Property Type

FORMER DISTRIBUTION CENTER TO BE CONVERTED INTO SPORTS COMPLEX

by admin May 30, 2012

LANCASTER, PA. — Sports Complex LP, an entity headed by former Auntie Anne's pretzels owner Sam Beiler, has purchased 2913 Spooky Nook Rd. in Lancaster. The 549,000-square-foot industrial facility was previously occupied by Armstrong Industries, which used the space as a distribution center for flooring products. The new owner plans to convert the property into a regional, youth-oriented sports complex. Gerard Blinebury, Leah Balerno, Pat McBride and Adam Cambell of Cushman & Wakefield represented the seller in the transaction. Tim Shreiner of Prudential H.S.G. Real Estate represented the buyer.

May 30, 2012

TRYKO BUYS GALILEE VILLAGE APARTMENTS IN PA.

by admin May 30, 2012

LEVITTOWN, PA. — Brick, N.J.-based Tryko Partners has acquired Galilee Village, a 170-unit apartment community at 17 Penn Valley Rd. in Levittown, which is within the Philadelphia metro area. The property is 98 percent occupied and provides HUD-subsidized apartment living for independent seniors. Congregation Beth El, which built the property, sold Galilee Village in an off-market transaction. Tryko plans to renovate kitchens and replace windows in each of the units and will upgrade sidewalks and parking lots.

May 30, 2012

Hospitality Northeast

NEW EXTENDED-STAY HOTEL TO OPEN IN ANDOVER

by admin May 30, 2012

ANDOVER, MASS. — A new extended-stay hotel brand will operate at 4 Tech Dr. in Andover. The hotel currently known as Staybridge Suites Boston-Andover will come under Sonesta International Hotels Corp. management July 25. The 133-room property will be renamed Sonesta ES Suites Andover. The hotel is located at the junction of Interstates 93 and 495, north of Boston. The property features a heated outdoor swimming pool, an exercise room and sports court.

May 30, 2012

Civic Northeast

TWO CHARTER SCHOOLS SET TO OPEN AT 570 BROAD STREET IN NEWARK

by admin May 30, 2012

NEWARK, N.J. — Two new charter schools, Newark Prep and Spirit Prep, are slated to open in September at 570 Broad St., a newly renovated landmark in downtown Newark. The schools will occupy four floors, totaling 60,000 square feet, in the 15-story building. Each school will combine rigorous college-prep and career readiness programs with online curriculum to serve the needs of Newark area students. The Berger Organization owns and manages the property.

May 30, 2012

Healthcare Texas

BROADSTONE NET LEASE ACQUIRES SIX MEDICAL OFFICES FOR $17.2M

by admin May 30, 2012

TEXAS AND OKLAHOMA — Broadstone Net Lease, a REIT managed by Broadstone Real Estate Services, has acquired six net-leased medical office properties for $17.2 million. The properties are located in Oklahoma and Texas, as well as Arkansas, Kansas and Kentucky.

May 30, 2012

Hospitality Texas

COURTYARD BY MARRIOTT SELLS FOR $15.25 MILLION

by admin May 30, 2012

ARLINGTON — Summit Hotel Properties has acquired the 103-room Courtyard by Marriott in Arlington for $15.25 million. The price also includes planned property improvements.

May 30, 2012

Industrial Texas

GO INDUSTRIES ACQUIRES INDUSTRIAL COMPLEX

by admin May 30, 2012

RICHARDSON — Go Industries has purchased a four-building, 39,602-square-foot industrial complex, located at 909 N. Bowser Road in Richardson. Kevin Santaularia of Dallas-based Bradford Commercial Real Estate Services represented the buyer in the transaction. The seller was Atlas Copco Compressors.

May 30, 2012

Office Western

HILLSBORO OFFICE BUILDING SELLS FOR $2.4M

by admin May 30, 2012

HILLSBORO, ORE. — An office building located at 3000 NW Stucki Pl in Hillsboro has sold to UPM Property No. 20, LLC for $2,425,000. UPM was represented by Charlie Floberg of Norris Beggs & Simpson. The seller, JP Morgan Chase, was represented by Kevin Wingate-Pearse and John Brandhorst of Sperry Van Ness | Bluestone & Hockley.

May 30, 2012

Office Western

OFFICE BUILDING IN ORANGE TRADES HANDS

by admin May 30, 2012

ORANGE, CALIF. — A 10,000-square-foot office building located at 1010 West Chapman Ave. in Orange has sold to a team of private investors from Santa Ana, Calif., for an undisclosed sum. The building was 40 percent leased at the time of sale. The buyer was represented by Juve Pinedo of Rancon Real Estate. The seller, a private investor, was represented by Chris Deason of Voit Real Estate Services.

May 30, 2012

Retail Western

GUITAR CENTER TO OPEN AT HILLSDALE SHOPPING CENTER

by admin May 30, 2012

SAN MATEO, CALIF. — Guitar Center is opening a new 14,526-square-foot location at the Hillsdale Shopping Center in San Mateo this summer. Nordstrom, Macy's and Sears also reside at the shopping center, which is owned by Bohannon Development Company. Guitar Center was represented by Patrick McGaughey and James Chung of Terranomics Retail Services.

May 30, 2012

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