PEWAUKEE, WIS. — The Dickman Co. Inc./CORFAC International has brokered the sale of a 16,440-square-foot industrial building in Pewaukee, about 20 miles west of Milwaukee. The sales price was not disclosed. The property is located at 1275 Hickory St. Nick Keys of the Dickman Co. represented the seller, Evergreen Business Development Wisconsin LLC. Bast Mequon LLC purchased the property.
FOX LAKE, ILL. — Adelphia Properties has arranged the sale of a 4,800-square-foot mixed-use property in Fox Lake, about 56 miles north of Chicago. The sales price was not disclosed. The property, located at 1 Nippersink Blvd., was 100 percent leased at the time of sale. In addition to three apartment units on the second floor, the ground floor is home to one tenant, Lucky Bernies Gaming. Simeon Spirrison and George Spirrison of Adelphia represented both the buyer, a local investor, and the undisclosed seller.
DURHAM, N.C. — HFF has arranged the $55.6 million sale of Palladian Corporate Center, a two-building, 201,008-square-foot office complex in Durham. Ryan Clutter, Scot Humphrey and Chris Lingerfelt of HFF arranged the transaction on behalf of the seller, an institutional owner advised by Clarion Partners LLC. An affiliate of Innovatus acquired the asset. In addition, Brent Bowman of HFF arranged acquisition financing for the asset through Citizens Bank on behalf of the new owner. Palladian Corporate Center is located at 200 and 240 Leigh Farm Road, adjacent to Interstate 40, along the Highway 54 corridor. Constructed in 2005 and 2007, the four-story buildings feature landscaped exteriors, brick and glass façades, weekly scheduled food trucks and adjacent walking trails. Palladian Corporate Center is home to tenants including Northwestern Mutual, Eco-Site LLC and AICPA’s corporate headquarters. At the time of sale, the property was 98.4 percent leased.
WASHINGTON, D.C. — PCCP LLC has provided a $44.9 million loan for the acquisition of Embassy Suites at Chevy Chase Pavilion, a 198-room hotel in Washington D.C.’s Friendship Heights neighborhood. Arden Group acquired the asset from Clarion Partners. The hotel is located at 4300 Military Road N.W., on the border of northwest Washington, D.C. and Chevy Chase, Md., and within Chevy Chase Pavilion, a mixed-use complex. In addition to the hotel, the development includes a 205,000-square-foot office building and 155,000 square feet of retail. The hotel features an indoor swimming pool, health club and four meeting rooms. In addition, the hotel has access to Chevy Chase Pavilion’s 675-space underground parking garage and direct underground access to the Red Line Metro Station.
DORAL, FLA. — Cushman & Wakefield has arranged the $22.8 million sale of Transal Park, a six-building flex industrial campus located at 8200-8290 N.W. 27th St. in Doral. Mike Davis, Miguel Alcivar, Dominic Montazemi, Scott O’Donnell, Michael Lerner and Rick Brugge of Cushman & Wakefield, in conjunction with Cushman & Wakefield leasing partners Wayne Ramoski and Gian Rodriguez, arranged the transaction on behalf of the undisclosed seller. SVF Acquisitions LLC acquired the property. Transal Park comprises six one-story buildings totaling 134,175 square feet. The buildings feature flexible bays with a combination of direct-access front office space and rear warehouse with grade-level entries to truck courts. Other features include tenant signage, on-site security, a restaurant and a parking ratio of 3.6 spaces per 1,000 rentable square feet. At the time of sale, Transal Park was 88 percent leased to tenants including United States Medical, South Florida Health Management, Office Bargain Center, Encore Optical, Miami Vet Center and Doral Digital Reprographics.
TAMPA, FLA. — The Shopping Center Group has arranged the $8.4 million sale of Shoppes of Amberly, an 88,000-square-foot shopping center in Tampa. Anthony Blanco and Lynn De Marco of The Shopping Center Group represented the seller, a special servicer, in the transaction that was finalized through the RealINSIGHT Marketplace auction platform. Shoppes of Amberly LLC acquired the center. At the time of sale, Shoppes of Amberly was 86 percent leased to tenants including Crunch Fitness and Peabody’s Billiards. In addition, the center is home to local restaurants and medical, health and beauty services.
SUNRISE, FLA. — Dallas-based Lincoln Rackhouse will break ground this month on a 35,000-square-foot build-to-suit data center in Sunrise. In a sales-leaseback agreement, Bo Bond and Ali Greenwood of JLL’s Data Center Solutions secured a 20-year prelease with an undisclosed U.S. mobile network provider. The telecom switch center will expand the network’s delivery platform in the region. Burr Computer Environments Inc. is the project’s engineer, Gensler is the architect and Smith Commercial Contracting Inc. is the general contractor. Lincoln Property Co.’s South Florida office will oversee development and management for the project, which is slated for a fourth-quarter completion.
HAWTHORNE, CALIF. — Mogul Capital has received $60 million in construction financing to build the dual-branded Marriott Courtyard and TownePlace Suites hotel in Hawthorne. The five-story property will contain 354 guest rooms, a restaurant, swimming pool, and meeting space for corporate and community functions. The hotel will be located near aerospace-related businesses like SpaceX and Northrup Gruman, as well as Tesla’s design headquarters, Boeing, Aerospace Corp, Raytheon, LA Airforce Base and Mattel. Lusardi Construction Co. will build the project. Avana Capital provided the capital.
LOS ANGELES — The CBRE Strategic Partners U.S. Value 8 has purchased two office buildings in the Los Angeles submarket of Glendale for an undisclosed sum. The acquisition includes the 290,847-square-foot building at 801 N. Brand Blvd. and 136,016-square-foot building at 700 N. Central Ave. The transaction also includes a 50 percent ownership interest in an adjacent parking structure. Both buildings have been recently renovated and feature efficient floorplates. CBRE will implement a planned capital improvement program. The assets are currently 89.9 percent leased to a base of institutional-quality tenants.
SEATTLE — Hilton Hotels has announced plans to construct the Sound Hotel Seattle Belltown, a 142-room hotel in Seattle. The hotel is being developed as part of a 42-story mixed-use building. The new property will also house Arrivè apartments. The hotel will be situated on floors one through 10 with a first-floor lobby and restaurant. A bar/lounge, pre-function space and 770 square feet of meeting space, which will divide into two rooms, will all be available on the seventh floor. The Sound Hotel Seattle Belltown is part of the Tapestry Collection by Hilton. The Hotel Group will manage the asset.