ORLANDO, FLA. — Miami-based Limestone Asset Management and Orion Real Estate Group have purchased Millenia Plaza, a 411,503-square-foot shopping center located at 4403-4467 Millenia Plaza Way in Orlando. The seller, North American Development Group (doing business as Millenia Plaza LLC), sold the property for $74.1 million. Brad Peterson and Whitaker Leonhardt of JLL represented the seller in the transaction. Ocean Bank provided an undisclosed amount of acquisition financing in the transaction. Millenia Plaza’s tenant roster includes The Home Depot, BJ’s Wholesale Club, Ashley Furniture, Dick’s Sporting Goods, Total Wine & More and Ross Dress for Less.
BIRMINGHAM, ALA. — Red Bank, N.J.-based First National Realty Partners has acquired Inverness Corners, a 242,000-square-foot retail center located in Birmingham, for an undisclosed price. A 54,000-square-foot Winn-Dixie and a 92,600-square-foot Kohl’s anchor the property. Additional tenants include Orangetheory Fitness, Mellow Mushroom, Tropical Café, Wing Stop, H&R Block and Enterprise. Zach Taylor of Marcus & Millichap’s Institutional Property Advisors (IPA) division represented the undisclosed seller in the transaction.
PARK RIDGE, N.J. — Locally based firm Claremont Development has sold The James, a 240-unit apartment community located at 87 Madison Ave. in the Northern New Jersey community of Park Ridge. The sales price was $130 million. Named after area native and actor James Gandolfini, the five-story property offers studio, one- and two-bedroom units, including 20 residences that are reserved as affordable housing. The James also includes 17,600 square feet of retail space and amenities such as a pool, fitness center, coffee bar, coworking spaces and multiple entertainment lounges. Brian Whitmer, Niko Nicolaou and Ryan Dowd of Cushman & Wakefield represented Claremont Development in the transaction. The buyer was not disclosed.
FISHERS, IND. — In a joint venture with a fund managed by DRA Advisors LLC, M & J Wilkow has purchased a 350,000-square-foot office campus in the Indianapolis suburb of Fishers. Known as 11100 USA Parkway, the property is situated near The Yard at Fishers District, a new mixed-use development. The nearly 40-acre office campus, developed in 1990 and 1995, features a cafeteria, auditorium, fitness center and conference space. Tenants include Navient Solutions, First Data Resource and Pendrick Capital Partners. John Robinson, Abby Zito and Kevin Gillihan of JLL represented the seller, Navient, which will remain a tenant in the building. JLL will also oversee leasing efforts on behalf of new ownership.
ST. LOUIS — Shive-Hattery has acquired KdG Architects, a 20-person architecture, engineering and interior design firm based in St. Louis. KdG’s national portfolio of hospitality and gaming projects was attractive to Shive-Hattery, which is currently serving these industries regionally, according to President Jennifer Bennett. KdG will operate as a division of Shive-Hattery, which is a 450-person architecture and engineering firm headquartered in Iowa with 14 design offices in Arizona, Illinois, Indiana, Iowa, Missouri, Nebraska, Ohio and Wisconsin.
LAWRENCE, KAN. — Marcus & Millichap has brokered the sale of Lawrence Marketplace in Lawrence for $10.5 million. The 90,982-square-foot retail center is located at 2525 Iowa St. Anchor tenants at the fully occupied property include Planet Fitness and Office Depot. Zach Turner, Scott Wiles, Mark Ruble, Erin Patton, Craig Fuller and Chris Lind of Marcus & Millichap represented the seller, a Kansas-based limited liability company. The team also secured the buyer, a New York-based limited liability company.
LAKEVILLE, MINN. — Upland Real Estate Group has arranged the $4.5 million sale of a retail property occupied by KinderCare Learning Center in the Minneapolis suburb of Lakeville. The building is part of Crossroads of Lakeville, a 127,070-square-foot shopping center anchored by Cub Foods. Deborah Vannelli, Keith Sturm and Amanda Leathers of Upland brokered the sale. A local buyer purchased the asset while completing a 1031 exchange. KinderCare operates more than 1,500 early childcare centers in 40 states.
ITHACA, N.Y. — Hunter Hotel Advisors, an Atlanta-based hospitality brokerage firm, has arranged the $11.2 million sale of the 107-room Courtyard Ithaca Airport Hotel in upstate New York. The select-service property is situated adjacent to Ithaca Tompkins International Airport and Cornell University’s campus. Rochester, N.Y.-based owner-operator DelMonte Hotel Group sold the property to Skyline Investments Inc. Mayank Patel of Hunter Hotel Advisors brokered the deal.
TEMPE, ARIZ. — Mesa West Capital has provided KB Investment & Development Co. with $108 million in first mortgage debt for its acquisition of an apartment community in Tempe. The five-year, floating-rate loan is for Skywater at Town Lake, located at 601 W. Rio Salado Parkway. Built in 2015, the five-acre property offers 328 apartments in a mix of studio, one-, two- and three-bedroom floor plans spread across five four-story, elevator-served buildings. Community amenities include a sundeck; swimming pool; top-floor resident clubhouse with a full kitchen, pool tables and wrap-around balcony; outdoor kitchen and entertainment space with firepits and games; two-story fitness center with a yoga studio and Peloton bikes; electric vehicle charging stations; bike/paddle board/kayak storage room; underground parking structure; and onsite coffee shop. At the time of closing, the property was 96.6 percent leased. Rocco Mandala of CBRE arranged the financing.
KENT, WASH. — Colliers has arranged the sale of two industrial properties in Kent. Holman Logistics sold the assets to Lift Partners for $106.1 million. Matt McGregor and Bill Condon of Colliers represented both parties in the off-market transaction. Totaling 381,790 square feet, the buildings are located at 22434 and 22408 76th Ave. South. The properties feature a mix of dock-high and grade-level loading doors, 200,000 square feet of excess yard and rail access to the Burlington Northern Santa Fe line. The buyer has agreed to a 12-month leaseback of the properties with the seller, which will continue to operate in the current buildings while it completes construction and relocation plans for new facilities in Fredrickson and Sumner.