sales_and_leases

NAI Arranges Purchase of 60,000 SF Office Property in Grand Rapids

by Christina Cannon January 19, 2016

GRAND RAPIDS, MICH. — NAI Wisinski of West Michigan represented Applied Imaging in the acquisition of a 60,000-square-foot office building in Grand Rapids. Applied Imaging will move its headquarters to the facility located at 5555 Glenwood Hills Parkway SE. Applied Imaging sells and services copiers, printers, document storage and retrieval products and provides network services and software solutions. The company currently occupies 25,000 square feet at 5282 E. Paris Ave. SE. Applied Imaging has occupied its current facility since 1999 and expects to move to the new location this summer. Stu Kingma and Jim Badaluco of NAI Wisinski of West Michigan represented Applied Imaging in the transaction. The new location will include a customer loyalty center, showrooms and service dispatch.

January 19, 2016

Healthcare Illinois Midwest

Marcus & Millichap Brokers Sale of 48,225 SF Medical Property in Rockford, Illinois

by Christina Cannon January 19, 2016

ROCKFORD, ILL. — Marcus & Millichap has brokered the sale of a property net leased to OSF Healthcare | Cardiovascular Institute in Rockford. The 48,225-square-foot asset sold for an undisclosed price. A joint venture fund managed by MBRE Healthcare purchased the facility located at 444 Roxbury Road. The building, which was constructed in 2007, is fully leased to OSF HealthCare System. Gino Lollio and Scott Niedergang of Marcus & Millichap listed the property on behalf of the seller. The duo also procured the buyer.

January 19, 2016

Illinois Midwest Retail

Mid-America Brokers $18.2M Sale of Retail Property in Chicago Suburb

by Christina Cannon January 18, 2016

OAK BROOK, ILL. Mid-America Real Estate Corp. has brokered the sale of a 67,143-square-foot retail property in Oak Brook, approximately 20 miles west of Chicago. Newport Capital Partners acquired The Oaks of Oak Brook on behalf of Newport Fund II for $18.2 million. The retail property is located at the intersection of Kingery Highway and 16th Street and features tenants such as Panera Bread, Atheltico, Wells Fargo and Sleepy’s. Joe Girardi and Ben Wineman of Mid-America represented the seller in the transaction, a joint venture between DLC Management and Hutensky Capital Partners.

January 18, 2016

Illinois Midwest Retail

Baum Realty Brokers $14.6M Sale of Retail Portfolio in Chicago

by Christina Cannon January 18, 2016

CHICAGO — Baum Realty Group LLC has brokered the sale of The Armitage Collection in Chicago for $14.6 million. The Armitage Collection is a 32,604-square-foot retail portfolio that is located at 1123 – 1133 W. Armitage Ave. The portfolio is 100 percent leased to five tenants and consists of four, two-story buildings. Greg Dietz and Danny Spitz of Baum Realty represented the private seller in the transaction. The buyer was undisclosed.

January 18, 2016

Industrial Midwest Ohio

NGKF Arranges 1 MSF Industrial Lease in Columbus Suburb

by Christina Cannon January 18, 2016

GROVEPORT, OHIO — Newmark Grubb Knight Frank (NGKF) has arranged a 1 million-square-foot lease for an industrial facility located in Groveport, a southeastern suburb of Columbus. Saddle Creek Logistics Services will occupy the newly completed building located at 6606 Pontius Road in February, which is inside the Groveport Industrial Park. Benton Benalcazar and Ladson Montgomery of NGKF represented Saddle Creek, which signed a long-term lease for the warehouse and distribution facility. The property features 36-foot clear heights, ample car and trailer parking, a cross-dock warehouse, 100 dock positions, fours drive-in doors and an ESFR sprinkler system. The lease also features a 15-year, 100 percent real estate tax abatement.

January 18, 2016

Colorado Multifamily Seniors Housing Western

Arcapita, MorningStar Acquire Three Seniors Housing Communities in Colorado for $85M

by Nellie Day January 18, 2016

DENVER and COLORADO SPRINGS, COLO. — A joint venture of Arcapita, a global investment management firm, and MorningStar Senior Living, an owner/operator based in Denver, has acquired a three-community seniors housing portfolio in Denver and Colorado Springs for $85 million. The portfolio totals 196 units of assisted living and memory care. The communities were built in 2013 and 2014. The names of the communities were not disclosed. MorningStar will operate the communities. Arcapita, which is based in the small middle-eastern island country of Bahrain, plans on many more U.S. seniors housing acquisitions in the near future. The investment firm previously acquired, managed and sold a $1.5 billion seniors housing portfolio in the U.S. and U.K. Colorado was specifically targeted because its seniors population is projected to grow at twice the national average over the next five years, according to Martin Tan, Arcapita’s chief investment officer.

January 18, 2016

Colorado Retail Western

Village at the Peaks in Colorado Adds Four New Retailers

by Nellie Day January 18, 2016

LONGMONT, COLO. — Village at the Peaks, a national parks-themed shopping center located on the grounds of the former Twin Peaks Mall in Longmont, has added four new tenants. Newly signed retailers include Boulder, Colorado-based Ozo Coffee Co., Mathnasium, The Sleep Number and Brain Balance Achievement Center. The property is currently over 85 percent leased to a total of 29 retailers including Whole Foods Market, Sam’s Club and Regal Cinemas.

January 18, 2016

Multifamily Texas

ARA Newmark Arranges Sale of Calais at Courtlandt Square in Houston

by Haisten Willis January 18, 2016

HOUSTON — ARA Newmark has arranged the sale of Calais at Courtlandt Square, a 356-unit, Class A property in Houston’s Midtown area. ARA Newmark’s David Mitchell represented the seller, Internacional Realty, in the sale to Venterra Living, which acquired the property for an undisclosed price. Calais at Courtlandt Square was 95 percent occupied at the time of the sale. Surrounding the apartments at 210 Louisiana St. are grocery, retail, nightlife spots and restaurants such as Reef, T’afia and Brennan’s of Houston. Based in San Antonio, Internacional Realty spans a group of companies whose disciplines include acquisitions and development, management and investment. Venterra specializes in the identification, finance, acquisition and management of multifamily communities in the Southern region.

January 18, 2016

Illinois Midwest Retail

Lee & Associates Brokers Sale of 16,803 SF Retail Property in Mundelein, Illinois

by Christina Cannon January 15, 2016

MUNDELEIN, ILL. – Lee & Associates has brokered the sale of a 16,803-square-foot neighborhood retail center for an undisclosed price. Inland Real Estate Corp. sold the property located at 1460-1492 Townline Road in Mundelein, approximately 40 miles northwest of Chicago to an undisclosed private investor. Mundelein Plaza, built in 1989, is a 100 percent occupied center, which includes tenants such as Stone Habitat, Mundelein Polish Deli and Posterworks Gallery & Frame. The plaza is an outparcel to The Great Escape, a retailer of home leisure products. Rick Scardino and Edward Winslow of Lee & Associates represented the seller in the transaction.

January 15, 2016

Multifamily Texas

Colliers International Arranges Sale of Villas at Helen of Troy in El Paso

by Haisten Willis January 15, 2016

EL PASO, TEXAS — Clear Sky EBH has purchased the 108-unit Villas at Helen of Troy apartments located at 1325 Northwestern Drive in El Paso. Villas at Helen of Troy Partners LP was the seller. Bill Hahn, Jeff Sherman and Trevor Koskovich of Colliers International’s Phoenix office brokered the transaction. Maricopa County records show the buyer acquired the property with a new loan arranged by Walker & Dunlop’s Phoenix office. The complex was built in 2013.

January 15, 2016

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