STERLING, VA. — Orbital Sciences Campus, a three-building, 337,228-square-foot Class A office complex, has traded for $85.6 million in Sterling. A fund advised by Prudential Real Estate Investors (PREI) sold it to Select Income REIT free and clear of existing debt. The property is situated at the intersection of Warp Drive and Route 28 North approximately 29 miles northwest of Washington, D.C. The property, which was built in 2001, is 100 percent leased on a long-term basis to Orbital Sciences Corp. and serves as the company’s global headquarters. Amenities include an outdoor patio, conference facilities, cafeteria, fitness center, basketball court and multiple running and biking trails. Stephen Conley, Jim Meisel, Dek Potts, Andrew Weir and Matt Nicholson of HFF represented the seller.
DURHAM, N.C. — A joint venture between Charlotte, N.C.-based Grubb Properties and Philadelphia-based Rubenstein Partners has acquired a two-building, 193,000-square-foot office portfolio in the Imperial Center office park in Durham. The two buildings are located adjacent to the Research Triangle Park at 1015 and 1035 Swabia Court, and have been occupied by a corporate tenant since construction in 1987 and 1988. Grubb Properties will oversee property management and construction management for the buildings and will lease the 1015 Swabia Court office building. The joint venture will partner locally with Cassidy Turley’s lab and life science team to market the 1035 Swabia Court office building, which includes a mix of office and laboratory space.
WASHINGTON, D.C. — The Aventine of Alexandria, a 15-story, 574-unit multifamily community at 2701 Park Center Dr. in Washington, D.C., has sold. The building was originally built in 1973 and has been recently renovated. It features units averaging 1,027 square feet and includes a resort-style pool, fitness center, media room, business center, dog park and concierge service. David Nachison, Alan Davis and Brenden Flood of HFF represented the seller, a separate account client advised by Invesco Real Estate. Partners Group, a global private markets investment management firm, and an affiliate of Bainbridge Cos. LLC purchased the multifamily property.
DURHAM, N.C. — Dougherty Mortgage LLC has closed a $17.25 million loan for the acquisition of Arbor Walk, a 115-unit independent living and assisted living property in Durham. The seven-year term loan was arranged through Dougherty Mortgage’s Maryland office for CSH Walk LLC.
WASHINGTON, D.C. — Washington, D.C.-based Greysteel, a real estate investment services firm, has brokered the $1.6 million sale of 1702 16th St. N.W. in Washington, D.C. The eight-unit boutique apartment building in Washington, D.C.’s Dupont Circle sold to an unlisted cash purchaser. Ari Firoozabadi, Kyle Tangney, John Mullen, Henry Schuldinger and Caleb Brown of Greysteel represented the seller, Kerner Development LLC.
TROY, MICH. — Canada-based Slate U.S. Opportunity (No. 1) Realty Trust has acquired Cambridge Crossings, a 238,963-square-foot community shopping center in Troy. The center is anchored by Walmart and additional tenants include Marshalls, Dollar Tree and Bailey's Pub & Grille. Walmart is currently expanding its store into a supercenter format. The center is located two miles from downtown Birmingham. Ben Wineman of Mid-America Real Estate Corp. and Daniel Stern of Mid-America Real Estate-Michigan Inc. represented the seller, a joint venture between LaSalle Investment Management and Kimco Realty, in the transaction.
COLUMBUS, OHIO — A joint venture between Driftwood Hospitality Management and Apollo Global Real Estate Management has purchased the DoubleTree Suites by Hilton Columbus Downtown. The hotel features 194 guestrooms and 2,600 square feet of event space. The property is within walking distance of the State Capitol, Ohio Supreme Court and Columbus City Hall. The property will continue to operate under the DoubleTree flag. The purchase marks the fifth hotel acquisition between the joint venture.
GREEN BAY, WIS. — Rubicon US Reit has purchased Bellevue Town Center, a 74,270-square-foot grocery-anchored retail center in Green Bay for $12 million in an off-market transaction. The fully occupied center is anchored by a 64,470-square-foot Copps grocery store. The center also includes seven small shop spaces totaling 9,800 square feet. The property is located at 2064 Lime Kiln Road. Greg Dietz and Danny Spitz of Baum Realty Group represented the buyer in the transaction. The seller was Outlook Development Group.
ELGIN, ILL. — Midwest Elite Gymnastics Academy (MEGA) is relocating from South Barrington to an 18,680-square-foot facility in Elgin, directly off Interstate 90. MEGA is a training facility for children and young adults for fun, fitness seekers and serious competitors. This year, MEGA included 25 individual state champions. The new gym will open this January. Olivia Czyzynski and Amy Kelly of Sperry Van Ness Advisors represented the tenant in the transaction.
JERSEY CITY, N.J. — Two tenants took advantage of state incentive programs designed to attract and retain companies in New Jersey, leasing a total of 740,000 square feet at the Pulaski Distribution Center in Jersey City. Online grocer Peapod signed a lease for 345,000 square feet. The firm was awarded approximately $34.6 million in Urban Transit Hub Tax Credits approved by the New Jersey Economic Development Authority (NJEDA). Imperial Bag & Paper Co. signed a lease for 395,000 square feet. The firm, which will relocate from a site in Bayonne, N.J., received $29.1 million in Grow New Jersey credits. Robert Kossar, David Knee, Blake Chroman and Christopher Hile of Jones Lang LaSalle represented the property owner, Prologis, in the transactions.