GLENMONT, MD. — Elion Partners and Buchanan Partners have entered a joint venture to acquire a 164-unit multifamily community and adjacent 3.5-acre parcel in Glenmont for $34 million. The joint venture plans to renovate the existing asset and develop 254 additional units, bringing the project total to $100 million. Construction at the property, located about 12 miles north of Washington, D.C., is set to begin early next year. This is the third joint venture between Elion and Buchanan.
WINNSBORO, S.C. — Healthcare US Co., a Chinese foam manufacturer, has bought a 676,548-square-foot industrial facility that sits on 150.5 acres in Winnsboro. The company plans to create 250 jobs and use the facility to produce memory foam for bedding and other products. The property is located at 1 Guardian Way, about 30 miles north of Columbia. Shaun Kirchin and Doug Faris of Philadelphia-based Binswanger represented the seller, Knauf Insulation, in the transaction. The sales price was not disclosed.
NEW ROCHELLE, N.Y. — HFF has negotiated the $259.4 million sale of Halstead New Rochelle Metro North, a 40-story apartment tower in New Rochelle. Completed in 2007, the 588-unit property consists of a mix of market-rate studio through three-bedroom units. Jose Cruz, Stephen Simonelli, Kevin O’Hearn, Michael Oliver, JB Bruno and Andrew Scandalios of HFF represented the seller, The DSF Group, in the transaction. The buyers were Azure Partners and Harbor Group International.
FORT LAUDERDALE, FLA. — The Shopping Center Group (TSCG) has brokered the partial sale of Crossroads Square in Fort Lauderdale for $21.2 million. The transaction included 81,500 square feet of the 222,540-square-foot center. An affiliate of Boston-based Longpoint Realty Partners bought a portion that spans three outparcels and three buildings with tenants including Party City, Goodwill and several dining and service options. Lowe’s Home Improvement, CubeSmart, Chevron, Red Lobster and Taco Bell were not included in the transaction. Crossroads Square was 99 percent leased at the time of the sale. Anthony Blanco of TSCG led the team that represented the seller, an affiliate of Regency Centers, in the transaction.
JACKSONVILLE, FLA. — Tower Investments has sold a 588,000-square-foot industrial warehouse in west Jacksonville for $15 million to IP Capital Partners. The warehouse is leased to Fanatics Inc. and Conlan Tire Co. The property is situated at 5245 Commonwealth Ave. on 28 acres. IP Capital Partners plans to reposition the property. Bryan Bartlett and John Richardson of Newmark Phoenix Realty Group represented the seller in the transaction.
BOSTON — AWH Partners has acquired a three-property Holiday Inn portfolio in Boston. The properties include the Holiday Inn & Suites Boston – Peabody, Holiday Inn & Suites Marlborough and the Holiday Inn Boston-Dedham Hotel and Conference Center. The sales price was not disclosed. Spire Hospitality, AWH’s hospitality management company, will manage the properties. The hotels have a combined 555 guest rooms as well as 8,000 square feet of event and meeting space.
SAYREVILLE, N.J. — Marcus & Millichap has brokered the $6.7 million sale of QuickChek Plaza, a 25,800-square-foot retail center in Sayreville. The property is located at 881 Main St. Alan Cafiero, Brent Hyldahl, Ben Sgambati, and Michael DeVita in Marcus & Millichap’s New Jersey office represented the seller, a developer, in the transaction. The buyer was a limited liability company.
FAIRFIELD, N.J. — Avison Young has arranged the sale of a 42,000-square-foot industrial facility in Fairfield. The sales price was not disclosed. Located at 2 Gardener Road, the property is the former headquarters of security inspection systems company Autoclear LLC. Matthew C. Turse, Timothy J. Cadigan and John Recchia of Avison Young represented the seller, Autoclear, in the transaction. The buyer was Third Wayne LLC. Avison Young also secured a five-year lease for Autoclear at a new 21,888-square-foot facility located at 10A Bloomfield Ave. in Pine Brook, New Jersey.
MINNEAPOLIS — Altus Properties has sold a four-building, 612,960-square-foot industrial portfolio in metro Minneapolis for $40.4 million. A fund managed by DRA Advisors LLC purchased the portfolio. All four buildings are fully occupied. The properties include a 118,125-square-foot building within Nicollet Business Center in Burnsville; a 322,752-square-foot facility within Boone Avenue Distribution Center in Brooklyn Park; a 50,400-square-foot structure within Cedar Lake Business Center in St. Louis Park; and a 121,684-square-foot building within Bloomington Business Center in Bloomington. Judd Welliver, Ryan Watts, Sonja Dusil and Tom Holtz of CBRE represented the seller.
DALLAS — New York City-based investment firm JMC Holdings LLC has acquired Lakeside Square, a 410,000-square-foot office tower located along the Lyndon B. Johnson Freeway in north Dallas. The Class A, 18-story property was built in 1985 and offers amenities such as a fitness center, a deli and multiple conference rooms. JMC Holdings will invest more than $20 million in capital improvements to the building. The seller was California-based Younan Properties. The sales price was not disclosed.