MORRIS TOWNSHIP, N.J. — Wrightwood Capital has provided a $17 million loan for the acquisition of 138,000-square-foot office building in Morris Township. The Class A facility is located at 465 S. St., which is adjacent to Interstate 287 and is in close proximity to Route 24 and interstates 78, 80 and 280. The borrower was National Business Parks, Inc. The loan was sourced through Bill Fielder of Ridgefield Financial.
ONTARIO AND WALNUT, CALIF. — Irvine, Calif.-based CIP Real Estate has completed the disposition of two multi-tenant business parks to CRP-2 Acquisitions LLC, an affiliate of Colony Realty Partners, for a total consideration of $37.25 million. The properties are Miliken Business Center, a 12-building, 157,711-square-foot property in Ontario, and Brea Canyon Business Park, a five-building, 79,839-square-foot park in Walnut. Michael Hefner, Alan Pekarcik and Dan Vittone of Voit Commercial Brokerage represented CIP in the transaction.
CHARLOTTE, N.C. — Windsor at Greylyn, an affiliate of Boston-based GID Investment Advisors, has acquired Greylyn Business Park, a 648,156-square-foot property in Charlotte, from The Levine Family, for $57 million. The business park features spaces ranging from 500 to 60,000 square feet for office, retail, flex and industrial use. Brad Cherry and Pete Pittroff of Charlotte-based Keystone Partners represented the seller.
CHARLOTTE, N.C. — Windsor at Greylyn, an affiliate of Boston-based GID Investment Advisors, has acquired Greylyn Business Park, a 648,156-square-foot property in Charlotte, from The Levine Family, for $57 million. The business park features spaces ranging from 500 to 60,000 square feet for office, retail, flex and industrial use. Brad Cherry and Pete Pittroff of Charlotte-based Keystone Partners represented the seller.
ALPHARETTA, GA. and TEXARKANA, ARK. — Boise, Idaho-based Spectrus Real Estate has closed four 1031 exchange transactions, totaling $26 million, in Alpharetta; Texarkana; Austin, Texas; and Meridian, Idaho, for San Francisco-based buyers. Mansell Plaza, a 14,473-square-foot retail building in Alpharetta, is located at 1605 Mansell Rd. The property is anchored by Starbucks, Waffle House and The Original Mattress Factory. Texarkana Plaza, an 11,600-square-foot retail center, is located at 131 Arkansas Blvd. The property is leased to five nationally accredited tenants. The buyers of both centers were represented by Stephen Pugh of Alain Pinel Investment Group, and the transactions included the Spectrus Net Lease PLUS program.
LONGWOOD, FLA. — Mr. and Mrs. Bagsiyao of Kissimmee, Fla., have purchased Bethesda at Longwood Assisted Living Care Center, a 90-bed facility in Longwood, from Mr. Neil Buck, for $5 million. The property is located at 480 East Church St. Ken Carriero and Damien Carriero of Marcus & Millichap’s Tampa, Fla., office represented the seller.
FARMINGTON, CONN. — GTJ REIT has purchased 8 Farm Springs Rd. in Farmington for $23.3 million. The two-story, single-tenant office building totals 107,654-square-foot and is situated on 10.53 acres. Located in the Farm Springs/Batterson Park Road corridor with immediate access to Interstate 84. At the time of the sale, the facility was 100 percent leased to the Hartford Fire Insurance Co. Jeffrey Dunne, Patrick Bisceglia, John McCormick, Patrick Mulready and Matthew Innes of CB Richard Ellis represented the seller, 8 Farm Springs Road Associates LLC, in the sale.
FARMINGTON, CONN. — GTJ REIT has purchased 8 Farm Springs Rd. in Farmington for $23.3 million. The two-story, single-tenant office building totals 107,654-square-foot and is situated on 10.53 acres. Located in the Farm Springs/Batterson Park Road corridor with immediate access to Interstate 84. At the time of the sale, the facility was 100 percent leased to the Hartford Fire Insurance Co. Jeffrey Dunne, Patrick Bisceglia, John McCormick, Patrick Mulready and Matthew Innes of CB Richard Ellis represented the seller, 8 Farm Springs Road Associates LLC, in the sale.
MONTGOMERY, N.Y. — Savanna Investment Management is under contract to purchase 282 acres of land in Montgomery. Situated at the conflux of Interstate 84 and New York State Thruway directly adjacent to Stewart International Airport. Savanna plans to develop the Hudson International Business Center, a more than 1 million-square-foot commercial property. The project is also slated to include a 60-room hotel. The purchase was made through Savanna Real Estate Fund I.
CULVER CITY, CALIF. — Los Angeles-based IDS Real Estate Group has acquired a 3.3-acre land parcel within the 1.6 million-square-foot Corporate Pointe office campus in Culver City for the development of a 12-story office tower. The $115 million project will offer 277,607 square feet of office space in 25,200-square-foot, column-free floor plates. Designed by Gene Watanabe of Gensler, the project is slated to meet LEED Silver standards. Steve Walbridge and Eric Olofson of Cushman & Wakefield represented IDS in the acquisition of the property. The acquisition price was not disclosed.