RIALTO, CALIF. – Conopco has signed a three-year lease renewal at a 1.1-million-square-foot distribution space in Rialto. The facility is located at 305 W. Resource Drive. Conopco was represented by Jay Hruska, Sean Duffy, Tim D’Addabbo and Damon Bowers of Cushman & Wakefield in Connecticut; Chuck Belden, Kyle Kehner and Tim Pimentel of the firm’s Inland Empire office; and Tom Cotter of Unilever. The landlord, Prologis, was represented in-house.
FLORIDA — Wharton Equity Partners has purchased an interest in four central Florida rental communities, which totals 900 units, for $50 million. The four properties include the 352-unit Hunter’s Ridge at Walden Lake in Plant City; the 168-unit Mallards of Brandywine in Deland; the 172-unit The Grove and the 208-unit Pierpoint Port Orange in Port Orange. The transaction was completed through a partnership led by certain real estate funds affiliated with Och-Ziff Capital Management Group. Cocke Finkelstein, an Atlanta-based investment management firm, also invested in the transaction and will provide property management services for the venture.
STUART, FLA. — Kite Reality Group has acquired the 160,000-square-foot Cove Center, an unencumbered shopping center in Stuart, for $22.1 million. Cove Center is 97 percent leased and is anchored by Publix Supermarket and Beall’s Department Store.
CHARLOTTE, N.C. — Los Angeles-based JRK Investors has acquired the 264-unit Park at Steele Creek apartment community in Charlotte. Sean Wood, John Heimburger, Blake Okland and Dean Smith of ARA’s Charlotte office represented Greensboro, N.C.-based Bell Partners, the seller, in the transaction. The community, located in Charlotte’s desirable Southwest submarket, was 95 percent occupied at the time of the sale.
SANDY SPRINGS, GA. — South Carolina-based Strand Communities has acquired the 484-unit The Lodge at Sandy Springs, located at 6925 Roswell Road NE in Sandy Springs. Amenities include a clubhouse, swimming pool, two tennis courts, a sand volleyball court, poolside picnic area with grills and a playground. Chris Spain and Nathan Swenson of Cushman & Wakefield’s Atlanta office represented New Boston Fund, the seller, in the transaction.
MIAMI — Beech Street Capital has provided an $18 million Fannie Mae conventional loan to refinance the 138-unit 1550 Brickell, an apartment complex located in Miami. The borrower, Green Development Group, also developed the complex. Patrick Boyle of Beech Street’s Baltimore office arranged thE fixed-rate loan with a 10-year term, 9.5 years yield maintenance and a 30-year amortization schedule.
AURORA, ILL. — Duke Realty Corp. has purchased a 257,542-square-foot industrial facility at 940 N. Enterprise St. in Aurora for a reported $9.5 million. Brighton Best International, a distributor of fasteners screws and bolts, has signed a long-term lease for the entire building and will relocate its operations to the facility later this year. Built in 1998, the building includes 36 truck docks and four drive-in doors. David Bercu of Colliers International represented the seller, PanCal, 940 Enterprise LLC. Brian Colson and Eric Fisher of NAI Hiffman represented Duke Realty.
EAGAN, MINN. — Murphy Warehouse Co. has purchased a 350,000-square-foot warehouse facility at 905 Yankee Doodle Road in Eagan for $6.55 million. 99 Cents Only Stores was the seller. The property has been on the market since 2005 and terms of the deal were not disclosed. Murphy Warehouse owns 11 facilities in the Twin Cities, and the new Eagan logistics facility will serve customers in the food, medical, retail, paper and home construction industries. The new owners plan to invest $3 million in facility upgrades, including several sustainable features.
GARRETT, IND. — Bell Equipment Services has purchased a 14,420-square-foot industrial building in Garrett. The property is situated on 4.6 acres at 2431 Forrest Park Dr. Tyler Binkley of NAI Harding Dahm represented the seller, Multiple Trusts – Bertsch, in the transaction. He also represented the buyer.
OMAHA — NorthMarq Capital has arranged $7.4 million for the refinancing of Wyndham Villas, a 92-unit apartment property, in Omaha. John Bendon and Jason Kinnison of NorthMarq Capital arranged the 10-year loan through Freddie Mac. The loan contains a 30-year amortization schedule.