SOUTH BEND, IND. — Boston-based Stag Industrial Inc. has acquired a warehouse and distribution facility in South Bend for $6.8 million. The 225,000-square-foot building was constructed in 1994 and is fully leased. The acquisition brings Stag's total acquisition volume to approximately $139.1 million since its initial public offering in April 2011.
EDEN PRAIRIE, MINN. — HFF has arranged $32.5 million in financing for the Eden Prairie headquarters of UnitedHealth Group's health services business, Optum. Bank of America Merrill Lynch provided the 10-year, fixed-rate loan. The 473,325-square-foot property is fully leased to UnitedHealth Group. Brandon Chavoya, Coler Yoakam and Mark West of HFF's Dallas office led the HFF team in the deal. The property is located at 13625 Technology Dr.
MAYWOOD, ILL. — A London-based private investor has purchased a triple-net leased White Castle property in Maywood for $838,700. White Castle is the sole occupant of the 1,400-square-foot retail building, which is located at 211 W. Roosevelt Rd. The company has 10 years remaining on its lease. Randy Blankstein and Jimmy Goodman of the Northbrook, Ill. office of The Boulder Group represented the seller, a Chicago investment firm.
BROOKFIELD, WIS. —Wisconsin-based Wimmer Communities has received a $9.2 million first mortgage loan for Foxhaven Apartments in Brookfield. The property includes 128 units. Jim Cope and Debe Storts of the Milwaukee office of Grandbridge Real Estate Capital arranged the 10-year, fixed-rate loan through Freddie Mac.
YONKERS, N.Y. — The conversion of 19th-century row houses in Yonkers to 10 loft-style apartments with street-level shops is underway. The retail space will total 9,000 square feet. Edwin A Quick & Son, the firm that designed Yonkers City Hall, designed 50 Warburton Ave. The buildings will be restored to their circa-1900 appearance. L+M Development Partners is the project developer. The $10 million project is expected to be complete in spring 2013.
NEW YORK CITY — New York City-based Modell's Sporting Goods recently opened three new locations in New York and New Jersey. The company opened a 13,000-square-foot store at 61-09 190th St. in Fresh Meadows, N.Y. and a 15,900-square-foot store at 1584 Flatbush Ave. in Brooklyn. The third location is a 16,700-square-foot store at 1607 State Route 23 in Wayne, N.J. Modell's offers the top brands in sporting goods equipment, footwear and active apparel. The retailer operates 150 stores in the Northeast.
NEW LONDON, CONN. — A New England-based investor has purchased the Washington Street Apartments in New London for $2.6 million. The 29-unit apartment complex includes two parking lots, on-site laundry facilities and an exercise room. The building underwent a historic restoration in 2002. Laurie Ann Drinkwater of Marcus & Millichap's New Haven office and Seth Richard of the firm's Manhattan office represented the seller, a New York-based investor. They also represented the buyer.
LIVINGSTON, N.J. — Mark Scott of Commercial Mortgage Capital's Livingston, N.J. office has negotiated $34 million in permanent mortgage financing for three multifamily properties in New Jersey. One property is a two-story apartment complex containing 612 units in Middlesex, N.J. Scott arranged the $20 million loan through a national insurance company. Scott also arranged 10-year loans for a 65-unit building in Berkeley Heights, N.J. and a 74-unit property in Springfield, N.J.
BILLERICA AND TEWKSBURY, MASS. — Brookwood Financial Partners has executed leases for 110,923 square feet at the Brookwood Business Center in Billerica and Tewksbury, Mass. Potpourri Group inked a 72,000-square-foot lease for its corporate headquarters and DGI-Invisuals LLC signed a lease for 38,923 square feet. Neil Ross and Greg Zais of Jones Lang LaSalle represented Potpourri in the transaction, while Sam Oddo of Oddo Inc. represented DGI. Richards Barry Joyce & Partners represented Brookwood.
DALLAS — Marcus & Millichap has arranged the sale of the 506-unit Trinity Palms, a 411,884-square-foot apartment complex located at 9690 Forest Lane in Dallas. The complex consists of 64 buildings and has amenities that include a fitness center, swimming pools, a clubhouse and an after-school program area. Al Silva of Marcus & Millichap's Fort Worth office represented the seller, an El Paso-based partnership, and procured the buyer, a private investor based in Texas.