more_sales_and_leases

CBRE Arranges $50.5M Sale of Two Arbor Senior Communities in Georgia

by John Nelson October 5, 2016

PEACHTREE CITY AND MARIETTA, GA. — CBRE National Senior Housing has arranged the sale of Arbor Terrace Peachtree City and Arbor Terrace at East Cobb, two seniors housing communities located in Georgia, for $50.5 million. Arcapita Investment Management purchased the two communities, respectively located in the Atlanta suburbs of Peachtree City and Marietta, from Capitol Seniors Housing. The Arbor Co. will continue to operate the two communities. Arbor Terrace Peachtree City features 112 independent living units and 34 assisted living units. Arbor Terrace at East Cobb features 56 assisted living units and 34 memory care units. Lisa Widmier and Matthew Whitlock of CBRE represented the seller in the transaction. The firm’s Aron Will also arranged a seven-year, fixed-rate loan with 36 months of interest-only payments to fund the acquisition. The financing is secured through Freddie Mac.

October 5, 2016

Industrial Midwest Wisconsin

The Dickman Company/CORFAC Arranges Sale of Industrial Building in Oconomowoc, Wisconsin

by Amy Works October 4, 2016

OCONOMOWOC, WIS. — The Dickman Company/CORFAC International has brokered the sale of an industrial building located at 940 Blue Ribbon Circle North in Oconomowoc. Ohkool Investments acquired the 30,000-square-foot property from PF – Commerce Unit I LLC for an undisclosed sum. Samuel Dickman, Zach Noble and Anthony Huenerbein of The Dickman Company brokered the transaction.

October 4, 2016

Illinois Midwest Office

Mortenson Construction Relocates Headquarters to Itasca, Illinois

by Amy Works October 4, 2016

ITASCA, ILL. — Mortenson Construction is relocating its headquarters to larger office space at 300 Park Blvd. in Itasca from its current location in Elk Grove Village. The company will consolidate its operations into a single space designed for continued growth at the new location. Approximately 50 executives and project support team members will occupy the new office space full time.

October 4, 2016

New Jersey Northeast Office

CBRE Negotiates $174.5M Sale of 973,000 SF Office Complex in Newark, New Jersey

by Amy Works October 4, 2016

NEWARK, N.J. — CBRE has brokered the sale of 80 Park Plaza, a 973,000-square-foot office park located in Newark. Columbia Property Trust sold the complex to a joint venture between New York-based Nightingale Properties and Simon Glick, a private real estate investor, for $174.5 million. The complex features a 26-story office tower and a three-story plaza building. Serving as the headquarters for Public Service Enterprise Group (PSEG) since 1979, the property is currently 85 percent net leased to PSEG, with 14 years remaining on the lease term. Jeffrey Dunne, Kevin Welsh, Brian Schulz and Dudley Ryan of CBRE represented the seller and procured the buyer in the transaction.

October 4, 2016

Hospitality New York Northeast

HREC Facilitates Sale of Inn at The Finger Lakes in Auburn, New York

by Amy Works October 4, 2016

AUBURN, N.Y. — HREC Investment Advisors has arranged the sale of Inn at The Finger Lakes, located at 12 Seminary Ave. in Auburn. TJ Hospitality acquired the 77-room property for an undisclosed price. Mark von Dwingelo and Pat Culligan of HREC represented the seller, FLH Development, in the deal.

October 4, 2016

New York Northeast Retail

The Boulder Group Arranges $3.8M Sale of Single-Tenant Retail Property in New York

by Amy Works October 4, 2016

MANLIUS, N.Y. — The Boulder Group has brokered the sale of a single-tenant net-leased Rite Aid property located at 8230 Cazenovia Road in Manlius. An East Coast-based investor acquired the property from a partnership of high-net-worth individuals for $3.8 million in a 1031 exchange. There are more than 10 years remaining on the lease of the 12,795-square-foot property.

October 4, 2016

Northeast Office Vermont

Nedde Real Estate Signs New Office Tenant in Williston, Vermont

by Amy Works October 4, 2016

WILLISTON, VT. — ASIC North has signed a lease for 10,829 square feet of office space at 291 Hurricane Lane in Williston. The company is expanding its location and relocating from 310 Hurricane Lane. ASIC North provides comprehensive VLSI design services to the semi-conductor industry. The landlords are Doug Nedde and Fernando Cresta. Duncan Harris of The Kingsland Company represented the tenant, while Cresta represented the landlords in the deal.

October 4, 2016

Hospitality Texas

CBRE Hotels Brokers Sale of Homewood Suites by Hilton in San Antonio

by Haisten Willis October 4, 2016

SAN ANTONIO — CBRE Hotels has brokered the sale of a 109-room Homewood Suites by Hilton at 215 Richland Hills Drive in San Antonio. Good Day Properties LLC purchased the limited-service hotel from SAT Westlakes LLC for an undisclosed price. Michael Yu, Rahul Bijlani and Agrama Mannapperuma of CBRE Hotels represented the seller and the buyer. Homewood Suites by Hilton Lackland AFB/SeaWorld was built in 2013 and features studio and one-bedroom suites.

October 4, 2016

Industrial Texas

NXT Capital Finances Acquisition of Seven Multi-Tenant Warehouse Buildings in Austin

by Haisten Willis October 4, 2016

AUSTIN, TEXAS — NXT Capital has financed the acquisition of seven multi-tenant warehouse/distribution buildings in Austin. The buildings total 460,000 square feet. The properties offer access to metro Austin via I-35, Highway 290, Highway 183 and Loop 1. All are within a 30-minute drive to Austin-Bergstrom International Airport. Seth Parker in the Dallas office of NorthMarq Capital brought the loan to NXT Capital.

October 4, 2016

Industrial Texas

Waterman Steele Negotiates Sale of 30 Acres to Galveston Bay Foundation

by Haisten Willis October 4, 2016

KEMAH, TEXAS — Waterman Steele Real Estate Advisors has negotiated the sale of 30 acres in Kemah. Zircon Properties Inc., a Maryland corporation, and Beethoven Realty Associates, a Maryland limited liability company, were the sellers. The Galveston Bay Foundation, a Texas nonprofit corporation, was the buyer. The land is located on the east side of State Highway 146 near its intersection with State Highway 96. Waterman Steele’s Lance Gilliam and Adrian Ramirez represented the seller. Doug Nicholson with Newmark Grubb Knight Frank represented the buyer. The Galveston Bay Foundation was established in 1987 to address issues and concerns related to Galveston Bay. The foundation’s mission is to preserve, protect and enhance the natural resources of the Galveston Bay estuarine system and its tributaries for the community.

October 4, 2016

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