MINNEAPOLIS — RockBridge Partners has purchased the University Hotel Minneapolis, a 304-room, full-service hotel. The new owner is planning a $14.8 million renovation and rebranding of the property. The project will begin this spring and include lobby enhancements, a new restaurant and lounge and an expanded fitness center. Guest rooms and corridors will also be refurbished. The hotel is the only full-service hotel on the University of Minnesota campus. Noble House Hotels and Resorts will manage the property.
CINCINNATI — Beauty care manufacturer Kao USA Inc. has signed a lease to relocate from its current corporate headquarters on Spring Grove Avenue to the 312 Plum St. building in Cincinnati. The company will occupy 55,000 square feet of the building. Kao also plans to renovate the Spring Grove Avenue facility, where the research and development and manufacturing facilities will remain. The company expects to move this summer.
ARLINGTON HEIGHTS, ILL. — Hamilton Partners has purchased 1615 W. Central, a 30,000-square-foot medical building from a private investor in Arlington Heights. Terms of the deal were undisclosed. Dan O' Neill of Cawley Chicago represented both parties in the transaction.
NUTLEY, N.J. — Balt Investments LLC has acquired a three-property multifamily portfolio in Nutley, for $15 million. The properties total 126 units and include Greylock Apartments, Lincoln Apartments and Ambassador Apartments. Jose Cruz, Andrew Scandalios, Jeffrey Julien, Kevin O'Hearn and Mike Oliver of HFF represented the seller, AIG Global Investment Group, in the deal. The portfolio is 94 percent leased.
BRIDGEWATER, N.J. — Synchronoss Technologies has relocated its corporate headquarters to Bridgewater Office Park, located at 200 Crossing Blvd. in Bridgewater. The technology company will occupy 80,000 square feet on the seventh and eighth floors of the building. Allan Greene of UGL Services' Iselin, N.J. office and Tadd Wisinski of the firm's New York office represented the tenant in the transaction. William McCaffrey and Jeffrey Heller of CBRE's Florham Park, N.J. office represented the landlord, Wells Real Estate Funds.
ENFIELD, CONN. — Grace & Glory Apostolic Church Inc. has purchased the former Nassau Furniture store, and an adjacent 18 acres of land in Enfield. The 27,000-square-foot building and parcel were sold for $1.8 million. Nicholas Morizio of Colliers International's Hartford, Conn. office represented both parties in the deal.
NEW YORK CITY — A luxury rental building located at 109 Gold St., on the border of Brooklyn's DUMBO and Vinegar Hill neighborhoods, has sold for $14.5 million. The newly constructed property contains 33 units and consists of 36,944 square feet. The property also includes 17 parking spaces and bike storage. Stephen Palmese of New York City-based Massey Knakal Realty Services represented the buyer and seller in the transaction.
DALLAS AND FORT WORTH — Dunkin' Donuts has partnered with former Dallas Cowboys quarterback Troy Aikman and Dallas Cowboys owner Jerry Jones to open 50 Dunkin' Donuts locations in the Dallas/Fort Worth area during the next 5 years. There are currently 19 restaurants in the north Texas area. Under the agreement, Dunkin' Donuts, Jones and Aikman will share ownership of the 50 new locations and 11 of the existing 19 locations. Dunkin' Donuts will operate all 69 locations, while Aikman, Jones and Dunkin' Donuts are jointly responsible for strategic planning, expansion and marketing.
PLANO — Newport Beach, Calif.-based KBS REIT III has purchased the 522,043-square-foot Town Center Office Park, a three-building office complex located at the intersection of Legacy Drive and the Dallas North Tollway in Plano. The complex is part of the 2,665-acre Legacy Town Center, a master-planned community. The office complex is 87.5 percent leased to 51 tenants. KBS was self-represented by Bill Rogalla in the transaction.
PLANO — The 138,514-square-foot Legacy Drive Village, a community shopping center located at the northeast corner of Legacy Drive and Independence Parkway in Plano, has been purchased. The buyer, an out-of-state pension fund, purchased the grocery-anchored center from Legacy Village Associates, a joint venture assembled by Cencor Realty Services. Kroger Signature anchors the center, which includes Mooyah Burgers & Fries, Einstein Bros. Bagels, Optical Zone, Subway, Rita's, AAA Texas, Dunkin' Donuts, Angelo Vito's, Fantastic Sams, Texas Family Fitness and Palm Beach Tan. The Weitzman Group will continue to market the center under the new ownership and Cencor Realty Services will manage the center.