SALISBURY, MD. — A 49,000-square-foot industrial property, located at 618 Beam St. in Salisbury, has sold for $2.3 million. The warehouse/manufacturing facility is leased to Delmarva Media Group. John McClellan of Sperry Van Ness — Miller Commercial Real Estate's Salisbury office represented the seller, Beam Street, in the transaction. Henry Hann, also of the firm's Salisbury office, represented the buyer, Pennsylvania-based 618 Beam St., LLC.
ABERDEEN, MD. — Brick, N.J.-based Tryko Partners has purchased the 184-unit Perrywood Garden, located at 301 Mayberry Dr. in Aberdeen, for $10 million from Perrywood Garden Associates. The property has a project-based Housing Assistance Payment Contract in place for 100 of its units. Ridge MacLaren, Andrew Townsend and Clarke Talone of Marcus & Millichap's Philadelphia office represented the seller in the transaction.
GODFREY, ILL. — Contegra Construction Co. has completed a $10.5 million renovation and expansion of the Hatheway Hall theater building on the campus of Lewis and Clark Community College in Godfrey. The project included the addition of 6,800 square feet and renovation of 62,500 square feet. It also featured a new two-story enclosed lobby. The project team included architect AAIC Inc. of Collinsville, Ill., civil engineer Sheppard, Morgan & Schwab of Alton, Ill. and structural engineer EDM of St. Louis, Mo.
MILWAUKEE — Marcus & Millichap of Milwaukee has arranged the $1.8 million sale of a 14,340-square-foot Dollar Tree in the city. The single-tenant property is located along South Howell Street. Jeff Rowlett and Jason Ladner of Marcus & Millichap represented the seller, a Wisconsin developer, in the deal. The buyer was a private investor from California.
St. Louis — Washington University has announced plans to remake a central part of the Delmar Loop, which is a six-block shopping and dining destination near the university, with an $80 million project consisting of stores and apartments for approximately 550 students. The project comprises a four- to six- story building of retail space and apartments on Delmar Boulevard at Eastgate Avenue and three new mid-rise apartment buildings on Enright Avenue nearby. Construction is scheduled to begin January 2013 with occupancy in August 2014. Washington University owns all the affected property.
CHICAGO — Richwell Enterprises, which specializes in distribution warehousing for the food service industry, signed a lease for 142,000 square feet at the Midway Business Center in Chicago. The property is located at 5363 S. Archer and will serve as a distribution center for one of Richwell's food customers. Matt Rogatz of Chicago Industrial Real Estate represented the tenant in the transaction. Mike Nelson and Mark Nelson of NelsonHill represented the owner.
NEW YORK CITY — GDC Properties recently finished converting the former Hanan & Son shoe factory at 220 Water St. in Brooklyn to 134 luxury apartments. The property includes a mix of studio, one- and two-bedroom residences, with 14-foot ceilings. Rents for the building range from $3,150 to $6,150 per month.
LONG BRANCH, N.J. — United Capital Corp. has purchased the 12-story Ocean Place Resort & Spa in Long Branch. The 254-room hotel includes 40,000 square feet of meeting and event space, a private beach, two restaurants and a fitness facility. United Capital plans to invest $15 million in renovations to the property. The New York-based company also owns and operates hotels in Windsor Locks, Conn.; Utica, N.Y.; Nashua, N.H.; as well as Atlanta and Miami. Additional terms of the deal were undisclosed.
MARLTON, N.J. — Mainardi Management Co. has obtained an $11.7 million loan for the Greentree Square Shopping Center in Marlton. The 110,000-square-foot center is anchored by Whole Foods Market. Tom Didio and Mike Cerullo of HFF arranged the loan through Allstate Insurance Co. The 10-year loan carries a fixed rate of 4 percent.
CAMDEN, N.J. — Centerline Capital Group has arranged a $3.5 million Fannie Mae loan to refinance a newly rehabbed apartment property in Camden. Macedonia Gardens consists of an 11-building apartment complex clustered among Saunders, Howell and Mitchell streets. Built in 1969, the properties underwent a substantial rehab that was completed in 2010. The borrower was Nationwide Housing Management.