LOCUST GROVE, GA. — John Hancock Real Estate and CRG are teaming up to develop a 1 million-square-foot industrial building located in Locust Grove, roughly 30 miles south of Atlanta in the city’s South Atlanta industrial submarket. The facility will feature 36-foot clear heights, 236 trailer spaces, 148 dock-high doors and 386 parking spaces. CRG’s parent company Clayco will serve as the design-builder, and its subsidiary Forum Studio is the architect on the project. Situated a half mile from the Interstate 75-Bill Garner Parkway interchange, the facility will be the first component of a 311-acre development that can accommodate 4.5 million square feet of industrial space. The development team expects the building to be available for occupancy in early 2018.
PALM COAST, FLA. — Berkadia has arranged the $25.5 million sale of Pine Lake Apartments, a 184-unit multifamily community located at 121 Pine Lakes Parkway North in Palm Coast, a city on Florida’s east coast about 25 miles south of St. Augustine. Built in 2005, the property features one-, two- and three-bedroom floor plans. Community amenities include a resort-style pool, poolside fire pit, hammock lounge, grilling areas, a fitness center, detached garages and a dog park. Pine Lake Apartments is adjacent to the Indian Trails Sports Complex and roughly five miles from the Atlantic Ocean. Cole Whitaker, Mary Beale, Jason Stanton and Greg Rainey of Berkadia represented the seller, Massachusetts-based Palm Coast Waterchase LLC, in the transaction. The buyer was Missouri-based Pine Lake Acquisitions LLC.
PEACHTREE CORNERS, GA. — SunTrust Commercial Real Estate, a division of SunTrust Banks Inc., has provided a $13.7 million loan to TPA Group for Crawford & Co.’s new global headquarters. TPA Group will use the loan to refinance and proceed with the renovation of the existing building at 5335 Triangle Parkway in Peachtree Corners, a Gwinnett County suburb of Atlanta. Crawford & Co., an independent claims management firm, expects to move its 500 employees from its existing office in Atlanta’s Central Perimeter submarket in November. SunTrust Commercial Real Estate was the sole lender for the new facility.
COLUMBUS, OHIO — Bull Realty has brokered the sale of a BIOMAT specialty medical facility in Columbus for $3.3 million. The 14,957-square-foot property is a plasma collection facility, one of over 200 collection facilities in 32 states owned by parent company Grifolis. The single-tenant, net-leased property is situated on 3.4 acres. BIOMAT has nine years remaining on the triple-net lease. Michael Bull and Nancy Miller of Atlanta-based Bull Realty represented the buyer, Apple Ridge/Cherry Ridge LLC, which purchased the property as part of a 1031 exchange. Brian Smith of Marcus & Millichap represented the seller, White Owl LLC.
CHICAGO — Baum Realty Group LLC has arranged the sale of a 16,180-square-foot mixed-use building located at 6-8 S. Clark St. in Chicago. The sales price was not disclosed. The first floor of the building was previously occupied by a Wendy’s restaurant while the other three floors have been vacant in recent years. Greg Dietz and Danny Spitz of Baum represented the undisclosed seller. An out-of-state investor purchased the property.
CINCINNATI — Pillar has provided a $6.8 million loan for the refinancing of Cambridge Park Apartments in Cincinnati. The 198-unit property features one-, two- and three-bedroom floor plans. Cambridge Park Apartments is fully leased. The 12-year loan includes a 30-year amortization schedule. Shamrock Properties IX LLC was the borrower.
VERNON HILLS, ILL. — Inland Real Estate Acquisitions Inc. has purchased The Commons at Town Center in Vernon Hills, a northern suburb of Chicago, for an undisclosed price. The 85-unit apartment property is located at 1255 Town Center Road. Constructed in 2010, the property sits on 2.4 acres and features a mix of one-, two- and three-bedroom units. The property also includes 10,609 square feet of first-floor retail space. Tenants include Sam Martirano Salon & Spa, Hawthorn Dental Associates, Eight Piece Rolls, Design Studio Jewelry LLC and Giuseppe’s Pizza Restaurant. The Commons at Town Center was 96 percent leased at the time of sale. Joe Cosenza and Brett Smith of Inland closed the transaction on behalf of Inland Residential Properties Trust Inc.
ELMHURST, ILL. — Peak Construction Corp. has completed a 38,000-square-foot industrial renovation for MedTorque Inc. in Elmhurst, a western suburb of Chicago. Peak coordinated installing new power, plumbing, HVAC and millwork at the multi-tenant building. MedTorque’s Chicago location specializes in the machining and assembly of complex medical instruments for the orthopedic industry.
WALPOLE, MASS. — A joint venture between Benchmark Senior Living and Farallon Capital Management has acquired New Pond Village, a continuing care retirement community (CCRC) in the Boston suburb of Walpole. BH Brightview New Pond Village LLC sold the property for an undisclosed price. The community offers 167 independent living units and 32 supportive living units. The three-story, 259,000-square-foot building was built in 1990 on 19.4 acres. New Pond is Massachusetts-based Benchmark’s 54th community and fourth CCRC. Allen McMurtry, Paul Carr, David Kliewer and Megan Fetter of Cushman & Wakefield represented the seller in the transaction.
NORTHBOROUGH, MASS. — Transwestern Consulting Group (TCG) has arranged the sale of One Beeman Road in Northborough on behalf of Stockbridge Capital Group. According to public records, the sale price was $33 million. TH Real Estate purchased the 342,900-square-foot, high-bay industrial facility. TH Real Estate is an affiliate of Nuveen, the investment management arm of TIAA. The facility is 100 percent leased to FedEx SmartPost, serving as the company’s sole New England hub. TCG’s Chris Skeffington, John Lashar and Joe Olin represented the seller and sourced the buyer in the transaction. The firm has been retained by the new ownership to provide leasing and property management services for the building. One Beeman Road features 104 tailboard doors with cross-dock capability and building clear height up to 33 feet. A tenant since 2001, FedEx recently extended its term through 2023.