COLUMBIA, S.C. — NAI Avant has arranged the lease of a Class A distribution center currently under construction in Columbia. Trane USA, a division of Ingersoll Rand, will occupy the facility in late January 2014. The 38,500-square-foot distribution center is located at 1510 Key Road. Dick Stanland and Nick Stomski of NAI Avant arranged the lease for the speculative distribution center.
ROCHESTER, MINN. — Grandbridge Real Estate Capital has closed a $27.8 million construction loan secured by The Waters on Mayowood, a senior living development in Rochester, a city in southeast Minnesota. Located near the Mayo Clinic and adjacent to the Apache Mall, the 175-unit community is slated to open in late 2014. A local developer is constructing the 276,000-square-foot facility, which will include a four-story assisted living wing with 70 units and six enhanced-care suites, a four-story, 71-unit independent living wing and a two-story, 28-unit memory care wing. The Waters Senior Living, an owner and operator of senior living communities in the Twin Cities, will manage the community. Tony Carlson of Grandbridge originated the loan.
EAGAN, MINN. — Opus Design Build LLC has completed construction on a 41,872-square-foot warehouse expansion for Chicago Tube & Iron in Eagan. As well as the expansion, Opus also completed interior renovations, refinish the front entrance of the building and add a new canopy to reflect the exterior design of other Chicago Tube & Iron facilities. The property is located at 2940 Eagandale Blvd., about 15 miles south of Minneapolis. Opus AE Group LLC was responsible for the structural and architectural design of the property. MFRA, Inc. performed civil engineering and landscaping and Hallberg Engineering provided mechanical and electrical design services.
FRANKLIN PARK, ILL. — Marcus & Millichap has arranged the $7.9 million sale of an Enterprise Rent-A-Car facility located at 3800 N. Mannheim Road next to O'Hare International Airport in Franklin Park. The property consists of three buildings situated on 5.8 acres. Enterprise Rent-A-Car occupies the property, which it uses for auto repairs, servicing and car storage for surrounding Enterprise retail locations. Also, the property serves as an administrative and training center for Enterprise. Gramercy Property Trust, based out of New York, purchased the property. Stephen Lieberman, an investment specialist at Marcus & Millichap, marketed the property on behalf of the seller.
INDIANAPOLIS — StreetLinks Lender Solutions has announced it will relocate its national headquarters to the ground-floor commercial space at the Artistry, a $30 million mixed-used development in downtown Indianapolis. StreetLinks, which sells real estate appraisal management services, is moving from 7551 Shelby St. in Indianapolis. Developer Milhaus Ventures has begun construction on the Artistry, and StreetLinks is expected to move in spring 2014. Approximately 200 employees will occupy 25,000 square feet at the building, located at 451 E. Market St. The first floor of the Artistry includes commercial space, resident amenities and parking. The second through fifth floors feature 258 apartment units.
CAMBRIDGE, MASS. — Skanska USA has sold 150 Second Street, a 123,000-square-foot office and lab building in Cambridge, to Alexandria Real Estate Equities Inc. for $94.5 million. The three-story, Class A building is located in Kendall Square and features large windows and open floor plans. The building was 85 percent leased at the time of sale. Foundation Medicine Inc., a molecular information company that helps doctors identify targeted cancer treatments for patients, currently occupies 61,591 square feet. Bluebird Bio, a biotechnology company focused on helping patients with severe genetic and orphan diseases using gene therapy, will occupy 43,586 square feet beginning in January 2014.
KEASBEY, N.J. — Mainetti, a manufacturer and distributor of garment hangers, has relocated its U.S. headquarters to 110,000 square feet at 300 Mac Lane in Keasbey, about 16 miles south of Newark. The company is relocating from a smaller facility in Secaucus. Andrew Stypa and Daniel Badenhausen of Cushman & Wakefield brokered the transaction. Federal Business Centers owns the warehouse and distribution building.
NORWALK, CONN. — Washington Trust’s commercial real estate group has provided $14.5 million in financing to DIV 40 Richards LLC for a 147,000-square-foot office building in Norwalk. The borrower plans to use the funds to upgrade the building and add amenities such as an expanded café, upgraded common areas, a new fitness center and shuttle service to the commuter station. The Davis Cos., a full-service commercial real estate firm based in Boston, is sponsoring the project.
NEW YORK CITY — Marcus & Millichap has arranged the $5.5 million sale of 853 Saint Nicholas Ave., a 25-unit apartment property in New York City. Peter Von Der Ahe, Scott Edelstein, Joseph Koicim, Seth Glasser, David Lloyd and Jonathan Schwartz, investment specialists in Marcus & Millichap’s Manhattan office, represented the buyer, a limited liability company, and the seller, a private investor. The apartment property is located in the Harlem section of Manhattan between 152nd and 153rd streets. The selling price equates to $219,000 per unit.
DALLAS — Quadrant Investment Properties LLC has acquired Preston Trail Atrium, a 122,000-square-foot office building in North Dallas. The new ownership plans an extensive lobby renovation and the addition of several amenities for the facility, which is located at 17330 Preston Road, in close proximity to the interchange of the Bush Turnpike and Dallas North Tollway. Jeremy Duggins and Addie Ludwig of Cawley Partners will continue to lease the property. Dallas-based Quadrant has now purchased three Dallas-area assets in the past 12 months.