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NORTHEAST

Rugby Realty has acquired 275 Dan Rd., a one-story, 99,689-square-foot flex/R&D building located in the Canton Commerce Center in Canton, Mass.

RUGBY REALTY ACQUIRES TWO BUILDINGS IN CANTON COMMERCE CENTER
CANTON, MASS. — Rugby Realty has acquired two office buildings in the Canton Commerce Center in Canton. Rugby purchased 85 Dan Rd., a one-story, 78,708-square-foot office building, from iStar Financial for $5.1 million. Organogenesis is slated to lease the facility. 275 Dan Rd., a one-story, 99,689-square-foot flex/R&D building, was purchased from CW Capital for an undisclosed price. Sean Teague, Joseph Fallon, William Foley of DTZ FHO represented Rugby Realty in the sale and Organogenesis in the lease negotiations. Cathy Minnerly and Jason Bryer of Cushman & Wakefield represented iStar Financial, and Richards Barry Joyce & Partners represented CW Capital in the sale.

HJ DEVELOPMENT CONVERTS APARTMENTS IN MIDTOWN
NEW YORK CITY — HJ Development is currently converting 211 E. 51st St. into condominium units. The former apartment facility is located between Third and Second Avenues in Midtown Manhattan, New York City. Upon completion, the converted building will feature 73 residences. One-bedroom units will range in size from 505 square feet to 868 square feet, and two-bedroom units will average 1,200 square feet. The building will also include two penthouse residences. Prices for the units range from $605,000 to $4.5 million. Completion is slated for July 2008.

MJH BIRCHWOOD RENOVATES 117 UNITS
NEW YORK CITY — MJH Birchwood has begun renovations of 117 units in the 244-unit The Residences at Jackson Heights in Queens, New York City. The Residences at Jackson Heights are made up of two cooperatives, Birchwood House and Sheila Terrace. The units are being redesigned by Lawrence M. Shapiro and Freyer Collaborative Architects. Studios, one- and two-bedroom units will range in size from 540 square feet to more than 1,100 square feet. Prices range from $170,000 to more than $350,000.

MARCUS & MILLICHAP SELLS MULTIPLE APARTMENTS
PHILADELPHIA, MORTON, PA., AND MAPLE SHADE, N.J. — Matthew Pauls and Fred Paisley of Marcus & Millichap’s Philadelphia office have completed the $2.15 million sale of Jendora Apartments in Philadelphia. Paisley represented the undisclosed seller and Pauls procured the undisclosed buyer.
In Maple Shade, Casey Hansen, also of Marcus & Millichap’s Philadelphia office, has brokered the sale of Southern Cross Apartments. The 22-unit apartment facility was sold for $1.35 million. Hansen procured the undisclosed buyer and represented the undisclosed seller in the transaction.
Ken Waller, also of Marcus & Millichap’s Philadelphia office, has completed the $704,000 sale of Hidden View Apartments in Morton. The 13-unit apartment is located at 214 Main St. Waller procured the undisclosed buyer and represented the undisclosed seller in the sale.

WEST

TRIDENT INDUSTRIAL PARK TRADES HANDS FOR $16.2 MILLION
LAS VEGAS — Portland, Ore.-based HIC Trident LLC has acquired Trident Industrial Park, a four-building industrial campus located at 2915 Losee Rd. in Las Vegas, for $16.2 million. Built in 2001, the 130,000-square-foot park offers 15 percent office space and 85 percent warehouse space. At the time of acquisition, the property was fully occupied. Al Barbagallo of Grubb & Ellis|Las Vegas represented the seller, Trident Industrial Park LLC, in the transaction.

CAPMARK FINANCE ORIGINATES $84 MILLION ACQUISITION LOAN FOR SUNRISE MALL
CITRUS HEIGHTS, CALIF. — Capmark Finance Inc. has originated an $84 million loan for Steadfast Commercial Properties for the acquisition of Sunrise Mall. Major tenants of the retail property include Macy’s, JC Penney and Sears. John Fett of Capmark Finance’s Roseville, Calif., office secured the fixed-rate loan, which was provided by AXA Equitable.

