BURLINGTON, MASS. — Green Mountain Coffee Roasters is consolidating its single-cup Keurig brewing business into a new campus in Burlington. The company signed a lease for 424,000 square feet at the Burlington Research Center. The build-to-suit deal gives the company room to expand, while consolidating operations at facilities in Reading, Wakefield and Woburn. Michael Frisoli, J.R. McDonald and Robert Griffin of Cushman & Wakefield represented the tenant in the transaction. Jon Varholak and Ron Friedman of Richards Barry Joyce & Partners represented the landlord, the Gutierrez Co.
SOMERSET, N.J. — TA Associates Realty has purchased a 159,000-square-foot industrial property in Somerset from Cornerstone Real Estate Advisors for $10.7 million. Built in 1998, the warehouse and flex building is fully leased to six tenants. The building is located at 65 Clyde Road and features 42-foot clear ceiling heights and 40-foot by 40-foot column spacing. Andrew Merin, David Bernhaut, Gary Gabriel, Kyle Schmidt, Frank Caccavo, Jason Goldman, Marc Petrella and Andrew Siemsen of Cushman & Wakefield marketed the property.
GIBSONIA, PA. — Philips Edison – ARC Shopping Center REIT Inc. has acquired Northtowne Square, a 113,327-square-foot shopping center in Gibsonia, for $10.6 million. The center is fully occupied and anchored by an 86,477-square-foot Giant Eagle grocery store, which has 12 years remaining on its lease. Recently, Petco signed a 10-year lease at the property for 9,000 square feet. The acquisition brings Philips Edison's total portfolio to 14 properties.
HARKER HEIGHTS — Rendina Cos. has completed construction on the 60,000-square-foot Harker Heights Medical Pavilion, located on the Seton Medical Center Harker Heights campus in Harker Heights. Rendina was responsible for all aspects of development, including construction management, leasing and tenant improvement coordination. The new facility will consist of family practice, cardiology, OB/GYN, orthopedics, ophthalmology, ear, nose and throat, podiatry and emergency medicine. The facility is a collaborative effort between Rendina, LHP Hospital Group and Seton Medical Center Harker Heights.
NORMAN, OKLA. — HFF has secured $23 million in refinancing for the 268-unit, 792-bed Crimson Park, a student housing community located near the University of Oklahoma in Norman. Timothy Wright and Zack Holderman of HFF arranged the 10-year loan thorough Freddie Mac's CME Program on behalf of the borrower, San Diego-based Pierce Education Properties. The student housing property features a 24-hour fitness center, a basketball court, sand volleyball court, putting green, three-tier resort-style pool, hot tub, fire pit, tanning bed and media room.
FORT WORTH — Berkadia Commercial Mortgage has originated a $22.49 million loan for the 273-unit Enclave on Golden Triangle, a Class A multifamily community located in Fort Worth. Steve Mentesana and John Koeijmans of Berkadia arranged the 35-year loan with a 35-year amortization schedule through the Fort Worth Housing and Urban Development Multifamily Center on behalf of the borrower, Daymark Realty Advisors. The property is currently 96 percent occupied and features a two-story business and fitness center.
CHULA VISTA, CALIF. — The 127-space Cabrillo Mobile Lodge senior mobile home park in Chula Vista has sold to Robert Bruce and Brenda F. Kleege for $6.85 million. The park is located at 731 G Street. The purchase was financed with a loan of $4,999,000 through Union Bank’s Ron Hernandez. The park’s title will be transferred into Cabrillo Mobile Home Park LLC, but it will continue to operate as Cabrillo Mobile Lodge. The Kleeges were represented by Rob Morgan and Victor Krebs of Colliers International. The seller was Cabrillo Mobile Lodge LLC, with Richard F. Beck and Betty A. Beck as the co-trustees of the Richard F. Beck and Betty A. Beck Trust. The Becks are co-managers of Cabrillo Mobile Lodge.
PHOENIX – The 124-unit Brookfield apartment community in Phoenix has sold to LWH Brookfield LP, a limited partnership formed by The Sheiner Group, for $5.65 million. It was developed by Pacific West Development in 1984 and is located at 12021 North 43rd Ave. The seller, AG Brookfield, LLC, was represented by Cliff David and Steve Gebing of Marcus & Millichap’s Phoenix office.
LAKEWOOD, COLO. – The 32-unit Country Club Gardens in Lakewood has sold to an unnamed buyer for $2.3 million. This was the highest sales price per unit for an apartment building over 15 units in Lakewood in more than four years, according to Josh Newell of Pinnacle Real Estate Advisors. Newell and the Calame Lewallen Team at Pinnacle Real Estate Advisorsrepresented the seller, The Salvation Army, in this transaction. The apartment community was built in 1962 at 1160 Pierce Street. Kevin Calame and Matt Lewallen also represented the buyer.
OXFORD, MISS. — A joint venture between EdR and Landmark Properties has started construction on a $37.6 million, 668-bed off-campus student housing community, located at 2405 Anderson Road in Oxford, close to the University of Mississippi. Amenities include outdoor living areas, a resort-style pool, sand volleyball court and horseshoe pits. Additionally, the property will include a clubhouse with a fitness center, tanning beds, internet cafe, private and group study rooms, computer lounge, game room and golf simulator. The cottage-style development will be the first collegiate housing of its type serving the college. The joint venture secured a conventional 75 percent loan-to-cost construction loan from PNC Bank for the project. Completion is slated for the fall of 2013.