TALLAHASSEE, FLA. — The $2.4 million, 9,000-square-foot Midtown Centre, a retail property at 1321 Thomasville Rd. in Tallahassee’s Midtown submarket, is under construction. Osborne & Co. is developing Midtown Centre and Omni Construction is the project contractor. CRA Architects is designing the retail property to complement the nearby Los Robles neighborhood’s architecture.
WASHINGTON, D.C. — The Woodner, a 1,072-unit Class B multifamily property in Washington, D.C.’s Mount Pleasant neighborhood, received $74.75 million in financing from Berkeley Point Capital LLC. Two 13-story buildings connected by a lobby comprise The Woodner at 3636 and 3640 16th St. The buildings are owned by separate but related entities and the transaction was underwritten as two separate loans. Proceeds will be used to pay off six existing loans maturing in June 2013 and to provide additional funds for upgrades to the art deco-style common areas. Rob Cantizano of Berkeley Point Capital’s Bethesda, Md. office led the transaction.
NEW YORK CITY — New York City-based Garrison Investment Group has purchased a 13-property portfolio of neighborhood and community shopping centers totaling 1.7 million square feet in Ohio and Indiana. The seller is Kimco Realty Corp. The properties feature prominent retailers such as T.J. Maxx, Giant Eagle, Kroger and Home Depot. Cincinnati-based Select Strategies will manage and lease the properties. The portfolio is 90 percent leased.
CHICAGO — Sovran Acquisition has acquired Safe & Secure Storage, a 63,910-square-foot self-storage facility in Chicago. The property is located at 20765 W. Grass Lake Road and will be rebranded as Uncle Bob's Self Storage. The property contains 433 units, 110 of which are climate controlled, and 27 parking spaces. Sean Delaney of Marcus & Millichap represented the seller, a private investor, in the transaction. Angelo Tomasello, Tony Rider, Peter Weimer and Jonathan Attea of The Locke Group represented the buyer.
OCONOMOWOC, WIS. — Wangard Partners has started construction on the second phase of The Preserve at Prairie Creek, an apartment community in Oconomowoc. The first phase, completed earlier this year, consists of 102 apartments. Phase II will add 126 apartments in seven new buildings. The buildings will feature luxury kitchens, walk-in closets and include access to the community clubhouse. The community borders a nature preserve, which is home to deer, cranes and other wildlife. The community also features a recreational trail.
CRYSTAL LAKE AND NORTHBROOK, ILL. — Title Boxing Club is expanding its presence in Chicagoland after signing a lease for 7,832 square feet of retail space in Randall Plaza, located at 435 Angela Lane in Crystal Lake. Ben Andrews and Andrew Gomez of Sperry Van Ness represented the tenant in the transaction. Additionally, the company inked a lease for 6,836 square feet at Brookside Plaza in Northbrook. Title Boxing Club has locations currently operating in Buffalo Grove, Schaumburg and Naperville, as well as multiple states nationwide.
CHICAGO — HFF has arranged $10 million in financing for the remaining 168 units of Woodland Park, a 240-unit fractured condominium complex in Chicago. Christopher Vittetoe and Matthew Schoenfeldt led the HFF team that secured the 10-year, fixed-rate loan through RBS Global Banking & Markets. The Luzzatto Co. is the borrower. Woodland Park is located at 606 Woodland in the Bronzeville neighborhood of Chicago. The property has three residential buildings that are 94 percent leased.
WHITE PLAINS, N.Y. — A joint venture between Inland Diversified Real Estate Trust and affiliates of Cappelli Group, acquired the majority interest in City Center Retail, a 381,905-square-foot mixed-use property in White Plains. The sale was valued at approximately $166.4 million. City Center is anchored by ShopRite Supermarkets, Nordstorm Rack and New York Sports Club. The property also contains 24 apartment units. City Center is adjacent to the Ritz-Carlton Hotel and the Trump Tower at City Center. The joint ventures includes 99-year air rights over the apartments and parking garage portion of City Center. Jeff Dunne, Steven Bardsley and David Gavin of CBRE Group represented Cappelli Group in the transaction.
NEW YORK CITY — Swedish discount retailer Hennes & Mauritz AB has signed a lease to open a 42,500-square-foot store at 4 Times Square. The three-floor store will include collections for ladies, men and children. The company will also install H&M signage at the top of the building that measures 70 feet by 70 feet. H&M is filling retail space vacated by ESPN Zone approximately two years ago. The company plans to continue its expansion in the New York market and announced it will open a store at The Shops at Columbus Circle in the Time Warner Center at the end of this year. H&M will also open a 57,000-square-foot store at 589 Fifth Ave., which will be the company's largest outlet in the world.
NEWARK, DEL. — A fund managed by Sentinel Real Estate Corp. has acquired The Apartments at Pike Creek, a 264-unit garden-style complex in Newark. The complex is situated on 19 acres and contains 11 three- and four-story buildings. Amenities include a swimming pool, tennis court, fitness center with sauna and a car care center. The community is located near I-95 and is 40 miles south of Philadelphia. Karen Iman, Brian Whitmer, Andrew Merin and Anthony Liberto of Cushman & Wakefield represented the seller, Henderson Global, in the transaction. They also procured the buyer.