MIAMI GARDENS, FLA. — Miami Dade Printing Co. has purchased a 73,500-square-foot warehouse in Miami Gardens for $3.6 million. The property is located on 3.76 acres within Sunshine State Industrial Park at 16111 NW 13th Ave. Constructed in 1965, the building features a 22-foot ceiling height, dock-height doors, street-level doors, truck wells and additional land for parking or building expansion. Miami Dade Printing plans to relocate to the property in October. Mike Silver of CB Richard Ellis represented the seller, Norman Shapiro, trustee. Elsa Heredia and Doug Whitten, also of CB Richard Ellis, represented the buyer.
HOMESTEAD, FLA. — The Miami office of Grandbridge Real Estate Capital has originated $14.38 million in permanent financing for Oasis Plaza Shopping Center, a 68,000-square-foot retail property located in the Miami suburb of Homestead. The non-recourse loan carries a 10-year term and a 30-year amortization schedule. Grandbridge’s Philip Carroll and Michael Balan arranged the deal on behalf of the undisclosed borrower through a life insurance company.
INDIANAPOLIS — Sourwine Real Estate Services has broken ground on the first speculative office building in the Indianapolis market since 2008, according to Cassidy Turley, leasing agent for the property. The project, which includes 80,700 square feet of Class A space for lease, is scheduled for completion by the end of the second quarter. Dubbed 8335 Keystone Crossing, the three-story structure is the third building in Sourwine’s Keystone Office Centre southeast of 86th Street and Keystone Avenue. The estimated cost of the project is $12 million, according to the Indianapolis Business Journal. CSO Architects designed the building, and Shiel Sexton managed the construction. Sourwine will own, develop and manage the new multi-tenant space.
TROY, MICH. — Magna International Inc. has signed a 117,319-square-foot office lease at 750 Tower Drive in Troy. The building, which will be Magna’s new headquarters, is located in the North Troy Corporate Park. The automotive supplier is moving from an 80,000-square-foot location on Wilshire Drive in Troy. Magna will move several hundred employees to the new location in September. David Friedman, president and CEO, and Robert Gagniuk, associate broker, of Friedman Integrated Real Estate Solutions represented the landlord in the transaction. When Friedman began managing the 240,000-square-foot property in May 2012, it was vacant. After renovations, rebranding and leasing initiatives, the building is 60 percent occupied.
BOLINGBROOK, ILL. — Sony Music Holdings Inc. has renewed its 281,464-square-foot lease at 430 Gibraltar Drive in Bolingbrook, a southwest suburb of Chicago. NAI Hiffman manages the property, which is located off I-55 near Route 53. Mark Moran and Steve Connolly of NAI Hiffman represented the landlord, Sun Life Assurance Co. of Canada, in the transaction. Aileen Gozzola Sandstedt of CTK Chicago Partners represented Sony.
LIVONIA, MICH. — Los Angeles-based firms Hackman Capital Partners LLC and Oak Pass Capital Management have purchased two industrial properties in Livonia totaling 285,306 square feet. The properties were acquired through Auction.com from LNR. The purchase price was not disclosed. The buildings, located at 38220 and 38150 Plymouth Road, are fully occupied. Tenants at the properties include Helm Inc. and McKesson.
NEW YORK CITY — An investor group led by Joseph Betesh of Milestone Equities has acquired The Bowery Portfolio, 11 mixed-use properties located between Houston and Canal streets in the Bowery neighborhood of New York City, for $62 million. The properties are located at 83, 85, 88, 103, 105, 219, 221, 262, 276, 280, and 284 Bowery St. and total approximately 143,230 square feet. The properties have been family owned since the 1930s.
NEW YORK CITY — Meridian Capital Group LLC has arranged the $55 million refinancing of the Five Columbus Circle office and retail property in New York City on behalf of 1790 Broadway Associates LLC. A national balance sheet lender provided the 10-year loan, which includes full-term, interest-only payments and carries an interest rate of 3.4 percent. The 21-story, 225,700-square-foot building is located at 1790 Broadway. The building features 8,700 square feet of ground-floor retail and is 95 percent occupied. Tenants at the property include Columbia Artists Management, Columbia University, Fordham University and HSBC in the retail portion. Five Columbus Circle is owned by an entity controlled by New York City-based Ionian Group.
WINDHAM, MAINE — A triple-net ground lease on a 138,134-square-foot Lowe’s in Windham has sold for $12.4 million or, $90 per square foot. Robert Horvath, vice president of investments, and Todd Tremblay, associate vice president of investments, at Marcus & Millichap’s Boston office, represented the seller, a regional owner and developer. The buyer is an institutional investor specializing in net-lease properties. The original 20-year lease was signed in March 2005 and includes six five-year options. The building is located at 64 Manchester Drive, about 20 miles north of Portland.
HOUSTON — Moody Rambin Interests has arranged the sale of Park Green I, a 90,904-square-foot office building located at 8300 Bissonnet St. in Houston. Rob Chandler of Moody Rambin represented the seller, Khoshbin 8300 LLC, in the transaction.