LIVERMORE, CALIF. — Granada Shopping Center, a 69,325-square-foot shopping center in Livermore, has sold to Retail Opportunity Investments Corp. for $17.5 million. The center is located at 1951 Holmes Street. It was 91 percent leased at the time of sale. Granada is anchored by Lucky Supermarket. Other tenants include Fairmont Bank, Cosmo Prof, Curves, Subway and Country Waffles. The seller was Granada Retail, LLC. Edward B. Hanley of Hanley Investment Group Real Estate Advisors assisted with the sale.
RICHMOND, VA. — Select Income REIT has purchased the global headquarters of MeadWestvaco from NewMarket Corp. for $143.6 million. Constructed in 2009 as a build-to-suit for the global packing and packaging solutions firm, the nine-story building is located at 501 S. 5th St. in Richmond’s River District. It totals 310,950 square feet and contains a conference and training center, cafeteria, coffee shop and fitness center. It holds a Four Globes rating from the Green Building Initiative. Stephen Conley, Dek Potts, Jim Meisel, Andrew Weir and Jess Dickinson, all of Holliday Fenoglio Fowler, represented NewMarket Corp. in the deal.
ARLINGTON, VA. — Los Angeles-based Lowe Enterprises has completed its redevelopment of 1400 Crystal Drive, a 13-story office tower located in Arlington’s Crystal City submarket. Lowe took the building down to its structural frame with the project, which began with the addition of a new floor-to-ceiling glass façade. The existing floor plates were expanded, adding 25,000 square feet to the building and bringing its total rentable size to 308,000 square feet.The lobby was modernized with marble and stainless steel finishes, and a penthouse terrace was added. The redesigned building also features an on-site fitness center and a tenant conference center. The building is designed to meet LEED-Gold standards. Lowe also signed its first lease with a tenant that will take the entire 24,667-square-foot top floor of the building.
JACKSONVILLE, FLA. — Colliers International has brokered the sale of an operations/data center in Jacksonville for $5.3 million. The property totals 119,330 square feet and is situated on approximately 12 acres at 8324 Baymeadows Way. The Colliers team of Chuck Diebel, Robert Selton III and Guy Preston represented the seller, First States Investors 4000C LLC. Bobby Gatling of Newmark Grubb Phoenix Realty Group represented the buyer, CXP Capital LLC.
ROCKVILLE, MD. — Federal Realty Investment Trust has begun a renovation project at The Crest at Congressional Plaza, a 146-unit apartment community the REIT owns in Rockville. The project will include common area and unit upgrades. A new outdoor café area will be built along with a new swimming pool and lounge area. Units will receive new porcelain flooring, luxury kitchens, hotel-inspired bathrooms and designer lighting packages. Select units will also receive updated patios. The project team includes McInturff Architects, Lohre Interior Consultants, Lila Fendrick Landscape Architecture & Garden Design, and Ross Renovation & Construction Management. Completion is slated for summer 2014.
FORT MYERS, FLA. — LandQwest Commercial has brokered the sale of a former Iberia bank branch in Fort Myers for $1.2 million. The two-story, Class A office building is located at 2225 First St. and contains 7,981 square feet of space. LandQwest’s Bryan Myers represented the undisclosed seller in the deal. The buyer was Palm Lee Properties.
GRANGER, IND. — The Marquette Cos. has purchased Main Street Village, a 400-unit apartment community in Granger, a northwest suburb of South Bend. The purchase price was undisclosed. Located at 5504 Town Center Drive, about three miles from Notre Dame University, the property represents the second purchase completed in a joint venture with New York-based DRA Advisors. Built in two phases between 2001 and 2003, Main Street Village is a garden-style community that includes one-, two- and three-bedroom apartments, some with attached one- or two-car garages. The apartments measure 653 to 1,389 square feet and include a private entry, washer and dryer and private outdoor space. Amenities at the apartment community include an outdoor swimming pool, fitness center, sauna, tanning bed, gymnasium, business center, movie theater, TV lounge, billiards table and a car wash center. Rents range from $829 to $1,684 per month.
BETTENDORF, IOWA —EnTrust Realty Advisors LLC has arranged the sale of the Lincoln Healthcare Building, a 39,899-square-foot medical office building in Bettendorf. The purchase price was undisclosed. Genesis Health System anchors the building, which is located at 865 Lincoln Road, about seven miles northwest of Davenport. EnTrust Realty Advisors and NAI Ruhl & Ruhl Commercial Co. represented the seller, a private partnership, in the transaction. Mel Foster Commercial represented the buyer, a local private investor.
MOKENA, ILL. — Irgens has begun developing Mokena Medical Commons, located on 191st St. in Mokena, about 35 miles southwest of Chicago. Women’s Healthcare of Illinois, a group that provides comprehensive woman-focused healthcare services, has committed to lease 15,000 square feet at the single-story, 30,000-square-foot, Class A facility. The 3.7-acre site will allow for a flexible floor plan to accommodate tenants of all sizes, an abundance of surface parking and customized suites.
NEW YORK CITY — Silverstone Property Group and Adam America Real Estate Group have sold a mixed-use property in the Williamsburg neighborhood of New York City for $28.7 million to an undisclosed buyer. Located at 65-69 N. 6th St., the property includes 28 apartments and 4,000 square feet of ground-floor retail. Silverstone and Adam America developed the mixed-use property after purchasing the stalled development from its prior owner. The developers started construction on the project in August 2011, which was completed in September 2012.