CANTON, GA. — The 114,751-square-foot Hickory Flat Commons retail center has traded for $19 million at 6764-6776 Hickory Flat Highway in Canton, approximately 30 miles northwest of Atlanta. Connolly Realty Services sold the property to an affiliate of Cole Real Estate Investments. It was built in 2008 and anchored by Kroger. Other tenants include Anytime Fitness, Verizon Wireless, Little Caesars, Gymboree and Great Clips. Jim Hamilton and Richard Reid of HFF represented the seller, and Thomas Falatko represented Cole Real Estate Investments in house.
CUMMING, GA. — CNL Lifestyle Properties, a real estate investment trust, has acquired Laurel Creek Manor, a seniors living community in Cumming, for $7.5 million from an affiliate of Servant Investments. The property will be added to the Dogwood Forest family of four seniors living properties acquired by CNL Lifestyle Properties in the Atlanta area last May. Laurel Creek Manor is a needs-based community totaling 48 units, including 36 assisted living units and 12 memory care units. It opened in 2009 and was 100 percent occupied as reported at the end of last October. The property is located approximately 35 miles north of Atlanta.
ASHEVILLE, N.C. — Bell Partners Inc. has sold the 252-unit Westmount Commons apartment complex in Asheville to Trade Street Residential Inc. for an undisclosed price. Amenities include 24/7 fitness and business centers, a resort-style pool, coffee bar and clubhouse. Bell Partners acquired Westmount Commons in 2006 and added 72 units to the multifamily community in 2009.
MIAMI — South Florida-based general contractor Miller Construction Co. has completed the 8,140-square-foot Carol City Early Learning Center, a child development center in Miami, for Education First Inc. It includes seven classrooms, six bathrooms, a multi-purpose room, two fenced-in playground areas, and space for a future commercial-grade kitchen. It also features a functional drop-off lane and parking lot. The Carol City Early Learning Center serves children six weeks old through eight years old. Programs include pre-school and voluntary pre-kindergarten classes with a customized curricula, and daycare, afterschool care and summer camp.
CHICAGO — Marcus & Millichap Capital Corp. has arranged a $13.5 million refinancing loan for an office building and two multi-tenant retail properties in Illinois. Dean Giannakopoulos of Marcus & Millichap secured the seven-year loan, which amortizes at different schedules for each property (from 15 to 20 years). The loan-to-value is 75 percent. The office property is located in Chicago's River North neighborhood, and is fully occupied by local tenants. The two retail assets are located in Mt. Prospect and Woodstock.
CHICAGO — Englewood Construction has secured a project for Macerich and Darden Restaurants Inc. to create a new Seasons 52 at The Shops at North Bridge, located on Chicago's Michigan Avenue. Englewood will perform landlord infrastructure work for Macerich, the center owner, at a 9,249-square-foot space and then begin a build-out for Seasons 52 at the same location. The work is projected to be complete February 2013. The restaurant will occupy the ground-floor space at the corner of Rush Street and Grand Avenue. Cuhaci & Peterson Architects will provide design services.
BOSTON — Skanska USA Commercial Development Inc. has purchased Parcel L1 in Boston's Seaport District, with plans to develop a 455,000-square-foot office building on the site. Located in the 23-acre, mixed-use Seaport Square development, the parcel is located at the corner of Seaport Boulevard and Boston Wharf Road. Boston Seaport LLC, a partnership between Morgan Stanley and Boston Global Investors, was the seller. Skanska acquired the land and development rights for $33 million and contributed an additional $4.5 million to Seaport Square's public realm improvements. The site is adjacent to Parcel K, the property Skanska bought last year with Wining Properties.
LANCASTER, PA. — Marcus & Millichap has arranged the $28.2 million sale of a multifamily portfolio in Lancaster, totaling 387 units. The first property is Windsor Court Townhomes, a 125-unit single-family neighborhood at 1821 Hidden Lane. The sale also included Cherryhill Villas, a 118-unit apartment community at 560-02 Estelle Drive, and Sweetbriar Apartments, a 143-unit property at 1917 Oregon Pike. Recent upgrades at Sweetbriar include a refurbished private pool area along with new windows and patio doors. Mark Thomson, Zachary Pierce, Ridge MacLaren, Clark Talone and Andrew Townsend of Marcus & Millichap represented the buyer, a regional limited liability company, in the transaction.
SOUTHBOROUGH, MASS. — Ken's Foods Inc. has acquired a 350,000-square-foot warehouse at 325 Turnpike Road in Southborough, which previously served as a site for Verizon Wireless, for $15 million. Ken's Foods makes and distributes more than 400 dressings, marinades and sauces. The company will use the new space and its surrounding 51 acres for finished goods distribution. Kevin Hanna of Cassidy Turley represented the buyer in the transaction. John Lashar of Richards Barry Joyce & Partners represented the seller, Cornerstone Real Estate Advisors.
LEOMINSTER, MASS. — Calare Properties has acquired a vacant, 588,868-square-foot industrial building at 25 Tucker Drive in Leominster for $11.6 million. After completing miscellaneous repairs, the new owner plans to redeploy the property into the marketplace for lease. The facility features 5 to 10-inch concrete floors, 28-foot clear ceiling heights, 36,300 square feet of air-conditioned office space and seven rail side doors. Tim O'Callaghan of Binswanger represented both parties in the transaction.