MIAMI — Marcus & Millichap has brokered the sale of ZP Apartments, an 89-unit multifamily community at 5610 N. Miami Ave. in Miami. An undisclosed buyer purchased the asset for approximately $4.4 million. Evan Kristol and Felipe Echarte of Marcus & Millichap represented the seller, a local private investor, in the transaction.
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AUGUSTA, GA. — Cassidy Turley has arranged the sale of Daniel Village, a 172,438-square-foot, grocery-anchored shopping center in Augusta, on behalf of the seller, Equity One. B&C Southeast LLC purchased the property for an undisclosed price. Bi-Lo anchors the center, and its other tenants include Rite Aid, Wells Fargo, Rent-A-Center and The UPS Store. Drew Fleming and Mark Joines of Cassidy Turley represented Equity One in the transaction.
MIAMI — CBRE’s debt and structured finance group has arranged a $6 million loan to recapitalize Capital Lofts, a 16-story loft-style condominium project at 117 N.E. 1st Ave. in Miami. CBRE arranged the two-year, floating rate loan through Doral Bank on behalf of the borrower, Coast Capital Partners. The borrower will use the loan to buy out an investment partner and complete the sell-off of the remaining 46 units in the project. The landmark condominium property is listed on the National Register of Historic Places. Christopher Apone, Charles Foschini and Christian Lee of CBRE arranged the loan.
TOPEKA, KAN. — McCarthy Building Cos. Inc. has completed construction on a new 500,000-square-foot plant for Mars Chocolate North America in Topeka. The new facility will produce Snickers chocolate bars and M&M’s chocolate candies. The $270 million project includes $195 million in construction costs. McCarthy built the project in conjunction with MC Industrial Inc. Construction of the plant, located in the Kanza Fire Commerce Park on U.S. Highway 75 began in September 2011. The plant is the first new Mars Chocolate North America site in the country during the last 35 years and is McCarthy’s first completion of a Kansas project since 1991.
CINCINNATI — Kroger Co. has purchased more than 12 acres of land at Oakley Station in Cincinnati for an undisclosed price for the construction of a 145,568-square-foot Kroger Marketplace. The store, which will be the second largest Marketplace in the Kroger chain, is set to open in the first quarter of 2015. Developed by Vandercar Holdings, the Kroger Marketplace will be the third phase of the Center of Cincinnati, which includes existing retailers such as Target, Sam’s Club and Meijer. Oakley Station is a 74-acre, mixed-use development located along the I-71 corridor in Cincinnati. Co-tenants at Oakley Station include Cinemark Theater and The Boulevard at Oakley Station, a 300-plus unit residential development. Edge Real Estate Group represented Oakley Station in the sale. Additional retail and restaurant space, and up to 400,000 square feet of class A office space will complete the development.
MINNEAPOLIS — NorthMarq Capital has arranged $34.5 million in refinancing for 7west Apartments in Minneapolis. The property, which consists of 218 units, is located at 1800 Washington Ave. S. The loan is structured on a 15-year term and 30-year amortization following two years of interest only. Dan Trebil of NorthMarq arranged financing for the borrower through a relationship with a correspondent life company.
CHICAGO — Sperry Van Ness has arranged the sale of Walton on the Park, a rental condominium tower, and a 17,180-square-foot development site adjacent to the property. Miami-based developer, Crescent Heights Inc. acquired the property located at 2 W. Delaware St. in Chicago. The sale included 160 units of the 201-unit high rise and the neighboring parcel. Jerry Goldner of Sperry Van Ness represented the buyer in the transaction.
TROY, MICH. — Colliers International has arranged the sale of a 32,375-square-foot industrial space in Troy approximately 20 miles north of Detroit. The building is located at 1783-1801 Thunderbird Drive. Peter E. Kepic, Peter J. Kepic and Ryan Brittain of Colliers represented the seller, Reliable Holding Co. Inc., in the transaction. Raffi Derbabian of Colliers represented the undisclosed buyer.
EDGEWATER, N.J. — Meridian Capital Group LLC, has arranged $33.2 million in permanent financing for the Infinity Apartments, a new 100-unit, Class A multifamily property located in Edgewater. The five-year loan, provided by a national balance sheet lender, features a LIBOR-based floating rate and interest-only payments for the full term. Waterton Associates LLC purchased the property in conjunction with Clal US, a 49 percent co-investment partner. Clal US is a wholly owned subsidiary of Clal Insurance, a publicly traded insurance company, pension fund manager and one of Israel’s largest financial institutions. Infinity Apartments is located at 340-342 Old River Road. Units in the property feature custom cabinetry, granite countertops, stainless steel appliances, full-size washer/dryer, walk-in closets and private balconies. Jacob Schmuckler, Abe Hirsch and Zev Karpel of Meridian Capital Group negotiated the transaction.
BOSTON — The Fallon Co. has broken ground on 100 Northern Avenue, a 17-story, 515,000-square-foot, build-to-suit tower that will house the Boston office of global law firm Goodwin Procter LLP. The tower will be located in Fan Pier, one of the country’s largest privately-funded development sites, featuring three million square feet of mixed-use office, residential and retail space spanning 21 acres and nine city blocks. Designed by global architectural firm HOK, 100 Northern Avenue will feature 500,000 square feet of commercial space, 380,000 of which will be occupied by Goodwin Procter, which plans to relocate to the new building by spring 2016. The building also features more than 15,000 square feet of ground-floor retail space.