more_sales_and_leases

Veritas Advisory Group Expands at Thanksgiving Tower in Dallas

by Haisten Willis August 25, 2016

DALLAS — Veritas Advisory Group Inc. has signed a long-term, 19,166-square-foot lease extension and expansion for its Dallas office at Thanksgiving Tower. Veritas provides forensic accounting, litigation support and expert witness testimony to clients in a variety of industries, including banking, construction, energy, manufacturing and telecommunications. Arthur Green of Avison Young represented Veritas Advisory in renewal negotiations. A $38 million infrastructure, lobby and plaza area renovation is underway at Thanksgiving Tower that is scheduled for completion by the end of 2016. Improvements include HVAC replacement, thermal storage tank refurbishment, elevator modernization and podium redevelopment.

August 25, 2016

M&M Arranges Sale of 42-Room Hospitality Property in Atlanta

by Haisten Willis August 25, 2016

ATLANTA, TEXAS — Marcus & Millichap has arranged the sale of Best Western Pineywoods Inn, a 42-room hospitality property located in Atlanta, 25 miles south of Texarkana. Skyler Cooper, Chris Gomes and Allan Miller of Marcus & Millichap marketed the property on behalf of the seller, a private investor. Gomes, Miller and Cooper also procured the buyer, a private investor. Best Western Pineywoods Inn is located at 306 US Highway 59 Loop. Constructed in 2001, the two-story hotel is located in the Pineywoods region of northeast Texas. The property features an outdoor swimming pool, business center, breakfast area and meeting space.

August 25, 2016

New York Northeast Retail

Thor Equities Acquires 3,400 SF Retail Space in Soho for $12.6M

by Amy Works August 25, 2016

NEW YORK CITY — Thor Equities has acquired a retail co-op located at 125 Greene St. in Soho for $12.6 million. Featuring more than 3,400 square feet of space, the property is occupied by Kisan, a French fashion boutique. The name of the seller was not released.

August 25, 2016

Industrial New Jersey Northeast

Silbert Realty Negotiates Sale of Proposed Redevelopment Site in New Jersey

by Amy Works August 25, 2016

EAST RUTHERFORD, N.J. — Silbert Realty & Management Co. (SRM) has arranged the sale of a development site located at 401 Central Ave. in East Rutherford. A New Jersey-based real estate development group acquired the proposed 90,000-square-foot industrial/flex/office site from an undisclosed seller for an unreleased price. Situated on approximately 5 acres, the property is zoned for industrial and served by city utilities. The existing 137,000-square-foot structure features 26,000 square feet of office space, overhead doors and tail board loading. Wayne Kasbar of SRM represented both the seller and buyer in the transaction.

August 25, 2016

Delaware Industrial Northeast

Harvey, Hanna & Associates Adds Anchor Plastics to Twin Spans Business Park in Delaware

by Amy Works August 25, 2016

NEW CASTLE, DEL. — Harvey, Hanna & Associates (HHA) has added Quebec, Canada-based Anchor Plastics Ltd. to Twin Spans Business Park in New Castle. Anchor Plastics recently opened its latest North American facility by leasing 20,500 square feet of warehouse and office space at 500 Ships Landing Way in Twins Spans Business Park. Anchor Plastics is a manufacturer of plastic containers and customizable products for commercial customers. Situated on 135 acres, Twin Spans Business Park features 1.85 million square feet of Class A commercial warehouse space along the Delaware River. Jamie Vari of JLL represented Anchor Plastics in the lease transaction. HHA owns and manages the business park.

August 25, 2016

Colorado Hospitality Western

Summit Hotel Properties Buys Marriott in Boulder for $61.4M

by Nellie Day August 25, 2016

BOULDER, COLO. — Summit Hotel Properties has purchased the 157-room Marriott hotel in Boulder for $61.4 million. The hotel is located at 2660 Canyon Blvd. The Marriott is situated within walking distance of the University of Colorado, Folsom Field and Pearl Street Mall. Notable employers in the area include IBM, Google, NCAR, Qualcomm and Covidien. The hotel has achieved a revenue per available room (RevPAR) of $167 a night over the past 12 months. This represents a 51 percent premium over the Summit’s pro forma RevPAR for its portfolio.

August 25, 2016

Indiana Midwest Office

Rubenstein Partners, Strategic Capital Partners Acquire 1.2 MSF Office Complex Near Indianapolis for $162.9M

by Christina Cannon August 25, 2016

CARMEL, IND. — Rubenstein Partners LP and Strategic Capital Partners have acquired Parkwood Crossing, a 1.2 million-square-foot office complex in Carmel approximately 25 miles north of Indianapolis, for $162.9 million. The seller, Duke Realty Corp., developed the eight-building property between 1989 and 2005. The buyers will build a standalone amenity center, which will feature dining, fitness, conference and collaboration space. The joint venture also plans to make upgrades to the buildings’ aesthetics and physical systems. JLL brokered the transaction and will serve as exclusive leasing agent for the property.

August 25, 2016

Midwest Wisconsin

Siegel-Gallagher Arranges 3,430 SF Office Lease in Milwaukee Suburb

by Christina Cannon August 25, 2016

PEWAUKEE, WIS. — Siegel-Gallagher has arranged a 3,430-square-foot office lease in Pewaukee, approximately 20 miles west of Milwaukee. Pewaukee School District will occupy space at the building. Paul Road Properties is the landlord. Shaun Dempsey of Siegel-Gallagher brokered the transaction.

August 25, 2016

Alabama Hospitality Southeast

Hunter Hotel Advisors Brokers $13.3M Sale of Hilton Birmingham Perimeter Park

by John Nelson August 25, 2016

BIRMINGHAM, ALA. — Hunter Hotel Advisors has brokered the sale of the 205-room Hilton Birmingham Perimeter Park in Birmingham. The buyer, Atlanta-based Peachtree Hotel Group, purchased the eight-story hotel with plans to invest $10.5 million to renovate and reposition the property into a DoubleTree by Hilton hotel. The sales price and seller were undisclosed, but the Birmingham Business Journal reports the sale price as nearly $13.3 million.

August 25, 2016

Maryland Retail Southeast

H&R Retail Arranges Hobby Lobby’s 57,497 SF Lease in Maryland

by John Nelson August 25, 2016

CALIFORNIA, MD. — H&R Retail has represented Hobby Lobby in its 57,497-square-foot lease for a new store at Laurel Glen Shopping Center. The asset is located at 45315 Alton Lane in California. David Ward and Ben Hoskins of H&R Retail, along with The Keith Corp., brokered the transaction. Shanri Holdings Corp. owns the new store, which is set to open in early 2017.

August 25, 2016

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