SOUTHAVEN, MISS. — StyleCraft Home Collection has signed a 167,600-square-foot lease at the Airways Distribution, located at 8474 Marketplace Drive in Southaven. The space is located in the 602,500-square-foot Building E. The company will relocate and expand its distribution center in DeSoto County, and approximately 10,000 square feet will be used as a lighting and decor showroom. Allen Wilkinson and Dan Wilkinson of Colliers International represented the tenant in the lease transaction. IDI, the landlord, was self-represented by Tim Moore.
CHICAGO — M&R Development has started construction on two apartment developments in Chicago: Summit on Lake at 73 E. Lake St. in Chicago and Central Station at 1700-1722 Central St. in Evanston. Both projects will be managed by RMK Management Group. This week, crews broke ground on the 42-story Summit on Lake, which will include 322 units and 178 parking spaces. Occupancy is slated for April 2014. Amenities will include an indoor pool, spa with waterfall, a two-story cyber cafe and a business center. McHugh Construction is serving as general contractor. Construction is also under way on Central Station, a four-story apartment development along the Central Street corridor. It will include 80 apartments and 10,665 square feet of street-level retail. The first occupancies are expected next July. McShane Construction is serving as general contractor.
OVERLAND PARK, KAN. — Block Development Co. has broken ground on the Teva Pharmaceuticals office building at 11100 Nall Ave. in Overland Park. The 150,000-square-foot facility will include workspace for 350 employees. The site also includes space for an additional 100,000-square-foot building. Sprint sold the 18-acre parcel to Block Development Co., which broke it into three parcels. Teva is taking two of them. The building is set for completion in the third quarter of 2013.
NAPERVILLE, ILL. — Cohen Financial has arranged a $10 million loan to refinance the MetroWest office building at 55 Shuman Blvd. in Naperville. Dan Rosenberg of Cohen Financial's Chicago office secured the financing through a regional bank. The borrower is a joint venture between Chicago-based Bixby Capital and Franklin Partners.
PEWAUKEE, WIS. — Marcus & Millichap has completed the $11.5 million sale-leasback of the American Distribution Center in Pewaukee, located 15 miles west of Milwaukee. The two-building complex is a build-to-suit for American TV & Appliance, a furniture, appliance and electronics retailer. Developed in 1989 and 1999, the property encompasses 287,000 square feet. Scott Pertel, Vincent Schwab, David Weinberg and Paul Kerber represented the buyer in the transaction. They also represented the seller, American TV & Appliance.
MUSKEGON, MICH. — Quantum Real Estate Advisors has arranged the $1.1 million sale of a 6,500-square-foot O'Reilly's Auto Parts, located at 3082 N. Henry St. in Muskegon. The building is a former Blockbuster store that was retrofitted for O'Reilly's in 2011. The auto parts retailer has 14 years remaining on its lease. Jordan Kaufman of Quantum Real Estate Advisors represented the seller in transaction. The buyer is a private individual from Texas.
NEW YORK CITY — Ariel Property Advisors has arranged the $13 million sale of 62-64 East 34th St., a mixed-use property between Madison and Park avenues. The 18,680-square-foot building includes three leased retail spaces — two on the ground floor and a third on the second floor — and 13 apartments. The property is located near the Empire State Building and Madison Square Garden. Shimon Shkury, Victor Sozio and Michael Tortorici of Ariel Property Advisors represented the seller, a private investment partnership. They also represented the buyer, a private investor.
BOSTON — Colliers International has arranged a $30 million loan to refinance 600 Washington St., also known as the Washington-Essex Building, in Boston. The 251,520-square-foot building was originally built in 1904 and renovated in 1997. The Commonwealth of Massachusetts is the anchor tenant. John Broderick of Colliers International secured the 10-year, fixed-rate loan on behalf of the borrower, Northland Investment Corp. Sun Life Insurance Co. financed the transaction.
TEANECK, N.J. — Phibro Animal Health Corp. has leased 44,000 square feet at Glenpointe Centre in Teaneck. The company, which manufactures animal health and performance products, is relocating its headquarters from Ridgefield Park, N.J. Richard Baumstein, Marc Graham and Christian Politan of Cushman & Wakefield represented the owner, Alfred Sanzari Enterprises, in the transaction. The Krupat Group represented the tenant.
NEW YORK CITY — Highcap Group has arranged the $1.15 million sale of 3057 Bailey Ave., a five-story apartment building in the North Bronx. Several apartments in the 11-unit building were recently renovated. Josh Goldflam of Highcap Group represented the seller in the transaction. Ahmadu Ahmed, also of Highcap, represented the buyer.