sales_and_leases

JLL Brokers Lease of 321,627 SF Industrial Property in Indianapolis Suburb

by Christina Cannon September 24, 2015

PLAINFIELD, IND. — JLL has brokered the lease of 321,627 square feet in the Indianapolis market for OHL, one of the largest 3PL companies in the world. The property is located at 1251 S. Perry Road in Plainfield, which is 15 miles outside of Indianapolis. The new lease brings OHL’s footprint in that market to more than 3 million square feet. Steve Schwegman and Matt Dickerson of JLL represented the landlord, KBS Realty Advisors. Jess Andrews, Andrea Morris and Steve Schegman of JLL, along with ProVenture and CBRE, represented OHL. The building features include a “cross dock” layout, 36-foot clear height, a climate-controlled warehouse, secured truck courts and abundant parking. Ingram Micro formerly leased the building.

September 24, 2015

California Multifamily Western

Pacific Eagle Buys Villa Malibu Luxury Apartments for $62M

by Nellie Day September 23, 2015

LOS ANGELES — Pacific Eagle has purchased the 68-unit Villa Malibu luxury apartments for $62 million. The community is located at 6487 Cavalleri Road in the Los Angeles submarket of Malibu. Villa Malibu was originally built in 1993 and renovated in 2007. It currently operates as a rental property, though the community is entitled for residential condominiums. The seller was the Carlyle Group. Bob Safai, Darin Beebower, Brad Schlaak and Matt Case of Madison Partners executed the transaction.

September 23, 2015

California Hospitality Western

Chatham Lodging Trust Buys Hilton Garden Inn Marina del Rey

by Nellie Day September 23, 2015

LOS ANGELES — Chatham Lodging Trust has purchased the 134-room Hilton Garden Inn Marina del Rey for $44.5 million. The hotel is located at 4200 Admiralty Way in the Los Angeles submarket of Marina del Rey. The property was converted from an independent hotel in June 2013 after an extensive renovation. The new owner says it will not need to make a major capital investment until 2020. The hotel includes the Marina Bar & Grill; two meeting venues and rooms; suites and loft-style casitas with private patios; and an underground parking garage that serves hotel guests and local visitors. Chatham funded the purchase through the assumption of a $22.6 million loan that carries an interest rate of 4.68 percent and matures in July 2024. The balance was financed with available cash and borrowings on the company’s revolving credit facility. The hotel is subject to a long-term ground lease that matures in December 2067. Island Hospitality Management will manage the hotel.

September 23, 2015

California Retail Western

Marcus & Millichap Arranges Sale of Junction Route 66 Plaza for $7.3M

by Nellie Day September 23, 2015

UPLAND, CALIF. — Marcus & Millichap has arranged the $7.3 million sale of Junction Route 66 Plaza, an 18,297-square-foot shopping center located in Upland. Josh Rey, Pablo Rodriguez and Richard Vincent of Marcus & Millichap worked on behalf of the seller, a personal trust, and Edward Kim of Realtyland Co. Inc. secured the undisclosed buyer in the transaction. Tenants at the center include Jiffy Lube, Popeye’s Chicken and Carl’s Jr., occupying the outparcel.

September 23, 2015

Illinois Industrial Midwest

Colliers Brokers Acquisition of 686,320 SF of Industrial Properties Near Chicago

by Christina Cannon September 23, 2015

BOLINGBROOK, Ill. — Colliers International has brokered the acquisition of two properties in Bolingbrook, which is 30 miles southwest of Chicago. Prologis bought the properties located at 800 and 850 S. Veterans Parkway from International Airport Centers for an undisclosed price. The properties are located within Remington Lakes Business Park. Colliers International represented both the buyer and seller in the acquisition and has also been hired by Prologis to lease the properties. 800 S. Veterans Parkway is a 325,144-square-foot industrial facility constructed in 1999 that is situated on 16 acres. It features nearly 25,000 square feet of office space, 291 parking spaces and 46 docks. The adjacent property, 850 S. Veterans Parkway, is a 361,176-square-foot facility constructed in 1997 that is situated on 32 acres. It features 30-foot ceiling height, ESFR sprinklers, 37 dock positions and three drive-in doors. Both properties were vacant at the time of sale.

September 23, 2015

Illinois Midwest

Cushman & Wakefield Arranges Lease of 154,000 SF Property Near Chicago

by Christina Cannon September 23, 2015

CAROL STREAM, Ill. — Cushman & Wakefield has arranged the lease of a 154,000-square-foot property in Carol Stream, approximately 30 miles west of Chicago. GELS Logistics Inc., also known as 360zebra, leased the property located at 430 Kimberly Drive. Duke Realty owns and manages the property. Jason West, Sean Henrick and Michael Magliano of Cushman & Wakefield represented 360zebra. Brian Colson of NAI Hiffman represented Duke Realty. 360zebra is an international logistics group.

September 23, 2015

Kentucky Retail Southeast

BC Wood Properties Buys Three Kroger-Anchored Shopping Centers for $30.4M

by John Nelson September 23, 2015

LEXINGTON, KY. — BC Wood Properties has purchased three Kroger-anchored shopping centers totaling 290,000 square feet for a combined $30.4 million. The shopping centers include Merchants Crossing in Jackson, Mich.; Shoppes of Hope Valley in Durham, N.C.; and Ridgewood Farm in Salem, Va. The Lexington-based company purchased the assets from a single seller via BCW Strategic Alliance Fund LP, the company’s second private equity fund.

September 23, 2015

Mixed-Use Multifamily New York Northeast Retail

Eastern Consolidated Brokers $31M Sale of SoHo Property

by Amy Works September 22, 2015

NEW YORK CITY — Eastern Consolidated has brokered the sale of a mixed-use, elevator building, located at 49 Greene St. in SoHo. The six-story property sold for $31 million, or $1,240 per square foot. The 25,000-square-foot building features seven apartment units and a 5,500-square-foot vacant retail space. Peter Hauspurg of Eastern Consolidated represented the seller, Les Pieds Nickle’s Inc., while Deborah Gutoff of Eastern and Robert Dankner of Prime Manhattan Residential represented the buyer, EMP Capital, in the transaction.

September 22, 2015

Indiana Midwest

Transwestern Arranges Sale-Leaseback of 24,440 SF Educational Building Near Chicago for $3.5M

by Christina Cannon September 22, 2015

HAMMOND, IND. — Transwestern has arranged the sale-leaseback of the Kaplan College building in Hammond, which is approximately 30 miles from Chicago. The property is 24,440 square feet and was sold to an undisclosed private investor for $3.5 million. Education Corporation of America (ECA) sold the facility which is located at 7833 Indianapolis Blvd. Marc Imrem and Andrew Watson of Transwestern represented the seller. ECA operates a platform of schools in the post-secondary education sector. Transwestern is a privately held real estate firm that specializes in agency leasing, management, tenant advisory, capital markets, research and sustainability services.

September 22, 2015

Michigan Midwest Retail

Landmark Investment Sales Brokers $6.8M Sale of Former Retail Space in Michigan

by Christina Cannon September 22, 2015

ROCHESTER HILLS, MICH. — Landmark Investment Sales has brokered the sale of a 13-acre former Kmart. The property is 121,000 square feet and sold for $6.8 million. The space is located at the intersection of Rochester Road and Avon Road in Rochester Hills, which is approximately 30 miles from Detroit.

September 22, 2015

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