NEW YORK CITY — Locally based investment and development firm SL Green Realty Corp. (NYSE: SLG) has sold 1080 Amsterdam Avenue, a 96-unit apartment building on Manhattan’s Upper West Side, for $42.5 million. The elevator building is located just south of Columbia University’s campus and includes two commercial spaces. Marc Sznajderman, Andrew Sasson, Chad Sinsheimer and Justin Bomba of Ackman-Ziff Real Estate Group represented SL Green, which recently renovated the property and sold it in a joint venture with Stonehenge, in the transaction.
NEW YORK CITY — Locally based brokerage firm Rosewood Realty Group has arranged the $14.8 million sale of an 83-unit multifamily property located at 4755 White Plains Road in The Bronx. Built in 1939, the property includes five retail spaces and 11 parking spaces. Aaron Jungreis, Ben Khakshoor and Alex Fuchs of Rosewood Realty represented the seller, a private investor, and procured the buyer, an entity doing business as 4755WP LLC.
WHEELING, ILL. — Lee & Associates has negotiated the sale of a nearly four-acre site at 231 Wheeling Road in Wheeling, a northwest suburb of Chicago. The sales price was undisclosed. The buyer, General Capital, plans to build Union Apartments, a four-story multifamily property. Rick Scardino of Lee & Associates represented the seller, Palumbo Bros. David Erickson of CBRE represented the buyer.
BELMONT, CALIF. — Westlake Group has completed the disposition of Shoreway Innovation Center, an office building located at 1301 Shoreway Road in Belmont. Four Corners Properties acquired the asset for $90.2 million. The four-story Shoreway Innovation Center features 150,000 square feet of Class A office space. At the time of sale, the property was 82 percent leased to a mix of tenants with less than three years of average remaining lease term. The property also includes seven acres along US-101 in Belmont. Mike Taquino, Kyle Kovac, Joe Moriarty and Scott Prosser of CBRE Capital Markets in Northern California represented the seller in the transaction.
VISTA, CALIF. — Black Lion Investment Group has completed the sale of the fifth and final parcel of Vista Terrace Marketplace, a retail property in Vista. Crow Holdings acquired the two-acre parcel, which features 28,440 square feet of retail space, for $13.3 million. Vista Terrace Marketplace is currently more than 90 percent occupied by a variety of tenants, including Jersey Mike’s Subs, Pacific Dental, Sports Clips and Discovery Preschool. Gleb Lvovich and Daniel Tyner of JLL’s Capital Markets team handled the transaction.
PHOENIX — Next Gen 101, an entity of Helix Properties, has completed the disposition of West 101 Corporate Center, an office asset in Phoenix’s West Valley submarket. Nevada-based Overstreet Project LLC acquired the property for $17.5 million. Located at 1860 N. 95th Lane, the three-story asset features 81,040 square feet of Class A office space. At the time of sale, the building was 93 percent leased to a variety of tenants. The property was built in 2008. Eric Wichterman and Mike Coover of Cushman & Wakefield represented the seller in the deal.
PHOENIX — JLL Capital Markets has brokered the sale of Block 23 in downtown Phoenix for $150 million. Completed in 2019, the property consists of 307,030 square feet of Class A office, retail and amenity space. Located at 101 E. Washington St., Block 23 is 95 percent occupied by tenants such as Western Alliance Bank, EY and Chase. The asset is immediately adjacent to CityScape Phoenix, a new 1.2 million-square-foot mixed-use property, and is directly across from Footprint Center where the Phoenix Suns of the National Basketball Association (NBA) play. Block 23 is home to Fry’s Fresh Marketplace, as well as restaurant concepts Blanco Tacos & Tequila and Ingo’s Tasty Food. Amenities at the property include a pickleball court, sky lobby, rooftop amenity deck and onsite parking. Ben Geelan and Kevin MacKenzie of JLL represented the seller, an affiliate of RED Development, and procured the buyer, City Office REIT Inc. (NYSE: CIO). The sales price of $488.55 per square foot sets a new per-square-foot record in the city for multi-tenant office trades, according to JLL. “Block 23 has a superior long-term core location in downtown Phoenix, which has seen more than $6 billion of investment into the immediate area since …
ST. CHARLES, ILL. — Colliers Chicago has arranged the sale of 1st Street Development, a mixed-use development in the heart of St. Charles, about 40 miles west of Chicago. The sales price was undisclosed. The five-building asset consists of retail, office and residential space. The properties include: The Plaza, a two-story retail and office building; Ale Building, a four-story office and retail asset; River Loft, a five-story office, retail and condo property; Sterling Building, a five-story office and condo building; and Building 7A, a three-story retail and residential asset. Notable tenants include Kilwin’s, Gia Mia, Alter Brewing, XSport Fitness, Coldwell Banker, Ohio Farmers Insurance and Regus. The property is 97 percent leased. Peter Block, Tyler Hague and Lauren Stoliar of Colliers represented the seller, First Street Development LLC. Tabani Group LLC was the buyer.
HOFFMAN ESTATES, ILL. — Marcus & Millichap has brokered the sale of a 61,047-square-foot retail property net leased to grocer Valli Produce in Hoffman Estates for $8 million. The building is located about 30 miles northwest of Chicago at 850 N. Roselle Road. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a local private investor. The Florida-based buyer completed a 1031 exchange. Brian Stulak of Marcus & Millichap Capital Corp. arranged acquisition financing on behalf of the buyer. Valli Produce recently signed a 10-year lease to remain at the property through 2031.
CHAMPAIGN, ILL. — Quantum Real Estate Advisors Inc. has negotiated the sale of a 24,454-square-foot retail center in Champaign for $4.3 million. Located at 2012-2032 N. Prospect Ave., the property is home to David’s Bridal, America’s Best Eyewear, Little Caesar’s Pizza, Sally Beauty and a few local tenants. Chad Firsel and Jason Lenhoff of Quantum represented the seller, Chicago-based Core Acquisitions LLC. A Milwaukee-based private real estate investor was the buyer.