MIAMI — The 302,825-square-foot Aventura Industrial Center, located at 555 NE 185th St. and 320 NE 187th St. in Miami, has sold for $18.7 million. The two-building property is fully leased. Christian Lee, Charles Foschini, José Antonio Lobón, David Albert, Devin White, Chris Riley and Brian Budnick of CBRE Group represented Principal Real Estate Investors, the seller, in the transaction.
TAMPA, FLA. — Interstate Hotels & Resorts and Waramaug Hospitality have completed a $9 million renovation of the 265-room Sheraton Tampa East Hotel, located at 10221 Princess Palm Ave. in Tampa. The renovation included upgrades to all guest rooms, the hotel's 30,000 square feet of meeting space and all public areas, including adapting the hotel's reception area to Sheraton's signature lobby, the Link@Sheraton experience. Additional amenities include Panfilio's Bar and Grille, a fully renovated, full-service restaurant, as well as the Sheraton Club Lounge, an outdoor heated pool, tennis courts and an upgraded fitness facility.
ROSWELL, GA. — The 127,342-square-foot Roswell Summit, an office building located at 1080 Holcomb Bridge Road in Roswell, has sold for $4.85 million. The property is 50 percent leased. The buyer plans to invest in interior and exterior upgrades. Sean Williams of Bull Realty represented Emcade Acquisitions, the buyer, in the transaction. Kevin Markwordt of Transwestern represented the seller, CSMC 2006-C5 Holcomb Office LP.
WEST PALM BEACH, FLA. — Marcus & Millichap has arranged the $3 million sale of the 16,721-square-foot Blackstone Building, an office and retail building located at 100 S. Dixie Highway in West Palm Beach. The property includes 5,791 square feet of retail space and 10,930 square feet of office space. Douglas Mandel and Brian Rosen of Marcus & Millichap represented the seller, a West Palm Beach-based owner and developer, in the transaction.
CHARLESTON, S.C. — USBank has sold 36 unoccupied condominiums in The Arboretum, located at 2244 Ashley Crossing Drive in Charleston, to a New York investment firm for $2.9 million. Scott Rogers of Colliers International represented the seller in the transaction.
CHICAGO — Motorola Mobility, a smartphone maker owned by Google Inc., is relocating its headquarters to Vornado Realty Trust's Merchandise Mart in Chicago. The company, currently based in Libertyville, Ill., has signed an office lease for 572,000 square feet. The 3.5 million-square-foot Merchandise Mart is the world's biggest commercial building, according to a statement by Vornado. Motorola is expected to move to the building in early 2013.
COON RAPIDS, MINN. — Walker & Dunlop has arranged a $12 million loan for the refinancing of Select Senior Living at Coon Rapids, a 68-unit assisted living facility in Coon Rapids. Amenities at the property include separate dining rooms for memory-care and assisted-living residents, an activity center and theater room. Carolyn McMullen of Walker & Dunlop secured the loan through the U.S. Department of Housing and Urban Development's Section 232/223(f). The loan contains a 35-year amortization schedule.
NORTHLAKE AND BOLINGBROOK, ILL. — Both WEG Electric Motors Corp. and HD Supply have inked leases to expand industrial space in two Illinois properties owned by Duke Realty. WEG Electric has expanded its space by 84,000 square feet by relocating to Crossroads 1 in Bolingbrook. The company signed a lease for 163,470 square feet. HD Supply expanded into the 79,288 square feet vacated by WEG Electric at Northlake I, located at 635 Northwest Ave. in Northlake. Darren Ross of Colliers International and Brian Carroll of Newmark Grubb Knight Frank represented WEG in its transaction, while John Cash of NAI Hiffman represented HD Supply. Duke Realty was self-represented by Susan Bergdoll in both deals.
HARRISBURG, PA. — Greenwood Hospitality has acquired the 384-room Hilton hotel in downtown Harrisburg for a reported $22.2 million. Developed in 1990, the property includes 26,000 square feet of meeting and conference space and The Golden Sheaf restaurant. The hotel is connected by an enclosed walkway to the Whitaker Center for Science and the Arts and Strawberry Square, a mixed-use retail and office complex. Greenwood plans to upgrade the hotel's guest rooms and public spaces.
BUDD LAKE, N.J. — Comfort Suites, a 53-room hotel property in Budd Lake, has sold for $1.75 million. Built in 2001, the property is located at 102 Route 46 W. and is approximately one mile from the International Trade Center. Umar Sheikh of Marcus & Millichap represented the seller, a limited liability company, in the transaction. He also represented the buyer, a private investor. The new owners plan to rebrand the property as a Super 8.