sales_and_leases

Signature Associates to Market 100,000 SF Office Building for Sale or Lease in Detroit

by Jonathan Mehall August 5, 2015

DETROIT — Alidade Capital has selected Signature Associates to market 1900 St. Antoine, a 100,000-square-foot, Class A office property in Detroit, for sale or lease. The building, which is adjacent to Ford Field, was built in 2005 and features ample covered parking with an on-site garage, flexible floor plans, an on-site security desk, modern common areas and high-end finishes. Building signage and corporate branding opportunities are also available. The central downtown Detroit location makes it walkable to amenities in the central business district and provides easy access to the I-75 and I-375 expressways. Garrett Keais and Jarrod Champine of Signature Associates are the listing brokers representing Alidade Capital, the building owner.

August 5, 2015

Retail Texas

The Woodmont Co. Arranges $6.3M Sale of Metro Dallas Retail Property

by Haisten Willis August 5, 2015

NORTH RICHLAND HILLS, TEXAS — The Woodmont Co. has completed the $6.3 million sale of North Hills Village, a 188,856-square-foot retail center located in North Richland Hills, to a private investor. Brad Cruickshank, Trip Green and Randy Bell of The Woodmont Co. represented the seller, a subsidiary of LNR Partners LLC, in the transaction. Built in 1988, the two-building property is located at 7520-7640 N.E. Loop 820 and is situated on 16.4 acres. It was 34 percent occupied at the time of sale with tenants including Cinemark Theaters, Mattress Firm, Subway and T-Mobile. North Hills Village is adjacent to City Pointe Center, a 74-acre mixed-use and municipal complex currently in development.

August 5, 2015

California Multifamily Western

Kennedy Wilson Buys Slate Creek at Johnson Ranch in Roseville for $100M

by Nellie Day August 5, 2015

ROSEVILLE, CALIF. — Kennedy Wilson has purchased Slate Creek at Johnson Ranch, a 612-unit multifamily community in Roseville, for $100 million. The community is located at 8800 Sierra College Blvd. The company and its equity partners invested an aggregate of $38.5 million of equity in the transaction. The group also assumed $63 million of debt as part of the off-market transaction. The seller was not named. Kennedy Wilson has acquired interests in 6,449 multifamily units in the Western U.S., year to date. Its global multifamily portfolio totals more than 26,000 units.

August 5, 2015

California Office Western

YouTube World Headquarters in San Bruno Changes Hands

by Nellie Day August 5, 2015

SAN BRUNO, CALIF. — A two-building office campus in the San Francisco Bay submarket of San Bruno has changed hands. The Class A campus serves as the world headquarters for YouTube. Neither the buyer, nor the price was disclosed. The campus is located at 900 and 1000 Cherry, within the Bayhill Office Park. It is situated directly adjacent to interstates 280 and 380. Both properties are fully leased to Google through 2022. They feature highly improved video/audio suites, high-end office finishes with creative spaces and conference rooms, and an “Immersion Room” that simulates a 360-degree video stream. The buildings also offer two full-service cafeterias, kitchen/pantry suites with lounge areas on each floor, a fitness center with lockers and showers, bike room with storage, and a multi-functional conference room for corporate events and executive retreats. HFF’s Steven Golubchik represented the seller, a fund managed by Cornerstone Real Estate Advisers.

August 5, 2015

New Jersey Northeast Retail

Partnership Buys 517,000 SF Ledgewood Mall in Roxbury, New Jersey

by Amy Works August 5, 2015

ROXBURY, N.J. — A joint venture between Advance Realty, DeBartolo Development and Invesco has acquired Ledgewood Mall in Roxbury for an undisclosed sum. Built in 1972 and situated on 46 acres, the three-building 517,000-square-foot property consists of a 445,000-square-foot enclosed mall, a 60,000-square-foot outbuilding and a 12,000-square-foot outbuilding. Current tenants include Walmart, The Sports Authority, Marshalls, Barnes & Noble, Ashley Furniture and Ruby Tuesday. Christopher Bellapianta of Advance Realty led the transaction on behalf of the joint venture. The name of the seller was not disclosed.

