DEDHAM, MASS. — Savills Studley has brokered the sale of a 20,000-square-foot flex building located at 60 Stergis Way in Dedham. Needham, Mass.-based Fulcrum Real Estate Partners purchased the property for $2.2 million from Boston Irrigation Supply Co. The property is currently leased to John Deere Landscapes. Steve Woodworth of Savills Studley’s Boston office represented the seller in the transaction. The buyer was not represented.
WINCHESTER, MASS. — SVN | Parsons Commercial Group | BOSTON has brokered the sale of an office/flex property located at 29 East St. in Winchester. Little Flippers Swim School Inc. purchased the 18,000-square-foot property for $1.9 million from Devereaux Trust. The buyer plans to renovate the building to accommodate a year-round, indoor swim school for children. Marci Alvarado and Jake Parsons of SVN | Parsons Commercial Group | BOSTON represented the buyer, while Glenn Rhudda and John Webster of Mohr Partners represented the seller in the transaction.
MINNEAPOLIS — General contractor Doran Construction has begun construction on a $12 million renovation of the Depot Renaissance Hotel located in downtown Minneapolis. Owner CSM Corp. first developed the hotel, located at 225 3rd Ave South, in 2001. The renovation includes the demolition of a water park inside of the hotel that will make room for an additional 110 guest rooms, a fitness center and indoor pool. The project also includes adding a floor, making a total of six floors and 312 rooms in The Depot. In 2015, Doran is building several projects totaling more $190 million in new construction.
NILES, ILL. — Meridian Design Build has completed construction on a 306,448-square-foot automated package sortation and distribution center in Niles, 15 miles northwest of Chicago, for an undisclosed delivery service company. Scannell Properties was the project developer. The new build-to-suit facility is located on a 34-acre redevelopment site at the southeast corner of Howard Street and Lehigh Avenue. A majority of the project involved the demolition of multiple parking lots and an existing 756,000-square-foot industrial building. The facility features 101 loading docks, 562 auto parking stalls, 236 interior van-loading positions and 249 exterior trailer stalls. Additional construction included a freestanding 5,180-square-foot vehicle maintenance garage and 2,400-square-foot gateway security building. Precept Design provided architectural and structural design services. Spaceco Inc. completed civil engineering work.
CLEVELAND, OHIO — Friedman Integrated Real Estate Solutions will auction off a 41,780-square-foot retail center in Cleveland on Aug. 31-Sept. 2 on behalf of an undisclosed seller. Constructed in 1993, Brooklyn Centre is located at W. 25th St. and sits on a three-acre site. The property is 57 percent occupied. The center is comprised of three buildings, the largest of which is 29,780 square feet. The two smaller buildings are each 6,000 square feet. One building is divided for multi-tenant use and the other is configured for a single tenant. Tenants of the property include Rent-A-Center, CVS Pharmacy, America Cash Express and Cricket. Bidding for the Brooklyn Centre will start at $600,000, according to auction.com. Barry Swatsenberg and Rich Deptula of Friedman Integrated Real Estate Solutions are representing the seller. The auction will take place online at auction.com
DAYTON, OHIO — Marcus & Millichap has brokered the $2.1 million sale of a 5,780-square-foot building net leased to National Tire & Battery (NTB) in Dayton. The auto service center is located off I-75 at 2892 Miamisburg-Centerville Road and is less than a mile from the Dayton Mall. Barry Wolfe and Alan Lipsky of Marcus & Millichap’s Fort Lauderdale office represented the seller, a private individual. Michael Glass of Marcus & Millichap’s Ohio office represented the buyer, a limited liability company based in Lexington, Ken.
CHESTERFIELD TOWNSHIP, MICH. — L. Mason Capitani CORFAC International has signed Eclipse Mold Inc. to a seven-year, 86,772-square-foot industrial lease in Chesterfield Township, about 30 miles northeast of Detroit. A family-owned business for nearly 40 years, Eclipse Mold is headquartered in Clinton Township, Mich. The company specializes in the manufacturing of plastic injection molding. Located at 50300-50320 Patricia St., the industrial building will enable Eclipse Mold to expand its operations while satisfying the needs of its Tier 1 automotive customers. Joe DePonio and Jason Capitani of L. Mason Capitani CORFAC International represented the undisclosed landlord in the transaction.
PLANO AND CONROE, TEXAS — The Global Healthcare Services division of Newmark Grubb Knight Frank (NGKF) has completed the $56 million sale of a two-property medical office building (MOB) portfolio comprising the 94,359-square-foot Legacy Medical Village in Plano and the 68,832-square-foot Conroe Medical Arts and Surgical Center in Conroe. Garth Hogan, Todd Perman and Chris Gordon of NGKF represented the seller in the transaction. The buyer, American Realty Capital, was self-represented. Legacy Medical Village was built in 2007 and is located at 5425 W. Spring Creek Parkway within the Legacy Business Park. The MOB is located between the Children’s Medical Center Plano and the Texas Health Presbyterian Hospital. Conroe Medical Arts and Surgical Center was built in 2003 and is located at 1501 River Pointe Drive adjacent to the Conroe Regional Medical Center hospital campus. The two medical office buildings are 93 percent leased to healthcare providers, including specialists and primary care physicians. The Conroe facility includes an ambulatory surgical center owned by Tenet Healthcare.
HALTOM CITY, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Bellagio at Beach Street, a 398-unit apartment complex in Haltom City. Will Balthrope and Drew Kile of IPA represented the seller and procured the buyer in the transaction. The community is located at 4200 Northern Cross Blvd., seven miles from downtown Fort Worth and one mile from I-35. The community is located near the 1,300-acre Mercantile Center business park, which is home to nearly 70 companies and more than 10,000 employees. Amenities at Bellagio at Beach Street include a gated entrance, attached garages, covered parking, business center, swimming pool, barbecue grills, fitness center, playground and an outside fire pit. Apartments feature a private patio or balcony, dishwashers, garbage disposals and ceiling fans.
DALLAS — Greysteel has arranged the sale of Milano, a 16-unit multifamily building in Dallas. Boyan Radic, Doug Banerjee, Andrew Mueller and John Marshall Doss of Greysteel represented the seller, Cutch Inc., in the sale. Old East Milano LLC was the buyer. Milano includes one-bedroom, one-bath apartments with three floor plans. The property is close to major employment centers, retail and entertainment options.