BAXTER, MINN. — Eidco Construction has been selected to renovate the 260,725-square-foot Westgate Mall in Baxter, Minn. The 65,000-square-foot renovation project will include a building addition and exterior facade work. Tenants at the shopping center include Heberger's Department Store, Big Lots and Dunhams. The mall is located at 14136 Baxter Dr.
INDIANAPOLIS — Beech Street Capital has arranged a $10 million Fannie Mae loan for the acquisition of Emerson Lakes Village Apartments in Indianapolis. The 352-unit complex is currently 96 percent occupied. About 10 percent of the tenants attend Indiana University — Purdue University Indianapolis. Amenities include a pool, fitness room and playground. Barry Lefkowitz and Jay Jacobovitch of Meridian Capital Group originated the 10-year loan, which has a 30-year amortization schedule.
IRONWOOD, MICH. — Farmington Hills, Mich.-based Agree Realty Corp. plans to expand Miner's Super One Foods at its Ironwood Commons Shopping Center in Ironwood. The grocery store will be expanded from 35,000 square feet to 55,000 square feet. The project includes the elimination of in-line retail space, including Sears Hardware, to make way for the Miner's expansion.
LINCOLN, NEB. — The Physician Network (TPN) has signed a 25,597-square-foot office lease in the Assurity Center, located at 2000 Q St. in Lincoln. TPN is a subsidiary of Catholic Health Initiatives and the third-largest Catholic healthcare system. The company will occupy the fifth floor of Assurity Life Insurance Co.'s new 175,000-square-foot headquarters. Chris Vasek of the Lincoln office of NAI FMA Realty represented the landlord, Assurity Life Insurance Co., in the transaction. John Hyland, also of the firm's Lincoln office, represented the tenant.
PARSIPANNY, N.J. — Cole Real Estate Investments has acquired 8 Sylvan Wy. in Parsippany for $53 million. The 176,062-square-foot office building is located in the Mack-Cali Business Campus at 8 Sylvan Wy. The building serves as the global headquarters for The Medicines Co., a pharmaceutical company focused on the treatment of critical care patients. Jeffrey Dunne, Kevin Welsh, Steve Bardsley and Brian Schulz of CBRE's New York office and Sam Buckley of the firm's Saddle Brook, N.J. office represented the seller, The Hampshire Cos., in the transaction. The buyer was represented in-house by Robert Corry.
HAVERSTRAW, N.Y. — Marcus & Millichap Capital Corp. has arranged a $22.5 million loan for the refinancing of Parkside Apartments in Haverstraw. The 110-unit Parkside is part of a master-planned development on the Hudson River named Harbors at Haverstraw. The building is currently 70 percent occupied. Steven Rock of Marcus & Millichap's Manhattan office arranged the 5-year loan.
WILMINGTON, MASS. — The Federated Cos. has completed the sale of a 12-acre development site in Wilmington. Braintree, Mass.-based EA Fish Development acquired the site for $4.1 million. The land is located at the intersection of Route 38 and 62, adjacent to the Wilmington Commuter Rail station. The site is fully entitled for a mixed-income rental community consisting of 108 units and an enclosed 35 space parking garage. The Federated Cos. has completed demolition of the existing industrial building and the land is ready for immediate construction.
EDISON, N.J. — An affiliate of Angelo, Gordon & Co. has secured $11 million in acquisition financing for a research and development facility in Edison. The 99,260-square-foot facility is located at 2121 State Route 27. The building is fully occupied by Revlon Consumer Products Corp., which uses the space as its worldwide research and development center for all of its brands. HFF arranged the 10-year, fixed rate securitized loan through Morgan Stanley Mortgage Capital Holdings LLC.
ROSENBERG — Grubb & Ellis has brokered the sale of the 145,591-square-foot 235 Benton, an industrial property consisting of eight buildings and 35 acres of land located in Rosenberg. Beth Young, Henry Hagendorf and Frank Onorato of Grubb & Ellis' Houston office represented the seller in the transaction. The buyer was a private investor.
HOUSTON — Marcus & Millichap has arranged the sale of the 36,000-square-foot Gardendale Warehouses, an industrial property located at 5707 Gardendale Drive in Houston. Andrew Jewett of Marcus & Millichap's Houston office represented the seller, a Texas partnership, in the transaction and secured the buyer, a private investor.
