WASHINGTON TOWNSHIP, N.J. — Markeim Chalmers has negotiated a long-term lease for The Rothman Institute to occupy 20,000 square feet of a new 40,000-square-foot medical office building at Washington Township Town Center in Washington Township. Scott Martin represented both the tenant, The Rothman Institute, and developer The Atkins Cos. in the transaction. Located between Virtua Wellness Center and Kennedy Hospital, the two-story building is scheduled for completion by January 2018.
TOMBALL AND JOURDANTON, TEXAS — HCA Holdings, a Tennessee-based, publicly traded operator of more then 300 medical properties, will acquire two hospitals totaling 417 beds in Texas from subsidiaries of Community Health Systems. The two properties are Tomball Regional Medical Center, a 350-bed facility in the Houston metro of Tomball, and South Texas Regional Medical Center, a 67-bed facility in the San Antonio metro of Jourdanton. The transaction is expected to close this summer.
MISSISSSAUGA, ONTARIO — R&R Real Estate Investment Trust (R&R REIT) has agreed to acquire a portfolio of nine extended stay hotels in the Southeast and Midwest totaling 1,020 rooms for an aggregate purchase price of $35 million. The properties are currently owned and operated by entities controlled by R&R REIT’s Majid Mangalji and Michael Klingher. Five of the hotels operate under the HomeTowne Studios brand, and the remaining four operate under the HomeTowne Suites brand. The properties are located in Kentucky, Georgia, Mississippi, Arkansas, Louisiana, Alabama, Illinois and South Carolina. Blake, Cassels & Graydon LLP and Greenberg Traurig LLP acted as legal counsel to the REIT, and Raymond James Ltd. acted as financial advisor to the special committee charged with approving the portfolio acquisition. Following the closing of the acquisition, the REIT’s portfolio will comprise 10 hotels located in nine states.
GREENSBORO, N.C. — Colliers International has brokered the $20.8 million sale of Hidden Lakes Apartments, a 483-unit multifamily community located in Greensboro. Living Well Homes purchased the asset from CORE Realty Holdings Management Inc. Will Mathews and Brooks Colquitt of Colliers represented CORE Realty in the transaction. Colliers has brokered five sales on behalf of CORE Realty in the past 10 months.
KISSIMMEE, FLA. — Crossman & Co. has added Toys “R” Us at The LOOP, an open-air shopping destination located at 3208 N. John Young Parkway in Kissimmee. Toys “R” Us will join The LOOP’s existing tenants including Kohl’s, Ross Dress for Less, Bed Bath & Beyond, Michaels, Petco, Old Navy, CVS/pharmacy, Famous Footwear, LensCrafters, T-Mobile, Kay Jewelers, Chili’s Bar & Grill, Chick-fil-A, Noodles & Co., Ben & Jerry’s, Chipotle Mexican Grill and Regal Stadium 16. Katherine Rush of Crossman & Co. represented the landlord in the lease transaction, and Steve Friedman of Strategic Retail Advisors represented Toys “R” Us. The new lease brings The LOOP’s occupancy rate to 96 percent. Toy “R” Us operates 879 Toys “R” Us and Babies “R” Us stores in the United States, Puerto Rico and Guam, as well as 810 international stores and 255 licensed stores in 37 countries and jurisdictions.
BETHEL TOWNSHIP, PA. — The northeast regional office of Duke Realty Corp. has purchased 73 acres in Bethel Township for future development. The land, known as Central Logistics Park, fronts I-78 and can support the construction of a warehouse up to 832,000 square feet. Duke plans to develop a bulk warehouse on the site, which will be its fifth building in the Lehigh Valley area.
WEST NEW YORK, N.J. — Marcus & Millichap has arranged the $1.9 million sale of a 3,500-square-foot net leased property in West New York. A Sleepy’s/Mattress Firm occupies the property. Michael Lombardi and Alexander Pildes of Marcus & Millichap’s New Jersey office marketed the property on behalf of the seller, a private investor. The team also secured and represented the buyer, a private investor.
FRANKLIN, MASS — Garrett Quinn of SVN Parsons Commercial Group Boston has negotiated a 13,904-square-foot industrial lease in Franklin. Quinn represented the tenant, MGB USA, in the lease at 157 Grove St., a 76,268-square-foot flex building located near I-495. McKenna Teague of Transwestern RBJ represented the landlord, GRE Grove Street Two LLC. MGB USA is moving from its current facility located at 121 Flanders Road in Westborough. The company manufactures precision electrical components used in applications including aerospace, defense, medical, telecommunications, and automotive hybrid and electrical instrumentation.
SAYVILLE, N.Y. — Breslin Realty has brokered a long-term lease with Chipotle Mexican Grill at Sayville Plaza in Sayville. Chipotle will occupy 2,300 square feet of newly constructed space in a shopping center located at the northwest corner of Sunrise Highway and Johnson Avenue. Other tenants at Sayville Plaza include Kmart, Bed Bath & Beyond, OfficeMax, Babies R Us, Modell’s Sporting Goods, Old Navy, Pier 1 Imports, The Vitamin Shoppe, Chase Bank, Sprint and Panera Bread. Breslin’s Robert Delavale negotiated the transaction on behalf of the landlord.
MILL VALLEY, CALIF. — Mill Valley-based Four Corners Property Trust Inc. has acquired 16 properties occupied by Bob Evans Restaurants as part of a $35.1 million sale-leaseback transaction. The transaction was completed simultaneously with Golden Gate Capital’s acquisition of Bob Evans Restaurants from Bob Evans Farms Inc. The properties are occupied under a single triple-net master lease with a 20-year initial term. They are primarily based in the Midwest and Northeast.
