UPLAND, CALIF. — Marcus & Millichap has arranged the $7.3 million sale of Junction Route 66 Plaza, an 18,297-square-foot shopping center located in Upland. Josh Rey, Pablo Rodriguez and Richard Vincent of Marcus & Millichap worked on behalf of the seller, a personal trust, and Edward Kim of Realtyland Co. Inc. secured the undisclosed buyer in the transaction. Tenants at the center include Jiffy Lube, Popeye’s Chicken and Carl’s Jr., occupying the outparcel.
HOUSTON — IronEdge Group, a Houston-based technology consulting firm and IT services provider, has signed a lease for 13,008 square feet of office space. The new office, which is located at 3000 Wilcrest Drive in Houston, will be the firm’s new corporate headquarters. Rob Johnson of Lee & Associates-Houston represented IronEdge Group in the lease transaction. Randi Carrabba of Client 1st represented the landlord, Jeffrey Westchase LLC.
BOLINGBROOK, Ill. — Colliers International has brokered the acquisition of two properties in Bolingbrook, which is 30 miles southwest of Chicago. Prologis bought the properties located at 800 and 850 S. Veterans Parkway from International Airport Centers for an undisclosed price. The properties are located within Remington Lakes Business Park. Colliers International represented both the buyer and seller in the acquisition and has also been hired by Prologis to lease the properties. 800 S. Veterans Parkway is a 325,144-square-foot industrial facility constructed in 1999 that is situated on 16 acres. It features nearly 25,000 square feet of office space, 291 parking spaces and 46 docks. The adjacent property, 850 S. Veterans Parkway, is a 361,176-square-foot facility constructed in 1997 that is situated on 32 acres. It features 30-foot ceiling height, ESFR sprinklers, 37 dock positions and three drive-in doors. Both properties were vacant at the time of sale.
DYER, IND. — Skilled nursing developer Mainstreet and operator Symphony Post Acute Network have opened Symphony of Dyer, a skilled nursing facility in Dyer approximately 30 miles south of Chicago. Construction on the facility began in June 2014. It comprises 130 beds in 85,108 square feet of space. Development costs were $20.8 million.
BURLINGTON, MASS. — The Gutierrez Company has completed the disposition of the second phase of an office and R&D facility in Burlington. Cole Offices & Industrial REIT (CCIT II) Inc. acquired the property for $119.8 million. The 280,560-square-foot office facility is currently leased to Keurig Green Mountain Inc. and features an 875-space parking structure. The first phase of the property, which was not included in the transaction, features 150,700 square feet of office/R&D space. Robert Griffin, Matt Pullen and Michael Frisoli of Cushman & Wakefield represented the seller, while VEREIT Inc. represented the buyer in the transaction.
NEW YORK CITY — New York Life Real Estate Investors has completed the sale of an office building located at 575 Lexington Ave. in Midtown Manhattan’s Plaza District submarket. The sellers were a joint venture partnership that included Prudential Real Estate Investors and Normandy Real Estate Partners. The partnership acquired the 745,000-square-foot building in 2012 and repositioned the property with a full renovation of the lobby and storefront, new elevator cabs, modernized building systems and new tenant fit-outs. Additionally, the partnership renewed and expanded Cornell University’s lease at the building to a total of 212,000 square feet through 2028. The name of the buyer and the acquisition price were not released.
GREENWICH, CONN. — Allied Property Group has arranged the sale of a mixed-use building located at 125 Greenwich Ave. in Greenwich. JENN Realty sold the property to an undisclosed buyer for $13.5 million. The three-story building features 16,000 rentable square feet. Thomas Torelli of Allied Property Group represented the seller, while Goldschmidt Associates represented the buyer in the transaction.
WEST ROXBURY, MASS. — CBRE/New England’s Multifamily Debt & Structured Finance group has arranged $7.5 million in acquisition financing for a multifamily property located at 218 and 250 Spring St. in West Roxbury. An affiliate of Yee Enterprises acquired the two-building, 55-unit property for $9.4 million. Constructed in 1968, the property is 100 percent market-rate apartments with a mix of studio, one-bedroom and two-bedroom units. John Kelly and Sam Dylag of CBRE/NE secured the financing through a local bank on behalf of the buyer. The name of the seller was not released.
LEXINGTON, KY. — BC Wood Properties has purchased three Kroger-anchored shopping centers totaling 290,000 square feet for a combined $30.4 million. The shopping centers include Merchants Crossing in Jackson, Mich.; Shoppes of Hope Valley in Durham, N.C.; and Ridgewood Farm in Salem, Va. The Lexington-based company purchased the assets from a single seller via BCW Strategic Alliance Fund LP, the company’s second private equity fund.
GREENVILLE, N.C. — KeyBank Real Estate Capital has arranged a $14.3 million CMBS loan for The Hilton Greenville, a 141-room hotel located at 207 Greenville Blvd. S.W. in Greenville. The hotel is situated on the 32-acre Greenville Convention Center campus and is within two miles of East Carolina University. Scott Bois of KeyBank’s commercial mortgage group arranged the non-recourse loan on behalf of the undisclosed borrower.
