MIAMI — Terreno Realty Corp. has acquired two industrial buildings totaling 138,000 square feet, located at 7500-7600 NW 26th St. in Miami, for $12.1 million. The properties are fully leased to one tenant. As part of the transaction, the company assumed a mortgage loan with a total principal amount of approximately $6.2 million.
BOYNTON BEACH, FLA. — Capital Advisors has arranged $12.04 million in acquisition financing for the 151,459-square-foot Shoppes at Boynton, a community shopping center located at the corner of Congress Avenue and Gateway Boulevard in Boynton Beach. Ross Dress for Less, Tuesday Morning and Deal$ anchor the center. Cooper Willis of Capital Advisors arranged the seven-year loan with a 30-year amortization schedule through Life Insurance Co. of the Southwest on behalf of the borrower, Boynton FCA.
MONROE, OHIO — IDI, an Atlanta-based developer, has acquired the Corridor 75 Premier Logistics Park in Monroe during a sheriff's sale, for a reported $13.3 million. The property includes 300 acres of land and a vacant 651,592-square-foot industrial building. IDI plans to rename the property Park North at Monroe and develop an additional 4.1 million square feet of logistics buildings on the property. The buildings will range from 150,000 square feet to more than 1.2 million square feet. The business park is located near the intersection of State Route 63 and I-75.
LANSING, MICH. — Guitar Center has signed a lease for 17,700 square feet at The Frandor Shopping Center in Lansing. The instrument retailer will open its doors in the spring of 2013. Guitar Center will join anchor tenants such as Sears, World Market and Kroger. Lormax Stern Development managed the deal.
ST. ANTHONY, MINN. — Dougherty Mortgage has arranged a $34 million loan for the refinancing of The Landings at Silver Lake Village, a 263-unit apartment property in St. Anthony. St. Anthony Leased Housing Associates was the borrower. Dougherty arranged the 35-year loan through the HUD 223(f) program. Dominium Development and Acquisition, an active real estate developer, owns and developed the project in 2006.
BETHLEHEM, PA. — Salmanson Capital has acquired an off-campus student housing portfolio adjacent to Lehigh University in Bethlehem for $15.2 million. The company purchased the 50-building portfolio in an off-market transaction. The sale includes a mix of apartment buildings and townhouses totaling 108 units, with 394 beds, which are within blocks of campus. The seller was a local owner. The new owner plans to rebrand the buildings as Campus Hill Apartments and will begin a $2 million improvement plan to complete kitchen and bathroom renovations in all of the units.
JERICHO, N.Y. — NorthMarq Capital has arranged a $2.1 million loan for the refinancing of Jericho Crest, a 16,260-square-foot strip center at 6333 Jericho Turnpike in Commack. Charles Cotsalas arranged the 10-year loan, which contains a 25-year amortization schedule, through an undisclosed life company. Jericho Crest Corp. was the borrower.
BEDFORD, MASS. — Jones Lang LaSalle Construction has been awarded the contract to provide construction management and general contracting for Enegris Corp.'s i2M Center for Advanced Materials Science at 9 Crosby Drive in Bedford. Entegris, which makes products for the semiconductor and microelectronics industries, announced in April that it planned to customize the existing, 80,000-square-foot building at 9 Crosby Drive to include clean rooms, large manufacturing areas and waste-treatment systems. The company said the renovation would require a $50 million investment.
NEWTON, MASS. — The Yacobian Group, a retail consulting company, has signed a lease for 12,140 square feet of office space at the Riverside Center, located at 275 Grove St. in Newton. Yacobian is relocating from its former space in Maynard, Mass. The 508,000-square-foot Riverside Center is adjacent to the MBTA Riverside Terminal. The building includes a fitness center and cafe. Alex Dauria of Jones Lang LaSalle represented the landlord, Equity One, in the transaction. David Ross and Joe Sciolla of Cresa Boston represented the tenant.
TEXAS — Cole Real Estate Investments has purchased a portfolio of 20 convenience stores, including 19 Stripes stores in Texas and one Road Ranger store in Illinois, for $80 million. Cole was self-represented by Daniel Lovitz in the transaction. The acquisition was in-line with Cole's growth strategy of acquiring core real estate assets occupied by creditworthy tenants with long-term leases.