OCEANSIDE, CALIF. – A 45,000-square-foot industrial property in Oceanside has sold to Precision One Ventures for $3.9 million. The property is located at 3923 Oceanic Drive. Precision One will occupy about 70 percent of the building. A new tenant signed a lease for the balance of the property during the transaction. Precision One was represented by Greg Pieratt and David Howard of Lee & Associates’ North San Diego County office.
ALPHARETTA AND GREENVILLE, S.C. — Grandbridge Real Estate Capital has closed financing for three multifamily properties totaling $76 million. Mike Ortlip of Grandbridge arranged a $21 million first mortgage loan for Stoneleigh at Deerfield, a 370-unit community in Alpharetta. He also secured a $14 million acquisition loan for City Edge Apartments in Greenville, which was funded through BB&T Real Estate Funding. The three-year loan will also be used for the redevelopment of the property. Additionally, the company arranged a $39 million permanent loan for the Preserve at Travis Creek, a 608-unit community in Austin.
EMERSON, GA. — LakePoint Sporting Community & Town Center has acquired 74.4 acres of land in Emerson from Allatoona Distribution. The new acreage will be part of LakePoint's South campus, which will include a fast-pitch softball/junior baseball complex; Terminus Wake Park, the largest cable wake boarding park in North America; a track and field venue; and a 100,000-square-foot indoor sports pavilion. The project broke ground in November.
ELKRIDGE, MD. — 6625 Selnick Drive LLC, an environmental engineering and consulting firm, has acquired a 30,000-square-foot industrial building at 6625 Selnick Drive in Elkridge for $2.3 million. The buyer will occupy a majority of the building, while leasing out the remainder. Alan Orman of Cassidy Turley represented the seller. Hayes Merkert of Cushman & Wakefield represented the seller, Bernstein Management Corp.
ORLANDO — Magellan Behavioral Health Inc. has expanded its office and warehouse lease by 17,688 square feet at 6870 Shadowridge Drive in Orlando. The company, which already occupied Suites 10 and 11 in Building A, will additionally occupy Suites 7 through 9 for a total of 27,867 square feet. Jamie Barati of Colliers International and Jamie Smith of Cassidy Turley represented the tenant in the transaction. Robert Blackwell of NAI Realvest represented the landlord, Semoran Commerce Center LLC.
CHICAGO — Fifield Cos. and national developer Wood Partners have received a partial certificate of occupancy for the $198 million K2, a 496-unit luxury apartment building in Chicago’s River West neighborhood. The certificate of occupancy is valid for the basement through the seventh floor of the 34-story apartment tower, and the first move-ins will take place March 1. Residences at K2 include studio, one-, two- and three-bedroom apartments. Interiors feature nine-foot ceilings, stainless steel appliances, granite counter tops and plank flooring. Rents range from $1,650 for a studio to $6,500 for a three-bedroom, three-bath penthouse. Locally based Fifield partnered with Wood Partners to break ground on K2 in October 2011. Construction for the entire building is nearly complete and leasing has begun.
BELOIT and GREEN BAY, WISC. — HREC Investment Advisors has arranged a $7.9 million loan for the refinancing of the 62-room Fairfield Inn in Green Bay and the 94-room Fairfield Inn & Suites in Beloit. HREC placed the five-year, fixed-rate conduit loan with an international investment bank. Scott Kaniewski represented the borrower in the deal.
WICHITA, KAN. — Locally based Occidental Management has acquired the historic Union Station campus in Wichita. While the purchase price was not disclosed, the list price for the property was $6.5 million. The 9.5-acre sit includes four buildings — two are listed on the National Historic Registry— totaling more than 111,000 square feet. NAI Martens represented the seller, Cox Communications in the deal. Occidental plans to convert the building to mixed-use including restaurant, retail and office spaces. Union Station is located in downtown Wichita, between the Old Town Entertainment District and the 15,000-seat INTRUST Bank Arena.
TROY, MICH. — Ride Control LLC has renewed its lease of 45,920 square feet of hi-tech space located at 950 Maplelawn Drive in Troy. John Boyd and Paul Hoge of Signature Associates represented the landlord, Troy Industrial LLC, and the tenant. Locally based Ride Control manufactures and supplies automotive shock absorbers and struts.
MALVERN, PA. — IMC Construction has completed construction of the $85 million Endo Health Solutions world headquarters in Malvern. Located within the Atwater Corporate Center, the 320,000-square-foot facility was developed by Chambers Street Properties in a joint venture with Trammell Crow Co. The facility includes two five-story buildings overlooking Quarry Lake with a two-story building connector and one-story parking deck with 420 parking spaces. The project broke ground in January 2012.