LAS VEGAS — New Vista has broken ground on its first medical clinic and senior home for intellectually challenged individuals in the northwest area of Las Vegas. This will be the first medical clinic in Nevada that has been specifically designed to work with intellectually challenged individuals. It will be located at 7875 N. Rainbow Blvd. The six-phase development will house six individuals and will provide medical care to the Southern Nevada community. New Vista has partnered with Touro University Nevada on this project, which will be developed on 15 acres of land donated by the Gilcrease brothers.
ESCONDIDO, CALIF. – The 14-unit Villa Del Mar apartments in Escondido has sold to GSBV USA, LLC for $2.55 million. The community is located at 438 North Fig Street. It was fully leased at the time of sale. The buyer was represented by Jose Luis Bouvet, Jr.of Perry Commercial Real Estate. The seller, 938 N. Fig LLC, was represented by CBRE’s Merrick Matricardi, Jim Neil and Eric Comer.
CARY, N.C. — Raleigh, N.C.-based Dominion Realty Partners LLC is developing the 205-unit Tryon Place Apartments at Cary Parkway<
ROCK HILL, S.C. — A 315,000-square-foot high bay distribution facility, located at 2751-2805 Commerce Dr. in Rock Hill, has sold for $5.1 million to a Midwestern life insurance company in partnership with <
CAMBRIDGE, MD. — A 157,000-square-foot light manufacturing facility located at 807 Woods Rd. in Cambridge has traded. The industrial property is situated on 10 acres and was originally known as Airpax. Henry Hanna of Sperry Van Ness – Miller Commercial Real Estate represented both the seller, Sensata Technologies, and the buyer, JPJ807 Co. Sean Lynch of Jones Lang LaSalle also represented the seller. The buyer plans to redevelop and lease the property to businesses seeking manufacturing space and office space.
ORLANDO, FLA. — The 315-room Westin Imagine Hotel, located adjacent to the Orange County Convention Center at 9501 Universal Blvd. in Orlando, has sold to ERGS WI Orlando REO LLC. A bank group named REDUS Imagine LLC foreclosed on the hospitality property earlier this year. Daniel Peek, Max Comess, Michael Weinberg, Paul Hsu and Cyrus Vazifdar of HFF represented the seller, which was legally represented by the Orlando law office of Lowndes, Drosdick, Doster, Kantor & Reed. The Pittsburgh, Pa., office of Eckert Seamans Cherin & Mellott and the Miami office of Greenberg Traurig represented the buyer. Pyramid Hotel Group operates the Westin Imagine Hotel and will remain in place.
CHICAGO — Marcus & Millichap has arranged the $2.3 million sale of a 12-unit apartment property at 1535-1537 W. Addison St. in Chicago's Lakeview neighborhood. The property is also a few blocks from two popular commercial districts: Lakeview-Wrigleyville and the Southport Corridor. Kyle Stengle of Marcus & Millichap represented the seller, a local partnership. He also represented the buyer.
ITSACA, ILL. — Lemko Corp., a global software maker for the mobile wireless network, has moved its corporate headquarters to Itsaca. The company signed a long-term lease for 22,347 square feet at One Pierce Place after outgrowing its previous space at 1700 E. Golf Road in Schaumburg. The new lease also provides the company an opportunity to expand into contiguous space within the same building over the next several years. Jim Rose, Gregg Raus and Mark Kolar of Jones Lang LaSalle represented the tenant in the transaction.
ATLANTA — AdCare Health Systems has agreed to sell six assisted living facilities in Ohio for $22.3 million to a long-term Ohio operator of assisted living facilities. The transaction is expected to close before the end of the year. The six communities include a total of 196 units and generate an estimated $8.9 million in gross annualized revenue. The care provider will use the proceeds from the sale to finance its ongoing mergers and acquisitions program, which is focused on skilled nursing acquisitions.
CANTON, OHIO — Michigan Best Land has acquired a 176,731-square-foot industrial facility in Canton. The property is located at 40500 Van Born Road. Steve Gordon, Brad Viergever and Mark Hamway of Signature Associates represented the seller, American Equity.