DENVER — Marcus & Millichap has arranged the sale of a flex industrial building located at 1919 Federal Blvd. in Denver. A private investor sold the asset to an undisclosed buyer for $2.5 million. Situated on 0.4 acres, the 11,600-square-foot property features ample clear heights. Jake Klimas and Brandon Kramer of Marcus & Millichap represented the seller in the deal.
WINOOSKI, VT. — CBRE has arranged the sale of Spinner Place, a 308-bed student housing community located near the University of Vermont in Winooski. The community offers shared amenities including a media room, fitness center and recreation room. The property also features ground-floor retail space that is leased to The Archives Bar, Champlain Nails, Asian Bistro and La Bella Skin Boutique. Jaclyn Fitts, William Vonderfecht, Casey Schaefer, John Reed and Jack Reed of CBRE represented the undisclosed seller in the transaction. Property Income Advisors Inc. represented the undisclosed buyer. Mike Bryant and Brad Peters, also with CBRE, arranged acquisition financing on behalf of the buyer.
BERWYN, PA. — Maryland-based developer Bozzuto has completed Ember at Berwyn, a 250-unit apartment complex located about 25 miles northwest of Philadelphia. Ember at Berwyn features studio, one-, two- and three-bedroom floor plans that range in size from 438 to 1,476 square feet. Amenities include a fitness center with a yoga studio, business center with coworking space and conference rooms, courtyards with grilling and dining stations, a dog park, pool and a social lounge. Bozzuto developed the project via a joint venture with developer ECHO Realty. Rents start at $1,910 per month for a studio apartment.
NORMAL, ILL. — JLL Capital Markets has brokered the sale of The Edge on Hovey, a 481-bed student housing community located adjacent to Illinois State University in Normal. The sales price was undisclosed. Built in 2004, the property features two-, three- and four-bedroom units averaging 1,470 square feet. The fully furnished units feature private walk-in closets, bed-bath parity and nine-foot ceilings. Amenities include a lobby, cyber lounge, fitness center, private study rooms, high-speed internet and controlled building access. Recently renovated, the community still presents the opportunity for value-add interior upgrades, according to JLL. The Edge also features a parking garage with 549 spaces and a 5,586-square-foot retail space. Scott Clifton, Teddy Leatherman, Kevin Kazlow, Jack Goldberger and Grace Picchiotti of JLL represented the seller, an entity of Blue Vista Capital Management. FPA Multifamily was the buyer.
WHITEHALL, WIS. — Kraus-Anderson (KA) has completed construction of Gundersen Tri-County Hospital, a new hospital and renovated clinic for Gundersen Health System in Whitehall, a small town in western Wisconsin. The new facility replaces the current 60-year-old hospital serving Whitehall, Blair, Independence and surrounding communities. KA also renovated the 17,000-square-foot clinic. Designed by Groth Design Group, the two-story, 68,000-square-foot hospital features 31 private patient rooms, a trauma center and helipad landing zone. Additionally, the project features an ER, imaging, lab, pharmacy, surgical, dietary, rehabilitation and transitional care offerings. A new ambulance and maintenance building is also on the site.
STREAMWOOD, ILL. — Marcus & Millichap has arranged the $10.2 million sale of Westview Center in Streamwood, a northwest suburb of Chicago. The 114,735-square-foot shopping center is fully occupied. Tenants include AutoZone, Dollar Tree, Oak Street Health, Chuck E. Cheese, American Freight and H&R Block. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a limited liability company. Mark Ruble, Chris Lind and Brennan Clegg of Marcus & Millichap represented the buyer, a Midwest-based private investment group. The asset sold for 96 percent of the list price.
INDEPENDENCE, MO. — Hullmark Construction is underway on a 34,000-square-foot industrial build-to-suit at MetroEast Commerce Center in Independence, an eastern suburb of Kansas City. The developer is a local partnership doing business as Tamiami LLC, and the tenant is a medical transport company. Completion is slated for fall 2024. John Hassler of Newmark Zimmer handled lease negotiations and is also marketing sites within the industrial park on behalf of the developer.
SOUTHFIELD, MICH. — Electrical contractor Hatzel & Buehler has signed a 16,288-square-foot office lease at 2 Corporate Drive in Southfield. The tenant is moving its Michigan location from Livonia. Gary Grochowski and Bryan Barnas of Colliers Detroit represented the landlord, S&N Southfield LLC. Colliers Detroit previously occupied the space for over 20 years.
WILMINGTON, MASS. — Boston-based mortgage banking firm EagleBridge Capital has arranged a $30 million loan for the refinancing of a 211,400-square-foot flex property in Wilmington, about 15 miles north of the state capital. The two-story buildings at 181 and 187 Ballardvale St. sit on a combined 15.4 acres and house a mix of office and research and development space. Ted Sidel of EagleBridge arranged the debt. The borrower and direct lender were not disclosed. The complex was 95 percent leased to 17 tenants at the time of the loan closing.
NEW YORK CITY — LifeSpire Inc., an educational organization that supports individuals with developmental disabilities, has signed a 20,026-square-foot office lease in Midtown Manhattan. The tenant is relocating from the Financial District to the fourth and fifth floors of the 462 Seventh Avenue, a 23-story building that was originally constructed in 1925. Darell Handler of Handler Real Estate Organization represented Lifespire in the lease negotiations. Michael Heaner and Sam Stein represented the landlord, The Kaufman Organization, on an internal basis.
