BROOKFIELD, WIS. — The Dickman Company Inc./CORFAC International has brokered the sale of a 25,520-square-foot industrial building in Brookfield, 13 miles west of Milwaukee. Theomax Real Estate LLC purchased the building from LPM Group LLC for an undisclosed price. The facility is located at 3280 Gateway Road. Samuel M. Dickman Jr., Samuel D. Dickman and Roger Siegel of The Dickman Company brokered the transaction.
NEW YORK CITY — La Mesa Verde Apartments LLC has acquired a six-building multifamily portfolio in the Jackson Heights section of Queens. BRG Queens LLC sold the portfolio for $72 million. Built in 1927, the buildings are located at 3419-34-47 90th St. and 3418-34-46 91st St. Totaling 191,808 square feet, the portfolio features 324 residential units. Aaron Jungreis of Rosewood Realty represented the buyer and seller in the deal.
NEW YORK CITY — CIT Group Inc. served as sole lead arranger for a $65 million senior secured construction loan for MC 19 East Houston LLC, a joint venture between Madison Capital and Vornado Realty Trust. Proceeds of the loan will be used to finance the acquisition and construction of a six-story, 34,170-square-foot retail and office building located on the corner of Broadway and Houston Street in SoHo. The property will feature 11,419 square feet of retail space and 22,751 square feet of office space. Financing was provided by CIT Bank, the principal bank subsidiary of CIT. Additional terms of the transaction were not disclosed.
DERRY, N.H. — NG Hood Commons LLC has completed the disposition of Hood Commons, a grocery-anchored shopping center located in Derry. An affiliate of New York-based Northeast Capital Group acquired the 208,805-square-foot property for an undisclosed price. Located at 55 Crystal Ave., the 23-acre property is 86 percent leased to tenants, including Shaw’s Supermarket, Big Lots, Tractor Supply Co., Planet Fitness and Sally Beauty. Jim Koury of HFF represented the seller in the transaction. Additionally, HFF assisted the buyer in securing a 70 percent loan-to-value, 10-year acquisition loan with a 3.79 percent fixed rate.
WARWICK, R.I. — Sarchi Group has acquired Sheraton Providence Airport Hotel, a full-service hotel adjacent to T.F. Green Providence Airport in Warwick. Located at 1850 Post Road, the 207-room hotel features concierge services, a fitness center, indoor pool, Sheraton Club Lounge, complimentary high-speed Internet access and BlueFire Grille. Denny Meikleham and Alan Suzuki of HFF represented the buyer and undisclosed seller in the deal.
TOTOWA, N.J. — Tulfra Real Estate has signed a 10-year lease extension with ADT Security Service for 225,000 square feet of space at 930 Riverview Drive in Totowa. ADT will continue to occupy suite 800 at Totowa Business Center through 2030. Originally constructed in 1962 and redeveloped in 1998, the property is situated on 17.4 acres and features more than 800 parking spaces. Tom Consiglio, Gregg Sabato and Scott Peck of Resource Realty represented the landlord, while Brian Godow of CBRE represented the tenant.
CHARLESTON, S.C. — Publix Super Markets has leased 45,000 square feet for a new store within a master-planned project known as WestEdge, a research-oriented urban infill development in downtown Charleston. The 25-acre development will be situated along the Ashley River adjacent to The Medical University of South Carolina (MUSC). The development team includes HPF Inc., Gateway Development Services, South City Partners and Charleston-based WRS Realty. Publix will anchor 10 WestEdge, a building that will include an 870-space parking garage, 350 apartments and street-level retail space. The Publix will be located next door to 22 WestEdge, a Class A office and research building. Construction on 10 WestEdge is expected to begin in August and wrap up by third-quarter 2018. Construction on 22 WestEdge is expected to begin in the fourth quarter with a spring 2018 completion. Additionally, construction is underway on 99 WestEdge, another mixed-use project within the larger WestEdge development. Phase I of WestEdge, which comprises 10 WestEdge, 22 WestEdge and 99 WestEdge, represents more than $250 million in private investment.
ORLANDO, FLA. — Williams Co. Southeast, an Orlando-based general contractor and construction manager, plans to remodel more than 20 Target stores in Florida and North Carolina. The company recently finished the remodel of three Florida stores in Gainesville, Jacksonville and Wesley Chapel and two North Carolina stores in Durham and Greensboro. Williams expects to wrap up construction of all the remodeled stores by October. The company has previously constructed more than 400 Target projects in 11 states.
SIMPSONVILLE, S.C. — KeyBank Real Estate Capital has arranged a $10 million Fannie Mae loan for The Lexington Place Apartment Homes in Simpsonville. Built in 2000, the 144-unit apartment community is situated on 10.3 acres. Timothy DeWispelaere of KeyBank’s commercial mortgage group arranged the 10-year, non-recourse loan on behalf of the undisclosed borrower.
DELRAY BEACH, FLA. — Marcus & Millichap has brokered the $8.3 million sale of a net-leased Urban Outfitters store located at 306 E. Atlantic Ave. in Delray Beach. Urban Outfitters signed a 10-year lease with two five-year renewal options in May 2014. The 11,073-square-foot, two-story store is fully leased to Urban Outfitters. Howard Bregman of Marcus & Millichap’s Fort Lauderdale office represented the buyer, Menin Development Inc., in the transaction. Last year Bregman represented Menin in acquiring the neighboring George Buildings at 326 and 400 E. Atlantic Ave.