sales_and_leases

CBRE Arranges Sale of Mixed-Use and Office Buildings in Ann Arbor, Michigan

by Kristin Harlow August 15, 2017

ANN ARBOR, MICH. — CBRE has arranged the sale of McKinley Towne Centre and The Offices at Liberty Square in Ann Arbor for an undisclosed price. McKinley Towne Centre is a 130,824-square-foot mixed-use building located at 401 E. Liberty St. The Offices at Liberty Square is a 59,381-square-foot office building located at 500 E. Washington St. The portfolio was nearly 99 percent occupied at the time of sale. Tenants include supply chain software company LLamasoft, TD Ameritrade, the University of Michigan, Bar Louie, AT&T and FedEx. Ann Arbor-based commercial real estate firm McKinley sold the assets to Hillside Investments. Anne Galbraith Kohn of CBRE represented McKinley in the transaction.

August 15, 2017

Illinois Midwest Office

Spaces Signs 27,110 SF Office Lease in Chicago

by Kristin Harlow August 15, 2017

CHICAGO — Spaces has signed a 27,110-square-foot office lease in Chicago’s Lincoln Park. The creative workspace company will occupy the second through fourth floors of the building, located at 1500 N. Halsted St. Spaces Lincoln Park is slated to open in early 2018 and will offer tenants a contemporary loft-style design with large windows. This will be the 14th location in North America for the Amsterdam-based company. Chad Schroedl of SVN | Chicago Commercial represented the landlord, Newcastle Limited, in the lease transaction. Bill Rogers and Kerry Gilar of JLL represented Spaces.

August 15, 2017

Michigan Midwest Retail

Sheldon Cleaners to Open 1,360 SF Location Near Grand Rapids, Michigan

by Kristin Harlow August 15, 2017

BYRON CENTER, MICH. — Sheldon Cleaners has signed a 62-month lease for a 1,360-square-foot location in Byron Center, about 13 miles south of Grand Rapids. The property is located at 8233 Byron Center Ave. Southwest. With locations in Grand Rapids, Holland and Kalamazoo, the environmentally friendly dry cleaner has been in business since 1949. Minor renovations of the space are being made, including adding a dressing room for tailoring services. Completion is slated for September of this year. Rod Alderink of NAI Wisinski represented the landlord, Dara Realty LLC, in the lease transaction.

August 15, 2017

Office Texas

Coldwell Banker Brokers Sale of 48,898 SF Office Building in Fort Worth

by Taylor Williams August 15, 2017

FORT WORTH, TEXAS — Coldwell Banker Commercial Advisors (CBCA) has brokered the sale of Atrium West, a 48,898-square-foot, Class B office building located at 8851 Camp Bowie West in Fort Worth. Theron Bryant and Joe Hamilton of CBCA represented the seller, Hangover Opportunity Fund, in the transaction. Greg Hoffman of Colliers represented the buyer, Aberfeldy Properties Inc. The building was 93 percent leased at the time of sale.

August 15, 2017

Office Texas

Oldham Goodwin Negotiates Sale of 19,888 SF Office Building in Metro San Antonio

by Taylor Williams August 15, 2017

CASTLE HILLS, TEXAS — Oldham Goodwin Group LLC has negotiated the sale of The Gallery, a 19,888-square-foot office building located in the San Antonio suburb of Castle Hills. The three-story property is situated on the east side of Northwest Military Highway, just north of Loop 410. Steve Monroe and Ben Berry of Oldham Goodwin represented the buyer, a San Antonio-based investment firm, in the transaction. Jonathan Haag and Guyla Sineni of JLL represented the seller.

August 15, 2017

Industrial Texas

ECR Secures 25,505 SF Industrial Lease in Austin

by Taylor Williams August 15, 2017

AUSTIN, TEXAS — Equitable Commercial Realty (ECR) has negotiated a 25,505-square-foot industrial lease at 5910 Techni Center Drive in Austin. Ryan Wilson and Matt Fain of ECR represented the undisclosed landlord in the lease negotiations. Davis Bass of HPI represented the tenant, Kasita Operations LLC, a producer of tiny, prefabricated homes.

August 15, 2017

Office Texas

Cintas Leases 22,622 SF of Office/Warehouse Space in Metro Dallas

by Taylor Williams August 15, 2017

GRAND PRAIRIE, TEXAS — Cintas Corp., a Cincinnati-based provider of uniforms and other customized products, has leased 22,622 square feet at Trinity 161 Trade Center, an office/warehouse property located at 3100 N. State Highway 161 in Grand Prairie. John Leinbaugh, Michael Stanzel and Patrick Embry of NAI Robert Lynn represented the undisclosed landlord in the lease negotiations.

August 15, 2017

Florida Multifamily Southeast

CBRE Arranges $49.5M Sale of Multifamily Property Near Orlando

by Camren Skelton August 15, 2017

KISSIMMEE, FLA. — CBRE has brokered the $49.5 million sale of Lake Tivoli Apartments, a 384-unit multifamily property located at 851 Lake Tivoli Blvd. in Kissimmee, roughly 22 miles south of Orlando. Shelton Granade, Luke Wickham and Justin Basquill of CBRE represented the seller, Lake Tivoli Apartments LLC. Newport News, Va.-based Chandler Residential acquired the asset. The property comprises 36 two- and three-story buildings. Community amenities include a lakeside sundeck, pool, tennis, racquetball and basketball courts, clubhouse, fitness center and a spa. Lake Tivoli Apartments was 97 percent occupied at the time of sale.

August 15, 2017

Georgia Healthcare Southeast

Cushman & Wakefield Arranges Lease Renewal, Expansion on Emory Saint Joseph’s Campus in Atlanta

by Camren Skelton August 15, 2017

ATLANTA — Cushman & Wakefield has secured a 58,558-square-foot lease renewal and 18,339-square-foot lease expansion with Resurgens Orthopaedics at Doctors Center I-III located on the Emory Saint Joseph’s Hospital campus in Atlanta. George Olmstead of Cushman & Wakefield represented the landlord, Lillibridge Heathcare Services, a wholly owned subsidiary of Ventas Inc., in the lease transaction. Michael Lipton and Andrew Walker of Colliers International represented Resurgens Orthopaedics. In addition to the lease expansion and renewal, Cushman & Wakefield arranged a 17,068-square-foot lease with an affiliated surgery center entity at Doctors Center. In conjunction with the transactions, Lillibridge has plans for a multimillion-dollar renovation of the healthcare property that will begin in the second half of the year. The landlord expects to complete the renovation by early 2019.

August 15, 2017

Northeast Office Pennsylvania

NKF Arranges $20.1M Sale of Two-Building Office Property in Philadelphia

by Amy Works August 15, 2017

PHILADELPHIA — Newmark Knight Frank (NKF) has arranged the sale of a two-building property located at 421 N. Seventh St. in Philadelphia. Arts & Crafts Holdings acquired the property from Callowhill Center Associates for $20.1 million. Situated on 2.4 acres, the property features 188,167 square feet and is the long-term home of The Electric Factory, an iconic 50-year-old concert promotion company. At the time of sale, the property was 38.2 percent occupied with small tenants and The Electric Factory. Mike Margolis, Dave Dolan, Dave Garonzik, Jeff Tertel and Jim Egan of NKF represented the seller in the transaction.

August 15, 2017

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