MESA, ARIZ. — Banner Health has purchased 21 acres in Mesa for $6.3 million. The acreage is located just east of the southeast corner of US 60 and Greenfield Road. The seller, Crisko LLC, was represented by Brent Moser, Mike Sutton and Brooks Griffith from Cassidy Turley BRE Commercial’s Land Group.
CANOGA PARK, CALIF. — A 28-unit apartment building in Canoga Park has sold to Minas Properties, LLC for $3.06 million. It is located at 21700 Roscoe Blvd. The community was built in 1962 and was fully occupied at the time of sale. Minas was represented by Empire Estates Group. The seller, Roscoe Villa, L.P., was represented by Albert Shilton and Blake Rogers of Charles Dunn Company.
TARZANA, CALIF. – A 12,044-square-foot vacant retail space in Tarzana has sold to a dermatology and skin care practice group for $2,326,000. The property is located at 18553-18563 Ventura Blvd. Jeff Gould and Jeff Albee of Colliers International represented both the buyer and the seller in this transaction.
WASHINGTON, D.C. — Quadrangle Development Corp. and The Wilkes Company have broken ground on the 234-unit 440 K, a 14-floor residential building located at Mount Vernon Place, a mixed-use development in Washington, D.C. The building will include 9,000 square feet of ground-floor retail space and amenities such as a fitness center, tranquility garden with an outdoor fireplace and a rooftop terrace with a resort-style swimming pool, a fire pit, grilling areas and a community lounge. Completion is slated for the fourth quarter of 2013.
RALEIGH, N.C. — Blue Heron Capital has purchased the 216-unit Pine Winds Apartments, located at 1301 Pinewinds Drive in Raleigh, for $13.88 million. Amenities include a clubhouse with WiFi and coffee bar, fitness center, swimming pool with sun deck and a fishing pond. Don Waters of Drucker & Falk represented the buyer in the transaction.
OAKLAND PARK, FLA. — A 110,989-square-foot Kmart, located on E. Oakland Park Blvd. in Oakland Park, has sold for $11 million. Douglas Mandel and Alan West of Marcus & Millichap's Fort Lauderdale, Fla., office represented the seller, a local property owner, in the transaction. Kmart has less than 5 years remaining on its lease.
SPARTANBURG, S.C. — LNR Properties has sold the 116-unit Timbercreek Apartments, located at 501 Camelot Drive in Spartanburg, through Auction.com to Upstate Property Rentals for $2.65 million. Mike Fowler and Jim Davis of Brown Investment Properties represented the seller in the transaction.
BIRMINGHAM, ALA. — Beech Street Capital has arranged a $4.5 million Fannie Mae conventional loan to refinance the 120-unit Bentwood Apartments, located at 2601 Evergreen Drive in Birmingham. Chad Hagwood of Beech Street's Birmingham office arranged the 10-year loan with a 30-year amortization schedule.
WAUKESHA, WIS. — Milwaukee-based developer Mandel Group has purchased Rivers Edge Apartments, a 340-unit community in downtown Waukesha. Rivers Edge Equity, an affiliate of the Mandel Group, completed the transaction. The company did not release the sales price of the property, but industry sources cite the transaction at $29.5 million. The seller consists of three companies formed by Waukesha-developer Bryce Styza: Rivers Edge of Waukesha LP, Rivers Edge II LLC and Rivers Edge III LLC. Mandel Property Services will manage Rivers Edge and the new owner is planning to invest in property upgrades. Mandel was attracted to the property because it is in walking distance of shopping, services and entertainment.
WAUKEGAN, ILL. — Brown Paper Goods is expanding its operations and has leased 26,642 square feet of industrial space within a 180,000-square-foot building at the Amhurst Lakes Business Park in Waukegan. Brown Paper Goods manufactures and distributes specialty paper bags and sheets for the food industry. The building is located at 3630 Burwood, which is close to the company's headquarters in the business park. Whit Heitman, Sam Badger and Brad Weiner of Paine/Wetzel/TCN Worldwide represented the landlord, Prudential, in the transaction. Ryan Bain of CBRE represented the tenant.