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Opus To Design, Construct Spec Industrial Building in Minnesota

SHAKOPEE, MINN. — The Opus Group has entered into a contract with Capp Industries Inc. to design and construct a 121,000-square-foot speculative warehouse and distribution facility in Shakopee. The building, located at 4551 12th Ave., will be adjacent to the first phase project built by Opus for Capp Industries in 1996. The facility will include a 32-foot clear height and 50-foot-deep structural bays. Construction will begin this fall and completion is slated for January 2015. Opus …

ENCANTO OASIS APARTMENTS IN PHOENIX SELLS FOR $1.2M

PHOENIX – The 26-unit Encanto Oasis Apartments in Phoenix has sold to a local private capital investor for $1.2 million. The community is located at 1840 West Thomas Road, across from the Encanto Golf Course. It was built in 1962. Brian Tranetzki and Rich Butler of Marcus & Millichap represented both the buyer and seller, Encanto Oasis Partners, in this

NAI MERTZ ARRANGES SALE OF TWO OFFICE BUILDINGS TOTALING 100,000 SF

MOUNT LAUREL, N.J. — NAI Mertz has arranged the sale of two office buildings totaling 100,000 square feet in Mount Laurel for an undisclosed price. Situated at 5000 and 7000 Atrium Way within Horizon Corporate Center, the bulidings each offer 50,000 square feet of Class A office space. Currently, 5000 Atrium Way is 100 percent lease and 7000 Atrium Way has one 12,000-square-foot unit available for lease. Rebecca Ting and Julie Kronfield of NAI Mertz represented the seller, Cherry Hill, …

MOODY NATIONAL REIT I TO PURCHASE HOTEL IN AUSTIN

AUSTIN — Moody National REIT I Inc. is under contract to purchase the Hilton Garden Inn Austin NW/Arboretum for $29.3 million. The purchase price excludes acquisition costs and is subject to adjustments and prorations. The hotel is located north of downtown Austin just off Highway 183 near the Arboretum at Great Hills, the University of Texas, Sixth Street and Lake Travis. The 138-room hotel opened in 2002. Amenities include an indoor swimming pool and 1,400 square feet of meeting space. …

M&M ARRANGES $2M SALE OF 28-UNIT APARTMENT BUILDING

RIVER GROVE, ILL. —Marcus & Millichap has arranged the $2 million sale of 2453 N. 1st Ave., a 28-unit apartment property in River Grove. The apartment building consists of one- and two-bedroom units and features an on-site laundry facility and parking. The property is five blocks south of the River Grove Metra station, three miles from Interstate 294 and less than five miles from O'Hare International Airport. Andrean Angelov and Ryan Engle of Marcus & Millichap’s Chicago Oak …

SIERRA RANCH APARTMENTS IN PHOENIX RECEIVES $21.5M LOAN

PHOENIX – The 582-unit Sierra Ranch Apartments in Phoenix has received a $21.5-million loan. The community is located at 4722 East Bell Road. The property is 95 percent occupied. The 10-year, fixed-rate loan was arranged by Charlie Williams of Berkadia Commercial Mortgage’s Phoenix office through a life company correspondent.

PREFERRED APARTMENT COMMUNITIES TO ACQUIRE MULTIFAMILY PORTFOLIO FOR $182M

ATLANTA — Atlanta-based Preferred Apartment Communities Inc. has acquired four multifamily communities totaling 1,397 units in Nashville, Kansas City, Dallas and Houston. Preferred purchased the assets from four new wholly owned subsidiaries for roughly $182 million. The acquisitions were financed through separate Freddie Mac loans from KeyBank National Association totaling $119.9

STREAMLINE PACKAGING RENEWS INDUSTRIAL LEASE IN FORT WORTH

FORT WORTH — Streamline Packaging Solutions LP has renewed its lease of a a 92,098-square-foot building in the SCG River Park Business Center in the Upper Great Southwest Industrial District. The 500,728-square-foot business center is 95 percent leased. Streamline has been a tenant for five years in Building B, which is fully leased. Blake Anderson and David Eseke of Cassidy Turley represented the tenant.

THOR EQUITIES TAKES 40-UNIT UPPER WEST SIDE RESIDENTIAL PROPERTY

NEW YORK CITY — Thor Equities has acquired a six-story pre-war residential property located at 840 West End Ave. in New York City’s Upper West Side. Built in 1910, the property features 40 residential units and close proximity to Riverside Park, a 330-acre landscaped, waterfront park. Mesa West Capital provided the acquisition loan. Steve Vegh of Westwood Realty Associates brokered the transaction. The seller and acquisition price were not

GE OIL & GAS TO OPEN MANUFACTURING FACILITY IN JACKSONVILLE

JACKSONVILLE, FLA. — GE Oil & Gas plans to soon open its new 510,000-square-foot manufacturing facility in Jacksonville’s Westside submarket. The property will be located at AllianceFlorida at Cecil Commerce Center. The developer of the asset is Hillwood Property Investments, which will develop the property on land owned by the city of Jacksonville. The new facility will manufacture GE’s Mooney regulators and Becker control valves for the energy industry. The property will …

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