ELMWOOD PARK, N.J. — Marcus & Millichap has arranged the $1.5 million sale of three United States Postal Service branches located in Normandy Beach, Roselle Park and Florence. Michael Lombardi, director of Marcus & Millichap’s net leased properties group, and Julienne Pape, an associate, marketed the three properties as part of a larger portfolio of post offices on behalf of the seller, a private investor. Lombardi and Pape also represented the buyer in the sale of the Normandy Beach post offices.
SANTA MONICA, CALIF. — Deluxe Entertainment has leased a 65,000-square-foot production facility in Santa Monica. The facility is located at 3401 Exposition Blvd. It was initially built in 1961 as the headquarters and manufacturing facility for the American Shower Door Company. The building has been used as a sound stage for movies and television since the mid-‘90s. It was purchased by Hudson Pacific Properties this past May. The company is renovating and redeveloping the facility for Deluxe, which plans to move in during the first quarter of 2014. Deluxe is owned by Deluxe Entertainment Services Group, a wholly owned subsidiary of MacAndrews & Forbes Holdings
SACRAMENTO, CALIF. – A seven-property industrial and flex office portfolio has received $38 million in financing. The portfolio includes a total of more than 1 million square feet throughout California, Washington, Colorado and Missouri. The portfolio includes: Sunrise Business Center in Rancho Cordova, as well as Bradshaw Business Parkand Fruitridge Industrial Center in Sacramento, Calif.; Andover Executive Park in Tukwila and West Valley Distribution Center in Kent, Wash.; and Inverness Business Park in Englewood, Colo. The portfolio is 52 percent leased. Financing was arranged by HFF’s Lloyd Minten, Paul Brindley and Tom Wilson. They worked on behalf of a joint venture between a subsidiary of Oaktree Capital Management and ScanlanKemperBard Companies. The adjustable-rate loan was placed with Latitude Management Real Estate Investors. The loan’s proceeds were used to acquire the portfolio.
HANOVER, MD. — Cushman & Wakefield has arranged a new 11,106-square-foot lease for Nexius Solutions Inc. at 7550 Teague Road within the Arundel Mills Corporate Park in Hanover, about 15 miles southwest of Baltimore. AMCP-2 LLC owns the office property. Richard Thomas and Charlie Beck of Cushman & Wakefield represented the tenant in the lease deal. Nexius, a wireless services and software solutions provider, employs approximately 70 people locally.
WADENA, MINN. — Kraus-Anderson Construction Co. has begun construction of the new $12 million Maslowski Wellness and Research Center in Wadena, a city in western Minnesota. The facility will combine a community center and swimming pool, both of which were destroyed by a hurricane that wiped out 20 city blocks of Wadena on June 17, 2010. The 52,500-square-foot wellness center will include a gymnasium, indoor swimming pool, fitness center, racquetball courts and community meeting spaces. Designed by Minneapolis-based Steve Miller Architects, the two-story facility is slated for a fall 2014 completion.
PROVIDENCE, R.I. — Washington Trust’s commercial real estate group has provided $19 million in financing to Foundry ALCO Members LLC for its acquisition of the five-building American Locomotive (ALCO) Complex in Providence. The brick ALCO buildings, originally constructed as a locomotive factory in 1901, are located on 11.8 acres at 68 Hemlock and 51 Valley streets. The 200,000-square-foot property was redeveloped into an office complex in 2006-2009 and is now 70 percent leased. Tenants at ALCO include law firms, an engineering company and the Rhode Island Economic Development Corp. The largest tenant in the complex is United Natural Foods Inc., a wholesale natural food distributor in the United States. Washington Trust led the financing, which included funding from Rockland Trust.
SACRAMENTO, CALIF. – A seven-property industrial and flex office portfolio has received $38 million in financing. The portfolio includes a total of more than 1 million square feet throughout California, Washington, Colorado and Missouri. The portfolio includes: Sunrise Business Center in Rancho Cordova, as well as Bradshaw Business Park and Fruitridge Industrial Center in Sacramento, Calif.; Andover Executive Park in Tukwila and West Valley Distribution Center in Kent, Wash.; and Inverness Business Park in Englewood, Colo. The portfolio is 52 percent leased. Financing was arranged by HFF’s Lloyd Minten, Paul Brindley and Tom Wilson. They worked on behalf of a joint venture between a subsidiary of Oaktree Capital Management and ScanlanKemperBard Companies. The adjustable-rate loan was placed with Latitude Management Real Estate Investors. The loan’s proceeds were used to acquire the portfolio.
LAS VEGAS – A 13,000-square-foot office building in Las Vegas has sold to Daniel Negari, CEO of XYZ.com LLC, for an undisclosed sum. The building is located at 2121 E. Tropicana. plans to transform the building into college/office space that will house employees working on his newly acquired domain extensions, .xyz and .College. The building, which is currently named BLOKHAUS, will be rebranded as XYZHAUS. Negari was represented by CBRE’s Marlene Fujita Winkel. The Seller, 2121-HAUS, LLC, was represented by Charles Moore and Ashley Kolaczynski, also of CBRE.
SCOTTSDALE, ARIZ. – A trio of units within the Mountain View Office Suites in Scottsdale has sold to SH Property LLC for $2.1 million. The 10,137-square-foot medical office building is located at 9787 N. 91st Street. It was fully leased at the time of sale. The building is anchored by Scottsdale Endoscopy Center. SH Property represented by Bob Winegar and Lance Richards of Pierpont Equity Group. The seller, Phaedrus LLC, was represented by Andrew Fosberg and Steve Fernandez of CBRE’s Phoenix office.
ATLANTA — Scott & Associates Inc. has acquired Circle 75 Office Park, a three-building office complex totaling 710,000 square feet. The office park is located on Circle 75 Parkway in Atlanta’s Cumberland/Galleria submarket. This is the first time the property has traded hands in more than 30 years, according to Scott & Associates. SK Commercial Realty will handle the leasing, management and project consulting services for the property.