JONESBORO, GA. — Kaiser Permanente has selected McCarthy Building Cos. for the $25 million renovation of the 70,563-square-foot Southwood Comprehensive Medical Center, located at 2400 Mount Zion Parkway in Jonesboro. The project will include increased parking, a new radiology addition and a two-story general addition totaling 65,000 square feet. Gresham, Smith and Partners is the architect of record. Construction is scheduled to begin this fall, with completion slated for January 2014.
LADY LAKE, FLA. — CNL Healthcare Trust has agreed to invest $21.6 million in the 96-unit HarborChase of Villages Crossing, a to-be constructed assisted living and memory care community in Lady Lake. The two-story building will total 91,000 square feet. Harbor Retirement Associates is the project developer and will provide management services under a long-term contract upon completion. CNL owns 100 percent of the project.
MEBANE, N.C. AND DALLAS, GA. — STAG Industrial has purchased three industrial buildings totaling 518,383 square feet, for $19.8 million. Two of the buildings are located in Mebane and one is located in Dallas. The properties include two warehouse and distribution facilities and one light manufacturing facility, which are fully leased to Armacell, with an average remaining lease term of 12 years.
LOUISVILLE, KY. — Steadfast Income REIT has purchased the 160-unit Valley Farms Apartments, a garden-style multifamily community located at 5306 Valkyrie Way in Louisville, for $15.1 million. The property is 97 percent occupied. Amenities include a resort-style pool, fitness center, barbeque area and a business center.
COLUMBUS — Carter has started construction on the $50 million residential and retail project in Columbus Commons. The development, named Highpoint at Columbus Commons, will include 301 apartments and 23,000 square feet of retail on the ground floors, with plans for two restaurants. The project will total 325,000 square feet. The site, which Carter acquired from Capitol South, is part of a redevelopment of the former City Center mall that was demolished in 2009. Capitol South oversaw the development of the 9-acre public park and Carter's mixed-use project will be Phase II of the Columbus Commons development. Highpoint is expected to be complete at the end of 2013.
CHICAGO — DCT Industrial Trust has agreed to purchase four industrial assets totaling 563,000 square feet, including one facility in the Chicago O'Hare International Airport submarket. The Class A air freight buildings are situated in prime distribution locations. The additional three facilities are in the Los Angeles International Airport submarket. The portfolio is 99.6 percent occupied by eight tenants. The off-market transaction is expected to close in the fourth quarter of this year.
MILWAUKEE — Leopardo-Wisconsin has started construction on the new Tazinos Pizza and Salad Bistro in Milwaukee. Located on the first floor of the City Center at 735 N. Water St., the 4,000-square-foot restaurant will feature indoor and outdoor seating that can serve 173 patrons. Construction is scheduled for completion in October. The new location is the initial phase of Tazino's multi-phase expansion plans. The company currently owns and operates restaurants in Menomonee Falls, Oak Creek and Pleasant Prairie, Wis.
CHICAGO — Tandem Construction has started the second phase of a $4.2 million renovation of the Union League Boys & Girls Club at 2157 W. 19th St. in Chicago. Phase II includes a full remodelling of the original 19th century Club One building. Tandem completed Phase I, the construction of a four-story, 17,000-square-foot annex adjacent to the existing facility, in July. Dating back to the 1880s, Club One once housed a saloon and has been home to the Union League Boys & Girls Club since 1920. Tandem plans to renovate an exisiting gym, build a state-of-the-art technology center and remove an unused swimming pool in the basement to create a multipurpose space. The project is slated for completion at the end of this year.
FORT WAYNE, IND. — Halloween Express has signed a lease for 12,650 square feet of retail space in Georgtown Square, located at 6404 E. State Blvd. in Fort Wayne. Al Stovall of NAI Harding Dahm represented the landlord, Georgetown Members LLC, in the transaction. Russ Jehl, also of NAI Harding Dahm, represented the tenant.
NEW YORK CITY — Marcus & Millichap has arranged the $31.5 million sale of the Art & Design Building at 1059 Third Ave. in Manhattan. The price translates to $1,146 per square foot, setting a new record for East Midtown commercial real estate, according to a statement. The buyer plans to demolish the 22,250-square-foot office, showroom and retail building and develop the property into high-end condominiums. The property is located near Trump Plaza, Bloomingdale's and the Bloomberg Building. Tanya Siegel and Kailin Zhu of Marcus & Millichap represented the seller in the transaction. Massey Knakal represented the buyer.