sales_and_leases

Darwin Brokers Sale of 100,000 SF Industrial Building in Elgin, Illinois

by Kristin Harlow November 30, 2017

ELGIN, ILL. — Darwin Realty has brokered the sale of a 100,000-square-foot industrial building in Elgin, located about 35 miles northwest of Chicago. The sales price was not disclosed. St. Charles Trading purchased the property, located at 1400 Madeline Lane within Randall Point Business Park. The global supplier of food ingredients will use the facility to consolidate and expand multiple warehousing and production operations in the western suburbs. Brendan Sheahan and Noel Liston of Darwin represented St. Charles Trading in the transaction. Mike Sedjo and Jack Brennan of CBRE represented the seller, Pancor Construction & Development.

November 30, 2017

California Retail Western

London-Based Only Roses Opens First U.S. Floral Store in LA

by Nellie Day November 30, 2017

LOS ANGELES — OnlyRoses, a specialty rose gift brand, will open its first U.S. retail location and second non-franchise store in the Los Angeles submarket of Beverly Hills. The Beverly Hills location will be the company’s second non-franchise boutique in the world and home base in the U.S. for nationwide shipments, which will come from the company’s new warehouse in Hollywood. Italian architecture firm Baciocchi Associati designed the store. Roses are ethically sourced directly from farms in the Andes mountains near Quito, Ecuador. Originally founded by husband-and-wife team Anian and Sabine Schmitt in 2007, the original London-based OnlyRoses store is located in London’s Knightsbridge neighborhood on the block adjacent to Harrod’s. In the last decade, the business has expanded with franchise locations in Dubai, Abu Dhabi, Doha, Riyadh and Kuwait City.

November 30, 2017

Mixed-Use Nevada Retail Top Stories Western

VICI Properties to Buy Harrah’s Las Vegas Casino from Caesars in $1.14B Sale-Leaseback Deal

by John Nelson November 30, 2017

LAS VEGAS — An affiliate of Caesars Entertainment Corp. (NASDAQ: CZR) has agreed to sell the real estate assets of Harrah’s Las Vegas Hotel and Casino on the Las Vegas Strip for $1.14 billion. The buyer is VICI Properties Inc. (OTC: VICI), a Las Vegas-based REIT spun off last month from Caesars Entertainment Operating Co. Inc., a subsidiary of Caesars Entertainment. As part of the transaction, VICI will lease back the land and real estate to Caesars under a 15-year, triple-net lease agreement with four five-year renewal options. Harrah’s Las Vegas spans 4.1 million square feet and contains 90,600 square feet of casino space and 2,530 hotel rooms. The property features a Mardi Gras and carnival theme, with 16 restaurants and bars, retail shopping, spa services, a parking garage and 24,000 square feet of meeting space. VICI Properties also entered into a definitive agreement with Caesars to sell approximately 18.4 acres of undeveloped land located behind the LINQ Hotel & Casino and Harrah’s Las Vegas for $73.6 million. It is expected that Caesars will use the land with certain other parcels to construct a convention center adjacent to Harrah’s Las Vegas. “These transactions illustrate the growth potential provided by our …

November 30, 2017

Restaurant Retail Texas

Stream Negotiates Two Restaurant Leases at Trammell Crow Center in Dallas

by Taylor Williams November 29, 2017

DALLAS — Stream Realty Partners has negotiated a pair of restaurant leases at Trammell Crow Center in Uptown Dallas. Urban market chain Royal Blue Grocery signed a lease for a 3,300-square-foot store and a 2,000-square-foot kitchen, and restaurant operator NL Group Inc. signed a lease for 3,100-square-foot space capable of accommodating up to 80 patrons. Trammell Crow Center, a 1.2 million-square-foot office tower located at 2001 Ross Ave. near Klyde Warren Park, is currently undergoing a redevelopment of its lobby, plaza and lower exterior.

November 29, 2017

Office Texas

Energy Firm Leases 32,000 SF at Capitol Tower in Downtown Houston

by Taylor Williams November 29, 2017

HOUSTON — Quantum Energy Partners has signed a 32,000-square-foot office lease on the top floor of Capitol Tower, a 35-story, Class A office property under construction in downtown Houston. Cushman & Wakefield represented Quantum Energy in the lease negotiations and CBRE represented the landlord, Skanska. With this signing, Capitol Tower, construction of which is expected to be complete in 2019, is now 33 percent preleased.

