GOODYEAR, ARIZ. — Mountain Ranch Medical Commons, an 18,000-square-foot, Class A medical office facility, is going to be developed within the mixed-use, master-planned community of Goodyear. It will reside on 5.3 acres. The official groundbreaking is scheduled for fall 2012 with a mid-2013 opening date. Mountain Ranch is being developed by Irgens. The land inside Estrella was purchased from Newland Communities, while Banner Health will serve as the anchor medical tenant. It is being designed by architect 33 North. Bruce Campbell of CBRE is serving as the listing broker for the balance of the project.
SHERWOOD, ORE. — U-Haul has purchased a 60,000-square-foot facility in Sherwood from Tercek Properties for $3.6 million. The company plans to use this space as a full-service facility with storage, vehicle rentals and trailer hitch installation. The sale was brokered by Scott Finney of Norris & Stevens.
MESA, ARIZ. — Falcon Commerce Park, a 33,340-square-foot, two-building industrial project in Mesa, has sold to L’Argent LLC for $1.9 million. The park is located at 1656 North Banning and 1655 North Rosemont. L’Argent was represented by Mike Parker of Colliers. The seller, Arizona Graystar Return, LLC, was represented by Paul Boyle and Rick Danis of Cassidy Turley BRE Commercial’s Capital Markets Group.
JACKSONVILLE, FLA. — Inland Real Estate Acquisitions has purchased the 40,207-square-foot The Shops at Julington Creek, located at 12807 San Jose Blvd. in Jacksonville, for $8.8 million. The Fresh Market anchors the center, and additional tenants include Hurricane Grill & Wings, Metro Diner and Sprint. The buyer was self-represented in the transaction by Mark Consenza.
PORT RICHEY, FLA. — A partnership between Deerfield Beach, Fla.-based Konover South and Miami Beach, Fla.-based Argate Properties has plans to retrofit a 100,000-square-foot building, located on U.S. Highway 19 in Port Richey. The $4.5 million project will include a 65,000-square-foot Burlington Coat Factory and a 25,000-square-foot hhgregg. Completion is slated for October 1 of this year.
VIRGINIA BEACH, VA. — Olympia Development Corp. plans to invest $2.92 million in capital improvements at a 126,000-square-foot office building, located at 5701 Cleveland St. in Virginia Beach. Additionally, AMSEC has signed a 10-year, 63,000-square-foot lease to occupy half of the building for its corporate headquarters.
NAPLES, FLA. — The 12,500-square-foot former Gates McVey office building, located at 12810 Tamiami Trail N. in Naples, has sold for $2.02 million. Dave Wallace of CRE Consultants represented the buyer, Ferrari Partners LP., in the transaction. The seller was Fifth Third Bank.
DAYTONA BEACH, FLA. — NorthMarq Capital has arranged $3.56 million in first mortgage refinancing for the 122-room Residence Inn by Marriott, a limited service hotel located at 1725 Richard Petty Blvd. in Daytona Beach. Robert Hernandez of NorthMarq's Tampa office arranged the 10-year loan with a 25-year amortization schedule on behalf of the borrower, Oceanside Two LLC, through a CMBS lender.
COLUMBUS, OHIO — Crews lifted the final beam into place for the $1.1 billion James Cancer Hospital and Solove Research Institute and Critical Care Center, located on the Ohio State University medical campus. When complete in 2014, the 21-story hospital will be one of the 15 tallest hospitals in the nation. The Wexner Medical expansion is the largest expansion project in OSU's history. The project is slated to create 6,000 permanent research and healthcare professional positions.
MINOT, N.D. — CBL & Associates Properties has acquired the 622,000-square-foot Dakota Square Mall in Minot, from the New York City-based Lightstone Group. The single-level mall is anchored by a nine-screen Carmike Cinema, Herberger's, JCPenney, Sears, Target and Barnes & Noble. The center generated sales of $470 per square foot for the 12 months ending on March 31 and was 94 percent occupied at the time of the sale. Dakota Square Mall was acquired for $91.48 million, including the assumption of a $59 million loan, which matures in November 2016 and bears a fixed interest rate of 6.23 percent. Savills represented the seller in the transaction.