BASIN STREET PARTNERS ACQUIRES OFFICE TOWER, TWO HOTEL PROPERTIES
RENO, NEV. — Petaluma, Calif.-based Basin Street Partners has acquired Waterfront Plaza, a 145,000-square-foot office tower located at 300 E. Second St., and two adjacent hotel properties, which are located at the intersection of East Second and Nevin streets in Reno. The company has a $6 million capital improvement renovation planned to convert the Waterfront Plaza into a Class A office building. Additionally, Basin Street Partners is developing Hyatt Summerfield Suites on the hotel properties. The new six-story hotel will offer 148 rooms. TRT Investments sold Waterfront Plaza for an undisclosed price. Basin Street Partners purchased the hotel properties from the City of Reno and a private investor.

Tejon Ranch Company and Rockefeller Group Development Corp. has developed a 606,000-square-foot warehouse facility at Tejon Industrial Complex, a 3.1 million-square-foot industrial park in Tejon Ranch, Calif.

606,000-SQUARE-FOOT WAREHOUSE FACILITY OPENS AT TEJON INDUSTRIAL COMPLEX
TEJON RANCH, CALIF. — A joint venture between Tejon Ranch Company and Rockefeller Group Development Corp. has developed a 606,000-square-foot warehouse facility at its Tejon Industrial Complex, a 1,450-acre master-planned commercial development located at the junction of Interstate 5 and Highway 99 in Tejon Ranch. Part of the 3.1 million-square-foot complex, the new building is designed for single- or multiple-tenant use. Irvine, Calif.-based HPA designed the new building, which was constructed by Fullmer. Additionally, the U.S. Department of Commerce has officially recognized the expansion of Foreign Trade Zone #202 to now include an initial 177 acres at Tejon Industrial Complex.

THREE-BUILDING MEDICAL OFFICE PROPERTY SELLS FOR $16 MILLION
SAN PEDRO, CALIF. — KF Properties has purchased a medical office complex, which is located at 1360 W. 16th St. in San Pedro, from G&L Realty for $16 million. In addition to the 63,000-square-foot, three-building property, the sale included 2 acres of developable land and a 383-space parking lot. Built in 1962, the buildings were 100 percent leased at the time of acquisition. Mike Meisenbach of Lee & Associates represented the buyer in the transaction.

	MIDWEST
	WRIGHTWOOD CAPITAL ACQUIRES 121,000-SQUARE-FOOT INDUSTRIAL BUILDING AURORA, ILL. — Chicago-based Wrightwood Capital has acquired a 121,000-square-foot industrial facility, located at 2300 Raddant Rd. in Aurora, in a sale/leaseback transaction. The building features 25-foot clear ceiling heights, eight interior truck docks and 6,000 square feet of office space. The property was sold by Cano Container Corp., which occupies the building along with Packaging Dimensions and United Express System. Frank Griffin and Dominic Carbonari of Grubb & Ellis represented Cano in the sale. The property was the 16th acquisition for Wrightwood Capital’s Industrial Property Fund III. The purchase price was undisclosed. THE MUMFORD COMPANY ARRANGES SALE OF 138-UNIT DAYS INN INDIANAPOLIS — The Mumford Company has arranged the sale of the 138-unit Days Inn of Indianapolis located in Indianapolis. Steve Kirby of Mumford’s Atlanta office and Lance Potter of the firm’s Chicago office represented the seller, Bowling Green, Ky.-based Westloop hotels. The property was acquired for an undisclosed price from a California-based buyer that will relocate to Indianapolis to manage and operate the hotel. The property will remain a Days Inn. MATANKY REALTY GROUP BROKERS TWO RETAIL SALES CHICAGO — Matanky Realty Group has brokered the sale of two Chicago retail properties. Terri Cox and Anita Kedia of Matanky represented the undisclosed seller of Dearborn Grocer, a 27,400-square-foot grocery store located at 2274 N. Milwaukee Ave. The sale price was not disclosed, but the property listed for $3.25 million. Cox, along with James Matanky, also represented the seller in the disposition of Dearborn Wholesale Grocers, an 11,070-square-foot retail center located at 2019 W. Howard St. The asking price for the property was $1.7 million. The parties involved in both transactions were not disclosed. POTOMAC REALTY CAPITAL SECURES $9.4 MILLION STUDENT HOUSING LOAN MOUNT PLEASANT, MICH. — Potomac Realty Capital has secured a $9.4 million bridge loan for the acquisition of a student housing community located in Mount Pleasant. The property is located near the campus of Central Michigan University. The undisclosed borrower plans to implement a $2.5 million capital improvements program for the community. The terms of the loan were undisclosed.

