BENSENVILLE, ILL. — Paine/Wetzel TCN Worldwide has arranged a 7,000-square-foot industrial lease in Bensenville. Ary Trucking LLC will occupy space within a 14,000-square-foot building located at 401 Frontier Way. The new lease represents an expansion and new location for the Northbrook-based general freight tucking company. Joe Karmin of Transwestern represented the building’s owner. Phil Reiff and Phil Reiff Jr. represented Ary Trucking LLC.
SPRINGFIELD, N.J. — CBRE FAMECO, a retail division of CBRE Group, has brokered the $5.5 million sale of the former 6th Avenue Electronics store, corporate office and warehouse facility at 22 Route 22 in Springfield. The undisclosed buyer plans to convert the 70,040-square-foot property into an 85,000-square-foot Metro Self Storage facility. The climate-controlled property will feature state-of-the-art security, two sets of elevators, four drive-in loading bays and an office component. Steven Winters of CBRE FAMECO represented the undisclosed seller, while Ed Horne of HK Commercial Realty Advisors LLC represented the buyer.
NEW YORK CITY — Trevian Capital has funded a $22 million first-mortgage bridge loan for a five-story, 17,247-square-foot building in the Tribeca neighborhood of Manhattan. The loan was used to pay off a matured first mortgage and to fund the conversion of the upper floors into four full-floor residential condos and reconfigure the ground-level retail cellar and sub-cellar. Terms and details of the transaction were not disclosed.
NEW YORK CITY — Meridian Capital Group has arranged $15.5 million in refinancing for a multifamily property in New York City. The seven-year loan, which was provided by a local savings bank, features a 3.37 percent fixed-rate and interest-only payments for the full term. Located at 1380 Riverside Dr., the 19-story property features 138 residential units and views of the Hudson River and George Washington Bridge. Isaac Filler of Meridian Capital’s New York City office negotiated the transaction. The name of the borrower was not released.
PORTLAND, MAINE — Marblehead, Maine-based JHR Development has completed the sale of an industrial building located at 56 Milliken St. in Portland. Plymouth Industrial REIT Inc. purchased the 200,625-square-foot facility, which is situated on 30 acres, for $10.5 million. Milliken Portland Partners LLC, a subsidiary of JHR, originally purchased the facility in December 2011 for $6.5 million. The firm significantly improved the property to accommodate the needs of the tenants, AdvancePierre Foods and Paradigm Windows. CBRE|The Boulos Company’s Portland office brokered the transaction.
SALISBURY, MASS. — Marcus & Millichap has brokered the sale of a retail property located at Two Lafayette Road in Salisbury. SPC Acquisition Company LLC purchased the 13,225-square-foot building for $7.4 million from Salisbury Ventures LLC. The property is occupied by CVS, under a 25-year lease with four five-year extension options. Bob Horvath and Todd Tremblay of Marcus & Millichap represented the seller, while Laurie Ann Drinkwater and Seth Richard, also of Marcus & Millichap, represented the buyer in the transaction.
LAKEWAY, TEXAS — Muskin Commercial has arranged the sale of 538 units at the All-Ways Storage facility located at 15402 Kollmeyer Drive and 911 N. Ranch Road 620 in Lakeway. The site includes 131 climate-controlled and 386 non-climate-controlled units, along with 21 uncovered outside storage parking spaces. The property sits on three tracts of land with frontage along RR 620.A Maryland-based self-storage company purchased the property. Ellen Muskin and Daniel Elam of Muskin Commercial represented the seller, All-Ways Self Storage LP of Austin, who was the original builder and developer of the property.
LUBBOCK, TEXAS — Marcus & Millichap has arranged the sale of AAA-Tech Self Storage, a self-storage facility with 56,806 rentable square feet located in Lubbock. Roger Hendricks of Marcus & Millichap’s Dallas office represented the buyer, a private investor. An outside broker represented the seller. AAA-Tech Self Storage is located at 222 N. Ave. U, at the southeast corner of Baylor Street. Built in 1968 and renovated in 2002, the facility is situated on nearly five acres and includes 499 units. The property includes a sales office, manager’s apartment, indoor and outdoor units and roll-up doors.
BEE CAVE, TEXAS — Rocco’s Grill is relocating to 12432 Bee Cave Road from its original Lakeway Commons Shopping Center location. The new location spans 6,334 square feet and features two outdoor dining and entertainment areas, including a covered patio and an outdoor deck. The property is adjacent to the Hill Country Galleria, will have larger seating capacity, more parking and is estimated to open in late April. Rocco’s Grill, founded by Rocco C. “Rockey” Piazza 13 years ago in Lakeway, serves Italian recipes including pasta, seafood and steaks. Bryan McMurrey of CBRE represented the landlord, Hill Country Galleria LLC, in the transaction. Currin Van Eman of VC Interests LLC represented Rocco’s Grill.
RESTON, VA. — Multifamily developer Renaissance Centro has delivered Harrison at Reston Town Center, a 360-unit luxury apartment community located at 1800 Jonathan Way in Reston, 22 miles west of Washington, D.C. According to Renaissance Centro, the community is 20 percent pre-leased. Located across the street from Reston Town Center, the multifamily property features more than 28,000 square feet of amenity space, including an indoor lap pool, on-site Starbucks Coffee, 24-hour fitness center, resident lounge, outdoor pool and sundeck, media room, business center, conference rooms, culinary center, dog park and pet spa. The property also has an underground parking garage and a bus stop for Metro’s Silver Line. All residents will have membership to the Reston Association, which operates 15 swimming pools, 52 tennis courts, 1,350 acres of open space and 55 miles of paved pathways and trails. Community Realty Co. is providing property management services for Harrison at Reston Town Center. According to the property’s website (liveharrisonapts.com), rental rates range from $1,855 to $6,605.