PHOENIX – About 98,000 square feet of general industrial space at 1025 and 1033 N. 71st Ave. in Phoenix has sold to Alliance Commercial Partners, LLC for $2.6 million. The property was built in 2007. The 1025 property was vacant and in shell condition. The 1033 building had about 1,400 square feet of spec office space that was built out at the time of sale. Paul Boyle and Rick Danis with Cassidy Turley BRE Commercial’s Capital Markets Group and Steve Mardian with the firm’s Industrial Group represented both the buyer and the seller, WE Uterque Holding Corp., a company formed by JP Morgan Chase Bank.
ORLANDO, FLA. — SchenkelShultz Architecture has finished the $50 million, 380,570-square-foot replacement Maynard Evans High School, located in Orlando. The facility includes three, 3-story classroom buildings with 2,400 student stations, a media center, gymnasium, auditorium, a medical health and dental clinic, an interactive child development lab and an agriculture lab. Orlando-based The Williams Co. was the construction manager for the project.
SPARTANBURG COUNTY, S.C. -— Seattle-based Amazon.com has plans to open a new 1 million-square-foot fulfillment center in Spartanburg County, located on a site near John Dodd Road. Amazon opened its first South Carolina fulfillment center last year in Lexington County's Saxe Gotha Industrial Park. Hiring for the new fulfillment center will begin later this year and the facility is expected to be operational this fall.
CHARLOTTE, N.C. — A joint venture has formed between Global Growth Trust and Woodfield Investments to develop a $30 million, 297-unit, garden-style apartment complex in Charlotte. The partnership expects to close on 13-acres of land to develop the property within the next 30 days. Amenities will include a club room, cyber cafe, fitness center and resort style pool. Global Growth Trust is sponsored by CNL Financial Group and advised by CNL Global Growth Advisors.
MOBILE, ALA. — Atlanta-based Kaufman Realty Group has purchased the 248-unit Cimarron Ridge Apartments, located at 6427 Grelot Rd. in Mobile, from Nashville, Tenn.-based Carter-Haston for $12.37 million. Stephen Ankenbrandt of Birmingham, Ala.-based Rock Apartment Advisors represented the seller in the transaction.
PINELLAS PARK, FLA. — The Parts House has signed a 49,000-square-foot warehouse lease, located at 6868 118th Ave. N. in Pinellas Park. Scott Clendening of St. Petersburg, Fla.-based Commercial Realty Partners represented Mosk Development Group, the landlord, in the lease transaction.
EDINA, MINN. — Kraus-Anderson Construction Co. has been selected to renovate Southdale Center in Edina. The 293,378-square-foot renovation will include a new concourse, food court and entrances, as well as new elevators, stair cores and general mall finishes. Construction is expected to be completed this December. Kraus-Anderson will operate in two shifts to complete the renovation before the holiday's shopping season. Baltimore-based JP2 is the architect for the project. The mall opened in 1956.
OVERLAND PARK, KAN. — Newmark Knight Frank has arranged the $16.6 million sale of Southridge Medical Building, a 57,000-square-foot medical office building adjacent to Saint Luke's South Hospital in Overland Park. Michael Bennett of Newmark represented the seller, a private group of doctors associated with Saint Luke's Health System, in the transaction. The buyer was a Midwest family trust.
BOLINGBROOK, ILL. — Tobe Enterprises, a business and accounting services company, has leased a 48,101-square-foot industrial unit at 605 Territorial Dr. in Bolingbrook, bringing the property to full occupancy. Terry Grapenthin and Joshua Hearne of Cawley Chicago Commercial Real Estate represented the landlord, KTR Capital Partners, in the transaction. Jonathon Kohn of the Chicago office of Colliers International represented the tenant.
NEW YORK CITY — Meridian Capital Group has negotiated a $44 million mortgage loan to recapitalize a 17-story, 160,000-square-foot office building in Midtown Manhattan. The 7-year loan provided by a local savings bank includes a 4.3 percent rate and interest-only payments for the first year. The building is located on East 45th Street and is 98 percent occupied. Tenants include LIM College and AT&T. Allan Lieberman of Meridian arranged the transaction.