CHATTANOOGA, TENN. — Ziff Properties Inc. has acquired Signal Mountain Shopping Center in Chattanooga for $4.8 million. The 61,284-square-foot center is anchored by a BI-LO grocery. Sharon Bands and Susan Bands of Marcus & Millichap represented the seller. Ziff Properties was self-represented by Christian Chamblee.
WOODBRIDGE, N.J. — A joint venture between Advance Realty and F. Greek Development has completed the construction of a refrigerated storage and distribution center in Woodbridge. Preferred Freezer Services, a worldwide operator of temperature-controlled warehouses, has leased the 190,000-square-foot built-to-suit facility. Located on 9.3 acres at 275 Blair Road, the facility is designed to accommodate temperatures of negative 10 degrees and features a 53-foot clearance height.
NEW YORK CITY — New York Life Real Estate Investors has originated $205 million in financing for an office tower, located at 757 Third Ave. in Midtown Manhattan. Multi-Employer Property Trust, as advised by Bentall Kennedy (U.S.) Limited Partnership, owns the 503,000-square-foot Class A office property. The loan has a term of 15 years. Eric Becher of New York Life Real Estate Investors’ New York regional office negotiated the transaction.
PAOLI, PA. — CBRE has brokered the sale of Paoli Medical Plaza, a medical campus located adjacent to Paoli Hospital in Paoli. Griffin-American Healthcare REIT III Inc., through its sponsor American Healthcare Investors LLC, has acquired the three-building 99,059-square-foot property from Paoli Office Park Partners, a partnership affiliated with Blank Aschkenasy Properties, for an undisclosed price. Current tenants include Paoli Hematology/Oncology, Philadelphia Hand Center, Main Line Health, Premier Orthopedics, Aligned Medical Group, Urology Health Specialists, Women’s Health Care Group of PA and LabCorp. Steve Marzullo, Justin Marlowe, Chris Bodnar and Lee Asher of CBRE represented the seller in the transaction.
STOUGHTON, MASS. — Senate Construction Corp. has completed the renovation of the 73,000-square-foot Stoughton Town Center in Stoughton. The project consisted of a new façade with architectural gables that enhance tenant signage and visibility, minor re-painting of the exterior and new LED lighting throughout the parking area. The construction was completed on behalf of Tri-Town Commons LLC, a joint venture of Winstanley Enterprises LLC and Silvera Asset Group LLC. The project team included Winstanley Construction Management, Winstanley Property Management, Phase Zero Design Inc. as project architect, Alfred Benesch & Co as civil engineer and Amolions Structural Consultants Inc. as structural engineer.
PISCATAWAY, N.J. — Colliers International has arranged a long-term 30,000-square-foot lease for Paychex North America Inc. to relocate to One Centennial Plaza in Piscataway. Paychex, a provider of payroll, human resource and benefits outsourcing solutions for small to medium-sized businesses, will relocate to a portion of the first floor of the three-story, 236,961-square-foot office building this fall. The property features a conference and training center, security desk, on-site property management, 24/7 access, a full-service cafeteria and an outdoor seating area. Richard Madison and Jack Callahan of Colliers represented the landlord, while Michael Maroon of Acclaim Group represented Paychex in the transaction.
SAN DIEGO — Greystar has acquired a development parcel within the new master-planned development of Ballpark Village in San Diego. The mixed-use project sits adjacent to Petco Park in the city’s Ballpark District. Greystar’s site is slated for a 37-story, 446-unit multifamily tower. The purchase price was not disclosed. The asset will offer views of the Pacific Ocean, San Diego Bay, Coronado Island and bridge, Balboa Park, Point Loma and the Downtown skyline. Community amenities will include a rooftop pool, clubhouse, spa, fire pit and barbecue area. The property will also feature a three level parking garage and 24,000 square feet of retail space. The seller, a joint venture between JMI and Lennar, was represented by JLL’s Darcy Miramontes, Lynn LaChapelle, Bob Prendergast and Kip Malo. Ballpark Village is slated for completion in 2018.
SAN FRANCISCO — Round One, a Japan-based, family friendly entertainment center, has announced plans to open six new locations this year throughout the U.S. This is in addition to the five centers it currently operates. Round One also intends to open eight more locations in 2016. The new concept will soon debut at Westfield Southcenter Mall in Seattle; Eastridge Shopping Center in San Jose, Calif.; and Main Place Mall in Santa Ana, Calif. It will also open outposts in Pennsylvania and Massachusetts. The family entertainment centers typically range between 45,000 square feet and 80,000 square feet. They offer a variety of activities like karaoke, bowling, billiards, ping pong and darts, in addition to food and beverage options. Round One has existing California locations at Lakewood Center Mall in Lakewood; Moreno Valley Mall in Moreno Valley; and Puente Hills Mall in the City of Industry. It also has centers in Texas and Illinois. The company is actively looking for new locations in gateway Northeast markets, as well as in strong retail trade areas like Washington, Oregon and California, according to RKF’s David Friedman, who arranged the six new leases for Round One. Round One currently operates more than 100 locations in …
RENO, NEV. — A 707,010-square-foot space in the Reno area that is occupied by Zulily.com has sold to CBRE Investments for $41.7 million. The space is located at 3200 USA Parkway, within the Tahoe Reno Industrial Center in the submarket of McCarran. Zulily is an e-commerce discount retailer. The seller, US RIO LP, was represented by Michael Nevis, Dave Simonsen, J. Michael Hoeck and Steve Kucera of NAI Alliance.
SEATTLE — Donahue Schriber Realty Group has acquired Interbay Urban Center, an 80,560-square-foot shopping center in Seattle, for an undisclosed sum. The center is located at 1827 15th Ave. Interbay is anchored by Whole Foods Market. It is situated just three miles northwest of Downtown Seattle near the communities of Magnolia, Queen Anne, Ballard and Interbay. The center is fully leased. This is Donahue Schriber’s third Seattle-area acquisition in the past four months.
