sales_and_leases

Core5 Industrial Partners Acquires Site in Hutchins, Texas, for 754,897 SF Industrial Facility

by Amy Works January 13, 2017

HUTCHINS, TEXAS — Core5 Industrial Partners has acquired two adjacent land sites totaling 41.5 acres at 1200 W. Wintergreen Road in Hutchins. The buyer plans to construct a speculative 754,897-square-foot distribution and warehouse facility on the site. The location provides convenient access to interstates 45, 20, 30 and 35E. John Leinbaugh and Matt Elliott of NAI Robert Lynn, along with Brent Wicker and Randy Church of Wicker & Associates, represented the buyer in the deal. The name of the seller and acquisition price were not released.

January 13, 2017

LNR Property Sells 450,000 SF Office Tower in Downtown Newark

by Amy Works January 13, 2017

NEWARK, N.J. — LNR Property, a subsidiary of Starwood Property Trust Inc., has completed the sale of 33 Washington Street, an iconic office tower located in downtown Newark. Berger Organization acquired the 450,000-square-foot property for an undisclosed price. Situated on 1.6 acres, the 18-story property features a fitness center, shared conference rooms, on-site parking, a lobby and views of the Manhattan skyline. Audible and DHL, among other tenants, occupy the multi-tenant building. Jose Cruz, Kevin O’Hearn, Stephen Simonelli and Michael Oliver of HFF represented the seller in the deal.

January 13, 2017

Multifamily Texas

The Kislak Organization Buys 208-Unit Apartment Complex in Dallas

by Amy Works January 12, 2017

DALLAS — Miami Lakes, Fla.-based The Kislak Organization has acquired Routh Street Flats, an apartment complex located at 3033 Routh St. in Dallas. Alamo Manhattan sold the 208-unit property for an undisclosed sum. Built in 2015, the property features 149 one- and two-bedroom layouts, a gated parking garage, rooftop terrace, infinity pool, fitness center, business center, bike repair station, pet park, resident lounge, fire pits and picnic areas. Moran & Co. Southwest represented the seller. Team Mozer with George Smith Partners arranged the acquisition financing, which was provided by Connecticut General Life Insurance Co. Kislak has selected Cottonwood Residential to manage Routh Street Flats’ day-to-day operations.

January 12, 2017

District of Columbia Office Southeast

Carr Properties Buys Class A Office Building in D.C. from Shorenstein Properties for $150M

by John Nelson January 12, 2017

WASHINGTON, D.C. — Carr Properties has acquired 1875 K Street, a 99 percent-leased, 190,345-square-foot office building in Washington, D.C.’s central business district. The company purchased the Class A building from Shorenstein Properties. The sales price was undisclosed, but Washington Business Journal reports that Carr Properties purchased the 12-story building for $150 million. Completed in 2002, 1875 K Street is located at the corner of 19th and K streets and is anchored by tenants including Willkie Farr & Gallagher LLP, WeWork, Stroock & Stroock & Lavan LLP and Shipman & Goodwin LLP. The building features 14,000- to 17,000-square-foot floorplates, ceiling heights exceeding 9 feet, an enclosed penthouse with an adjoining roof terrace and a 4,000-square-foot fitness center. Carr Properties will manage property management and leasing services. Eastdil Secured’s Washington office represented Shorenstein Properties in the transaction.

January 12, 2017

Illinois Midwest Multifamily

Kiser Group Arranges $15.3M Sale of Multifamily Portfolio in Chicago

by Kristin Harlow January 12, 2017

CHICAGO — Kiser Group has brokered the sale of a multifamily portfolio in Chicago’s Edgewater neighborhood for $15.3 million. The portfolio consists of three apartment buildings totaling 109 units. The vintage buildings are located at at 6100 N. Winthrop, 6101 N. Winthrop and 6110 N. Winthrop. Sal Becovic of Becovic Properties was the buyer. Rae Ann and Bob Cecrle of B&R Developments were the sellers. Lee Kiser, Michael Feldstein, Luke Lesniewski and Steven Haen of Kiser Group brokered the transaction.

