SAN MARCOS, CALIF. – A 47,037-square-foot industrial property in San Marcos has sold to SR Commercial for $3.67 million. The property is located at 120 Mata Way. The four-tenant property was vacant at the time of sale. Henry Zahner and Jon Busse of Colliers International represented both the buyer and the seller, Ontel Products, in this transaction. Zahner and Busse are also the exclusive leasing agents on the building.
CULVER CITY, CALIF. – Given Imaging has signed a lease for a 25,199-square-foot office building in Culver City. It is located at 5860 Uplander Way. The building will serve as the company’s regional office. Given Imaging was represented by Bruce Hoffman of UGL Equis. The landlord, Nampco Real Estate, LLC, was represented by Steve Solomon and Eric Adams of Jones Lang LaSalle Los Angeles.
LAVERGNE, TENN. — Saks Inc. has opened its 564,000-square-foot distribution and fulfillment center, located at 1 Walden Books Drive in LaVergne. The building is a former Borders distribution facility. The new center, which employs 250 full-time associates, will fulfill customers' orders from saks.com. A joint venture between DCT Industrial Trust and Saks owns the center. The retailer also operates distribution centers in Aberdeen, Md., and Ontario, Calif.
MELBOURNE, FLA. — Clarke Enterprises has sold a 14-building industrial portfolio, located in Melbourne, to CIA Developers for $9.25 million. The Class B properties total 284,500 square feet. The portfolio is 86 percent leased to approximately 60 tenants. Todd Everett, David Knott and Ryan Dinsdale of NAI/Merin Hunter Codman represented the seller in the transaction.
BURTONSVILLE, MD. — NAI KLNB has arranged the $8.4 million sale of the 117,000-square-foot Burtonsville Office Park, a four-building portfolio located at 3901, 3905, 3909 and 3919 National Drive in Burtonsville. The properties are 72 percent leased to approximately 40 tenants. Chris Kubler of NAI KLNB represented the seller, Midland Loan Servicing, in the transaction. The buyer was an affiliate of Bernstein Management Corp.
SUFFOLK, VA. — A 216-unit multifamily development, located in Suffolk, has sold for $5.45 million. The 10.6-acre parcel is a fully entitled multifamily site, which is part of an approximately 148-acre mixed-use development. The Florida-based buyer plans to begin construction by year's end. Dan Johnson and Hank Hankins of CBRE/Hampton Roads represented the seller in the transaction.
OLIVE BRANCH, MISS. — IDI has arranged a 150,662-square-foot lease with Millstone Medical Outsourcing at the 3.2 million-square-foot Crossroads Distribution Center, located in Olive Branch. The company will occupy space in Building B, which is slated for completion in September. Michael Driscoll of Colliers International represented the tenant in the lease transaction. IDI, the landlord, was self-represented by Tim Moore.
RAPID CITY, S.D. — Columbus Pacific Properties (CPP) has purchased Rushmore Crossing, a 550,392-square-foot center in Rapid City. The power center is anchored by Target, Sam's Club, Bed Bath & Beyond, Michaels, T.J. Maxx and Gordman's. The purchase included an additional 198,320 square feet of planned retail development and 14 outparcels. Jim Batjer of HFF represented the buyer and seller in the transaction.
DULUTH, MINN. — Marcus & Millichap Capital Corp. has arranged a $6.1 million acquisition loan for a 13,325-square-foot Walgreens drugstore in Duluth, built in July 2012. Dean Giannakopoulos of Marcus & Millichap arranged the 25-year loan through a national life insurance company. The loan contains a 25-year amortization schedule.
CHICAGO — Beech Street Capital has arranged a $5.6 million HUD 232/223(a)(7) loan for the refinancing of Peterson Park Healthcare Center, a 188-bed skilled nursing facility in Chicago. Joshua Rosen of Beech Street arranged the 17.5-year loan, which will enable the borrower to keep the same term and amortization period as the existing loan.