BETHESDA, MD. — Walker & Dunlop has secured $8.25 million in permanent financing for the 62,800-square-foot Bethesda Corner, a two-level retail building located in Bethesda. Tyler Blue and Ted Hermes of Walker & Dunlop arranged the 10-year loan with a 25-year amortization schedule through a life insurance company on behalf of Washington Property Co., the borrower.
CHICAGO — United Airlines is moving its headquarters to Chicago's Willis Tower, which currently houses the airline's new operations center. Corporate staff is moving from 77 W. Wacker to 200,000 square feet at the tower. The new deal means the company will be leasing a total of 830,000 square feet at Willis Tower. Once the deal is complete, United will occupy approximately 25 percent of the building. The company has also agreed to extend its lease by two years to 2028. A partnership of Chicago and New York investors known as 233 S. Wacker Drive LLC owns Willis Tower. Jones Lang LaSalle represented United Airlines in the lease transaction.
CANTON, OHIO — The 11,400-square-foot Jared Jewelers Center in Canton has sold to a private group in Youngstown, Ohio for $4.6 million. The building is fully leased and tenants include Jared The Galleria of Jewelers and Danner Dental. Dan Cooper of Cooper Commercial Investment Group represented the owner, a private investor from Cleveland, in the transaction. He also secured the buyers.
GRAYSLAKE, ILL. — McShane Construction has been selected to complete a 7,955-square-foot office project for the Illinois Bone & Joint Institute within the Belvidere Professional Center in Grayslake. McShane will construct a reception and lobby area, eight exam rooms, two cast rooms and an X-ray area. The building is located at 1275 Belvidere Road. Partners in Design is the project architect.
WILBRAHAM, MASS. — M. Dunitz Business Holdings Group, a Delaware-based limited partnership, has acquired the Big Y Plaza in Wilbraham for $18.1 million. The 63,850-square-foot Big Y supermarket opened at 2031 Boston Road in 2008. Shortly thereafter, a Red Robin restaurant opened on the site's outparcel. Matt Halprin of New England Properties represented the seller, Merchant Wilbraham LLC, in the transaction. Dan Barnes of Lee & Associates represented the buyer.
NEW YORK CITY — TerraCRG has arranged $5.5 million in first mortgage financing for the acquisition of a six-building apartment portfolio in Brooklyn. IWC Capital Management purchased the portfolio, which totals 37,950 square feet, for $7.3 million. The buildings include 645 Putnam Ave.; 319 Malcolm X Blvd.; 419 Marcus Garvey Blvd.; 421 Marcus Garvey Blvd.; 804 Macon St.; and 814 Macon St.
TEANECK, N.J. — Grant & Joy Lee Family LLC has acquired a 184,000-square-foot industrial property in Teaneck from curtain and bedspread importer Beacon Looms for $6.1 million. Michael Schaible of Lee & Associates New Jersey represented the seller, the Sadinoff family, who founded the textile company in 1941 in New York City. Beacon will close its doors as the third-generation owner of the company retires. Bowen Pak of Eastern International Realty represented the buyer. The property will serve as a company headquarters and primary distribution center for Grant Electrical Distributors.
MONTVALE, N.J. — Life Time Fitness has closed on its purchase of One BMW Plaza, the 129,346-square-foot former BMW facility in Montvale. The Minnesota-based health and lifestyle club has recently obtained approvals to level the existing structure and construct a state-of-the-art fitness center on the site. Construction is slated to begin either later this month or early September. Robert Kossar, David Knee, Joel Lubin, Blake Chroman and Christopher Hile of Jones Lang LaSalle represented the seller, a group of charitable trusts, in the transaction. Kenneth Lundberg of NAI Hanson represented Life Time Fitness.
LONGVIEW — Arlington-based Ascension Group Architects has begun the expansion and renovation of Longview Regional Medical Center, located in Longview. The 175,000-square-foot expansion includes 100 new acute care rooms, a three-story tower, third and fourth floors to the existing building and space for new physicians. The floors of the existing building will be renovated as well to make room for eight oncology beds on the first floor and moving 15 beds in the skilled nursing unit from the first floor to the second floor. Also, five maternity units will be added to the existing six units, and 13 antepartum/postpartum beds will be added to the existing 17. In the nursery, 10 bassinets will be added to bring the total to 24. The new expansion will also add four triage spaces and a C-section room. Birmingham, Ala.-based Robins & Morton is serving as general contractor for the expansion project, which will be built in phases and is slated for a late 2013 completion.
FORT WORTH — Marcus & Millichap has brokered the $7.14 million sale of a 12,738-square-foot CVS/pharmacy drugstore, located at 2603 W. Berry St. near the entrance to Texas Christian University (TCU) in Fort Worth. Lior Regenstreif of Marcus & Millichap's Encino, Calif., office represented the seller, a REIT, in the transaction. Scott Sandelin of Marcus & Millichap's Miami office represented the buyer, a private investor. Timothy Speck of Marcus & Millichap's Dallas office served as the firm's broker of record in Texas.