The Pipeline: Commercial Real Estate Round up for 3.13.09

CB Richard Ellis reports Transtar Industries, a Cleveland-based auto parts distributor, leased 12,800 square feet at 2044 Westmoreland Street in Henrico.

Beverly Health/Golden Living leased 10,000 square feet 7475-7400 Whitepine Road in Chesterfield.

Remedi SeniorCare, a pharmacy provider for senior healthcare facilities, Virginia leased 9,300 square feet at 2812 East Parham Road in Henrico.


Stanley Security Solutions
leased 8,600 square feet at 510-A Eastpark Court in Henrico.

GVA Advantis reports Carl Bates leased 5,400 square feet of office space in the SunTrust building at  919 E. Main Street in Richmond.

Richmond Twisters, a youth cheerleading gym,  leased 9,600 square feet at 5002-5 Byrd Industrial Drive in Richmond.

Thalhimer reports New Century Travel, a transportation service, leased 2,200 square feet at 4501-B W. Broad St. in Richmond.

Kayne Anderson Real Estate Partners purchased two student housing buildings from ING Real Estate for $19.3 million. RAMZ Hall at 933 W. Broad St. sold for $13.3 million, and Capital Garage sold for $6 million. Read about that deal here.

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Kathy BeattieMasterPlan Capital LLC; Commercial Mortgage Loans Recent comment authors
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MasterPlan Capital LLC; Commercial Mortgage Loans
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Re: The ING / Kane Anderson Deal:

The demographics for student housing are still very strong. For ING to part with these assets denotes their need for cash. For Kane Anderson to venture into “on-campus” housing (they are more comfortable with off-campus student buildings) tells me that they got a pretty good deal.

In any event, it’s good to see deals get done.

Kathy Beattie
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Regarding “CB Richard Ellis reports Transtar Industries, a Cleveland-based auto parts distributor, leased 12,800 square feet at 2044 Westmoreland Street in Henrico.” They did not lease the property but bought out the remaining lease . Transtar moved local operations to Ingleside Road in Norfolk, VA in December of 2008.