COLLEGEVILLE, PA. — Construction is underway on 399 Arcola Rd., a 14,872-square-foot office building in Collegeville. The two-story building is located within the Providence Corporate Center at the intersections of Route 422 and 29 interchange. Developed by 399 Associates LP, the facility is slated to be complete in second quarter 2008. GVA Smith Mack is the exclusive leasing agent for the building.
COLLEGEVILLE, PA. Construction is underway on 399 Arcola Rd., a 14,872-square-foot office building in Collegeville. The two-story building is located within the Providence Corporate Center at the intersections of Route 422 and 29 interchange. Developed by 399 Associates LP, the facility is slated to be complete in second quarter 2008. GVA Smith Mack is the exclusive leasing agent for the building.
UNION, N.J. David Simson, Ward Greer, Lori Zuck and Marvin Rosenberg of GVA Williams have completed the sale of a 176,600-square-foot warehouse and office facility in Union. The building, which is located at 700 Liberty Ave., was purchased by Bed Bath & Beyond for an undisclosed price from Breeze-Eastern Corp. The buyer plans to convert the warehouse facility into corporate offices for its headquarters. Simson and Greer represented the buyer and Zuck and Rosenberg represented the seller in the disposition.
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.
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.