INDIANAPOLIS — Johnson Capital has arranged an $11.2 million permanent loan for a Class A 148-unit multifamily property in Indianapolis. The garden-style complex is approximately 10 years old. The units are spread across more than 20 buidlings and amenities include a swimming pool and fitness center. The property is owned by a Midwest-based commercial real estate company. Kent Carpenter of Johnson Capital arranged the 10-year loan through Fannie Mae.
LYNDHURST, OHIO — Granite City Food & Brewery has leased 10,921 square feet of space at Legacy Village in Lyndhurst. The full-service restaurant and brewery will join tenants such as Cheesecake Factory and Bar Louie in early 2013. This is the company's second location in Ohio, with 28 other locations in the Midwestern states. Tori Nook of Kowit & Passov Real Estate Group represented the tenant in the transaction.
TOLEDO, OHIO — The Historic Hillcrest, a nine-story apartment building in Toledo, has sold for $2 million. The property was originally built as a hotel in 1927. In 1999, the building underwent a $12 million conversion to include 106 apartment units, with floor plans that average 1,025 square feet. The building also contains 8,000 square feet of vacant commercial space on the street level. Cary Belovicz of Commercial Property Advisors represented the seller in the transaction.
PERTH AMBOY, N.J. — The Shoppes at Victory Village, a 32,349-square-foot mixed-use property in Perth Amboy, has sold for $6.7 million. The property is located at 553-559 Sayre Ave. and includes 15 apartment units and 18,000 square feet of retail. Tenants include 7-Eleven, Dollar General and Popeye's. Ben Sgambati, Alan Cafiero and David Cafiero of Marcus & Millichap represented the seller, a regional developer, in the transaction. They also secured the buyer, a partnership.
SPRINGFIELD, MASS. — Stag Industrial Holdings has acquired Westover Road, a warehouse and distribution building in Springfield for $8.3 million. The seller is Brookwood Financial Partners, which purchased the property in 2010 for $4.5 million. The property, located at 2189 Westover Road, is fully occupied by Big Y, a supermarket chain. Jim Thompson of Thompson Partners represented the buyer in the transaction. Brookwood was self-represented.
WESTFORD, MASS. — Colliers International has arranged an $18.6 million loan to refinance The Michelson Farm – Westford Technology Park, Buildings 5 and 8 in Westford. The buildings are located at 7 and 9 Technology Park Drive and total 230,000 square feet. John Broderick negotiated the long-term loan on behalf of the borrower, The Gutierrez Co., which developed the property in 1996. Blue Hills Bank provided the loan.
LIMERICK, PA. — MVD Entertainment has purchased a 30,000-square-foot warehouse and office property at 203 Windsor Road in Limerick. The audio visual distribution business is relocating from Oaks, Pa. The property is located inside the Limerick Airport Business Center and offers quick access to Route 422. Neil Shupak and Justin Bell of Newmark Knight Frank Smith Mack represented the buyer in the transaction. MVD plans to move into the space in January.
TULSA, OKLA. — Santa Fe, N.M.-based Rosemont Realty has acquired One Warren Place and Two Warren Place, the two largest suburban office buildings in Oklahoma. The two buildings are 96 percent leased and are located in the 52-acre Warren Place office complex at 6100 S. Yale in Tulsa. The 20-story One Warren Place spans 466,424 square feet, and the 19-story Two Warren Place spans 487,085 square feet. Rosemont purchased the two office towers from Parmenter Realty Partners. Rosemont Realty Services will provide asset management, leasing, sales and property management services for the office towers.
HOUSTON — Charlotte, N.C.-based Crescent Resources has acquired 993 acres in northeast Houston for a new master-planned community, which will include 2,259 single family houses, 540 multifamily units, 50 acres for retail/commercial use and a 40-acre site for a future school that will be part of the Humble Independent School District. Development is slated to begin next year and Phase I of the single family homesites is expected to finish in mid-2014.
ADDISON — AMC Theatres has partnered with Lincoln Property Co. and the Retail Connection to bring a new theater to the redevelopment of Village on the Parkway in Addison. The AMC Village on the Parkway 9 is slated to break ground in the spring of 2013 and open in 2014. The new theater will offer a MacGuffins bar, several outposts serving concessions and every seat is a leather recliner. The redevelopment of Village on the Parkway includes a Whole Foods location slated to open in 2013.