REBusinessOnline

Tag Archives

Gebroe-Hammer Facilitates $5.7M Sale of Apartment Community in Belmar, New Jersey

BELMAR, N.J. — Gebroe-Hammer Associates has arranged the sale of Silver Lake Garden Apartments, a multifamily community located at 104 Fifth Ave. in Belmar. A private investor acquired the property from Anza Inc., the original developer/owner, for $5.7 million, or $190,000 per unit. The 30-unit property features six two-bedroom and 24 one-bedroom units with updated kitchens and bathrooms. Adam Zweibel of Gebroe-Hammer represented the seller and procured the buyer in the deal.

October 20, 2017

Brennan Completes Sale-Leaseback of 86,460 SF Industrial Building in Oakdale, Minnesota

OAKDALE, MINN. — Brennan Investment Group LLC has acquired an 86,460-square-foot industrial building in Oakdale, a suburb of St. Paul. The purchase price was not disclosed. The seller, Total Logistics Inc., will lease back the space from Brennan. The property is located at 2900 Granada Lane North. The acquisition was funded through a net leased joint venture with one of Arch Street Capital Advisors’ institutional clients.

October 20, 2017

Marcus & Millichap Arranges $1M Sale of 3,160 SF Retail Property in Los Angeles

LOS ANGELES — Marcus & Millichap has brokered the sale of a retail property located at 4745 W. Washington Blvd. in Los Angeles. A private investor sold the property for $1 million. Floyd Shaheen of Marcus & Millichap represented the seller in the deal. The name of the buyer was not released.

October 20, 2017

Day Kimball Healthcare Sells Three-Building Medical Office Portfolio in Connecticut

PLAINFIELD AND DANIELSON, CONN. — A national healthcare real estate company has purchased a medical office portfolio occupied by Day Kimball Healthcare Inc. for an undisclosed price. The 45,000-square-foot portfolio includes three properties located in Plainfield and Danielson. Two of the properties were sold by Day Kimball Healthcare as part of a sale-leaseback transaction, while the third property was sold by an unaffiliated seller with Day Kimball Healthcare executing a long-term lease..

October 19, 2017

Brookwood Sells Four-Building Office Portfolio in Orlando for $16.7M

ORLANDO, FLA. — Brookwood Financial Partners LLC has sold Lakefront I & II, a four-building, 192,654-square-foot office complex in Orlando, for $16.7 million. Mark Busekus of HFF represented Brookwood in the transaction. The buyer was not disclosed. Brookwood originally acquired the asset in 2012 for $11.3 million and invested in capital improvements, including upgraded landscaping, enhanced exterior lighting, improved signage and construction of an additional surface lot. At the time of..

October 19, 2017

SJP Properties Sells Site for Hotel, Restaurant Development in Bridgewater, New Jersey

BRIDGEWATER, N.J. — SJP Properties has completed the disposition of a site within Somerset Corporate Center in Bridgewater for the development of a hotel and restaurant. AC Hotels by Marriott and Zinburger Wine & Burger Bar will occupy the space. Construction on the hotel and restaurant will commence this month and is expected to be completed by 2020. The AC Hotels by Marriott location will feature 150 guest rooms and a rooftop bar and lounge. The 5,800-square-foot Zinburger will offer a..

October 18, 2017

LM Commercial Brokers $2.2M Sale of Industrial Property in Cicero, Illinois

CICERO, ILL. — LM Commercial Real Estate has brokered the sale of an 86,670-square-foot industrial property in Cicero for $2.2 million. The property, which sits on 5.5 acres at 1410 S. 55th St., consists of two industrial buildings, six drive-in doors, three rail entry points, railcar storage capabilities and outside storage. Mike Merry and Brian Wabick of LM Commercial brokered the sale on behalf of the undisclosed seller. Peter Bourke and Vern Schultz of Colliers International represented..

October 18, 2017

Press/Cuozzo Negotiates $3.1M Sale of Two-Building Mixed-Use Portfolio in Hamden, Connecticut

HAMDEN, CONN. — Press/Cuozzo Commercial Services has arranged the sale of a two-building mixed-use portfolio located at 2340-2348 Whitney Ave. in Hamden. Town Hall Center LLC sold the portfolio to a private investor for $3.1 million. Totaling 23,320 square feet, the properties were 100 percent occupied at the time of sale. The properties feature a mix of retail and office tenants. Stephen Press of Press/Cuozzo Commercial Services represented the seller in the deal.

October 17, 2017

Marcus & Millichap Arranges $3.9M Sale of Retail Property in Dover, Massachusetts

DOVER, MASS. — Marcus & Millichap has brokered the sale of Dover Market Plaza, a retail property located at 14-16 Springdale Ave. in Dover. An undisclosed buyer acquired the property from a limited liability company for $3.9 million. Tenants at the 10,000-square-foot property include a liquor store, banking services and the Dover Market, a boutique supermarket and deli. Laurie Ann Drinkwater, Seth Richard, Andrew Gilbert and Casey Valente of Marcus & Millichap represented the seller in the..

October 17, 2017

CBRE Negotiates Sale of Nine Acres for QuikTrip Location in Fort Worth

FORT WORTH, TEXAS — CBRE has negotiated the sale of nine acres of land located at the corner of Interstate 30 and Westmoreland Road in Fort Worth. The tract will serve as the future site of a new QuikTrip location. The Tulsa, Okla.-based gas and convenience store chain purchased the land from Dallas County Hospital System for an undisclosed price. David Glasscock of CBRE represented the seller in the transaction.

October 17, 2017