PLANTATION, FLA. — The 32,688-square-foot Bank of America at Grove East, an office building located at 3800 Broward Blvd. in Plantation, has sold for $5.35 million. The building is fully leased to Bank of America and Chrysalis Health. Douglas Mandel of Marcus & Millichap's Ft. Lauderdale, Fla., office, along with Benjamin Silver of the firm's Miami office, represented the seller, a Coral Gables, Fla.-based private investor, in the transaction and procured the buyer, an Austin, Texas-based investment fund.
WASHINGTON, D.C. — Washington, D.C.-based MAC Realty Advisors has brokered the $5.01 million sale of the 44-unit The Warner, an apartment building located at 2620 13th St. NW in Washington, D.C. The buyer plans to renovate the building while preserving 20 percent of the units as affordable housing. MAC represented 2620 LP./District of Columbia Castle Management Corp. and Boston Capital, the sellers, in the transaction. The buyer was New York City-based Aria Partners.
ORLANDO, FLA. — The 7,527-square-foot former Bola Restaurant, located at 8148 International Dr. in Orlando, has sold for $2.7 million. The buyer plans to renovate the building and expand it to 8,500 square feet for a new Kobe Japanese Steakhouse restaurant. Completion is slated for May of 2012. Kevin O'Connor and Matt Cichocki of Maitland, Fla.-based NAI Realvest represented Brooklyn, N.Y.-based Hollywood Plaza Holdings, the seller, in the transaction. Jon Rose of Charles Wayne Properties' Maitland office represented Altamonte Springs, Fla.-based TC Holdings-International Drive, the buyer.
KINROSS, MICH. — Mascoma Corp., a renewable fuels company, has signed a cooperative agreement with the U.S. Department of Energy (DOE) to assist in the design and construction of a commercial-scale hardwood cellulosic ethanol facility in Kinross. The cooperative agreement provides $80 million in DOE funding. The facility will convert hardwood pulpwood to ethanol. Construction of the Kinross plant in Michigan's Upper Peninsula is expected to begin in the next three months, and is slated for completion in 2013. Kinross Cellulosic Ethanol LLC, a joint venture formed by Mascoma and Valero Energy Corp., will develop and operate the Kinross plant.
LENEXA, KAN. — All American Supply Co. has renewed its lease for 49,775 square feet of industrial space at Lenexa Industrial, located at 9775 Lackman Rd. in Lenexa. Matthew Severns of Kessinger / Hunter & Co. represented the landlord, TAK Properties, in the deal. Tom Haverty of Colliers International represented the tenant.
PHILADELPHIA — Forest City Enterprises has secured a $28.2 million loan for the refinancing of Drake Tower, a 284-unit, 30-story apartment building, located at 1512 Spruce St. in Philadelphia. Red Mortgage Capital, the mortgage banking arm of Red Capital Group, provided the Fannie Mae loan. The 10-year loan has a 30-year amortization schedule.
NEW KINGSTOWN, PA. — Fry Communications, a multi-media printing and production company, has signed a 146,500-square-foot lease at 32 E. Main St., a one-story industrial facility in New Kingstown. CBRE represented the company in the transaction. Gerry Blinebury, Pat McBride and Leah Balerno of the Phildelphia office of Cushman & Wakefield represented the landlord, Seagis Property Group.
HAMDEN, CONN. — The Alphabet Academy, a children's daycare, has leased 12,000 square feet at 2389 Dixwell Ave. in Hamden, the former Colonial Tymes Restaurant. The site will undergo a complete renovation and open in March 2012. Steve Miller of Levey Miller Maretz represented the landlord, 2100 Whitney Avenue LLC. Stephen Press of Press / Cuozzo Realtors represented the tenant.
WILLOW GROVE, PA. — The Real Estate Equity Co. has acquired the 71,000-square-foot Willow Grove shopping center in Willow Grove for $14.6 million. The center is fully net leased to Best Buy, and 8,500 square feet of the shopping center is sublet to Pier 1 Imports. Kevin Mcleron of CBRE's Philadelphia office represented the buyer in the transaction. The seller was Goodman Properties.
RICHARDSON — Dayton, Ohio-based The Connor Group has purchased the 338-unit Arboretum Estates, located at 411 Buckingham Rd. in Richardson, from Arboretum Estates, Ltd., for an undisclosed price. The property sits on a 14-acre parcel in the north Dallas submarket.