DES PLAINES, ILL. — Saban Capital has acquired a 239,331-square-foot office building in Des Plaines for $39 million. The FAA Great Lakes regional headquarters and a smaller General Services Administration tenant lease 92.5 percent of the four-story office building. Transwestern’s Chicago office arranged the sale of the property, 2300 East Devon, on behalf of O’Hare Lake Office Park LLC. 2300 East Devon is one of five multi-story buildings within the 50-acre O’Hare Lake Office Park. The property was 94 percent occupied at the time of sale.
OAK BROOK, ILL. — Inland Real Estate Acquisitions and IREIT Business Manager & Advisor, on behalf of Inland American Real Estate Trust, have acquired retail assets in four states totaling $25.5 million. The properties include: Newington Fair, a 186,205-square-foot shopping center located in Newington, Conn., purchased for $17.2 million; and a portfolio of seven Dollar General stores, totaling approximately 63,000 square feet, located in Alabama, Georgia and Tennessee, purchased for $8.3 million. Lou Quilici, senior vice president of IREIT Business Manager & Advisor, facilitated the acquisition of Newington Fair. Joe Cosenza, president of Oak Brook-based Inland Real Estate Acquisitions, facilitated the purchase of the Dollar General stores.
SHAKOPEE, MINN. — Arizona-based Liberty Property Trust has purchased two buildings at Park 2000 in Shakopee, Minn., south of Minneapolis. The first property, Park 2000 Phase II located at 5555 12th Ave. E., is a 128,172-square-foot office building and is fully leased to S.W. Anderson Co., My Pillow and North American Membership Group Inc. The second property, Park 2000 Phase IV located at 1150 Gateway Drive, is a 153,454-square-foot industrial building and is fully leased to Logistics International LLC. LNR Partners was the seller. Terms of the deal were not disclosed.
RAYMORE, MO. — Sam’s Club has broken ground on a 136,085-square-foot grocery store at Raymore Galleria shopping center in Raymore just south of Kansas City. The store is scheduled to open this October. Sam’s Club is the newest tenant to the 400,000-square-foot shopping center located at Highway 58 and Dean Avenue. Kansas City-based Block & Co. Inc. is construction manager for the project.
MANKATO, MINN. — Marcus & Millichap has sold O’Reilly Auto Parts, an 8,343-square-foot property for $700,000 in Mankato, south of Minneapolis. The net-leased property is located at 510 Pfau St. Marcus & Millichap represented the buyer, an individual trust, and the seller, a private investor, in the deal.
SOUTH WINDSOR, CONN. — Marcus & Millichap has arranged the $32.2 million sale of a FedEx Ground package and sorting facility in South Windsor. The 224,061-square-foot facility is fully leased to FedEx Ground Package Systems for 15 years. Laurie Ann Drinkwater and Seth Richard of Marcus & Millichap represented the buyer in the transaction.
PARSIPPANY, N.J. — Prism Capital Partners and The Davis Cos. have acquired 339 Jefferson Road, a 102,433-square-foot office building in Parsippany. The Realty Associates Fund IV was the seller. The property, formerly known as Kingsbridge Corporate Center IV, is located near the junction of I-80 and I-287. The Sheraton Tara Hotel and Hyatt House are minutes away. Gary Gabriel of Cushman & Wakefield represented both parties in the transaction.
MARLBORO, N.Y. — Brooklyn Bottling Group has acquired a 113,532-square-foot manufacturing building at Route 9 West and Riverview Drive in Marlboro. Brooklyn Bottling, one of the largest independently owned beverage and food companies in the U.S., plans to use the facility as a warehouse for its finished goods. The building features 9,500 square feet of office space and newly installed loading docks. Jim Panczykowski of Binswanger represented the seller, Chelsea Homes Inc., in the transaction.
NEW YORK CITY — Two adjacent apartment buildings at 38-52 Fort Washington Ave. have sold for $13.6 million. The six-story buildings contain a total of 117,276 square feet. The property is located near Columbia Presbyterian Hospital and the Broadway retail artery. Riverside Park and Highbridge Park are also nearby. Recent upgrades to the property include new elevators, roofs, boilers, intercoms and fire escape cages. Robert Shapiro of Massey Knakal represented both parties in the transaction.
WOBURN, MASS. — M&K Engineering has purchased 166 New Boston St., a single-story industrial building in Woburn, for $2.1 million. M&K will use the building to expand its precision machining business. James and David Stubblebine of The Stubblebine Co./CORFAC International represented the seller and procured the buyer in the transaction.