ASHLAND, MASS. — SVN|Parsons Commercial Group|Boston has acquired a retail center located at 300 Eliot St. in Ashland for $3.1 million. The 36,000-square-foot property is fully leased with long-term tenants. Garrett Quinn of SVN|Parsons Commercial Group|Boston brokered the transaction. The seller was Ash Realty Trust, which originally purchased the property in 1996. SVN|Parsons owns the adjacent flex/industrial buildings: 240 Eliot Street, 250 Eliot Street, 260-270 Eliot Street, 280 Eliot Street and 290 Eliot Street. With this purchase, Parsons has expanded its Eliot Street portfolio to 279,233 square feet across six buildings, while controlling 20 acres of land.
MANCHESTER, N.H. — NorthMarq Capital has arranged $2.3 million in refinancing for an apartment building located on Hayward Street in Manchester. The long-term, fixed-rate financing includes a flexible prepayment and competitive rate. The apartment building features 26 residential units. Michael Chase and Ed Riekstins of NorthMarq Capital secured the financing for the undisclosed borrower.
RAYNHAM, MASS. — Calare Properties has leased 40,000 square feet of industrial/flex space to OMNIlife science Inc. OMNI will relocate from its current location in East Taunton, Mass., and fully occupy the building, which is located at 480 Paramount Drive in Raynham. The building will serve as the medical technology company’s new headquarters. The facility features 20-foot clear ceiling heights, eight tailboard doors and 111 surface-level parking spaces. Steve Clancy of CBRE represented the tenant in the deal.
TEMPE, ARIZ. — Western Wealth Capital has purchased the 300-unit Signature Place Condominiums in Tempe for $40 million. The community is located at 4715 N. 32nd St. It is situated near Discovery Business Campus, ASU Research Park and Chandler’s Price Technology Corridor, known as the Silicon Valley of the Desert. Doug Lazovick, Eddie Chang, Alon Shnitzer, John Kobierowski and Rue Bax of ABI Multifamily represented both the buyer and the seller, Mercury Investment, in this transaction.
THOUSAND OAKS, CALIF. — NorthMarq Capital has arranged the $6 million refinancing of Skyline Center, a 36,900-square-foot retail property located in Thousand Oaks. The 10-year, non-recourse loan features a 30-year amortization schedule and a seven-year fixed rate that will switch to floating for the last three years. Joe Giordani of NorthMarq’s Los Angeles office secured the financing for the undisclosed borrower.
ONTARIO, CALIF. — Noble House Home Furnishings has leased Prologis Mission Distribution Center, a 741,458-square-foot industrial distribution center in Ontario. The Class A center is located at 3655 S. Philadelphia St. It was built in 2001 and acquired by Prologis in 2007. The center was completely vacant prior to this lease. Peter Castleton of Voit represented the national residential furniture manufacturer in the transaction.
PLACENTIA AND SAN DIEGO, CALIF. — Vestar has been selected to two retail properties in Placentia and San Diego. In the first assignment, Vestar will manage Placentia Square, a community retail center in Placentia. Located at the corner of Yorba Linda and Kraemer boulevards, Wells Fargo, Walgreens, Supercuts, Pick Up Stix, Subway and Rubios occupy the 27,930-square-foot center. In the second assignment, Clarion Partners selected Vestar to manage Courtyard at Carmel Mountain Ranch, a community retail center at 11134 Rancho Carmel Drive in San Diego. Best Buy, TJ Maxx, Staples, Petco and The Vitamin Shoppe occupy the 128,000-square-foot property. With these assignments, Vestar now manages more than 26 million square feet of retail space throughout the West Coast.
NORTH EAST, MD. — Trammell Crow Co. (TCC) has partnered with Diamond Realty Investments Inc. to develop Principio Commerce Center I, a 1.2 million-square-foot distribution center in North East. The property will be built on a 100-acre parcel within the 6 million-square-foot Principio Business Park. Home to existing tenants such as Restoration Hardware and General Electric, the industrial park is located adjacent to Route 40 and less than five miles from I-95. Principio Commerce Center I will feature a cross-dock design with 190-foot truck courts, 283 trailer stalls, up to 216 dock doors, 36-foot clear heights and an ESFR sprinkler system. Dave Dannenfelser of JLL and Mike Zerbe of Colliers International are handling Principio Commerce Center I’s leasing. Conewago is the project’s general contractor, and KSS Architects provided design services. PCCP provided a construction loan to TCC and Diamond Realty, which plan to deliver the asset in spring 2017.
CARLSBAD, CALIF. — Flocke & Avoyer Commercial Real Estate has arranged the lease of 1,270 square feet of space at Bressi Village, located at 2623 Gateway Road in Carlsbad. Cravory Holdings LLC signed a five-year lease with a consideration of $364,100 for the space where it plans to open a bakery. Stewart Keith and Bill Thaxton of Flocke & Avoyer represented the lessor, while Greg Bowman of Cushman & Wakefield represented the lessee in the deal.
LEBANON, TENN. — HSA Commercial Real Estate has partnered with Boston-based Great Point Investors LLC to co-develop a 652,000-square-foot speculative industrial building at Commerce Farms Business Center in Lebanon, a suburb of Nashville. Situated on 41 acres at the junction of State Route 840 and Highway 109, the distribution center will feature 32-foot clear heights, 116 truck docks, two drive-in doors and parking for 84 trailers and 257 cars. The partnership is scheduled to break ground on the facility later this month, with delivery planned in the first quarter of 2017. HSA Commercial and Great Point Investors have retained NorthStar Real Estate Advisors to oversee the marketing and leasing of the distribution center. The design team includes Chicago-based general contractor Premier Design + Build and architect Harris Architects Inc. HSA Commercial previously partnered with Great Point Investors to build a 220,000-square-foot distribution center near Indianapolis and a 218,500-square-foot spec industrial facility in north suburban Chicago.