SANDY, UTAH — W.J. Bradley Mortgage Capital Corp. has signed an eight-year lease for 50,000 square feet of office space at the Workers Compensation Building in Sandy. The financial terms were not disclosed. CBRE’s Scott Wilmarth, Tab Cornelison and Nadia Letey represented W.J. Bradley in this lease transaction.
Property Type
PHOENIX — Genworth Financial Trust Company has signed a 19,736-square-foot lease renewal and expansion at Phoenix’s Great American Tower. The global financial security company was represented by Peter Menna and Brandon Leach with Cassidy Turley BRE Commercial’s Office Group. Cushman and Wakefield’s Jerry Jacobs represented Great American’s landlord, 3200 N Central Ventures, Inc, in this transaction.
KISSIMMEE, FLA. — Lane Co. has sold the 384-unit Verano Apartments, located at 2200 Villa Verano Way in Kissimmee, to Waterton Associates for an undisclosed price. Jay Ballard, Ken Delvillar and Lindsey Pfaender of Cushman & Wakefield's Orlando, Fla., office represented the seller in the transaction.
DORAL, FLA. — Franklin Street Real Estate Services has negotiated the $3.67 million sale of the 44,100-square-foot Emerald Farms property, an industrial facility located at 9800 NW 17th St. in Doral. Joel Kattan and Hernan Prohaszka of Franklin Street's Fort Lauderdale, Fla., office represented the buyer, GK Emerald, an entity that includes K.G. International and a sister company, in the transaction. Nick Wigoda of Jones Lang LaSalle's Miami office represented the seller, Wells Fargo Bank, which acted as Trustee for JP Morgan Chase.
COLUMBIA, MD. — New Boston Fund has purchased the 84,300-square-foot Stevens Forest Green, an office building located in the Hillside Executive Park at the interchange of Route 29 and Broken Land Parkway in Columbia. James Wellschlager and Jonathan Carpenter of Cassidy Turley's Baltimore office represented LNR Partners, the seller, in the transaction. The buyer was self-represented by John Thompson and David Langol of New Boston's Mid-Atlantic office.
ALEXANDRIA, VA. — Prudential Mortgage Capital has arranged $80.5 million in refinancing through Freddie Mac for the 461-unit The Encore, a multifamily community located at 4619 Seminary Rd. in Alexandria. Jason Miller of Prudential Mortgage Capital Cos.' Washington, D.C., office arranged the 7-year loan on behalf of the borrower, Virginia-based Bonaventure Realty Group.
CHARLOTTE, N.C. — Cushman & Wakefield Sonnenblick Goldman's Atlanta office has arranged $25.7 million in acquisition debt financing on behalf of a partnership between AREA Property Partners and DW Management Co. The partnership used the funds to purchase a 559,750-square-foot building, located at 12801 Jamesburg Dr. in Charlotte, and a 443,520-square-foot building, located at 1075 Taylor Rd. in Chicago. A domestic bank provided the 5-year loan.
CHICAGO — Security Properties Inc. has introduced a plan to the Chicago City Council for the redevelopment of a 7-acre mixed-use site in Chicago. Built in 1977 by Security Properties Inc. and Crane Construction Company Inc., and in partnership with a consortium of four Chicago churches, Atrium Village currently includes more than 300 apartments. When complete, the project will be anchored by four residential towers and 1,500 new apartments. The project will also include 55,000 square feet of new ground-level retail space. The project's design team includes FitzGerald Associates, Bumgardner Architects and Hitchcock Design Group. All parties hope to have rezone permits in place by 2012 and break ground in 2013.
PLYMOUTH, MICH. — Signature Associates has negotiated the lease of 34,885 square feet of industrial space, located at 44895 Helm Court in Plymouth to The Kroger Co. of Michigan. Steve Gordon of Signature Associates' Southfield, Mich., office represented the landlord, Dembs Roth Group.
STILLWATER, MINN. — NorthMarq has arranged $1.7 million in first mortgage financing for Stonebridge Apartments, a 36-unit multifamily property located at 1203 Owen St. in Stillwater. The 10-year loan has a 30-year amortization schedule. Michael Padilla of NorthMarq's Minneapolis office arranged the financing for the borrower through its affiliate Amisphere Multifamily Fianance, a Fannie Mae DUS lender.