WASHINGTON, D.C. — Jamestown Properties has acquired a 171,000-square-foot office building, located at 733 10th St. in Washington, D.C., from Skanska for $140 million. The LEED Gold certified property also includes 1,800 square feet of ground-level retail space. Amenities include a fitness center, a landscaped third-floor outdoor terrace, a tenant-only rooftop terrace, concierge services, on-site property management and secure underground parking. Eastdil Secured represented the seller in the transaction.
FRANKLIN, TENN. — Denver-based Amstar has sold the 175,262-square-foot McEwen Building, an office building located at 1550 McEwen Dr. in Franklin's Cool Springs submarket, to Newport Beach, Calif.-based KBS Reit III for $40 million. The building is 97 percent leased to tenants that include Renal Advantage, Mars Petcare, Raymond James, Carlisle Cos. and Cisco Systems. Don Albright of Nashville, Tenn.-based Cushman & Wakefield/Cornerstone represented the seller in the transaction. The buyer was self-represented.
PALM BEACH, FLA. — Palm Beach-based AW Property Co. and Dallas-based MedProperties Holdings have acquired a four-property medical office building portfolio in Florida from Healthcare Realty Trust for $33.4 million. The properties total 238,071 square feet and include Countryside Medical Arts in Safety Harbor, St. Andrews Medical Park in Venice, Bonita Bay Medical Centre in Bonita Springs and Southwest Plaza in Fort Myers. AW Property Co. will lease and manage the six buildings. GE Capital provided part of the acquisition financing. Healthcare Real Estate Capital acted as an intermediary for the buyers in the transaction.
PORT ROYAL, S.C. — Olympus Property has purchased the 400-unit Preserve at Port Royal, an apartment complex located at 1 Preserve Ave. W. in Port Royal, for $31.25 million. Amenities include a free YMCA membership, fitness center, two swimming pools, a business center, an internet lounge with coffee bar, walking trails, a pool-side cabana with grills and a playground. Jim Sewell and Steve Mack of Hilton Head, S.C.-based Coastal Apartment Advisors represented the seller, Preserve at Port Royal LLC, in the transaction.
ATLANTA — NorSouth Constructs has started construction on the 48-unit Betmar Village, a seniors housing property located in the Betmar LaVilla community at 345 Ashwood Ave. in Atlanta. National Church Residences is the developer for the project. HUD provided a $3.9 million 202 Elderly Housing Grant for construction of the property, and the Georgia Department of Community Affairs is providing 4 percent tax credits and Invest Atlanta is issuing tax-exampt bonds.
MINNEAPOLIS — A partnership between Invesco and Zeller Realty Group has acquired the Fifth Street Towers in Minneapolis at auction for $110 million. The purchase of the towers, which span 1.1 million square feet, was completed at a foreclosure auction held last month at the Hennepin County Sheriff's office. The sale price was $1 more than the credit bid offered by the lender foreclosing the property. Located at 100 and 150 S. Fifth St., the property is about 65 percent occupied. Zeller will manage the buildings.
OLMSTED FALLS, OHIO — Vitamix has broken ground on a $10 million, 51,000-square-foot expansion of its world headquarters in Olmsted Falls, a suburb of Cleveland. The manufacturer of blending equipment has doubled its workforce during the last few years to nearly 500 people. Vitamix expects to add 100 workers this year. The company has also increased international exports by 80 percent in the past three years.
DES MOINES, Iowa — Metonic Real Estate Services, an entity formed by the Silverman family of Omaha, has purchased West Glen Town Center in Des Moines for $34.5 million. The property was in receivership at the time of sale with two different receivers. The mixed-use development was built in two phases in 2006 and 2008. The center includes 418,000 square feet of retail as well as office space and 123 apartments. Ember Grummons of Investors Realty represented the buyer. The Silverman family owns mutlifamily properties and other developments in the Midwest. Through Metonic, the family plans to attract additional retailers to the site, which is 60 percent occupied in the commercial and office spaces. World Group Commercial Real Estate will manage the center.
SALINA, KAN. — Red Mortgage Capital has arranged an $11.8 million Fannie Mae loan for Eaglecrest Retirement Community in Salina. The 102-unit community includes 62 independent living and 40 assisted living units. Midwest Health, which owns 43 senior living communities throughout the Midwest, acquired Eaglecrest last month.
LIVONIA, MICH. — Longacre LLC has purchased a 14,600-square-foot industrial building in Livonia, a Detroit suburb, for $435,000. Located at 11965 Brookfield, the facility was built in 1973 and remodeled in 2000. The building includes 1,800 square feet of office space. Tony Avendt of Grubb & Ellis represented the seller, First Industrial LP, in the transaction.