BENSALEM, MEDIA AND LIONVILLE, PA. — ECHO Realty Partners has acquired a portfolio of three grocery-anchored shopping centers located in metropolitan Philadelphia for an undisclosed sum. The properties are the 88,500-square-foot Giant Marketplace at Bensalem, anchored by Giant; the 71,000-square-foot Media Shopping Center, anchored by Acme; and the 79,000-square-foot Lionville Station. The name of the seller was not released.
METUCHEN, N.J. — Alfred Sanzari Enterprises has purchased Greenway Village, a newly constructed apartment complex located in Metuchen. Greenway Village LLC and Aros Investments LLC sold the 49-unit property for an undisclosed price. Built in 2016, the property features one-bedroom apartments with nine-foot ceilings, recessed lighting, hardwood flooring and crown molding. Additionally, each unit features a washer/dryer, walk-in closets and individually controlled heat and air conditioning. Lauren Rose Federgreen of Rose Real Estate LLC represented the buyer and sellers in the deal.
NORTON, MASS. — KeyBank Real Estate Capital, on behalf of NorthBridge Partners LLC, has secured a $19 million CMBS first mortgage loan for the acquisition of a warehouse and distribution facility located in Norton. Built in 1999 and renovated in 2004, the 347,000-square-foot property is occupied by Autopart International Inc. John Christen of KeyBank’s Commercial Mortgage Group structured the non-recourse loan with a 10-year term, five-year interest-only payment period and a 30-year amortization schedule.
WESTPORT, CONN. — Stamford, Conn.-based RHYS has arranged the sale of a retail building located at 950 Post Road in Westport. Ewkai 950 Post Road East LLC acquired the property for $5 million, or $756 per square foot, and plans to hold the property as a long-term investment. The 6,616-square-foot building is triple net-leased to the parent company of Men’s Wearhouse, which occupies the building. Christian Bangert and Cory Gubner of RHYS represented the buyer and seller, Forstone 950 Post LLC, in the transaction.
NORWALK, CONN. — Media Horizons Inc. has signed a lease for 12,648 square feet of office space at 800 Connecticut Ave. in Norwalk. The digital and direct marketing agency plans to relocate its headquarters to the 412,000-square-foot property, which is owned by CBRE Strategic Partners U.S. Value 7, from 40 Richards Ave. in Norwalk. David Block and Joseph Weaver of CBRE represented the landlord, while Paul Kauffman and Mark Jacobs of JLL represented the tenant in the lease transaction.
AUBURN, WASH. — KeyBank’s Community Development Lending & Investing group has provided $95.2 million in tax-exempt bond financing to construct two affordable housing communities in the Seattle suburb of Auburn, one for families and one for seniors. AVS Communities is developing the two properties. The Villas at Auburn will offer 295 units of affordable housing for families while The Reserve at Auburn will offer 297 units of affordable housing for seniors. Both projects will serve residents making 60 percent or less of the area median income. KeyBank provided a $47 million construction loan for The Reserve at Auburn, with a $40.6 million Freddie Mac Tax Exempt Loan (TEL) component arranged by Key’s Commercial Mortgage Group. The company provided a $48.2 million construction loan for The Villas at Auburn, with a $40.9 million Freddie Mac TEL arranged by Key’s Commercial Mortgage Group. The Washington State Housing Finance Commission issued the tax-exempt bonds. Victoria Quinn and Al Beaumariage arranged the financing.
SAN DIEGO — Pacific Castle has completed the disposition of Santee Town Center, a 120,000-square-foot retail center in the San Diego submarket of Santee. An undisclosed buyer acquired the property for $27 million. Ross Dress for Less, Michael’s and Office Depot occupy the center. REZA Investment Group represented Pacific Castle in the deal.
MORGAN HILL, CALIF. — The city planning commission of Morgan Hill has approved plans for a three-story, mixed-use building located at 17395 Monterey Road in downtown Morgan Hill. Designed by KTGY Architecture + Planning, the 10,000-square-foot building will be used as a dining destination owned and operated by local restauranteur Dan McCranie. Construction is slated to begin in early 2017, with completion scheduled by the end of the year.
LOS ANGELES — A private partnership has acquired Valencia Studios, a 120,878-square-foot production studio in the Los Angeles submarket of Valencia, for $19.3 million. The four-building studio is located at 26030 Avenue Hall and 28343 Avenue Croker. The space has been used to produce such television shows as NCIS, Jag and the Power Rangers. The new buyer plans to continue operating the space as a production studio. Jeffrey Andrew of Cushman & Wakefield Pacific represented the buyers. CBRE’s Craig Peters and Robert Valenziano represented the sellers, Capital Foresight Limited Partnership and Valencia Studios NKG.
WOODINVILLE, WASH. — Cru Selections has leased 10,970 square feet of industrial space at The Park at Woodinville. The property is located adjacent to one of the largest industrial winery locations in the state of Washington. Woodinville and its warehouse district have become home to over 100 wineries and tasting rooms over the last two decades. CBRE’s Erik Larsen represented Cru. Derek Heed of Colliers International represented the landlord, KBS Realty Advisors, in this transaction.
