LEXINGTON, N.C. — The Roseview Group, a private real estate investment and advisory firm, has represented a bank advisory client on the $2.55 million sale of a 16,740-square-foot shopping center shadowed by Walmart in Lexington. Roseview directed the leasing and management of the center through CBRE. Mike Burkard and Steve Shields of CBRE represented the seller in the transaction.
MINNEAPOLIS — KBS Legacy Partners Apartment REIT has acquired Watertower Apartments, a 228-unit, Class A property in suburban Minneapolis. Watertown Apartments, located at 12300 Singletree Lane, is 95 percent occupied and units average 959 square feet. Amenities include a fitness center, business center, conference rooms, a sauna and courtyards with grills. The property also includes 100,000 square feet of retail space. HFF arranged a $25 million, five-year acquisition loan for the buyer through Allianz of America. Matthew Lawton, Sean Fogarty and Marty O'Connell led the HFF team that represented the seller in the transaction.
WASHINGTON TOWNSHIP, OHIO — Township Square Associated has sold Township Square, a 49,840-square-foot shopping center in Washington Township, located about 15 miles south of Dayton, for $12.6 million. The property, located at 1045-1165 Miamisburg-Centerville Road, is fully occupied by tenants such as Arhaus Furniture, Chipotle, Fedex Office, Piada and First Financial Bank. The building was constructed in 1989 and renovated in 2012. Jeff Johnston, Chris Prosser and Steve Trimmel of Colliers International represented the seller.
GROVE CITY, OHIO — Team Gemini has selected Colliers International to market Gemini Synergy Center Industrial Park in Grove City. The $250 million project will be constructed on 343 acres, just north of State Route 665. The industrial and research park will serve as a sustainable business cluster powered by a waste stream within a Community Reinvestment Area. Bill Baumgardner of Colliers will market the property to tenants. Team Gemini plans to become the main anchor at the park, and will build process facilities for recycled products.
INDIANAPOLIS — Lancaster Pollard has arranged $39 million in loans for the refinancing of seven nonprofit skilled nursing and skilled pediatric facilities in Indiana and Illinois, owned by Hoosiers Care. The facilities include: Exceptional Living Center of Brazil in Brazil, Ind.; Randolph Nursing Home in Winchester, Ind.; Richland Bean-Blossom Health Care Center in Ellettsville, Ind.; Vernon Manor Children’s Home in Wabash, Ind.; Exceptional Care and Training Center in Sterling, Ill., Swann Special Care Center in Champaign, Ill., and the Walter J. Lawson Children’s Home in Loves Park, Ill. Steve Kennedy and Chris Blanda led the Lancaster Pollard team that arranged the loans through the FHA 232/223(f) program.
NEW YORK CITY — TA Associates Realty has acquired the JFK Cargo portfolio, which includes 12 buildings adjacent to JFK International Airport's runway system in Queens, for $57.2 million. In addition to the 12 properties totaling 481,000 square feet, the deal includes eight land parcels. The buildings are 93 percent occupied, primarily by freight forwarders such as Aramex International, Gourmet Boutique and Aaron Rents Inc. The eight parcels are currently used as parking lots, but could provide additional on-site expansion. Andrew Merin, David Bernhaut, Gary Gabriel and Kyle Schmidt of Cushman & Wakefield represented the seller, Prologis Inc., in the transaction. They also procured the buyer.
WILMINGTON, MASS. — EagleBridge Capital has arranged a $4.7 million permanent mortgage loan for 255 and 261 Ballardvale Ave. in Wilmington. 255 Ballardvale Ave. is a 25,000-square-foot office building and 261 Ballardvale is a 60,000-square-foot research and development facility that was fully renovated in 2012. Both buildings are leased to Charles River Laboratories. Ted Sidel and Brian Sheehan of EagleBridge arranged the loan through a financial institution.
HARRISBURG, PA. — Pinnacle Health, a 13,050-square-foot medical office property in Harrisburg, has sold for $4.2 million, or $326 per square foot. The property, located at 2310 Patton Road, was developed as a build-to-suit for Pinnacle Health Systems in 2006. The transaction marked a record-setting sale for suburban office properties in this region, surpassing $325 per square foot at a cap rate of just greater than 7 percent, according to Marcus & Millichap. Benjamin Appel, Jeffrey Algatt, Zachary Pierce and Mark Thomson of Marcus & Millichap represented the seller, a developer, in the transaction. They also secured the buyer, a private investor
DELRAN, N.J. — Party City has signed a 10,126-square-foot lease at Millside Plaza, located at Route 130 and Haines Mill Road in Delran. Party City joins tenants such as Rite Aid and Panera Bread at the 77,583-square-foot center. Rob Samtmann of Equity Retail brokers represented the tenant in the transaction. Kimco Realty is the property owner.
AUSTIN, TEXAS — ARA has secured the sale of the 309-unit Avanti Hills, an apartment community formerly known as Alexan Galleria, located at 12601 Bee Cave Parkway in Austin. The property is 96 percent occupied and features two resort-style swimming pools, remote-control limited entry gates, a fitness center and landscaping. Patton Jones of ARA's Austin office represented the seller, an undisclosed Fortune 500 bank, in the transaction. The buyer was an undisclosed private investor based in Austin.