NEW YORK CITY — Applause, a Massachusetts-based provider of digital testing and quality control services, has signed a 17,500-square-foot office lease at 355 Lexington Avenue in Manhattan. Chris Foerch of Savills represented the tenant, which plans to take occupancy of the entire seventh floor later this month, in the lease negotiations. Robert Steinman internally represented the landlord, Rudin, which originally developed the 270,000-square-foot building in 1959.
NASHVILLE, TENN. — Newmark has brokered the $96.5 million sale of Alta Union, a newly constructed, 283-unit apartment community located at 5800 Centennial Blvd. in Nashville. Weinstein Properties purchased the property from the developer, Wood Partners. Tarek El Gammal and Vincent Lefler of Newmark represented the seller in the transaction. Located in The Nations neighborhood, Alta Union features a two-story clubhouse with outdoor terraces on the second level, a swimming pool, courtyard, private offices for rent and individual and group coworking spaces.
CALHOUN, GA. — Seefried Properties has purchased a 56-acre site in Calhoun with plans to develop Grove 75 Logistics Center, a 738,720-square-foot industrial facility. The spec facility is expected to be completed in the third quarter of 2023. The Class A building will feature 40-foot clear heights, 167 dock-high cross-docking doors (including four drive-in doors), trailer and auto parking spaces, LED interior lighting, ESFR sprinklers and office space. Located on Union Grove Road, the site is located a half-mile from I-75 and near the newly developed Appalachian Regional Port. Project partners include general contractor The Conlan Co., civil engineer Southland Engineering and architectural firm Atlas Collaborative. Joseph Kriss, Tripp Ausband and Doug Smith of Seefried will handle the marketing and leasing for Grove 75 Logistics Center.
FRANKLIN, TENN. — Foundry Commercial has arranged a 125,008-square-foot office lease at McEwen Northside, a 45-acre mixed-use campus in Nashville’s Cool Springs submarket. Located in the city of Franklin, the development features 1 million square feet of office space, 113,000 square feet of restaurants and specialty retail, a 150-room hotel, 770 luxury apartment units and green spaces. The tenant, procurement and supply chain management organization OMNIA Partners, will occupy all five floors of office space at the project’s Block A building starting in early 2023. The building also houses 19,000 square feet of retail and restaurant space on the ground level. OMNIA is relocating from its current headquarters, which is also in Franklin. Vince Dunavant of Foundry Commercial represented the tenant in the lease negotiations. The landlord is Boyle Investment Co., co-developer of McEwen Northside alongside Northwood Ravin.
NORFOLK, VA. — Cushman & Wakefield | Thalhimer has secured the $20 million sale-leaseback of a 346,000-square-foot distribution facility located at 1129 Production Road in Norfolk. The undisclosed seller leased back a portion of the property, which is situated on a 18.3-acre site within Norfolk Industrial Park. An entity doing business as 1129 Production Road LLC purchased the property as part of a 1031 exchange. Clark Simpson, Erik Conradi, Geoff Poston and Clay Culbreth of Thalhimer represented the buyer in the transaction. Poston is the exclusive leasing representative for the property and is marketing the remaining industrial space for lease. Christina Erman, also with Thalhimer, has been named portfolio manager of the facility.
SPRINGFIELD, TENN. — Colliers Mortgage has provided a $5.2 million acquisition loan for Forest Park Apartments, an 80-unit, market-rate multifamily community in Springfield, about 30 miles north of Nashville. Zach Shope of Colliers Mortgage’s Atlanta office originated the 10-year, Fannie Mae loan on behalf of the repeat borrower client, an entity doing business in this transaction as Forest Park TN LLC. Built in 1978, Forest Park comprises six two-story apartment buildings and features a playground and basketball court, according to Apartments.com.
NEWPORT BEACH, CALIF. — Newport Beach-based Provender Partners has purchased a four-property food production and distribution portfolio totaling 483,000 square feet from SpartanNash for $29.9 million. The portfolio is made up of four temperature-controlled buildings. These include a 171,371-square-foot food processing and distribution facility in Indianapolis; a 160,986-square-foot food distribution facility in Minot, N.D.; a 103,838-square-foot grocery distribution property in Newcomerstown, Ohio; and a 42,124-square-foot frozen and refrigerated distribution building in Lakeland, Fla. All of the buildings were constructed between 1990 and 2005 and feature clear heights of 30 feet or higher. Provender plans a multi-million-dollar capital improvements program across the portfolio, including a full refrigeration refit, roof repairs, and interior and exterior upgrades to meet the demands of today’s food companies. Chuck Rosien of JLL represented the seller. With this acquisition, Provender has purchased 1.8 million square feet of cold storage and temperature-controlled facilities in 2022.
DOWNERS GROVE, ILL. — A partnership between Frontier Development & Hospitality Group LLC, Sun Development & Management Corp. and 3H Group Inc. has acquired the 254-room Chicago Marriott Suites Downers Grove hotel. The seven-story hotel is located at 1500 Opus Place in the Chicago suburb of Downers Grove. Amenities at the property include 3,400 square feet of meeting space, indoor and outdoor pools, a fitness center, restaurant and bar, onsite parking and in-room dining. The hotel is scheduled to undergo a $10 million capital improvements plan. The seller and sales price were undisclosed.
SALINA, KAN. — Lument has provided a $21.6 million Fannie Mae loan for the refinancing of Eaglecrest Retirement Community in Salina, a city in central Kansas. Constructed in 2004, the independent and assisted living community features 102 units. Bill Wilson, Doug Harper and Casey Moore of Lument originated the loan. Midwest Health Inc. manages the property.
CHICAGO — Mid-America Real Estate Corp. has brokered the sale of Shops of Beverly, a 21,571-square-foot retail center in Chicago’s Beverly neighborhood. The fully leased property is home to tenants such as Chipotle, Chase Bank and For Eyes. Rick Drogosz and Emily Gadomski of Mid-America represented the seller, Sperry Equities. A private investor purchased the asset for an undisclosed price.