BOWIE, MD. — Phillips Edison-ARC Shopping Center REIT Inc. has purchased Collington Plaza, a 122,000-square-foot, grocery-anchored shopping center located in Bowie. Giant Foods anchors the shopping center, whose other tenants include Advance Auto Parts, NASA Federal Credit Union, America’s Best Eyewear, 7-Eleven, GNC, Hair Cuttery and Sally Beauty. Michael Gorsage of HR Retail brokered the sale between Phillips Edison-ARC and the seller, Next Collington Plaza LLC, an affiliate of Next Realty.
MIAMI — Cohen Financial, a commercial real estate capital services firm, has originated a $27.7 million construction loan for the BrickellHouse Condominiums, a 374-unit high-rise property in Miami. The asset, located at 1390 Brickell Ave. in Miami’s Brickell submarket, will span 46 stories. Daniel Sheehan and Eric McGlynn of Cohen Financial’s Miami office originated the construction loan with an institutional real estate debt fund.
ATLANTA — Cohen & Associates, a Los Angeles-based real estate investment firm, has borrowed $10 million to refinance the Renaissance Walk Apartments in downtown Atlanta. The 140-unit property is located at 171 Auburn Ave. N.E. in Atlanta’s historic Auburn Avenue district. The five-story property, which spans an entire city block, features 30,500 square feet of street-level retail. Shlomi Ronen of Dekel Capital and David Wallenstein of Churchill Capital arranged the loan through Prudential Mortgage on behalf of the borrower.
INDIANAPOLIS — Residents have begun to move into the Artistry, a $30 million mixed-use development undertaken by Milhaus Ventures in downtown Indianapolis. Located at 451 E. Market St., the first phase of the five-story property includes 258 residential units and 68,000 square feet of office space. Artistry features studio, one-, two- and three-bedroom apartments and amenities such as an art gallery and a rooftop pool with views of downtown. The property also includes two courtyards featuring an outdoor kitchen, vegetable garden, bocce ball court, putting green and sitting areas. Milhaus also plans to build a movie theater, café, wellness studio and aqua lounge. Construction on Phase I is slated for a spring 2014 completion, followed by construction of Phase II, which includes 242 units.
PLYMOUTH, MINN. — Marcus & Millichap has arranged the $2.2 million sale of the Days Inn Plymouth West/Minneapolis, a 113-room hospitality property located in Plymouth, a western suburb of Minneapolis. Jon Ruzicka, a hospitality investment specialist, and Gordon Allred, vice president of investments at Marcus & Millichap, represented the seller, a private fund, and the buyer, a limited liability company. The four-story property is located near the intersection of Interstate 494 and Highway 55 at 2955 Empire Lane. The buyer plans to renovate the property.
LOCKPORT, ILL. — PressSense Pressure Sensitive Papers Inc. has leased 52,005 square feet of warehouse space at Heritage Crossing Corporate Center in Lockport, located about 38 miles southwest of Chicago. The industrial warehouse property at 14503 Gougar Road spans 121,800 square feet. Polly Ozack, president of Winner’s Edge Inc., represented PressSense in the transaction. Dan Leahy, Mark Moran, and John Whitehead of NAI Hiffman represented the landlord, ML Realty Partners LLC. PressSense Pressure Sensitive Papers is a distributor of specialty label paper and print media.
CHICAGO — J.C. Anderson Inc. has completed a 20,000-square-foot office build-out for Rightpoint, a technology consulting firm, at 29 N. Wacker Drive in Chicago. The firm relocated its headquarters from 626 W. Jackson in Chicago to the Windy City’s Central Business District. The move doubled the space for the growing firm, which was founded in 2007. The new office space includes conference rooms, private offices, a pantry area and an open floor plan. Construction also featured millwork finishes, high-end barn doors and exposed ceilings. Joe Maguire was the project executive for J.C. Anderson Inc. Matt Kantro, project manager, and Darrel Panfil, superintendent, also of the firm, led the construction team. Holabird & Root provided the architectural services.
NEW YORK CITY — Colliers International has arranged a 30-year, 218,000-square-foot lease on behalf of United Cerebral Palsy (UCP) for the entire building at 80 W. End Ave. in New York City. The nonprofit, which provides services, technology, and advocacy to children and adults with cerebral palsy and other disabilities, recently sold its existing building at 122 E. 23rd St. in Gramercy Park. The organization is scheduled to move into its new facility at the corner of West 63rd Street in the fourth quarter of 2014. UCP will occupy the first, fourth, sixth and seventh floors at the property, which will include a rooftop playground. The organization plans to sublease the additional space in the building to other nonprofits. Jointly owned by the Kushner Cos. and Extell Corp., the 1920s-era building will be renovated to include wide corridors for the large number of people in wheelchairs. UCP has retained HOK as project architect. Michael Berger and Robert Getreu of Colliers International arranged the lease on behalf of UCP. Jared Kushner and Ira Bloom of Kushner Cos. represented the building’s owners, Kushner Cos. and Extell Corp., in the transaction.
NEW YORK CITY — Ariel Property Advisors has arranged the $4.2 million sale of a three-building, mixed-use portfolio at 2245, 2259 and 2285 Adam Clayton Powell Jr. Blvd. in the Central Harlem community 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 investment groups. The five-story buildings total 32,025 square feet and include 25 residential units and four retail units. The unit mix includes five one-bedroom, 12 two-bedroom and eight three-bedroom units.
NORWOOD, MASS. — CMI Property Inc. has leased 79,000 square feet of space to three retail tenants at its newly acquired shopping plaza at 560-570 Boston Providence Highway in Norwood, a southwest suburb of Boston. Bellevue, Wash.-based thrift retailer Savers Inc. leased 43,000 square feet of space. Peter Considine of the Dartmouth Co. represented Savers in the transaction. William Zoppo of Elliot & Co. represented the landlord. Launch Trampoline Park, a recreation center where children and adults can jump on trampolines, leased 23,000 square feet of retail space. Elliot Ravech of Elliot & Co. represented CMI Property in the transaction. The park is scheduled to open later this month. Big Bob’s Flooring, a flooring outlet franchise, leased 13,000 square feet. Ravech represented the landlord in the transaction. The former Syms Plaza is now fully leased. The two retail buildings at the property span 80,208 square feet and are located on an 8.5-acre site.