sales_and_leases

The Boulder Group Arranges $7.7M Sale of Walgreens in Columbus, Ohio

by Jonathan Mehall July 21, 2015

COLUMBUS, OHIO — The Boulder Group has brokered the sale of a single-tenant net leased Walgreens property located at 4755 W. Broad St. in Columbus for $7.7 million. The 14,820-square-foot property was constructed in 2009 and is located on two acres. The triple-net lease expires in February 2034. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based private partnership, in the transaction. The buyer was a real estate investment and property management company based in Ohio.

July 21, 2015

Midwest Minnesota Retail

Mid-America Brokers Sale of Heritage Commons Shopping Center in Lakeville, Minn.

by Jonathan Mehall July 21, 2015

LAKEVILLE, MINN. — Mid-America Real Estate Corp. has brokered the sale of the Heritage Commons shopping center in Lakeville, 27 miles south of Minneapolis, for an undisclosed price. The buyer was Austin, Texas-based Epic Real Estate Partners. A Cub Foods anchors the 138,690-square-foot retail center. Other tenants include Subway, Papa Murphy’s, Great Clips and American Dental. Joe Girardi and Mark Robinson of Mid-America Real Estate were the exclusive brokers in the transaction on behalf of the seller, Sentinel Management Co. based in Edina, Minn.

July 21, 2015

Massachusetts Northeast Retail

Cushman & Wakefield Brokers Sale of Highlands Plaza in Massachusetts

by Amy Works July 21, 2015

EASTON, MASS. — Cushman & Wakefield has brokered the sale of Highlands Plaza, a retail property in Easton. Ohio-based Phillips Edison & Co. acquired the 112,869-square-foot property for an undisclosed price. At the time of acquisition, the Hannaford-anchored shopping center was 94 percent occupied. Robert Griffin, Geoffrey Millerd and Justin Smith of Cushman & Wakefield represented the seller, Boston-based Samuels & Associates.

July 21, 2015

California Retail Western

KZ Buys Concord Terminal Shopping Center for $7.2M

by Nellie Day July 21, 2015

CONCORD, CALIF. — KZ Companies has purchased Concord Terminal Shopping Center, a 41,400-square-foot shopping center near Walnut Creek, for $7.2 million. The center is located at 2677 and 2689 Clayton Road. It is occupied by CVS Pharmacy and Big 5 Sporting Goods. Concord Terminal was built in 1963. Kevin Van Voorhis, Henry Englehardt and Deborah Perry of Collier’s International represented the sellers, Logan Survivor’s Trust and Logan Non-Exempt Marital Trust.

July 21, 2015

California Industrial Western

Shaw Development Buys San Bernardino Industrial Warehouse for $12M

by Nellie Day July 21, 2015

SAN BERNARDINO, CALIF. — Shaw Development Co. has purchased a 197,000-square-foot industrial warehouse in San Bernardino for $12 million. The warehouse is located at 5080 Hallmark Parkway. Shaw plans to reposition the asset before marketing it for sale or lease. Frank Geraci and Juan Gutierrez of Voit Real Estate Services’ Ontario office executed the sale.

July 21, 2015

Florida Retail Southeast

Marcus & Millichap Brokers $18.8M Sale of Self Storage Facility in Florida

by John Nelson July 21, 2015

HOLLYWOOD, FLA. — Marcus & Millichap has brokered the $18.8 million sale of Emerald Hills Extra Closet Self Storage, a 1,970-unit self storage facility in Hollywood. The 128,797-square-foot facility sold for roughly $146 per square foot. The property is situated on approximately 7.4 acres at 3090 Sheridan St. near I-95. The sales price is the highest paid for a single self storage property in Florida to date, according to Marcus & Millichap. Constructed in 1991 and expanded in 1998, the Emerald Hills facility has climate-controlled and non-climate controlled units, business records storage, recreational vehicle parking, video surveillance and electronic gate access. Michael Mele and Luke Elliott of Marcus & Millichap’s Tampa office represented the seller and procured the buyer.

July 21, 2015

Illinois Midwest Office

Kraft Heinz Co. Signs New Long-Term Office Lease at Aon Center in Downtown Chicago

by Jonathan Mehall July 20, 2015

CHICAGO — Piedmont Office Realty Trust Inc. has signed Kraft Heinz Co. to a 170,000-square-foot lease at Aon Center, located at 200 E. Randolph St. in downtown Chicago. The new lease at the trophy tower extends through 2029. After recently completing the merger of Kraft Foods Group and H.J. Heinz Co., the global food and beverage giant will relocate its Chicago headquarters from Northfield, Ill., to five floors of the 83-story building. The company will be co-headquartered in Pittsburgh, Pa. Ned Franke and Steve Holmberg of Cushman & Wakefield represented the tenant in the transaction. Steve Smith and Mark Georgas of JLL, along with Tom Prescott and Alex Valente of Piedmont, facilitated negotiations on behalf of the owner.

July 20, 2015

Indiana Midwest Mixed-Use

Grand opening of The Depot at Nickel Plate in Fishers, Ind., Is Set for July 23

by Jonathan Mehall July 20, 2015

FISHERS, IND. — Flaherty & Collins Properties will host a grand opening Thursday, July 23, for The Depot at Nickel Plate, a luxury mixed-use development in Fishers, approximately 21 miles northeast of Indianapolis. Located at 8594 E. 116th St., the $42 million development features 242 market-rate luxury apartments and 17,045 square feet of streetfront retail. Retail tenants at The Depot include Dottie Couture boutique, Brixx Wood-Fired Pizza, Yogurtz, Flamme Burger and Salon Seven. Only 6,249 square feet of retail space is still available. The apartment sizes range from 703 square feet to 2,297 square feet, with rents ranging from $950 to $3,850 per month.

July 20, 2015

Illinois Midwest Retail

Baum Realty Brokers Sale of Retail Center for $2.3M in Evanston, Ill.

by Jonathan Mehall July 20, 2015

EVANSTON, ILL. — Baum Realty Group LLC brokered the sale of a multi-tenant retail strip center in Evanston for $2.3 million. The site is located at 3330 Central St. in Evanston, 14 miles north of Chicago. The 3,235-square-foot strip center is divided into three suites and was 100 percent occupied at the time of the purchase. Several tenants include Starbucks, Subway and Kenny the Kleeners. A private out-of-state investor purchased the property. Greg Dietz and Danny Spietz of Baum Realty represented the private seller.

July 20, 2015

Michigan Midwest Mixed-Use

Mode Development Completes 170,000 SF Building for Paslin Company in Michigan

by Jonathan Mehall July 20, 2015

SHELBY TOWNSHIP, MICH. — Mode Development has completed the construction and sale of a new 170,000-square-foot building in Shelby Township for The Paslin Company, which manufactures and markets industrial equipment and automation systems. Located at 52550 Shelby Parkway, this new state-of-the-art facility includes three stories of 40,000 square feet of office and engineering space. The manufacturing area consists of two 95-foot bays outfitted with several overhead cranes. Mode Development served as the general contractor for the project. Jason Capitani represented The Paslin Company in the sales transaction. Jason Capitani and Joe DePonio also represented Mode Development.

July 20, 2015

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