WASHINGTON, D.C. — An office building at 1718 Connecticut Ave. in Washington, D.C., has sold for $14.4 million. Richard McBride and Roy Ayers of McBride Real Estate Services Inc. represented both the seller, PRI Inc., and the buyer, an entity operated by telecommunications executive Dave Schaeffer. The 47,569-square-foot office building was built in 1982 and is fully leased. Tenants include the law firm of Katz, Marshall & Banks, Policy Study Associates, Electronic Privacy, and Martell & Associates.
YORK, S.C., AND ATLANTA — Blanchard Real Estate Capital has acquired a 152,000-square-foot Walmart Supercenter at 970 Liberty St. in York. Joe Montgomery and Tony D’Ambrosio of Colliers International represented the unlisted seller. Blanchard has also acquired the former State Bank and Trust at 4241 Roswell Rd. in Atlanta. The 7,300-square-foot building is an outparcel to Chastain Square Shopping Center, which is anchored by Publix. The company plans to redevelop the former bank.
ATLANTA — Mark Sixour and Bill Ireland of HFF have arranged a $20.6 million in refinancing for Parkwood Plaza, a 210,919-square-foot Class A office building in Atlanta. The 10-year, fixed-rate securitized loan was secured through The Goldman Sachs Group Inc. Parkwood Plaza is located at 1300 Parkway Circle in Atlanta’s Cumberland/Galleria submarket.
ANDERSON, S.C. — Brad Walker of Grandbridge Real Estate Capital has closed a $3.1 million first mortgage loan for Anderson Crossing Apartments, a 152-unit multifamily community in Anderson. Fannie Mae provided the funding for the 10-year fixed-rate loan, which features a 30-year amortization.
SILVER SPRING, MD. — Social & Scientific Systems Inc. has renewed its 88,230-square-foot, long-term lease at Silver Spring Plaza at 8757 Georgia Ave. in Silver Spring. Jim Cahill, Joe Judge and Bob Shue of Jones Lang LaSalle represented the tenant, and Marc Witowski of WPC represented the landlord, Washington Property Co.
MINNEAPOLIS — Opus Development Group has announced plans to begin development of VÉLO, a new apartment complex in downtown Minneapolis. Sentinel Management Co. will own the project. Located in the North Loop neighborhood at 103 N. 2nd St., Velo will include 101 units and 12,000 square feet of retail space on the first level. VÉLO, French for bicycle, is located near the city's bike path system and is centrally located downtown for bike commuters. Amenities will include an outdoor plaza, yoga studio, club lounge and fitness centers. The project will break ground in April 2013 and is slated for occupancy in spring 2014. Opus Development Corp. is the developer, Opus Design-Build LLC will construct the building and Opus AE Group and Elness Swenson Graham Architects will collaborate on the design.
DUBLIN, OHIO — Acting on behalf of a private investment group, Chicago-based Tricap has finalized the acquisition of the Residences At Sawmill Park for $8.3 million. The 120-unit apartment community in Dublin, a northwest suburb of Columbus, was purchased from Preferred Living. Tricap will serve as the property manager for the community and is planning to renovate much of the 10-year-old property. The community is 98 percent occupied.
WHEATON, ILL. — Chicago-based developer Centrum Properties has sold a 12,996-square-foot shopping center at the intersection of Main Street and Geneva Road in Wheaton for $4.8 million. The building is fully occupied and tenants include Starbucks Coffee, GameStop, Verizon Wireless and Qdoba Mexican Grill. The property sold to a Chicago-based buyer. Chad Firsel of Quantum Real Estate Advisors represented both parties in the transaction.
BRIGHTON, MICH. — Green Oak Business has acquired a 29,320-square-foot industrial property at 12482 Emerson Drive in Brighton. Jim Montgomery of Signature Associates represented the seller, CTI, in the transaction. The former CTI Environmental building will be converted into a truck depot and corporate offices.
WESTWOOD, MASS. — Campanelli has sold 30 Perwal St., a 101,000-square-foot office property in Westwood. The buyer was 30 Perwal Associates LLC. The building is fully leased to Steward Health Care. Campanelli's in-house construction management team has completed significant upgrades to the property. Robert Griffin, Edward Maher, Matthew Pullen and Michael Greeley of Cushman & Wakefield represented both parties in the transaction.