Tag: live plus income buildings

September’s Slowdown: ADP Reports Private Sector Employers Turn Cautious Private sector employment increased by 135,000 jobs from August to September according to the September ADP National Employment Report. Researchers warn the latest numbers are a sign hiring is slowing. ADP reported Wednesday that mining cut 3,000 jobs, while manufacturing added just 2,000 jobs. Health care providers …

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Veteran Agency Leasing Broker Joins CushWake Cushman & Wakefield announced that Josh Bernstein joined the firm as a Managing Director. An industry veteran with more than 13 years of brokerage experience, Bernstein specializes in landlord representation across the Westside with a specific focus in Hollywood, Miracle Mile, Culver City, Playa Vista, and Beverly Hills. He will …

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Apartment Assn. of Orange County Partners with Homeless Organization The Apartment Association of Orange County (AAOC) partnered with United to End Homelessness (U2EH) in an effort to address the county’s homelessness crisis. This will allow U2EH to significantly scale up the initiative’s successful “Welcome Home OC” rental pilot effort, a program launched last fall. This will …

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Milvado Ends Q3 with Flurry of Industrial Leases Milvado Property Group ended the third quarter with nine new, renewal and extension leases totaling 86,767 square feet within its Long Island industrial portfolio. The landlord was self-representing in all transactions, which included the following: • GD4 Test Services Inc. leased 6,400 square feet at 95 Horseblock Rd. in …

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CushWake’s Institutional Team Adds Director in Chicago Cushman & Wakefield has added 20-year veteran Josh McGee as managing director with the firm’s corporate capital markets. He’ll be based in Chicago and Cincinnati. McGee will provide advice, analysis and execution to Cushman & Wakefield’s institutional clients in the disposition of single-tenant assets and sale leasebacks. He will also provide credit analysis …

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Essex Completes Deals in Edgewater, West Ridge Essex Realty Group recently completed two North Side apartment property sales: the 23-unit 6100-6104 N. Paulina St. in Edgewater, and the 16-unit 2134-2136 W. Arthur Ave./6510 N. Hamilton Ave. in West Ridge. The combined purchase price was just over $4.5 million. In one deal, Essex Realty’s Matt Feo represented the …

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Alexandria Acquires Stanford Research Park Asset for $26M Pasadena-based Alexandria Real Estate Equities, Inc. expanded its Greater Stanford Innovation Cluster footprint with the $26-million acquisition of 3160 Porter Dr., a 92,000-square-foot redevelopment project in Stanford Research Park. The REIT was selected by Stanford University to transform the Palo Alto office asset into a dynamic, intentionally designed …

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US Storage Centers Acquires 780-Unit Self-Storage Facility in Middleton Self storage owner-operator US Storage Centers has acquired a 780-unit, 85,260-square-foot self-storage facility in the Boston suburb of Middleton. The sales price was not disclosed. Located at 193 South Main St., the facility features climate-controlled units, onsite moving carts, electronic gated access, video surveillance and passenger elevators. …

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NYC Retail-Focused Investment Firm Sets Up Shop Investment firm Sagamore Hill Partners LLC has launched, with a focus on retail real estate. Led by CIO Alex Janoff, along with RIPCO real estate principals Peter Ripka, Todd Cooper, Gene Spiegelman and Mark Kaplan, the New York City-based firm will pursue a broad range of retail and mixed-use …

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JLL Markets Two-Phased Development Site in North Williamsburg JLL Capital Markets has been selected to market 67 Kent Ave. in Brooklyn’s North Williamsburg neighborhood. The property footprint comprises six separate lots, totaling 72,535 square feet, that take up nearly a full city block and includes 1,125 square feet of wraparound, high-visibility frontage. The JLL team includes …

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Cresa Boston Hires Former CushWake Tenant Rep as Managing Principal The Boston office of tenant-only commercial real estate firm Cresa has hired Mark Mulvey as managing principal. Mulvey will work alongside other managing principals Dan Sullivan, Adam Subber, Jack Burns, Tim Myllykangas and the rest of the Boston office. Prior to joining Cresa, Mulvey was an …

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Berkadia Arranges WI Portfolio Deal for Weidner Berkadia arranged the sale of a portfolio of two multifamily properties totaling 364 units in the suburbs of Madison, WI. The properties that traded to Weidner Apartment Homes included the 164-unit Van Buren Place in Sun Prairie, WI, and the newly-built, 200-unit The Park in DeForest, WI. Ralph DePasquale, Parker …

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Orangetheory Expands Chicago Footprint with Loop Facility Orangetheory Fitness leased 4,000 square feet on the second floor of 155 N. Michigan Ave. in the Loop. It’s set to open in January 2020. NKF’s Larry Kling represented Orangetheory in site selection analysis and lease negotiations for the new location. Kling represents Orangetheory’s real estate interests in Illinois, and has arranged more …

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Wells Fargo Claims Bank Space on Busy UES Corner Cushman & Wakefield arranged a long-term, 3,280-square-foot lease for Wells Fargo at 1300 Third Ave. on the Upper East Side. The financial services company will occupy a portion of the ground-floor retail space at the property. A team of Steven Soutendijk, Sean Moran, Molly Sandza and Patrick O’Rourke represented the …

