TAMPA, FLA. — Safeguard Self Storage has sold a three-property self-storage portfolio in the Tampa area for approximately $25 million to W.P. Carey. The portfolio totals 2,250 units and 225,569 square feet. The three properties are located at 31100 U.S. Highway 19 North in Palm Harbor, Fla.; 3708 W. Bearss Ave. in Tampa; and 2501 22nd Ave. North in St. Petersburg, Fla. Michael Mele of Marcus & Millichap’s National Self-Storage Group represented Safeguard Self Storage in the transaction.
BALTIMORE — New York-based Promed Acquisition Inc. has purchased a leasehold interest in four floors of the eight-story Johnston Professional Building on the campus of MedStar Union Memorial Hospital in Baltimore. Johnston Professional LP sold the leasehold interest for $21.75 million. The first four floors are owned and operated by the hospital and the top four floors are subject to a long-term air rights lease. The property is located at 3333 N. Calvert St. and is fully occupied with tenants MedStar Union Memorial Hospital and Greater Chesapeake Orthopedic Associates. Jonathan Carpenter, James Wellschlager and Douglas Brinkley of Cassidy Turley represented the seller.
LAKELAND, FLA. — The 236-unit Cleveland Heights multifamily community has sold for $8.65 million in Lakeland. It was built in 1975 and underwent capital improvements this year. The property is located at 3520 Cleveland Heights Blvd. and consists of 31 one- and two-story buildings. Michael Regan and Francesco Carriera of Marcus & Millichap’s Tampa, Fla., office represented the seller, a private investor, and the buyer, a limited liability company.
PORTAGE, IND. — Marcus & Millichap has arranged the $25.1 million sale of Willow Creek Estates, a 342-unit apartment complex in Portage, approximately 30 miles southeast of Chicago. The 335,448-square-foot property, located at 5990 Woodland Drive, is 97 percent occupied. Scott Harris and Kyle Shoemaker of Marcus & Millichap represented the seller, an Indiana-based apartment company. They also represented the buyer, an apartment company based in Illinois.
BETHANY, MO. — AmeriBid is conducting a bank-ordered auction of a medium security prison facility in Airpark Industrial Park in Bethany. The auction will take place via a sealed bid format on Wednesday, Jan. 30. The property was built in 2005 on 14.5 acres, and includes 12-foot walls and concrete floors. The building has a modular layout with a central control area in the middle and four large rooms, or pods, branching from it. There are a total of 240 beds. Visit www.ameribid.com for more information.
MILWAUKEE — Dollar General has signed a lease for 9,952 square feet of retail space at Silver Bay Plaza, located at 1935 W. Silver Spring Drive in Milwaukee. Jon Thoresen of Commercial Property Associates represented the landlord, Silver Bay Plaza, in the transaction.
CLEVELAND — The Cleveland Municipal School District's (CMSD) headquarters building will be offered for sale at an open outcry auction Thursday, March 7 at the Sheraton Cleveland Airport Hotel. The 209,359-square-foot property is located at 1380 E. 6th St. in Cleveland. Across the street from the CMSD building is the site for the new $460 million Medical Mart and Convention Center, which is scheduled to open in the summer of 2013. Prospective purchasers should call CBRE Auction Services at 1-800-815-1038.
NEW YORK CITY — Eastern Union Funding recently secured approximately $30 million in financing for two multifamily properties and one retail asset in Queens. The firm arranged a $14 million loan for the refinancing of a 50-unit multifamily property in Ridgewood. Investors Bank financed the seven-year loan. Eastern Union also arranged an $11 million, 25-year loan for the acquisition of a multifamily property in Long Island City. Arbor Commercial Mortgage was the lender. In the third transaction, the firm arranged a $4.6 million refinancing loan for Rite Aid property in Belle Harbor. Amalgamated Bank provided the five-year loan, which amortizes over 30 years.
NEW YORK CITY — Co-developers Taconic Investment Partners and Thor Equities have broken ground on a 55,000-square-foot office and retail property at 837 Washington Street. The office section will include 40,000 square feet. There will also be exterior terraces: 500 square feet on the second floor, 3,500 square feet on the floor above and 3,000 square feet on the rooftop. Occupancy is slated for the fall of 2013.
NEW YORK CITY — An office and warehouse building at 60-62 John St. in Brooklyn's DUMBO neighborhood has sold for $7 million. The 34,200-square-foot property is located between Jay and Bridge streets. Stephen Palmese and Winfield Clifford of Massey Knakal represented both parties in the transaction.