SCRANTON, PA. — Millett Real Estate, as owner and manager, has opened Home2 Suites by Hilton Dickson City Scranton, located at 914 Scranton-Carbondale Highway in Scranton. Featuring 70 guest suites, the hotel also offers complimentary internet access, communal spaces, a complimentary breakfast, Home2 MKT for grab-and-go items, and Spin2 Cycle, a combined laundry and fitness area. The pet-friendly hotel also features an indoor pool and whirlpool.
RAMAPO, N.Y. — Gebroe-Hammer Associates has arranged the sale of Suburban Manor, a garden-style apartment community located at 214-226 Old Nyack Turnpike in Ramapo. Suburban Manor LLC acquired the property, along with a four-acre development site, from Ramapo Knolls for $6.3 million. The four-building property features 53 apartment units in a mix of studio, one- and two-bedroom layouts. David Oropeza and Debbie Pomerantz of Gebroe-Hammer arranged the transaction.
FORT MILL, S.C. — Preferred Apartment Communities (PAC) has purchased West Town Market, a 67,883-square-foot shopping center in Fort Mill, a South Carolina suburb of Charlotte, for $14.3 million. PAC acquired the asset through its wholly owned subsidiary New Market Properties LLC. Thomas Kolarczyk, Richard Reid, Ted Hill and Mike Allison of HFF represented the seller, Retail Properties of America Inc. Ed Coco and Matt Casey of HFF secured an eight-year, $9 million loan with a 3.65 percent interest rate through Nationwide Life Insurance Co. on behalf of New Market Properties. A 48,220-square-foot Harris Teeter grocery store anchors West Town Market, which is located in the Highway 160 corridor. The retail center is also home to Pizza Hut, Great Clips and The UPS Store. The acquisition of West Town Market increases New Market’s retail portfolio to 37 grocery-anchored shopping centers across seven states.
TALLAHASSEE, FLA. — BRT Apartments Corp. has acquired Jackson Square Apartments, a 242-unit multifamily community located at 1767 Hermitage Blvd. in Tallahassee. The New York-based firm acquired the asset through Miami-based Lloyd Jones Capital, a joint venture in which it has an 80 percent equity interest, for $30.4 million. Constructed in 1996, Jackson Square offers one- to three-bedroom units and features a swimming pool, fitness center, clubhouse and racquetball court.
GULF BREEZE, FLA. — Publix Super Markets Inc. has acquired Sea Shell Collections, an 87,125-square-foot shopping center in the Pensacola community of Gulf Breeze, for $18.6 million. Publix anchors the center, which was 90.5 percent leased at the time of sale to tenants including Publix Liquor, Super Cuts, RE/MAX on the Coast, Coastal Paddle Co. and Pizzaz Personalized Gifts. Brad Peterson, Whitaker Leonhardt and Michael Brewster of HFF represented the undisclosed seller in the transaction.
GREENSBORO, N.C. — The Dilweg Cos. has sold South Elm Business Center, a 13-building industrial/flex development totaling approximately 330,000 square feet in Greensboro. Jonathan Smith of CBRE | Triad represented Durham, N.C.-based Dilweg in the transaction. Chris Ramm of Ramm Commercial Properties represented the buyer, Winston-Salem, N.C.-based Taylor Development Group. The sales price was not disclosed, but the Triad Business Journal reports Dilweg purchased the asset in 2009 for $11.5 million. Constructed between 1981 and 1988, South Elm Business Center is located on 29 acres at the corner of South Elm Eugene Street and Creek Ridge Road. The buildings offer a range of single- and multi-tenant options and feature office and warehouse space, docks, drive-in doors, showrooms and fenced yards. The portfolio was 88 percent leased at the time of sale. The CBRE | Triad team has handled leasing efforts for the portfolio since 2015 and will continue to do so under the new owner. Sara Proffit of CBRE | Triad will manage the property on behalf of Taylor Development.
RALEIGH, N.C. — Atlanta-based Cortland Partners has acquired Aurum Falls River, a 284-unit apartment community in Raleigh. The sales price and seller were not disclosed. Located at 1302 Rio Valley Drive, the property is located near Research Triangle Park, Wake Forest University and the Raleigh-Durham International Airport. Aurum Falls River was constructed in 2001 and offers one-, two- and three-bedroom floor plans. Community amenities include a car care center, pet wash station, pool, outdoor kitchen, playground, fitness center and a dog park.
INDIANAPOLIS — CBRE has arranged the sale of three multifamily properties in the Indianapolis area for $69.1 million. Steve LaMotte Jr. of CBRE represented the seller in each of the separate transactions. Philadelphia-based Gold/Oller retained a management interest in Lighthouse Landings, a 336-unit property completed in 2001. Covenant Capital acquired Columns of Castleton, a 398-unit property located on the northeast side of Indianapolis. CBRE represented the seller, Samuel Geltman & Co., which had owned the property for nearly 30 years. The community will undergo a full renovation, including possible construction of a clubhouse and amenity area. Sundance Bay LLC purchased Eagle Pointe Apartments, a 256-unit property located on the west side of Indianapolis. Gold/Oller was the seller.
HOUSTON — The Signorelli Co. will develop The Pointe at Valley Ranch Town Center, a 550-unit apartment project that will be the first multifamily component of the 240-acre Valley Ranch Town Center community located at the intersection of Interstate 69 and Grand Parkway. Meeks + Partners Architects and Brown & Gay Engineers are designing the Class A project, the first phase of which is scheduled to break ground in early 2018.
JEFFERSONVILLE, IND. — Ingram Micro has signed a 592,800-square-foot industrial lease in Jeffersonville, three miles north of Louisville, Ky. The technology and supply chain services provider will fully occupy Gateway 600 within the River Ridge Commerce Center. The property is located on 40 acres at 250 Hilton Lane. VanTrust Real Estate developed the speculative building, which was completed earlier this year. Matt Hartlage and Jake Sturman of JLL represented the tenant in the lease transaction. Kevin Grove of CBRE represented the landlord.