more_sales_and_leases

Franklin Street Brokers $2.3M Sale of Retail Property in Georgia

by John Nelson March 10, 2016

WINDER, GA. — Franklin Street has arranged the $2.3 million sale of Mill Shoppes of Winder, a 19,019-square-foot, two-building retail development in Winder. The property is located at 105 and 111 E. May St. John Tennant and Bryan Belk of Franklin Street’s Atlanta office represented the seller, Alpha Opportunity Fund I LLC, in the transaction. An unnamed Atlanta-based private investor purchased the property, which is currently 79 percent leased to tenants such as Subway, Titlemax of Georgia and Little Caesars Pizza.

March 10, 2016

Florida Office Southeast

NGKF Capital Markets Brokers Sales of Office Building, 7-Eleven Totaling $10.7M

by John Nelson March 9, 2016

ALTAMONTE SPRINGS AND WINTER GARDEN, FLA. — NGKF Capital Markets has brokered the sales of two commercial properties in metro Orlando totaling $10.7 million. The transactions include the $6.2 million sale of a 100,000-square-foot, Class A office building in Altamonte Springs and a 7-Eleven store and gas station in Winter Garden. Michael Davis of NGKF represented the seller, CenturyLink, in the sale of the fully leased office building, which is located at 850 E. Altamonte Drive. Adam Greenberg and Michael Lapointe of NGKF represented the seller of the 4,798-square-foot 7-Eleven, Boca Brickell 13 LLC.

March 9, 2016

Goshen Plaza Gaithersburg CVS McDonald’s

Maryland Retail Southeast

CVS, McDonald’s Renew Leases at Goshen Plaza in Gaithersburg

by John Nelson March 9, 2016

GAITHERSBURG, MD. — Elion Partners has inked long-term lease renewals with CVS and McDonald’s at Goshen Plaza, a 45,654-square-foot shopping center in Gaithersburg. Rappaport manages Goshen Plaza’s leasing strategy, physical plant and construction activities on behalf of Elion Partners. Goshen Plaza has recently undergone a capital improvement program that included upgrades to the shopping center’s exterior, landscaping and parking lots.

March 9, 2016

Midwest Multifamily Seniors Housing Wisconsin

Blueprint Arranges $6.5M Sale of Assisted Living Community Near Milwaukee

by Christina Cannon March 9, 2016

WEST ALLIS, WIS. — Blueprint Healthcare Real Estate Advisors, a brokerage based in Chicago, has arranged the $6.5 million sale of Lamplight Inn of West Allis, a 118-unit assisted living community in the Milwaukee suburb of West Allis. The seller was a private ownership group looking to divest non-core assets. The buyer is a publicly traded REIT, which will continue leasing the property to the current operator. None of the specific companies involved in the transaction were disclosed. The purchase price equates to approximately $55,000 per unit. Ben Firestone and Jacob Gehl led the Blueprint team, supported by Mike Segal and Mario Wilson.

March 9, 2016

Industrial Michigan Midwest

Friedman Brokers Sale of 165,016 SF Flex Property in Detroit Suburb

by Christina Cannon March 9, 2016

FARMINGTON HILLS, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of a three-building flex park in Farmington Hills, approximately 22 miles northwest of Detroit, for an undisclosed price. Garrison Investment Group LP sold Discovery Centre to Haggerty 4 LLC. The 165,016-square-foot property was 81 percent occupied at the time of sale and is located on Country Club Drive. Rich Deptula of Friedman represented the seller in the transaction, and Todd Hawley of Friedman represented the buyer.

March 9, 2016

Northeast Office Pennsylvania

Joint Venture Buys 12-Building Office Park in Pennsylvania

by Amy Works March 9, 2016

WAYNE, PA. — PDC-Old Eagle LLC and Long Wharf Real Estate Partners have partnered to acquire Evolve IP Corporate Center, a 12-building office park located at 983-999 Old Eagle School Road in Wayne. The partnership secured a $29.6 million five-year, fixed-rate acquisition loan for the 376,303-square-foot property. Situated on 49.9 acres, the office park is 80.2 percent occupied by 95 tenants, including Evolve IP LLC, McBee Associates, Administrative Concepts Inc., YSC Academy, Prosoft Software and North American Specialty Products. Jim Cadranell of HFF arranged the joint venture equity and debt financing for the buyers. John Schonborn of HFF represented Long Wharf Real Estate Partners and Pat McNulty, also of HFF, represented PDC-Old Eagle in the joint venture transaction.

March 9, 2016

The-Equinox-Golf-Spa-Manchester-Village-VT

Hospitality Northeast Vermont

Carey Watermark Investors Inc. Acquires The Equinox Golf Resort & Spa in Vermont

by Amy Works March 9, 2016

MANCHESTER VILLAGE, VT. — Carey Watermark Investors Inc. has acquired The Equinox Golf Resort & Spa in Manchester Village from HEI Hotels & Resorts for an undisclosed price. Situated on 1,300 acres between the Green and Taconic Mountains, the resort offers 195 guestrooms, 18,500 square feet of flexible meeting and event space, an 18-hole championship golf course, a 13,000-square-foot spa and five food and beverage outlets, as well as a variety of guest amenities and experiences. The hotel, which is part of Starwood’s The Luxury Collection, will be managed by HEI Hotels & Resorts. JLL’s Hotels & Hospitality Group brokered the sale.

March 9, 2016

Industrial Western

Inglewood Distribution, Logistics Building Trades for $5.1M

by Nellie Day March 9, 2016

LOS ANGELES — An undisclosed buyer has purchased an 18,885-square-foot distribution and logistics building in the Los Angeles submarket of Inglewood for $5.1 million. The building is situated on Aviation Boulevard. The listing initially began as a lease before converting to a sale. Izzy Eichenstein and Todd LaPlante of CBRE’s LAX Industrial Team executed the transaction.

March 9, 2016

New York Northeast Office Retail

Mission Capital Secures $45M Loan for Savanna’s Acquisition of Manhattan Commercial Property

by Amy Works March 8, 2016

NEW YORK CITY — Mission Capital has secured $45 million in financing for the acquisition of a commercial property located at 1825 Park Ave. in Manhattan’s Harlem. Savanna acquired the 135,000-square-foot property for $48 million. At the time of sale, the 12-story building was 55 percent occupied by a mix of retail and office tenants, including JP Morgan Chase and Popeye’s. Jonathan More, Ari Hirt and Jamie Matheny of Mission Capital arranged the financing for the acquisition. The name of the seller was not released.

March 8, 2016

New Jersey Northeast Retail

Clarion Partners Acquires 350,000 SF Shopping Center in Northern New Jersey

by Amy Works March 8, 2016

WEST ORANGE, N.J. — Clarion Partners has purchased Essex Green, a community shopping center located 495 Prospect Ave. in West Orange, for an undisclosed price. Situated on 33 acres, the 350,000-square-foot shopping center was 96 percent occupied at the time of closing. Tenants includes ShopRite, Macy’s Backstage, a nine-screen AMC Theatre with dine-in service, Total Wine & More, Sears Appliance/Outlet, Petco, TGI Fridays, Panera Bread, GameStop and GNC. Jose Cruz, Kevin O’Hearn, Stephen Simonelli, Andrew Scandalios and Chris Munley of HFF represented the seller, a global investment manager, in the transaction.

March 8, 2016

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