LEESBURG, VA. — A joint venture between Federal Capital Partners (FCP) and Kettler has purchased a majority interest in The Fields of Leesburg apartment complex. The Fields of Leesburg is a 404-unit garden apartment complex at 75 Plaza St. in Leesburg. The property was originally built in the 1970s in two phases and participates in an affordable housing tax credit program.
CHICAGO — Specialty's Cafe & Bakery has signed a lease for 6,256 square feet of retail space at the Inland Steel Building, located at 77 S. Dearborn St. in Chicago. San Francisco-based Specialty's, which has existing downtown Chicago locations at 525 W. Monroe St. and 191 N. Wacker Drive, is projected to open the Inland Steel location in March 2013. John Vance of Stone Real Estate represented the owner, Capital Properties, in the transaction. Michael Havdala and Brenton Schrader of HSA Commercial Real Estate represented the tenant. SKB Architects is responsible for the design of the project and Turner Construction will serve as the general contractor.
RICHFIELD, MINN. — Marcus & Millichap has arranged the $326,500 sale of 7615 18th Ave. S., a 7-unit apartment building in Richfield. Joe Talberg of Marcus & Millichap represented the seller, a private investor. He also represented the buyer, a private investor.
TROY, MICH. — GLS Holding Co. has acquired a 32,700-square-foot industrial property at 1712-1730 Thunderbird Drive in Tory. Kris Pawlowski and Paul Hoge of Signature Associates represented the seller, Irene Vachon Trust, in the transaction.
DARIEN AND NORWALK, CONN. — Aviv REIT has opened two new assisted living facilities in Darien and Norwalk for $32 million. The properties are triple-net leased to and operated by Maplewood Senior Living. The Darien property consists of 66 units and the Norwalk property includes 84 units. Maplewood operates five assisted living and memory care facilities with 407 units in Connecticut.
ROCHESTER, N.Y. — Marcus & Millichap has arranged the $4.6 million sale of four Canadaigua National Bank & Trust properties, totaling 13,671 square feet in suburban Rochester. Laurie Ann Drinkwater and Seth Richard of Marcus & Millichap represented the seller, a limited liability company.
NEW YORK CITY — Developer John Lam has acquired a development site at 1227 Broadway in the Midtown West neighborhood of Manhattan for $16 million. The site is a triangularly shaped parcel that totals 5,412 square feet. The zoning designation allows for 51,420 square feet of building space. The site currently contains two buildings and a parking lot. The buyer recently purchased the buildings at 1205 and 1225 Broadway and the new acquisition completes the entire blockfront. The new owner plans to use the site for the construction of one or two hotels. Bob Knakal and John Ciraulo of Massey Knakal represented the seller.
LYNDHURST, N.J. — Seagis Property Group has acquired two multi-tenant warehouses totaling 270,000 square feet in Lyndhurst. The buildings, located at 165 and 205 Chubb Ave. in the Meadowlands Corporate Center, are in close proximity to Route 3, Route 21 and Interstate 80. The buildings are 91 percent leased.
LOGAN, N.J. — A partnership between Dermody Properties and Stonemont Financial Group are developing a 70,000-square-foot facility for lease to national organic food distributor Albert's Organics. Dermody is serving as the industrial developer and operating partner and Stonemont is serving as the financial partner. The facility, which will serve as a distribution center, will be located at LogistiCenter at Logan, located at 1155 Commerce Blvd. Construction is slated for completion in April 2013.
ODESSA — SCC Healthcare Group has broken ground on the $10 million, 43,000-square-foot Madison Medical Resort, a post-hospital recovery, skilled nursing and long-term care community located in Odessa. The facility, which is slated for a summer 2013 opening, should create 150 new jobs. The property will feature personal laundry services, a courtyard, private dining room and large flat-screen TVs in every room.