CORAL SPRINGS AND PALM BAY, FLA. — Thomas D. Wood & Co., a commercial mortgage banker based in Coral Springs, has secured approximately $14.3 million for two properties in Coral Springs and Palm Bay. Thomas D. Wood & Co. arranged approximately $10.8 million to refinance University Centre West III, a 83,936-square-foot mixed-use development at 2702-2788 University Drive in Coral Springs. The property features Class A office space set above ground-floor retail space. The leases for three of the major tenants, which together occupy 42 percent of the property, expire in the near term. Patrick Harrington of Thomas D. Wood arranged the loan through LoanCore Capital, a CMBS lender, at a fixed interest rate of 5.42 percent. Thomas D. Wood also arranged $3.5 million to refinance of Shoppes of Palm Bay, a 76,886-square-foot, Publix-anchored shopping center located at 1150 Malabar Road S.E. in Palm Bay. Thomas Wood Jr. of Thomas D. Wood arranged the 10-year loan with a 25-year amortization schedule and a fixed 4.45 percent interest rate through Woodmen of the World Life Insurance Society. Thomas D. Wood worked with Pinnacle Financial Group, a Strategic Alliance Mortgage LLC (SAM) member. Thomas D. Wood is also a SAM member.
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WINTER PARK, FLA. — Orlando-based Cuhaci & Peterson | Architects, Engineers, Planners has completed the redesign of the Publix supermarket in Winter Park Village, a shopping center located at Canton Avenue and U.S. 17-92 in Winter Park. The redesigned Publix will offer 55,000 square feet of retail space. Construction on the project is currently underway.
MOORESVILLE, N.C. — Colliers International has brokered the sale of a 51,200-square-foot industrial facility located at 225 Mooresville Blvd. in Mooresville, about 27 miles north of Charlotte. Michael Yamada of Colliers International’s Detroit office, along with Don Moss of the firm’s Charlotte office, represented the seller, Toyo Seal America Corp., in the transaction. Moss and Chuck Salley of Colliers International’s Columbia, S.C., office represented the buyer, Reger Holdings LLC. The property was formerly used as a manufacturing facility for plastic seals.
EVERGREEN PARK, ILL. — The Boulder Group has brokered the $11 million sale of a single-tenant, triple-net leased retail property in Evergreen Park, a suburb 15 miles south of Chicago. Walgreens will be the sole occupant of the 14,820-square-foot retail building located at the southeast corner of W. 95th St. and S. Pulaski Road. Walgreens is relocating to this site from its existing building at 3545 W. 95th St. Walgreens opted to move two blocks in order to maximize vehicular traffic and store visibility. The new Walgreens property is set to open in July. The property is fully leased to Walgreens and will have 20 years of primary lease term remaining upon commencement. The lease features rental escalations in the primary term and renewal option periods. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based developer, in the transaction. The buyer was a Massachusetts-based limited partnership in a 1031 tax-deferred exchange.
CARBONDALE, ILL. — A new $3.1 million fire station will open July 1 in Carbondale, a city in southern Illinois. The new Carbondale Fire Station will be a 12,400-square-foot, single-story brick building, which will replace its 50-year-old fire station. The new facility will feature four apparatus bays, seven bunk rooms, a living and kitchen space, a workout room, a training room and office space. In addition, the city of Carbondale’s Emergency Operations Center and Storm Watch Center will relocate from city hall into a new space at the new fire station. The building has been designed to be energy efficient, meet all energy codes and seismic standards. Design features will include a backup generator, capable of powering the entire building; geothermal heating and air-conditioning for the living area; and provisions for the addition of future solar equipment. FGM Architects and general contractor Fager McGee Commercial Construction are a part of the design team for the project.
ST. PAUL, MINN. — Marcus & Millichap has arranged the $666,667 sale of a 17-unit apartment property located in St. Paul. Maryland Avenue Apartments is located at 1952 & 1956 Maryland Ave. East. The property features courtyard-style private entryways to one- and two-bedroom units. The property was 94 percent occupied at the time of sale. Dan Linnell of Marcus & Millichap represented the seller, a partnership, as well as the buyer, a private investor.
ZIONSVILLE, IND. — Lee & Associates has arranged the $470,000 sale of a 4,432-square-foot medical office building in Zionsville, approximately 18 miles northwest of Indianapolis. Indiana Medical Weight Loss LLC purchased the building located at 12050 M. Michigan Road. Keith Claghorn of Sycamore Group represented the buyer. Bob Lindgren of Lee & Associates represented the seller, Forty One Corp. The freestanding medical office building is situated on slightly less than one acre.
BOSTON AND SOMERVILLE, MASS. — CBRE/New England’s Capital Markets team has brokered the sale of The Brickview Portfolio, a two-property, 74-unit multifamily portfolio. The portfolio includes 121-123 Highland Avenue, a 35-unit apartment community in Somerville, and 4-8-12 Elko Street, a 39-unit community in Boston’s Brighton neighborhood. The Second Avenue Group LLC, an affiliate of True North Capital Partners, purchased the properties for $16.85 million. The seller was Prospectus Apartments LLC, an affiliate of Prospectus LLC. The Somerville property features an apartment mix of four studios, 22 one-bedroom units and nine two-bedroom apartments with an average unit size of 646 square feet. The Brighton property was originally built in the 1920s and offers 23 one-bedroom and 16 two-bedroom units with an average unit size of 655 square feet. Simon Bulter and Biria St. John represented both parties in the transaction.
NEW BRITAIN, CONN. — Pennrose has opened The Jefferson, a $14 million affordable senior apartment complex in New Britain. The three-story building offers 70 units featuring spacious floor plans, oversized windows and wall-to-wall carpeting in the bedrooms. Additionally, eight of the units are handicapped-accessible and all units have 24-hour emergency call systems in the bedrooms and bathrooms. The age-restricted community also features a community room, fitness center, outdoor patio with picnic area and on-site laundry facilities. Pennrose Properties LLC developed the property in partnership with The Housing Authority of the City of New Britain, and Pennrose Management Company manages the community.
PHILADELPHIA — iPic Entertainment has started construction for iPic Theaters at The Boyd, a movie theater in downtown Philadelphia. Located at 1910 Chestnut St., the theater will feature eight screens and 744 seats, as well as Tanzy Express, an in-theater dining concept. The eight auditoriums will vary in size, offering seating for between 60 to 120 customers. The dine-in restaurant, Tanzy, will serve artisanal Italian cuisine with contemporary style and a full-service bar. The theater is slated for completion in 2015.