NEW YORK CITY — A partnership between locally based developer Innovo Property Group and Affinius Capital, which is a partnership between USAA Real Estate and Square Mile Capital Management, has received $334 million in financing for an industrial facility in The Bronx. The financing consists of $250 million in debt from the existing construction lender, Bank OZK, and an $84 million mezzanine loan from PIMCO. The two-story, 1 million-square-foot property at 2505 Bruckner Ave. was delivered in 2022 and features clear heights of 28 to 32 feet, 106 loading doors and 664 interior parking spaces. At the time of the loan closings, the facility was 53 percent leased to an undisclosed, global e-commerce firm.
HATTIESBURG, MISS. — Franklin Street has arranged the sale of Hattiesburg Climate Controlled Storage, a 404-unit self-storage facility located at 7329 US Highway 98 in Hattiesburg. Mississippi-based Anderson Construction purchased the facility from Atlanta-based Highline Storage Partners for an undisclosed price. Frank DeSalvo and David Perlleshi of Franklin Street’s National Self-Storage Team represented both parties in the transaction. The newly built, climate-controlled facility spans 50,225 rentable square feet and features keyless entry and video surveillance.
MEDFORD, MASS. — Boston-based developer RISE, in partnership with local owner the Matarazzo Family, will develop a $200 million life sciences project in Medford, a northern suburb of Boston. The eight-story building at 4054 Mystic Valley Parkway will house 311,535 square feet of lab, research and development and office space, as well as ground-floor retail space. In addition, the facility will have a below-ground parking garage, dedicated indoor bike storage and a landscaped public plaza. Dave Douvadjian Sr. and Harrison Zucco of Newmark arranged an undisclosed amount of acquisition financing for the project. CUBE3 is the project architect, and Jacobs is the civil engineer. A construction timeline was not released.
CHICAGO — Colliers has arranged the sale of seven retail properties and one industrial building in metro Chicago for $10.5 million. The sale represents the first part of a multi-phased transaction that encompasses 22 retail properties, three land sites and one industrial building. Peter Block and Rachel Patten of Colliers represented the seller, a family office. Indianapolis-based Arnold Meyer & Co. was the buyer. Block expects to close on the remaining properties in the portfolio this summer.
KANSAS CITY, MO. — Matthews Real Estate Investment Services has negotiated the sale of a portfolio of medical office buildings throughout metro Kansas City for an undisclosed price. Known as the Sabates Eye Centers Portfolio, the portfolio features five properties with 13 suites totaling 76,826 square feet and is 90 percent leased. Rahul Chhajed and Michael Moreno of Matthews represented the undisclosed seller. A private family office based in Ohio was the buyer.
DARIEN, ILL. — Mid-America Real Estate Corp. has brokered the sale of Darien Shopping Center in the western Chicago suburb of Darien for an undisclosed price. The 46,582-square-foot retail center is fully leased to tenants such as American Freight, Concentra Urgent Care, Chuck E. Cheese and World Star Nails & Spa. Jewel-Osco shadow anchors the property. Emily Gadomski and Rick Drogosz of Mid-America represented the private seller. The asset sold to a local private buyer.
YPSILANTI, MICH. — MC Driving School has signed a 2,322-square-foot retail lease at Arbor Square Plaza in Ypsilanti. The tenant will take the space formerly occupied by Weight Watchers at the center, which is located at the southeast corner of Carpenter and Ellsworth roads. Michael Murphy and Tjader Gerdom of Gerdom Realty & Investment represented the landlord, Verus Development Group.
PHILADELPHIA — The Philadelphia Inquirer has opened a new, 36,500-square-foot office at 100 S. Independence Mall West in the Old City district. Locally based architecture firm Meyer designed the office, which can accommodate 200 people and represents a consolidated physical footprint. The newspaper employs about 400 people who will utilize the space on a rotating basis and work in “neighborhood” spaces that support individual departments like news, marketing, human resources and administration. Newmark represented the Inquirer in its site selection and lease negotiations. Keystone Property Groups owns the building.
WOODBRIDGE, N.J. — Marcus & Millichap has brokered the $11 million sale of a gas station and convenience mart in the Northern New Jersey community of Woodbridge. The property totals 4,453 square feet and is net leased to QuickChek. Justin Natalizio and Eric Anton of Marcus & Millichap represented the seller and procured the buyer, both of which were limited liability companies that requested anonymity, in the transaction. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record.
NEW YORK CITY — MillerKnoll, a family of home décor and furnishing brands, has signed a 15,331-square-foot office lease at 251 Park Avenue South in Manhattan’s Gramercy neighborhood. The 16-story building was originally constructed in 1909. Justin Royce of Cushman & Wakefield represented MillerKnoll in the lease negotiations. Andrew Wiener and Robert Fisher internally represented the landlord, The Feil Organization, which acquired the asset in 2015 and implemented a capital improvement program. Combined with its ground-floor retail space, MillerKnoll now occupies about 60,000 square feet at 251 Park Avenue South.