GLENDALE, CALIF. — Glendale-based Public Storage has purchased a six-property self-storage portfolio for $42 million. The 517,000-square-foot portfolio consists of 5,500 storage units. The properties are located in Philadelphia; Wayne, N.J.; Randolph, Mass.; Montclair, Calif.; and Pompano Beach and Hialeah, Fla. The portfolio is currently 65 percent occupied. Marc Boorstein and Jeff Jacobson of Chicago-based MJ Partners represented the seller, Babcock and Brown, and four lenders in the transaction.
WASHINGTON, D.C. — The 522,000-square-foot Terrell Place, located at 575 7th St. NW, has achieved LEED Platinum certification for Existing Buildings: Operations & Maintenance. Beacon Capital Partners and General Electric Pension Trust own the property, which is the first trophy office building to receive this designation. Cassidy Turley's Sustainability Services team handled the project management.
WASHINGTON, D.C. — Greysteel has arranged the sale of two multifamily buildings in Washington, D.C., totaling 69 units, for $2.32 million. The properties include the 33-unit 1 Hawaii Ave. NE and the 36-unit 113 Wilmington Place SE. Ari Firoozabadi, John Mullen, Kyle Tangney, Henry Schuldinger and Caleb Brown of Bethesda, Md.-based Greysteel, along with Marcus & Millichap, represented the sellers in both transactions. For 1 Hawaii Ave. NE, Carroll Associates sold the property to Mayfair LLC for $1.32 million. For 113 Wilmington Place, RM Cohen Investment Co. sold the property for $1 million.
DUNCAN, S.C. — Perrigo Co. has signed a 300,000-square-foot lease, located at 110 Hidden Lake Cir. in Duncan. The company will relocate and expand its operations from the SC Technology and Aviation Center in Greenville, S.C. Grice Hunt and Ford Borders of Greenville-based NAI Earle Furman represented the tenant in the lease transaction.
SUITLAND, MD. — Meridian Capital Group has arranged $16.3 million in acquisition financing for the 315-unit Parkway Terrace Apartments, located at 3415 Parkway Terrace Dr. in Suitland. Jacob Katz of Meridian's Bethesda, Md., office secured the 10-year loan with 2.5 years of interest only through Beech Street Capital.
MANASSAS, VA. — A 5,000-square-foot Uno's Chicago Grill, located at 10701 Bulloch Dr. in Manassas, has sold for $1.3 million. The property is leased to Uno's on a long-term, triple-net basis. Joe Pfahler of Fredericksburg, Va.-based Silver Commercial Brokerage represented the seller in the transaction and Rick Fernandez of Calkain Cos.' Reston, Va., office represented the buyer.
BALTIMORE — St. John Properties’ 71,000-square-foot headquarters building, located at 2560 Lord Baltimore Dr. in Baltimore, has received LEED Gold certification. The two story property includes green features such as a high-efficiency HVAC system, high performance windows, sustainable lavatory fixtures, a white thermoplastic polyolefien roofing system, wetland/forest preserves, drought-tolerant landscaping and low VOC paints, carpets and adhesives. The building is St. John Properties’ 14th project to receive LEED certification.
ARLINGTON, VA. — Lowe Enterprises has commenced construction on the $70 million renovation of the 308,000-square-foot 1400 Crystal Drive, a 13-story office building located in the Arlington submarket of Crystal City. The redevelopment will include the addition of a floor-to-ceiling glass facade and expansion of existing floor plates. The building is designed to achieve LEED Gold Certification. Completion is slated for April 2013.
CHARLOTTE, N.C. — Greensboro, N.C.-based Bell Partners has acquired the 214-unit Morrison at South Park Apartments, located at 721 Governor Morrison St. in Charlotte. Amenities include a pool, fitness center, clubroom and courtyards. The buyer plans to upgrade several of the amenities and renovate all units.
ORLANDO, FLA. — The design-build team of SchenkelShultz Architecture and McCree General Contractors has commenced construction on the $13.3 million, 59,511-square-foot Valencia College West Campus Building 10, located at 1800 S. Kirkman Rd. in Orlando. The three-story facility will house Valencia's Continuing and International Education office, the Office of Information Technology, classrooms, a testing center, administrative offices and meeting rooms. Completion is slated for January 2013.