MICHIGAN AND OHIO — CIT Capital and Blue Water Automotive Inc.'s Creditors' Trust has sold a 775,000-square-foot, nine-building industrial portfolio in Michigan and Ohio. Several industrial manufacturing firms purchased the properties independently, which will utilize the buildings for a variety of manufacturing and distribution operations. The properties include a 140,000-square-foot building in Port Huron, Mich.; a 136,744-square-foot building in St. Clair, Mich.; a 133,000-square-foot building in St. Clair; a 70,280-square-foot building in St. Clair; a 63,550-square-foot building in Caro, Mich.; a 59,500-square-foot building in Wauseon, Ohio; a 56,296-square-foot building in Marysville, Mich.; a 54,166-square-foot building in Lexington, Mich.; and a 44,120-square-foot building Marysville. Rob Gemerchak, Andrew Harris and Bob Boyle of Binswanger represented the sellers in the transaction.
CHICAGO — Sue Blumberg of NorthMarq Capital's Chicago office has arranged $40 million for the first mortgage refinancing of 100 W. Chestnut in Chicago. The 30-story apartment high-rise contains 280 units and a parking garage. The building is fully occupied. The 10-year, Fannie Mae loan has a 30-year amortization schedule. The borrower is Great Lakes Property Group Trust.
SAN FRANCISCO — Dennis Williams of NorthMarq Capital's San Francisco office arranged $20.1 million in acquisition financing for the Terreno portfolio. The Torino portfolio contains a combined 444,838 square feet in five industrial properties located in New Jersey, California, Washington and Flordia. Collectively these properties are 97 percent occupied. NorthMarq arranged the 7-year loan through its relationship with Prudential Life Insurance. The loan has a 30-year amortization schedule.
HAMILTON SQUARE, N.J. —Beech Street Capital has arranged a $8.9 million HUD loan to refinance Arcadia Nursing and Rehabilitation Center, a 128-bed skilled nursing facility in Hamilton Square. The borrower had 28 years left on an existing $9 million FHA loan. Beech Street increased the loan term to 35 years. Joshua Rosen of Beech Street originated the loan.
NEW YORK CITY — An apartment building at 211 Taaffe Place, located between Willoughby and Dekalb avenues in Brooklyn, has sold for $1.2 million. The four-story building contains 6,875 square feet and is fully occupied. The apartments have newly constructed kitchens and bathrooms and the building has a new roof. Michael Amirkhanian and Kenneth Freeman of Massey Knackal represented the buyer and seller in the transaction.
COLLEYVILLE, MCKINNEY, MESQUITE AND VICTORIA — Dallas/Fort Worth-based Venture Commercial Real Estate has facilitated the sales of a standalone Market Street store, Stonebridge Ranch shopping center, Northcross Shopping Center and Galloway Crossing for approximately $41.8 million. Canada-based RioCan purchased the 72,617-square-foot standalone Market Street store, located in Colleyville, and the 88,552-square-foot Stonebridge Ranch shopping center, located in McKinney. RioCan purchased the retail properties from Uhlmann Offices for $29.9 million. John Zikos, Easley Waggoner, Amy Pjetrovic-Hunnicutt and Chris Booras of Venture Commercial represented the seller in the transaction. Sterling Organization will manage both properties. December Galloway LLC purchased the 59,425-square-foot Galloway Crossing, located at 2110 N. Galloway Ave. in Mesquite. The shopping center is 85 percent leased to tenants including H&R Block, Sylvan Learning Center and Dollar General. Chris Corbin and Bob Moore of Venture Commercial represented the buyer in the transaction. The seller was a special servicer. Venture Commercial will handle the leasing and management of the retail property. Dunhill Partners has purchased the 165,522-square-foot Northcross Shopping Center, located at 5201 Navarro St. in Victoria, from ANB Assets. Zikos and Booras represented the seller in the transaction. Nelson Billups and Alan Mann of Venture Commercial represented the buyer.
HOUSTON — Satterfield & Pontikes Construction (S&P) has completed the $9.4 million construction of a 52,600-square-foot building and a 9,500-square-foot gymnasium for Henry W. Grady Middle School, located at San Felipe Street and Sage Road in Houston's Galleria area. The addition includes classrooms, science labs, a commons area, a library, clinic, administrative offices, a music room, a theater and special education centers. Gensler provided architectural services for the project and Rice & Gardner Consultants served as the program manager.
SAN ANTONIO — Gold's Gym International has purchased 11 Spectrum Athletic Club locations in the San Antonio area. All 11 facilities will be rebranded under the Gold's Gym name but all Spectrum memberships will be honored. The acquisition brings the number of Gold's Gym locations in San Antonio to 20.
KATY — Dallas-based Main Event Entertainment has plans to open the 54,000-square-foot Main Event Katy, an entertainment destination that will be located in the 129-acre Katy Ranch Crossing in Katy. The new location will be the 11th Main Event and will feature bowling lanes, an indoor rope course, laser tag and an arcade. Katy Ranch Crossing is expected to commence construction in the first quarter of this year, and Main Event Katy is slated to open in late 2012.
CORSICANA — The Silver Group has brokered the sale of an approximately 3,000-square-foot Jack in the Box restaurant, located in Corsicana. Barry Silver of The Silver Group represented the buyer, an investor, in the transaction. Nick Farris of Marcus & Millichap's Dallas office represented the undisclosed seller.