Pullman, Wash. – The 146-unit Birch Hills in Pullman received $10.5 million in first-mortgage financing. The off-campus student housing community is located near Washington State University. The loan features a seven-year term and a 30-year amortization schedule. It was arranged for the borrower, Corporate Pointe, by NorthMarq through its seller-servicer relationship with Freddie Mac. NorthMarq’s team was led by Bob Spiro of the firm’s Seattle office.
RANCHO MIRAGE, CALIF. — River’s Crossing, a 31,900-square-foot retail centerin Rancho Mirage, has sold to a private Canadian venture for $6.8 million. The center was built in 1991 and is situated on 2.88 acres along Highway 111. It is currently 89 percent occupied. Notable tenants include Ferguson, Goodwill Industries and California Patio. Michael Dyer of Cushman & Wakefield and Dick Bridy of DBI Group represented the all-cash buyer. William B. Asher and Edward B. Hanley of Hanley Investment Group represented the seller, Highpoint Capital, LLC.
LIVERMORE, CALIF. — Topcon Positioning Systems (TPS) has signed a long-term lease for 30,000 square feet at 7901 National Drive in Livermore. This will allow TPS to expand its headquarters. The two-story office building was completed in 2007. TPS was represented by Mark Triska and Ned Wood of Colliers International. The building’s landlord, Bear Properties, LLC, was represented by Adam Ebner and Mark Kol of CBRE.
WASHINGTON, D.C. — New York City-based JOSS Realty Partners has sold the 88,074-square-foot 2131 K. Street N.W., an office building located in Washington, D.C.'s CBD, for $28.8 million. The 8-story building is 90 percent leased to tenants including George Washington University Hospital, Cardiology Associates, Atlantic Services Group, The George Washington University's National Health Policy Forum and Gambro Healthcare (Davita). Transwestern represented the seller in the transaction.
MIAMI — A 15,975-square-foot retail property, located at 801 Washington Ave. in Miami, has been sold for $13.15 million. The property is fully leased to tenants including Diesel Jeans, Dash Miami, LF Sportswear, OndadeMar and Solstice Sunglass Boutique. Drew Kristol and Kirk Olson of Marcus & Millichap's Miami office represented the seller, 801 Washington LLC, in the transaction. Adelaide Polsinelli and Kyle Woodruff of the firm's New York City office represented the buyer, a New York City-based investor in a 1031 exchange.
ATLANTA — Atlanta Property Group (APG) has purchased the 183,619-square-foot 1200 Ashwood, an office building located 1 mile north of the Ashford-Dunwoody/Interstate 285 Interchange in Atlanta, from Miami-based LNR for approximately $9.5 million. LNR serviced the loan made to the previous owner, Griffin Capital. APG will spend approximately $1 million to renovate the building's common areas and improve the property's aesthetic appeal. Will Yowell of CBRE's Atlanta office represented the seller in the transaction.
CHARLOTTE, N.C. — Malvern, Pa.-based Liberty Property Trust has acquired the 270,400-square-foot Charlotte Distribution Center South, located at 8910 & 8916 Pioneer Ave. in Charlotte. The two-building property is 100 percent leased to tenants including FedEx Smart Post and Premier Transportation & Warehousing. The company also acquired a 9.5-acre pad site located in front of Charlotte Distribution Center South for future development of a 105,000-square-foot industrial facility.
HIALEAH, FLA. — Bullet Line has signed a 475,000-square-foot industrial lease at Centergate at Gratigny, located at 6301 E. 10 Ave. in Hialeah. Wayne Schuchts and Ed Lyden of Flagler Real Estate Services' Coral Gables, Fla., office represented the landlord in the lease transaction. James Nolan of Butters Realty, along with Wayne Ramoski of Cushman & Wakefield's Miami office, represented the tenant.
HILLIARD, OHIO — A 128,875-square-foot Garden Ridge, a crafting and home decorating store, has sold for $5.5 million in Hilliard. Dan Yozwiak, Antoine Matthews and John Reehil of Marcus & Millichap's Columbus office represented the seller, an undisclosed limited liability company, in the transaction. Graden Ridge is located at 3599 Park Mill Run Dr.
LAWTON, MICH. — Love Funding has closed a $2.8 million loan to refinance White Oak, a 72-bed assisted living and dementia care facility in Lawton, near Kalamazoo. Robert Smallwood of Love Funding's Cleveland office secured the loan through a U.S. Department of Housing and Urban Development loan program. White Oaks is owned by Chuck and Barbara Randall, who own six assisted living properties in Ohio and Michigan.