MONROE, MICH. — Mid-America Real Estate Corp. has arranged the sale of Telegraph Plaza in Monroe, about 40 miles south of Detroit. The sales price was not disclosed. The 141,354-square-foot shopping center is located at the northwest corner of Telegraph and Mall roads. Kohl’s, TJ Maxx and PetSmart anchor the center. A private investment group purchased the property. Ben Wineman, Carly Gallagher and Daniel Stern of Mid-America brokered the transaction on behalf of the seller, a public REIT.
NEW YORK CITY — Greystone has provided a $59.8 million HUD-insured permanent loan for The Pavilion at Queens for Rehabilitation & Nursing, a skilled nursing facility in Queens. The borrower is Kennedy Management. Fred Levine of Greystone’s Monsey, N.Y., office originated both the bridge and permanent FHA loan for the property. The HUD-insured financing for The Pavilion represents a permanent self-amortizing exit. In 2015, Greystone arranged a bridge-to-HUD loan to finance the acquisition, renovation and rebranding of the 302-bed facility, which includes an onsite 40-bed ventilator-dependent unit and a 12-chair dialysis center.
NOBLESVILLE, IND. — Great Lakes Capital (GLC) is developing Indiana Technical Center, a 100,000-square-foot industrial building in Noblesville, about 25 miles north of Indianapolis. The build-to-suit facility will be leased to BorgWarner, a manufacturer of technology solutions for combustion, hybrid and electronic vehicles. The facility will help BorgWarner consolidate its two existing locations in Anderson and Pendleton. Construction will begin this month with completion slated for April 2018. The Hagerman Group will serve as general contractor, while MSKTD & Associates Inc. will serve as architect and engineer.
NEW BRUNSWICK, N.J. — Sheldon Gross Realty has arranged the sale of a manufacturing facility located at 1007 Jersey Ave. in New Brunswick. Macritchie Storage acquired the 50,000-square-foot building, which sits on 3.8 acres, for $2.7 million. Jonathan Glick of Sheldon Gross Realty represented the undisclosed seller in the deal.
HASTINGS, MICH. — Wolverine Building Group has broken ground on a 100,000-square-foot industrial facility in Hastings, about 26 miles north of Battle Creek. Hastings Fiberglass, a fiberglass tool designer and manufacturer, will occupy the property. The $8 million development is located approximately a quarter-mile from the company’s current headquarters, which spans 70,000 square feet and is located at 770 Cook Road in Hastings. Completion of the property is slated for February 2018.
CHICAGO — Snapsheet has signed a 52,000-square-foot office lease at 1 N. Dearborn St. in Chicago. The company provides auto insurance carriers with a virtual claims technology that streamlines the claims process for customers. Snapsheet will be moving from 55 W. Monroe St., where it currently occupies 21,000 square feet. Snapsheet will occupy the new facility starting in January 2018. Brad Serot, Paul Reaumond and Todd Lippman of CBRE represented Snapsheet in the lease transaction. Jack O’Brien and Caroline Colnon of Telos Group represented the landlord, Beacon Capital Partners.
WINDHAM, MAINE — Cardente Real Estate has arranged the lease of 3,092 square feet of restaurant space in Windham. C2 Realty, a New York-based Japanese restaurant group, will occupy the space at 818 Roosevelt Trail. The landlord is Joy Real Estate of Lisbon LLC. Mark Sandler of Cardente Real Estate brokered the transaction.
SAN MARCOS, TEXAS — 29th Street Capital (29SC) has acquired The Reserve at West Avenue, a 152-unit, 488-bed student housing community in the San Antonio metro of San Marcos. Located at 109 West Ave., approximately two miles from Texas State University, the property consists of one-, two-, three- and four-bedroom units, each fully furnished, including washers and dryers. Amenities include a pool, 24-hour fitness center, private study rooms and a clubhouse with a game room. 29SC will invest roughly $1 million to the unit interiors and the property’s amenities.
BELLAIRE, TEXAS — SDI Realty Advisors has begun redeveloping Bellaire Town Center, a one-story, 39,000-square-foot retail center in the Houston metro of Bellaire. The project will deliver three buildings and increase the size of the center to 72,000 square feet. Phase I of construction is scheduled for a January 2018 completion and Phase II is scheduled for a fall 2018 completion.
RICHLAND HILLS, TEXAS — Henry S. Miller Brokerage (HSM) has negotiated the sale of the former All About Autos & North Hills Body Shop, a 30,2000-square-foot facility in the Fort Worth suburb of Richland Hills. Situated on three acres at 3925 Booth Callloway Road and built in 1986, the property features 36 service bays. Bill Bledsoe of HSM represented the seller, J&H Associates LP, in the transaction. John Lucas of KW Commercial represented the buyer, Steve’s Auto Repair.
