SOUTH BURLINGTON, VT. — KeyPoint Partners has negotiated a lease with Target Corp. to open a location at University Mall (UMall) in South Burlington. The new Target store will occupy the 60,000-square-foot anchor space, which is currently occupied by The Bon-Ton. Construction for the new Target is slated to begin in February with the opening planned for October. Located on Dorset Street, UMall features more than 610,000 square feet of retail space. Current retailers and restaurants include..
NEW HAMPSHIRE, VERMONT AND RHODE ISLAND — KeyBank Real Estate Capital has provided a total of $99.8 million in FHA financing for a six-property seniors housing portfolio located across New Hampshire, Vermont and Rhode Island. The skilled nursing facilities total 664 beds and were built between 1972 and 2007. The properties are Ridgewood Center - Bedford in Bedford, N.H.; Mountain Ridge Center in Franklin, N.H.; Keene Center in Keene, N.H.; Harris Hill Center in Concord, Vt.; Mountain View..
SHELBURNE, VT. — Ziegler, a specialty investment bank, has arranged $67.1 million in bond financing for Wake Robin, a continuing care retirement community in Shelburne, located along Lake Champlain just south of Burlington. The community is situated on 136 acres and feature 212 independent living units, 31 assisted living units and 51 skilled nursing units. The nonprofit Wake Robin Corp. was incorporated in 1984 to develop, own and operate the community. It was the first CCRC in..
COLCHESTER, VT. — Norwich Properties has completed the disposition of Residence Inn Burlington Colchester, an extended-stay hotel located in Colchester. AAM 15 Management acquired the 108-suite property for an undisclosed price. Completed in 2010, the hotel features suites with fully equipped kitchens, an indoor swimming pool and soaking tub, a fitness facility, a business center, a sundries shop, a barbecue and picnic area, complimentary hot breakfast and the Residence Inn Mix, evening..
BURLINGTON, VT. — Rouse Properties has formed a joint venture with Devonwood Investors LLC, owner of Burlington Town Center, to redevelop the retail property into a mixed-use development with apartments, retail, restaurants and offices. The joint venture is expected to close on the property in the next few weeks and will then begin construction on the project, which is expected to cost $225 million. HFF’s Porter Terry arranged the redevelopment financing. The project has received zoning..
BENNINGTON & MANCHESTER, VT. – Wason Associates Hospitality Real Estate Brokerage Group (Wason Associates) has negotiated the sale of the Best Western Plus in Bennington and the Palmer House Resort in Manchester. The Best Western Plus is located near Bennington College and several ski resorts. S.K.B.W.V. Acquisition LLC LL acquired the Best Western Plus for $3.8 million. The hotel includes 58 recently renovated rooms and an owner/property manager residence. The Palmer House Resort is..
MIDDLEBURY, VT. — Battell Block Partners has acquired the historic Battell Block building, which houses office and residential apartment space, located at 10 Merchants Row in downtown Middlebury for an undisclosed price. The seller was Battell LLC. Commercial tenants at the property include Community College of Vermont, Edgewater Gallery, Sabai Sabai, Carol’s Hungry Mind Café and Middlebury College’s restaurant 51 Main. The buyer intends to redevelop parts of the building. The buyer is..
ST. ALBANS CITY, VT. — Nedde Real Estate has arranged the sale of an office building located at 242 S. Main St. in St. Albans City. BAART purchased the 6,000-square-foot Knights of Columbus building from Vermont Club Home Association for an undisclosed price. Grant Butterfield of Nedde Real Estate arranged the transaction.
COLCHESTER, VT. — Nedde Real Estate has brokered the purchase of a multifamily property located at 961-967 Mill Pond Road in Colchester. Jeff Peck of Peck Investment Properties acquired the 12-unit apartment building from RMPR LLC for an undisclosed price. Grant Butterfield of Nedde Real Estate represented the buyer, while Steve Donahue of Donahue & Associates represented the seller in the transaction.
SOUTH BURLINGTON, VT. — Nedde Real Estate has brokered the lease of 5,808 square feet office at 1891 Williston Road in South Burlington. The tenant, Ideas Well Done, will move into the space in early December. Fernando Cresta and Doug Nedde of Nedde Real Estate co-own the property. Meg McGovern of Donahue & Associates represented the tenant in the lease.