RALEIGH, N.C. — Southbridge Fellowship, a North Carolina-based non profit, has purchased 10.79 acres for $1.46 million on Glenwood Ave. in Raleigh. The organization plans to build a church campus on the property and hopes to consolidate and expand its existing offices to the new campus within the next two to three years. Randy Williamson and Jim Anthony of Colliers International represented the buyer in the transaction.
NORTH BRANCH, MINN. — Marcus & Millichap has arranged the sale of Budget Host Inn & Suites, a 42-room economy hotel in North Branch. Jonathan Ruprai of Marcus & Millichap's Tampa office represented the seller, a financial institution. He also secured the buyer, a limited liability company.
AURORA, ILL. — Midwest Warehouse, a third-party logistics firm, has signed a lease for 59,521 square feet of industrial space at 2707 Eola Rd. in Aurora. The 251,768-square-foot building is located just north of I-88. Brad Borkowski and Tim Thompson of HSA Commercial Real Estate represented the tenant in the transaction. David Prioletti and Kip Hennelly of CBRE represented the owner, Manulife Financial.
FORT WAYNE, IND. — Pyromaniacs Inc., a fireworks retailer, has signed a lease for 2,740 square feet of retail space at 5911 N. Clinton St. in Fort Wayne. Greg Conkling of NAI Harding Dahm represented the tenant in the transaction. He also represented the landlord, Tower Bank and Trust.
NEW YORK — MCR Development LLC has acquired three hotels in Florida and New Jersey for approximately $40 million. The properties, which total 329 rooms, include a Homewood Suites by Hilton, Courtyard by Marriott and Hampton Inn & Suites. In addition, MCR recently began the development and expansion of two Residence Inn by Marriott hotels in New Jersey. MCR owns and manages 19 hotels with 2,158 rooms in 10 states.
MUHLENBERG TOWNSHIP, PA — A limited partnership sold Premium Business Center in Muhlenberg Township, Pa., for $17.05 million. The partnership is comprised of Endurance Real Estate Group of Bala Cynwyd, Pa., Brasler Properties of Philadelphia and Thackeray Partners of Dallas. STAG Industrial of Boston acquired the 400,414-square-foot property. The fully leased facility contains warehouse, distribution and production space, and is located at 171-173 Tuckerton Rd. Michael Blunt, Michael Hines, Brad Ruppel and Paul Touhey represented the seller in the transaction.
MELROSE, MASS. — NAI Hunneman has arranged the $4.55 million sale of 199 W. Wyoming Ave., a 36-unit apartment building in Melrose. The building is fully occupied and includes a mix of studio, one- and two-bedroom units. Carl Christie and Dan McGee of NAI Hunneman represented the seller, 119 West Wyoming Avenue LLC, in the transaction. They also procured the buyer.
HOOKSETT, N.H. — SMC Management Corp. has purchased a 27-acre development site in Hooksett, that is fully permitted for 204 units. The site is named University Heights and is part of a 382-acre, mixed-use development that includes single-family housing, condominiums and commercial space. University Heights is located less than 6 miles north of Manchester, N.H. Terence Scott of ARA's New England office represented the seller, Green View Management, in the transaction.
HOUSTON — Apache Corp. has purchased 6.4 acres of land at BLVD Place, a new mixed-use development located on Post Oak Boulevard and San Felipe Street in Houston. The property is located on the southwest corner of Post Oak Boulevard and the future BLVD Place Drive and includes frontage on Post Oak Lane and Ambassador Way. The Pavilion, a former shopping complex located on the site, is undergoing demolition with a completion date by year's end. Upon completion, BLVD Place will feature 388,000 square feet of retail and office space, as well as 1,000 high-rise multifamily units. Tim Relyea and Scott Wegmann of Cushman & Wakefield represented the buyer in the transaction. Ed Wulfe and Bob Sellingsloh of Wulfe & Co. represented BLVD Place.
AUSTIN — KBS Realty Advisors has signed leases with two tenants totaling 23,119 square feet of office space at its 260,112-square-foot SouthTech Business Center, a 99 percent leased office complex located at Freidrich Lane and East St. Elmo Road in Austin. Houston-based Suntronic has leased 10,731 square feet at SouthTech Business Center, Building 3. Dillon Mao of Katy-based FIRM Properties represented the tenant in the lease transaction. Virtuoso Selections is expanding its headquarters in Building 3 to a new 12,388-square-foot office in the same building. Carson Jones of Partners National Corporate Real Estate Services represented the tenant in the lease transaction. Ace Schlameus of HPI Real Estate represented the landlord in both lease transactions. Other tenants at SouthTech Business Center include Republic Beverage, New Era Publishing and JS International Shipping Corp.