STRATFORD, CONN. — Northeast Private Client Group (NPCG) has brokered the $14.2 million sale of Sherwood and Shakespeare Apartments, a 128-unit multifamily property in Stratford. The property consists of three adjacent buildings at 112 Stratford Ave. Brad Balletto of NPCG represented the seller, Stratford-based Stratcon Properties LLC, in the transaction, and procured the buyer, a Bridgeport-based private investor.
NEW YORK CITY — Meridian Capital Group has arranged $5.7 million in acquisition financing for three multifamily properties in Queens. The three properties are located at 84-47 Lefferts Blvd., 83-35 Lefferts Blvd. and 84-10 120th Street. A balanced sheet lender provided the five-year loan, which features an interest rate of 3.88 percent and two years of interest-only payments followed by a 30-year amortization schedule. Gandolfo DiFiore of MDM Development is the borrower. Aaron Lerman and Sam Shifer of Meridian handled the transaction.
LOMBARD, ILL. — McShane Construction Co. has completed Elan Yorktown, a 295-unit apartment community in Lombard. Greystar is the developer and owner. The property offers studio, one-, two- and three-bedroom units ranging in size from 626 to 2,471 square feet. The four-story development includes an attached four-story parking garage. Amenities include a fitness center, golf simulator room, theater room, library, clubroom, conference rooms, pool, walking path and dog park. ESG Architects served as the architect. Monthly rental rates start at $1,490.
MINNEAPOLIS — Ryan Cos. Real Estate Management is undertaking a $3 million renovation of City Center, which is comprised of nearly two city blocks in the center of Minneapolis. It includes the 51-story skyscraper, 33 South Sixth Street; a 381,630-square-foot mall; a 687-stall parking garage; and the Minneapolis Marriott. Renovation plans call for the replacement of precast concrete panels with updated structural materials, additional lighting, new signage and a second-floor covered patio space. Sussner has undertaken the brand repositioning of the property, which will include a new City Center logo and colorful graphics. Ryan Cos. will oversee the construction, which will be completed by RJM Construction.
TOLEDO, OHIO — Dakkota Integrated Systems has signed a 66,603-square-foot industrial lease in Toledo. The supplier of Jeep parts is expanding and doubling its size at the facility, which spans 1.1 million square feet and is situated on 46 acres at 315 Matzinger Road. The lease term is for five years and five months. Ron Jurgenson of Reichle Klein Group and Rob Hughes of Newmark Knight Frank negotiated the lease. I.B.C. Inc. is the landlord.
CHICAGO — PerkSpot has signed a 14,020-square-foot office expansion at 320 W. Ohio St. in Chicago. The customized employee discount firm now occupies more than 27,000 square feet at the building. It is the company’s second expansion in the last 13 months. Allen Rogoway of Cresa Chicago represented the tenant in the lease transaction. PerkSpot offers a perk program where employees can gain rewards and exclusive discounts for their performance. PerkSpot also offers discounted merchandise and services and receives a commission on the value of items sold through its platform by merchants.
WEST DES MOINES, IOWA — Marcus & Millichap has brokered the sale of Country Club Village Townhomes in Des Moines for $1.9 million. The 16-unit multifamily property is located at 1220 Office Park Road. Built in 1972, the rental property features two-bedroom units spanning 1,500 square feet. Ryan Spengler, Chris Collins and Evan Miller of Marcus & Millichap marketed the property on behalf of the seller and procured the buyer.
CHANDLER, ARIZ. — CBRE Global Investors has purchased a data center, located at 2500 W. Frye Road in Chandler, an eastern suburb of Phoenix, for $72.7 million. The seller was Lincoln Rackhouse, the data center division of Lincoln Property Co., in partnership with Principal Real Estate Investors. Kristina Metzger and James McCarthy of CBRE Data Center Capital Markets represented the seller in the deal. Lincoln Rackhouse and Principal Real Estate Investors originally purchased the data center in 2018 as part of a three-property portfolio. A global data center services provider fully occupies the 191,000-square-foot facility.
PORTLAND, ORE. — A joint venture between Holland Partner Group and Pacific Life Insurance Co. has acquired Tupelo Alley, a mixed-use community located in Portland’s North Mississippi Avenue neighborhood. Institutional investors advised by J.P. Morgan Asset Management sold the property for $58 million. Situated on 1.4 acres at 3850 N. Mississippi Ave., the three-building Tupelo Alley features 188 apartments in a mix of studio, one- and three-bedroom layouts, averaging 770 square feet, and 10,000 square feet of ground-floor retail space. On-site amenities include indoor and outdoor gathering spaces for residents. Ira Virden and Carrie Kahn of JLL Capital Markets represented the seller, while Charles Halladay, Rick Salinas and Charlie Watson, also of JLL Capital Markets, represented the buyer in the transaction. Additionally, JLL arranged $37.7 million in acquisition financing for the buyer.
PORTLAND, ORE. — Colliers International has arranged the purchase of 6Y, a 11-story creative office building located at 811 SW Sixth Ave. in Portland’s Central Business District (CBD). Deka Immobilien acquired the asset from a joint venture between KBS and True North Management Group for $47.5 million. The transaction marks Frankfurt, Germany-based Deka’s third U.S. purchase in the last nine months and its entry into the Oregon market. Overlooking Pioneer Square, the 116,224-square-foot property was repositioned to include upgraded creative office suites, a tenant lounge and a contemporary lobby. Robert Stamm and Andres Roldan of Colliers’ Investment Advisory Group, in coordination with Chris Johnson of Colliers’ Portland office, represented the buyer, while Nick Kucha, James Childress and Bill DeLacy of Newmark Knight Frank represented the seller in the deal.