SUITLAND, MD. — Meridian Capital Group has arranged $16.3 million in acquisition financing for the 315-unit Parkway Terrace Apartments, located at 3415 Parkway Terrace Dr. in Suitland. Jacob Katz of Meridian's Bethesda, Md., office secured the 10-year loan with 2.5 years of interest only through Beech Street Capital.
MANASSAS, VA. — A 5,000-square-foot Uno's Chicago Grill, located at 10701 Bulloch Dr. in Manassas, has sold for $1.3 million. The property is leased to Uno's on a long-term, triple-net basis. Joe Pfahler of Fredericksburg, Va.-based Silver Commercial Brokerage represented the seller in the transaction and Rick Fernandez of Calkain Cos.' Reston, Va., office represented the buyer.
BALTIMORE — St. John Properties’ 71,000-square-foot headquarters building, located at 2560 Lord Baltimore Dr. in Baltimore, has received LEED Gold certification. The two story property includes green features such as a high-efficiency HVAC system, high performance windows, sustainable lavatory fixtures, a white thermoplastic polyolefien roofing system, wetland/forest preserves, drought-tolerant landscaping and low VOC paints, carpets and adhesives. The building is St. John Properties’ 14th project to receive LEED certification.
ALSIP, ILL. — Meridian Design Build has been selected as general contractor for a 38-acre redevelopment project for Polmax Transportation at 122nd and Centeral in Alsip. Demolition is currently underway at the site, previously home to an auto auction mall. The project includes a 150,585-square-foot cross dock facility that will include truck maintenance and repair bays, a truck wash and 20,000 square feet of corporate offices. areté-Knight is providing architectural services and Hoefferle-Butler is completing the engineering work.
PORTAGE, IND. — Fronius USA has selected Holladay Properties and Holladay Construction Group to design and construct the company's new headquarters in Portage. The company develops and manufactures battery charging systems. The 399,500-square-foot project will include 20,000 square feet of office space, as well as the construction of a welding shop and service center for Fronius' products. Holladay Construction will serve as the general contractor and Holladay Properties will complete the design work. Construction is expected to wrap up this September.
BIRMINGHAM, MICH. — Walgreens plans to open a new location at the former Borders Books & Music site in Birmingham. The drugstore retailer will occupy the ground floor and second floor of the building, located between East Maple and West Beaver roads. Michigan-based Lormax Stern managed the deal and the approval process. Brad Rosenberg and Susan Acciaiolli of Mid-America Real Estate represented the landlord, Related Birmingham LLC, in the deal.
SKOKIE, ILL. — Turner Acceptance Corp., an auto loan company, has leased 40,816-square-foot at 4900 Howard in Skokie. The company is relocating from a smaller facility in Evanston. Whit Heitman, Sam Badger and Brad Weiner of Paine/Wetzel/TCN Worldwide represented the landlord, Walker Partners LLC, in the transaction. Baum Realty represented the tenant.
GLENDALE, CALIF. —Glendale-based Public Storage has purchased a six-property self-storage portfolio for $42 million. The portfolio consists of 517,000 square feet and 5,500 storage units. The properties are located in Philadelphia; Wayne, N.J.; Randolph, Mass.; Montclair, Calif.; and Pompano Beach and Hialeah, Fla. The portfolio is currently 65 percent occupied. Marc Boorstein and Jeff Jacobson of MJ Partners represented the seller, Babcock and Brown and four lenders, in the transaction.
DANVERS, MASS. — Danvers High School in Danvers is undergoing an $82 million renovation, which is slated for completion this September. The 309,000-square-foot project will include the addition of a science wing, technical education rooms, a cafeteria and main entrance. Rhode Island-based Bacon Construction Co. is the general contractor for the project and DiNisco Design Partnership is providing architectural services. Coreslab Structures Inc. is the exterior cladding contractor for the project.
WOODBRIDGE, N.J. — Law firm Greenbaum Rowe Smith & Davis LLP has renewed its lease for 52,723-square-foot lease at Corporate Metro Center, located at 99 Wood Ave. S. in Woodbridge. The Corporate Metro Center is a Class A office building. Douglas Rowe of Colliers International New Jersey and Jackie Witmondt of Associated Realty represented the law firm in the transaction. Ed Duenes of Cushman & Wakefield represented the landlord, Cornerstone Real Estate Advisors.