JACKSONVILLE, FLA. — Colliers International’s Northeast Florida office has brokered the $4.4 million sale of a 105,737-square-foot Kmart located at 9600 San Jose Blvd. in Jacksonville. Atlantic Mini-Storage of America Inc. purchased the retail property from Jacksonville KM LLC. Jason Ryals and Gary Montour of Colliers represented the buyer in the transaction.
ROMEOVILLE, ILL. — Morgan/Harbour Construction has broken ground on a 28,928-square-foot medical office building for Presence Health Group in Romeoville, approximately 30 miles southwest of Chicago. The Presence Senior Healing Arts Pavilion will be located at 500 S. Weber Road. The facility will include a full imaging suite with MRI, CT, X-ray, mammogram, ultrasound and bone density capabilities. The building will also feature 26 exam and procedure rooms, physical therapy training facilities, labs, treatment rooms, private offices and a cafe. Construction is slated for completion in summer 2016. Hammes Co. is the project manager, and Jensen & Halstead Ltd. will provide architectural services.
LAKEWOOD, EUCLID AND WICKLIFFE, OHIO — Pillar has originated $9.1 million in Fannie Mae refinance loans for three apartment properties in Ohio. Joe Markech and Brooke Jackson of Pillar originated the three fixed-rate, 12-year loans that include a 30-year amortization schedule. Mayfair Apartments, a 144-unit building located in Lakewood, a western suburb of Cleveland, received $5 million in refinancing. Pillar also originated a $1.8 million loan at 65 percent loan-to-value for Euclid Terrace Apartments in Euclid, a northeastern suburb of Cleveland. The property consists of four two-story buildings totaling 91 units. The buildings were built in 1958 and 1964. Wickliffe Gardens & Manor also received a $2.2 million loan at 65 percent loan-to-value from Pillar. Located in Wickliffe, a northeast suburb of Cleveland, Wickliffe Gardens is a 55-unit building and Wickliffe Manor is a 26-unit apartment property.
WEST ALLIS, WIS. — The Dickman Company Inc./CORFAC International has arranged the sale of four industrial buildings totaling 240,000 square feet in West Allis, a Milwaukee suburb, for an undisclosed price. Stag West Allis LLC purchased the buildings from 114th St West Allis LLC and 114th St Acquisition LLC. Samuel M. Dickman Jr., Samuel D. Dickman and Cale Berg of The Dickman Company Inc./CORFAC International brokered the transaction. The assets are located at 2025, 2075, 2145 and 2207 S. 114th St.
FARMINGTON HILLS, MICH. — Lee & Associates has brokered the sale of a 187,235-square-foot industrial building in Farmington Hills, approximately 25 miles northwest of Detroit, for an undisclosed price. The building is located at 23333 Commerce Drive and was constructed in 1979. Features include a 30-foot clear height and 17 docks. Great Lakes Ace Hardware sold the asset to an undisclosed buyer. Jon Savoy of Lee & Associates represented both parties in the transaction.
HARRISON, N.J. — Ironstate Development Co. and The Pegasus Group have opened Harrison Station 330, a collection of 329 rental apartments in Harrison. Situated one block from the Harrison PATH station, the property features studio, one- and two-bedroom residences, a lobby/lounge, a courtyard with a swimming pool, a fitness center, and 9,600 square feet of street-level retail space. Revitalizing the former industrial area, the residential community is the third phase of a multi-phase development that the companies are constructing adjacent to the PATH station. The project’s first two phases include 275 apartments, more than 20,000 square feet of street-level retail space and a 138-key Element hotel. Once completed, the overall development will feature 2,250 residences and 80,000 square feet retail, in addition to the hotel. Residences at Harrison 330 currently offer monthly rents starting at $1,555.
MELROSE, MASS. — Wood Partners has broken ground for 37 Washington, a residential development in Melrose. The 88-unit property will feature granite countertops, stainless steel appliances, in-unit laundry and walk-in closets. Additionally, on-site amenities will include a courtyard with fire pit, and outdoor grills and seating. Leasing is expected to begin in November 2016, with the community slated to open in December 2016.
WESTVILLE, N.J. — Houlihan-Parnes Realtors has arranged the sale of Inverness Apartments, a garden-style apartment complex located at 5600 Shetland Way in Westville. Coolidge Inverness LLC sold the property to an undisclosed buyer for $27.3 million. Situated on more than 30 acres, the property features 368 multifamily units. Robert Tiburzi of Houlihan-Parnes Realtors brokered the transaction.
PHILADELPHIA — A partnership between The Goldenberg Group, Hines and ASB Real Estate Investments has broken ground for a residential tower located at 1213 Walnut St. in Philadelphia’s Center City. At 26 stories and 300,000 square feet, 1213 Walnut will feature 332 for-rent studio, one- and two-bedroom residential units. Additionally, the tower will feature more than 7,200 square feet of retail space on Walnut and Sansom streets and more than 11,000 square feet of amenities, including a great room, outdoor terrace, gaming area, entertainment kitchen, private conference area, a 3,000-square-foot fitness center, rooftop deck, an elevated private dog park and bicycle storage. The project team includes Design Collective Inc. as base-building architect, RD Jones & Associates as interior designer and architect, and Hunter Roberts Construction Group as general contractor. Wells Fargo Bank is providing construction financing for the project, which is slated for occupancy in summer 2017. This project is the first joint venture between Goldenberg, Hines and ASB.
BASKING RIDGE, N.J. — Onyx Equities and Rubenstein Partners have completed a $9 million renovation of a 300,000-square-foot office property located at 211 Mount Airy Road in Basking Ridge. The repositioning program included a new multistory lobby with a 15-foot media wall, refurbished common areas, a fitness center with locker rooms, a cafeteria and a 127-seat auditorium. Additionally, the building’s façade was removed and replaced with a glass curtain wall allowing more natural light and views of the 52-acre campus. Newmark Grubb Knight Frank is handling leasing for the property, which is owned by Onyx and Rubenstein.
