SALINAS, CALIF. — Boronda Plaza, a 93,796-square-foot, grocery-anchored retail center in Salinas, has sold to Phillips Edison-ARC Shopping Center REIT Inc. for an undisclosed sum. The center is located at 1576 North Sanborn Road. It was built in 2002 and boasts a 95 percent occupancy. Boronda is anchored by a 59,412-square-foot Food 4 Less. The seller, Donahue Schriber, was represented by HFF’s Nicholas Bicardo, Mark Damiani and Bryan Ley.
SAN DIEGO — West Park, a 612-unit apartment community, has broken ground in San Diego’s Mission Valley submarket. The midrise community will be located near the intersection of Friars Road and Mission Center Road in the new community of Civita. The first phase is scheduled to be completed for summer 2014 move-ins.It will be built by Coyle Residential and Reno Contracting and designed by Newman Garrison Partners. HFF provided construction and permanent financing. The developer, Sudberry Properties, was represented by HFF’s Aldon Cole, Zach Holderman and Christopher Liu.
ATLANTA AND COLLEGE PARK, GA. — Houston-based Boxer Property has acquired two Atlanta-area office buildings. The first is Meridian, a 97,000-square-foot property located at 1995 N. Park Place in Atlanta. The second is Waterstone, a 93,000-square-foot property located at 4751 Best Road in College Park. The seller’s name and the acquisition price were not released. With this purchase, Boxer’s Atlanta portfolio now includes five buildings totaling more than 841,000 square feet of space.
ODENTON, MD. — AEW Capital Management has acquired a Maryland apartment community from South Carolina-based Johnson Development Associates. The recently constructed Haven at Odenton Gateway is located at 615 Carlton Otto Lane in Odenton. The property contains 252 one-, two- and three-bedroom units averaging 1,031 square feet each. Property amenities include a resort-style saltwater pool, with a cabana, fitness center, private theater room, conference room, clubhouse, dog run, and car care center. The Holliday Fenoglio Fowler team of David Nachison, Alan Davis and Brenden Flood represented the seller in the deal. The acquisition price was not disclosed.
COLUMBIA, S.C. — Patel, Lewis, Pournaras LLC has acquired downtown Columbia's iconic Keenan Building, a 121,682-square-foot office property. The building is located in Columbia's central business district at 1310 Lady St. The purchasing partnership is planning a $5 million historic restoration of the property with the goal of bringing back the original 1930s and 1950s facade. The seller was Keenan Building Partnership. Neel Keenan and Henry Moore with Colliers International represented the buyer in the transaction. Patel, Lewis, Pournaras has also retained Colliers International as the leasing agent for the building.
JACKSONVILLE, FLA. — Cortland Partners has purchased a Jacksonville apartment community for $22.5 million. Reserve at Deerwood contains 226 units and is situated adjacent to AQUA Deerwood, a 391-unit community Cortland acquired in 2012. In the near term, Cortland plans to renovate and upgrade the property and incorporate it into the AQUA Deerwood community. Berkadia Commercial Mortgage and Ares Commercial Real Estate Corp. helped arrange acquisition financing for the deal. The seller’s name was not released.
NORTH MIAMI BEACH, FLA. — Marcus & Millichap has completed the sale of North Miami Beach Ale House for $4.35 million. The 8,999-square-foot restaurant is located at 3227 NE 163rd St. North Miami Ale House has been open for 14 years and currently has 12 years remaining on a triple-net lease, which also includes two five-year options. Adam Tiktin and Michael Biama of Marcus & Millichap’s Miami office represented the seller, a private investor from Boca Raton, as well as the buyer, a private investor from Aventura.
DEARBORN HEIGHTS, MICH. — Landmark Commercial Real Estate Service Inc. has arranged the $7.9 million sale of a retail property in Dearborn Heights, about 15 miles west of Detroit. Walgreens fully occupies the property, which is located at 25700 Ford Road. Daniel Kukes and Kevin Baker of Landmark Commercial Real Estate Services Inc. represented the buyer, a non-traded REIT, in the transaction. John Kello, also of Landmark, represented the seller, a Michigan-based developer.
BOWLING GREEN, OHIO — The Boulder Group has completed a sale of a 4,495-square-foot, single-tenant property located at 745 Innovation Drive in Bowling Green for $1.2 million. The Social Security Administration fully occupies the property and has more than nine years remaining on its lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer, a 1031 tax-deferred exchange partnership based in Colorado. The seller was an individual based in Michigan.
ST. LOUIS, MO. — Plumbers Supply Co. (PSC) has purchased a 51,000-square-foot building located at 4500 Swan Ave. in St. Louis for $975,000. PSC will move from its current 30,000-square-foot headquarters at 6135 Horton Place in University City to its new location in September. Jake Shepley of Hilliker Corp. represented the buyer.