November 29, 2017

Massachusetts Northeast Office

CBRE/NE Brokers $22.5M Sale of Office Property in Boston’s Back Bay

by Amy Works November 29, 2017

BOSTON — CBRE/New England has arranged the sale of an office building located at 10-11 Arlington in Boston’s Back Bay. Fisher College sold the six-story building to 10-11 Arlington LLC for $22.5 million. The buyer plans to use the 21,205-square-foot property as a family office. Mark Reardon, Meredith Christensen, Diane Harris, Matthew Furey, Simon Butler and Biria St. John of CBRE/NE represented the seller in the deal.

November 29, 2017

Florida Industrial Southeast

Denholtz, Militello Purchase Two Industrial Portfolios in Orlando for Combined $17.2M

by Camren Skelton November 29, 2017

ORLANDO, FLA. — Denholtz Associates, in partnership with Militello Capital, has acquired two industrial/flex portfolios in Orlando for a combined $17.2 million. The Silver Star Portfolio, an eight-building, 254,915-square-foot industrial flex portfolio, was acquired for $12.1 million, and the Parkway Commerce Center, a two-building, 91,500-square-foot industrial flex property, was acquired for $5.1 million. Denholtz and Militello purchased Parkway Commerce Center from Brennan Investment Group. The Silver Star Portfolio, located at 3600-3802 Silver Star Road in Orlando, was 95 percent leased at the time of sale to 30 tenants. Parkway Commerce Center, located at 3501 Parkbreeze Court, was 68 percent leased at the time of sale to 23 tenants. Both properties are less than 12 miles from Orlando International Airport.

November 29, 2017

Florida Office Southeast

Meridian Development Acquires Office Portfolio in Tampa for $16.5M

by Camren Skelton November 29, 2017

TAMPA, FLA. — Meridian Development Group has acquired a two-property office portfolio in Tampa’s Carrollwood submarket for $16.5 million. The portfolio includes Buschwood Park One and Buschwood Park Two and totals 171,166 square feet. Rick Brugge and Mike Davis of Cushman & Wakefield represented the seller, Buschwood One & Buschwood Two LLC, in the transaction. Meridian was represented internally. The firm will invest another $1 million to build a 2,000-square-foot amenity center and café and to upgrade indoor and outdoor common areas. Meridian’s subsidiary company, Meridian Management Group, will manage the property and oversee the improvements. Jim Moler and Deanna Beer of JLL will oversee leasing for the property, which was 82 percent leased at the time of sale. Prior to the sale, Pilgrim Quality Solutions, an IQVIA Co., signed a new 18,000-square-foot lease at Buschwood Park Two.

November 29, 2017

Alabama Multifamily Southeast Student Housing

CBRE Arranges Sale of 900-Bed Student Housing Community Near Auburn University

by Camren Skelton November 29, 2017

AUBURN, ALA. — CBRE has arranged the sale of The Connection at Auburn, a 900-bed, 312-unit student housing community located less than three miles from the Auburn University campus and a half-mile from College Street, one of Auburn’s main thoroughfares. Jaclyn Fitts, William Vonderfecht and Casey Schaefer of CBRE, in conjunction with CBRE’s Nashville Multifamily team, arranged the transaction on behalf of the buyer, University Partners. A private real estate fund managed by Crow Holdings Capital sold the asset for an undisclosed price. At the time of sale, The Connection at Auburn was 99.3 percent occupied.

November 29, 2017

Illinois Midwest Office

Macerich Sells 326,000 SF Office Tower in Chicago for $86.4M

by Kristin Harlow November 29, 2017

CHICAGO — The Macerich Co. (NYSE: MAC) has sold a 326,000-square-foot office tower in Chicago for $86.4 million. The building, located at 500 N. Michigan Ave., is adjacent to the company’s The Shops at North Bridge. The sale aligns with Macerich’s strategy of recycling capital out of non-core assets and into its core portfolio of retail assets, according to the company. The real estate investment trust currently owns 54 million square feet of real estate consisting primarily of interests in 48 regional shopping centers.

November 29, 2017

Newer Posts

Older Posts