BETHLEHEM, PA. — Berger-Epstein Associates has arranged an office lease at 2820-2830 Emrick Blvd. in Bethlehem. United Electric Supply Co. will occupy 8,180 square feet of office space at the property. Founded in 1965, United Electric Supply Co. is a general-line distributor of electrical supplies to local industrial, commercial and construction customers. Jonathan Epstein of Berger-Epstein Associates represented the undisclosed landlord in the deal.
CHARLOTTE, N.C. — Beacon Partners has unveiled its plans for a 3.5-acre block, situated at South Tryon and Bland streets in Charlotte’s South End, that the firm is currently redeveloping. The new development will feature two eight-story buildings spanning 320,000 square feet. Named the RailYard, the project will feature office space, 30,000 square feet of retail and restaurants and 100 residential units. The site sits one block from the LYNX Bland Street Station and at the head of the Rail Trail, a 3.5-mile trail along the LYNX Blue Line. The RailYard’s buildings will feature a brick exterior, masonry, ornamental steel and glass, double-door arched entryways and open floor plates offering views of Uptown and South End. The development will include a one-acre rooftop park and an outdoor courtyard between the two buildings. The design team includes RBA Group and David Furman of Centro Cityworks. Kristy Venning and Charlie Swanson of Beacon Partners are handling the leasing. Construction on RailYard is scheduled to begin this summer.
NASHVILLE, TENN. — SunTrust Bank has provided a $68.3 million loan to GoodWorks Unlimited LLC, a seniors housing provider with communities in Kentucky and Tennessee, for the refinancing of its portfolio. GoodWorks’ properties feature independent living, assisted living and memory care components. The organization will use the loan proceeds to refinance existing debt and expand its facilities. Currently 11 of GoodWorks’ 23 facilities are positioned for expansion. Harborview Capital Partners advised GoodWorks during the transaction.
BRENTWOOD, TENN. — Avison Young has arranged the $20.9 million sale of Horizon Center, a four-story, Class A office building located at 9020 Overlook Blvd. in Brentwood, a suburb of Nashville. Chicago-based TRP Investments LLC purchased the 104,899-square-foot building. Built in 1999, Horizon Center was fully leased at the time of sale to tenants such as OnLife (Blue Cross Blue Shield), Cross Country Education and Aerotek. Terry Smith, Dick Fleming, Ben Burns and Henry Trost of Avison Young represented TRP Investments in the transaction. TRP has retained Avison Young to lease and manage the property.
RALEIGH, N.C. — CBRE | Raleigh has arranged the $20.3 million sale of Marketplace at Lake Boone, a mixed-use property located at the intersection of Lake Boone Trail and Gateway Access Point in Raleigh. Griffin Partners purchased the property from Singerman Real Estate. Marketplace at Lake Boone features 76,253 square feet of street-level retail space and second-story office space. According to Griffin Partners, the property was fully leased at the time of sale to tenants such as Ashton Woods, AT Allen Co., Sirius Computer Solutions, Greystone, Saracare, Buffalo Brothers, Guasaca, Bottle Revolution, Traditions Bridal and The Oaks. Ben Kilgore, Elliott Brewer and Leslie Holmes of CBRE | Raleigh represented Singerman Real Estate in the transaction.
ROGERS, ARK. — Binswanger has brokered the sale of a single-story, 268,514-square-foot manufacturing and warehouse facility located on 20 acres at 1301 N. Dixieland Road in Rogers. Superior Industries International Inc. sold the asset for an undisclosed price. Built in 1989 about 14 miles from Northwest Arkansas Regional Airport, the property features office space, four dock-high doors with seals, four covered dock doors, a 335-space parking lot, maintenance work space, a tool shop, sprinkler system and clear heights ranging from 23 to 30 feet. Holmes Davis of Binswanger’s Dallas office represented the seller, and Marshall Saviers of Sage Partners represented the undisclosed buyer in the transaction.
SAN MATEO, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in institutional and major private investors, has negotiated the sale of The Villa at San Mateo for $46.5 million. The mixed-use property includes a 135-unit age-restricted community with six ground floor retail spaces in the Bay Area city of San Mateo. Originally constructed in 1957 as the Villa Hotel, the 4.5-acre property was converted to apartments in 2006. The community is nearby a shopping center currently undergoing a 290,000-square-foot expansion, and is walking distance from the Hillsdale Caltrain Station, which offers express service to both San Francisco and San Jose. The IPA team of Stan Jones, Phil Saglimbeni, Sal Saglimbeni, Mark Myers and Joshua Jandris represented the seller, Acacia Capital. The buyer was Elder Care Alliance. CBRE Capital Markets’ Debt & Structured Finance team arranged $30.4 million in acquisition financing for Elder Care in the transaction. Fannie Mae will provide the 10-year, fixed-rate financing. Elder Care Alliance is a California-based nonprofit seniors housing operator.
LOS ANGELES — California Realty Group has arranged the $23 million sale of an eight-acre shopping center located in the Los Angeles neighborhood of Granada Hills. Gelb Enterprises sold the property, located at 16225 San Fernando Mission Blvd. The buyer, Harridge Development Group, plans to redevelop the property into a mixed-use project consisting of 440 residential units and 60,000 square feet of retail. Mark Esses of California Realty Group represented the buyer and seller in the off-market transaction.
TUCSON, ARIZ. — Dekel Capital, a Los Angeles-based real estate merchant bank, has arranged $25.4 million in financing for the development of Sage Tucson, an assisted living and memory care project in the Casas Adobes submarket of Tucson. The deal was capitalized with a $17 million construction loan arranged through Dekel’s advisory practice and $8.4 million joint-venture equity funded by the firm’s proprietary equity fund, Dekel Strategic Investors (DSI). The property will include 86 assisted living units and 20 memory care units in a two-story structure located on 9.6 acres. Construction began in late 2016 for completion in early 2018. This is the third investment Dekel has made with the borrower, Willis Development.
LONG BEACH, CALIF. — Crow Holdings Industrial has purchased a 120,000-square-foot industrial building in the Long Beach submarket of Rancho Dominguez. The purchase price was not disclosed. The facility is located at 3025 E. Victoria St., approximately seven miles from the ports of Long Beach and Los Angeles. Frank Schulz, Todd Taugner and David Prior of Klabin Co. and Rick Putnam and Bret Hardy of Colliers International represented both the buyer and seller, TA Associates Realty, in this transaction.
