CLEVELAND — Canton-based King Pin LLC has sold a Family Dollar Store in Cleveland for $1 million. Built in 2007, the 9,160-square-foot building is located at 3470 E. 93rd St. Family Dollar has about 4 years remaining on its lease. Dan Cooper of the Cleveland office of Cooper Commercial Investment Group represented the seller in the transaction. He also secured the buyer, a private group from California.
ST. LOUIS, MO. — Centerline Capital Group has arranged an $11.4 million Fannie Mae loan to refinance the Woodchase Apartments in St. Louis. Built in 1984, the property includes 17 two- and three-story residential buildings and a single-story office. The property has a total of 186 units. The 10-year loan has a 30-year amortization schedule. The borrower is Woodchase Village LLC.
WATCHUNG, NORTH PLAINSFIELD, N.J. — Windsor at Crystal Ridge, a Class A apartment complex in Watchung and North Plainfield has sold for $63 million. The 334-unit complex is located on 25 acres at 1 Crystal Ridge Dr. of Route 22. The property has 15 three-story buildings with one-, two- and three-bedroom units. Amenities include a clubhouse, fitness center and indoor basketball court. Jose Cruz, Andrew Scandalios, Kevin O'Hearn, Jeffrey Julien and Steve Simonelli of HFF represented the seller, GID Investment Advisors LLC, in the transaction. They also procured the buyer, AvalonBay Communities.
BOSTON — Suffolk Construction has been selected to build a $21.5 million bioprocessing center at the University of Massachusetts Dartmouth. Located on a four-acre site 10 miles off campus, the 38,000-square-foot facility will serve as an incubator space for small life science companies in Fall River's SouthCoast BioPark. Companies can test their biomanufacturing processes in the facility while paying a monthly rent that is lower than traditional lab space. The facility will include a variety of laboratories such as research, development, training and quality control. The project will also include a warehouse area, lecture rooms and office space. Construction is expected to begin this April. The project is slated for completion in 2013.
NEW YORK CITY — The Watchtower Bible and Tract Society of New York Inc. has sold 161 Columbia Heights, between Clark and Pierrepont streets, for $3 million. Built in 1988, the apartment property contains more than 7,000 square feet. Bob Knakal and Stephen Palmese of Massey Knakal represented the seller and undisclosed buyer in the transaction.
BOSTON — Genzyme Corp., a biotechnology company, has signed an 82,490-square-foot lease renewal at 55 Cambridge Pkwy. in Boston. 55 Cambridge is a 275,000-square-foot, Class A office building, located on the Charles River. Joe Fallon of Cassidy Turley FHO represented the tenant in the transaction. John Miller of Lincoln Property Group represented the landlord, Invesco.
NEW YORK CITY — Pier 1 Imports is opening a new store in the Upper East Side. The home furnishings store signed a 17,5140-square-foot lease at 1110 Third Ave. The store will be Pier 1 Imports' second location in Manhattan. Jerry Welkis of Welco Realty represented the tenant in the transaction. Robert Futterman, Beth Rosen and Jackie Totolo of RKF represented the owner of the retail condominium, The Related Cos.
NEW BRAUNFELS — Construction has commenced on the 84-acre Resolute Health Wellness Campus, a medical campus located adjacent to Creekside Town Center at the intersection of FM Road 306 and FM Road 1101 in New Braunfels. The development will include a 190-bed hospital, an urgent care center, fitness and spa centers, health-minded shops, healthy dining and green spaces. Construction is expected to be complete in 2013. Resolute Health will also open its Family Urgent Care Center on April 3 at Creekside Town Center, located at 160 Creekside Way, Suite 602 in New Braunfels. Creekside was developed by Houston-based NewQuest Properties and Cedar Falls, Iowa-based Lockard Cos.
CORPUS CHRISTI — Cedar Falls, Iowa-based Lockard Cos. has joined Dolphin Ventures and EWB Development to develop Phase I of The Outlets at Corpus Christi Bay, a 281,526-square-foot retail development located at the Interstate 69 corridor at Highway 44 in Corpus Christi. Lockard will be active in developing and constructing the property and EWB will co-develop, market and lease the project. The Outlets is slated for a late 2013 opening.
DALLAS — Hendricks & Partners has arranged the sale of the 360-unit Cliff Park Village, a multifamily property located at 220 E. Overton Rd. in Dallas. The property has recently undergone capital improvements. Peter Hartnett of Hendricks & Partners' Dallas office represented the seller, BACM 2007-2 Cliff Park Apartments LLC, in the transaction. The seller is managed by San Francisco-based Helios AMC LLC. The buyer was New Orleans-based 220 Overton Apts. Dallas LLC.