CAMBRIDGE, MASS. — NKF has arranged a $71 million recapitalization of a 63,943-square-foot office building in Cambridge. Located at 87 Cambridgepark Drive, the property is fully leased to biopharmaceutical companies Dicerna Pharmaceuticals and Ra Pharma. Edward Maher, Matthew Pullen, James Tribble and Samantha Hallowell of NKF’s Boston Capital Markets team secured financing for the borrowers, King Street Properties and The Carlyle Group. The lender was real estate investment trust HCP Inc.
UPPER DUBLIN, PA., — South Bay Partners Inc., through a joint venture with LAMB Properties LLC, has purchased 7.9 acres in Upper Dublin for the development of a 250-unit seniors housing community. Located approximately 20 miles north of Philadelphia, Sage at Mattison Estates will be a four-story structure offering 156 independent living units, 62 assisted living units and 32 memory care units. Groundbreaking is scheduled for February 2019 for an expected delivery in spring 2021. Locally based SageLife will manage the community upon completion.
HARRISBURG, PA. — CBRE has brokered the $8 million sale of a two-building, 50-acre office campus in Harrisburg. Located at 100 and 200 Amp Drive, the 250,000-square-foot property includes a full-service cafeteria and electric car charging stations. 100 Amp Drive totals 170,000 square feet while 200 Amp Drive totals 80,000 square feet. Michael Curran, William Krisztal and Nicholas Westley of CBRE’s Los Angeles South Bay office represented the seller, TE Connectivity Corp., in the transaction. Garrett Rothman of RSR Realtors represented the buyer, D&H Distributing Co., which will relocate its headquarters to the property.
HACKENSACK, N.J. — NAI James Hanson has negotiated the sale of a 7,800-square-foot industrial/flex building in Hackensack. The sales price was undisclosed. Located at 238 High St., the property includes 16-foot ceilings and three overhead doors. Anthony Cassano of NAI James Hanson represented the seller, High Street Hackensack LLC, in the transaction. The buyer was Hackensack-based Vanore Electric, which was drawn to the property’s sizable footprint and ample truck parking in a highly accessible area, according to NAI Hanson.
IRVINGTON, N.J. — Marcus & Millichap has arranged the $1.6 million sale of a multifamily building in Irvington. The 23-unit property is located at 818 Stuyvesant Ave. The property recently underwent extensive capital improvements. Kevin Taub of Marcus & Millichap’s New Jersey office represented the seller, a limited liability company. The buyer was a private investor.
ORLANDO, FLA. — HFF has arranged a $60 million construction loan for the nine-story Lake House, an apartment building in Orlando’s Ivanhoe Village. Brett Moss, Michael Weinberg, Tyler Swidler and Alec Fox of HFF secured the loan on behalf of a partnership between developers Sumitomo Corp. of Americas, Finfrock and OneEleven Residential. Lake House is expected to deliver in 2020 and feature 252 apartment and townhome units, as well as 36,000 square feet of ground-level commercial space along Lake Ivanhoe. Lake House will be located at 301 N.E. Ivanhoe Blvd., about three miles north of downtown Orlando.
OXON HILL, MD. — Developer Trammell Crow Co. and financial partner Meadow Partners have opened The Medical Pavilion at National Harbor, a 95,000-square-foot medical office building located at 201 National Harbor Blvd. in Oxon Hill, about 12 miles south of downtown Washington, D.C. The office building offers front desk concierge and security, valet parking and covered patient drop-off for patients and guests. Matt Sullivan, Lindsey Groom and Kirsten Ryan of Cushman & Wakefield are leading the property’s leasing efforts. The firm is also managing the building. There is currently 30,000 square feet of space available to lease after Cushman & Wakefield signed tenants including a regional hospital system, ambulatory surgery center, primary care and several specialists, including orthopedics, radiology and dermatology. National Harbor is a planned 300-acre, riverfront community in Prince George’s County that will feature 3,300 hotel rooms; 2,500 residential units; 1 million square feet of office space; and 1 million square feet of retail, dining and entertainment space upon full buildout.
SOUTHAVEN, MISS. — IDI Logistics has begun construction on Building G within Stateline Business Park, a 4 million-square-foot industrial park located in Southaven, less than a mile from the Mississippi-Tennessee border and about 13 miles south of Memphis. Building G will be a 352,800-square-foot, single-load facility that will feature 36-foot clear heights, 82 dock doors, two drive-in doors, a 185-foot truck court and 65 trailer parking spaces. The facility is expected to be delivered in June. Atlanta-based IDI Logistics began construction on Stateline Business Park in 2005.
PHENIX CITY, ALA. — Halpern Enterprises has signed Culver’s and Aldi to join the tenant lineup at Phenix City Marketplace in Phenix City. Smyrna, Ga.-based Halpern Enterprises is designing the 18-acre site that sits adjacent to Chick-fil-A, Verizon Wireless, McDonald’s, Precision Auto Tune and Waffle House. The site is also across from a Walmart Supercenter and next to Encompass Health’s Regional Rehabilitation Hospital. Phenix City Marketplace is located along U.S. Highway 280 about four miles from downtown Columbus, Ga.
HULL, GA. — Marcus & Millichap has arranged the $1.3 million sale of a Family Dollar-occupied building in Hull, about seven miles north of Athens. The 8,247-square-foot building was delivered in 2018. Don McMinn of Marcus & Millichap’s Taylor McMinn Retail Group represented the seller, Butler Properties & Development, in the transaction. Joe Siemienowski of Siemienowski & Associates represented the buyer, ALBOC137 LLC.
