RALEIGH, N.C. — Meridian Development Group, in a joint venture with Singerman Realty Estate LLC, acquired a 235,404-square-foot industrial property at 3401 Gresham Lake Road in north Raleigh. The new ownership plans to extensively renovate the property into a Class facility known as North 540 Distribution Center. Chris Norvell and Jackson Rives of Cushman & Wakefield | Thalhimer are handling the property’s marketing and leasing responsibilities.
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ATLANTA — Bull Realty has arranged the $4.3 million sale of 1753 Peachtree St., a 1.2-acre site in Atlanta’s Buckhead submarket. UHS-Pruitt, a healthcare real estate owner and operator based in Norcross, Ga., purchased the land from Woodhaven Ventures LP. UHS-Pruitt plans to develop an upscale, six-story skilled nursing facility on the property that will house 120 beds. The corner site is located within a half mile of Piedmont Hospital and the Shepherd Center. Michael Bull and Daniel Latshaw of Atlanta-based Bull Realty represented the seller in the transaction. Rush Bradley of Lavista Associates represented the buyer. The site is located at the intersection of Peachtree Street and Huntington Road.
MIAMI — White & Case LLP has signed a long-term lease renewal for 57,954 square feet of office space at Southeast Financial Center, a 1.2 million-square-foot office tower in Miami’s CBD. The tower is the tallest and largest office building in Florida, according to Jones Lang LaSalle. Donald Cartwright and Nicole Vassilaros of Jones Lang LaSalle represented the landlord in the lease negotiations. Tere Blanca of Blanca Commercial Real Estate Inc. represented White & Case in the transaction.
WALDORF, MD. — A new Silver Diner is set to open a new location at The Shops at Waldorf in Waldorf. The new 6,500-square-foot restaurant is slated to open in spring 2014. Silver Diner operates 15 locations in the Washington, D.C., metropolitan region, with the new Waldorf location being the only Silver Diner restaurant in southern Maryland. Madison Marquette manages The Shops at Waldorf, a 495,162-square-foot neighborhood center.
LISLE, ILL. — Chicago-based GlenStar Properties LLC, along with an institutional capital partner, has purchased 2400 Cabot Drive in Lisle from CA Lisle Project Co. LLC an entity advised by CBRE Global Investors LLC. The 205,633-square-foot building, originally built in 1987 as Pansophic Systems Inc.’s headquarters, is a Class A suburban headquarters building. Ideal for large users of office space, the building features 52,000-square-foot floor plates and amenities including conference and training facilities, indoor executive parking, a fitness center and a full service cafeteria and dining area. The new ownership plans to increase and upgrade the existing on-site parking and will also provide additional building enhancements.
BERWYN, ILL. AND JOPLIN, MO — Agree Realty Corp. has acquired two assets net leased to The Goodyear Tire & Rubber Co. and Mattress Firm Inc. in Berwyn, Ill., and Joplin, Mo., for $3.7 million. Goodyear recently signed a 15-year lease and has operated the store in suburban Chicago for more than 50 years. The Mattress Firm store, located in Joplin, is a new build-to-suit store located on a corner outlot of a Target-anchored shopping center. The average lease term remaining for the two assets is more than 13 years.
KANSAS CITY, MO. — ThyssenKrupp Materials NA Inc. has signed a 52,862-square-foot lease renewal in Kansas City. The Southfield, Mich.-based provider of production materials will occupy space at an industrial building located at 6100 Stilwell Ave. Tom Haverty of Colliers International represented ThyssenKrupp Materials in the transaction. Zach Hubbard of Block Real Estate Services represented the landlord, CRP-3 6100 Stillwell LLC.
NEW YORK CITY — An investment consortium led by The Witkoff Group and majority backer Jynwel Capital and its investors has closed on the acquisition of the 47-story Helmsley Park Lane Hotel at 36 Central Park South for $660 million. Other consortium partners include New Valley LLC, Highgate Holdings and Macklowe Properties. The investment group plans to make upgrades to improve operations at the 605-key, 446,000-square-foot luxury hotel and rebrand it as the Park Lane New York. Wells Fargo and Criterion Real Estate Capital provided financing for the acquisition. Going forward, Highgate Hotels will manage the property. The Leona M. and Harry B. Helmsley Charitable Trust was the seller.
NEW YORK CITY — Meridian Capital Group LLC has arranged a $250 million mortgage for the refinancing of the Aire multifamily property located at 200 W. 67th St. in New York City on behalf of 150 Amsterdam Avenue Holdings LLC. A national conduit lender provided the 10-year CMBS loan, which features a fixed interest rate of 5 percent. The Aire, located on the Upper West Side, is a 43-story, 310-unit multifamily property featuring numerous amenities including a private courtyard, an indoor children’s playroom and outdoor play area, an event deck, fitness center, conference room, on-site parking and a private park. Aaron Appel, managing director, Jeffrey Weinberg, executive vice president, and Michael Diaz, vice president at Meridian Capital Group, arranged the financing. Kasowitz, Benson, Torres & Friedman LLP represented 150 Amsterdam Avenue Holdings LLC in the transaction.
GREENWICH, CONN. — Q10 | New York Realty Advisors has arranged a $2 million loan on a luxury cooperative apartment building in Greenwich. The 20-year, self-liquidating loan includes a fixed interest rate of 4.84 percent. The co-op corporation also received a $1 million revolving line of credit, which features a floating interest rate starting at 2.5 percent. The property overlooks the Long Island Sound and Greenwich Harbor. Scott Gerard, Esq. of Murtha Cullina LLP in Stamford, represented the co-op board. Jeanne Cronin, managing director of Q10 | New York Realty Advisors, arranged the loan.