sales_and_leases

Marcus & Millichap Brokers Sale of 11,200 SF Net-Leased Medical Center in Addison, Ill.

by Jonathan Mehall July 30, 2015

ADDISON, ILL. — Marcus & Millichap has brokered the sale of Alexian Brothers Health System, an 11,200-square-foot, net-leased medical center located at 1339 W. Lake St. in Addison, approximately 22 miles west of Chicago. The asset sold for $3 million. The medical center is open 24 hours and is a full-service facility providing immediate medical care, diagnostic imaging and an array of other services. The facility includes a large assortment of imaging equipment. Sean Sharko, Valerie Cook and Austin Weisenbeck of Marcus & Millichap’s Oakbrook office marketed the property on behalf of the seller, a limited liability company. Sharko and Weisenbeck also represented the buyer, a limited liability company.

July 30, 2015

Illinois Midwest Office

Bradford Allen Arranges Six Lease Deals at 520 W. Erie in Chicago

by Jonathan Mehall July 30, 2015

CHICAGO — Bradford Allen has arranged six lease transactions at 520 W. Erie St., a 45,000-square-foot brick and timber loft building in Chicago’s River North submarket. Owner Gamla Cedron Group hired Bradford Allen as the leasing agent for the property in late 2014. Since then the brokerage firm has secured 17,959 square feet of leases, bringing the building’s occupancy to 87 percent. Tenants of the River North property include SFP Commercial Real Estate, Stepbrand Enterprises, J.S. Graphics Inc. and Doors for Builders. The building features high ceilings, large windows and customizable suites and is located across from a park. Several shops, restaurants and public transportation options are nearby. Two suites, one totaling 2,968 square feet and the other 2,800 square feet, remain available. Craig Nadborne and John Skalla are the leasing agents on behalf of Bradford Allen.

July 30, 2015

Madison Plaza Huntsville Haverty's Furniture

Alabama Retail Southeast Tennessee

RCG Ventures Acquires Two Shopping Centers in Tennessee, Alabama

by John Nelson July 30, 2015

JACKSON, TENN. AND HUNTSVILLE, ALA. — RCG Ventures Fund III has purchased West Towne Commons, a 168,210-square-foot shopping center in Jackson, and Madison Plaza, a 99,108-square-foot center in Huntstville, for an undisclosed price. Located at the intersection of Highway 45 and Oil Well Road, the West Towne Commons’ tenant roster includes T.J. Maxx, Stein Mart, OfficeMax and Petco. Target is also a tenant but was not involved in the transaction. RCG Ventures was represented internally by Jeff Miller, and Johnny Lamberson and Terry Radford of CBRE represented the seller. Located across from Madison Square Mall at Old Monrovia Road and University Drive, Madison Plaza is anchored by Haverty’s and Mission Thrift Store. RCG Ventures was represented internally by Scott Tarbet in the transaction, and Margaret Caldwell of JLL represented the seller.

July 30, 2015

California Multifamily Western

Praedium Buys The Vineyards at Paseo Del Sol Apartments in Temecula for $69.6M

by Nellie Day July 29, 2015

TEMECULA, CALIF. — The Praedium Group has acquired The Vineyards at Paseo Del Sol, a 288-unit apartment community in Temecula, for $69.6 million. The community is located at 31901 Campanula Way. The property was built in 2014. Paseo Del Sol is the only LEED Gold-certified apartment community in Temecula. It is currently 87 percent leased. CBRE’s Curtis Palmer, Peter Sherman and Paul Runkle represented the seller, the Dinerstein Companies. Brian Eisendrath and Annie Rice of CBRE Capital Markets’ Debt & Structured Finance team secured $43.3 million in financing for the acquisition.

July 29, 2015

Multifamily Nevada Western

Security Properties Acquires Verona Apartment Homes Near Las Vegas for $40M

by Nellie Day July 29, 2015

LAS VEGAS — Security Properties has purchased the 275-unit Verona Apartment Homes in the Las Vegas submarket of Henderson for $40 million. The community is located at 6765 Tulip Falls Drive. Security Properties-affiliate Madrona Ridge Residential will manage the Class A asset, which was built in 2007. Verona was purchased through Security’s Multifamily Fund II. It is the fund’s second purchase within the Las Vegas market.

