PHILADELPHIA — Bloomingdale’s The Outlet Store, a brand of Macy’s Inc. will open at the Shops at Liberty Place at 1625 Chestnut Street in Philadelphia. The 20,000-square-foot location is scheduled to open in December. Michael Salove and Brittany Goldberg of MSC Retail exclusively represent Macy’s Inc. in the Greater Philadelphia region.
NORTH FORT MYERS, FLA. — RD Management has purchased Merchants Crossing, a 323,061-square-foot shopping center located at 15201 N. Cleveland Ave. in North Fort Myers, for $20.5 million. The property’s tenants include a 16-screen AMC Theatre, Bealls Outlet and Jo-Ann Fabrics. RD’s plans for the center include a major façade renovation, remodel and re-tenanting of the vacant Sears building, landscape modifications and an upgrade to the courtyard. RD purchased the asset from Noble Properties. HFF brokered the transaction.
SANFORD, FLA. — Bell Partners Inc. has purchased the newly built Integra Village, a 209-unit apartment community located at 101 Integra Village Trail in Sanford, a suburb of Orlando. Bell Partners purchased the property for $33.5 million on behalf of Bell Fund V. Developed by The Integra Land Co. in 2015, the property’s interiors feature kitchen islands, granite countertops, stainless steel appliances, new cabinetry, hard-surface flooring tile baths and screened-in porches. Community amenities include a salt water pool with an outdoor grilling area, fitness center and a clubhouse with a billiards room. Bell Partners will manage the property and will rename it Bell Lake Forest. The purchase of Bell Lake Forest was the sixth multifamily acquisition for Bell in 2015. With this transaction, Bell has completed more than $980 million in total transactions this year.
CHICAGO — Essex Realty Group Inc. has brokered the $1.5 million sale of a vacant warehouse property on the south side of Chicago. The building, Kissel Kar Lofts, is three stories and 54,000 square feet. Located at 2550 S. Wabash Ave., the property is in need of a full rehabilitation. Doug Fisher and Jason Fishleder of Essex brokered the transaction. The buyer and seller were undisclosed.
RACINE AND OCONOMOWOC, WIS. — Brokerage firm Siegel-Gallagher has completed two lease renewals in separate transactions in Wisconsin. In the first transaction, Check Into Cash of Wisconsin LLC renewed its 1,200-square-foot retail lease at 5201-5409 Washington Ave. in Racine. The property is owned by Racine Shopping Centre LLC. Devin Tessmer of Siegel-Gallagher arranged the transaction. In the second deal, Froedtert Memorial Lutheran Hospital renewed its 5,837-square-foot office lease in Oconomowoc. Ohio National Life Insurance is the landlord of the property located at 1230 Corporate Center Drive. Shaun Dempsey of Siegel-Gallagher brokered the deal.
LIVE OAK, TEXAS — Venture Commercial has completed a lease on behalf of Northern Tool + Equipment in Live Oak in The Village at Forum Parkway shopping center. Clay Mote of Venture Commercial negotiated the deal on behalf of the tenant. David Nicolson of The Weitzman Group represented the landlord. The Village at Forum Parkway is located at 14619 I-35 North. Northern Tool opened its first store in 1981. Major segments that Northern Tool services include automotive, agriculture and construction. The hardware retailer also sells tools for woodworking, hunting, fishing and home improvement.
NEW YORK CITY — Thor Properties has purchased a Class A office property at 180 Livingston Street, located between Smith and Hoyt streets in downtown Brooklyn, from Treeline Cos. Stephen Palmese of Cushman & Wakefield brokered the $85 million all-cash sale. The property is a 154,000-square-foot office condominium that occupies floors three through six of the building and features three office tenants, with the MTA serving as the anchor. The property also holds development potential with an additional approximately 142,525 buildable square feet as-of-right, which can be expanded to approximately 213,155 square feet with use of an inclusionary housing bonus. The sale price equates to approximately $552 per square foot.
HOUSTON — Marcus & Millichap has arranged the sale of West Hardy Business Park, a 69,002-square-foot industrial property located in Houston. Thomas Costello of Marcus & Millichap’s The Woodlands office marketed the property on behalf of the seller, a partnership. Costello also secured the buyer, a limited liability company. West Hardy Business Park is located at 15955 W. Hardy Road.
LOUDON, TENN. — NAI Knoxville has arranged the sale of a 334,024-square-foot industrial property situated on a 108-acre lot at 9600 Corporate Park Drive in Loudon. Morgan Olson LLC, a walk-in van body manufacturer, purchased the asset from Astec Underground Inc. for $10 million, according to media outlets. Morgan Olson plans to bring more than 400 jobs to the facility. James Roberson of NAI Knoxville, along with Bryan Rudisill of NAI Charter, brokered the transaction.
DULUTH, GA. — Passco Cos. LLC has purchased The Estates at Crossroads, a 344-unit apartment property located at 2620 N. Berkeley Lake Road in Duluth, a northeast suburb of Atlanta in Gwinnett County. Built in 2002, the property features one-, two- and three-bedroom units with 9-foot ceilings with crown molding, walk-in closets, ceramic tile flooring, full sized washer and dryer units, custom cabinetry, breakfast bars, garden tubs and a private patio or balcony. The property’s amenities include a resort-style pool with sundeck, clubhouse and cafe, fitness center, business center with Wi-Fi, detached garages and tennis facilities. The apartment complex was more than 97 percent occupied at the time of sale. Chris Black of KeyBank Real Estate Capital arranged an acquisition loan through Fannie Mae on behalf of Passco Cos. The sales price was undisclosed.