AUBURN HILLS, MICH. — Prefix Corp. has purchased a 129,562-square-foot retail space at 3500 Joslyn Road in Auburn Hills for an undisclosed amount. The building formerly housed a K-Mart. Paul Hoge and Jim Montgomery of Signature Associates represented the buyer in the transaction. Hoge also represented the seller, TD Joslyn Rd. LLC.
WAUKEGAN, ILL. — Visual Pak Cos. has renewed its lease for 111,182 square feet at 1817 Waukegan Road within the Amhurst Lake Business Park in Waukegan. The packaging provider chose to remain at the industrial facility due to its close proximity to Visual Pak's headquarters building. Whit Heitman, Samuel Badger and Brad Weiner of Paine/Wetzel/TCN Worldwide represented the tenant in the transaction. They also represented the landlord, Prudential Real Estate.
NEW YORK CITY — The Brooklyn Navy Yard Development Corp. plans to invest $46 million to build a manufacturing center in the Navy Yard, which will focus on environmentally friendly tenants. The company recently announced two anchor tenants — Crye Precision and Macro Sea. Crye designs and manufactures body armor and apparel for the U.S. armed forces. The company received $1 million in funding to expand its current operations at the Navy Yard and agreed to lease 80,000 square feet. Macro Sea, a real estate developer, will lease more than 50,000 square feet for a new facility called New Lab. The space will promote innovative design and incorporate universities and businesses in a collaborative workspace. The Green Manufacturing Center will be housed in three former World War II-era machine shops. Major construction is set to begin this summer and will take approximately 18 months to complete.
PITTSBURGH — Cushman & Wakefield and Grant Street Associates have released plans for a 90,000-square-foot office building on the final lot at McCandless Corporate Center, a 322,000-square-foot office complex in Pittsburgh. Complex owner Zell Two Inc. is seeking to add a fifth building due to the rising demand for space at the center. Occupancy at McCandless Corporate Center has risen from 70 percent in 2009 to 99 percent at the end of the first quarter of this year. Construction of the building will follow the lease commitment of an anchor tenant and is slated to take approximately 18 months to complete.
TAUNTON, MASS. — Allergy & Asthma Care PC has purchased a 5,500-square-foot medical office condominium at 101 Industrial Park Road in Taunton for $1.5 million. The practice is relocating from Northwoods Medical Center in Taunton. Catherine Minnerly and Ovar Osvold of NAI Hunneman represented the seller, Myles Standish Medical Center, in the transaction. They also procured the buyer.
ANDOVER, MASS. — Rockstar Games has signed a lease for 21,503 square feet of office space at 3 Dundee Park in Andover. Rockstar, one of the world's largest video game companies, is relocating from 300 Ballardvale St. in Andover and expanding its space in the 145,000-square-foot office park. The company's move-in date is targeted for August. Mitchell Jacoby of Cresa Boston represented the tenant in the transaction. The landlord, Ozzy Properties, was represented in-house by Orit Goldstein and Ellen Keller.
CRANBERRY TOWNSHIP, PA. — Development Capital Investors has secured a $1.9 million loan from the Commonwealth Financing Authority to develop a 90,000-square-foot office building in Cranberry Township. The three-story facility will be constructed on a six-acre parcel of land owned by The Elmhurst Group. The site is located within 20 minutes of downtown Pittsburgh and will include 363 parking spaces. The project is expected to create at least 300 construction jobs.
DALLAS — Germany-based Victory Park UST Joint Venture I is partnering with Trademark Property Co. to plan and execute the redevelopment of its retail holdings in the southern district of Victory Park, a 75-acre mixed-use development located in downtown Dallas. Trademark will develop and implement a merchandising and leasing strategy for the ground floor retail space and undeveloped land along Victory Park Lane, the ground floor retail space in The Cirque and the 436,000-square foot One Victory Park, a 20-story Class A office building. The property is managed by Orlando, Fla.-based Estein & Associates USA.
HOUSTON — Investcorp has acquired an interest in four adjacent multifamily properties, located in the Copperfield master-planned community in northwest Houston. The four properties total 1,076 units and are currently 95 percent occupied. The portfolio has also recently undergone a $6 million renovation. The seller, MHP Investments, will retain an interest in the portfolio. Investcorp financed the transaction with 10-year, fixed-rate loan.
RICHARDSON — Institutional Property Advisors (IPA) has arranged the sale of the 440-unit AMLI at Breckinridge Point, a 426,390-square-foot luxury multifamily community located at 4250 E. Renner Road in Richardson. Will Balthrope and Drew Kile of IPA represented the seller, Chicago-based AMLI Residential Properties, in the transaction. Los Angeles-based JRK Property Holdings was the buyer. The property is currently 95 percent occupied. IPA is a recently formed multifamily brokerage division of Marcus & Millichap.