POMPANO BEACH AND LANTANA, FLA. — Stiles Realty has arranged the sale of two former City Furniture stores in two separate transactions. In Pompano Beach, Spring Holding purchased the 58,811-square-foot showroom, located at 1001 W. McNab Rd., for $3.52 million. CBRE represented the buyer. In Lantana, Lantana Holdings bought the 44,000-square-foot store, located at 1330 W. Lantana Rd., for $3.3 million. Stiles Realty represented Advanced Business Associates, the seller, in both transactions.
SCOTTSBORO, ALA. — Cassidy Turley has brokered the $2.86 million sale of the 60,000-square-foot County Park Plaza, located at 1402 County Park Rd. in Scottsboro. Aaron's Sales & Leasing and Food World anchor the center, which is currently 95 percent leased. Drew Fleming and Mark Joines of Cassidy Turley's Atlanta office represented RCG Ventures, the seller, in the transaction. The buyer was an Atlanta-based private equity group.
CARROLLWOOD, FLA. — Weingarten Realty Services has purchased a 6.33-acre property, located on Northdale Boulevard in Carrollwood, for $2.75 million to build a 37,144-square-foot Whole Foods. Jeff Tolrud of Colliers International's Tampa Bay, Fla., office represented Northdale Associates, the seller, in the transaction. Weingarten will clear the former JC Penney Credit Processing building currently occupying the site. Whole Foods is expected to open in late 2012.
CHICAGO — In a joint venture, Chicago-based Fifield Cos. and national developer Wood Partners have broken ground on K2, a 34-story apartment tower, located at 365 N. Halsted St. in Chicago. The apartment tower will include 496 units and 348 parking spaces. McHugh Construction is the general contractor and Pappageorge/Haymes is the architect for the project, which is scheduled for completion in 2013. Residences at K2 will include studio, one-, two- and three-bedroom apartments.
COLUMBIA, MO. — St. Louis-based Paric is beginning construction on a $50 million addition and renovation at Lenoir Woods continuing care retirement community in Columbia, Mo. The five-year project is planned in phases, and construction includes a new two-story assisted living building, a four-story independent living building with underground parking and a new memory care facility. The senior living community is operated by St. Louis-based Lutheran Senior Services.
VORHEES, N.J. — Marcus & Millichap Real Estate Investment Services has negotiated the $15.9 million sale of a retail condominium in Vorhees, N.J. net-leased to BJ's Wholesale Club. Matthew Gorman, Tom Gorman and Michael Shover of Marcus & Milllichap's Philadelphia office represented the seller, a local developer. The Gormans and Shover also teamed with Marcus & Millichap's Mark Taylor and Dean Zang to represent the buyer, H&R Reit of Canada. The 115,396-square-foot property was developed as a reverse built-to-suit for BJ's Wholesale Club in 2004. BJ's has 13 years of term remaining on the 20-year lease.
DOVER, DEL. — NorthMarq Capital has arranged $18.9 million in first mortgage financing for Eagle Meadows, a 294-unit multifamily complex, located at 4666 Carolina St. in Dover, Del. Financing was based on a 10-year term with a 30-year amortization schedule. Sam Berns of NorthMarq arranged the financing through the company's affiliate, Amerisphere Multifamily Finance LLC, a Fannie Mae DUS lender.
HARLEYSVILLE, PA. — King of Prussia, Pa.-based Jack Horner Communications Inc., a public relations firm, has purchased the former Harleysville National Bank Building in Harleysville, Pa. The two-story, 11,381-square-foot building is located at 474 Main St. The Harleysville National Bank property was previously owned by First Niagara, which also financed the transaction. Jack Horner Communications plans to renovate and move into the space in January from its current headquarters. Terry Derstine of Harleysville-based Prudential Rittenhouse Realty Group represented both parties in the transaction.
PHILADELPHIA — Malvern, Pa.-based Liberty Property Trust, in joint partnership with Parkway Corp., has broken ground on Pennsylvania Medicine at Washington Square, a new 12-story medical facility in Philadelphia. The 153,242-square-foot high-rise will be developed atop an existing parking garage on the southwest corner of 8th and Walnut Streets. Pennsylvania Medicine has signed a 20 year lease for the facility. Liberty's investment in the project will be $49.6 million and Pennsylvania Medicine will invest $22 million for the interior fit-out. The building is scheduled to open in the summer of 2013. Pennsylvania Medicine at Washington Square will house outpatient services for Pennsylvania Hospital.
MANHATTAN — New York-based Massey Knakal Realty Services has completed the sale of a 40-unit apartment building, located at 712 W. 176th St. in Northern Manhattan's Washington Heights neighborhood, for $5.3 million. Robert Shapiro of Massey Knakal represented the seller, Oak Point Management, in the transaction. The buyer was undisclosed.