SANTA CLARA, CALIF. — The Packard Humanities Institute has purchased a 49,500-square-foot industrial building in Santa Clara for $3,861,000. The non-profit foundation plans to occupy the entire building, which resides at 700 Nuttman Street. Scott Borgia with Cassidy Turley represented the seller, Laurel Industrial Park Associates, in this transaction.
ORLANDO, FLA. — Atlanta-based Pollack Shores Real Estate Group has broken ground on the $40 million, 326-unit Steel House Apartments, located at 750 N. Orange Ave. in Orlando. Poole & Poole Architecture is the architect for the project, Cambridge Swinerton is the general contractor, Bowyer Singleton is the civil engineer, Beasley & Henley is the interior designer and Foster Conant designed the landscaping and hardscapes. Amenities include a clubroom with skyline views of the city, a pool, fountains, fitness center, business center and gallery space. The first units will be completed in the fall of 2012, with full completion slated for February 2013.
ST. PETERSBURG, FLA. — Rockville, Md.-based CAPREIT has sold the 212-unit Isles of Gateway, an apartment complex located at 10600 Fourth St. N. in St. Petersburg, to Newton, Mass.-based Robbins Property Associates for $16.82 million. The property is 95 percent occupied. CBRE's Multi-Housing Group in Tampa represented the seller in the transaction.
ATHENS, GA. — Colo.-based Lulscal has purchased the 103,000-square-foot One Press Place, an office building located at 548 E. Clayton St. in Athens, from Augusta, Ga.-based Morris Communications for $13.5 million. The current tenant is the Athens Banner-Herald newspaper. Athens-based Nichols Land and Investment Co. represented the buyer in the transaction and will manage the property.
PLANTATION, FLA. — Marcus & Millichap has arranged the $6.2 million sale of a 12,863-square-foot Walgreens, located at 10181 W. Broward Blvd. in Plantation. There are currently 21 years remaining on the 25-year, triple-net lease with 10 5-year options. Ronnie Issenberg and Scott Sandelin of Marcus & Millichap's Miami office represented the seller, a private developer, in the transaction.
CHARLOTTE, N.C. — Walker & Dunlop has arranged $6.1 million in acquisition financing for the 202-unit Cameron at Hickory Grove, located at 5625 Keyway Blvd. in Charlotte. Stephen Farnsworth of the firm's New Orleans office arranged the 7-year loan with 2-years interest only and a 30-year amortization schedule through Freddie Mac's CME Program on behalf of the borrower, Atlanta-based Cortland Partners.
KANSAS CITY AND COLUMBUS — DDR (NYSE: DDR) and Glimcher Realty Trust (NYSE: GRT) have completed an agreement to swap two assets. Glimcher purchased the 650,000-square-foot Town Center Plaza in Kansas from DDR for $139 million. Macy's and Dick's Sporting Goods anchor the center. DDR has purchased the 700,000-square-foot Polaris Towne Center in Columbus from Glimcher for $80 million. Target, Lowe's Home Improvement, Kroger, Best Buy and T.J. Maxx anchor the center.
WAUKEGAN, ILL. — LIT Industrial Limited Partnership has renewed a 26,040-square-foot lease at 3250 N. Oak Grove Ave., an industrial property in Waukegan, Ill. Keith Puritz, Ryan Bain, Brett Kroner and Zach Graham represented the landlord, Ecologic Industries, in the transaction. They also represented LIT Industrial in the deal.
UPPER MACUNGIE TOWNSHIP, PA. —SunOpta Food Inc. has signed a long-term lease for 101,250 square feet of industrial space at 7108 Daniels Dr. in Upper Macungie Township. The company plans to use the facility to produce a range of organic fruit-based consumer packaged products. Stephen Bonge and Timothy Brogan of Grubb & Ellis represented the landlord, J.G. Petrucci Co., in the transaction. Michael Treacy and Joshua Levin of Binswanger represented SunOpta.
NEW YORK CITY — Oracle Corp. has signed an 11-year lease at 120 Park Ave. in New York City. The business hardware software firm will occupy 60,000 square feet at the Class A, 643,000-square-foot office building. Paul Glickman and Diana Biasotti of Jones Lang LaSalle represented the landlord, 120 Park Avenue Associates, in the transaction. Marcus Rayner and Jane Roundell of CresaPartners represented the tenant in the deal.