BELLFLOWER, CALIF. – The 60,000-square-foo tRosewood Center in Bellflower has sold to Bequer Investments for $6.5 million. The shopping center was 70 percent occupied at the time of sale. Bequer was represented by CBRE’s Arthur Flores. The seller, AG/BP Rosewood, LLC, was represented by Christopher E. Maling and David Maling from Colliers’ Downtown Los Angeles office.
COLUMBIA, MD. – Cassidy Turley has brokered the $16.15 million sale of Hillside Center I & II, two office buildings totaling 86,189 square feet, located at 6310 & 6315 Hillside Ct. in Columbia. Jonathan Carpenter and Jay Wellschlager of Cassidy Turley's Baltimore office represented Corinthian Realty Partners, the seller, in the transaction. The buyer was First Potomac Realty Trust.
WEST PALM BEACH, FLA. — Marcus & Millichap has negotiated the $7.1 million sale of the 28,346-square-foot Century Village Medical Office, located at 100-110 Century Blvd. in West Palm Beach. Douglas Mandel of Marcus & Millichap's Fort Lauderdale, Fla., office represented the seller, a Boca Raton, Fla.-based limited liability company, in the transaction and procured the buyer, a Pompano Beach, Fla.-based investor.
WYTHEVILLE, VA. — The 144-unit Northwinds Apartments, located at 2355 N. 4th St. in Wytheville, has been sold for $2.5 million. Alan Meetze and David Hudgins of Drucker & Falk's Newport News, Va., office represented the seller, Northwinds Apartments LP., in the transaction. The buyer was Northwinds Apartments LLC.
FREDERICKSBURG, VA. — Brava Enterprises has purchased the 22,200-square-foot RC Lee Carpet One building, located at 3711 Lafayette Blvd. in Fredericksburg, from RC Lee Property Acquisitions for $1.25 million. Jamie Scully and Mike Degen of Cushman & Wakefield/Thalhimer's Fredericksburg office represented both parties in the transaction.
TUSCALOOSA, ALA. — Walker & Dunlop has closed on $28 million in financing for the second phase of the 669-bed The Retreat at Lake Tamaha, a student housing community located in Tuscaloosa. The 8-year loan has a 30-year amortization schedule. The first phase of the property was financed approximately 2 years ago with a 10-year term and the new loan will be coterminous with the loan on the first phase. Tim Bradley of TSB Capital Advisors originated the loan on behalf of the borrower, Landmark Properties, and Will Baker of Walker & Dunlop's Bethesda, Md., office led the Walker & Dunlop team.
BRIDGETON, MO. — New York-based Lightstone Value Plus Real Estate Investment Trust has purchased The Plaza at DePaul, a 193,543-square-foot retail center in Bridgeton. for $19.8 million. Located at the intersection of St. Charles Rock Road and McKelvey Road, the property is anchored by a recently remodeled Kohl's department store. The seller was DePaul 2002 LLC, an affiliate of St. Louis-based The Love Cos. Lightstone was self-represented in the transaction.
AUSTIN, TEXAS — Austin-based AIC Ventures has acquired two industrial buildings from Northern Stamping Inc. for an undisclosed amount. The buildings include an 85,000-square-foot facility in Valley View, Ohio and a 160,000-square-foot facility in Cuyahoga Heights, Ohio. Concurrent with the purchase, AIC Ventures entered a long-term lease with Northern Stamping, a manufacturer of structural components and welded assemblies for the global automotive market. Greg West of Colliers International represented both parties in the transaction.
PEORIA, ILL. — The Boulder Group has completed the $1.1 million sale of a single-tenant, net leased building occupied by Starbucks, located at 4820 N. University St. in Peoria. The 1,928-square-foot building was developed in 2005 on an outparcel to a Schnuck's grocery store. Randy Blankstein and Jimmy Goodman of The Boulder Group's Northbrook, Ill. office represented the seller, a partnership based in Arizona. The buyer was a private individual investor from Los Angeles.
BOSTON — Suffolk Construction has broken ground on Millennium Place III, a 390,000-square-foot residential tower in Boston's Downtown Crossing neighborhood. The $220 million project includes 256 units with one-, two- and three-bedroom apartments and 9,700 square feet of retail space on the ground floor. The developer is Millennium Partners, and Handel Architects of New York is the architect. The building is slated for completion in the fall of 2013.