FLORHAM PARK, N.J. — CBRE has negotiated the $24.5 million sale of a two-building, 132,737-square-foot office complex in the Northern New Jersey community of Florham Park. Jeffrey Dunne, Jeremy Neuer, Steve Bardsley, David Gavin, Fahri Ozturk, Rich Gatto, Travis Langer and Daniel Blumenkrantz of CBRE represented the seller, The Silverman Group, in the transaction. The team also procured the undisclosed buyer. The complex was fully leased at the time of sale.
CHICAGO — Stan Johnson Co. has brokered the sale of an 83,652-square-foot retail building in Chicago for $13.7 million. Located along North Cicero Avenue, the property is leased to Ross Dress for Less and its affiliate brand, dd’s Discounts. Both retailers operate under a single master lease. Mike Sladich of Stan Johnson represented the seller, an Illinois-based institutional investor. A California-based REIT acquired the asset.
MIDLAND PARK, N.J. — Cushman & Wakefield has brokered the $11 million sale of two industrial buildings totaling 38,500 square feet in the Northern New Jersey community of Midland Park. The properties sit on a combined 3.8 acres and were recently upgraded. Gary Gabriel, Kyle Schmidt and Seth Zuidema represented the seller, VanRock Properties, in the transaction and procured the buyer, Bassen Properties.
CHICAGO — Greenstone Partners has negotiated the sales of three properties in Chicago’s Wicker Park neighborhood for roughly $7.8 million. Brewster Hague of Greenstone represented the sellers in each transaction and procured the buyers. In the first transaction, a 5,000-square-foot retail condo at 1725 W. Division St. sold for $2.3 million. A New York-based family office sold the asset to a Florida-based family office. Danny Spitz of Greenstone assisted in representing the seller. In the second sale, a seven-unit apartment and retail building at 1670 W. Division St. sold for $3.2 million. Bangers & Lace is the ground-floor retail tenant. In the last transaction, a six-unit apartment and retail property at 1920 W. Division St. sold for nearly $2.3 million. Milk & Honey Café occupies the ground-floor space. A California-based private individual from a Chicago-based family office purchased both 1670 W. Division St. and 1920 W. Division St.
HIGHLAND PARK, ILL. — Mid-America Real Estate Corp. has arranged the sale of The Shops on Elm Place in the Chicago suburb of Highland Park for an undisclosed price. The 35,672-square-foot retail center is 87 percent leased to tenants such as The BBQ Pit, Spiffy Entertainment, US Holocaust Memorial Museum, Bentley Safety Products, LifeStance and Dr. Gilbert Orthodontics. Joe Girardi and Emily Gadomski of Mid-America represented the seller, Northpond Partners. A private investor completing a 1031 exchange was the buyer.
MAMMOTH LAKES, CALIF. — Marcus & Millichap has arranged the sale of Mammoth Main Street Promenade, a retail center located in Mammoth Lakes. A private investor sold the asset to an undisclosed buyer for $8.8 million. At the time of sale, the 42,809-square-foot shopping center was 98 percent leased to 22 tenants, including Mammoth Laundry and Sun & Ski Sports. The property was built in 1988. Patrick Toomey, Jose Carrazana, Jessica Baram and Enrique Wong of Marcus & Millichap represented the seller in the deal.
PORTLAND, ORE. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Cornerstone Care Option, a 38-unit, 56-bed skilled nursing facility in Portland. The community was originally built in 1955 on 7.3 acres, with renovations in 2006. The 98,700-square-foot asset was 98 percent occupied. The seller was a local owner-operator looking to retire from seniors housing. A regional group based in the West acquired the property for an undisclosed price. Jason Punzel, Brad Goodsell and Vince Viverito of SLIB handled the transaction.
BALTIMORE — New York-based Link Logistics has completed the disposition of Beltway+ Industrial Portfolio, a six-property, 430,118-square-foot industrial portfolio located in the Mid-Atlantic region. Massachusetts-based High Street Logistics Properties acquired the portfolio for $67.5 million. Situated in the Baltimore-Washington Corridor, Beltway+ Industrial Portfolio was 92 percent leased at the time of sale to 26 tenants. The largest asset in the portfolio is a 114,980-square-foot, Class A property located at 6695 Business Parkway within Meadowridge Business Park in Elkridge, Md. The remaining properties are small-bay industrial assets with direct access to Interstate 695. Christopher Abramson, Ben McCarty and Nicholas Signor of Newmark represented the seller in the deal. Brian Kruger, Thomas Hinder and Erik Evans of Newmark will handle leasing of the property on behalf the new ownership.
WEST PALM BEACH, FLA. — Publix Super Market Inc. has purchased River Bridge Centre, a community shopping center situated on 28.4 acres at 6714-6868 Forest Hill Road in West Palm Beach. An affiliate of Apollo Global Management sold the asset to the Lakeland, Fla.-based grocer for $56.5 million. Danny Finkle, Eric Williams and Kim Flores of JLL represented the seller in the transaction. Opened in 1986 and renovated in 2005, River Bridge Centre features 229,781 square feet of retail space. Publix, Ross Dress for Less, Crunch Fitness, Five Below, Ace Hardware, Chipotle Mexican Grill, MD Now Urgent Care, Humana and Pizza Hut are tenants at the retail center. The value-add center was 86.3 percent occupied at the time of sale.
DULUTH, GA. — Skyline Seven Real Estate has arranged the sale of Howell Crossing, a metro Atlanta shopping center located at the intersection of Pleasant Hill Road and Peachtree Industrial Boulevard in Duluth. The property traded for $11 million. Planet Fitness and Taco Mac anchor the 68,682-square-foot property, which was built in 1996. Skyline Seven arranged the sale between two undisclosed private parties.