CHARLOTTE, N.C. — MIG Real Estate, a Newport Beach, Calif.-based real estate investment firm, has acquired the Homewood Suites Charlotte Airport, a 102-room hotel located southeast of the Charlotte Douglas International Airport. The hotel is located at 2770 Yorkmont Road and features 1,541 square feet of meeting space, an outdoor swimming pool, fitness center, putting green, business center and guest laundry facilities. The hotel is MIG Real Estate’s first acquisition in North Carolina and its 12th overall hotel. Jeff Berkman of Hodges Ward Elliott represented the seller in the transaction. Raleigh, N.C.-based Concord Hospitality Enterprises will operate the hotel.
NAPERVILLE, ILL. — Beacon Investment Properties LLC has entered the Chicago market with the $24 million acquisition of Park Plaza, a 210,774-square-foot office building in Naperville. A Boston-based institutional real estate advisor sold the Class B+ office building. Park Plaza, located at 215 Shuman St., is a four-story building with 52,450-square-foot floor plates divided into 25,225-square-foot wings. Travelers Insurance Co. anchors the property, while Transguard Insurance Co. and Medical Staffing Network are among the larger tenants. Dan Deuter, senior vice president and Paul Lundstedt, executive vice president at CBRE, represented the seller. Susan Hill, senior managing partner at HFF’s Houston office, arranged an $18 million, 10-year mortgage loan through Cantor Commercial Real Estate of Houston.
NORTH AURORA, ILL. — USAA Real Estate Co. and The Opus Group have started construction on I-88 Gateway Logistics Center, a 604,565-square-foot speculative industrial building in suburban Chicago. USAA Real Estate Co. acquired the 32-acre site in North Aurora in September and contracted The Opus Group to develop, design and construct the industrial building, which USAA Real Estate Co. will own. The speculative building will be located at 1200 Orchard Gateway Blvd. The building will feature 32-foot clear ceiling heights, 60 docks, 103 trailer parking spaces, office space and future expansion capabilities to 1 million square feet. The project is slated for completion in June 2014. Opus Design Build LLC will construct the building, and Opus AE Group LLC will serve as project architect.
GRAND RAPIDS, MICH. — Commercial Property Advisors has arranged the $6.5 million sale of Lake Forest Apartments, a 199-unit multifamily community in Grand Rapids. The property is located six miles northeast of downtown. Scott Sutphin and Cary Belovicz of Commercial Property Advisors arranged the transaction between the seller, Lake Forest Apartments LLC, and the buyer, SRG LF LLC.
BEXLEY, OHIO — Marcus & Millichap has arranged the $1.9 million sale of Bexley Square, a 21,380-square-foot retail property in Bexley, an eastern suburb of Columbus. Erin Patton, Scott Wiles and Craig Fuller, investment specialists in Marcus & Millichap’s Columbus and Cleveland offices, marketed the property on behalf of the seller. NAI Ohio Equities represented the buyer, a local entity, in the transaction. Bexley Square is located at 2210-2240 E. Main St.
WESTBURY, N.Y. — HFF has arranged an $85 million loan for Roosevelt Raceway Center, a 428,395-square-foot retail power center in Westbury, located about 27 miles east of New York City. Working on behalf of the borrower, a joint venture between Mattone Group LLC and Gartenstein Properties, HFF placed the fixed-rate loan with New York Community Bank. Completed in 1995, the property is leased to tenants including Fairway Market, The Home Depot, Michaels, Babies “R” Us, Sprint, AMC Theatres, Applebee’s and Chili’s. Robert Delitsky, managing director, led the HFF team representing the borrower.
PHILADELPHIA — Meridian Capital Group LLC has arranged a $17.9 million loan for the refinancing of Walnut Place, a luxury multifamily property in Philadelphia, on behalf of PMC Property Group. A local balance sheet lender provided the 10-year loan, which features a fixed interest rate of 3.75 percent. The 77-unit, eight-story Walnut Place features 3,000 square feet of ground-level retail space and is located at 312-320 Walnut St. The property is a remodeled, historic apartment building featuring loft-style apartments with high ceilings, natural light and views of downtown Philadelphia. Amenities at the community include a fitness center, on-site laundry facility and parking. David Fisher, senior vice president at Meridian Capital Group, arranged the loan.
DEPTFORD, N.J. — Marcus & Millichap has arranged the $6.2 million sale of Staples Shopping Center, a 26,115-square-foot shopping center in Deptford, a city in southwest New Jersey. The sales price equates to $235.88 per square foot. Constructed in the mid-1980s, the transaction marks the first time the shopping center has traded hands. The property is located at the corner of Deptford Center and Hurffville roads. Staples anchors the shopping center, which includes tenants such as Visionworks, Peddler’s Bike Shop, and Dunkin’ Donuts. Brad Nathanson, first vice president of investments in Marcus & Millichap’s Philadelphia office, represented the seller and the buyer in the transaction.
MONTPELIER, VT. — The Vermont League of Cities and Towns has signed a 14,000-square-foot office lease at City Center in Montpelier, the capital of Vermont. CityCenter is located at 89 Main St. in downtown. Tenants at the building include the Secretary of State, The New England Culinary Institute, Skinny Pancake, Artisan’s Hand, Edward Jones, AT&T, Vermont Bankers Association and Onion River Community Access. The property also features an on-site parking garage. Doug Nedde is the owner of the City Center Montpelier building and broker/owner of Nedde Real Estate.
DALLAS — KBS Realty Advisors has acquired Highland Park Place, a 17-story, 164,011-square-foot office tower in the Preston Center submarket of Dallas for $31.4 million. The Class A building, located at 4514 Cole Ave., was 84 percent occupied at the time of the sale. Gary Carr, John Alvarado and Eric Mackey of CBRE represented the seller, Heitman. Newport Beach, Calif.-based KBS and its affiliated companies now own 13 office properties in the Dallas/Fort Worth Metroplex totaling more than 4.4 million square feet. Earlier this year, two office properties totaling nearly 750,000 square feet in the Preston Center submarket — Preston Commons and Sterling Plaza — were purchased by KBS REIT III.