WALKER, ILL. — The Boulder Group has completed the sale of a single-tenant Advance Auto Parts property, located at 4250 Lake Michigan Dr. in Walker, for $1.3 million. Advance Auto Parts has a 15-year lease term at the 7,920-square-foot retail building. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer, a Midwest institutional investor. They also represented the seller, a private Ohio-based company.
NEW YORK CITY — Arcadia Strategic Opportunity III LLC and an unaffiliated joint venture partner have acquired 640 Broadway, a nine-story loft building, for $32.5 million. Built in 1897, the property was known as the original Empire State Building. The 63,094-square-foot building includes 12 commercial units and 21 residential units. 640 Broadway is located between Broadway and Crosby streets in the heart of NoHo.
MANCHESTER, N.H. — Real estate development company Brady Sullivan has purchased 300 Bedford St., a six-story mill building in Manchester, for an undisclosed amount. The Manchester Planning Board has approved the space for 110 multifamily units and 64,450 square feet of commercial space. Terry Scott of ARA New England represented the seller, Philadelphia Management Co. in the transaction.
NEW YORK CITY — Brookfield Office Properties broke ground Feb. 13 on the second phase of its $250 million upgrade of the Winter Garden, the retail complex at the 8 million-square-foot World Financial Center across from the Ground Zero site in lower Manhattan. Phase II includes the construction of a glass pavilion on West Street, which will link the center to new transit hubs and serve as the main entranceway to the complex. The third phase of the project will begin later this year, and the renovation is slated for completion in 2013.
NEW YORK CITY — TreeTop Development and Latus Partners have jointly acquired four properties in New York City, consisting of more than 80 apartment homes and eleven retail spaces totaling 10,000 square feet. The properties are located at 1917 7th Ave.; 110 St. Nicholas Ave.; 110 W. 116th St.; and 120 W. 116th St. Shimon Shkury and Victor Sozio of Ariel Property Advisors represented the buyer and undisclosed seller in the transaction. TreeTop plans to renovate the properties, including upgrading the building systems and renovating apartment interiors.
HOUSTON — HFF has brokered the sale of the 201,720-square-foot 2200 West Loop South, a Class A office building located in Houston. The property is 87 percent leased to tenants including Morgan Stanley and Tenaris. Dan Miller and Marty Hogan of HFF's Houston office represented the seller, KBS Real Estate Investment Trust, in the transaction. The buyer was Miami-based Parmenter Realty Partners.
AUSTIN — Marcus & Millichap has arranged the sale of three properties totaling 422 units, including Quail Run, Gateways and Woodmark, all located in north Austin. Joe James and Kent Myers of Marcus & Millichap's Austin office represented the undisclosed seller in the transaction and secured the buyer, a Texas-based partnership. The 132-unit Quail Run is located at 1200 Mearns Meadow Blvd.; the 130-unit Gateways is located at 1804 W. Rundberg Ln.; and the 160-unit Woodmark is located at 1735 Rutland Dr.
AUSTIN — Apartment Realty Advisors (ARA) has arranged the sale of the 74-unit Delwood Station, a multifamily community located at 1230 E. 38th 1/2 St. in Austin. Andrew Shih of ARA's Austin office represented the seller, a group of private individuals based in the State of Washington, in the transaction. Additionally, the seller partnered with Austin-based Roscoe Properties. The buyer was a syndicate, also based in Washington state. Fannie Mae provided acquisition financing for the property, which features a pool, courtyard, barbecue area and laundry facilities, as well as nearby retail and restaurants.
FLOWER MOUND — Dr. Arthur Bradley has signed a 5-year, 1,410-square-foot lease to open his chiropractic practice, Arteva LLC, at Shops at Flower Mound, a 44,353-square-foot neighborhood shopping center located at 2021 Justin Rd. in Flower Mound. Leigh Richter and Paul Richter of Bradford Commercial Real Estate Services' Dallas office represented the landlord, Houston-based KM Flower Mound, in the lease transaction.
DOTHAN, ALA. — Batson-Cook has broken ground on the $25 million, 110,000-square-foot Alabama College of Osteopahtic Medicine (ACOM), a school affiliated with Southeast Alabama Medical Center located at the intersection of Cowarts and Dean roads in Dothan. The three-story structure will contain two auditoriums, laboratory space, study rooms, administrative offices, a student lounge and a teaching clinic that will include exam room mock-ups. Completion is slated for April 2014.