more_sales_and_leases

Songy Highroads Acquires Hyatt Hotel in Metro D.C.

by John Nelson November 9, 2015

FAIRFAX, VA. — An affiliate of Atlanta-based Songy Highroads LLC has purchased the Hyatt Fairfax at Fair Lakes in Fairfax, roughly 19 miles west of Washington, D.C. The 14-story hotel was constructed in 1989 and features 316 guestrooms, a 24-hour fitness center, heated indoor pool, jogging trails, the NoVa Market convenience store, patio for outdoor events and 9,000 square feet of meeting space, which includes a 4,140-square-foot ballroom. The hotel also features the NoVa Grill and NoVa Bar as dining options for guests. Songy Highroads plans to implement a $14 million renovation to the hotel, which will include updating the pool and fitness center, upgrading rooms and corridors to Hyatt Regency standards and converting 30 to 60 of the guestrooms into extended stay rooms. Future improvements could include enhancing the hotel entrance and adding new meeting space. Songy Highroads hired Ambridge Hospitality to manage the hotel.

November 9, 2015

North Carolina Retail Southeast

Inland Real Estate Corp., MAB Purchase Retail Center in Asheville MSA

by John Nelson November 9, 2015

WEAVERVILLE, N.C. — Inland Real Estate Corp. has formed a joint venture with MAB American Retail Partners LLC to acquire Weaverville Plaza, a 49,000-square-foot shopping center located in the Asheville suburb of Weaverville. The joint venture has signed a lease with Publix for the ground-up development of a new 49,000-square-foot grocery store at the property. The new owners also plan to invest roughly $21.6 million to redevelop the center, which will include demolition of existing retail space for the new Publix store, repositioning of in-line shop space and construction of a new outlot at the center. The completed redevelopment is expected to total approximately 139,000 square feet. Construction is expected to commence in the first quarter of 2016, with the new Publix store anticipated to open in 2017.

November 9, 2015

Retail South Carolina Southeast

SRS Brokers Sale of Walmart Neighborhood Market in South Carolina

by John Nelson November 9, 2015

ANDERSON, S.C. — SRS Real Estate Partners has brokered the sale of a newly constructed, 41,369-square-foot Walmart Neighborhood Market located at 2003 E. Greenville St. in Anderson. The store is situated at the northwest corner of Greenville Street and Reed Road directly across the street from AnMed Health Medical Center. Kyle Stonis, Pierce Mayson, and John Topping, Jr. of SRS’ Atlanta office represented the seller, Cypress Equities, in the transaction. The buyer, VEREIT Inc., was self-represented. The purchase price was undisclosed.

November 9, 2015

Industrial Midwest Office Wisconsin

Siegel-Gallagher Arranges Sales of Two Properties in Southern Wisconsin

by Christina Cannon November 9, 2015

MILWAUKEE AND OCONOMOWOC, WIS. — Siegel-Gallagher has completed the sale of two properties in separate transactions in Wisconsin. In the first transaction, Worthington Properties LLP purchased a 52,250-square-foot industrial property from Brandt/Quirk Realty Co. for an undisclosed price. The property is located at 1880 Executive Drive in Oconomowoc, approximately 35 miles west of Milwaukee. In the second deal, Andover Portland Avenue Associates LLC acquired the Riverfront Plaza, a 108,718-square-foot office building. RFP Office LLC sold the property located at 1110 N. Old World Third St. for an undisclosed price. Patrick Gallagher, Matson Holbrook and Max Schultz of Siegel-Gallagher brokered both transactions.

November 9, 2015

Industrial Midwest Wisconsin

The Dickman Co. Arranges 19,646 SF Industrial Lease South of Milwaukee

by Christina Cannon November 9, 2015

OAK CREEK, WIS. — The Dickman Company Inc./CORFAC International has arranged a 19,646-square-foot industrial lease for LTL Service of Wisconsin Inc. in Oak Creek, about 12 miles south of Milwaukee. LTL offers nationwide shipping of climate sensitive freight. The property is located at 330 E. Mahn Court. Maggster LLC is the landlord. Samuel M. Dickman Jr., Samuel D. Dickman and Cale Berg of Dickman were the sole brokers in the transaction.

November 9, 2015

Hospitality Northeast Pennsylvania

HREC Investment Advisors Arranges Sale of Two Hotels in Pennsylvania

by Amy Works November 6, 2015

MECHANICSBURG AND ENOLA, PA. — HREC Investment Advisors has arranged the sale of two hotels in Pennsylvania. The properties are the 70-room Baymont Inn & Suites Mechanicsburg Harrisburg West in Mechanicsburg and a 69-room Mircotel Inn & Suites by Wyndham in Enola. Ketan Patel and Geoff Davis of HREC represented the undisclosed seller in the transaction. The name of the buyer was not released.

November 6, 2015

New Hampshire Northeast Office

CBRE/NE Arranges $3.8M Sale of Office Building in New Hampshire

by Amy Works November 6, 2015

MERRIMACK, N.H. — CBRE/New England has arranged the sale of an office building located at 21 Manchester St. in Merrimack. HCOP Merrimack, a joint venture between Novaya Real Estate Ventures and Bradstreet & Chandler, sold the property, which included 4.1 acres of land, to an undisclosed buyer for $3.8 million. The 41,000-square-foot building is part of the three-building Heron Cove Office Business Park, which is situated on 15 acres. Roger Dieker and Michael Tamposi of CBRE/NE represented the seller, while Michael Ciummei and Brian Tisbert of JLL represented the buyer in the transaction.

November 6, 2015

Industrial Office Texas

Brennan Investment Group Acquires Six-Building Industrial Portfolio Totaling 132,997SF

by Katie Sloan November 6, 2015

HOUSTON AND STAFFORD, TEXAS — Brennan Investment Group LLC has acquired a six-building industrial portfolio totaling 132,997 square feet in Houston and Stafford. The buildings are located at 8600 to 8850 Jameel Road in Houston, and 12705 S. Kirkwood Road in Stafford. The properties consist of office and warehouse space.

November 6, 2015

Restaurant Retail Texas

Wingstop to Open in North Dallas

by Katie Sloan November 6, 2015

DALLAS — Bright Realty has brokered the lease for a new Wingstop in Dallas. The 1,781-square-foot restaurant will be located at the intersection of Preston Road and Frankford Road. Britton Lankford of Bright Realty represented the tenant in the transaction.

November 6, 2015

Georgia Industrial Southeast

Hillwood Investment Properties Purchases 320,000 SF Distribution Park in Atlanta

by Christina Cannon November 6, 2015

ATLANTA, GA. — Hillwood Investment Properties, through its U.S. Industrial Fund II, has acquired a 320,000-square-foot distribution park in Atlanta. The purchase price was not disclosed. Westridge Logistics Center is a Class A multi-tenant building located near the I-75/GA Highway 155 interchange. Westridge features concrete tilt wall construction, a minimum clear height of 24 feet, building depths of 180 to 210 feet, an ESFR sprinkler system, truck court depths of 120 feet, and T-5 lighting. Frank Fallon, Brian Budnick and Chris Riley of CBRE represented the seller in the transaction.

November 6, 2015

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