MADISON, WIS. — Colliers International has brokered the sale of an 87,975-square-foot mixed-use property in Madison for $7.9 million. The property, located at 2202 W. Beltline Highway, is 100 percent leased to SSM Health and Mattress Firm. Tom Shepherd of Colliers represented the seller, Orlando Partnership GP. An affiliate of Krausz Cos. Inc., WBLH Madison LLC, purchased the asset.
BARTLETT, ILL. — Animal Supply Co. has signed a 220,000-square-foot industrial lease in Bartlett, about 35 miles northwest of Chicago. The distributor of wholesale pet products will occupy the space at 1323 Brewster Creek Blvd. within the Brewster Creek Business Park. The property is a 421,401-square-foot warehouse newly constructed in the summer of 2017. The building features a clear height of 32 feet, 48 dock doors and 40 trailer spaces. Animal Supply will relocate from 6450 Muirfield Drive in Hanover Park. Adam Marshall, Brian Carroll and Mark Deady of Newmark Knight Frank (NKF) represented the tenant in the lease transaction. Jeffrey Janda and Steve Bass of Lee & Associates represented ownership.
GREAT BARRINGTON, MASS. — Westport, Conn.-based Paragon Realty Group has purchased Barrington Plaza, a grocery-anchored community shopping center in Great Barrington. An affiliate of Kimco Realty Corp. sold the property for an undisclosed price. The 131,000-square-foot center is co-anchored by a 44,667-square-foot Price Chopper and a 24,141-square-foot Marshalls. Dollar Tree, Pet Valu, Mattress Firm, AT&T and a variety of local retail properties also occupy the center. Nat Heald and Chris Angelone of JLL brokered the transaction. Paragon’s in-house management division will provide property management for the shopping center.
DUBUQUE, IOWA — Phoenix Theatres has signed a lease to reopen the six movie screens at Kennedy Mall in Dubuque. Moviegoers will get to experience the upgrades to the theater in a grand opening, which is slated for March. Each auditorium will feature fully reclining chairs, premium sound, self-serve drink stations and online ticketing. Opened in 1970 and located at 555 J.F.K. Road, the 700,000-square-foot Kennedy Mall features retailers such as Younkers, Dick’s Sporting Goods, J.C. Penney, Best Buy, Books-A-Million, Planet Fitness and Ulta. Affiliated entities of Cafaro Co. own and manage the property. Michigan-based Phoenix Theatres also operates a location at the Mall of Monroe in Monroe, Mich.
WYOMING, MICH. — Marcus & Millichap has arranged the sale of Mini Storage Depot in Wyoming, five miles south of Grand Rapids. The sales price was not disclosed. The property, located at 4975 Clyde Park Ave., features 319 non-climate-controlled units and 211 climate-controlled units for a total of 530 units. Brett Hatcher and Gabriel Coe of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The team also secured and represented the buyer, an out-of-state limited liability company.
BAYONNE, N.J. — Cushman & Wakefield, on behalf of Baker Residential, has arranged a joint venture with Woodmont Properties to develop a multifamily property at 190 W. 54th St. in Bayonne. Woodmont acquired a majority stake in the venture. Construction is underway with completion slated for spring 2019. Located adjacent to the 40-acre Richard A. Rutkowski Park, the property will feature 220 market-rate units, views of Manhattan and The Port of Newark, covered parking, a community pool, landscaped courtyards, a rooftop terrace, a club room, a fitness center, a pet spa and direct access to the park. John Alascio, Brian Whitmer, Sridhar Vankayala and Gloria Aboagye-Agyeman of Cushman & Wakefield represented Baker Residential in the transaction.
BOSTON — Newmark Knight Frank Capital Markets has brokered the sale a retail building located at 957 Commonwealth Ave. in Boston’s Brighton neighborhood. Nolan Properties Group acquired the asset from J&M Realty for an undisclosed price. Justin Smith, Paul Penman and Christian Brannelly of NKF Capital Markets represented the seller in the deal. The property features 15,800 square feet of retail space.
NORTH DARTMOUTH, MASS. — Fantini & Gorga has arranged $3.3 million in refinancing for State Road Plaza, a retail property in North Dartmouth. The borrower was New York-based 331 State Road Associates LLC. Casimir Groblewski of Fantini & Gorga originated the assignment and placed the financing. Situated on 5.8 acres, State Road Plaza features 29,505 square feet of retail space. Current tenants include J.D. Byrider, Newbury Comics and Pearson Vue, as well as various local retailers and service providers.
WEST HAVEN, CONN. — O,R&L Commercial has arranged the sale of a light industrial/flex building located at 45 Railroad Ave. in West Haven. Pinpoint Promotions & Printing acquired the asset form L&A Realty. The new owner plans to relocate its full-service marketing and production agency to the property, which was formerly occupied by Manufacturers Associates Inc. Situated on 1.25 acres, the property features 24,300 square feet of space. Richard Guralnick of O,R&L Commercial represented the seller in the transaction.
WASHINGTON, D.C. — A joint venture between Paris-based AXA Investment Managers – Real Assets and Stewart Investment Partners has acquired 1401 New York Avenue NW, a 210,000-square-foot office property located in Washington, D.C.’s East End, for $165 million. AXA holds the majority interest in the partnership. The sellers, Heitman and Minshall Stewart Properties, originally acquired the property in December 2013 from Lone Star Funds for $95 million. Stewart Investment Partners is a successor firm spun out from Minshall Stewart Properties. The 12-story building is LEED Gold certified and features ground-level retail and a below-grade parking garage. The property was originally built in 1983, and recently underwent renovations that included a redesigned lobby, retail frontage, the addition of new tenant amenities and the replacement of the building’s original masonry façade with a glass curtain wall system. This property is AXA’s second investment in the Washington, D.C., metro over the past few months. The company acquired Montgomery Tower, a 366,800-square-foot office tower located in Bethesda, Md., in October of last year for $132.8 million. Paris, France-based AXA Investment Managers – Real Assets operates offices in 20 countries throughout Europe, Asia-Pacific and North America. The company has 74 billion euros in assets under …
