HFF closes $17.915 million sale of and arranges $15.720 million in financing for transit-oriented office building in suburban Chicago

            

6400 Shafer Court, Rosemont, IL                  Photo by Jay Rubinic

                                            

         

Jaime Fink

CHICAGO, IL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $17.915 million sale of and arranged $15.72 million in financing for 6400 Shafer Court, a 179,442-square-foot, transit-oriented office building in the suburban Chicago community of Rosemont, Illinois.

HFF marketed the property on behalf of the seller, a subsidiary of Crossroads Partners, and procured the buyer, Free Market Ventures.  Additionally, HFF worked on behalf of the new owner to secure the acquisition loan with through Prime Finance. 

6400 Shafer Court is situated along Interstate 294 and not far from Interstate 90 in the O’Hare submarket of Chicago.  The eight-story property is adjacent to the Hyatt Rosemont hotel and is within walking distance of many retail and dining options. 

In addition, shuttle service is provided from the property to O’Hare International Airport and the CTA Blue Line stop. Most recently renovated in 2015, the office tower features 22,081-square-foot average floorplates and parking for 495 vehicles in a surface lot and 22 vehicles in an executive parking garage.  6400 Shafer Court is 92.2 percent leased.  Crossroads Partners was retained to manage the building.

The HFF investment sales team representing the seller was led by senior directors Bryan Rosenberg and Patrick Shields and senior managing directors Jaime Fink and Jeff Bramson.

HFF’s debt placement team representing the borrower was led by managing director Christopher Carroll and senior director Trent Niederberger.

For more information on this news release, please contact:

Kristen M. Murphy

Director, Public Relations

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

www.freemarketventures.com.

www.xr-partners.com

HFF closes $28.5 million sale of downtown Portland, OR creative office building

Sixth at Yamill Office Building, Portland, OR

                                                                                           Photo by Dave Davidson

Nicholas Kucha

PORTLAND, OR –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $28.5 million sale of Sixth at Yamill, a 109,725-square-foot, creative office building in Portland, Oregon.

HFF marketed the property on behalf of the seller, Swift Real Estate Partners.  KBSRA Sixth at Yam, LLC, a joint venture between True North and KBS, purchased the asset in an off-market transaction. 

Sixth at Yamhill is situated at 811 Southwest Sixth Avenue at the high-foot-traffic, high-visibility corner of Southwest Yamhill Street and Southwest Sixth Avenue in downtown Portland.

The 11-story building was renovated in 2016 and offers completely re-imagined creative office space with 9,600-square-foot floor plates overlooking Portland’s living room – Pioneer Courthouse Square. 

Sixth at Yamhill’s core location provides access to light rail, buses, parking garages and is surrounded by luxury boutique hotels and restaurants. 

During its ownership, Swift completed a major lobby remodel, repositioned floors three through 11 to creative shell, established a common indoor-outdoor tenant patio on the fourth floor, added basement bike parking and secured the high-end boutique Water Ave Coffee Shop as a retail amenity.

The HFF investment sales team representing the seller was led by senior managing director Nick Kucha, director James Childress and associate Logan Greer.

For more information on this news release, please contact:

Kristen M. Murphy

Director, Public Relations

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

www.kbs.com.

http://www.swiftrp.com.

HFF secures $15 million refinancing for repositioning of 888 Tennessee in the Dogpatch neighborhood of San Francisco

Chris Gandy

SAN FRANCISCO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $15 million refinancing for 888 Tennessee Street, a 40,000-square-foot industrial building fully leased to Amazon in San Francisco, California.

Working on behalf of the borrower, The S.Hekemian Group, HFF placed the 10-year, fixed-rate loan with Principal Commercial Capital, Principal Real Estate Investors’ CMBS platform.  

Principal Real Estate Investors is also the primary servicer of the loan, proceeds of which will be used to refinance the existing mortgage on the property.

888 Tennessee Street is a warehouse fully-leased to Amazon.  Located one block west of Third Street, the building is in San Francisco’s Dogpatch neighborhood, an area with multiple restaurants, breweries and other retail destinations in addition to proximity to Interstate 280.

The HFF debt placement team was led by director Chris Gandy.

“888 Tennessee is extremely well located in the heart of the San Francisco’s Dogpatch neighborhood with convenient access and walkability to restaurants, shops and transit,” Gandy said.

 “This facility acts as the first Amazon Prime Now location in San Francisco, illustrating the extreme demand for last-mile facilities from the e-commerce industry. 

“We feel that we are in the infancy of a shift to last-mile distribution facilities in dense, in-fill urban environments.  The property’s location will only improve over time with the development of Pier 70, the Golden State Warriors Stadium, Uber’s HQ campus and the continued expansion of UCSF.”

 For more information on this news release, please contact:

Kristen M. Murphy

Director, Public Relations

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

http://shg.us.com

HFF closes $16.5 million sale of and secures $12.635 million in financing for Mallside Plaza in South Portland, ME

Mallside Plaza, 198 Maine Mall Road, South Portland, ME

 

James Koury

 BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $16.5 million sale of and secured $12.635 million in financing for Mallside Plaza, a 98,948-square-foot shopping center in South Portland, Maine.

HFF marketed the property on behalf of the seller, Kimco Realty Corp., and procured the buyer, Northeast Capital Group of Rampo, New York.  Additionally, HFF worked on behalf of the new owner to secure a 10-year, fixed-rate acquisition loan through Katahdin Trust Company.

Located at 198 Maine Mall Road, Mallside Plaza has direct visibility from Interstate 95 and is adjacent to the super regional Maine Mall, which extends the property’s trade area out to 30 miles and more than 460,000 people.

 The fully leased property is anchored by DSW Shoe Warehouse, Five Below, Guitar Center, Dollar Tree and Mattress Firm and is shadow-anchored by Dick’s Sporting Goods. The sale also included an outparcel single-tenant building net leased to a top-performing Five Guys Burgers. 

The HFF investment sales team representing the seller was led by senior managing director Jim Koury.

HFF’s debt placement team was led by senior director Porter Terry.

For more information on this news release, please contact:

Kristen M. Murphy

Director, Public Relations

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

www.twitter.com/kimcorealty

.otcmarkets.com/stock/KTHN/quote.

www.necgre.com