LEHI, UTAH — Gardner Co., Staker Co., WPI, CBC Advisors and L&T have unveiled plans for Lone Peak Plaza, a five-story office building in the North Utah submarket of Lehi. The Class A building is located at 3851 North Thanksgiving Parkway. Lone Peak Plaza will feature floor-to-ceiling glass, basketball courts, lockers and showers. Nature’s Sunshine Products has signed a long-term lease at the project.
BRUSH, COLO. — OZ Architecture has launched its design plan for phases two through four of the Eben Ezer Lutheran Care Center in Brush, located approximately 90 miles northeast of Denver. The new phases are part of a 10-step master plan for redesigning the 100-year-old seniors housing community. Phase II involves designing the new short-term rehabilitation and long-term skilled nursing facility, with the addition of two wings of 14 beds each. There will also be a small amenity node with a living room, dining room, country serving kitchen and physical therapy gym. Phase III includes the addition of a commercial kitchen, receiving areas and staff areas for maintenance and management. Phase IV will add 28 memory care units, each with access to a shared living space. Here, residents with a higher level of acuity will have access to a courtyard wandering garden and spa, with a more robust nursing component. The designs have also eliminated dead-end corridors, and increased security elements throughout. Last year, Eben Ezer selected OZ Architecture to complete the design of its two-story building. Spanning 54,000 square feet, the goal is to increase the overall capacity and elevate the design of the existing campus. The new assisted living …
NEW HAVEN, CONN. — Institutional Property Advisors, a division of Marcus & Millichap, has arranged the sale of The Novella, a mixed-use property located in New Haven. 1245 Chapel Street LLC acquired the property from RMS Chapel Street for $39.6 million. The Novella features 136 apartment units above the 1,135-square-foot Chapel Street Pharmacy, 3,380 square feet of available retail space and 85 parking spaces. Victor Nolletti, Steve Witten and Eric Pentore of IPA represented the seller and procured the buyer in the deal.
CALDWELL, N.J. — Cabot Properties has purchased an industrial facility located at 8 Fairfield Crescent in Caldwell. Tulfra Real Estate sold the 62,200-square-foot property for $7.8 million. Built in 1975, the property was fully renovated in 2014 and features 10,000 square feet of office space and 52,200 square feet of warehouse space. The building is fully leased through 2021 by two companies: Regi USA and Inline Distributing Co. Robert Borny and Jose Cruz of HFF brokered the transaction.
SCRANTON, PA. — Millett Real Estate, as owner and manager, has opened Home2 Suites by Hilton Dickson City Scranton, located at 914 Scranton-Carbondale Highway in Scranton. Featuring 70 guest suites, the hotel also offers complimentary internet access, communal spaces, a complimentary breakfast, Home2 MKT for grab-and-go items, and Spin2 Cycle, a combined laundry and fitness area. The pet-friendly hotel also features an indoor pool and whirlpool.
RAMAPO, N.Y. — Gebroe-Hammer Associates has arranged the sale of Suburban Manor, a garden-style apartment community located at 214-226 Old Nyack Turnpike in Ramapo. Suburban Manor LLC acquired the property, along with a four-acre development site, from Ramapo Knolls for $6.3 million. The four-building property features 53 apartment units in a mix of studio, one- and two-bedroom layouts. David Oropeza and Debbie Pomerantz of Gebroe-Hammer arranged the transaction.
FORT MILL, S.C. — Preferred Apartment Communities (PAC) has purchased West Town Market, a 67,883-square-foot shopping center in Fort Mill, a South Carolina suburb of Charlotte, for $14.3 million. PAC acquired the asset through its wholly owned subsidiary New Market Properties LLC. Thomas Kolarczyk, Richard Reid, Ted Hill and Mike Allison of HFF represented the seller, Retail Properties of America Inc. Ed Coco and Matt Casey of HFF secured an eight-year, $9 million loan with a 3.65 percent interest rate through Nationwide Life Insurance Co. on behalf of New Market Properties. A 48,220-square-foot Harris Teeter grocery store anchors West Town Market, which is located in the Highway 160 corridor. The retail center is also home to Pizza Hut, Great Clips and The UPS Store. The acquisition of West Town Market increases New Market’s retail portfolio to 37 grocery-anchored shopping centers across seven states.
TALLAHASSEE, FLA. — BRT Apartments Corp. has acquired Jackson Square Apartments, a 242-unit multifamily community located at 1767 Hermitage Blvd. in Tallahassee. The New York-based firm acquired the asset through Miami-based Lloyd Jones Capital, a joint venture in which it has an 80 percent equity interest, for $30.4 million. Constructed in 1996, Jackson Square offers one- to three-bedroom units and features a swimming pool, fitness center, clubhouse and racquetball court.
GULF BREEZE, FLA. — Publix Super Markets Inc. has acquired Sea Shell Collections, an 87,125-square-foot shopping center in the Pensacola community of Gulf Breeze, for $18.6 million. Publix anchors the center, which was 90.5 percent leased at the time of sale to tenants including Publix Liquor, Super Cuts, RE/MAX on the Coast, Coastal Paddle Co. and Pizzaz Personalized Gifts. Brad Peterson, Whitaker Leonhardt and Michael Brewster of HFF represented the undisclosed seller in the transaction.
GREENSBORO, N.C. — The Dilweg Cos. has sold South Elm Business Center, a 13-building industrial/flex development totaling approximately 330,000 square feet in Greensboro. Jonathan Smith of CBRE | Triad represented Durham, N.C.-based Dilweg in the transaction. Chris Ramm of Ramm Commercial Properties represented the buyer, Winston-Salem, N.C.-based Taylor Development Group. The sales price was not disclosed, but the Triad Business Journal reports Dilweg purchased the asset in 2009 for $11.5 million. Constructed between 1981 and 1988, South Elm Business Center is located on 29 acres at the corner of South Elm Eugene Street and Creek Ridge Road. The buildings offer a range of single- and multi-tenant options and feature office and warehouse space, docks, drive-in doors, showrooms and fenced yards. The portfolio was 88 percent leased at the time of sale. The CBRE | Triad team has handled leasing efforts for the portfolio since 2015 and will continue to do so under the new owner. Sara Proffit of CBRE | Triad will manage the property on behalf of Taylor Development.
