sales_and_leases

Hilti to Occupy 65,000 SF Industrial Space in Metro Dallas

by Haisten Willis May 20, 2015

IRVING, TEXAS — Hilti Inc. has signed a lease to occupy space at Parc Royal, an industrial property located on West Royal Lane in Irving. Hilti, a supplier of specialized tools and fastening systems for the construction industry, will lease 65,000 square feet of industrial space in Building 4 with an anticipated occupancy date of June 1. The 30-acre, four-building, 511,600-square-foot industrial park, completed in December 2014, is located in the DFW Airport submarket. Blake Kendrick of Stream Realty Partners represented the landlord, Jackson-Shaw, while Forshey Hoobler with JLL represented Hilti. Jackson-Shaw partnered with GID Investment Advisor LLC, a Boston-based real estate investment company, to develop the property. Texas Capital Bank provided the construction financing for the project. Mycon General Contractor Inc. was the general contractor, and GSR Andrade Architects was the architect.

May 20, 2015

Berkadia Brokers Sale of Two Apartment Communities in Metro Tampa Totaling $96.4M

by John Nelson May 20, 2015

BRANDON AND TAMPA, FLA. — Berkadia has brokered the sale of two apartment communities in the Tampa area for a combined $96.4 million. Hamilton Bay Apartments, located at 1801 Princeton Lakes Drive in Brandon, sold for $43.6 million. Tampa-based Blue Rock Partners purchased the 444-unit asset from Nashville-based Covenant Capital Group. Built in 1989, the apartment community’s amenities include two swimming pools, a clubhouse, tennis court, recreation room, playground, laundry facility, controlled-access gate, child care center, complimentary coffee bar, community garden and a dog park. Viera at Westchase Apartments, located at 12401 W. Hillsborough Ave. in Tampa, sold for $52.8 million. Glendale, Colo.-based Forum Real Estate Group purchased the 390-unit property from Covenant Capital Group. Built in 1999, the property’s community amenities include two resort-style swimming pools, a hot tub with a waterfall and grotto, cabana lounges, clubhouse, business center, fitness center, tennis courts and a controlled-access gate.

May 20, 2015

Sansone-Towne-South-Plaza-Terre-Haute-IL

Indiana Midwest Retail

Sansone Group Purchases Shopping Center in Indiana for $18M

by Amy Works May 20, 2015

TERRE HAUTE, IND. — Sansone Group has acquired Towne South Plaza, a shopping center located on U.S. Highway 41 in Terre Haute. Creekstone Towne South Plaza LLC sold the 162,285-square-foot property for $18 million. Gander Mountain, Best Buy, PetSmart, Guitar Center and Five Below occupy the property. Sansone plans to eventually expand the center to 213,000 square feet.

May 20, 2015

Industrial New York Northeast

Equilibrium Equities Acquires 514,000 SF Distribution Center in New York

by Amy Works May 20, 2015

KIRKWOOD, N.Y. — An affiliate of Blue Bell, Pa.-based Equilibrium Equities Inc. has acquired a distribution center located at One Grosset Drive in Kirkwood, within the Greater Binghampton, N.Y., area. Penguin Random House LLC sold the property for an undisclosed price. The buyer plans to immediately rebrand the 514,000-square-foot center as a multi-tenant distribution facility called Triumph Business Center. Situated on 51 acres, the property features 28- and 29-foot ceiling heights, a 62,000-square-foot rack-support section, and a fully automated storage and retrieval system with an 82-foot ceiling height. Planned renovations include improved exterior aesthetics, lighting and signage upgrades, minor building system repairs and improved truck loading. Pre-leasing activities for the rebranded center have already commenced.

