TYSONS CORNER, VA. — Hyatt Regency, an affiliate of Hyatt Hotels Corp., will manage a 17-floor, 300-room hotel within Tysons Corner Center, a mixed-use development in Tysons Corner. The Hyatt Regency at Tysons Corner Center will open in 2014. It will include an executive conference center, a restaurant, a bar and lounge, a pool, a fitness center, and 15,500 square feet of meeting and event space. The hotel is part of a redevelopment of Tysons Corner Center that will include a 22-story Tysons Tower office building and a 28-story apartment building. Macerich, a real estate investment trust, has owned Tysons Corner Center since 2005.
VERO BEACH, FLA. — A 15,525-square-foot Walgreens has sold in Vero Beach. Vincent Knipp and Chance Hales of Marcus & Millichap’s Fort Worth, Texas, office represented the seller, a California-based individual trust. Knipp and Hales also procured the buyer, a New York-based partnership. Kirk Felici of Marcus & Millichap assisted in the closing and was the firm’s Florida broker of record.
GENEVA, ILL. — Duke Realty Corp. has expanded its industrial building at 1800 Averill Road in Geneva by 163,214 square feet to accommodate the needs of Peacock Engineering Co. The packaging company will continue to lease the existing 243,000-square-foot building, as well as the new expansion space. Peacock has also renewed its lease at 720 Center Ave., a 360,648-square-foot Duke Realty building in Carol Stream. Brian Kling of Colliers International represented the tenant in the lease transactions. Duke Realty was self-represented by Susan Bergdoll.
SPRINGFIELD AND STERLING HEIGHTS, MICH. — Stag Industrial has acquired a 217,000-square-foot warehouse and distribution facility in Springfield. In a separate transaction, the company also purchased a 108,000-square-foot light manufacturing and warehouse facility in Sterling Heights. The deals cost a total of $13.4 million. The Springfield building is fully leased to Big Y Foods, which uses the building as its main distribution center for dry goods. The Sterling Heights property is fully leased to Sodecia North America, which supplies components to the automotive industry.
LIVONIA, MICH. — Promanas has acquired a 184,020-square-foot industrial building at 12001 Farmington Road in Livonia. Steve Gordon of Signature Associates represented the seller, Quality Metalcraft Inc., in the transaction. Bruce Morrison, also of Signature Associates, represented the buyer.
ARLINGTON HEIGHTS, ILL. — Cohen Financial has arranged a $5.5 million loan for the refinancing of Commerce Pointe I, an office building in Arlington Heights, a Chicago suburb. Located at 3800 N. Wilke Road, the 90,000-square-foot building is 22 percent occupied. Don Trossman of Cohen Financial secured the three-year loan through A10 Capital. The loan will also provide funds for future tenant improvements and leasing commissions for new leases. The borrower is a Chicago-based client of Cohen Financial.
STILLWATER, MINN. — A 19,250-square-foot industrial property at 1790 Washington Ave. in Stillwater has sold to a limited liability company for $1.8 million. The property is located off Highway 36. Two long-term tenants have occupied the property since its construction. Michael Ahles of Marcus & Millichap represented the seller, a private investor. He also secured the buyer.
NEW BEDFORD, MASS. — Carter Validus Mission Critical REIT has acquired the three-story Vibra New Bedford Hospital in New Bedford for $26 million. The property consists of a 70,657-square-foot long-term acute care hospital. Vibra Healthcare will continue to operate the property under a 16-year, triple-net lease agreement.
BURLINGTON, N.J. — Hamshire Real Estate Cos. has purchased Town Crossing Shopping Center, a 91,494-square-foot power center at 2703 Route 541 in Burlington, for $13.5 million. The center was built in 1999 and tenants include Dick's Sporting Goods, Office Max, TGI Friday's and IHOP. Brad Nathanson of Marcus & Millichap represented the seller, J.S. Hovnanian and Sons. He also represented the buyer.
WALTHAM, MASS. — New Boston Fund has completed renovations at Watermill Center, a 206,634-square-foot Class A office building in Waltham. The company spent three months upgrading the building's entrance and modernizing the main lobby. The work included carpet replacement, new wall coverings and landscaping upgrades. New Boston also installed a new revolving door, floor tiles and accent lighting.