leases

PlainsCapital Bank to Open New Office and Retail Location at The Star in Frisco

by Haisten Willis October 19, 2016

FRISCO, TEXAS — PlainsCapital Bank has leased a 5,083-square-foot office facility and a 4,000-square-foot retail space at The Star in Frisco. JLL’s Paul Whitman negotiated both leases on behalf of the tenant. Worthey Wiles of Lincoln Property Co. represented the landlord in the office transaction, and Robert Dozier, also of Lincoln, represented the landlord in the retail transaction. Founded in 1988, PlainsCapital Bank provides commercial banking, commercial lending, commercial real estate lending, treasury management, private banking, residential mortgages and trust and asset management services. The Dallas-based institution operates nine locations in the Dallas area.

October 19, 2016

Industrial Texas

NAI Partners, Colliers Broker Sale of 17.4-Acre Land Site in Houston

by Haisten Willis October 19, 2016

HOUSTON — Carolyn Maxey, Trustee has sold a 17.4-acre undeveloped land tract at 700 Almeda Genoa Road in Houston to McKee Tessa LLC. The site is located 1.5 miles west of Highway 288 in south Houston. Michael Keegan and Clay Pritchett of NAI Partners represented the seller, Carolyn Maxey, Trustee, and Chase Spence of Colliers International represented the buyer, McKee Tessa LLC.

October 19, 2016

Industrial Midwest Minnesota

Signature Associates Arranges Two Industrial Sales Totaling 22,350 SF in Kalamazoo

by Amy Works October 19, 2016

KALAMAZOO, MICH. — Signature Associates has brokered two industrial sales totaling 22,350 square feet in Kalamazoo. In the first transaction, Hinkle Properties sold a 15,930-square-foot industrial property, located at 433 Ransom St., to WAI LLC for an undisclosed price. Jeff Chrystal of Signature Associates represented the seller in the deal. In the second transaction, Raitt Corp. sold a 6,420-square-foot industrial building, located at 3785 Franklin St., to Mikowski Holdings Co. for an undisclosed sum. Chrystal and Eric Holdorf of Signature Associates represented the seller in the transaction.

October 19, 2016

Michigan Midwest Office

NAI Wisinski Negotiates Acquisition of 4,800 SF Office Building in Grand Rapids

by Amy Works October 19, 2016

GRAND RAPIDS, MICH. — NAI Wisinski of West Michigan has arranged the acquisition of an office building located at 3330 Grand Ridge Drive NE in Grand Rapids. Redstone Homes, a West Michigan-based homebuilder, acquired the 4,800-square-foot building for an undisclosed sum. The buyer plans to consolidate its sales and operations offices at the property. Jeremy Veenstra of NAI Wisinski of West Michigan represented the buyer, while Anne Wisinski-Rosely and Joshua Jacobs, also of NAI Wisinski, represented the undisclosed seller in the transaction.

October 19, 2016

Indiana Midwest Office Retail

Bradley Co. Brokers Four Leases in Fort Wayne

by Amy Works October 19, 2016

FORT WAYNE, IND. — Bradley Co. has arranged four leases for office and retail space in Fort Wayne. Kelly Castle of Bradley Co. represented the tenant in each transaction. Levitate LLC leased 2,709 square feet of office space at 803 S. Calhoun St.; Deck Factory LLC inked a deal for retail space at 1509 Goshen Road; Mad Anthony Investments LLC leased 2,393 square feet of retail space at 2701-2703 Broadway; and RITS Ltd. Brokers signed a lease for retail space at 6127 Stellhorn Road within Maplewood Plaza. The names of the landlords were not released.

October 19, 2016

New York Northeast Office

Laurelwood Corporate Center Trades Hands in Voorhees, New Jersey

by Amy Works October 19, 2016

VOORHEES, N.J. — An entity related to Interstate Commercial Real Estate Inc. has acquired Laurelwood Corporate Center, an office building located at Haddonfield-Berlin and Laurel Oak Road in Voorhees. Quaker Commercial Properties sold the property for $6.8 million. The building offers 81,577 square feet of Class A office space. Evan Zweben, Jeff Algatt and Brian Sherlock of Colliers arranged the transaction. Additionally, Colliers has been retained by the buyer as its leasing agent for the property.

October 19, 2016

Multifamily New York Northeast

Ariel Property Advisors Facilities $2.7M Sale of Multifamily Building in Brooklyn

by Amy Works October 19, 2016

NEW YORK CITY — Ariel Property Advisors has arranged the sale of a multifamily building located at 392 15th St. in Brooklyn’s Park Slope neighborhood. A private investor sold the six-story property for $2.7 million. The 4,860-square-foot building features six apartment units: five two-bedroom apartments and one three-bedroom duplex. Five of the apartments are free-market units and one apartment is a rent-controlled unit. Mark Spinelli, Michael Tortorici, Shimon Shkury, Daniel Tropp and Jonathan Berman of Ariel Property Advisors represented the seller. The name of the buyer was not released.

October 19, 2016

Maryland Multifamily Southeast

PRP Acquires Apartment Community in Maryland for $70.4M

by John Nelson October 19, 2016

GERMANTOWN, MD. — PRP LLC has acquired The Park at Kingsview Apartments, a 326-unit, Class A apartment community located in the Kingsview community of Germantown. PRP purchased the property from TA Associates Realty for $70.4 million. Built in 2001 with average unit sizes of 1,055 square feet, The Park at Kingsview features a swimming pool, clubhouse, fitness center with an aerobic studio, conference room/business center, lounge with a fireplace and a children’s play room. The community also offers walking, jogging and biking trails, tennis courts, playgrounds, a picnic pavilion and a dog park. PRP plans to implement a $3.5 million renovation of the property, including a renovated clubhouse, new pool area, in-unit renovations featuring new kitchens, stainless steel energy-efficient appliances, quartz countertops, 42-inch espresso cabinetry, nickel hardware, new lighting, new bathrooms and wide plank flooring.

October 19, 2016

Mississippi North Carolina Southeast Student Housing

Blue Vista Capital Sells Three Student Housing Properties in North Carolina, Mississippi

by John Nelson October 19, 2016

CHICAGO — Chicago-based Blue Vista Capital Partners has sold three student housing communities located in Mississippi and North Carolina totaling 990 beds. The dispositions include Lafayette Place, a 366-bed community located near the University of Mississippi in Oxford; First Street Place, a 288-bed community located near East Carolina University in Greenville, N.C.; and Pembroke Place, a 336-bed community located near The University of North Carolina at Pembroke in Pembroke, N.C. Campus Partners LLC acquired Pembroke Place. The buyers of Lafayette Place and First Street Place were undisclosed. Dorothy Jackman, Steven Peden and Travis Prince of Colliers International represented Blue Vista Capital Partners in all three transactions. The sales prices were undisclosed.

October 19, 2016

Nevada Retail Western

Edmond Town Center in Las Vegas Changes Hands for $5.5M

by Nellie Day October 18, 2016

LAS VEGAS — Devarim 18 LLC has acquired Edmond Town Center, a 21-acre shopping center in Las Vegas, for $5.5 million. The center is located at 921-1081 W. Owens Ave. Scot Prince and Neal Anzalotti of Logic Commercial Real Estate represented the buyer. CBRE’s Charles Moore and Marlene Fujita represented the seller.

October 18, 2016

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