COMPTON, CALIF. – FedEx has signed a seven-year lease extension for its nearly 158,000-square-foot warehouse/distribution building in Compton. The 62,250-square-foot space is located at 201 W. Manville Street. FedEx was represented by Jeff Kernochan of Fischer & Company. The landlord, 201 W. Manville LLC, was represented by Maury Gentile and Sean O’Donnell of Grubb & Ellis.
WASHINGTON, D.C. — MassCourt East End, a 371-unit luxury multifamily community in Washington, D.C.’s Mount Vernon Triangle neighborhood, has received $92.6 million in financing. The property at 300 Massachusetts Ave. is 96 percent leased and features studio, one- and two-bedroom units. Kevin MacKenzie and Cary Abod of HFF secured the financing on behalf of the borrower, TIAA-CREF, through M&T Realty Capital Corp. and Fannie Mae. TIAA-CREF used the financing to acquire MassCourt East End.
ATLANTA — The 212-unit Colonial Homes, a multifamily community built in 1947 in Atlanta’s Buckhead submarket, has been sold by Pope & Land to Pollack Shores Real Estate Group for $15 million. Bill Shippen and John Weber of Atlanta-based ARA and Rich Arroll of Major & Arroll LLC represented Pope & Land. Pollack Shores Real Estate Group will tear down and redevelop a newly zoned portion of the Colonial Homes site into a four- or five-story apartment building.
WASHINGTON, D.C. — Urban Investment Partners (UIP) has acquired the 21-unit The New Hampshire House, an apartment community, for $2.1 million in Washington, D.C. UIP plans to reposition the property, which is located on top of the Georgia Avenue/ Petworth Metro Station at the corner of New Hampshire Avenue and Quincy Street. Marty Zupancic of Marcus & Millichap’s Washington, D.C. office represented the seller, a private investor, and secured UIP as the buyer.
GERMANTOWN, MD. — Blacksburg, Va.-based Intrexon, a biotech company that produces products across multiple industries like human therapeutics, protein production, industrial products, agricultural biotechnology and animal science, has signed a 55,000-square-foot lease for laboratory and office space at 20358 Seneca Meadows Pkwy. in Germantown. Rockville, Md.-based Scheer Partners represented Intrexon in the lease transaction. Germantown-based Minkoff Development is the landlord for 20358 Seneca Meadows Pkwy.
NEW LENOX, ILL. — A joint venture between Focus Health Partners and Artemis Real Estate Partners has acquired Paradise Park of New Lenox, an 80-unit assisted living and memory care community in New Lenox, for $9.8 million. The community includes 48 assisted living units and 32 memory care units in five cottages. ARA National Seniors Housing Group represented the buyer in the transaction.
CHICAGO — The Boulder Group has arranged the $1.6 million sale of a net-leased Dollar General property at 5701 Belmont Ave. in Chicago. The 9,500-square-foot property was renovated in 2011 and Dollar General has 10 years remaining on its lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a high-net-worth individual from Chicago, in the transaction. The buyer was a private partnership.
LENEXA, KAN. — Cellnet Technology Inc., a business services company, has signed a lease for 16,108 square feet of office space at 11146 Thompson Ave. in Lenexa. Larry Larsen of CBRE Group represented the tenant in the transaction. The landlord is HRPT Lenexa Properties Trust.
ROCKY HILL, CONN. — KS Partners has acquired a 620,327-square-foot office portfolio in Rocky Hill for $65 million. The eight-building portfolio consists of two office complexes: Corporate Ridge and I-91 Tech Center on Brook Street. Corporate Ridge includes 500 Enterprise, 55 Capital Boulevard and 175 Boulevard. The five remaining single-story buildings at I-91 Tech Center total 113,000 square feet of office and flex space. The portfolio was 87 percent leased at the time of sale and tenants include Nationwide Insurance, AT&T and United Healthcare. The seller was New Boston Fund.
PHILADELPHIA — Crews have broken ground on the $34 million Courtyard by Marriott at the Philadelphia Navy Yard. Ensemble Hotel Partners is developing the 172-room hotel, which is the first for the Navy Yard Business Park. The Navy Yard is home to more than 120 companies, including Urban Outfitters, Tasty Baking Co. and Flowers Foods. The new 90,000-square-foot hotel will feature 2,000 square feet of meeting space, an upscale restaurant and a fitness center. Erdy McHenry Architects is designing the property and INTECH Construction will serve as the design-build contractor. The property will be at the corner of Rouse Boulevard and Intrepid Avenue.