more_sales_and_leases

Time Equities Inc. Buys 379,630 SF Shopping Center in Metro Charlotte

by John Nelson January 5, 2015

MONROE, N.C. — Time Equities Inc. (TEI) has purchased Monroe Crossing Shopping Center, a 379,630-square-foot shopping center located at 2107-2133 W. Roosevelt Blvd. in Monroe, 25 miles southeast of Charlotte. The property’s tenant roster includes Belk’s flagship store, JC Penney, Sears, Hibbett Sports, Shoe Carnival, Buffalo Wild Wings and Planet Fitness. Cushman & Wakefield | Thalhimer represented the seller, Madison Marquette, in the transaction. TEI was represented internally by Ami Ziff and Jonathan Kim.

January 5, 2015

Multifamily Texas

Connor Group Purchases Apartment Complex in Metro Dallas

by Haisten Willis December 29, 2014

ADDISON, TEXAS — The Connor Group has purchased Villages of Addison, a 264-unit, Class A apartment complex located in the north Dallas suburb of Addison. Unit amenities at the Villages of Addison include stainless steel appliances, hardwood flooring, granite kitchen counter tops and a full-size washer and dryer in each unit. Community amenities include a clubhouse with a business center and game lounge, two swimming pools, private cabanas, a 24-hour gym, sauna, outdoor kitchen and grill. The purchase of this property is Connor Group’s ninth and final property acquisition of 2014. The Connor Group owns and operates apartment communities in Atlanta, Austin, Charlotte, Chicago, Cincinnati, Columbus, Dallas, Dayton, Nashville and Raleigh-Durham.

December 29, 2014

Loans Michigan Midwest Retail

Bernard Financial Arranges $1.6M Loan for Retail Property in Bingham Farms, Mich.

by Danielle Everson December 29, 2014

BINGHAM FARMS, MICH. — Bernard Financial Group has arranged a $1.6 million loan for Bingham Retail, an 8,999-square-foot retail property in Bingham Farms. The property is located on an outlot of an 815,539-square-foot, five-building office park. Dave Dismondy of Bernard Financial originated the loan for the borrower, Bingham Retail LLC. The lender, Stancorp Mortgage Investors, LLC is an exclusive correspondent of Bernard Financial.

December 29, 2014

Midwest Retail Wisconsin

The Boulder Group Arranges $1.3M Sale of KinderCare Property

by Danielle Everson December 29, 2014

DE PERE, WIS. — The Boulder Group has arranged the $1.3 million sale of a single-tenant KinderCare property in De Pere, a suburb of Green Bay. The net-leased property is located at 1553 Arcadian Lane. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based real estate fund. A family office from the West Coast purchased the property. KinderCare has operated at this location since 1999 and recently elected to execute an early lease extension. KinderCare is a for-profit childcare provider operating more than 1,600 locations.

December 29, 2014

Retail Texas

Morris Capital Acquires Retail Center in Rio Grande Valley

by Haisten Willis December 26, 2014

BROWNSVILLE, TEXAS — Fort Worth-based Morris Capital Partners has acquired the Morrison Crossing retail center in Brownsville. The development is shadow-anchored by Home Depot, Academy Sports + Outdoors and Kohl’s, spans 96,713 square feet and is located on US 83/77. Morris Capital partnered with The Clower Co. of Corpus Christi on the acquisition. Morris Capital was founded in 2010 by Bill Morris and now owns 10 shopping centers with more than 1 million square feet in five states.

December 26, 2014

Retail Texas

Henry S. Miller Sells Shopping Center in Metro Dallas

by Haisten Willis December 26, 2014

GARLAND, TEXAS — Henry S. Miller Brokerage has sold off the Broadway Corners Shopping Center in Garland. The 13,719-square-foot shopping center was built in 2004 and is located at 5949 Broadway Blvd. near the intersection with Interstate 30. Henry S. Miller brought the property with a syndication of investors in 2005.

December 26, 2014

Arizona Industrial Western

Propak Logistics Leases Space at Estrella Business Park in Phoenix

by Nellie Day December 24, 2014

PHOENIX – Propak Logistics has leased 48,735 square feet of industrial space at Estrella Business Park in Phoenix. The space is located at 1010 S. 65th Ave. The new lease marks Propak’s entry into metropolitan Phoenix. It also brought the building to full occupancy. Propak was represented by CBRE’s Pat Feeney, Dan Calihan, Rusty Kennedy and Bob Pielsticker. The landlord, EJM Development Co., represented itself in the lease negotiation.

December 24, 2014

California Office Western

The Commons Office, Retail Complex in Pasadena Changes Hands

by Nellie Day December 24, 2014

PASADENA, CALIF. – The Commons, an 85,743-square-foot office and retail complex in Pasadena, has sold to a global investment management firm for an undisclosed sum. The complex is located at 140-146 South Lake Ave. It is occupied by tenants like Drybar, Soul Cycle, Lemonade, Green Street Café, The Counter, 18/8 and Seco New American. The buyer plans to further enhance value and hold the property long term. Bob Safai, Matt Case and Brad Schlaak of Madison Partners represented the seller, a joint venture between Arenda Capital Management and Arenda Capital Management, in this transaction.

December 24, 2014

Multifamily Texas

IPA Arranges Sale of Apartment Complex in North Dallas

by Haisten Willis December 23, 2014

DALLAS — Institutional Property Advisors, a division of Marcus & Millichap, has arranged the sale of Hunter’s Hill, a 436-unit apartment complex in north Dallas. Will Balthrope and Drew Kile of IPA represented the seller and procured the buyer. Hunter’s Hill is located at the intersection of Midway Road and Frankford Road in the Platinum Corridor area. Amenities include controlled access gates, a gym, indoor basketball and racquetball courts, two pools, a business center, clubhouse, billiards table and covered parking.

December 23, 2014

Office Texas

NAI Houston Brokers Sale of Two Office Properties in Houston

by Haisten Willis December 23, 2014

HOUSTON — NAI Houston represented American Spectrum in the sale of two office properties located at 800 and 888 W. Sam Houston Pkwy. Both buildings are two-story, multi-tenant properties totaling 88,292 square feet. The assets are located in Houston’s Westchase District near the intersection of Beltway 8 and Briar Forest. Doug Pack of NAI Houston represented the seller, American Spectrum. Logan Brown of Logan Brown Investments represented the buyer.

December 23, 2014

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