TAYLOR, MICH. — Colliers International has arranged a 15,000-square-foot industrial lease for A&R Logistics Inc. in Taylor, a southwest suburb of Detroit. A&R Logistics specializes in dry bulk transportation and will use the space to store and clean bulk tanker trucks. The facility is located at 25086 Brest Road. Thomas Schoenberger of Colliers International represented the tenant in the transaction. The landlord, Gordon Mobley, was self-represented.
PEARL RIVER, N.Y. — Industrial Realty Group (IRG) has acquired the more than 2 million-square-foot Pfizer campus in Pearl River, located 20 miles north of Manhattan. IRG plans to transform the 200-acre campus into a dynamic mixed-use, multi-tenant campus, which will bring businesses and job opportunities to Rockland County. The acquisition includes approximately 38 buildings of laboratory, manufacturing, office and support buildings. Pfizer will retain and operate 500,000 square feet and lease back approximately 1.2 million square feet from IRG. Terms, including sales price, of the acquisition were not released. IRG plans to transform the 2 million-square-foot Pfizer campus in Pearl River, N.Y., into a mixed-use, multi-tenant campus.
WOBURN, MASS. — The Davis Cos. partnered with The Rubicon Cos. to acquire the Hilton Hotel at Two Forbes Road in Woburn for an undisclosed price. Situated on eight acres, the full-service hotel features 344 rooms and ample on-site parking. The partnership is working with CBT Architects and hotelier Robin Brown to reposition the property. The renovations will include a reimagined atrium featuring an inviting, contemporary restaurant and lounge; an indoor pool; state-of-the-art fitness center; executive lounge; and an 18,000-square-foot function room and ballroom. The renovation work, which includes a $15 million property improvement plan to meet Hilton brand standards, is scheduled to start in the fourth quarter of 2016. Managed by Pyramid Hotel Group, the hotel will remain operational throughout the renovation process.
LOCKPORT, N.Y., AND KOKOMO, IND. — Stan Johnson Co. has arranged the sale of two grocery stores located in Lockport and Kokomo for a combined $15.3 million. Bluejay Management LLC acquired the 55,000-square-foot Tops Markets at 3945 Lockport-Olcott Road in Lockport and the 55,264-square-foot Marsh Supermarket at 208 E. Southway Blvd. in Kokomo. Josh Pardue of Stan Johnson Co. represented the seller, Fields Realty, in the transaction.
NEW YORK CITY — Silver Arch Capital Partners, a private lender, has closed an $8 million first mortgage loan secured by two mixed-use properties in New York City. The borrowers, Mooney House LLC and 127 Mott Street LLC, will use the loan proceeds to pay off an existing mortgage, renovate the properties and fund reserves and closing costs. The properties are 18 Bowery/1-7 Pell St., which features four residential apartments and two ground-level commercial spaces in two buildings; and 127 Mott St., which consists of 12 residential units and one commercial space in two buildings. Both properties were acquired in 2014 and have undergone more than $375,000 in capital improvements. Additionally, each property has more than 6,000 square feet of excess development rights.
PORTLAND, MAINE — Colliers International has brokered the sale of an industrial property located at 264 Freestone Drive in Portland. Freestone Avenue LLC acquired the facility from Essentra Packaging US Inc. for $1.2 million. Situated on 6.3 acres, the 107,639-square-foot property was formerly the Clondalkin Pharma & Healthcare facility. Biff Zoephel of Colliers International brokered the transaction.
SAN DIEGO — Clarion Partners has purchased Pacific Technology Park, a 544,352-square-foot office park in San Diego, for a reported $90 million. The park is located at 9389-9477 Waples Street in the Sorrento Mesa submarket. Pacific Technology Park was 80 percent leased at the time of sale. Notable tenants include Thermo Fisher, Qualcomm, Novartis, DirectMed, True Temper, Raytheon, Cintas and Tritech. Clarion represented itself, while Jeffrey Cole, Jeff Chiate and Ed Hernandez of Cushman & Wakefield represented the seller, CBRE Global Investors.
GLENDALE AND TEMPE, ARIZ. — Lee & Associates has arranged the sale of two Arizona shopping centers for a combined $16.4 million. Properties include 51st & Olive Square, an 88,225-square-foot shopping center located in Glendale; and Playa Del Norte, an 11,499-square-foot shopping center located in Tempe. Patrick Dempsey and Jan Fincham of Lee & Associates worked on behalf of both the buyer, 51st & Olive Station LLC, and the undisclosed seller in the 51st & Olive Square transaction. Dempsey, Fincham, Chris McClurg and Matt Frederick of Lee & Associates co-listed and secured the buyer, Crow Holdings Capital Real Estate, in the Playa Del Norte transaction.
BUENA PARK, CALIF. — Golden Capital Venture has purchased the 200-room Radisson Suites Buena Park for an undisclosed sum. The hotel is located at 7762 Beach Blvd. in the Orange County submarket of Buena Park. It is situated within the Buena Park Entertainment Zone. The buyer plans to make improvements to the hotel and rebrand it as Radisson Suites Anaheim-Buena Park. Golden Capital Venture is a subsidiary of INVOBAL Corporation. Daniel Shaunt of Reeco represented the company. CBRE’s Bob Kaplan and Rod Apodaca represented the seller, Khanna Enterprises Ltd.
TEMPE, ARIZ. — University House Communities has opened the second phase of University House, a 16-story, 148,680-square-foot building with 242 beds and two-, three- and four-bedroom options near Arizona State University’s campus. Designed by Dallas-based architecture firm BOKA Powell to complement the existing adjacent first phase, University House amenities include a resort-style pool and hot tub, a scoreboard-sized LED outdoor TV screen, a clubroom with gaming systems, a yoga and steam room, fitness center, outdoor grilling stations as well as indoor/outdoor study areas and conference rooms. Apartments range from 716 to 1,289 square feet, with fully equipped kitchens. Each unit has floor-to-ceiling windows that provide views of the Sun Devil Stadium across the street. Units are available to students for nine- and 12-month leases. Sixthriver Architects completed the interior design for the new tower. Materials and furnishings include mirrored tile, natural wood planks and exposed concrete.