LOWELL, MASS. — Boutique brokerage firm Peak Real Estate Partners has negotiated the sale of a 62,000-square-foot office and lab building located at 75 Technology Drive in the northern Boston suburb of Lowell. Jumbo Capital sold the property to Boston-based Rhino Capital Advisors for an undisclosed price. Anthony Biette of Peak Real Estate brokered the deal on behalf of both parties. Northmarq arranged acquisition financing through Cambridge Savings Bank. The building was fully leased at the time of sale.
BURLINGTON, MASS. — SRS Real Estate Advisors has arranged the $7.2 million sale of an 8,815-square-foot retail property in the northern Boston suburb of Burlington. The property was built in 2016 and was fully leased at the time of sale to tenants such as Starbucks and Sherwin-Williams. Matthew Mousavi and Patrick Luther of SRS represented the seller, a private regional developer, in the transaction. Susan Harris, also with SRS, represented the buyer, an East Coast-based private partnership. Both parties requested anonymity.
MIAMI — Boston-based Rockpoint and Montreal-based Ivanhoe Cambridge have sold Mary Brickell Village, a Publix-anchored mixed-use property in Miami’s Brickell district. RPT Realty purchased the 200,503-square-foot development for $216 million. Danny Finkle, Chris Angelone, Matthew Lawton, Eric Williams and Kim Flores of JLL represented the sellers in the transaction. Situated on 5.2 acres at 901 S. Miami Ave., Mary Brickell Village’s tenant roster includes Miami’s only LA Fitness Signature Club, as well as Moxie’s, North Italia, P.F. Chang’s, Shake Shack, Blue Martini, Starbucks, Massage Envy, Candela Gastro Bar and EWM Realty. The mixed-use property also includes an 875-space parking garage. Originally constructed in 2008, Mary Brickell Village underwent renovations between 2018 and 2020.
LAUREL, MD. — Syndicated Equities, a private real estate investment firm based in Chicago, has sold the Johns Hopkins University Applied Physics Laboratory in Laurel. An unnamed, Florida-based investor purchased the building for $53 million in a 1031 exchange. The property is situated within Montpelier Research Park near Johns Hopkins University’s Laurel campus. Syndicated Equities purchased the property in January 2011 in a joint venture with Middleton Partners, which is also based in Chicago. During its ownership, Syndicated Equities executed two long-term leases and made significant improvements to the asset, including installing new roofs.
PLANTATION, FLA. — SRS Real Estate Partners has brokered the $7.4 million sale of Bank of America Plaza, a 13,000-square-foot retail building located at 7001 W. Broward Blvd. in Plantation. Situated in South Florida’s Broward County, the property was built in 2004 and leased to Bank of America. Brandon Woulfe of SRS represented the seller, an entity doing business as 7001 Plantation 2009 LP, in the off-market transaction. Don Ginsburg of Katalyst Real Estate represented the buyer, Barron Real Estate.
DENVER — Menashe Properties has acquired Stanford Place III, a Class A office building situated on 6.5 acres in Denver. Angelo Gordon Cos. sold the property for an undisclosed price. Totaling 370,000 square feet, the property offers 22,000-square-foot floor plates and a renovated main lobby, common area corridors and restrooms. The building also features a renovated Starbucks Café and deli, a tenant lounge, fitness center, secure bike storage and conference facility. There is also ample surface parking, covered parking and close proximity to interstates 25 and 225 and the Belleview light rail station. Robert Whittelsey and Abby Pattillo of Colliers brokered the transaction.
COMMERCE, CARDIFF AND SANTEE, CALIF. — Calbay Development has purchased three value-add retail properties in California for a total of $8.5 million. In the first transaction, Calbay acquired a site in Commerce in a short-term, off-market, sale-leaseback transaction for $2.5 million. Calbay plans to construct a new Starbucks drive-thru café on the site in 2023. The second property is a corporate-owned Jack in the Box drive-thru in Cardiff, which Calbay acquired for $2.5 million. Reg Kobzi, Michael Peterson, Natasha Edwards and Brianna Bowers of CBRE and Mike Clark of Main & Main brokered the transaction. The property was sold as a short-term sale-leaseback with Jack in the Box corporate. Calbay plans to redevelop the property into a new restaurant in 2023. In the third transaction, Calbay acquired a value-add strip center, with option to purchase a corner lot of excess land, located on a signalized intersection in Santee for $3.5 million. The site benefits from upside due to short-term leases, strong traffic, major adjacent retailers and on/off access to the freeway. Greg Spounias of Highland Partners Corp. brokered the transaction. Calbay secured financing through MidFirst Bank for all three sites and intends to redevelop each property with national brand retailers …
AUSTIN, TEXAS — JLL has negotiated the sale of Woodland Self Storage, a 952-unit facility located south of downtown Austin along I-35. The 92,288-square-foot, climate-controlled facility was built in 2019 and was 70 percent occupied at the time of sale. Steve Mellon, Brian Somoza, Adam Roossien and Matthew Wheeler of JLL represented the seller, Austin-based Endeavor Real Estate Group, in the transaction. Utah-based REIT Extra Space Storage purchased the asset for an undisclosed price.
SEATTLE — Auctus Capital Partners has completed the sale of Etta Ballard, a mid-rise apartment building in Seattle’s Ballard neighborhood. Thayer Manca Residential acquired the asset for an undisclosed price. Built in 1989, Etta Ballard features 80 apartments. The property was converted from senior independent living facility to market-rate apartments in 2017. Jerrid Anderson, Brandon Lawler and Dylan Simon of Kidder Mathews represented the seller in the deal.
LITTLETON, COLO. — NavPoint Real Estate Group has brokered the sale of a light industrial property located at 8101 Midway Drive in Littleton. DCP Midway LLC acquired the building from Pavco Group for $6.9 million. The fully climate-controlled, 48,820-square-foot property features outside storage and oversized drive-in doors. Jeff Brandon and Matt Call of NavPoint Real Estate Group represented the buyer, while Tyler Carner of CBRE represented the seller in the deal.