TAMPA, FLA. — Avison Young has brokered the $3.5 million sale of Stadium Executive Center, a 27,503-square-foot, Class B office building in Tampa. The two-story property is located at 4107 Himes Ave. Trey Carswell and Lauren Coup of Avison Young represented the seller, RMS Assets LLC, in the transaction. The buyer, Roche Surety & Casualty Co. Inc., will occupy the second floor of the property and maintain three leases on the first floor.
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STUART, FLA. — Marcus & Millichap has brokered the sale of Hemingway at Stuart, a 32-unit apartment community located at 1600 S. Kanner Highway in Stuart, about 10 miles southeast of Port St. Lucie. Brandon Rex of Marcus & Millichap’s Fort Lauderdale office represented the seller, a private investor from Fort Lauderdale, in the transaction. Adam Duncan and Joseph Thomas of Marcus & Millichap represented the buyer, a private investor from California.
RICHMOND, VA. — The Boulder Group has arranged the $1.6 million sale of a single-tenant Chipotle Mexican Grill in Richmond. The recently developed 2,215-square-foot property is located at 8955 Staples Mill Road. The restaurant is an outparcel to a Target-anchored shopping center and is located across the street from a Kroger-anchored shopping center that’s currently under construction. Chipotle has approximately nine years remaining on its lease term. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a real estate partnership based in North Carolina, in the transaction. The buyer was an investor based in Germany.
ALPHARETTA, GA. — KBS Real Estate Investment Trust (KBS REIT I), a non-traded REIT based in Newport Beach, Calif., has signed a new tenant to a 14,701-square-foot lease at its Great Oaks Center office park in Alpharetta. Ben Parker of Avison Young represented the tenant, Star & Shield Services LLC, in the lease transaction. Elliott Grand and Jeff Keppen of CBRE represented KBS REIT I. Great Oaks Center is located at 11560 Great Oaks Way.
PORTAGE, IND. — Holladay Properties has brokered the $2.4 million sale of a 23.4-acre site at AmeriPlex at the Port, a mixed-used business park in Portage, approximately 12 miles east of Gary. Merrillville, Ind.-based MonoSol LLC purchased Lot 29 at the business park. The water-soluble film manufacturer has broken ground on the property and will develop a new $95 million, 300,000-square-foot manufacturing plant. MonoSol announced last year that it would be expanding to keep up with demand for its single-dose Tide Pods and Cascade Action Pacs. MonoSol received tax abatements from the city of Portage and other economic incentives. The company plans to hire as many as 150 new employees for the new facility. The land sale leaves Holladay with 80 acres of land remaining for sale at the business park.
HUNTLEY, ILL. — Janko Group has acquired Regency Executive Center, a two-story, 35,000-square-foot medical office building in Huntley, an outer suburb northeast of Chicago. The building located on Regency Parkway is 41 percent leased to 10 tenants. Regency Executive Center is less than two miles north of the recently completed four-way interchange at I-90 and Route 47. The property was built in 2001. Ted Buenger and Dan Bessey of CBRE represented the undisclosed seller in the transaction. Janko Group will manage the property.
LIVONIA, MICH. — Gerdom Realty & Investment has arranged the lease of a 2,470-square-foot retail space for Mikey’s Burgers & Fries in Livonia. The locally owned restaurant chain will occupy space in the LA Plaza located at Plymouth Road. The restaurant has operating chains in Howell, Brighton and Hartland. Mikey’s Burgers & Fries plans to open its Livonia location later this year. Larry Siedell and Tjader Gerdom of Gerdom Realty & Investment represented the undisclosed landlord in the transaction. Eric Unatin, of Armada Real Estate represented the tenant.
NEW YORK CITY — New York City-based The Bauhouse Group has secured a $35 million construction loan, which was provided by Doral Bank, for the development of 515 West 29th Street in Manhattan. At the gateway to Hudson Yards and surrounded by the High Line, the residential and retail property will total approximately 43,000 gross square feet when complete. The Bauhouse Group acquired the property, which contained a six-story former warehouse, for $24.4 million in September 2013 and purchased three separate pieces of air rights for the building in March 2014 for $6 million to enable additional square footage. 519 West 29th Street is slated to begin sales this fall through its broker, Corcoran Group.
NEW YORK CITY — New York-based Greystone is transforming an industrial-style warehouse at 139 North 10th Street into Printhouse Lofts. Situated between Berry Street and Bedford Avenue in Brooklyn’s Williamsburg neighborhood, the 36-unit luxury apartment building will offer a mix of 28 one-bedroom, six two-bedroom and two three-bedroom units. The units feature stainless steel appliances, farmhouse sinks and natural stone countertops. The project architect is H.T.O Architect, while Funda Durukan of Durukan Design designed the interiors. Building amenities include a virtual doorman, video intercom system, laundry machines on all floors, bike storage and 2,500 square feet of shared roof deck space offering panoramic views of Brooklyn and Manhattan. The property is slated to open in the next several weeks.
NEW YORK CITY — Marcus & Millichap Capital Corp. has arranged two loans totaling $24.2 million for three properties in New York City. A 30-unit multifamily property and a three-unit mixed-use commercial property on 10th Avenue received a loan for $14.7 million, and a mid-rise 30-unit residential building on West 51st Street received $9.5 million in financing. The two seven-year loans have 3.9 percent fixed rates and 30-year amortizations with 70 percent loan-to-value. Chris Marks and Steve Rock of Marcus & Millichap arranged the financing.