sales_and_leases

Lee & Associates Arranges Two Industrial Leases Totaling Approximately 100,000 SF in Elgin, Illinois

by Christina Cannon September 28, 2015

ELGIN, ILL. — Lee & Associates has arranged two industrial leases totaling nearly 100,000 square feet in Elgin, approximately 40 miles west of Chicago. Stockbridge Capital Group has leased 50,056 square feet of industrial space to Convenience Concepts Inc. The property is located at Northwest Corporate Park, 2300-2380 Galvin Drive. The lease brings the 219,000-square-foot building to 100 percent occupancy. John Sharpe and Steve Bass of Lee & Associates represented the landlord. John D’Orazio of Colliers International represented the tenant. Stockbridge Capital Group has leased 49,776 square feet of industrial space to PepsiCo Global Real Estate. The property is located at Northwest Business Park VI, 2790 Spectrum Drive. John Sharpe and Steve Bass of Lee & Associates represented the landlord. Ryan Bain of CBRE represented the tenant.

September 28, 2015

Loans Massachusetts Northeast Office

Colliers Arranges Sale, Financing for Office Center in Charlestown, Mass.

by Amy Works September 25, 2015

CHARLESTOWN, MASS. — Colliers International has arranged the sale of and secured financing for Bunker Hill Business Center in Charlestown. Located at 440 Rutherford Ave., the fully leased property offers 52,944 square feet of flex office space. TD Street LLC, an affiliate of Center Court Partners LLC, acquired the property for $14.7 million from New Canaan, Conn.-based Cambridge Hanover Inc. Colliers secured a $10.5 million fixed-rate acquisition loan for the buyer through LStar Capital Finance Inc., the credit affiliate of Lone Star Funds. Scott Dragos, Doug Jacoby, Tony Hayes and Tim Mulhall of Colliers represented the seller in the transaction. Kevin Phelan and Jeff Black led the Colliers debt placement team.

September 25, 2015

Seniors Housing South Carolina Southeast

ESI Arranges $153.9M Sale of 13 Agapé Senior Living Communities in South Carolina

by John Nelson September 25, 2015

CHICAGO — Evans Senior Investments (ESI), a Chicago-based investment banking firm, has arranged the sale of 13 Agapé Senior Living communities in South Carolina for $153.9 million. The portfolio includes 10 independent living and assisted living communities totaling 856 units, plus three skilled nursing facilities totaling 294 beds. The oldest building in the portfolio was constructed in 1990 and the smallest facility is 58 units. A private equity firm, the name of which was not released, purchased the portfolio at a cost of $156,424 per unit for the independent and assisted living communities, and $68,027 per bed for the skilled nursing facilities.

September 25, 2015

Colorado Multifamily Western

TruAmerica, Investcorp Buy Apartment Community in Denver for $71M

by Nellie Day September 25, 2015

DENVER — TruAmerica Multifamily and institutional capital partner Investcorp have acquired a 561-unit apartment home community in Denver for $71 million. The community is located in the Cherry Creek submarket. TruAmerica plans to complete improvements to the buildings’ exteriors and common areas. This plan was initially undertaken by the previous owner. The units will also receive multimillion-dollar renovations. Brian Eisendrath, Annie Rice and Brandon Smith of CBRE Capital Markets arranged the financing. CBRE’s David Potarf, Dan Woodward and Matt Barnett represented the unnamed seller.

September 25, 2015

Illinois Midwest Restaurant Retail

Boulder Group Brokers $1.9M Sale of Hooters in Illinois

by Christina Cannon September 25, 2015

ROCKFORD, ILL. — The Boulder Group has brokered the sale of a single-tenant net lease Hooters located at 6904 Argus Drive in Rockford, which is approximately 90 miles northwest of Chicago. The property is 4,700 square feet and sold for $1.9 million. Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the buyer and seller who are undisclosed. There are over five years remaining on the corporately guaranteed Hooters lease. The lease features no landlord responsibilities and 10 percent rental escalations every five years. The Boulder Group is a boutique investment real estate service firm specializing in single-tenant net lease properties.

September 25, 2015

California Multifamily Western

The Capri Apartments in Redwood City Sells for $25.7M

by Nellie Day September 24, 2015

REDWOOD CITY, CALIF. — The Capri Apartments, an 85-unit apartment building in Redwood City, has sold to an unnamed buyer for $25.7 million. The community is located at 1491 Hess Road, 441 Poplar Ave. and 403 Poplar Ave. Don Sung of Colliers and Larry Aikins of Terrace Associates executed the transaction.

September 24, 2015

California Multifamily Western

Orchard Adams Purchases Palisades Apartments Near USC for $12.6M

by Nellie Day September 24, 2015

LOS ANGELES — Orchard Adams LLC has purchased the 28-unit Palisades Apartments in Los Angeles for $12.6 million. The community is located at 1210 and 1226 W. Adams Blvd., near the University of Southern California (USC). It was built in 2002. Robert Ip of Avison Young represented Orchard Adams. CBRE represented the seller, Palisades USC LLC.

September 24, 2015

California Industrial Western

Cress Capital, PacVentures Acquire Industrial Property in Perris for $11.3M

by Nellie Day September 24, 2015

PERRIS, CALIF. — Cress Capital and partner PacVentures have acquired a 30-acre property in Perris that includes two industrial buildings for $11.3 million. The property is located at 3411 N. Perris Blvd. Both buildings are occupied by single tenants on long-term leases. The transaction also includes a 10-acre excess land parcel. HFF’s Wally Reid and Jeff Sause provided debt financing.

September 24, 2015

Georgia Retail Southeast

South Coast Commercial Purchases Metro Atlanta Shopping Center for $4.1M

by John Nelson September 24, 2015

SUWANEE, GA. — South Coast Commercial has purchased Laurel Springs Village, a 21,710-square-foot shopping center located at 3590 and 3592 Old Atlanta Road in Suwanee. The South Carolina-based investor acquired the fully occupied asset from Laurel Springs Holdings for $4.1 million. Built in 2004, the property is anchored by Titan Team Sports and leased to nine other tenants. Kevin Markwordt and Fred Victor of Transwestern represented the seller in the transaction.

September 24, 2015

Midwest Minnesota Office

Cushman & Wakefield/NorthMarq Brokers Law Office Lease of 81,000 SF in Minneapolis

by Christina Cannon September 24, 2015

MINNEAPOLIS — Cushman & Wakefield/NorthMarq has brokered a lease extension for Lindquist & Vennum LLP. The property is located at the IDS Center in Minneapolis, and the company has leased the space since it became available 43 years ago. Lindquist & Vennum, a law firm, plans to downsize and relocate its 300 attorneys and staff personel within the Minneapolis Landmark Office Tower. For the past 43 years, the company has occupied space on floors 40 through 44 that has totaled 120,000 square feet. The lease renewal is for 81,000 square feet on floors 18 through 21. The lease renewal is good through 2032. Paul Donovan, Brent Erickson and Jaclyn May of Cushman & Wakefield/Northmarq represented Lindquist. Brent Robertson, Jon Dahl and Sam McGuire of JLL represented the IDS Center. Greiner Construction built the property, and Yellow Dog Studio was the architect. The Minneapolis Landmark Office Tower was constructed in a zig-zag design that allows there to be 32 corner offices on each floor instead of the typical four.

September 24, 2015

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