MARIETTA, PA. — New Jersey-based Goldcrest Properties has acquired a 172-unit apartment complex in Marietta, located southeast of Harrisburg, for $39 million. The property was built in 2020 and offers a clubhouse, fitness center and onsite laundry facilities. Aaron Jungreis and Michelle Jungreis of New York-based Rosewood Realty Group represented Goldcrest Properties as well as the seller, Inch & Co., in the transaction.
WESTPORT, CONN. — CBRE has negotiated the sale of two medical office buildings and a boutique office building in Westport, located in the southern coastal part of the state, for a combined $19.4 million. Locally based investment firm HB Nitkin purchased the healthcare assets, which were 89 percent leased at the time of sale, while Greenhouse Offices purchased the third property. Jeffrey Dunne, Steven Bardsley, Jeremy Neuer, David Gavin, Richard Gatto, Fahri Ozturk and Travis Langer of CBRE represented the seller, Leifer Properties, in the deals. CBRE also procured the buyer in the first transaction.
PLAINFIELD, N.J. — Locally based brokerage firm The Kislak Co. Inc. has arranged the sale of Stony Brook Gardens, a 70-unit multifamily property located in the Northern New Jersey community of Plainfield. The sales price equates to roughly $250,000 per unit. The two-story, garden-style property was built in 1961. Joni Sweetwood and Julie Gralla of Kislak represented the seller and the buyer, both of which requested anonymity, in the transaction.
NAPERVILLE, ILL. — Kiser Group has brokered the $6.8 million sale of The Washington in the Chicago suburb of Naperville. Located at 720 N. Washington St., the building includes eight luxury apartment units and 6,500 square feet of commercial space. The property was built in 2018. The commercial space is leased to Great Western Flooring and Gantos Dental Group. Ron Plonis of Kiser represented the undisclosed buyer. Brian Karmowski of Essex Realty Group Inc. represented the seller, a development group led by Joshua Voit.
FISHERS, IND. — Midland Atlantic Properties has arranged the $7.5 million sale of Fishers Corner shopping center in the Indianapolis suburb of Fishers. The 28,359-square-foot property was built in 2005 and was fully leased at the time of sale. Jacque Haynes of Midland Atlantic represented the seller, Sena Realty FC LLC. Johnny Vassallo managed the acquisition on behalf of the buyer, POG Kosmos Fishers LP. First Financial Bank provided acquisition financing.
CHARLOTTE, N.C. — PRP Real Estate Investment Management has acquired the global corporate headquarters of Honeywell International Inc. (NYSE: HON) in Charlotte for $275 million. Lincoln Harris and Goldman Sachs Asset Management were the sellers. The property, which opened earlier this month, is dubbed the smartest building in the world given the advanced Honeywell technology implemented in the design, according to PRP. Located at 855 S. Mint St. in Charlotte’s central business district, the headquarters spans 373,921 square feet and rises 23 stories. The building is adjacent to Bank of America Stadium, home of the National Football League’s Carolina Panthers. The property is part of Legacy Union, a 10-acre mixed-use project developed by Lincoln Harris and Goldman Sachs that comprises two city blocks on the former site of The Charlotte Observer. The building design showcases proprietary Honeywell technology, supported by a unit within the company that develops building management solutions, including energy conservation, enhanced security systems, surveillance, health monitoring, air quality measuring and network-based infrastructure. The property can house up to 1,300 Honeywell employees. The building includes ground-floor retail space, terraces on the 22nd and 23rd floors and a podium parking garage with 814 spaces. “Infill trophy office properties like …
EL MIRAGE, ARIZ. — Dermody Properties has purchased 961 acres of land in El Mirage, a suburb of Phoenix. The company plans to develop Copperwing Logistics Center, an industrial park with approximately 10 million square feet of speculative space over the next 10 years. Additionally, the company will develop approximately 300 acres for other third-party owners/users and build-to-suit customers. Initial development is slated to begin in 2022. Novo Development, which has been involved with the project since its inception, will continue to assist with the new venture. The land is being purchased from John F. Long Family Trust, known for developing more than 30,000 homes over four decades, including Arizona’s first master-planned community, before focusing efforts on retail and commercial projects in the West Valley Arizona market. Industrial zoning was already in place for the land. In addition, the property is within an approved Foreign Trade Zone (FTZ), meaning companies within the park that are active uses of FTZ can receive up to a 75 percent reduction in real estate and personal property taxes. Dermody Properties also intends to bring new water and sewer sources to the site along with new roads and park amenities. Pat Feeney, Rusty Kennedy and …
SAN FRANCISCO — A fund sponsored by CBRE Investment Management, formerly known as CBRE Global Investors, has acquired a majority stake in two life sciences portfolios in the Mission Bay submarket of San Francisco. The fund made the investment, which includes a total of 1 million square feet of Class A life sciences space, through a joint venture with a life science property developer/operator that developed the portfolios. The first portfolio, located at 409/499 Illinois St. and 1500 Owens St., includes three purpose-built life sciences facilities totaling 644,788 square feet. Situated on a 4.8-acre waterfront, the buildings feature 15-foot clear heights, an outdoor plaza with public art, two on-site restaurants, a rooftop deck, fitness center and an outdoor garden. The properties are LEED Gold and Silver certified. The second portfolio, located at 455 Mission Bay Blvd. South, 1450 Owens St. and 1700 Owens St., includes two existing buildings, which total 375,604 square feet, and a 212,796-square-fot purpose-built life sciences development that is scheduled for construction to start in first-quarter 2022. The properties are LEED Gold certified.
ORLANDO, FLA. — Cushman & Wakefield has arranged the $315 million sale of SouthPark Center, a 10-building suburban office park in Orlando totaling approximately 1.3 million square feet. PPF Real Estate, part of PPF Group, acquired the property. The property is located near John Young Parkway and Sand Lake Road. The property was sold for the highest amount ever for the office market in Orlando, according to the Orlando Business Journal. Mike Davis, Rick Colon, Rick Brugge, Dominic Montazemi, Zach Eicholtz, Brooke Tulley and Ryan Jenkins of Cushman & Wakefield represented the seller, Boston-based AEW Capital Management, in the sales transaction. Additionally, Brian Linnihan, Jason Hochman, Mike Ryan and Ron Granite of Cushman & Wakefield arranged $233 million in acquisition financing on behalf of PPF Real Estate.
KATY AND PEARLAND, TEXAS — CBRE has negotiated the sale of two multifamily properties totaling 602 units in the Houston area. Spencer Park Row is a 390-unit community located in the western suburb of Katy, and Tranquility Lakeside is a 212-unit complex located in the southern suburb of Pearland. The properties were respectively built in 2002 and 2004 and offer one-, two- and three-bedroom units. Clint Duncan and Matt Phillips of CBRE represented the undisclosed seller in the transaction. James D’Argenio and Chang Liu represented the buyer, California-based investment firm Bascom Group, on an internal basis. Michael Thompson and Travis Fincher of CBRE arranged acquisition financing through a fund backed by Oaktree Capital.