Syracuse, N.Y. — Aptitude Development, a new partnership between BLVD Equities, Rosen Property Group and Westerleigh Property Group, is set to break ground on a 287-bed mixed-use development near Syracuse University in New York. The property will feature 20,000 square feet of retail space and community amenities including a fitness center and study rooms.
MANCHESTER, CONN. — KeyBank Real Estate Capital has secured a $30.9 million Fannie Mae first mortgage loan for Broadleaf Apartments, a 224-unit multifamily property in Manchester. The property was built in 2016 and is located eight miles from downtown Hartford. Thomas Peloquin of Key’s commercial mortgage group arranged the 10-year loan, which includes three years of interest-only payments and a 30-year amortization schedule. The loan was used to refinance existing debt.
NEW YORK CITY — Pembrook Capital Management has provided a $6.2 million first mortgage loan to finance the construction of a 21,341-square-foot mixed-use property located at 144-146 West St. in the Greenpoint neighborhood of Brooklyn. The unnamed sponsor plans to construct a six-story building on an infill site that will include 18 market-rate apartments on top of 1,200 square feet of commercial retail space. The project is expected to be complete in 2018 with nine parking spaces and bike storage.
WETHERSFIELD, CONN. — Phil Gagnon of Colliers International has brokered the $2.1 million sale of a 44,000-square-foot office building in Wethersfield. The Class B building is located at 936 Silas Deane Highway. Gagnon represented the buyer, CT Peer Review Organization (CPRO), in the transaction. CPRO will occupy a portion of the building and plans to complete upgrades to the facility. Patrick Mulready of CBRE represented the seller, PBE Cos.
KING OF PRUSSIA, PA. — A new Saks Fifth Avenue OFF 5TH retail store will open on April 6 in metro Philadelphia. The 42,000-square-foot store will be located at the Overlook at King of Prussia. The store will include more than 800 brands offering luxury designer fashion.
UNIVERSITY PARK, ILL. — Associated Bank has provided a $13.6 million loan for the acquisition of a 455,870-square-foot distribution center in University Park. The building, developed by Dermody Properties, is located at 425 University Crossing Drive. Edward Notz of Associated Bank managed the loan for the borrower, DPIF IL 3 University Park LLC.
LEMONT, ILL. — CBRE has arranged two industrial lease renewals for Salco Products Inc. totaling 128,339 square feet in Lemont, about 28 miles southwest of Chicago. The manufacturer of railcar parts renewed a lease for 96,360 square feet at 1385 101st St. and a lease for 31,979 square feet at 20W267 101st St. The smaller facility will allow for overflow space for the projected growth of Salco’s tank and hopper car parts business. David Prioletti of CBRE represented Salco in the lease transactions.
HARTLAND, WIS. — Heritage Senior Living has opened a new 125,000-square-foot senior living community in Hartland, about 25 miles west of Milwaukee. Heritage Lake Country is located at 2975 Village Square Drive. The community includes 45 independent living apartments, 16 assisted living apartments, 27 enhanced assisted living apartments and 36 memory care suites. Amenities include three dining rooms, a library, movie theater, fitness center, therapy pool and barber shop. Heritage Lake Country also features a multi-sensory “Snoezelen Room” to help ease anxiety for residents with Alzheimer’s and dementia, by using light, music, touch and scent to initiate sensory stimulations in the brain.
WAUKESHA, WIS. — Kirby Built Products has signed a 116,176-square-foot industrial lease in Waukesha. The furniture maker will occupy the space at 901 Northview Road. Waukesha Northview LLC is the landlord of the building. Roger Siegel and TJ Huenerbein of the Dickman Co. Inc. brokered the transaction.
OTTAWA, OHIO — Marcus & Millichap has arranged the sale of a 7,000-square-foot retail building in northwest Ohio for $1 million. The building is net leased to Advance Auto Parts, which has approximately 10 years remaining on its lease. The property is located at 255 Meadow Glen Drive. Nathan Coe and Dan Yozwiak of Marcus & Millichap marketed the property on behalf of the seller, a developer. Marcus & Millichap’s San Diego office secured and represented the buyer, a limited liability company.
