ASHEVILLE, N.C. AND COLUMBIA, S.C. — University Park, Fla.-based Benderson Development has purchased two single-tenant retail properties located at 120 Merrimon Ave. in Asheville and 4516 Forest Drive in Columbia. Both properties are leased to grocer Trader Joe’s. The seller for both stores is Los Angeles-based CIM Group. The sales price were not disclosed.
DALLAS — Lee & Associates has brokered the sale of a 40,546-square-foot industrial building in East Dallas. According to LoopNet Inc., the property at 3700 Dilido Road was originally built in 2002. Taylor Stell and Brett Lewis of Lee & Associates represented the buyer and seller, both of which requested anonymity, in the transaction. The sales price was also not disclosed.
PHILADELPHIA — Breakthrough Properties, which is a joint venture between New York City-based Tishman Speyer and biotechnology investment firm Bellco Capital, has received a $130 million construction loan for a life sciences project in Philadelphia. The site at 2300 Market St. in the Center City District is adjacent to both the University of Pennsylvania and Drexel University and will house an eight-story, 223,000-square-foot building. Amenities will include a café and lounge, fitness center and elevated terraces. D2 Capital Advisors arranged the loan through Corebridge Financial on behalf of Breakthrough Properties. Construction of the building shell is expected to be complete by next summer, at which point tenant build-outs will commence.
NEW YORK CITY — The Durst Organization has completed a 163-unit affordable housing project at 3-24 27th Ave. in the Astoria neighborhood of Queens. Designed by Dattner Architects, the building rises 14 stories and offers a fitness center, tenant lounge and onsite laundry facilities. Rents start at $665 per month for a one-bedroom unit. According to 6sqft.com, that figure reflects an income restriction level of 40 and 60 percent of the area median income.
BAY SHORE, N.Y. — Duro Dyne National Corp., a manufacturer of sheet metal accessories and equipment for the HVAC industry, has extended its single-tenant lease at 81 Spence St., a 128,600-square-foot industrial building located in the Long Island community of Bay Shore. The extension runs through 2035. A partnership between Metropolitan Realty Associates and Angelo Gordon owns the building, which features a clear height of 24 feet, 10 loading docks and two drive-in doors. No outside brokers were involved in the deal.
MIDDLETOWN, DEL. — Regional grocer Weis Markets will open a 64,000-square-foot store and serve as the anchor tenant at Bayberry Town Center, a 280,000-square-foot development in Middletown. The site is located within the 1,500-acre Village of Bayberry master-planned community and will also house 31,000 square feet of office space and multiple open green spaces, as well as 145 townhomes. Construction is slated to begin this fall and to be complete by 2025. Blenheim Group is the master developer of Village of Bayberry.
PARSIPPANY, N.J. — NAI James E. Hanson has negotiated the $2.8 million sale of a 22,798-square-foot office building in the Northern New Jersey community of Parsippany. The building is one of two twin structures within the Parsippany Boulevard Commons complex, which recently underwent a capital improvement program. Josh Levering of NAI Hanson represented the seller in the transaction. Chris Hovanec of Colliers represented the buyer, The Mental Health Association of Essex & Morris County.
COLUMBUS, OHIO — Four retailers are opening new locations at Easton Town Center in Columbus. Sustainable shoe company Allbirds is scheduled to open Thursday, May 11. Activewear retailer Alo Yoga is slated to open in June. FOUNT, a leather bag company, is debuting this spring. Jo Malone London, a British fragrance and lifestyle brand, is slated to join the tenant lineup this fall. Additionally, there are three restaurants that have recently opened at Easton Town Center. They include Ivan Kane’s Forty Deuce, Kona Grill and Weenie Wonder. Developed by The Georgetown Co., L Brands and Steiner + Associates, Easton Town Center is a lifestyle center that is part of the larger mixed-use destination known as Easton.
FRENCH LICK, IND. — Marcus & Millichap has arranged the $7.5 million sale of the Best Western Plus French Lick, a 68-room hotel in French Lick, a city in southern Indiana. Built in 2015 and located at 613 Arnold F Habig Blvd., the three-story property features amenities such as a business center, indoor pool, fitness center and complimentary breakfast. Scott Havericak and Robert Hunter of Marcus & Millichap represented the undisclosed borrower. The duo also procured the buyer, an Indiana-based limited liability company.
CHICAGO — Heartland Alliance has signed a 20,941-square-foot office lease at 55 East Monroe, a 1.3 million-square-foot building in Chicago. The Chicago-based nonprofit, which works to address poverty, will relocate from 208 South LaSalle later this year. The organization is downsizing and upgrading its space by taking a new speculative suite at 55 East Monroe. Heartland’s current building, 208 South LaSalle, is slated to be transformed into residential space. Andrew Davidson and David Burkards of Transwestern Real Estate Services represented the tenant, while Christian Domin of GlenStar represented the undisclosed landlord.
