QUINCY, ILL. — Marcus & Millichap Capital Corp. has arranged a $5 million refinance for a 14,820-square-foot Walgreens in Quincy. Steven Goldwyn of the Fort Lauderdale office arranged the loan. The nonrecourse, 10-year loan carries a 4.5 interest rate and includes a 30-year amortization schedule. “The borrower wanted to retire the seller carry-back debt from when they closed the property’s acquisition at the end of 2012,” says Goldwyn.
SAUKVILLE, WIS. — Mr. Mover Inc., a moving and storage company, has purchased an 8,800-square-foot industrial building in Saukville, about 25 miles north of Milwaukee. General Chemical sold the property, which is located at 500 N. Progress Drive. The purchase price was undisclosed. General Chemical acquired the facility in 2006. Mr. Mover will relocate from its current building at 336 S. Spring St. in Port Washington. James Young of Cassidy Turley Barry represented General Chemical in the transaction. Jeff Hoffman of Judson & Associates represented Mr. Mover.
PHILADELPHIA — Cronheim Mortgage has arranged $50 million in refinancing for a three-property, 750,000-square-foot office portfolio located in suburban Philadelphia. A national bank provided the five-year nonrecourse loan. A mix of small professional office, medical, corporate satellite, education and government users occupy the one- and two-story office buildings. David Turley, Anna Westhoff and Janet Proscia of Cronheim Mortgage advised the borrower.
NEW YORK CITY — GFI Realty Services Inc. has arranged the $9 million sale of 220 E. 18th St., a multifamily building located in the Prospect Park South section of Brooklyn. Built in 1926, the 63,000-square-foot property includes 100 apartments. Joseph Landau of GFI Realty Services Inc. represented the seller, a local investor. Josh Orlander, also of GFI Realty represented the buyer, a local investor.
PURCHASE, N.Y. — WestMed Medical Group has signed a long-term lease to occupy an 85,000-square-foot medical office building in Purchase, located about 30 miles north of New York City. Simone Healthcare Development and Fareri Associates is currently constructing the four-story property, which is situated within the Harrison Executive Medical Park at 3030 Westchester Ave.
HOUSTON — Construction has begun on Wallis State Bank’s new corporate headquarters, a 67,000-square-foot, Class A office building located on Kempwood Drive and Beltway 8 in Houston. Arch-Con Construction is the general contractor for the property, and Powers Brown Architects is providing design services. Wallis’ headquarters will occupy 25,000 square feet and customer banking will occupy 4,500 square feet. The remaining space will be available for lease.
AUSTIN, TEXAS — Hendricks-Berkadia has arranged the sale of Canyon Oaks, a 562-unit apartment community located at 1601 Royal Crest Drive in Austin. The complex offers studio, one-, two-, three- and four-bedroom floor plans. George Deuillet III of Hendricks-Berkadia negotiated the transaction between the seller, S2S Canyon Oaks Associates LP, and the buyer, Austin-based Presidium Group.
FARMERS BRANCH, TEXAS — Colliers International North Texas has brokered the lease for Texas Industries’ (TXI) new, 44,000-square-foot office lease in the Park West office complex at 1501 LBJ Freeway in Farmers Branch. More than 160 TXI employees will be relocated to the new office in November. Jim Graham and Travis Ewert of Colliers International represented the tenant. Grant Sumner, Joe Pustmueller and Sarah Hinkley of Peloton Commercial Real Estate represented the landlord, Highland Capital Management.
HOUSTON — Cresa has arranged the sale of half of the 19,000-square-foot retail center Grisby Square, located at 302 Stafford St. in the Far West retail submarket of Houston. The sold property includes the locations of Ginger Thai Spice and Watson’s House of Ales. Steven Heal of Cresa represented the owner, Holt Partnership, in the sale to Hospitality USA, which was self-represented by Jaime Blake in the transaction.
DALLAS — Marcus & Millichap Real Estate Investment Services has arranged the sale of Catalina Court, a 123-unit apartment complex located at 3425-3435 S. Polk St. in Dallas. Steven Crittenden of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer is an investor that owns multiple multifamily properties on South Polk Street.
