CHARLOTTE, N.C. — RAM has sold the 28,200-square-foot Village at Whitehall, located on S. Tryon Street in Charlotte, to Catalyst Real Estate for $6.11 million. Starbucks and McAllister's anchor the center. Rob Carter, Alex Quarrier, David Webb and Rebecca Levell of Berkeley Capital Advisors represented the seller in the transaction.
DELRAY BEACH, FLA. — Behringer Harvard has broken ground on the 180-unit The Franklin Delray, a luxury multifamily community located at 1206 S. Federal Highway in Delray Beach. LandSouth Construction is the general contractor for the project and the architects are STB Architects & Planners and Richard Jones Architecture. Amenities will include a rotunda community room, cyber cafe, business center and library, children's activity zone, fitness center and resort-style pool with cabanas.
WHITE LAKE, MICH. — The former Farmer Jack building at the 364,000-square-foot White Lake Marketplace will soon house two new retailers. Bed Bath & Beyond signed a lease for 28,046 square feet and Jo-Ann Fabric and Craft Store is taking 25,660 square feet of retail space. The new stores join Walmart Supercenter, Home Depot, Office Max and Fashion Bug. Gershenson Realty & Investment is the broker for the property.
SIDNEY, OHIO — Marcus & Millichap has arranged the $4.3 million sale of a 127,204-square-foot Kroger shopping center in Sidney. Antoine Matthews, Dan Yozwiak and John Reehil of Marcus & Millichap represented the seller, a limited liability company. The buyer, also a limited liability company, was self-represented.
KANSAS CITY, KAN. —Comprehensive Logistics (CL), a third-party logistics provider that services the local General Motors assembly plant, leased the entire 517,000-square-foot industrial building at 5300 Kansas Ave. in Kansas City for a five-and-a-half year term. The tenant also leased 120,000 square feet in an adjacent property. CL opened in half the space at 5300 Kansas Ave. in 2010. The company states that it required more space as the GM assembly plant in Fairfax grew. Mark Long of Zimmer Real Estate Services represented the building owner, BH Properties, in the transaction. Howard Moss of Omni Consulting and Jack Allen of Karbank Real Estate Co. represented the tenant.
CHICAGO — Meridian Capital Group has arranged $50 million in financing on behalf of Flagship Partners, for its retail property at 25 E. Oak St. in Chicago. Aaron Birnbaum, Ronnie Levine and Tal Savariego of Meridian Capital negotiated the 10-year CMBS loan through Goldman Sachs. The three-story property contains 38,445 square feet of rentable space. Tenants include Hermes, Giorgio Armani and Vera Wang.
EVANSTON, ILL. — M&R Development and RMK Managment Corp. plan to break ground on Central Station, a four-story apartment development in Evanston, on Wednesday. The project will include 80 apartment homes, 56 parking spaces and 10,650 square feet of street-level retail. The first occupancies are expected next July. Amenities will include a fitness center, cyber lounge and a common outdoor terrace. Apartment homes will measure between 592 and 1,488 square feet. The property is located one mile from Lake Michigan and one block from a Metra stop.
NEW YORK CITY — SL Green Realty Corp. has formed a joint venture with Stonehenge Partners to redevelop a property at 1080 Amsterdam Ave. in New York City into a 96-unit apartment building. The two firms will enter a 99-year ground lease for the property, located just south of Columbia University's main campus, and will invest $13 million in a renovation. The 82,250-square-foot building was previously used to house hospital staff of St. Luke's Hospital Center. The project will include upgrades to the common corridor, window improvements and changes to the electrical, heating and elevator systems. The work is expected to be completed within two years of its start time.
PATERSON, N.J. — Grandbridge Real Estate Capital has arranged a $4.8 million first mortgage loan for Congdon Mill Apartments, a 67-unit affordable housing property in Paterson. Paul Aanonsen and Jack Bauer of Grandbridge negotiated the 15-year loan through Freddie Mac. The property, originally constructed as a manufacturing mill in 1907, is located on the Passaic River. The loan contains a 35-year amortization schedule.
NORTH BERGEN, N.J. — North Bergen opened a 13,000-square-foot municipal court and parking authority at 4225 Bergen Turnpike. The new building is located at the site of a former TD Bank branch. The township acquired the property in 2009 and paid $4 million to renovate and expand the building. DMR Architects worked with township leaders to redesign the space.