CHICAGO — A joint venture organized by Alex Brown Realty Inc. and Ameritus LLC has acquired a 150,815-square-foot office building in the medical district of Chicago for an undisclosed price. The Hasting Center was constructed in 1942 and is currently 90 percent occupied. The building is the office component of a larger industrial facility. The four-story building features loft office elements such as 15-foot ceilings, exposed ductwork, open floor plates and 10-foot windows. The joint venture plans to renovate the entrance, lobby and parking ratio.
TROY, OHIO — Midland Atlantic Properties has acquired Troy Towne Center, a 144,000-square-foot retail center in Troy, approximately 20 miles north of Dayton, for an undisclosed price. The shopping center is anchored by Kohl’s, Petco and Dollar Tree. Troy Towne Center is shadow anchored by a Walmart Supercenter and is surrounded by numerous retail outparcels. Other tenants at the retail center include Shoe Carnival, Sleep Outfitters and Verizon Wireless. The center, built in 1990, is 96 percent occupied. The seller in the transaction was undisclosed.
LAPEER, MICH. — Colliers International has arranged the lease of 6,000 square feet of restaurant space in Lapeer, approximately 60 miles north of Detroit. New China Buffet will occupy the space at 797 E. St. Lapeer Associates LLC is the landlord. Paul Lichtenberg and Morry Levin of Colliers International represented the landlord in the transaction.
DALLAS — Swagit Productions, which specializes in streaming media for government and TV stations, has leased 22,618 square feet of office space at North Central Plaza III, located at 12801 Central Expressway in Dallas. Kent Smith of NAI Robert Lynn negotiated the lease with Laura Maczka and Mark Jordan of JP Realty Partners / Sooner Management.
Jacobson Properties, RE/MAX Right Choice Broker $6.1M Sale of Medical Center Property in Connecticut
WESTBROOK, CONN. — Jacobson Properties and RE/MAX Right Choice have arranged the sale of Lakebrook Medical Center in Westbrook. An institutional healthcare real estate investment firm acquired the Class A medical office building for $6.1 million. At the time of sale, the 24,500-square-foot property was leased by Yale Heart & Vascular and Middlesex Hospital. Lisa Menin of Jacobson Properties and John LaBella of RE/MAX Right Choice handled the transaction. The name of the seller was not released.
BETHEL, PA. — Dermody Properties and Granite Real Estate Investment Trust leased 500,400 square feet of industrial space at Berks Park 78 in Bethel to a global consumer electronics company. The company will move into the facility in April and use the space for the distribution of its consumer home appliances. Gerry Blinebury and Adam Campbell with Cushman & Wakefield represented Dermody Properties in the lease, while Vincent Ranalli and John Schumacher of CBRE represented the tenant in the transaction.
LOWELL, MASS. — Novaya Real Estate Ventures has secured two new leases totaling 32,627 square feet at 55 Technology Drive in Lowell. In the first transaction, Lowell General Hospital leased 24,116 square feet to house an expansion for the hospital administrative offices. In the second deal, Contract Logix LLC inked a lease for 8,516 square feet, which will be used for the company’s headquarters. The two-story office building is now 100 percent leased. Additional tenants include Boston Scientific, Borrego Solar and Lowell Five Center Savings Bank. Joel Kahn of Equity Alliance LLC represented Lowell General Hospital, Matt Adams of NGKF represented Contract Logix, and Mark Reardon of CBRE| New England represented Novaya in the transactions.
MELVILLE, N.Y. — RUI Credit Services has expanded its lease by 11,834 square feet at the Melville Square Corporate Center at 1305 Walt Whitman Road in Melville. The company will now occupy 30,845 square feet on the second floor of the 165,310-square-foot office building, which is owned by The Feil Organization. Richard Caputi of Cresa Long Island represented RUI, while Nicholas Forelli and David Turino provided in-house representation for landlord.
MCALLEN, TEXAS — Marcus & Millichap has arranged the sale of Crossings Apartments, a 62-unit apartment property located at 1401 Dove Ave. in McAllen. Mike Moffitt Jr. of Marcus & Millichap’s Austin office and William Stover Jr. with the firm’s San Antonio office marketed the property on behalf of the seller, a private investor. Moffitt and Stover also secured the buyer, a partnership. Built in 1979, Crossings Apartments includes 16 one-bedroom units spanning 639 square feet, and 46 two-bedroom units spanning 780 square feet.
CHARLOTTE, N.C. — The Dilweg Cos. has purchased three Class A office buildings in Charlotte’s University/Northeast office submarket from two separate sellers. The sales price was undisclosed, but media outlets are reporting that the buildings sold for roughly $43.9 million. The properties, known as Resource Square I, II and V, total 335,593 square feet. Built between 1997 and 2000, the office buildings were 81 percent leased at the time of sale to tenants such as Brooks Equipment Co., FiServ, Huber Engineered Woods and Dassault Systems. Durham-based Dilweg Cos. has selected Charles Jonas and Karah Stumler of Foundry Commercial to lease the assets. Ryan Clutter of HFF represented the seller, a fund managed by DRA Advisors LLC, in the sale of Resource Square V.