BURIEN, WASH. – Navos Mental Health Solutions has received $8 million in New Markets Tax Credit (NMTC) financing for the completion of a 52,400-square-foot Behavioral Health Care Campus in Burien. The financing was provided by WNC & Associates. The facility will be developed by Navos, designed by DKA Architecture and built by Abbott Construction. It is anticipating a fall 2012 opening. The NMTC is a federal program that was created to support economic and community development in low-income communities.
HILLCREST, CALIF. – The ground-floor retail space that is attached to the Atlas Condos mixed-use property in Hillcrest has sold to Hamon Properties, LLC for $2.4 million. Atlas Condos was built in 2009 and contains 140 units atop 5,348 square feet of retail. The four-unit retail space is fully leased to Pappalecco’s Gelato Café, Osteria Origano Italian Restaurant, Beauty By Dolly salon and Pure Barre fitness studio. Hamon was represented by Bill Shrader of Cushman & Wakefield. Chris Rink and Randee Stratton of Cassidy Turley BRE Commercial represented the seller, Western Pacific Housing, Inc/D.R. Horton, which was the original developer.
LA PALMA, CALIF. — Travelers Club Luggage has signed a 63-month lease for 131,280 square feet at an industrial building in La Palma. The new lease will take the building, which is owned by DEXUS Property Group, to 100 percent occupancy. Kent Choi of NAI Capital represented Travelers Club Luggage. Peter Castleton, Cameron Driscoll and Luke McDaniel of Voit Real Estate Services represented DEXUS in this transaction.
PALM SPRINGS, CALIF. — Lucent Capital has arranged $11.5 million in first-mortgage debt cross-collateralized by two Class A retail centers in Palm Springs. Both centers are owned by Wessman Development. They include the 42,434-square-foot Plaza Mercado and the 34,010-square-foot Plaza las Flores. The loan features a 10-year term and a 5.35 percent fixed interest rate.
HANOVER, MD. — The Cordish Co. has topped off the $500 million, 330,000-square-foot Maryland Live! Casino, located at 7002 Arundel Mills Cir. in Hanover. The property will include 4,750 Las Vegas-style slot machines and popular electronics gaming tables, as well as a variety of dining options, eight bars and a 500-seat live entertainment venue. A joint venture between Commercial Interiors and TN Ward is the general contractor for the project, which is slated for completion in summer 2012.
GAINESVILLE, FLA. — Gainesville-based Charles Perry Partners Inc. (CPPI) has broken ground on North Florida Regional Medical Center's $32 million, 116,380-square-foot patient tower, located at 6500 Newberry Rd. in Gainesville. The 92-bed facility will include a state-of-the-art, 12-position Level II Neonatal Intensive Care Unit. Nashville, Tenn.-based Earl Swensson Associates designed the property. In addition, CPPI will renovate 25,106 square feet of space in the cardiology department. A cath lab will be added and non-invasive cardiology, medical records and nuclear medicine will be relocated. Completion is slated for June 2013.
LOUISVILLE, KY. — Stream Realty Partners has acquired the 101,000-square-foot Central Station Shopping Center, located at 3165 S. 2nd St. in Louisville. A 46,000-square-foot Kroger anchors the center, which is currently 85 percent leased to tenants including Starbucks, T-Mobile, FedEx Kinko's, H&R Block, Quizno's, Edward D. Jones, Little Caesar's and Supercuts. The Shopping Center Group has been retained to lease and manage the asset. Craig Collins of Louisville-based Commercial Kentucky represented the seller in the transaction. George Dickinson of Fletcher Bright & Co.'s Atlanta office arranged financing through Birmingham, Ala.-based Protective Life Insurance Co.
DAYTONA BEACH, FLA. — A 10,908-square-foot CVS/pharmacy, located at 1350 Beville Rd. in Daytona Beach, has been sold for $4 million. Leon Brockmeier of Marcus & Millichap's Tampa office represented the seller, a limited liability company from Miami, in the transaction. Patrick Whitney of the firm's Jacksonville, Fla., office represented the buyer, a Colorado-based limited liability company in a 1031 exchange.
ST. ROSE, LA. — Delta Petroleum Co. has signed a 220,000-square-foot lease for an industrial property, located at 10352 River Rd. in St. Rose. Tom McGarity of Cassidy Turley's Columbus, Ohio, office, along with Max J Derbes Co., represented the tenant in the lease transaction. Yeti Holdings is the landlord.
NAPERVILLE, ILL. — Duke Realty Corp. has acquired an 827,258-square-foot industrial building in Naperville, which is fully occupied by Crate and Barrel under a long-term lease. Jeff Devine, Steve Disse and Jeff Kahan of Colliers International represented the seller, DB Real Estate West Jefferson Partners, in the transaction. The acquisition is Duke's fourth industrial purchase in Chicago since 2011, raising its total portfolio in the market to 10 million square feet.