HIALEAH GARDENS, FLA. – Walmart has opened a new 41,000-square-foot Walmart Neighborhood Market at 11800 Hialeah Gardens Blvd. in Hialeah Gardens. Walmart’s first Neighborhood Market opened in 1998 and there are approximately 200 stores nationwide today. The location in Hialeah Gardens is open 24 hours, 7 days a week. The store also offers Site-to-Store, a free service that allows customers to ship online orders free to any Walmart store for pickup.
WILMINGTON ISLAND, GA., AND MYRTLE BEACH, S.C. – Strategic Storage Trust, Inc. (SSTI), a publicly registered non-traded REIT investing in self storage, has acquired two properties in Georgia and South Carolina consisting of approximately 1,050 self storage units for a total of $11.4 million. The sites add approximately 142,690 square feet to SSTI’s rental storage space and will be rebranded under the SmartStop Self Storage name. The acquisitions are Phase II of a three-phase acquisition of a 16-property portfolio that contains more than 1.1 million square feet and approximately 8,560 self storage units in South Carolina, Florida and Georgia. These two properties include 570 units at 4777 Highway 80 in East Wilmington Island and 480 units at 3015 Ricks Industrial Park Dr. in Myrtle Beach.
MONTGOMERY, ALA. – An 843,715-square-foot industrial building on 78 acres in Montgomery’s Westport Industrial Park has sold to HRE Montgomery 2, LLC, which will redevelop and offer space for lease in the property. Located at 4919 Westport Blvd., it is situated just off U.S. Highway 80 between Interstate 65 and the Montgomery Regional Airport. David Barber and Dan Stubbs of Binswanger’s Atlanta office represented the seller, KBT AL LLC.
CHICAGO — Aon has signed a 15-year lease for 396,406 square feet of office space at 200 E. Randolph St. in Chicago. After 14 years as a sublease tenant in the 83-story East Loop Tower, the global risk management firm will enter a new direct lease agreement beginning Dec. 2013. Opened in 1972, the Aon Center features a 205-seat auditorium and views of the city and Lake Michigan. Meredith O'Connor of Jones Lang LaSalle and Greg Gerber of Studley represented the tenant in the transaction. Steve Smith and Mike Curran of Jones Lang LaSalle represented the owner, Piedmont Office Realty Trust.
SIOUX CITY, IOWA — 4th Street Centre LLC has acquired the 10-story Terra Centre in downtown Sioux City. Arlene Curry and Ellen Kaplan of NAI LeGrand & Co. represented the seller, CF Industries, in the transaction. CF Industries is an international fertilizer producer, which had purchased the property as part of its multi-million dollar acquisition of Terra Industries.
FRIDLEY, MINN. — Marcus & Millichap has arranged the $1.6 million sale of Oak Hill Apartments, a 34-unit multifamily property in Fridley. Josh Talberg of Marcus & Millichap represented the seller, a private investor. Talberg and Mox Gunderson, also of Marcus & Millichap, represented the buyer, a private investor.
KENT, OHIO — Two new tenants will join The Cascades of Brimfield in Kent this January. Petco has signed a lease for 12,500 square feet of space and Hibbett Sporting Goods will occupy 5,000 square feet of space. The retailers will join tenants such as Kohl's, Lowe's, Marshalls and Dollar Tree. Carla Massara of Kowit & Passov Real Estate Group represented the landlord in both transactions.
O'FALLON, ILL. — Balke Brown Transwestern has opened Parkway Lakeside Apartment Homes on Green Mountain Roade in O'Fallon. The $29 million community consists of 21 two-story buildings containing 232 units. One-site services include car detailing, resident valet and the Posh Pet Spa. Amenities include a saltwater swimming pool and wellness center. Rents range from $945 to $1,800 per month. AFL-CIO Housing Investment Trust financed the project via a $26.1 million FHA-insured construction and permanent mortgage loan.
MELVILLE, N.Y. — NorthMarq Capital has arranged a $24 million refinancing loan for the Hilton Garden Inn, a 178-room hotel in Melville. The loan represents the second phase of a 350-room hotel development, which is owned by the principals of the borrower, Melville Equity Partners. Phase I of the project opened in 2004. Ernest DesRochers of NorthMarq arranged the 10-year loan through a CMBS lender.
BOSTON — Merrimack Pharmaceuticals, a biopharmaceutical company, has renewed and expanded its laboratory and office lease to 109,312 square feet at One Kendall Square, Building 700 in Cambridge. The company is expanding its space by 25,000 square feet. The One Kendall Square campus consists of nine buildings and the site is a short walk to the MIT campus. Joe Flaherty, Jim Elcock, Tucker Hansen and Ben Coffin of Colliers International represented the tenant in the transaction. J. Duncan Gratton of Cassidy Turley FHO represented the landlord, The Beal Cos.