NEWTON, MASS. — R.W. Holmes Realty has brokered the sale of an office/manufacturing building located at 55 Border St. in Newton. Border Realty Trust sold the property to Quarter Realty Trust for $2.7 million. The 18,000-square-foot building features a tailboard dock, a drive-in door and heavy power. Garry Holmes of R.W. Holmes Realty represented the seller, while Dean Blackey, also of R.W. Holmes Realty, represented the buyer in the transaction.
WILTON, CONN. — JRT Realty Group, working in conjunction with Cushman & Wakefield, has arranged four leases totaling 23,595 square feet at Wilton Woods Corporate Campus, located at 10 and 20 Westport Road in Wilton. The two-building, Class A office park is owned by TIAA-CREF. Property Group Partners has signed a five-year, 6,874-square-foot lease on the third floor of the 341,207-square-foot building at 20 Westport Road, and Stonebridge Advisors has inked a 10-year deal for 6,642 square feet of first-floor space at the 197,512-square-foot building at 10 Westport Road. Property Group Partners, which serves as property manager of the complex, represented itself in transaction, while Stonebridge Advisors was represented by Thomas Pajolek of CBRE. Additionally, at the 10 Westport Road building, Sierentz Fund renewed its 5,879-square-foot lease and Louis Dreyfus Family Office renewed its 4,200-square-foot lease. TIAA-CREF was represented by Greg Smith of JRT Realty Group and Kevin Foley and William Montague of Cushman & Wakefield in the transactions.
STAFFORD TOWNSHIP, N.J. — Walters Group is constructing a Five Below store at Stafford Park Shopping Center in Stafford Township. Slated for completion by mid-2016, the 8,176-square-foot retail space will be leased to Five Below under a 10-year contract. The 400,000-square-foot Stafford Park Shopping Center is occupied by Costco, Target, PetSmart, Dick’s Sporting Goods, Best Buy, Olive Garden, AT&T, The Vitamin Shoppe and Ulta Beauty, among others. Walters Group developed the center in 2008.
KEENE, N.H. — Brady Sullivan Properties has signed leases with five new tenants at its Colony Mill Marketplace and Center at Colony Mill in Keene. Curry Restaurant, Southern NH Services and Bruce Carey Insurance opened a total of 3,600 square feet at Colony Mill Marketplace, while Adecco and Prospect Place joined Center at Colony Mill with a total of 2,500 square feet. Benjamin Kelley and Charles Panasis of Brady Sullivan Properties brokered the transactions.
ITHACA, N.Y. — STREAM Capital Partners has arranged the sale of a 2,480-square-foot two-tenant retail property in Ithaca. A private investor purchased the property for $640,000 at a 6.25 percent cap rate. The property was under a short-term existing ground lease to the current tenants, Tim Hortons and Cold Stone Creamery. Susan Harris of STREAM Capital Partners represented the undisclosed seller in the transaction.
HAYWARD, CALIF. — Meta Housing Corp. has broken ground on the Downtown Hayward Senior Apartments, a 60-unit affordable seniors housing development in Hayward, 15 miles southeast of Oakland. The new development will include approximately 6,000 square feet of retail space on a nearly one-acre lot in the city’s downtown. Development costs are estimated at $26 million. Meta will develop the new apartment community in partnership with Community Home Builders and Associates. Redstone Equity Partners, Enterprise Community Partners Inc., Citibank, CalHFA, Federal Home Loan Bank of San Francisco, the State of California Department of Housing and Community Development (HCD), Alameda County Housing and Community Development Department, California Community Reinvestment Corporation, and the California Tax Credit Allocation Committee all provided financing for the project. Meta is a multifamily developer based in California that has developed more than 6,000 units.
LITTLETON, COLO. — An unidentified, out-of-state buyer has purchased the 54-unit Broadridge Apartments in Littleton for $8.3 million. The community is located at 6900 S. Bannock St. It was built in 1965. Jeff Johnson and Matt Ritter of Pinnacle’s Johnson Ritter Team represented the buyer, while the firm’s Josh Newell represented the seller in this transaction.
LAS VEGAS — AW Family Trust has acquired Durango Springs Plaza, a 15,800-square-foot retail center in Las Vegas, for $8.3 million. The center is located at 8520, 8530, 8550 W. Warm Springs Road. Chris Emanuel and John Blommer of Virtus Commercial represented the seller, DSP 1 LLC, in this transaction.
LOS ANGELES — Timberlane Partners has acquired a 24-unit apartment building in Los Angeles for $6.4 million. The vintage, 1920’s community is located at 425 S. Detroit St., in the Miracle Mile area of Mid-Wilshire. Ron Harris, Paul Darrow and Michael DiSimone of Marcus & Millichap’s Los Angeles office represented both the buyer and seller, a private investor, in this transaction.
PHOENIX — Scooter’s Coffee has announced plans to add new coffee shops to four states, which includes Phoenix, Ariz. Other states receiving outposts include Florida, Oklahoma and Arkansas. Once these locations are open, Scooter’s will have more than 130 stores in 14 states. It plans to open 25 new locations in the first half of 2016.