COLUMBIA, MD. — Prologis has sold its 20-building office/flex portfolio totaling 588,009 square feet in three business parks. The portfolio, which is 93 percent leased, includes properties in Columbia Gateway Business Park, Columbia Business Center and Oakland Ridge. Jonathan Carpenter and James Wellschlager of Cassidy Turley's Baltimore office represented the seller in the transaction. The buyer was a New England-based institutional investor.
ALPHARETTA, GA. — Atlanta-based OA Development has purchased two office buildings totaling 135,000 square feet, located at 2555 and 2573 Westside Pkwy. in Alpharetta, for $11.24 million. The buildings are currently 89 percent leased to tenants including ADP. American National Insurance Co. provided debt capital for the acquisition, and Tom Shafer of Atlanta-based Resource Real Estate Partners represented Sentinel Lakeview Realty, the seller, in the transaction.
LAGRANGE, GA. — Binswanger has negotiated the sale of a 130,329-square-foot industrial property, located at 200 Piedmont Cir. in the LaGrange Industrial Park in LaGrange. Dan Stubbs of Binswanger's Atlanta office represented Matsu Properties, the seller, in the transaction. The buyer was Daewon America, a unit of Seoul, South Korea-based Daewon Kangup.
HOLLYWOOD AND FORT LAUDERDALE, FLA. — Thomas D. Wood and Co. has secured two industrial loans totaling $9 million in Florida. Marshall Smith of Thomas D. Wood and Co.'s Coral Gables, Fla., office arranged $4 million on behalf of Port 95-1 Ltd. through Kansas City Life Insurance Co. for a 76,800-square-foot industrial complex, located at 3611-365 SW 30th Ave. in Hollywood. The 10-year loan has a 25-year amortization schedule. Steven Wood, also with the firm's Coral Gables office, negotiated $5 million for the 134,342-square-foot Merrill Industrial Center, located at 3400-3406 SW 26th Ter. in Fort Lauderdale. The 10-year loan has a 25-year amortization schedule and was provided by Symetra Life Insurance Co.
FREDERICK, MD. — NorthMarq Capital has arranged $6.8 million in first mortgage refinancing for the 90-room Courtyard by Marriott, located at 5225 Westview Dr. in Frederick. Gary McGlynn and Brendan Scanlon of NorthMarq's Washington, D.C., office negotiated the loan through Wells Fargo, N.A.
OHIO — UMH Properties has received an $11.4 million mortgage loan from Bank of America to refinance two manufactured home communities in Ohio and Tennessee. The loan includes a fixed interest rate of 4.4 percent with monthly principal payments of about $26,000. The maturity date is Feb. 1, 2017, but may be extended for an additional two years at an interest rate of LIBOR plus 3.3 percent.
STERLING HEIGHTS, MICH. — Merrill Technologies, a defense contractor, has signed a lease for 27,806 square feet of industrial space at 33844-33852 Sterling Ponds Court in Sterling Heights. Joe Hamway of the Southfield, Mich. office of Signature Associates represented Merrill in the transaction.
MINNEAPOLIS — Centra Homes has closed on the purchase of 350 properties from Assured Funding Trust of Little Canada, Minn. The properties are located throughout the greater Twin Cities area and consist of homes in the process of construction, developed lots ready for sale and undeveloped land. Though most of the properties will be for single-family homes, some of the undeveloped land is appropriate for apartment or multifamily development. The properties are located in the cities of Woodbury, Blaine, Apple Valley, Andover, Inver Grove Heights and Cottage Grove.
COLUMBUS — D+S Distribution Inc., a Wooster, Ohio-based warehousing and transportation company, has signed a 20,000-square-foot industrial lease at 320 Outerbelt St. in Columbus. Rick Trott and Kevin McGrath of Cassidy Turley's Columbus office represented D+S in the transaction. The landlord is 320 Outerbelt LLC.
PHILADELPHIA — Drexel University will break ground this month on a $97.6 million mixed-use project at the Philadelphia-based school.Drexel entered into a partnership with Austin-based American Campus Communities to construct 361,000 square feet of student housing and retail space on land it owns on Chestnut, between 32nd and 33rd streets. Under the agreement, American Campus has a 70-year ground lease with Drexel and will also manage the property. Designed by Robert A.M. Stern Architects, the development will include a 19-story residential tower and two eight-story, mixed-use buildings. The project is slated for completion in September 2013.