FORT WAYNE, IND. — Bradley Co. has arranged three leases totaling 10,572 square feet in Fort Wayne. In the first transaction, Convoy Safety Technologies LLC inked a deal to occupy 5,400 square feet of industrial space located at 6049 Highview Drive. Kienan O’Rourke of Bradley represented the tenant in the transaction. The landlord was undisclosed. In a second leasing deal, Benchmark Family Services Inc. agreed to take 3,300 square feet of office space owned by Crown Properties 2 LLC and located at 1625 Magnavox Way. Russ Jehl of Bradley represented both parties in the transaction. In the third deal, Rivers Edge Construction took 1,872 square feet of industrial space located at 7616 DiSalle Boulevard. Russ Jehl of Bradley represented both the landlord, 7616 DiSalle Boulevard Partnership, and the tenant, in the transaction.
TAMPA, FLA. — Berkadia has originated five loans totaling $75.8 million for five multifamily communities in Florida. Mitch Sinberg, Michael Wallace and Matthew Robbins of Berkadia’s South Florida office arranged all five loans on behalf of the borrower, Insula Cos., an owner and manager of apartment communities in Florida. The loans included a $23 million refinance loan for The Valencian Apartments in Kissimmee; $19.2 million acquisition loan for Charter Pointe Apartments in Altamonte Springs; $12.6 million refinance loan for Park East Apartments in Tampa; $10.5 million recapitalization loan for St. Moritz Apartments in Tampa; and a $10.5 million recapitalization loan for Miramar in Kissimmee.
DURHAM, N.C. — Federal Capital Partners (FCP) has signed Duke University to a lease renewal and expansion totaling 188,000 square feet in Durham. Duke has extended its lease at Erwin Square Plaza, a Class A, 238,792-square-foot office tower located on Main Street in downtown Durham. Duke University and its affiliates currently lease a majority of the building. FCP’s property is also home to restaurants such as Parizade Café, Local 22 and Guasaca. Brad Corsmeier and John Brewer of CBRE|Raleigh represented FCP in the lease transaction. Austin Koon, Jeff Miller and Maggie Clougherty of Davis Moore Advisors represented Duke University.
ORLANDO, FLA. — HFF has arranged the $21.1 million sale of Southchase Village, a 229,410-square-foot, grocery-anchored shopping center located at 12381 S. Orange Blossom Trail in Orlando. The center’s tenant roster includes Aldi, Bealls Outlet, Ross Dress for Less, Fallas Paredes, Planet Fitness, Tuesday Morning and a seven-screen Touchstar Cinemas. Brad Peterson and Whitaker Leonhardt of HFF represented the seller, Equus Capital Partners Ltd., in the transaction. Viking Partners LLC purchased the property from Equus free and clear of existing debt.
WEST PALM BEACH, FLA. — CBRE has brokered the $10.2 million sale of Horizons Office Building, an eight-story, 64,247-square-foot asset located at 1401 Forum Way in West Palm Beach. AW Horizons LLC purchased the office building and an attached parking garage from Pebb Forum LLC. Scott O’Donnell, Dominic Montazemi, Miguel Alcivar, Greg Miller and Anthony Librizzi of CBRE represented the seller in the transaction. Additionally, Jason Hochman of CBRE arranged an $8 million, 10-year acquisition loan through an unnamed CMBS lender on behalf of the buyer.
LOS ALTOS, CALIF. — RLJ Lodging Trust has purchased Los Altos Hotel Associates LLC’s interest in the 156-room Residence Inn by Marriott in the Silicon Valley submarket of Los Altos for $70 million. The hotel is located at 4460 El Camino Real. The Residence Inn opened in 2000. It recently underwent a renovation that included upgrades to the public areas and guestrooms. The hotel caters to extended-stay travelers visiting nearby Palo Alto and Stanford University. Major corporate employers in the area include Hewlett Packard, VMware, SAP, Google, Intuit, Stanford University and Hospital and LinkedIn. Scott Griemsmann of Paramount Lodging Advisors represented the seller in this transaction.
COSTA MESA, CALIF. — Steelwave & Goldman Sachs has purchased a 180,000-square-foot office campus in Costa Mesa for $48 million. The property is located at 3333 South Susan St. The seller, Emulex Corp., occupies the largest of the three buildings. The remaining two vacant buildings contain a total of 84,000 square feet that will be repositioned as creative office space. The site features 14.2 acres with 3.2 acres that can be used for future development. CBRE’s Paul Jones, Kevin Shannon, Gary Stache, Anthony Delorenzo and Blake Bokosky represented Emulex in the deal.
HOLLYWOOD, FLA. — Aztec Group Inc. has arranged the $6.6 million sale of a three-story, 20,000-square-foot office building located at 3801 Hollywood Blvd. in Hollywood, a city in South Florida’s Broward County. Bank of America anchors the multi-tenant property. Howard Taft and Charles Penan of Aztec Group brokered the sale and arranged a five-year, $3.9 million acquisition loan through City National Bank on behalf of the buyer, an affiliate of New York-based RAF Ridge. The loan features a fixed 4.25 percent interest rate and a 25-year amortization schedule.
AZUSA, CALIF. — Lagunitas Brewing Company has leased 254,840 square feet of industrial space in Azusa. The new space will be situated inside a speculative, three-building industrial business park located at 1207 – 1223 10th Street. The site offers easy access to Interstates 210, 605 and 5. The facility will serve as the company’s third production brewery, with an initial capacity of about 420,000 barrels per year. JLL’s Paul Sablock, Nicole Welch and Peter McWilliams represented both the landlord, Xebec, and Lagunitas in this lease transaction.
PHOENIX — OpenPath Investments has purchased the 160-unit Ventana Palms Apartments in Phoenix for $8.5 million. The community is located at 7021 W. McDowell Road. It was built in 1989. OpenPath will invest $1.5 million in interior and exterior upgrades to the property.