	SOUTHEAST
	MEDICAL PROPERTIES TRUST SELLS THREE REHABILITATION FACILITIES BOWLING GREEN, KY. — Birmingham, Ala.-based Medical Properties Trust has entered into a definitive agreement to sell the real estate assets of three inpatient rehabilitation facilities to Vibra Healthcare, for $90 million. The properties are currently operated by Vibra, and are located in Bowling Green, Marlton, N.J., and Fresno, Calif. Medical Properties Trust expects to acquire at least $200 million in hospital real estate assets this year. MARYLAND MULTIFAMILY COMPLEX CHANGES HANDS FORESTVILLE, MD. — A subsidiary of FCP Fund I, has purchased Park Berkshire Apartments, a 598-unit garden-style apartment community in Forestville, for an undisclosed amount. The property consists of 22 three-story buildings situated on 21 acres. The complex is in close proximity to Washington Capitol Beltway and the Suitland Metro Station. Plans for a $14 million renovation are underway. REM MANAGEMENT ACQUIRES FLORIDA OFFICE BUILDING BOCA RATON, FLA. — REM Management has acquired 7800 Congress Centre, a 40,720-square-foot, Class A office building in Boca Raton, from 7800 Congress LC, for $8.5 million. The property is 61 percent occupied by URS Corp. Scott O’Donnell and Dominic Montazemi of CB Richard Ellis’ Boca Raton office were the sole brokers and exclusively represented the seller. CAMDEN RENAISSANCE UNDERGOES $7.5 MILLION RENOVATION ALTAMONTE SPRINGS, FLA. — Camden Renaissance, a 578-unit, 23-building multifamily complex in Alamonte Springs, is undergoing a $7.6 million renovation. Construction began in February and is projected for completion summer 2009. Orlando-based Leffler & Heaney is the general contractor.

	TEXAS
	HENRY S. MILLER FINALIZES SALE OF 77,402-SQUARE-FOOT SHOPPING CENTER BOERNE, TEXAS — Dallas-based Henry S. Miller Commercial has brokered the sale of Hill Country Square, a retail center located at 1361 Main St. in Boerne. A San Antonio pension fund purchased the property from an undisclosed seller. The sale price for the 77,402-square-foot shopping center also was undisclosed. Henry S. Miller IV of Henry S. Miller Commercial represented both parties in the transaction. HFF COMPLETES SALE OF SIX-STORY OFFICE BUILDING HOUSTON — Holliday Fenoglio Fowler’s (HFF) Houston office has closed the sale of a six-story office building located at 12605 East Fwy. in Houston. Rockwell Management Corp. purchased the 85,506-square-foot office property, which is built on 2.6 acres, from Bayview USA Holdings for an undisclosed amount. The property was 82 percent leased at the time of sale to Bank of America, The State of Texas and Jim Adler P.C. Dan Miller and Marty Hogan of HFF’s Houston office represented the seller in the transaction, and Matthew Kafka of HFF’s Houston office secured acquisition financing for the borrower. UCR BROKERS 47,000-SQUARE-FOOT SALE FOR AUTOZONE DALLAS — United Commercial Realty (UCR) has completed the sale of a retail space located at Illinois Ave. west of Westmoreland in Dallas. AutoZone Inc. purchased the property from JNR Investments for an undisclosed amount. The 47,000-square-foot site will house a new AutoZone retail store.W. Thurston Witt Jr. of UCR represented AutoZone Inc. in the transaction, and David English of Colliers International represented JNR Investments. DYNACORP INTERNATIONAL LEASES OFFICE SPACE AT HERITAGE COMMONS II FORT WORTH, TEXAS — Fort Worth-based developer Hillwood has leased 75,344 square feet at Heritage Commons II in Fort Worth to DynCorp International. The 114,710-square-foot office building, which is located at 13601 North Fwy. at the northwest corner of the Interstate 35W and Legacy Crossing, is located in the AllianceTexas development. The space will house corporate offices for DynCorp International, which is consolidating three of its facilities from the Freeport/Las Colinas area. The company will have 350 employees at the new space upon move-in, which is scheduled for July. Ted St. Clair Jr. and Richard D. Minker of Richard D. Minker Co. represented DynCorp International in the transaction, while Hillwood represented itself.