NORTH CHARLESTON, S.C. — Cushman & Wakefield | Thalhimer has arranged a 101,500-square-foot industrial lease at 7391 Pepperdam Ave. in North Charleston. Philip Owens of Cushman & Wakefield | Thalhimer represented the tenant, Brown Distribution Centers Inc., a third-party logistics company.
FORT LAUDERDALE, FLA. — Berger Commercial Realty has brokered the sale of a 24,000-square-foot office building in downtown Fort Lauderdale for approximately $2 million. The four-story property is located at 955 S. Federal Highway. Sapphire Investment Fund LLC purchased the office asset from the AIDS Healthcare Foundation Inc. Sapphire plans to invest $2 million to renovate the office building.
TIPP CITY, OHIO — Midwest supermarket chain Meijer has announced plans to build a $100 million dairy production facility in Tipp City, located about 15 miles north of Dayton, Ohio, according to the Dayton Business Journal. The 85,000-square-foot facility will be built in three phases during the next three years, with one phase set to open each year. Meijer plans to hire more than 100 people, who will prepare milk and other dairy products for the chain’s Ohio stores. Meijer is a Grand Rapids, Mich.-based retailer that operates 204 supercenters and grocery stores throughout Michigan, Ohio, Indiana, Illinois and Kentucky.
SOUTHFIELD, MICH. — HFF has arranged the sale of a $31.6 million senior mortgage loan secured by three multifamily properties located in Southfield. Providence Green, Providence Tower and Providence Place total 1,312 units and were built between 1965 and 1968. HFF marketed the loan on behalf of a major financial institution. The lender originated the loan in 2006 to fund the acquisition of the three properties and an additional property that was later sold by the borrower. The loan is set to mature this May. As of August 2013, Providence Green (723 units), Providence Tower (242 units) and Providence Place (347 units) featured a combined occupancy of 65 percent. The properties are located near the intersection of West 9 Mile and Greenfield roads, approximately 10 miles northeast of downtown Detroit. Daniel O’Donnell, managing director, and Wickliffe Kirby, associate director, led the HFF team representing the seller.
SPRINGFIELD, ILL. — Marcus & Millichap Capital Corp. (MMCC) has arranged a 10-year, fixed-rate loan for the acquisition of two multifamily properties in Springfield, a city in central Illinois. Rick Lynn, a director in MMCC’s Oak Brook office, arranged the loan. James Walsh, senior vice president of investments in Marcus & Millichap’s Chicago office, represented the seller, the property’s developer. David Gaines and Alex Blagojevich, both vice presidents of investments at Marcus & Millichap, marketed the property. The Chicago-area buyer is a private investor representing his family investment trust.
CHICAGO — Quantum Real Estate Advisors Inc. has brokered the $7.5 million sale of a 117,000-square-foot, multi-tenant retail center located in Peoria. A Milwaukee-based investment group purchased the property. Chad Firsel, president, and Daniel Waszak, senior vice president at Quantum Real Estate Advisors, represented the seller, a New York-based global financial institution.
NEW YORK CITY — Sitt Asset Management LLC has sold 240 West 40th Street, a 159,774-square-foot office building in Manhattan, to AEW Capital Management for $63 million. The 13-story, loft-style building is fully leased to fashion label DKNY. Richard Baxter, Jon Caplan, Scott Latham, Yoron Cohen and Stephen Shapiro led Jones Lang LaSalle’s capital markets group, which represented the seller in the transaction.
BURLINGTON, N.J. — The real estate investment division of Las Vegas-based Moonbeam Capital Investments LLC has purchased the former Macy’s store in Burlington, about 20 miles northeast of Philadelphia. The purchase price was undisclosed. The 184,000-square-foot store is located at 2501 Mt. Holly Road within proximity to the Burlington Center Mall. Moonbeam, which also owns the mall, has plans to redevelop the property and adjacent land. David Bieber and Craig Levitan of Newmark Associates Inc. represented both the seller, Macy’s, and the buyer in the transaction.
NEW YORK CITY — Ariel Property Advisors has arranged the $9.3 million sale of two multifamily buildings at 453 W. 152nd and 465-467 W. 152nd Street in the Hamilton Heights section of Manhattan. Victor Sozio, Shimon Shkury, Michael Tortorici and Jesse Deutch of Ariel Property Advisors represented the seller and procured the buyer, both real estate investors. The property at 465-467 W. 152nd St. is a 100-foot-wide, five-story building totaling 36 units. The apartments include a mix of one-, two- and three-bedroom units. The 50-foot wide, five-story building at 453 W. 152nd St. includes a mix of 16 one-, two- and three-bedroom units.
NEW YORK CITY — Colliers International has arranged a 59,323-square-foot lease renewal on behalf of law firm Richards Kibbe & Orbe LLP, which will continue to occupy its headquarters space at 200 Liberty St. in Lower Manhattan. Richards Kibbe & Orbe serves the financial and business communities and has offices in New York City, Washington, D.C., and London. The firm occupies the 28th and 29th floors at 200 Liberty St. Brookfield Office Properties owns the building. David Cheikin and Christopher Zizza of Brookfield Office Properties represented the landlord in-house in the transaction.