more_sales_and_leases

NAI UCR Properties Brokers $2.9M Sale of Retail/Warehouse Facility in Metro Jackson

by John Nelson October 22, 2015

PEARL, MISS. — NAI UCR Properties has brokered the $2.9 million sale of a 100,000-square-foot retail/warehouse facility in Pearl, a suburb of Jackson. The vacant property was originally a build-to-suit for a wholesale furniture retailer and featured a showroom and distribution center. The property is close to the intersection of I-55 and I-20 near the Jackson International Airport. Amerco Real Estate Co., which provides development and real estate services for U-Haul, purchased the facility and was self-represented in the transaction. Micah McCullough and Brett Bailey of NAI UCR Properties represented the seller.

October 22, 2015

Hospitality Texas

NAI Partners Arranges Sale of Three-Acre Hotel Site in Metro Dallas

by Haisten Willis October 21, 2015

FORNEY, TEXAS — NAI Partners represented Forney Innkeepers in the disposition of three acres for a hotel site located in Forney, 21 miles east of Dallas. Forney is a secondary market and transportation corridor to downtown Dallas. The buyer is approved for a 72-room Holiday Inn Express development for the site. Lisa Hankamer of NAI Partners in Houston represented the seller in negotiating the sale to Bhavi Hospitality.

October 21, 2015

Office Texas

CBRE Arranges Relocation of CareReview’s Headquarters in Arlington

by Haisten Willis October 21, 2015

ARLINGTON, TEXAS — CBRE has arranged the headquarters relocation of CareReview from Arlington Downs Tower, located at 2225 E. Randol Mill Road, to Brookhollow Two at 2221 E. Lamar Blvd. in Arlington. The third-party insurance review company’s new headquarters spans 10,695 square feet and will more than double its current space. Richmond Collinsworth of Bradford Cos. represented the tenant, and Bryan Graham of CBRE represented the landlord, Brookhollow II Holdings.

October 21, 2015

Industrial New Jersey Northeast

Sitex Group Buys Two Properties in Northern New Jersey

by Jaime Lackey October 21, 2015

CARLSTADT AND ELIZABETH, N.J. — Private equity firm Sitex Group recently closed on a 30,000-square-foot warehouse facility located at 620 Gotham Parkway in Carlstadt. The building has an above-standard parking ratio and is 100 percent air-conditioned. Sitex plans to make several upgrades to the property, including updating the façade, office space, lighting and sprinkler systems. The seller was a private investor. JLL’s David Knee and Gary Politi brokered the sale. JLL will stay on to oversee leasing. The sales price was not disclosed. Sitex has also purchased a 43,000-square-foot, multi-tenant warehouse located at 429-449 Schiller St. in Elizabeth. The property, which is 90 percent leased, comprises small units (ranging from 3,000 to 8,500 square feet) with a large trailer parking area. It is located near the Port of Newark/ Elizabeth and Newark’s Liberty International Airport. Sitex plans to improve the property by updating the building’s exterior and truck parking/loading areas. Bussel Realty’s Jordan Metz brokered the sale and has been retained by Sitex to oversee leasing. The sales price was not disclosed.

October 21, 2015

Industrial Mixed-Use New Jersey Northeast Retail

Cushman & Wakefield Arranges $18.5 Million Financing, Advises on JV Equity for New Jersey Portfolio

by Jaime Lackey October 21, 2015

CLARK, N.J. — Cushman & Wakefield has raised an $18.5 million senior mortgage loan and served as advisor to a joint venture between Denholtz Associates and MB1 Capital Partners for the acquisition of a mixed-use portfolio located in Clark. The portfolio is situated on 21-acres of infill retail and industrial improvements located just off exit 135 of the Garden State Parkway. The portfolio is currently 96.5 percent leased with L’Oreal serving as the anchor tenant. Washington Trust Co. provided the five-year financing. A Cushman & Wakefield Equity, Debt & Structured Finance team of John Alascio, John Spreitzer and Andre Hass served as exclusive advisors on this transaction.

October 21, 2015

California Retail Western

Pieology to Open at Rialto Marketplace in California

by Nellie Day October 21, 2015

RIALTO, CALIF. — Pieology is set to open a location at Rialto Marketplace, a new development anchored by Walmart in Rialto. Blindside 75, a multi-unit franchisee of Pieology, has signed a 10-year lease for 2,200 square feet at the center. Greg Giacopuzzi of NewMark Merrill Cos. represented the landlord, and Matt Adamczyk of Kennedy Wilson represented the tenant in the transaction.

October 21, 2015

Michigan Midwest

Friedman Brokers Sale of 1.2 Acres of Commercial Land in Suburban Detroit

by Christina Cannon October 21, 2015

COMMERCE TOWNSHIP, MICH. – Friedman Integrated Real Estate Solutions has arranged the sale of 1.2 acres of commercial land in Commerce Township for an undisclosed price. Haggerty Development Co. sold the land located on Loop Road in Commerce Township, approximately 35 miles northwest of Detroit, to T & M Investment LLC. T & M Investment plans to build a restaurant on the site. Phil Konopitski of Friedman represented the buyer in the transaction. Thomas Duke Realtors represented the seller.

October 21, 2015

Mississippi Retail Southeast

RCG Ventures Acquires Shopping Center in Tupelo for $18.1M

by John Nelson October 21, 2015

TUPELO, MISS. — RCG Ventures has purchased the 114,425-square-foot Kings Crossing, a shopping center anchored by Ross Dress for Less in Tupelo, for approximately $18.1 million. Located at 3980 N. Gloster St., the property is adjacent to the 700,000-square-foot Mall at Barnes Crossing. Kevin Reavey and Chris Decoufle of CBRE represented the unnamed seller in the transaction. Scott Tarbet represented RCG Ventures internally.

October 21, 2015

Michigan Midwest Multifamily Student Housing

Triad Arranges Sale of Block 36 near Michigan State University for $13.3M

by Christina Cannon October 20, 2015

EAST LANSING, MICH. — Triad Real Estate Partners has arranged the sale of Block 36, a student housing property located three miles north of the Michigan State University campus in East Lansing, for $13.3 million. The sales price of Block 36 equates to $30,716 per bed and a 6.3 percent capitalization rate. The 433-bed property was originally built in 2001 and underwent a renovation in 2013 that included the addition of an extensive amenity package. The buyer was a San Diego-based family investment trust that already owned several apartment properties in Michigan. The seller was a private ownership group based in San Francisco whose plan was to sell the asset following the renovation and full stabilization of the property.

October 20, 2015

Michigan Midwest Office

Friedman Brokers Sale of 142,295 SF Office Building in Southfield, Michigan

by Christina Cannon October 20, 2015

SOUTHFIELD, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of a 142,295-square-foot office building in Southfield, a northwestern suburb of Detroit, for an undisclosed price. Wulin Realty purchased the building known as Nine Mile Crossing from an undisclosed seller. Located at 17515 W. Nine Mile Road, the property consists of a 12-story, Class B office building and a two-story parking structure. Nine Mile Crossing was built in 1969 and was renovated in 2012. Features of the building include an on-site sundry shop, vending machines and a hair salon. The property is situated on 5.7 acres. Rich Deptula of Friedman represented both parties in the transaction. Friedman will continue to lease and manage the building for the new owners.

October 20, 2015

Newer Posts

Older Posts