NEW YORK CITY — Full-service real estate firm Savills has acquired New York City-based project management firm Macro Consultants. The acquisition expands Savills’ existing advisory and management services platforms, which previously consisted of 50 professionals across the United States and Canada. At the time the deal closed, Macro Consultants, which was led by former managing principal Michael Glatt, employed more than 85 professionals across several major cities in the U.S., including New York City and Philadelphia. Along with those professionals, Glatt has joined Savills as vice chairman and North American head of project management. Additional terms of the deal were not disclosed.
MINNEAPOLIS — PCCP, in a joint venture with Capital Partners, has acquired a five-property industrial portfolio in metro Minneapolis for an undisclosed price. The light industrial portfolio spans 557,887 square feet and is currently 87 percent leased. The seller, Scannell Properties, developed three of the buildings within the last year. The specific locations of the properties were not disclosed, but they are situated in three different submarkets within the metro area.
SPARTA, N.J. — NAI James Hanson has negotiated the sale of 2 and 4 Aaron Way, two adjacent industrial development sites totaling 31.5 acres in Sparta, located approximately 60 miles northwest of New York City. The buyer, a Morris County-based developer, plans to construct a 30,000-square-foot speculative warehouse on the property. The sites are located within White Lake Commerce Park, which consists of 12 lots that are all expected to be sold by late March. Several different developers plan to construct speculative industrial buildings ranging in size from 10,000 to 30,000 square feet on the lots. John Schilp of NAI Hanson represented the seller, Berardi Developers, in the transaction. The sales price was undisclosed.
LINCOLN, NEB. — Hanley Investment Group Real Estate Advisors has arranged the sale of Edgewood Shopping Center in Lincoln for an undisclosed price. Built in 1991, the 174,000-square-foot shopping center sits on 22 acres. At the time of sale, the center was 95 percent occupied to tenants such as Super Saver Foods, CVS, Dollar Tree, AutoZone, Herbalife, Party America, Petco, Cartridge World, H&R Block and Papa John’s. Hanley Investment Group represented the seller, Perkins Properties. Scott Taubin of The R.H. Johnson Co. represented the buyer, a Kansas City-based private investor.
CHICAGO — SVN Chicago Commercial has brokered the $2 million sale of a 44,500-square-foot industrial property located at 4417 S. Springfield Ave. in Chicago’s Archer Heights neighborhood. Beverly Hayes and John McDermott of SVN represented the undisclosed seller. A Chicago-based company purchased the asset due to its location and loading capacity, according to Hayes.
BARRINGTON, ILL. — Avalon Equities has purchased Barrington Station, a 5,780-square-foot retail building in Barrington, a northwest suburb of Chicago. The purchase price was undisclosed. Tenants at the property include Starbucks, Verizon, Briddick Tile & Stone and Skinovatio Medical Spa. CBRE represented the seller, GK Development.
LAS VEGAS — 3D Investments has completed the disposition of Las Brisas De Cheyenne, a multifamily property located in Las Vegas. Epic Investment Services acquired the asset for $22 million, or $125,000 per unit. Located at 3985 E. Cheyenne Ave., Las Brisas De Cheyenne features 176 apartments. Patrick Sauter, Art Carll-Tangora and Steve Nosrat of the Sauter Multifamily Group at Avison Young represented the seller in the transaction.
RANCHO DOMINGUEZ, CALIF. — Terreno Realty Corp. has acquired an industrial property located in Rancho Dominguez for $18 million. The name of the seller was not released. Situated on 3.7 acres at 2310 E. Gladwick St., the 66,000-square-foot industrial distribution facility features 13 dock-high and two grade-level loading positions and parking for 81 cars. At the time of sale, the asset was fully leased to one tenant.
TUCSON, ARIZ. — Cushman & Wakefield has brokered the sale of a multi-tenant retail building situated within Santa Cruz Plaza at 3782 S. 16th Ave. in Tucson. Carlsbad, Calif.-based Blue Hat LLC acquired the asset from Los Angeles-based Santa Cruz Center LLC for $2.5 million. The 7,200-square-foot building is an outparcel to Santa Cruz Plaza, a 271,600-square-foot shopping center anchored by Fry’s Grocery. At the time of sale, the property was fully leased to four tenants: Subway, Cricket Wireless, Nationwide Vision and Affordable Dentures & Implants. Chris Hollenbeck and Shane Carter of Cushman & Wakefield’s Phoenix office represented the seller in the deal.
FARMINGTON HILLS, MICH. — L. Mason Capitani CORFAC International has arranged the sale of a 128,829-square-foot office building in Farmington Hills for an undisclosed price. Built in 2001, the Class A property is located at 37101 Corporate Drive. It is fully leased to Panasonic Automotive Systems. Mason L. Capitani represented the buyer, LREH Michigan LLC. The seller was undisclosed. Capitani’s affiliate company, Liberty Property & Asset Management, will manage the asset.