RALEIGH, N.C. — CBRE | Raleigh has arranged the $8.6 million sale of a six-property Dollar General portfolio located throughout North Carolina. Joe Graham of CBRE | Raleigh led the 1031 tax deferred exchange on behalf of the seller, a company affiliated with Raleigh-based Vanguard Property Group, a development and investment management firm. Michael McManus of Marcus & Millichap represented the buyer, a local private investor. Each Dollar General location holds a long-term, triple-net lease.
ROSEMOUNT, MINN. — CBRE has brokered the sale of Rosemount Crossing in Rosemount, about 25 miles south of Minneapolis, for $7.6 million. Aldi anchors the 44,194-square-foot shopping center. Built in 2005, the three-building property is located on a five-acre site along South Robert Trail. The property was 92 percent occupied at the time of sale. Other tenants include Starbucks, Park Dental, Snap Fitness, Sprint and Fantastic Sams. Jim Leary of CBRE represented the seller, Rosemount Crossing LLC. A Seattle-based investment entity purchased the property.
ST. LOUIS — Hilliker Corp. has arranged the sale of two industrial buildings in St. Louis for approximately $7 million. Serioplast, a plastic manufacturer based in Italy, purchased a 132,000-square-foot building located at 4400 Planned Industrial Drive. Service Metals Inc., an industrial valve distributor, purchased the property located at 4300 Planned Industrial Drive. Madison Warehouses built both properties in the 1990s. Hal Ball and Chris Taff of Hilliker Corp. represented the tenants in the transactions.
OAK CREEK, WIS. — Clover Technologies Group has signed a 16,047-square-foot industrial lease in Oak Creek, about 15 miles south of Milwaukee. The property is located at 305 E. Mahn Court. Nick Keys, Samuel M. Dickman Jr. and Samuel D. Dickman of the Dickman Co. Inc./CORFAC International represented the technology company in the lease transaction. Steve Sewart of Colliers International represented the landlord, FR/CAL Oak Creek LLC.
BURNSVILLE, MINN. — Valley Natural Foods has unveiled plans to expand its grocery operation in Burnsville, approximately 15 miles south of Minneapolis. The company acquired a building adjacent to its existing 15,000-square-foot property and plans to add an additional 11,000 square feet of space. Built by Loeffler Construction and designed by Wilkus Architects, the building will be remodeled to expand food service, catering service, fresh departments and shopping convenience. The store will feature a new community room for meetings and a classroom for cooking classes. Existing Valley Natural Foods employees will staff the expanded facility. Construction will begin this month and is slated for completion in spring 2018.
ANN ARBOR, MICH. — The Boulder Group has negotiated the sale of a retail property net leased to ATI Physical Therapy in Ann Arbor for $2.4 million. The 8,200-square-foot, single-tenant property is located at 4765 Jackson Road near the University of Michigan. ATI has over 11 years remaining on its lease, which expires in January 2029. The building recently underwent a complete renovation. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based private partnership. The buyer was also a Midwest-based private partnership.
NORWALK, CONN. — Marcus Partners has completed the disposition of Cross Street Medical Center, located at 40 Cross St. in Norwalk. Anchor Health Properties acquired the property for $23 million. Norwalk Surgery Center/Norwalk Hospital, St. Vincent’s MultiSpecialty Group, WestMed (formerly Norwalk Medical Group) and the Center for Advanced Pediatrics anchor the 71,401-square-foot building. Frank Nelson, Michael Greeley and Danielle DeMarco of Newmark Knight Frank represented the seller in the deal.
NEW YORK CITY — Capital One has provided a $145 million, seven-year, floating-rate loan to Jamestown Properties to refinance 88 Leonard Street, an apartment building located in Manhattan. Capital One Municipal Funding purchased $112.5 million in tax-exempt bonds, and Capital One purchased $32.5 million in taxable bonds that were issued by the New York State Housing Finance Agency to finance the property. Paul Kesicki of Capital One closed the transaction. Constructed in 2007, the 21-story building features 352 apartment units, 11,000 square feet of ground-floor retail space and an attached 249-car parking garage. Community amenities include a roof deck on the 14th floor, a second-floor terrace with outdoor fireplace and whirlpool, and a full suite of concierge services. Units feature upscale appliances, granite countertops and wood cabinetry.
NEW YORK CITY — Trinity Place Holdings has entered into an option agreement to acquire a newly built apartment building, located at 237 11th St. in Brooklyn’s Park Slope neighborhood, for $81 million. The 12-story building features 105 apartment units and 6,264 square feet of retail space, which is leased to Starbucks Coffee. On-site amenities include a courtyard garden, party room, fitness center, tenant lounge, bicycle storage room, parking and a landscaped rooftop terrace. The transaction, which is subject to customary closing conditions, is expected to close in the first quarter of 2018. The name of the seller was not released.
VERNON, CONN. — Sentry Commercial has brokered the sale of an industrial facility located at 77 Industrial Park Road in Vernon. Tradewinds Investments acquired the property from Mel-Pet Realty for $1.3 million. The 52,000-square-foot facility is occupied by multiple tenants. Sentry Commercial was the sole broker in the transaction.