ANOKA, MINN. — Brian Hennen of NorthMarq Capital's Minneapolis office arranged $4.8 million for the refinancing of Terrace Hill Apartments in Anoka. The 63-unit property is located at 14320 Dysprosium St. NW. AmeriSphere Mortgage Finance provided the 35-year loan, which has a 35-year amortization schedule.
WESTLAND, MICH. — Dollar Tree has signed a new 10,000-square-foot lease in Wildwood Plaza, located at 34250 Ford Rd. in Westland. Jack Uhazie of the West Bloomfield, Mich. office of Mid-America Real Estate-Michigan represented the tenant in the transaction. Adam Goodman of Mid-America Real Estate-Michigan represented the landlord, Wildwood Properties, in the transaction.
PARSIPPANY, N.J. — Cole Real Estate Investments has acquired a 176,000-square-foot office property in Parsippany for $53 million. The building is located at 8 Sylvan Parkway and serves as the global headquarters for the Medicines Cos. The pharmaceutical firm has 12 years remaining on its lease. Cole was represented in-house by Robert Corry. Kevin Welsh of CBRE's Saddle Brook, N.J. office represented the seller, The Hampshire Cos.
WASHINGTON COUNTY, PA. — Mylan Inc. plans to build a new 280,000-square-foot headquarters at Southpointe II in Washington County, Pa. The five-story office building will be located on Town Center Boulevard near its current headquarters. The building is expected to be completed in 2013. Mylan, a pharmaceutical company, has doubled its number of employees in the last five years and will use the new space to expand operations.
NEW YORK CITY — A mixed-use property at 304 Bleecker St. has sold for $5.7 million in the Greenwich Village area of New York City. John Stewart of Marcus & Millichap's Manhattan office represented the seller, a private investor. Shlomo Manne, also of the firm's Manhattan office, represented the buyer, a partnership.
ROWLETT — American Realty Capital — Retail Centers of America has entered into an agreement to purchase the 105,861-square-foot Liberty Crossing Shopping Center, located in Rowlett, for $22.2 million, excluding closing costs. The property is 95 percent leased to 16 tenants, which include Ross Dress for Less, PetSmart and Dollar Tree. In addition, the buyer recently broke escrow and issued shares of common stock to American Realty Capital IV, its sponsor, which purchased $2 million of the company's stock.
CARROLLTON — Dallas-based Stroud Properties has plans to develop a neighborhood of seven 8,500-square-foot assisted living residences, located on a 7.5-acre site near the intersection of East Hebron Parkway and Josey Lane in Carrollton. The $12 million project will serve a total of 64 assisted living residents and 48 Alzheimer's and dementia care residents. Each residence in the community will feature 16 bedrooms with private bathrooms, a salon and an enclosed backyard with walking paths and fountains.
AUSTIN — Houston-based Valencia Group has broken ground on the 123-room Lone Star Court, an Americana roadside hotel located at the Domain in Austin. The Domain is a mixed-use development that will span approximately 8 million square feet upon completion. The hotel will mix nostalgia and high-tech concepts with amenities such as an outdoor fire pit, a dipping pool reminiscent of swimming holes in Texas' Hill Country, a 1,800-square-foot open air lawn, a 1,600-square-foot outdoor pavilion, 2,000 square feet of interior meeting space, a restaurant and a bar. The new hotel is a throwback to the heyday of the roadside motor court experience. Jim Suggs of Dallas-based RTKL Associates is the lead architect, Lauren Rottet of Houston-based Rottet Studio is the lead designer and Christine Ten Eyck of Austin-based Ten Eyck Landscape Architects is the landscape architect. The hotel is slated for an early 2013 opening.
PLANO — H Mart has leased 72,267 square feet of anchor space at Parker Towne Centre, a community shopping center located at 3220 K Ave. in Plano. The shopping center will be rebranded as the Super H Mart Towne Centre. Sungju Choi of Carrollton-based Dallas Realty represented the tenant in the lease transaction. The landlord, Dallas/Fort Worth-based Retail Plazas, was self-represented by Cory McCord and Earl Harris of The Weitzman Group's Dallas office.
GARLAND — Addison-based Razzoo's has opened a new 6,500-square-foot Razzoo's Cajun Cafe at the Firewheel Town Center, an open-air shopping center located on the northeast corner of the President George Bush Turnpike and Highway 78 North in Garland that features anchors Macy's, Dillard's and an AMC Movie Theatre. The restaurant is the company's 14th location in Texas. Dallas-based Zero 3 designed the restaurant while Lewisville-based Strong Group served as the contractor. Brian Glaser of The Weitzman Group's Dallas/Fort Worth office represented the tenant in the lease transaction.