LAWRENCE, KAN. — Northmarq has arranged the sale of 901 Lofts in Lawrence for $11.5 million. The apartment building rises seven stories with 55 units. Built in 2011, the property at 901 New Hampshire St. includes 20,843 square feet of commercial space. Jeff Lamott and Gabe Tovar of Northmarq represented the seller, First Management Inc. Buyer information was not provided.
QUAKERTOWN, PA. — New Jersey-based investment firm First National Realty Partners (FNRP) has acquired Richland Marketplace, a 162,000-square-foot shopping center in Quakertown, about 50 miles north of Philadelphia. Built in 2009, the center houses tenants such as Aldi, Best Buy, PetSmart, Planet Fitness, Staples, Ulta, Visionworks, Sally Beauty and Skechers. Colin Behr, Jim Galbally, Chris Munley and James Graf of JLL represented the seller, KPR, in the transaction.
GAHANNA, OHIO — PEBB Enterprises has sold Hunter’s Ridge Shopping Center in Gahanna near Columbus for $10 million. WB Ventures LLC purchased the 84,724-square-foot retail center, which is 93 percent leased. Planet Fitness and Goodwill are the anchor tenants. PEBB acquired the asset in 2018. The property was originally built in 1975. Evan Halkias and Hank Davis of Cushman & Wakefield represented PEBB in the sale.
ADDISON, ILL. — Clear Height Properties has acquired a 34,700-square-foot industrial building in Addison, a western suburb of Chicago, for an undisclosed price. The property at 1404 W. Fullerton Ave. features convenient access to I-355 between I-290 and Route 83. The facility features six exterior docks, seven drive-thru service bays and an additional 1.5 acres of secured land for outdoor storage or trailer parking. Nick Saraceno and Howard Caplan of CTK Chicago Partners represented the undisclosed seller. Robin Stolberg and Dominic Carbonari of JLL are marketing the property for lease.
PLAINFIELD, ILL. — Marcus & Millichap has brokered the $1.9 million sale of a Chili’s ground lease in Plainfield, about 40 miles southwest of Chicago. The restaurant building spans 6,150 square feet. The property at 12740 Illinois Route 59 is situated near Target, Ross Dress for Less and Five Below stores. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, an individual trust. The duo also secured and represented the buyer, a Chicagoland private investor and limited liability company. The property sold at the full list price.
RIDGEVILLE, S.C. — Portman Industrial has broken ground on Phase II of Campus 4 within Camp Hall Commerce Park in Ridgeville, a suburb of Charleston. The second phase comprises a 1.1 million-square-foot industrial facility situated on 110.6 acres near the Port of Charleston and adjacent to Volvo Cars’ manufacturing plant. The cross-dock facility will feature tilt-up concrete walls, a structural steel frame, TPO roof, 40-foot clear heights, 215 dock doors, four drive-in doors, 759 car spaces and 851 trailer spaces. The design-build team includes general contractor Frampton Construction, architect McMillan Pazdan Smith and civil engineer Thomas & Hutton. Lee Allen and Kevin Ross of JLL’s Charleston office are handling leasing for the project. Phase II is set for a summer 2023 delivery. Phase I, which comprises three buildings spanning 940,000 square feet, is currently under construction and is more than 60 percent preleased.
RICHMOND, MAINE — Marcus & Millichap has brokered the sale of Mid-Maine Storage, a 157-unit self-storage facility located on the southern outskirts of Augusta. The property comprises 154 non-climate-controlled units and three garage units for a total of 17,410 net rentable square feet. Luke Dawley, Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Jim Koury of Marcus & Millichap assisted in closing the deal as the broker of record.
HANOVER, N.H. — Dartmouth College will develop a residence hall for undergraduate students on the north end of the institution’s campus in Hanover. The community will feature 128 apartment-style units with a total of 400 beds. The project is set to include indoor and outdoor common areas, fitness facilities and shuttle service to campus. Further details, including a timeline for construction and potential partnership with a private developer, were not announced.
OCALA, FLA. — BSD Capital recently purchased a former Sears department store and Sears Automotive Center in Ocala spanning 148,857 square feet. An affiliate of Seritage Growth Properties, the spun-off REIT from Sears Holding Corp., sold the buildings at a private auction for $3.2 million. Louie Granteed of Tobin Real Estate represented BSD Capital in the acquisition and is leading leasing efforts for the new owner’s redevelopment that will convert the property to a retail and entertainment destination. Granteed says that prospective tenants for the redevelopment include grocers, big-box retailers and entertainment operators. Located on 12 acres near I-75, the former Sears once served as an anchor to Paddock Mall, an enclosed regional mall that is still open and operating with tenants including Belk, Macy’s, JCPenney and more than 90 specialty stores.
EAST STROUDSBURG, PA. — G.S. Wilcox & Co. has arranged $17 million in construction-to-permanent financing for a 130,435-square-foot industrial project in the Lehigh Valley community of East Stroudsburg. Wesley Wilcox and Al Raymond of G.S. Wilcox arranged the loan through a local bank on behalf of the undisclosed borrower. Further details about the project were also not disclosed.
