GREEN BAY, WIS. AND ROCHESTER, MINN. — Monmouth Real Estate Investment Corp. has acquired two industrial buildings in Green Bay, Wis., and Rochester, Minn., in separate transactions for a combined total of $11.9 million. The 99,102-square-foot industrial building at 3383 Spirit Way in Green Bay was purchased for $6.6 million. The 60,398-square-foot industrial building located at Schumann Drive in Rochester was acquired for $5.3 million. Both properties are net-leased for 10 years to FedEx Ground Package System Inc.
BROOKLYN CENTER, MINN. — Marcus & Millichap has arranged the $1.7 million sale of Beard Avenue Apartments, a 36-unit apartment property in Brooklyn Center, a northern suburb of Minneapolis. Dan Linnell, Josh Talberg and Evan Miller, investment specialists in Marcus & Millichap’s Minneapolis office, marketed the property on behalf of the seller, a partnership. An outside brokerage company represented the buyer, a limited liability company.
CHICAGO — Whole Foods Market has plans to open a new store in the Englewood neighborhood on Chicago’s South Side. DL3, led by Leon Walker, will develop the 18,000-square-foot store. Slated to open in 2016, the grocery store is part of a 13-acre development located at a four-way intersection near Kennedy King Community College. The new store will bring an estimated 100 jobs to the area. Whole Foods provides healthy and organic food to its customers.
CHICAGO — Sperry Van Ness Chicago Commercial has completed the sale of a mixed-use property in Chicago's Lincoln Square neighborhood. The corner property is located at 4660 N. Rockwell Ave. and includes four retail/office units and two apartment units. Jeffrey Baasch, senior vice president of multifamily sales, and Brian Kochendorfer, senior advisor at Sperry Van Ness LLC, represented the buyer and seller in the transaction. The property sold for $875,000.
PITTSBURGH, PA. — UC Funding has provided $6.5 million in financing for the acquisition of a 60,473-square-foot, six-story mixed-use building in downtown Pittsburgh. The borrower plans to renovate floors two through six, which are currently vacant, and convert them to 40 Class A apartments. Each unit will include stainless steel appliances, granite or quartz countertops, solid maple cabinets, side-by-side washer and dryer, marble bathroom vanities and tiled flooring. Built in 1900, the building includes 7,290 square feet of ground-floor retail that is fully occupied by a restaurant. Construction is slated to begin shortly after closing and will take 12 months to complete.
ISLANDIA AND HAUPPAUGE, N.Y. — A partnership has acquired The Crossroads Corporate Center, a 400,000-square-foot, 13-building office complex in Islandia and Hauppauge. Matrix Investment Group and The Crest Group purchased the building, which has been renamed the Matrix Corporate Park. The Class A office property is situated on the north and south side of the Long Island Expressway at exit 57. Current tenants include National Life Group, Stifel Nicolaus, Paychex, EmpireNational Bank, Rubin & Rothman and TransFirst. Available space at Matrix Corporate Park ranges from 750-square-foot executive suites to 8,000-square-foot areas.
TOWNSEND, DEL. — Marcus & Millichap Capital Corp. has arranged $2.8 million in refinancing for a single-tenant retail store in Townsend, located about five miles south of Middletown. The 10-year loan carries a 4.44 percent interest rate and includes a 25-year amortization schedule. Walgreens occupies the property.
DALLAS — Financial services firm Civitas Capital Group has secured $53.5 million in construction financing for The Alexan Skyline, an apartment complex planned for Goat Hill, located northwest of downtown Dallas. Trammell Crow Residential, in collaboration with Behringer Harvard Multifamily REIT I Inc., is developing the 10-story property. The Alexan Skyline will offer 365 units ranging from 436 to 1,865 square feet, plus amenities such as two swimming pools, abundant outdoor patio space and ground-floor retail. This is the eighth investment for Civitas, which focuses on alternative investments, EB-5 funds and wealth management.
FORT WORTH, TEXAS — Realty Capital Management LLC (RCM) has brokered the sale of Eagle Mountain Plaza, a 17,000-square-foot retail property in Fort Worth. Located at 8455 Boat Club Road, the strip was 100 percent leased at the time of sale by tenants including Double Eagle Liquors, Gaskey’s Sports Grill, Papa John’s Pizza and Martini Tan. Mark Boone, director of commercial sales and leasing for RCM, represented the seller in the transaction.
HOUSTON — Cushman & Wakefield has arranged leases for Cameron International Corp. and Produced Water Absorbents Inc. (PWA) at Northwest Place Industrial Park, located in Houston’s Northwest submarket. Cameron will occupy the 22,942-square-foot flex building located at 6511 West Little York Road, and PWA will occupy the 18,000-square-foot flex building at 6795 Bingle Road. The complex, a project of full-service real estate company Levey Group, comprises five buildings: the two just leased, one previously leased and two that are still being constructed.