ALISO VIEJO, CALIF. — Aliso Viejo Medical Center, a 27,192-square-foot medical office building in South Orange County, has sold to a private equity fund for an undisclosed sum. The Class A building is located at 24502 Pacific Park Drive in Aliso Viejo. Kaiser Permanente serves as the center’s main tenant. It signed a five-year lease renewal this past August. The buyer was represented by Guggenheim Realty Group. The seller, Accretive Realty, was represented by Garth Hoganand Todd Perman ofNewmark Grubb Knight FrankGlobal Healthcare Services. They worked in conjunction with Richard Bland of Cornish & Carey Newmark Knight Frank.
NEW ORLEANS — HRI Properties has selected Roy Anderson Corp., a subsidiary of Tutor Perini Corp., to build the 225 Baronne mixed-use development project in New Orleans. The contract for the development is valued at $61.3 million. The development involves the conversion of an existing 31-story office building into an apartment project, hotel and public parking garage. The new development will feature on-site property management services, a fitness center, roof-top swimming pools and covered bicycle parking. The project will also include the demolition of the 919 Gravier Building. Roy Anderson Corp. will break ground on the project this month and will wrap up construction in December 2014.
ORLANDO, FLA. — CBRE has arranged the sale of an apartment portfolio totaling 1,596 units in Central Florida. The properties included in the transaction are Wingwood, Sky Pines and Branchwood in Orlando; Applewood in Deland; Oak Shade in Orange City; Nova Glen, Nova Wood, Countryside and Volusia Crossing in Daytona Beach; and Kings Crossing, Stonewood and Pelican Pointe in Jacksonville. Shelton Granade, Luke Wickham and Justin Basquill of CBRE’s Orlando office, along with Brian Moulder and Dhaval Patel of CBRE’s Jacksonville office, represented the seller in the transaction. All 12 apartment communities sold to an Atlanta-based multifamily owner and operator.
BALTIMORE — NexCore Group LP, a national healthcare real estate developer, has completed a $24 million outpatient facility in Baltimore. The facility, the Angelos Medical Pavilion, is located on the campus of Saint Agnes Hospital, which recently underwent a $200 million renovation and expansion. The four-story, 85,800-square-foot Angelos Medical Pavilion is part of the campus expansion. The new facility houses physician office space, clinic space and hospital programs such as the Saint Agnes Cancer Institute and the Saint Agnes Cardiovascular Institute.
NEWPORT NEWS, VA. — Brookridge Apartments LLC has purchased the 553-unit Brookridge Apartments, located at 614 Peninsula Drive in Newport News, for $17.6 million. Alan Meetze and David Hudgins of Drucker & Falk represented the seller in the transaction. The townhouse-style community, built in 1950, is about 89 percent occupied, according to Meetze.
MIAMI — The Hogan Group has arranged a lease for Airbus Americas for 9,000 square feet of office space in Waterford at Blue Lagoon, a Class A, waterfront corporate office park located near Miami International Airport. The office is located in the nine-story 5201 Waterford building. Steve Smith of The Hogan Group represented the landlord, TIAA-CREF, in the lease deal. Catarina Jimenez of Jones Lang LaSalle represented Airbus Americas. With the transaction, Waterford at Blue Lagoon is 93 percent leased.
ARDEN HILLS, MINN. — Stahl Construction has completed work on the 107,500-square-foot Minnesota Army National Guard Field Maintenance Shop in Arden Hills, a northeast suburb of Minneapolis. Designed by BWBR Architects, the $25 million facility includes space for the equipment to maintain National Guard vehicles and provides a centralized location for guard training around the Twin Cities. Along with 36 maintenance/training bays and four warm-up and wash bays, the building also includes tool rooms, offices, classrooms and a fitness area. In addition to constructing the field maintenance shop, the scope of work included approximately 15 acres of paved concrete for the storage of roughly 1,500 military vehicles. Stahl Construction expects the project to receive LEED Gold certification from the U.S. Green Building Council.
SCHAUMBURG, ILL. — CBRE has arranged the $7.3 million sale of The Shoppes at Prime Village, a 38,313-square-foot retail center in suburban Chicago. Barnett Capital sold the property, which is located at 1410-1444 Algonquin Road in Schaumburg, to St. Louis-based Integris Ventures. Barnett Capital originally purchased the loan on the property from TCF Bank and brought the property through foreclosure. CBRE was hired to both lease and manage the building for Barnett after the loan purchase. The CBRE team of Karen Pence-Hollan and Gavin Smith oversaw the management of the center, and Lynn Brackett and Marissa Roussel handled the leasing. The group brought The Shoppes at Prime Village to 100 percent capacity at the time of sale. Aldi anchors the center, which includes 322 parking spaces.
CHICAGO — Reed Construction has completed a 12,000-square-foot buildout on behalf of the Jacobson Group at Chicago’s Inland Steel Building. Located at 30 W. Monroe, the Inland Steel Building is situated in the Central Loop. Skidmore Owings & Merrill designed the landmark building in 1955. The Jacobson Group, an executive search firm, is relocating its offices to the 19-story property from its previous location at 120 S. LaSalle. Reed Construction was selected to complete the interior renovations for the tenant’s new space on the 15th floor. Renovations feature new open office areas, private offices, conference rooms, a collaboration room and a server room. Michael Davis was the project manager for Reed Construction, and Techno Ltd. provided the architectural services. Robert Sevim of Studley represented the Jacobson Group in the lease transaction. Gary Denenberg and Sara Spicklemire of MB Real Estate represented the building’s ownership.
MORTON GROVE, ILL. — Bianco Properties has acquired Lonore Plaza Shopping Center, a 36,603-square-foot retail center in Morton Grove, about 15 miles northwest of Chicago. The property is located at 7130-7188 Dempster St. The purchase marks St. Louis-based Bianco’s second acquisition in the greater Chicago area in the last year. Bianco entered the Chicago market last year, with the purchase of a retail property anchored by CVS/pharmacy and Starbucks Coffee in the West Loop across from Union Station.