FORT MYERS, FLA. — The 64-unit Palm Villas Apartments, located at 8372 Beacon Blvd. in Fort Myers, has been sold for $1.57 million. Cole Whitaker and Hal Warren of Hendricks & Partners' Orlando, Fla., office represented the seller, PNC Bank, in the transaction. Michael Maurer of Fort Myers-based RE/MAX Estates represented the buyer, Promotora Inmobiliaria.
CHARLOTTE, N.C. — Walker & Dunlop has arranged a $5.95 million acquisition loan for the 178-unit Delta Crossing, an apartment complex located at 6000 Delta Crossing Ln. in Charlotte. Stephen Farnsworth of Walker & Dunlop's New Orleans office arranged the 10-year loan with 2-years interest only and a 30-year amortization schedule through Fannie Mae on behalf of the borrower, Cortland Partners.
BELVIDERE, ILL. — Pacific Global Logistics has signed a lease for 30,000 square feet of industrial space, located at 3915 Morreim Dr. in Belvidere. Emmett Gray of Whitehead Commercial Realty represented Pacific Global in the transaction. The landlord, Landmark Real Estate Group, was represented by Shane Van Sickle of Landmark.
WASHINGTON, D.C. — Marcus & Millichap Real Estate Investment Services has negotiated the $10.8 million sale of a 19,620-square-foot, two-tenant shopping center, located at 7000 and 7008 Marlboro Pike in Washington, D.C. The center is fully leased by Walgreens and Sherwin-Williams. Dean Zang, Mark Taylor, Derrick Dougherty, Christopher Munley of the Philadelphia office of Marcus & Millichap represented the seller in the transaction. They also procured the 1031 exchange buyer, a private investor from outside the market.
POTTSTOWN, PA. — Sly Fox Brewery has acquired a 32,000-square-foot, Class B flex building, located at 331 Circle of Progress Dr. in Pottstown, for $1.9 million. Sly Fox will be relocating its brewery from Royersford, Pa. Scott Williams of Binswanger's King of Prussia, Pa. office represented the buyer in the transaction. He also represented the seller, Charles Moyer.
WILMINGTON, DEL. — Keystone Property Group has purchased Citizens Bank Center, an 18-story, 221,686-square-foot office tower, located at 919 North Market St. in Wilmington, for $22 million. Jonathan Carpenter and James Wellschlager of Cassidy Turley represented the seller, the Receivership Estate Over Specific Assets of B&R 919 LLC, in the transaction. The building is 80 percent leased.
HOUSTON, SPRING AND KATY — ARA has brokered the sale of a 940-unit multifamily portfolio featuring the 318-unit Piney Creek in Houston, the 304-unit Spring Creek in Spring and the 318-unit Downs at Cinco Ranch in Katy. David Mitchell, David Oelfke, Matt Rotan and David Wylie of ARA's Houston office represented the undisclosed seller in the transaction. Camden Property Trust was the buyer.
PARIS — Paris Junior College, located at 2400 Clarksville St. in Paris, has selected Plano-based SHW Group to design its $11 million, 41,800-square-foot Science and Technology Center. The new facility will provide classrooms, laboratory space and departmental offices. Construction began in October of this year and is slated for a December 2012 completion.
DALLAS AND FORT WORTH — Nebraska Furniture Mart has purchased four parcels of land, located south of Highway 121 and east of Plano Parkway in the Dallas/Fort Worth area, totaling 433 acres,to develop its fourth and largest store in the country. Larry Leon, Jonathan Cooper and Bob Moore of Venture Commercial Real Estate's Dallas office represented the buyer in the purchase of a 308-acre tract. The seller was Maharishi Global Development Fund. David Davidson Jr. of Venture's Dallas office and David Davidson Sr. of Davidson Real Estate helped Leon, Cooper and Moore in the purchase of the surrounding three parcels.
THE WOODLANDS — The Woodlands Development Co. has secured a $55 million loan for two office buildings, the 216,000-square-foot 4 Waterway Square and the 95,078-square-foot 9303 New Trails, located in The Woodlands. Both properties are well-occupied — 4 Waterway Square is 98.8 percent leased and 9303 New Trails is fully leased. The Woodlands Development Co. arranged the 12-year loan through Prudential Mortgage Capital Co. on behalf of Dallas-based The Howard Hughes Corp. The loan will refinance a maturing construction loan at 9303 New Trails.