SHOREWOOD, ILL. — Bob’s Discount Furniture has leased a 751,966-square-foot warehouse and distribution building in Shorewood. The company is expanding its retail furniture business into the Chicago area. The Connecticut-based furniture retailer will move into the space in April. The newly constructed facility is located at the Heartland Corporate Center, about 40 miles southwest of Chicago’s central business district near the intersection of Interstate Highways 80 and 55. JLL represented Bob’s Discount Furniture in the transaction providing site selection, tenant representation, and business and economic incentive services.
BOSTON — The Davis Companies has completed the disposition of an office building located at 24 Farnsworth St. in Boston’s Seaport District. Unitarian Universalist Association (UUA), the lead tenant, acquired the property through a previously negotiated lease-to-purchase agreement for an undisclosed price. UUA will relocate its headquarters from Boston’s Beacon Hill neighborhood to the six-story, 74,554-square-foot property. The building offers open floor plans and abundant natural lighting. An investment fund of The Davis Companies originally purchased the mortgage note on the property in May 2012, when the building was only 14.5 percent leased. Within 10 months of the mortgage note acquisition, The Davis Companies brought the property to full occupancy when UUA agreed to move its headquarters to the building. UUA is now exercising its option to purchase, which was part of its new 10-year lease for the remainder of the building.
LAKE PLACID, N.Y. — Bethesda, Md.-based Urgo Hotels & Resorts has acquired Whiteface Lodge Resort in Lake Placid for an undisclosed price. Located at Seven Whiteface Inn Lane in the Adirondacks, the resort offers 94 one- to four-bedroom suites, a private residence club, a 5,800-square-foot spa with six treatment rooms and a fully equipped fitness center. Additionally, the four-season resort features an indoor/outdoor swimming pool, ice skating rink, 54-seat movie theater, two bowling lanes, tennis courts, snowshoe/cross country trails and a private beach on Lake Placid with a canoe club providing boat rentals. The property also features a fine dining restaurant and 14 undeveloped acres, including lakefront property.
ELIZABETH, N.J., AND FORT WORTH, TEXAS — Simon has closed on its acquisition of two retail centers in New Jersey and Fort Worth, Texas, for an aggregate purchase price of $1.09 billion, including the assumption of existing mortgage debt. The two properties were acquired in connection with the closing of Washington Prime Group’s acquisition of Glimcher Realty Trust. Located in Elizabeth, Jersey Gardens, which has been renamed The Mills at Jersey Gardens, features a variety of tenants, including Bed, Bath & Beyond; Century 21; Coach Factory; Forever XX1; Lord & Taylor Outlet; Michael Kors; Neiman Marcus Last Call; Nike Factory Store; Saks Fifth Avenue Off 5th; and AMC Theatres. University Park Village in Fort Worth is tenanted by Ann Taylor, Anthropologie, Apple, Athleta, Banana Republic, Chico’s, Free People, J. Crew, Lululemon Athletica, Madewell, Michael Kors, Pottery Barn, Talbots, Vera Bradley, White House | Black Market, and Williams-Sonoma.
CARLSTADT, N.J. — CenterPoint Properties has sold its facility at 30 Commerce Road in Carlstadt for an undisclosed price. Caudalie, a French skin care company, purchased the property, which is located on 1.44 acres and features two exterior loading docks, in an off-market transaction. The facility offers close proximity to New York and major highways, including Interstate 95, the New Jersey Turnpike and New Jersey Routes 46 and 80. Andrew Houston, Larry Casey and Robin Ritter-Ceriello of DTZ represented the seller in the deal.
PHILADELPHIA — Integra Real Estate Capital has arranged a $1.83 million bridge loan for the acquisition of an office building located on Sandmeyer Lane in Philadelphia. The newly constructed property offers 48,750 square feet of flex office space. Integra was able to close the loan within 16 days to meet the constraint of the buyer’s 1031 exchange deadline. The non-recourse loan features a competitive interest rate and a flexible repayment structure. Igor Goldenberg of Integra negotiated the transaction on behalf of the New York-based ownership group.
HOUSTON — Q10 Kinghorn, Driver, Hough & Co.’s Houston office has secured a $20 million, 15-year term loan for Sam Houston Business Park in Houston. The property is located at 8844-8850 N. Sam Houston Pkwy. Larry Peters of Q10 KDH arranged the transaction on behalf of the borrower, Levey Group. Levey Group is a family-owned industrial real estate development company specializing in offering office-warehouse facilities for sale or lease. Q10 KDH is a Texas-based commercial mortgage banking company that arranges financing for developers and owners of commercial real estate.
DALLAS — Henry S. Miller Brokerage represented Ann Anderson and Stephen Leitzke of Farmers Insurance in the lease of two office locations in Frisco and north Dallas. Jim Breitenfeld of Henry S. Miller’s Dallas/Fort Worth office arranged the transactions. Ann Anderson leased a 150-square-foot office suite at 6500 Preston Road in the 6500 Business Center in Frisco. Stephen Leitzke leased a 1,319-square-foot office space at 17000 Preston Road, Building 3, Suite 330 in the East Preston Trails Office Park in Dallas. Mark Macy of MacyNewman Commercial Real Estate represented the landlord, Preston-Town Trails LP, in the 17000 Preston Road, Dallas transaction.
EULESS, TEXAS — Marcus & Millichap has arranged the sale of Oakwood Crest Apartment Homes, a 96-unit apartment property located in Euless. John Barker of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private investor. Barker and Alexander Skotarek, also of the firm’s Fort Worth office, represented the buyer, a private investor. Oakwood Crest Apartment Homes is located at 307 Martha St. The property features five, one-story buildings, one, two-story building and includes 96 units.
SAVANNAH, GA. — Johnson Development has been awarded the lease to develop a new Veteran’s Affairs (VA) medical facility in Savannah. The new 69,000-square-foot healthcare clinic will replace the existing 25-year-old VA clinic. Johnson Development will be breaking ground on the new clinic in the spring. New outpatient services that will be provided in the new facility include eye care, audiology, physical rehabilitation, prosthetics and a special women’s center. The anticipated completion date is summer 2016.