January 12, 2017

Midwest North Dakota Retail

Mid-America Brokers Sale of 114,102 SF Retail Center in Bismarck, North Dakota

by Kristin Harlow January 12, 2017

BISMARCK, N.D. — Mid-America Real Estate Corp. has brokered the sale of Pinehurst Square East in Bismarck. The sales price was not disclosed. The 114,102-square-foot shopping center is located at the northeast quadrant of Interstate 94 and Tyler Parkway. Tenants include TJ Maxx, Old Navy and Shoe Carnival. Fargo, N.D.-based Dakota REIT purchased the property. Joe Girardi of Mid-America and Jill Dumeland of Dumelands Commercial Real Estate brokered the transaction on behalf of the undisclosed seller.

January 12, 2017

Illinois Industrial Midwest

Conor Commercial Finalizes Tenants at New Industrial Business Park in Bolingbrook, Illinois

by Kristin Harlow January 12, 2017

BOLINGBROOK, ILL. — Black Horse Carriers and Trane U.S. Inc. have signed leases at Conor Commercial’s new Fountain Square Commerce Center. The 70-acre industrial business park is located at Remington Boulevard and South Schmidt Road in Bolingbrook, a suburb of Chicago. Black Horse Carriers, a provider of dedicated fleet and private fleet replacement services for companies that require specialized trucks and equipment, has leased all 109,354 square feet in Building 1. Trane U.S., which specializes in air-conditioning systems, has leased 44,179 square feet within Building 3. The building totals 162,394 square feet. George Pappas of Hartford Associates represented Black Horse Carriers in the lease transaction, while Jim Cummings and Brian Carroll of Newmark Grubb Knight Frank and Jim Estus and David Bercu of Colliers International represented the owner. Mike Magliano of Cushman & Wakefield represented Trane U.S., while Bercu and Estus represented Conor Commercial. McShane Construction Co. and Ware Malcomb, the original design/build team for the industrial business park, will complete the interior build-outs on behalf of both tenants.

January 12, 2017

Industrial Office Washington Western

Boeing Employee Credit Union Purchases Buildings at Gateway Corporate Center in Tukwila

by Nellie Day January 12, 2017

TUKWILA, WASH. — Boeing Employee Credit Union (BECU) has purchased eight buildings at the Gateway Corporate Center office and industrial park in Tukwila for an undisclosed sum. The 11-building center is situated at a junction between State Route 599 and Interstate 5 in the Seattle submarket. BECU previously owned two buildings at Gateway Corporate Center. The credit union built its corporate headquarters at the center in 1990. The new purchase has allowed BECU to increase its holdings in the office park to 589,000 square feet. Bill Frame and Richard Davidson of Kidder Mathews represented BECU. The firm’s Andy Miller and Matt Wood also represented the seller, a global investment manager, in this transaction.

January 12, 2017

Multifamily Washington Western

Apartment Building Near Reno Sells for $15.5M

by Nellie Day January 12, 2017

SPARKS, NEV. — A San Francisco Bay Area-based private investor has acquired a 230-unit apartment building in the Reno submarket of Sparks for $15.5 million. The community, known as 1100 Place Apartments, is located at 1100 15th St. The asset underwent major renovations in 2015 that included new siding, exterior painting, enclosed carports, new asphalt, new landings, landscaping and signage. The community is now 96 percent occupied. Kenneth Blomsterberg, Ryan Rife and Benjamin Nelson of Marcus & Millichap represented both the buyer and seller, a special servicer, in this transaction.

January 12, 2017

California Industrial Western

RAF Pacifica Buys San Diego Manufacturing, Distribution Center for $3.7M

by Nellie Day January 12, 2017

SAN DIEGO — RAF Pacifica Group has purchased a 31,246-square-foot manufacturing and distribution center in the San Diego submarket of San Marcos for $3.7 million. The center is located at 1880 Diamond St. Known as La Costa Meadows, the facility features office space and HVAC production areas, as well as dock- and grade-level loading and 26-foot-clear heights. Isaac Little, Marko Dragovic and Chuck Hardy of Lee & Associates represented both the buyer and the seller, DonMar LLC, in this transaction.

January 12, 2017

Newer Posts

Older Posts