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Tishman Speyer Leases Massive Postal Space for Creative Office Tishman Speyer has leased the top six floors of the 10-story Morgan North Postal Facility to develop 630,000 square feet of creative office space in West Chelsea. Under terms of the 99-year lease, the U.S. Postal Service will operate on the bottom four floors of the facility, which …

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Dental Practice Establishes Hudson Square Presence MY NYC Dentist, a diversified group of dental practices in the New York City area, will launch its new Hudson Street Dental Associates location at Jack Resnick & Sons’ 315 Hudson St. The dental practice has signed a 4,446 square-foot lease on the ground floor of the 10-story, 500,000-square-foot property for …

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Avison Young Executes $27M 1031 Exchange Involving Multiple SoCal Assets Avison Young negotiated a strategic 1031 exchange of four properties with a total transaction value of $26.9 million. The complex process involved the sale of a three-property, multifamily/mobile-home portfolio that included 66 apartment units and 171 mobile-home spaces in SoCal. The exchange buyer then traded into …

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SRS Real Estate Brokers $27M Sale of Naples Retail Center SRS Real Estate Partners has arranged the $26.5-million sale of Stock Plaza, a 65,297-square-foot multi-tenant retail center in Naples. Located at 7735 Collier Blvd., the five-building property was completed in 2018 and is currently 98% occupied by 13 tenants. The tenant roster includes NCH Healthcare, Sherwin …

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Stream Realty Hires Landlord Rep O’Hara as VP Stream Realty Partners has hired Jessica O’Hara as VP within the company’s Chicago office division. Much of O’Hara’s eight-year CRE career to date has been at CBRE, where she focused on office leasing, tenant representation and transaction management. Initially, O’Hara will focus on office landlord representation, supporting owners by maximizing an …

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Golub Partnership Closes Burnham Center Deal Golub & Company finalized its acquisition of Burnham Center at 111 W. Washington in the Loop in a joint venture with The Family Office Company B.S.C. The seller is a venture of Bryn Mawr, PA-based Alliance Partners HSP. Currently known as the Chicago headquarters of GrubHub, the 585,000-square-foot tower was …

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PAC Snags 218-Unit MF Community in Tampa Preferred Apartment Communities (PAC) has acquired 5 Oaks at Westchase, a newly- constructed 218-unit multifamily community in Tampa. The sales price was not disclosed. Built in 2019, the community is located in the Westchase submarket, a 2,000-acre master-planned community in the northwest region of Tampa. The community features screened-in …

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Hines Unveils Global Investment Platform, Appoints Regional CIOs International real estate developer and owner Hines unveiled its new investment platform to boost “its ability to develop, acquire and operate best-in-class real estate assets globally in partnership with current and future institutional and retail investors,” according to a statement from the Houston-headquartered firm. The new platform will …

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Seattle’s Absorption Hits 4M SF, Highest in a Decade Puget Sound’s commercial real estate market remained among the strongest in the country. In fact, research by Colliers International shows significant positive net office absorption in Q3 contributed to a year-to-date total of nearly four million square feet, the highest year-to-date total in the past decade. Colliers …

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Mooyah to Houston: We’re Expanding Officials with quick-service restaurant chain Mooyah like the Houston area enough to expand, announcing the addition of 26 locations by 2021. The Plano, TX-based burgers-and-fries company is scouting out real estate and franchisees in Galveston, The Woodlands, Cypress, Spring, Conroe, Baytown, Pasadena, Pearland, Friendswood, Sugar Land, Richmond, Rosenburg, League City, Deer …

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PREP Property Group Acquires 611K-SF Hillside Village PREP Property Group struck a deal to buy Hillside Village, a 611,232-square-foot regional shopping center in Cedar Hill, TX, approximately 16 miles southwest of downtown Dallas. The Park City, UT buyer acquired the property on U.S. 67 from Fort Worth’s Trademark Property Co. The center is the latest property …

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Blackstone Forms $2.9B JV to Leash Great Wolf Resorts Controlling Interest Blackstone Real Estate will acquire a 65% controlling interest in Great Wolf Resorts Inc. Blackstone affiliate Blackstone Real Estate Partners IX formed a $2.9-billion joint venture with Centerbridge Partners LP, the entertainment and family resort company’s current owner. Great Wolf operates 18 resorts around the …

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Apartment Growth “Subdued,” Fundamentals Remain Healthy While national apartment occupancy and rent growth were slow to flat in Q3 2019, fundamentals driving the sector remain healthy, according to information released by REIS Moody’s Analytics Inc. Specifically, “demand growth increased in line with supply growth, and rent growth held steady at just below 1% in the quarter,” …

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Valtech Acquires Romeoville Industrial with Rental Income Stream CBRE recently represented Valtech LLC in the acquisition of 1347-1349 Enterprise Dr., a 33,900-square-foot industrial property in Romeoville, IL. The purchase price wasn’t disclosed. Cal Payne, Philip DeBeor, Matt Mulvihill and Kevin Segerson of CBRE represented Valtech in the transaction. NAI Hiffman’s Packy Doyle, Adam Roth and Dan Leahy advised the seller, Felix …

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Brandywine Taps JLL to Lease Retail at 66-Acre MXU Broadmoor Brandywine Realty Trust retained JLL as the exclusive retail leasing advisor for Broadmoor, a 66-acre, mixed-use transit-oriented development project in northwest Austin. JLL has also been tapped to manage the marketing and sales efforts for the approximately two-acre hospitality site within the project. JLL’s Barry Haydon …

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