LAKE GROVE, N.Y. — Shopping center developer Regency Centers has closed on its $72.5 million purchase of the 141,382-square-foot Lake Grove Commons in Lake Grove, with its co-investment partner First Washington Realty Inc. Lake Grove, a Class A property, is anchored by Whole Foods. Jeffrey Dunne and David Gavin of CBRE represented the seller, Lake Grove Enterprises LLC in the transaction.
SADDLEBROOK, N.J. — JA Cosmetics, which manufactures the e.l.f. line of beauty products, is moving from its Patterson, N.J. facility to a 132,000-square-foot industrial site at 45 Mayhill St. in Saddlebrook. The new unit includes an 18-foot ceiling height and 116-car parking. Jeffrey DeMagistris and Thomas Vetter of NAI Hanson represented the landlord, Jos Muscarelle, in the transaction.
KEENE, N.H. — ARC/Architectural Resources Cambridge, an architectural and interior design firm, has completed work on a new, 65,000-square-foot YMCA health and wellness facility at 200 Summit Rd. in Keene. The facility includes a six-room childcare center, climbing wall, an aquatics center and a multi-purpose gymnasium. The center opened to the public in December.
NORWALK, CONN. — In a joint venture, KABR and Blackpoint Partners have acquired 535 Connecticut Ave. in Norwalk for $11 million. The 175,000-square-foot, Class A office building is newly renovated and includes a gym, cafeteria and conference facility. The seller, LNR Partners, foreclosed on the previous owner, who purchased the building in 2006 for $26.5 million.
NEW YORK CITY — A six-story apartment building has sold for $4.6 million at 351 Saint Nicholas Ave. in New York City. The 35,212-square-foot property includes 36 units. Peter Von Der Ahe, Scott Edelstein and Seth Glasser of Marcus & Millichap's Manhattan office represented the seller, a limited liability company, in the transaction. They also represented the buyer, a limited liability company.
WESTBURY, N.Y. — NorthMarq Capital has arranged $18 million in first mortgage refinancing for The Park Atrium, a 116,943-square-foot office building, located at 865 Merrick St. in Westbury. Ernest DesRochers and Charles Cotsalas of NorthMarq arranged the loan through NorthMarq's correspondent relationship with National Life Insurance Co. The 5-year loan has a 30-year amortization schedule.
AUSTIN — Atlanta-based Apartment Realty Advisors has arranged the sale of the 367-unit, 1,026-bed Jefferson 26, a Class A student housing property located at the University of Texas – Austin's West Campus. The property was 97 percent occupied at the time of the sale and features a clubhouse, pool, spa, fitness center, tanning beds, a rooftop garden and a game room. Patton Jones, Chris Bancroft and Chris Epp of ARA's Austin office represented the seller, Jefferson at West Campus LP, in the transaction. Austin-based American Campus Communities was the buyer.
LEWISVILLE — Marcus & Millichap has brokered the sale of the 19,896-square-foot Baylor Surgicare at Lewisville, a medical office building located at 1854 Lakepointe Dr. in Lewisville. Chris Gomes and Ashish Vakhariya of Marcus & Millichap's Detroit office represented the seller, a partnership, in the transaction. Vakhariya also represented the buyer, a limited liability company. Tim Speck of Marcus & Millichap's Dallas office assisted in closing the transaction.
DALLAS — NorthMarq Capital has arranged $36.5 million in first mortgage financing for a Class A apartment complex, which has more than 500 units, in Dallas. Michael Elmore of NorthMarq's Los Angeles office and Paul Brighton of the firm's Dallas office arranged the 7-year loan with a 30-year amortization schedule through Freddie Mac's Capped ARM program.
THE WOODLANDS — Michel Kors will open a 2,659-square-foot store at Market Street — The Woodlands, an approximately 500,000-square-foot open air shopping and entertainment center that features merchants Tiffany & Co., Brooks Brothers, Allen Edmonds, Ann Taylor and L'Occitane, as well as the 70-room AVIA hotel and 17 restaurants. Market Street is located at 9595 Six Pines Dr. in The Woodlands and is owned by a joint venture between Trademark Property Co. and Institutional Mall Investors.
