LAWRENCEVILLE, GA. — Grandbridge Real Estate Capital has arranged a $9.28 million first mortgage loan for the 192-unit Lealand Place Apartments, located at 2945 Cruse Rd. in Lawrenceville. Alan Tapie of Grandbridge's Atlanta office arranged the 10-year loan with 2-years interest only followed by a 30-year amortization schedule through Freddie Mac's CME program.
ST. ANTHONY AND WOODBURY, MINN. — Inland Real Estate Corp. recently purchased two retail properties in the Minneapolis market for a total of $46.6 million. In a joint venture, Inland and PGGM acquired Silver Lake Village, a grocery-anchored shopping center in St. Anthony — an inner suburb of Minneapolis — for $36.3 million. On the same day, Feb. 24, Inland also acquired Woodbury Commons, a shopping center in Woodbury, for $10.3 million. Silver Lake consists of 159,303 square feet and is anchored by Cub Foods. Woodbury Commons totals 116,197 square feet and its tenants include Outback Steakhouse, Applebee's and Payless ShoeSource.
BUFFALO GROVE, ILL. — Barrett Moving & Storage has signed a new 57,000-square-foot lease to move its Chicago-area headquarters to a more centralized location in Buffalo Grove. The company is moving from its current nearby location at 3831 Hawthorn Court in Waukegan to 201 Hastings Dr. Robin Stolberg and Kurt Sarbaugh of the Chicago office of Jones Lang LaSalle represented the tenant in the transaction. Hamilton Partners, which owns the building, acted as the leasing agent.
CHESTERFIELD, MO. — Banyan Ventures has sold 14897 Clayton Rd. in Chesterfield, a 12,880-square-foot office building, for $1 million. The new owners, Andreas Loakimides, Jayson Hardie & Gregory Aftayev, plan to remodel the common areas, exterior landscaping and resurface the parking lot. Tim Balk of Solon Gershman represented the seller in the transaction. John Pennington of Savoy Properties represented the buyers.
COLUMBUS — Cleveland-based American Coach Sales has acquired a 56,000-square-foot retail and warehouse property in Columbus, located at 1239-1251 Alum Creek Dr. The purchase price was $900,000. The company, which specializes in the sale of limousines and other transport vehicles, is already a tenant in the property, leasing 15,000 square feet. The building was fully leased at the time of sale, with American Coach and PGW Glass as the major tenants. Dan Sheeran and Mike Semon of NAI Ohio Equities represented the building owner, Doyle Properties, in the transaction. Greg Skinner of ERA Real Estate Solutions represented the tenant.
ISELIN, N.J. — Iselin-based Sperry Van Ness has arranged the sale of three industrial properties for a combined $7.5 million. In the first deal, Schott NYC, a leather jacket manufacturer, purchased a 58,683-square-foot property at 735 Rahway Ave. in Union, N.J. The company plans to use the building as its headquarters for manufacturing and distribution. Doug Richter and Ian Grusd of Sperry Van Ness represented the tenant in the transaction. David Fisher of Weichert Commercial represented the seller, Gelb Estate. Richter also represented Whitman, an engineering consulting firm, in its $1.8 million purchase of a 23,000-square-foot facility at 7-9 Pleasant Hill Rd. in Cranbury, N.J. Mary Ryan of Franzwa Real Estate Advisors represented the seller, Jaffar Inc. In the third deal, Sitex Group acquired a 40,000-square-foot distribution facility at 22 Cragwood Rd. in Avenel, N.J., for $2.5 million. Richter and Ian Grusd of Sperry Van Ness represented the seller, HLP Associates LP in the deal. George Molloy of Grubb & Ellis represented the buyer.
NORWICH, CONN. — Old Lyme, Conn.-based Hamilton Point Investments has acquired Stonington Estates, a 69-unit luxury apartment complex in Norwich, for $6.4 million. The 56,100-square-foot property is located at 102 Stonington Rd. and includes on-site tennis courts and a fitness center. Average rents are $1,080 per month. Louis Zuckerman and Enzennio Mallozzi of Colliers International represented the seller, CW Capital, in the transaction. They also represented the buyer.
DAYTON, N.J. — Medicia Holdings, a soap, shampoo and body wash manufacturer, has renewed its lease at 2351 Route 130 S. in Dayton. The long-term lease is for 250,000 square feet of industrial space. Brian Cass, Blake Chroman, Rob Kossar and Joel Lubin of Jones Lang LaSalle represented the tenant in the transaction. Paul Torosian and Nate Demetsky of Cushman & Wakefield represented the landlord, Clarion Partners.
ISLANDIA, N.Y. — Damianos Realty Group, one of the largest property owners in Long Island, has purchased a 40,000-square-foot office building in Islandia, for $3.8 million. Located at 3001 Expressway Dr. North, the Class B building is 50 percent occupied by medical tenants, including HealthSource and Stony Brook University Hospital. The new owner plans to redesign and upgrade the facility. The seller was Spencer Savings Bank of Elmwood Park, N.J. No brokers were involved in the all-cash deal.
NEW YORK CITY — The New York State Council of the Arts, which supports the activities of arts and cultural organizations throughout the state, will move its headquarters to 300 Park Ave. South from its current office at 175 Varick St. The council signed a 10-year lease for 13,487 square feet in the building, which includes tenants such as the Whitney Museum of American Art and Wilhelmina Models. Rockrose Development Corp. is the building owner and was represented in-house by Craig Deitelzweig. The council is expected to occupy the space by the second quarter of this year.
