NORTH PORT, FLA. — Heron Creek Towne Center, a 64,664-square-foot, Publix-anchored neighborhood shopping center in North Port, has sold for approximately $8.7 million to Phillips Edison-ARC Shopping Center REIT Inc. A Tennessee-based private investment group sold the property located at 1289 S. Sumter Blvd. Heron Creek Towne Center was built in 2001 and includes tenants Subway, The UPS Store and Sparkle Brite Pool Stores. Mark Shellabarger and Cliff Taylor of CBRE represented the seller.
CHICAGO — Summit Design + Build has broken ground on a new 8,500-square-foot food processing facility for Upton's Naturals in Chicago. The building is under construction on a vacant site at 2054-58 Grand Ave. in the city's West Town neighborhood. Upton's Naturals is a Chicago-based vegan natural foods company, and the firm will be relocating to the new facility from 1939 W. Fulton. UrbanLand is the project architect and U.S. Bank provided the financing for the project. Completion is scheduled for late June 2013.
ST. PAUL, MINN. — Dougherty Mortgage LLC has arranged a $47.2 million loan for the refinancing of River Crossing, a 313-unit apartment complex in St. Paul. Gateway Apartments Limited Partnership is the buyer. Dougherty Mortgage arranged the 35-year loan through the HUD 223(f) refinance program. The complex was built in 2005, and is part of the “Gateway Village” development on the west side of St. Paul.
NEW YORK CITY — A joint venture between RWN Real Estate Partners, Dalan Management and Standard Property Co. has acquired a mixed-use portfolio in New York City for $49.9 million. The properties are located at 380-386 Broome St., 9 Christopher St. and 55-59 and 61-63 Delancey St. The portfolio features 100 multifamily units and 14 fully-leased retail units. James Nelson, Michael DeCheser and Robert Burton of Massey Knakal represented both parties in the transaction.
GARDEN CITY, N.Y. — Onyx Equities has purchased Atria West, a 235,000-square-foot, Class A office building in Garden City. CAF Realty was the seller. The deal, one of the largest office transactions of 2012 on Long Island, closed for a reported $29 million. Onyx will soon begin upgrading the public areas of the property, which is also known as 900 Stewart Avenue. Spector Group, which designed the building, is designing the renovations. Tenants at the building include JP Morgan Chase and AT&T. There is currently 77,452 square feet available for lease. The company has appointed the Rochlin Organization as leasing agent.
BOSTON — Fortium Realty has acquired a 24-unit apartment property at 15 Leicester St. in Boston for $5.1 million. All of the units were occupied at the time of sale. Carl Christie and Dan McGee of NAI Hunneman represented the seller, The Man Trust, in the transaction. They also procured the buyer.
FREEHOLD TOWNSHIP, N.J. — The Solomon Organization has completed its purchase of the 172-unit Chesterfield Gardens in Freehold Township for $16.5 million. The two-story, garden-style apartment complex is located at 210 Harding Road and the property includes laundry facilities and parking. The complex is also situated near Jersey Shore beaches. Joseph Brecher and Steven Follman of Gebroe-Hammer Associates represented both parties in the transaction.
AUSTIN — PS Business Parks has acquired three multi-tenanted flex properties in Austin totaling 226,000 square feet for $14.9 million. The properties are 86.1 percent leased to companies with an average customer size of 21,600 square feet. PS Business Parks owns more than 1.7 million square feet of space in Austin, which was 95.8 percent leased prior to this transaction.
KATY — Houston-based PinPoint Commercial has commenced construction on a two-story, 104-bed assisted living and memory care facility known as The Legacy at Falcon Point. The facility will be located at the intersection of Roesner and Katy Gap roads in Katy. Construction is slated for a late 2013 completion. The facility will feature a restaurant, movie theater, store, spa, gym and sports bar. PinPoint is collaborating with Thrive Senior Living on the development.
DALLAS — Colliers International North Texas has arranged the sale of the 147,252-square-foot Advancial Tower, a 17-story Class A office tower located at 1845 Woodall Rogers Freeway in uptown Dallas. The office tower overlooks the newly delivered Klyde Warren Park and has a tenant roster including Advancial, Omniplan, GroupM and Genesco. Jim Graham, Creighton Stark and Ben Lurie represented the buyer in the transaction. Charter Holdings was the seller. Greg Grainger and David Quisenberry of Colliers will handle leasing and managing responsibilities for the tower.