BROOKFIELD, WIS. — Aspen Physical Therapy has leased 3,000 square feet of space at Ruby Isle. The shopping center is located at 2205 N. Calhoun Road in Brookfield, 12 miles west of Milwaukee. Teresa Shemitis of Mid-America Real Estate –Wisconsin LLC represented the landlord in the transaction.
RYE, N.Y. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $29.6 million acquisition loan for International Corporate Center in Rye. Located at 555 Theodore Fremd Ave., the 168,499-square-foot office building was built in 1990. The 10-year, fixed-rate CMBS loan features five years of interest-only, a 30-year amortization schedule, a 4.32 percent rate and a 75% loan-to-value rate. Christopher Marks of MMCC arranged the financing for the undisclosed borrower.
BRICK, N.J. — Tryko Partners has acquired Burnt Tavern Rehabilitation and Healthcare Center in Brick for an undisclosed price. Located at 1049 Burnt Tavern Road, the center includes 148 skilled nursing beds with expansion potential and an assisted living component that can accommodate 23 clients. The company plans to launch a $1 million renovation program to upgrade the property, which has been renamed Willow Spring Rehabilitation and Healthcare Center. Planning renovations include a state-of-the-art sub-acute care unit, expanded rehabilitation facility with cutting-edge equipment and technology, and updated common areas, patient rooms and assisted living accommodations. Tryko Partners purchased the asset from the original developer, NuVision Management. Additional terms of the transaction were not released.
MADISON, CONN. — O,R&L Commercial has brokered the acquisition of a light industrial facility in Madison. Stone Heron LLC purchased the 42,000-square-foot property from Garland Associates for $2 million. Located at 14 New Road, the 42,000-square-foot property was developed in 1970 for Shoreline Industries and has been home to Garrity Industries since 1983. The property will become the new home of Pacuda Inc., which is relocating from Deep River, Conn. Timothy McMahon of O,R&L Commercial represented the buyer, while James Panczykowski of Binswanger represented the seller in the transaction.
HOLLYWOOD, FLA. — CBRE has brokered the $31.5 million sale of Emerald Place, a 300-unit apartment community located at 3910 N. 56th Ave. in Hollywood. The property includes a swimming pool, clubhouse, two tennis courts, children’s playground and night-time security. Emerald Place Apartments LLC purchased the asset from Emerald Place LLC. Calum Weaver and Robert Given led the CBRE South Florida Multifamily team in representing the seller.
ADAMSVILLE, ALA. — Marcus & Millichap has brokered the $2.7 million sale of Adamsville Town Center, a 26,026-square-foot strip retail center in Adamsville. Built in 2006, the property’s tenant roster includes Dollar General, Advance America, 1st Franklin, Papa John’s Pizza, Alfa Insurance and Alabama Power. Andrew Chason of Marcus & Millichap’s Mobile office represented the seller, a limited liability company based in Birmingham, in the transaction. The buyer was a private investment firm based in Birmingham.
DENVER – Greenbriar Plaza Shopping Center in Denver has sold to JS Western Retail Investments for $8.2 million. The center is located at 7041-7181 Pecos Street. It is fully occupied by 21 tenants, including Family Dollar, Ace Hardware, Pizza Hut and Grease Monkey. Acquisition financing was arranged by Bryan Gortikov of George Elkins Mortgage Banking Company. This is JS Western’s first acquisition in Colorado. The firm was represented by Chris Wiedenmeyer of Legacy Retail Group. The seller, Real Capital Solutions, was represented by Barry Higgins of Marcus and Millichap.
DENVER – Molson Coors Brewing Co. has leased 53,872 square feet in Denver. The 1.3-million-square-foot building is located at 1801 California Street in the city’s Central Business District. Molson Coors was represented by Ted Harris and Travis Young of Cassidy Turley. The landlord, Brookfield Office Properties, was represented by Nicholas Pavlakovich and David Sternberg of Cushman & Wakefield.
DALLAS — The Cantrell Co. has sold the 606-unit Spring Hill Apartments in north Dallas. Spring Hill Investors LP of Dallas purchased the property located at 13750 Maham Road. HS Spring Hill LLC of California was the seller. The complex is a Class C property with below-market rents for the north Dallas submarket. Units average 789 square feet. The 72-building complex was built between 1969 and 1978 on 25.6 acres.
MARYVILLE, MO. — Chicago-based Baum Realty Group LLC has brokered the $5.3 million sale of a single-tenant property in Maryville net-leased to Walgreens. The property, located in northwest Missouri, was sold at 99 percent of its asking price. Walgreens has 20 years remaining on the triple-net lease. Patrick Forkin and Brad Teitelbaum of Baum represented the seller, a Missouri-based private developer, in the transaction. A West Coast-based private investor purchased the property in a 1031 tax-deferred exchange.