BOCA RATON, FLA. — Marcus & Millichap has arranged the $19 million sale of HSBC Plaza, a 46,000-square-foot retail shopping center at 19120 S. State Road 7 in Boca Raton. The property features a freestanding CVS/pharmacy and an HSBC Bank branch outparcel. Douglas Mandel and C. Todd Everett of Marcus & Millichap’s Fort Lauderdale, Fla., office represented the seller, the property’s developer, in the transaction. Mandel and Everett also advised the buyer. The retail center was 95 percent leased at the time of sale to tenants including Dunkin’ Donuts and Med Express.
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BLUFFTON, S.C. — Rendina Cos. has completed the $16 million Bluffton Medical Campus, a 60,000-square-foot, two-story outpatient center in Bluffton, S.C. The center is located 12 miles from its parent hospital, Hilton Head Hospital. The facility consolidates many of the services Hilton Head Regional Healthcare offers in Bluffton, including an imaging center, nuclear medicine camera, ultrasound, radiography, orthopedics, a breast health center and various physician offices.
ST. PETERSBURG, FLA. — Bessolo Design Group, an architectural firm based in St. Petersburg, has been awarded design contracts for four seniors housing facilities in Florida. The projects include the 84-unit, 60,000-square-foot Watercrest of Sebastian in Sebastian; the 60-unit, 40,000-square-foot Watercrest East Lake ALF and Memory Care in Tarpon Springs; the 160-unit Bright Oaks in Fort Myers; and an unnamed 180-bed, 97,748-square-foot skilled nursing facility in Gainesville.
ALSIP, ILL. — Resource Plastics has signed a long-term lease for 170,563 square feet of industrial space at 5623 W. 115th Street in Alsip, a southern suburb of Chicago. The 399,511-square-foot industrial property was recently redeveloped by KTR Capital Partners to attract new tenants. Resource Plastics, a major plastic recycling, manufacturing and raw material distribution company, is relocating from Blue Island. Steve Connolly with NAI Hiffman’s industrial services group represented Resource Plastics in the transaction. Pete Roberson and Larry Johnson of CBRE represented KTR Capital Partners.?
AFFTON, MO. — Cushman & Wakefield | Gateway Commercial has arranged the sale of the former St. Louis Sports Center building, a 93,960-square-foot property in Affton, located about 10 miles southwest of St. Louis. Dennis DeSantis, Pat Reilly and Dan Bamberger of Cushman & Wakefield | Gateway Commercial represented the seller, Marywood Holdings LLC, in the transaction. Merritt Properties represented the buyer, Center St. Louis LLC. The property is located at 6727 Langley Ave. The purchase price was undisclosed.
INDEPENDENCE TOWNSHIP, MICH. — Bernard Financial Group has arranged a $1.1 million loan for Dixie Highway Medical Center, a 36,796-square-foot medical office building in Independence Township, located about 40 miles northwest of Detroit. The borrowing entity is 7250-7300 LLC. Kevin Kovachevich of Bernard Financial Group originated the loan. Ohio National Life Insurance Co. provided the loan.
DANBURY, CONN. — Institutional Property Advisors has arranged the $53.3 million sale of Avalon Valley, a 268-unit, garden-style apartment community in Danbury. The sale price equates to $199,000 per unit. Steve Witten and Victor Nolletti of IPA, along with Adam Mancinone and Blake Barbarisi of Marcus & Millichap advised the seller, AvalonBay Communities Inc. Ergs Konover/Outlook Holdings LLC purchased the property. The apartment community is situated on 17.5 acres and is located at 53 Sand Pit Road. Avalon Valley includes 11 detached three-story buildings, one of which is a clubhouse. Averaging 1,119 square feet, the apartments are equipped with in-kitchen breakfast bar, walk-in closets, energy-efficient windows, individual alarm systems, full-size washer/dryer units and a private patio or balcony area.?
NORTH BERGEN, N.J. — Palisades Medical Center and Duke Realty have broken ground for a 57,000-square-foot ambulatory service building on Palisades’ campus at 7600 River Road in North Bergen, about 12 miles northeast of Newark. The three-story building will provide ambulatory and specialty care services, including a dialysis center and cancer center, as well as endoscopy, cardiology, gastroenterology, orthopedics and multi-specialty physician practices. AMB Development Group was the architect for the project, and Structure Tone was the general contractor. The facility is slated for completion in fall 2014.
NEW YORK CITY — Savanna, a New York-based real estate private equity and asset management firm, has added a new tenant at 100 Wall Street, its 518,405-square-foot, Class A building in Manhattan. Lester Schwab Katz & Dwyer (LSK&D), a litigation law firm, will occupy 39,293 square feet on the 26th and 27th floors, making the space its new Manhattan headquarters. Marc Shapses, Joe Messina and Oliver Petrovic of Studley represented LSK&D in the transaction. Mitchell Konsker, Scott Cahaly and Kyle Young of Jones Lang LaSalle represented Savanna.?
FAIRVIEW, N.J. — NAI James E. Hanson has arranged a 13,100-square-foot lease at 815 Fairview Avenue, a 318,413-square-foot industrial building in Fairview, located about 25 miles north of Newark. The tenant, Paramount Services Inc., is relocating to 815 Fairview Ave. from Secaucus, N.J. Paramount, a construction company specializing in multifamily interior renovations, will use the space for storage of materials and light assembly. The space features 1,000 square feet of office space, a loading dock, 17-foot clear ceiling heights and ample parking. Thomas Vetter, Jeffrey DeMagistris and Nicholas Herrick at NAI Hanson represented the property’s landlord, Fairview Industrial Park Inc., in the transaction.