July 29, 2015

California Office Western

Cruzan Buys Lakehills Corporate Park in Laguna Hills for $40M

by Nellie Day July 29, 2015

LAGUNA HILLS, CALIF. — Cruzan has purchased Lakehills Corporate Park, a 223,467-square-foot office campus in Laguna Hills, for $40 million. The park is located at 23332-23422 Mill Creek Drive and 24411-24461 Ridge Route Drive. This is Cruzan’s first Orange County purchase. The company will redevelop Lakehills into a modern office campus. CBRE’s Kevin Shannon, Paul Jones, Bob Smith and Blake Bokosky represented the seller, AEW Capital Management. AEW sold the property on behalf of one of its separate account clients.

July 29, 2015

California Multifamily Restaurant Retail Western

William Penn Building in San Diego Sells for $10.2M

by Nellie Day July 29, 2015

SAN DIEGO — An affiliate of Maxxam Enterprises has purchased the William Penn Building, a mixed-use property in downtown San Diego’s Gaslamp District, for $10.2 million. The building is located on the corner of 5th Avenue and F Street. It was built in 1913. The property contains 18 residential units and 10,795 square feet of commercial space, with Maloney’s Tavern as the anchor tenant. The building is designated as historical on the San Diego Register and the National Register of Historic Places. CBRE’s Jim Neil, Eric Comer and Merrick Matricardi represented the seller, Penn LLC.

July 29, 2015

Arizona Retail Western

DCL Purchases Arrowhead Lakes Marketplace in Glendale for $6M

by Nellie Day July 29, 2015

GLENDALE, ARIZ. — DCL Investments LLC has acquired Arrowhead Lakes Marketplace, a 22,280-square-foot retail center in Glendale, for $6 million. The center is located at 20329 North 59th Ave. It is 92 percent leased. Arrowhead Lakes Marketplace is part of a larger shopping center anchored by Albertsons. Steve Gonzalez, Marcus Muirhead and Greg Guglielmino of Colliers International represented DCL. The seller represented itself in this transaction.

July 29, 2015

Illinois Midwest Mixed-Use

Pre-Leasing for NorthShore 770 Mixed-Use Community Set for Aug. 1

by Jonathan Mehall July 29, 2015

NORTHBROOK, ILL. — Co-developers Morningside Group and Crossroads Development Partners have planned the pre-leasing of the luxury rental residences at NorthShore 770 for Aug. 1. The 347-unit luxury apartment community and 101,435-square-foot retail center features a Mariano’s grocery store at 770 Skokie Blvd. in Northbrook, 25 miles south of downtown Chicago. Other retailers and restaurants featured are Fuddruckers, Panera Bread, Kriser’s pet food, PNC Bank, and Chipotle. Renters at NorthShore 770 can choose from one-bedroom, one-bedroom plus study, two-bedroom and two-bedroom plus study plans measuring from 667 to 1,341 square feet. The building will also include 595 parking spaces for residents and their guests in a heated garage with a car wash and tire-fill station.

July 29, 2015

Indiana Midwest Retail

Brennan Investment Group Acquires Hillsdale Business Park In Indianapolis

by Jonathan Mehall July 29, 2015

INDIANAPOLIS — Brennan Investment Group LLC has acquired Hillsdale Business Park, a six-building business park comprising 445,892 square feet, in Indianapolis. Hillsdale Business Park is located at 7700 North Shadeland Ave. on the northeast side of Indianapolis at the intersection of I-465 and I-69, two main interstates that serve the Indianapolis metro area. The business park is within minutes of a number of restaurants, banks, and Castleton Square Regional Mall. Tenants of Hillsdale feature Community Hospital, Verizon Wireless, State Farm Insurance, Ingersoll Rand, Northeast Family Physicians and Pro Kids Inc. Originally developed by Duke Realty, Hillsdale Business Park is owned by Hillsdale Property Company and is leased and managed by Jones Lang LaSalle.

July 29, 2015

Newer Posts

Older Posts