FORT COLLINS, COLO. — The Whole Foods Center, a 68,334-square-foot, two-tenant retail center in Fort Collins, has sold to a private real estate fund advised by Crow Holdings Capital Partners. The fund also assumed an existing CMBS loan. The property is located at 2201 South College Ave. It is fully leased to Whole Foods and Wilbur’s Total Beverage. The seller, a private investor, was represented by HFF’s Bryan Ley, Barry Brown and John Crump.
NAPLES, FLA. — FTC Naples has sold the 161,000-square-foot Fifth Third Center, located at 999 Vanderbilt Beach Road in Naples, for $49.92 million. The property is the largest office building in Collier County. Premier Commercial represented the buyer in the transaction. Craig Timmins and Clint Sherwood of Investment Properties Corp. represented the seller.
NASHVILLE, TENN. — A joint venture between Adler Real Estate Fund and Kawa Capital Management has purchased the 135,653-square-foot Greenbriar Business Park, an office and flex property located at 2525 Perimeter Place Drive in Nashville. The property is 88 percent leased. Tenants include Honeywell International, Diebold, Dataium and Neopost USA. Steve Preston and Douglass Johnson of CBRE Group represented the seller, KBS REIT I, in the transaction. HFF secured a primary mortgage through SunTrust Bank on behalf of Adler Real Estate Fund.
ROCK HILL, S.C. — Weston Inc. has sold a 318,000-square-foot industrial building, located at 2751-2805 Commerce Drive in Rock Hill, to Rock Hill Commerce LLC for $5.15 million. The property is 58 percent leased to two tenants. Lester Osborn and Scott Hensley of Piedmont Properties/CORFAC International represented the seller in the transaction. Herb Krumsick of J.P. Weigand & Sons and Michael DiScala of M.F. DiScala & Co. represented the buyer.
GREENVILLE, S.C. — Four Springs Capital Trust has acquired a 14,465-square-foot Walgreens, located in Greenville, for $5.62 million. The initial 25-year lease on the property expires on Jan. 31, 2030. Additionally, there are 10 five-year renewal options at the end of the initial lease term.
KISSIMMEE, FLA. — NorthMarq Capital has arranged $20.55 million in first mortgage refinancing for the 384-unit Lake Tivoli Apartments, located at 851 Lake Tivoli Blvd. in Kissimmee. David Schofield and Robert Rothaug of NorthMarq secured the 10-year loan with a 30-year amortization schedule through Freddie Mac on behalf of the borrower, Lake Tivoli Apartments LLC.
CHICAGO — Related Cos. has secured a $115 million construction loan that will enable the developer to build an apartment tower at 111 W. Wacker Drive, which has been sitting unfinished for years. U.S. Bank provided the loan to finance construction of the 504-unit building. Originally planned to be the fifth tallest building in Chicago, the prior development reached a mere 25 stories before the economic recession halted construction in 2008. In July 2011, Related acquired the building and announced plans to transform the tower into a 60-story luxury rental tower. Demolition is currently under way and vertical construction is expected to start in early 2013 with completion by the spring of 2014.
MERRIAM, KAN. — IKEA, the Swedish home furnishings retailer, plans to open a new 349,000-square-foot store in Merriam, eight miles southwest of Kansas City, in the fall of 2014. The store will be built on 18 acres — to be purchased from DDR Corp. — along the eastern side of I-35 at the Johnson Drive exit. The site will also include a two-level parking structure. IKEA Merriam will feature 10,000 exclusively designed items, 50 inspirational room settings, three model home interiors, a children's play area and a 450-seat restaurant.
CHICAGO — Polsinelli Shugart's Chicago office is expanding to a third floor in the Chicago Title and Trust Building at 161 N. Clark St. The law firm will gain an additional 18,000 square feet of space, which is part of the company's growth plan. Polsinelli moved into the property in 2009, originally occupying 29,000 square feet on the 41st and 42nd floors. The company will now occupy a total of 60,000 square feet in the building. Cushman & Wakefield represented Polsinelli in the transaction.
CHAMPAIGN, ILL. — A fully occupied, 10,000-square-foot retail site, located at 1902 N. Prospect Ave. in Champaign has sold for $4.2 million. The property is occupied by AT&T and Aspen Dental, both of which recently signed 10-year leases for the space. AT&T occupies 6,543 square feet while Aspen Dental occupies 3,205 square feet. The building is located at the intersection of I-74 and North Prospect Avenue, next to Market Place Mall. Elli Klapper and Charles Berger of CBRE Group represented the buyer in the transaction.