SHAKOPEE, MINN. — Opus Development Co. LLC has acquired 50 acres of land in Shakopee to develop a 200,000-square-foot industrial warehouse and distribution facility. Construction on the speculative industrial facility will begin this fall, with completion slated for spring 2014. The property will be called Valley Park Business Center. Opus Development Co. will develop the project, Opus Design Build LLC will serve as the design-builder and Opus AE Group LLC as the architect and engineer.
HUDSON, WIS. — Marcus & Millichap has arranged the sale of an eight-unit apartment property in Hudson, about 27 miles east of Minneapolis. The multifamily property, located at 722 3rd St., sold for $490,000. Josh Talberg, Dan Linnell amd Evan Miller, investment specialists in Marcus & Millichap’s Minneapolis office, along with, Michael Wirth and Matthew Whiteside, investment specialists in Marcus & Millichap’s Milwaukee office, marketed the property on behalf of the seller, a private investor. Talberg, Linnell and Miller also represented the buyer, a limited liability company.
NEW YORK CITY — Marcus & Millichap has arranged the $6.8 million sale of 188 & 190 Wadsworth Avenue, a 44-unit apartment property in New York City. Scott Edelstein, Seth Glasser and Peter Von Der Ahe of Marcus & Millichap’s Manhattan office, marketed the property on behalf of the seller, a private investor, and represented the buyer, also a private investor. The seller, a local family, owned the building, which is located at 188 Wadsworth Ave., for more than 50 years.
BELLEVILLE, N.J. — Weichert Commercial Brokerage Inc. has arranged the sale of a 60,000-square-foot industrial building in Belleville, about five miles north of Newark. Scott Maynard, senior vice president at Weichert, represented the seller, a bank, and the buyer, Charles DeFranza, in the transaction. The industrial property is located at 335-353 Cortlandt St.
JERSEY CITY, N.J. — Rabobank has subleased 36,000 square feet at 10 Exchange Place, located on Jersey City’s Hudson River waterfront, to CarePoint Health. The healthcare provider will occupy the entire 15th floor of the building, which it will use for administrative purposes. Dan Johnsen, Robert Rudin, Michael Burgio, Daniel Organ, Robert Gastel and Franklin Speyer of Cushman & Wakefield represented Rabobank. Jaime Weiss and Matthew Weiss of Moonachie, N.J.-based Weiss Realty represented CarePoint Health in the transaction.
WASHINGTON TOWNSHIP, N.J. — Azarian Realty Co. has arranged five leases totaling 7,671 square feet at Washington Town Center. Dunkin’ Donuts, Original Pizza, Eye Level Learning Centers, BK Tae Kwon Do and Body Empathy Spa are the new tenants. The shopping center is located at 273 Pascack Road in Washington Township, about 19 miles south of Philadelphia.
COLLEGE STATION, TEXAS — Scott & White Healthcare has opened the Rock Prairie Clinic, a four-story, 120,000-square-foot facility located at 700 Scott & White Drive in College Station. The clinic is located on the 98-acre Scott & White Hospital – College Station campus. Scott & White Healthcare is leasing 100 percent of the clinic, which will house its physicians and clinical outpatient services. Duke Realty is Rock Prairie's developer and owner. The design team includes architect Jacobs Engineering Group and general contractor Kitchell Contractors Inc.
MANSFIELD, TEXAS — Advenir, a multifamily investor and manager, has acquired Dolce Living at Mansfield, a 334-unit, Class A apartment community in Mansfield. Advenir branded the community as Advenir@Mansfield. The seller was the original developer, which completed the community in two phases in 2012. The property features a fitness center, internet cafe and resort-style swimming pool. Advenir plans to upgrade the interiors of some units to wood flooring, as well as adding fenced backyards to some units in order to appeal to residents with pets. Each unit includes custom cabinetry, stainless steel appliances and island-style kitchens with granite countertops. Will Balthrope and Drew Kile of Institutional Property Advisors represented the seller in the transaction. Advenir was self-represented. Braden Harmon of Berkeley Point Capital secured acquisition financing.
KATY, TEXAS — CBRE's national retail investment group has brokered the sale of the 87,469-square-foot Highland Knolls Shopping Center in Katy. A 62,389-square-foot Randall's anchors the shopping center, which is nearly 95 percent occupied. Randall's has 11 years left on its initial lease term. Highland Knolls is located at 1525 S. Mason Road in the Cinco Ranch submarket. Chris Cozby, Chris Gerard and Kevin Holland of CBRE represented the seller in the transaction. The buyer was Denver-based Revesco Properties.
CASTLE HILLS, TEXAS — Spencer Enterprises Ltd. has awarded Stream Realty Partners the leasing assignment for a 28,360-square-foot office property in Castle Hills, a suburb of San Antonio. The property is located at 1919 N.W. Loop 410. Carolyn Hinchey Shaw will serve as the leasing agent for the property. The office property has undergone upgrades recently, including enhanced landscaping and updated building entrances.