SPARTANBURG, S.C. — Rank Distributors Inc., a global sourcing service for the hospitality industry, has signed a lease with Chambers Street Properties, a net lease office and industrial REIT, for 342,096 square feet of space in Spartanburg. Rank Distributors signed the 10-year lease for space in Chamber Street’s Community Cash Complex, a five-building, 552,000-square-foot warehouse/distribution center property.
GASTONIA, N.C. — Greysteel has brokered the sale of 3090 E. Franklin Blvd., a Verizon Wireless store in Gastonia double net leased to Verizon Communications Inc. The store is an outparcel to Franklin Square, a shopping center anchored by Walmart and Best Buy. Tennant Properties of NC LLC purchased the store from GDC Gastonia LLC and JC Gastonia LLC for $3.2 million. Peter Snell, Henry Schuldinger and Rich Sillery of Greysteel represented the sellers in the transaction.
WARRENSBURG, MO. — The University of Central Missouri (UCM) is developing a new 325-bed student living center on its main campus in Warrensburg, about 60 miles southeast of Kansas City. The $60 million investment is the largest in the history of the university. UCM has partnered with master planner and architect Gould Evans to create the new center, which will open in the fall of 2015. UCM is working on securing financing for the project and will own the facilities upon completion. The center will feature 22,000 square feet of retail and two- and four-bedroom apartments, along with study and social spaces.
EVANSTON, ILL. — NorthMarq has arranged $2.5 million in financing for the redevelopment of Southpoint Plaza, a retail center in metro Chicago that will include Walgreens’ first net-zero energy retail store in the country. Engineers of Walgreens new store predict it will produce energy equal to or greater than it consumes. Walgreens plans to achieve a net-zero energy building by utilizing solar panels, wind turbines, geothermal technology, energy-efficient building materials, LED lighting and ultra-high-efficiency refrigeration. Construction of the new store began in March and is slated for completion in late November. Erik Kunz and Chris Leggee, vice president and assistant vice president of NorthMarq’s Chicago office, arranged the financing.
CANTON, OHIO — The Cooper Commercial Investment Group has arranged the $3.9 million sale of the Navarre Industrial Center, a 186,285-square-foot industrial and manufacturing facility in Canton. Dan Cooper, president and broker at Cooper Commercial Investment Group, represented the owners, a locally based private group. The buyers were a private group from the East Coast. The sale represents a 9.3 percent capitalization rate. Crown Cork & Seal, which recently signed a lease extension through 2020, anchors the fully occupied property. Other tenants at the property include Timken and Helios Coatings. The industrial facility features 12 docks, 40-foot clear ceiling heights, sprinklers and is within close proximity to I-77 and Route 30.
DELAFIELD, WIS. — Naturescape Inc., a lawn and landscape care provider, has purchased the 10,000-square-foot industrial facility it occupies in suburban Milwaukee. Deedeb LLC was the seller. Naturscape leased approximately half of the Delafield building in 2012. Due to its recent growth, the company decided to purchase the building and expand into the additional space. The industrial facility is located at 363 Austin Circle in Delafield. Maximilian Yokosh of Milwaukee-based Cassidy Turley Barry represented Naturescape in the lease transaction. The purchase price was undisclosed.
NEW YORK CITY — The Manhattan office of Berkadia Commercial Mortgage LLC has originated $37.1 million in bridge financing for three multifamily properties in Brooklyn. Stewart Campbell, senior vice president at Berkadia, arranged both loans through Berkadia’s proprietary bridge lending program. Campbell worked with borrower 97 Grand Avenue LLC to secure $25 million for the acquisition of two multifamily buildings under development located at 96 Steuben St. and 97 Grand Ave. in the Clinton Hill neighborhood. The two-year loan features a floating, 6 percent interest rate and interest-only payments. In addition to the acquisition, the proceeds from the loan will also fund the remaining construction and lease-up of both buildings. Campbell also arranged $12.1 million in interim financing for a mixed-use property located at 70-78 Willoughby St. The two-year, floating-rate loan features a 4.5 percent interest rate and interest-only payments. The borrower, Metrotech BH Holdings LLC, will use the loan to fund the redevelopment of a commercial and retail building into a mixed-use property featuring rental units and retail space.
NEW YORK CITY — Marcus & Millichap has arranged the $10.9 million sale of 123-127 Lafayette St., a partially vacant six-story office building in Lower Manhattan. The sales price equates to $663 per square foot. Barbara Dansker in Marcus & Millichap’s Manhattan office, represented the seller, an owner/user. Dansker also represented the buyer, Stellar Management, a New York-based developer. The property is located between Canal and Howard streets.
WILLIAMSTOWN, MASS. — EagleBridge Capital has arranged $1.3 million in construction and permanent mortgage financing on behalf of 384 Main Associates for Dollar General Plaza in Williamstown. Ted Sidel and Brian Sheehan, principals at EagleBridge, arranged the financing through a regional institution. Dollar General Plaza is a 10,235-square-foot shopping center located at 384 Main St. Proceeds from the loan will be used to fund the build-out of a new 8,860-square-foot Dollar General store and repay an existing mortgage. The plaza is triple-net leased to Dollar General and Subway, which occupies 1,375 square feet.
NEW YORK CITY — El Al Airlines Ltd., Israel’s national airline, has signed a new 10-year lease at 100 Wall St. in Manhattan, occupying 14,918 square feet on a portion of the fourth floor. Brian Reiver of Savanna, a New York-based real estate private equity firm, represented the landlord in the transaction. Albert Duryea of New York Realty Group Inc. represented the tenant. El Al offers nonstop flights between New York and Israel, as well as the only nonstop service from Los Angeles, according to Savanna.