CHICAGO — The Telos Group LLC has arranged a 49,464-square-foot lease for Cision at One Prudential Plaza in Chicago. Cision, a provider of public relations software and services, will occupy the entire seventh floor of One Prudential Plaza. The building’s ownership, Berkley Properties and 601W Cos., have committed nearly $85 million of improvements, which include the lobby and plaza areas as well as new and upgraded amenities. Jesse Van Dyke of JLL represented Cision in the transaction. Matt Pistorio and Bill Truszkowski of Telos represented building ownership.
FLORIDA CITY, FLA. — Hilton Worldwide has opened its first Home2 Suites by Hilton hotel in the state of Florida: the Home2 Suites by Hilton Florida City. R.A. & R.E. Inc. owns the five-story, 96-suite hotel located at 77 N.E. 3rd St., situated off Exit 1 of the Florida Turnpike. The hotel represents the Home2 Suites by Hilton brand’s expansion into its 16th state since its first hotel opened in 2011. Amenities at the pet-friendly hotel include an indoor saline pool, gas barbecue grills, a combined laundry and fitness area called Spin2 Cycle, an Oasis lobby area and a complimentary continental breakfast for guests.
BALTIMORE CITY, MD. — The Greysteel Co.’s Mid-Atlantic retail investment sales team has brokered the $12.3 million sale of Belair Edison Crossing, a grocery-anchored shopping center located at 2401 Belair Road in Baltimore City. The 204,000-square-foot asset was fully leased at the time of the sale to tenants such as Food Depot, Dollar General, Forman Mills, Maxway, B. Green Cash and Carry and the Social Security Administration. Gil Neuman of Greysteel led the team that represented the seller, 2401 Belair LLC, and procured the buyer, Belair Edison Investors LLC.
BOSTON — CBRE/New England’s Debt & Structured Finance team has secured two separate acquisition loans for a three-building portfolio and an office building in Boston. The team secured $21.4 million from Brookline Bank for the Summer Street Portfolio, which comprises 71, 77 and 87 Summer Street in Boston and $27.8 million from Rockland Trust for 38 Chauncy Street in Boston. CBRE/NE’s Carlos Febres-Mazzei, Kyle Juszczyszyn, Chris Coutts, Alex Bradley and Taylor Shepard arranged the financing on behalf of Synergy Investments and DivcoWest. The Summer Street Portfolio totals 90,070 square feet and is 97 percent occupied. 38 Chauncy Street recently underwent significant capital improvements with several million invested in base building enhancements to the heating and cooling systems, elevators and lobby.
NEW YORK CITY — Forest City Enterprises Inc. has completed the acquisition of the interest of its equity partner, Arizona State Retirement System (ASRS), in B2 BKLYN. Located in Pacific Park Brooklyn, the modular apartment building features 363 residential units. The buyout of ASRS’s equity interest to date, for which Forest City paid $40.5 million, removes B2 BKYLN from the $400 million residential development fund between ASRS and Forest City. Additionally, the company assumed ASRS share of the debt on B2. Work recently ceased on the project when the construction contractor, Skanska USA, shut down construction at the property and closed the factory being used to build the modular units. The project is now the subject of litigation between the company and Skanska.
YORKTOWN, N.Y. — GHP Office Realty has acquired two properties totaling 351,811 square feet of mixed-use space in Yorktown. The 209,000-square-foot property at 2649 Strang Blvd. is occupied by ENT & Allergy Associates, Hudson Valley Hematology, North Shore-Long Island JHS, Northern Westchester County Dental, Hudson Valley Oral Surgery and Dialysis Clinic Inc. The one-story, 142,811-square-foot building at 2651 Strang Blvd. is home to Mercy College’s Yorktown campus. In total the buildings are 40 percent occupied. Andrew Greenspan, Jamie Schwartz, Mike Cinicolo, Andrea Lofaro and Harrison Lyss provided in-house representation for GHP Office Realty in the transaction. Elizabeth Smith of Goldberg Weprin Finkel Goldstein LLP provided legal counsel and Jim Maloney of The Great American Title Company provided title services for GHP. Additional details of the transaction were not released.
MERIDEN, CONN. — O,R&L Commercial has brokered the sale of 75 South Colony Street in Meriden. Efrain Valentin of Valentin Karate School purchased the 15,641-square-foot property for an undisclosed price. The buyer plans to fully renovate the property and use it as the headquarters for Valentin Karate. Frank Hird and Tim McMahon of O,R&L Commercial represented the seller, The Record-Journal Company, in the transaction. John Murphy of John J. Murphy Law Offices also represented the seller and Neil Ivers represented the buyer. The financing was provided by Ion Bank of Naugatuck and Community Investment Corp. was the SBA lender.
IRVINE, CALIF. — Lincoln Property Company has purchased Michelson Marketplace, a 32,560-square-foot shopping center within the Irvine Business Center. Though the final selling price was not disclosed, the publicly listed asking price was $13 million. The marketplace is located at 2222 and 2272 Michelson Drive. It is 90 percent occupied. Lincoln plans to renovate the 29-year-old shopping center. Lincoln Property represented itself in this transaction, while the private seller was represented by Michelle Schierberl, Donald Ellis, Jereme Snyder and Mark Joens of Colliers.
LAS VEGAS – A 1,040-unit self-storage facility in Las Vegas has sold to Strategic Storage Growth Trust (SSGT) for $6.1 million. The facility is located at 4349 South Jones Blvd. The site is 55 percent occupied. The 92,000-square-foot property is located about nine miles from SSGT’s recent acquisition on Russell Road. It will be re-branded under the SmartStop Self Storage trade name.
SAN DIEGO – A 33,715-square-foot office and industrial building in San Diego has sold to Ingold Family Investments for $5 million. The building is located at 7740 Kenamar Court within the Centerpointe Court in the Miramar submarket. It is situated near Interstates 805 and 15. The space is fully leased to California Comfort Systems, USA, a mechanical and plumbing contractor. Ingold was represented by Lee & Associates. The seller, Providence II Centerpointe, was represented by Dan Vittone and Alan Pekarcik of Avison Young’s Irvine office.