August 5, 2015

Arizona Office Western

Griffin Capital Buys Aetna Life Insurance Building in Tucson

by Nellie Day August 5, 2015

TUCSON, ARIZ. — Griffin Capital Corp. has acquired the 100,273-square-foot Aetna Life Insurance Co. building in Tucson for an undisclosed sum. The building is fully leased to the life insurance company. Aetna signed a new 10-year lease at the property as part of the sale-leaseback. The terms include an annual base rental rate increase of 3 percent with no termination or contraction options. The company has resided at this space since it was constructed as a build-to-suit in 2001. Cushman & Wakefield’s Boston office, along with Cushman & Wakefield’s Tucson affiliate, Picor Commercial Real Estate Services, represented Aenta in the deal. Griffin Capital Essential Asset REIT II is the official purchaser of the asset.

August 5, 2015

Colorado Retail Western

Pine Tree Commercial Buys Arvada Marketplace-Connection Near Denver

by Nellie Day August 5, 2015

DENVER — Pine Tree Commercial Realty has acquired Arvada Marketplace-Connection, a 367,510-square-foot shopping center in the Denver submarket of Arvada, for $54.9 million. The center is located at the intersection of Wadsworth Boulevard and interstates 70 and 76. Arvada Marketplace-Connection was built in 1987. A 142,491-square-foot Sam’s Club anchors the center. Other notable tenants include Sports Authority, Dollar Tree and Youfit health club. CBRE’s Brad Lyons executed the transaction. The seller was RPAI. Bank of America provided the financing.

August 5, 2015

Midwest Minnesota Office

Colliers International Brokers Sale of River Park Plaza in St. Paul, Minn. to Cohen Equities

by Jonathan Mehall August 4, 2015

ST. PAUL, MINN. — Colliers International has brokered the sale of the River Park Plaza office building in St. Paul to Cohen Equities, a New-York based real estate firm. Cohen Equities acquired the 343,000-square-foot building at auction. The building sale closed on Friday, July 24. The property is located at 10 River Park Plaza along the Mississippi River. Comcast’s regional office is a main tenant of River Park. Bob Pounds of Colliers’ Minneapolis-St. Paul office represented LNR Property LLC, the seller of the building. In addition to managing the leasing for the building, Colliers has also been selected by Cohen Equities to manage the property. According to the Minneapolis/St. Paul Business Journal, the final bidding price on 10 River Park Plaza before the time of sale was $20.1 million

August 4, 2015

Industrial Midwest Wisconsin

Joint Real Estate Fund Acquires 114,000 SF Warehouse Building in Wauwatosa, Wis.

by Jonathan Mehall August 4, 2015

WAUWATOSA, WIS. — A joint real estate fund formed by Innovative Capital Advisors (ICA) and HSA Commercial Real Estate has closed on the acquisition of the 114,000-square-foot Wauwatosa Business Plaza. The industrial building is located at 3031 N. 114 St. in Wauwatosa, seven miles west of Milwaukee. Terms of the acquisition were not disclosed. The industrial plaza shares a lighted intersection with The Mayfair Collection, a 270,000-square-foot retail shopping center. The plaza is currently 50 percent occupied by warehousing tenants including a Habitat for Humanity ReStore donation center and resale shop. ICA and HSA do not have any immediate redevelopment plans for the property. James Barry, Kevin Barry and David Barry of DTZ Barry represented the undisclosed seller in the transaction.

August 4, 2015

Illinois Midwest Retail

Quantum Real Estate Advisors brokers sale of a 47,158 SF shopping center in Lansing, Ill.

by Jonathan Mehall August 4, 2015

LANSING, ILL. — Quantum Real Estate Advisors Inc. has brokered the sale of a 47,158-square-foot multi-tenant retail center for $2.9 million located at 17030 S. Torrence Ave. in Lansing, about 27 miles south of Chicago. A Dollar General anchors the property. The retail center was 75 percent occupied at the time of sale. A local real estate investor based in Schaumburg, Ill., sold the property. The buyer was a private real estate investor based in Milwaukee. Chad Firsel and Daniel Waszak of Quantum were the sole brokers in the transaction.

August 4, 2015

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