MAITLAND, FLA. — Morrison Commercial Real Estate has arranged the sale of two office buildings located in the Keewin Lexington Office Park in Maitland, about eight miles north of Orlando. The two assets sold for approximately $1.2 million. The office buildings are the 3,760-square-foot 220 Lookout Place and the 4,962-square-foot 237 Lookout Place. Michael Sieg of Prudential Results Realty represented the buyer, Tony LLC, in the 220 Lookout Place acquisition. MacMillan Straus Co. LLC purchased 237 Lookout Place for its holistic healthcare practice, The Center of Wellness. Christi Davis of Morrison Commercial Real Estate represented the seller, Maitland-based CRS Real Estate Holdings LLC, in both transactions.
JACKSONVILLE, FLA. — Capital Advisors has arranged $10.5 million in refinancing for the 288-unit Gregory Cove Apartments, a garden-style apartment community located at 5601 Edenfield Road in Jacksonville. The apartment features a swimming pool, fitness center, business center, a picnic/park area and a library. Philip Rachels of Capital Advisors’ Jacksonville office arranged the loan through Prudential Mortgage Capital Co. LLC on behalf of the borrower, Vestcor Fund XXII Ltd. The 10-year non-recourse loan features a 30-year amortization schedule.
NEW ORLEANS — The Howard Hughes Corp. has announced the tenant roster for the redevelopment of the Riverwalk Marketplace in downtown New Orleans into The Outlet Collection at Riverwalk. The property’s tenants that are new to New Orleans include Last Call Studio by Neiman Marcus, Coach Men’s Factory Store, Tommy Bahama, Toby Keith’s I Love This Bar & Grill, Hartstrings Childrenswear, U.S. Polo Assn. Outlet, It’s Sugar, Sunglass Warehouse, Red Mango and New Balance Factory Stores. Additional tenants include Coach Factory Store, Café du Monde, Kenneth Cole Co. Store, LOFT Outlet, Chico’s Outlet, Clarks/Bostonian Outlet, Gap Outlet, Guess Factory Store, Kay Jewelers, Raising Cane’s, Sunglass Hut Outlet and The Fudgery. The redevelopment will expand the property’s footprint by about 50,000 square feet to an approximate total of 250,000 square feet. Interior demolition and other construction activities are underway. The property is scheduled to reopen in late spring/early summer of 2014.
ARLINGTON HEIGHTS, ILL. — Weber Atrium Centre LLC has sold an 115,000-square-foot flex building in Arlington Heights, about 30 miles northwest of Chicago, for $2.7 million. RMS Properties purchased the property, which is located at 715-723 Algonquin Road. The building, which fronts Interstate 90, is approximately 80 percent office. Tenants at the property include the State of Illinois and AVI Systems Inc., which signed a lease for 23,000 square feet earlier this year. Ed Lowenbaum and Jason Talanian with Chicago-based Lowenbaum REP represented Weber Atrium Centre LLC in the transaction. Kelly Joyce and Jason Simon of Colliers International represented RMS Properties.
MILWAUKEE — The Dickman Co. Inc./CORFAC International has arranged the sale of a 55,000-square-foot industrial building in Milwaukee. Theodore F. Dragotta purchased the building from The Robert A. Paneitz Revocable Living Trust. The property is located at 900 N. 46th St. Anthony Huenerbein of Dickman/CORFAC was the broker involved in the transaction.
ROSELLE, ILL. — HREC Investment Advisors has arranged the sale of the 101-guestroom Country Inn & Suites in Roselle, located about 30 miles west of Chicago. Scott Stephens, COO and senior principal, and Scott Kaniewski, senior vice president at HREC Investment Advisors, represented the seller, a private equity firm, in the transaction. The Country Inn & Suites is located two miles from the Schaumburg Regional Airport and roughly 13 miles from O’Hare International Airport. The hotel also includes 22,000 square feet of meeting space.
PAPILLION, NEB. — The Lerner Co. and RED Development have begun construction on a new Sam’s Club in Papillion, a southern suburb of Omaha. Sam’s Club will open at Settler’s Creek Shopping Center, located at 72nd Street and Cornhusker Road. The new location, scheduled to open in the fall of 2014, will feature a pharmacy, optical department, fuel station and photo center to serve members in the community. Sam’s Club will join Walgreens and Hobby Lobby, which have previously opened at Settler’s Creek. When completed, the Settler’s Creek Shopping Center development will total 250,000 square feet.
NEW YORK CITY — GFI Realty Services Inc. has arranged the sale of seven contiguous buildings in the Kips Bay section of Manhattan for $71.5 million. Silverstone Property Group purchased the properties, which include 146 apartment units and eight stores. The properties are located at 489, 493 and 495 Third Ave. and 203, 205, 207 and 211 E. 33rd St. Approximately 60 percent of the units are free-market apartments. Yosef Katz, a director at GFI Realty Services, represented the buyer, while Barak Jacobov, also of GFI, represented the sellers, local investors.
LANGHORNE AND TREVOSE, PA. — NorthMarq’s Boston regional office, has arranged a $30 million loan for the refinancing of a portfolio of 11 office and industrial properties in eastern Pennsylvania. High Street Equity owns the properties, which span 607,889 square feet and are located in Langhorne and Trevose. Financing was based on a five-year term and a 25-year amortization schedule with a flexible prepayment schedule. James Murphy of NorthMarq arranged the financing through a life insurance company lender.
WILMINGTON, DEL. — Patterson-Woods Commercial Properties/CORFAC International has arranged the $1.7 million sale of a 12-story office building in downtown Wilmington. The sale was originated through Auction.com. Delaware Offices, a Wilmington-based property investment and management firm, sold the property. The buyer was 913 Market LLC, an entity of Sky Management Services LLC. Built in 1983, 72,000-square-foot office building was 60 percent occupied at the time of sale. Duncan Patterson, president, and Rich Dudek of Patterson-Woods Commercial Properties/CORFAC International arranged the sale.