BIRMINGHAM, ALA. — HP Hotels has sold the 130-room Hilton Garden Inn, Liberty Park, located at 2090 Urban Center Pkwy. in Birmingham, and the 95-room Hilton Garden Inn, Wildwood, located at 520 Wildwood Circle Dr. in Birmingham, to Summit Hotel Properties for $22.1 million. Helen Zaver of Marcus & Millichap's Atlanta office represented the seller in the transaction.
CAPE CORAL, FLA. — A 20,695-square-foot charter school building, located at 2107 & 2119 Santa Barbara Blvd. in Cape Coral, has sold for $2.29 million. Dan O'Berski of Fort Myers, Fla.-based Trinity Commercial Group represented the seller, 2103 SBB Cape Coral, in the transaction. Randal Mercer and Brandon Stoneburner of CRE Consultants' Fort Myers, Fla., office represented the buyer, CDW 10995 Metro Pkwy.
COVINGTON, GA. — StampTech has purchased a 60,146-square-foot industrial building, located at 40 Pinyon Rd. in Covington, from Pinyon Road LLC for $1.05 million. David Barber and Dan Stubbs of Binswanger's Atlanta office represented the buyer in the transaction. Steve Kise of King Industrial Realty's Suwanee, Ga., office represented the seller.
INDIAN LAND, S.C. — York Development Group has selected Benning Construction Co. to build a 49,000-square-foot Publix at Cross Creek Shopping Center, located on Doby's Bridge Rd. in Indian Land, a suburb of Charlotte. In addition to Publix, Phase I of Cross Creek will include 30,000 square feet of retail space. Completion is slated for fall of this year.
ARLINGTON, VA. — HFF has arranged a $71.1 million construction loan for the 257-unit The Place, a Class A multifamily development located at 4000 Wilson Blvd. in Arlington. Sue Carras, Brian Crivella and Walter Coker of HFF's Washington, D.C., office, arranged the financing through a major national bank on behalf of the borrower, Ashton Park Associates III, an affiliate of the Shooshan Co. Completion is slated for 2013.
WAUSAU, WIS. — Wausau-based Lokre Cos. has negotiated the $1 million sale of a 21,930-square-foot retail building in Wausau. Victor Anderson of Lokre Cos. represented the buyer, RS Holdings, in the transaction. Patrick Gallagher and Matson Holbrook of Siegel-Gallagher represented the seller.
MINNEAPOLIS — U Save Foods, a subsidiary of Minneapolis-based food distributor Nash Finch Co., has agreed to buy Bag 'N Save supermarkets in Omaha and York, Neb. While terms of the deal were undisclosed, the buyout will give Nash Finch 11 Bag 'N Save stores in the Omaha area and one in York. The deal is expected to close in the second quarter. Bag 'N Save is a family grocery chain founded in 1981.
CHICAGO — Kennedy Funding has arranged a $1.2 million loan for the refinancing of Wrightwood Crossing, a residential condominium in Chicago. 1307 Wrightwood Lender LLC provided the loan to the borrower, 1307 W. Wrightwood II LLC. The property includes 19 residential units ranging from 1,510 to 2,720 square feet.
NEWARK, N.J. — Lino DiLascio of the New York office of Johnson Capital has arranged a construction loan for the ground-up development of the Courtyard at Marriot hotel in Newark. The 150-room hotel will include 14,780 square feet of retail space. The project, estimated to cost $35 million, is the first new hotel in Newark in more than 40 years. It is located at the intersection of Lafayette and Broad streets. Chicago-based Tucker Development and Robert Finvarb Cos. are the project developers. The partnership also includes an affiliate of The New Jersey Devils. A regional bank provided the 3-year, floating-rate loan. The hotel is scheduled to open in September 2012.
ROBBINSVILLE, N.J. — Matrix Development Group has completed a 150,000-square-foot, build-to-suit distribution building for Ritchie & Page Distributing Co. The facility is located in the Matrix Business Park at Exit 7A off the New Jersey Turnpike in Robbinsville. The building includes 20 loading dock positions and 18,000 square feet of office space. Ritchie & Page, a beverage distributor, plans to consolidate its Trenton and Wall Township locations to the new site.
