NEWARK, CALIF. — Futuris Automotive has leased a 160,000-square-foot industrial building in Newark. The Class A building is located at 6601 Overlake Place within the Prologis Overlake Industrial Center. The new facility has frontage on Highway 84. It was previously occupied by Staples. The landlord, Prologis, was represented by Greig Lagomarsino, Mark Maguire and Kevin Hatcher of Colliers’ Oakland office.
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OAKLAND, CALIF. — Visual Supply Co. (VSCO) has leased 24,032 square feet of office space in Oakland. The building is located at 1500 Broadway. The office will serve as VSCO’s headquarters. It will also serve as a multi-purpose workspace, housing an art gallery, multiple meeting areas, an eating commons, outdoor deck and flexible workstations. VSCO was represented by Craig Hagglund and David McCarty of Lee & Associates Oakland and Chris Chavez of Orrick, Herrington & Sutcliffe LLP. The landlord, GSR 1500 Broadway Partners LLC, was represented by Michael Harrison of Equistone.
NORTH CHARLESTON, S.C. — CBRE | Triad has arranged the $14.8 million sale of Jamison Park Apartments, a 216-unit, Class B apartment community located in North Charleston, minutes from downtown Charleston. Constructed in 2001, the apartment community features a clubhouse with a gym, swimming pool and garage storage. Hal Kern and Richard Montana of CBRE | Triad represented seller, Pendergraph Management, in the transaction.
GREENSBORO, N.C. — Greystone has acquired Allerton Place Apartments, a 228-unit multifamily community located in Greensboro. Greystone purchased the asset from Summit Equities for an undisclosed price. Allerton Place was constructed in 1997 and is comprised of 14 garden-style apartment buildings, a clubhouse and a leasing center. Greystone Property Mangement Corp. will manage the apartment community.
COLUMBIA, S.C. — NAI Avant has arranged the $5.3 million sale of a 105,000-square-foot Select Comfort distribution facility, located at 630 Western Lane in Columbia. Dail Longaker of NAI Avant represented the buyer, an unnamed investor, in the transaction.
SUNRISE, FLA. — HFF has secured $16 million in financing for Lake Shore Plaza II, a 128,470-square-foot, Class A office building in Sunrise. The five-story office building is located at 1300 Concord Terrace within the Sawgrass International Corporate Park. Completed in 2008, the property is 97.5 percent leased to tenants such as New York Life, Emerson Electric, T-Mobile, GMMI and Oracle. The office building was the first multi-tenant office building in South Florida to receive LEED Silver certification. Elliott Throne, Dana Brome and Jorge Portela of HFF arranged the 10-year, fixed-rate loan through a life insurance company on behalf of the borrower, Cornerstone Real Estate Advisors, which was acting on behalf of an unnamed institutional investor.
BALTIMORE — KeyBank Real Estate Capital has arranged a $7.6 million CMBS loan for Churchill Manor Townhomes, a 90-unit townhome community located in Baltimore. Kathy Anderson and Ken Broussard of KeyBank arranged the fixed-rate loan on behalf of the borrower, Baltimore-based Quest Management Group. Quest completed a value-add renovation program utilizing a KeyBank bridge loan before obtaining permanent financing from the lender.
EUCLID, OHIO — Dougherty Mortgage LLC has arranged a $9.2 million loan for the refinance of a 738-unit affordable housing property in Euclid, a suburb of Cleveland. Euclid Apartments is located at 27181 Euclid Ave. Dougherty originated the 13-year term, 12.5-year yield maintenance loan for Euclid Leased Housing Associates I LP.
FARMINGTON HILLS, MICH. — The Boulder Group has arranged the $1.4 million sale of a new McDonald’s ground lease in Farmington Hills. The 1.4-acre parcel is located along Grand River Avenue in metro Detroit. McDonald’s is the sole occupant of the 4,500-square-foot building. The property is fully leased to McDonald’s with 20 years remaining on the lease. The lease has escalating rents in the primary term and renewal option periods. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Chicago-based investment firm. A California-based high-net-worth investor purchased the property in a 1031 tax-deferred exchange.
MELROSE PARK, ILL. — Peak Construction Corp. will complete an office build-out and warehouse modifications on a 156,235-square-foot building for DHL Global Mail. The property is located near North and 25th avenues in Melrose Park, a western suburb of Chicago. KTR Capital Partners awarded Peak the tenant improvement project. Construction is set for completion in July.