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Honolulu building sells for $29M; CNL Healthcare Properties II to buy Fla. asset


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Honolulu building sells for $29M; CNL Healthcare Properties II to buy Fla. asset

This feature rounds up recent commercial property news and highlights larger deal coverage already published.

* Kapiolani LLC purchased the 40,156-square-foot Shops at Kapiolani building at 1538 Kapiolani Blvd. in Honolulu for $29 million from Donna Walden and Giampaolo Boschetti, the Pacific Business News reported, citing property records.

* CNL Healthcare Properties II Inc. agreed to purchase a 92-unit seniors housing community in Riverview, Fla., for about $25.5 million from The Crossings At Riverview LLC and SSL Riverview LLC in a deal expected to close in the third quarter.

* The Allure Group Inc. acquired the Greater Harlem Nursing Home & Rehabilitation Center at 30 W. 138th St. in New York for $25 million, The Real Deal reported, citing property records.

* Stockbridge Capital Group LLC sold the 248,772-square-foot Tempe Distribution Center at 6718 S. Harl Ave. and 9230 S. Farmer Ave. in Tempe, Ariz., for $23.5 million to TA Realty LLC, the Phoenix Business Journal reported, citing property records.

* Scannell Properties sold the 335,400-square-foot Wilfred Distribution Center at 13201 Wilfred Lane in Rogers, Minn., to an undisclosed institutional investor for $20.4 million, the Minneapolis / St. Paul Business Journal reported.

* Preferred Apartment Communities Inc. acquired the 117,705-square-foot Conway Plaza shopping center in Orlando, Fla., from DDR Corp. for about $15 million, the Orlando Business Journal reported, citing Orange County records.

* American Landmark Apartments acquired the 330-unit, 95%-occupied Edinborough at the Park and the 312-unit, 94%-occupied Edinborough Commons apartment communities in Durham and Raleigh, N.C., respectively, for an undisclosed amount from Livcor. The properties will be renamed 200 East and The Mark, respectively, and will receive $4.5 million of improvements.

* LinkedIn Corp. signed a 7.5-year lease for the 30,165-square-foot 27th floor at Empire State Realty Trust Inc.'s The Empire State Building in New York, increasing its footprint in the building to 312,947 square feet, the New York Post reported.

* Franklin Street Properties Corp. leased about 82,000 square feet at its One Overton Park property at 3625 Cumberland Blvd. in Atlanta to several tenants, including 54,000 square feet to Carestream Dental LLC for 130 months; about 10,103 square feet to KPMG LLP for 67 months; and about 7,322 square feet to OneBeacon Services LLC through January 2024.

Additional news

MGM Growth Properties completes $1B deal for Ohio casino

CIM Group's Calif. portfolio could fetch over $1B

RREEF buys mixed-use apartment complex in Miami for $149M

Report: Brookfield Property in talks to buy Manhattan, NY, mixed-use towers

GEO Group to acquire land near California detention center