MIAMI — Marcus & Millichap has negotiated the sale of the 998-unit ValGard Self Storage, located at 6820 SW 81st Terrace in Miami. The property will be rebranded as Uncle Bob's Self Storage. Michael Mele of Marcus & Millichap represented Miami-based ValGard Pinecrest, the seller, in the transaction. Peter Weimer of Locke Acquisition Group represented Buffalo, N.Y.-based Sovran Acquisition LP., the buyer.
PONTE VERDE, FLA. — NorthMarq Capital has arranged $5 million in first mortgage refinancing for the 47,845-square-foot Village Professional Center, an office park located at 13000 Sawgrass Village Circle in Ponte Verde. Joel Coykendall of NorthMarq Capital’s Jacksonville, Fla., office arranged the 10-year loan with a 25-year amortization schedule through a correspondent life insurance company.
GLENDALE, WIS. — Opus Development Corp. will begin an expansion project for the Glendale headquarters of Weyco Group, a shoe distributor, later this month. Opus will construct a new building to link Weyco's main facilities to a newly acquired 80,150-square-foot warehouse adjacent to the property. The new construction and building purchase will result in 112,000 square feet of additional space. Construction on the project is scheduled for completion this October. The project will boost Weyco's total space to more than 1 million square feet.
CHICAGO — Atlanta-based Best Warehousing & Transportation Center has renewed its 56,051-square-foot lease at a West Chicago industrial facility owned by DCT Industrial Trust. Best Warehousing is a third-party logistics firm and the facility is its first location in Illinois. Brad Borkowski of HSA Commercial Real Estate represented the tenant in the transaction. David Prell and Kirk Armour of CBRE Group represented the owner.
MONROE, MICH. — MHOC LLC has purchased 1800 Frenchtown Center Dr., a 129,037-square-foot industrial facility in Monroe. Brad Viergever, Steve Gordon and Craig Herschel of Signature Associates represented the seller, Equity Industrial Monroe, in the transaction. Viergever and Jim Montgomery of Signature Associates also represented the seller.
ABINGTON, MASS. — Campanelli Construction has broken ground on Cape Cod Lumber's new retail, warehouse and office building in Abington. The 136,000-square-foot building will serve as the lumber company's headquarters and operations center and the site will include a drive-through lumber yard for building professionals. The property is located at 225 Groveland St. and is slated for completion in January 2013.
DANVERS, MASS. — Onibella Associates Danvers LLC has purchased The Learning Experience, an 11,000-square-foot property at 308 Andover St. in Danvers, for $3.1 million. The building was constructed in 2009 and is located along Route 114. The daycare center has 13 years remaining on its lease. Bob Horvath and Todd Tremblay of Marcus & Millichap represented the seller, Omni Ventures 308 Andover LLC. They also secured the buyer, Onibella Associates Danvers LLC.
DENVER, PA. — 412 Oak St. LP has acquired an 80,280-square-foot warehouse, located at 412 Oak St., for $1.8 million. John Thury of NAI Commercial Partners represented the seller, Park Place PA LLC. Robert Ramsay, also of NAI Commercial, represented the buyer.
DERRY, N.H. — Eckman Construction has broken ground on two new buildings at Pinkerton Academy in Derry. Eckman will expand the school’s Center for Career and Technical Education. The project will include a two-story brick building that will house the technical curriculums, as well as laboratories and a greenhouse. A second building will accommodate both animal science and cosmetology curriculums. Marinance Architects of New Hampton designed the project.
NEW YORK CITY — Preservation Development Partners has completed a $2.5 million renovation of Trinity Apartments, a 75-unit apartment complex at 2105 Daly Ave. in the Bronx. The project included the installation of new boilers, flooring, electrical wiring and upgrades to the kitchen, bathroom and stairwell. The project was financed by Mayor Michael Bloomberg's New Housing Marketplace Plan, an initiative to fund affordable housing in New York. Preservation Development — a joint venture between developers Donald Capoccia, Joseph Ferrara, Brandon Baron, Francine Kellman and Brian Raddock — purchased the building last year.