NEW CASTLE COUNTY, DEL. — King of Prussia, Pa.-based Bolis Properties has agreed to sell the 220-unit Colony at Glasgow project to an undisclosed builder. The Colony at Glasgow is a mixed-use residential development in New Castle County. The community will include a mix of single-family lots and townhomes. Bolis has also agreed to sell its Appleview Apartment project to an undisclosed buyer. The 200-unit project will include a clubhouse and walking trails in East Brandywine Township, Pa.
PHILADELPHIA — Bottom Dollar Food has opened its 4th Philadelphia store at 7900 Roosevelt Blvd. The 19,600-square-foot store is located in the former Ilona Keller's Dugan Banquet Hall, which was built in the early 1960s. Soloff Realty & Development Inc. developed the property. Matthew Shanahan of Colliers International represented the landlord and Frameco Real Estate represented the tenant. Based in Salisbury, N.C., Bottom Dollar operates 1,650 grocery stores in 16 states.
AMHERST, MASS. — Love Funding has arranged a 6.5 million loan for the refinancing of Brandywine at Amherst Apartments, a 180-unit complex in Amherst. Laura Saull-Smith of Love Funding's Washington office arranged the loan through the U.S. Department of Housing and Urban Development's 223(a)(7) loan program. The complex was built in 1973 and has been refinanced by Love Funding twice before to secure a lower interest rate.
COLLEYVILLE — Fast-Track Construction has commenced building a 13,263-square-foot office building, located within The Village at Colleyville at 97 Village Ln. in Colleyville. The building will be the site of Jack Prewitt & Associates' new headquarters. The law firm will lease the third floor of the property. Four other tenants are planning to relocate their offices to the new building as well, including Corporate Aviation Analysis & Planning, Dallas Jet International, Helicopter Exchange Limited and Aircraft Transaction Facilitators. Realty Capital Management is managing the project on behalf of Jack Prewitt & Associates. The office building is slated for a fall 2012 completion.
DALLAS — Uplift Education has purchased an 85,386-square-foot office building, located at 2625 Elm St. in Dallas, from HRT Properties of Texas. The building will be redeveloped into a new secondary level charter school. Cincha Kostman and Sanober Syed of Dallas-based Hudson Peters Commercial represented the seller in the transaction. Eliza Solender of Dallas-based Solender/Hall represented the buyer.
PLANO — Atlanta-based Cortland Partners has acquired the 368-unit La Jolla on Park, a multifamily community located at 1201 E. Park Blvd. in Plano. The property consists of 23 buildings sitting on 21 acres and is 99 percent occupied. The buyer plans to upgrade the interiors and exteriors of the property.
AUSTIN — Atlantic/Pacific Co.'s has rebranded the 256-unit Logan's Mill Apartments, located at 1912 E. William Cannon in Austin, to The Atlantic/Logan's Mill. The apartment community features a community clubhouse, carports, a business center, a 24-hour fitness center, a swimming pool and a waterscape two-tier pool with a fountain.
COMMERCE, CALIF. — A 95,428-square-foot industrial property in Commerce has sold to American International Industries for $6 million. The property, which was vacant at the time of sale, is located at 6009-6041 South Malt Ave. American International plans to use this facility to expand its operations into Commerce. The company was represented by Jack Cline and Jeff Bethel of Lee & Associates. The seller, Hill’s Pet Nutrition, was represented by Frank Geraci, Walt Chenoweth and Juan Gutierrez of Voit’s Inland Empire office, and Brian McLoughlin and David Fults of the firm’s Commerce office.
FOLSOM, CALIF. – The 28-unit Rain Tree Apartments in Folsom has sold to a private investor for $2.84 million. The property is located at 1000 Sibley Street. Peter R. Flis and Eric Price of Marcus & Millichap’s Sacramento office represented both the buyer and the seller, another private investor, in this transaction.
HUNTINGTON BEACH, CALIF. – A 7,098-square-foot medical office building in Huntington Beach has sold to Harmelback, LLC (Beach Family Doctors Medical Group) for $2.48 million. The building is located at 9131 Adams Ave. Harmelback was represented by Allen Basso and Eric Darnell of Lee & Associates’ Irvine office. Dave Romero of the firm’s Newport Beach office and Bryan Lysne of Lee & Associates Investment Services Group represented the seller, Michael M. Khatibi, in this transaction.