May 20, 2015

California Multifamily Western

The Landing at Walnut Creek Receives $70M in JV Equity

by Nellie Day May 20, 2015

WALNUT CREEK, CALIF. — The Landing at Walnut Creek, a 178-unit apartment development in Walnut Creek, has received $70 million in joint venture equity. The Class A project will be located at the corner of Ygnacio Valley Road and Oakland Boulevard. The Landing will be situated directly across from the Walnut Creek BART station. The transit-oriented development is scheduled for completion late next year. Community amenities will include a fitness center, yoga studio, roof deck with lounge and outdoor resident activity areas. HFF’s equity placement team was led by Bruce Ganong and Adam Simon, who worked on behalf of the Landing’s developer, BHV Centerstreet Properties LLC. The equity was sourced from a U.S.-based life insurance company.

May 20, 2015

California Industrial Western

Robinson Pharma Leases Manufacturing Building in Santa Ana

by Nellie Day May 20, 2015

SANTA ANA, CALIF. – Robinson Pharma has signed a 10-year lease for a 126,796-square-foot industrial manufacturing/warehouse building in Santa Ana. The space is located at 2811 So. Harbor Blvd. The building is now fully occupied. This transaction represents one of the largest lease transactions in Orange County this year, according to Marc Belluomini of CT Realty, the building’s landlord. The firm is currently finishing interior and exterior refurbishments to reposition it as a corporate headquarters facility for Robinson Pharma. The supplement and soft-gel manufacturer was represented by CBRE’s Bob Goodmanson. CT Realty was represented by Dale Camera and Jim Snyder of Lee & Associates.

May 20, 2015

Florida Retail Southeast

Publix Super Markets Buys Freestanding Publix in Fort Lauderdale for $22.5M

by John Nelson May 19, 2015

FORT LAUDERDALE, FLA. — Continuing its buying spree of Publix grocery stores in Florida, Publix Super Markets Inc. has purchased the Publix at Sunrise, a 44,840-square-foot, single-tenant Publix grocery store located at 1415 E. Sunrise Blvd. in Fort Lauderdale. Publix Super Markets purchased the net-leased asset from Stiles Corp. for $22.5 million free and clear of existing debt. Daniel Finkle, Luis Castillo and Nat Scarmazzi of HFF represented Stiles in the transaction.

May 19, 2015

Midwest Missouri Multifamily

Village Green Acquires ICON on the Plaza Apartments in Kansas City

by Amy Works May 19, 2015

KANSAS CITY, MO. — Village Green has acquired ICON on the Plaza Apartments in Kansas City for an undisclosed price. The company plans to redevelop and reposition the three-tower apartment community, located in Country Club Plaza, to be one of its City Apartments brands. The redevelopment community will feature studio, one-, two- and three-bedroom apartments and penthouses; a 24/7 fitness center; Zen garden; resort swimming pools; bark park/dog run; rooftop Sky Club with gourmet kitchen, two-sided fireplace, lounge and bar seating, large television and gaming area; an outdoor Sky Park with fire pit and lounge seating overlooking Country Club Plaza; theater room; business center/conference room; dog wash; and a bike storage and repair area. The property’s new name and models will be announced in June. Village Green Construction is the contractor for the redevelopment project, which is slated for completion in spring 2016.

May 19, 2015

Arizona Multifamily Western

Aura at Midtown Apartments in Phoenix Sells for $8.6M

by Nellie Day May 19, 2015

PHOENIX – The 96-unit Aura at Midtown in Phoenix has sold to Capital Real Estate for $8.6 million. The community is located at 3623 North 5th Ave. It is situated inside Encanto Village. The seller, Pathfinder Partners and Avenue North, was represented by Steve Gebing, Cliff David, Richard Butler, Brian Tranetzki and Trevor Hardy of Marcus & Millichap.

May 19, 2015

California Industrial Western

AREO Renews Manufacturing Space at Irvine Spectrum

by Nellie Day May 19, 2015

IRVINE, CALIF. – AREO Inc. has signed a five-year lease renewal for 44,253 square feet of manufacturing and distribution space in Irvine. The space is located at 15041 Bake Parkway. The home accent products and eco-friendly housewares manufacturing and distribution company was represented by Jeff Saywitz of the Saywitz Company. The landlord, Buckhead Phoenix, was represented by CBRE’s Greg Haly.

May 19, 2015

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