ATLANTA — CBRE has brokered the $23 million sale of Lakeside Village, a 310-unit apartment community located on a 50-acre parcel in Atlanta. FPA Multifamily purchased the property from Arenda Capital Management LLC, a private investment firm based in Los Angeles. Lakeside Village’s units average 1,400 square feet, among the largest floorplans in the North DeKalb submarket according to CBRE. Shea Campbell and Kevin Geiger of CBRE’s Southeast multifamily group represented the seller in the transaction.
JACKSONVILLE, FLA. — CPA:18-Global, a non-traded REIT sponsored by W. P. Carey Inc., has purchased an 88,000-square-foot office building located in Jacksonville’s Southside submarket. The Class A property is triple-net leased to Acosta Inc., an affiliate of The Carlyle Group, for 12 years. Built in 2001 as a build-to-suit for Acosta, the property serves as Acosta’s corporate headquarters and houses 400 employees.
GREER, S.C. — Lincoln Property Trust has signed a 31,200-square-foot lease with Ariens Co. for industrial space at 120 Caliber Ridge Drive. The 62,400-square-foot industrial facility is situated within Caliber Ridge Industrial Park, a 624,000-square-foot industrial park located at I-85 and Highway 101 near Greer’s inland port. Elliott Fayssoux, Brian Young and Kacie Jackson of Cushman & Wakefield | Thalhimer represented Lincoln in the lease transaction. Campbell Lewis of CBRE represented Ariens Co., an outdoor equipment manufacturer based in Wisconsin.
BELLEVILLE, ILL. —Impact Strategies has begun construction on a new police headquarters in the City of Belleville, approximately 17 miles southeast of St. Louis, Mo. The station will be located at 720 W. Main St., previously occupied by the Bank of Belleville building. The facility will include a forensics lab, dispatch center, sally port and a community classroom able to accommodate 60 people. Construction plans for the 44,000-square-foot station also include a secured evidence storage area and dedicated storm areas that allow for increased safety for employees and prisoners. Impact Strategies will also construct a new, freestanding parking garage adjacent to the police headquarters. The garage is designed to hold 46 police cruisers and will include a mechanics area for city vehicles. Construction is expected to be complete in the spring of 2016.
VANCOUVER, WASH. — Evans Senior Investments has arranged the sale of a three-property seniors housing community, all located on the same campus in Vancouver, to a publicly traded REIT for $18 million. The three properties are Fort Vancouver Convalescent Center, a skilled nursing facility; Caretique, a memory care community; and Park Lido, an assisted living facility. With 136 total beds, the sale price represents $132,353 per unit. Opened in 1982, additions and buildings were added on to the facility in 1985 and 1992. At the time of the transaction, occupancy ran between 70 percent and 80 percent for the facilities. The capitalization rate was 11.7 percent based on the trailing 12 months of net operating income.
HOUSTON — GSI has renewed its lease of 16,440 square feet at the Norfolk Tower building located at 2211 Norfolk St. in Houston. Griffin Jaggard and Terri Torregrossa of Moody Rambin represented the building’s owner, The Realty Associates Fund IX, in negotiations. Don King with Jones Lang LaSalle represented the tenant.
TOMBALL, TEXAS — Colliers International has arranged sale of a 17.4-acre tract of land at the southwest corner of Hufsmith-Kohrville and Spell roads in Tomball for the relocation and consolidation of Packers Plus Energy Services Inc.’s Houston-based operations to a single campus. The $21 million project, the first for the Tomball Business and Technology Park, will be constructed in phases and consist of a 50,000-square-foot research and development center, a 237,000-square-foot manufacturing building and a multi-story, 40,000-square-foot corporate office building. The seller was Tomball Economic Development Corp. Tom Condon Jr. of The Woodlands office of Colliers International represented the seller. Brandi McDonald of Newmark Grubb Knight Frank represented the buyer. Jane Matthews with Stewart Title Tomball coordinated the closing. Packers Plus is an international oil and gas service company. The new facility in Tomball is expected to create 353 new full-time jobs in Tomball, with 172 of the jobs being created in the first five years of operation.
NORWALK, CONN. — Building and Land Technology has signed 68,500 square feet of office leases at Merritt on the River, a 225,000-square-foot office building located at 20 Glover Ave. in Norwalk. Rocaton Investment Advisors signed a new leased for 21,228 square feet. The company will relocate to the new space this fall from Merritt 7 Corporate Park. Ed Tonnessen and Ethan Rice of JLL represented the tenant in the deal. Wilton Re is also relocating to Merritt on the River from 187 Danby Road in Wilton, Conn. Kevin Foley and William Montague of Cushman & Wakefield represented the tenant in the 21,480-square-foot transaction. Additionally, Aetna renewed its 5,934-square-foot lease and McKesson Health Solutions renewed its 10,859-square-foot lease. Paul Tortora and William Fitzgerald of JLL represented Aetna, and Kevin McCarthy of CBRE represented McKesson in the transactions.
NEW JERSEY — Winick Realty Group has brokered five new leases for Jersey Mike’s Subs in new markets across New Jersey. The restaurant is leasing 1,800 square feet at 1350 Galloping Hill Road within Galloping Hill Shopping Center in Union; 1,427 square feet at 757 Bloomfield Ave. in West Caldwell; 1,600 square feet at Shoppes at Raider Boulevard in Hillsborough; 1,300 square feet at 2100 Route 35 in Ocean Township; and 1,200 square feet at 1260 Springfield Ave. in New Providence. Gary Krauss of Winick Realty Group represented various Jersey Mike’s Subs franchisees in each transaction.
MILWAUKEE, WIS. — The Dickman Company/CORFAC International has brokered the sale of a 5,000-square-foot industrial building located at 6014 West Beloit Road in West Allis, approximately six miles west of downtown Milwaukee. Anthony Huenerbein of The Dickman Company represented the undisclosed buyer and Mitchell Starczynski of NAI MLG Commercial represented the seller, Able Equipment Co.