COLUMBUS, OHIO — Marcus & Millichap has brokered the sale of a 3,480-square-foot property net leased to Sherwin-Williams in Columbus for $1.9 million. Built in 2016, the property is located at 634 S. High St. Dan Yozwiak of Marcus & Millichap marketed the building for sale on behalf of the seller, a limited liability company. Yozwiak also represented the buyer, a limited liability company.
ST. AUGUSTA, MINN. — KW Commercial has arranged the sale of Delux Retail Center, a 15,310-square-foot retail center in St. Augusta near St. Cloud. Snap Fitness and Delux Liquor anchor the property, which is located at 24086 State Highway 15. Matthew Klein and Anthony Passanante of KW Commercial/AMK Properties represented the buyer, MSK Realty LLC, which purchased the asset for $975,000. Steve Feneis and Maria Berdan of Granite City Real Estate represented the undisclosed seller.
FRISCO, TEXAS — General contractor Brasfield & Gorrie has been selected to build a new 500-room Omni Hotel & Resort at the future site of the PGA of America’s headquarters in Frisco. The property will include a retail village, golf villas, a clubhouse and a variety of outdoor amenities. The PGA is relocating from South Florida to a 600-acre development that is slated for completion in 2022.
HOUSTON — Finial Investments has acquired a 23,750-square-foot industrial building located at 203 Blue Bell Road in Houston. The property was fully leased at the time of sale to ACE Steel Supply. Doc Perrier of Finial Group represented the buyer in the transaction on an internal basis. The seller was not disclosed.
TAMPA, FLA. — RealOp Investments has sold Bay West Commerce Park, an eight-building, 195,558-square-foot office campus in Tampa’s Westshore submarket, for $26.7 million. RealOp acquired the property in 2017 and invested $1.5 million in renovations during its ownership. The campus, located six miles west of downtown Tampa, was 86 percent leased at the time of sale. Dale Peterson of CBRE represented the seller in the transaction. The buyer was not disclosed.
JACKSONVILLE, FLA. — Stag Industrial has acquired a 232,488-square-foot warehouse and distribution facility in Jacksonville’s Westside submarket for $14.8 million. The seller, Johnson Development Associates Inc., built the property on a speculative basis. Boston-based Stag Industrial will name the property STAG Westlake. The 32-foot clear height warehouse features 42 truck doors, two drive-in doors, 159 regular parking spots and a large truck court. The property is located at 9779 Pritchard Road, 16 miles southwest of Jacksonville International Airport and 12 miles west of downtown Jacksonville. Tyler Newman and Jacob Horsley of Cushman & Wakefield represented the buyer in the transaction. The team will also oversee leasing of the facility.
WORCESTER, MASS. — Kelleher & Sadowsky Associates Inc. has brokered the sale of Worcester Plaza Tower, a 244,000-square-foot office tower in central Massachusetts. The sales price was $16.5 million. The 24-story tower is the tallest office building in Worcester. Kelleher & Sadowsky represented the seller, S-BNK Worcester Main, an entity registered to the Casey Brothers Trust of Boston. The firm also procured the buyer, Synergy Investments, which plans to make capital improvements to the property.
NEW YORK CITY — SL Green Realty Corp., a publicly traded office investment firm, has acquired 603 West 50th Street, a 160,000-square-foot office building in Manhattan. KCP Holdco Inc., an affiliate of the seller that currently occupies the property, will lease approximately 40,000-square-feet of office space to serve as its headquarters. SL Green will undertake a full-building repositioning to elevate the profile of this asset, which was originally built in 1940. Woody Heller and David Heller of Savills Studley represented the undisclosed seller in the transaction.
BOSTON — Alduwaliya, a Qatar-based investment firm, has purchased 99 Chauncy Street and 101 Summer Street, two office buildings totaling 159,781 square feet in Boston’s Financial District. Both properties include ground-floor retail space and were fully leased at the time of sale to tenants with an average weighted lease term of 7.2 years. Scott Dragos, Doug Jacoby, Chris Skeffington, Roy Sandeman, Anthony Hayes, Timothy Mulhall and Daniel Hines of CBRE represented the seller, Nuveen Real Estate, in the transaction. The price was not disclosed.
SAN BERNARDINO, CALIF. — A joint venture between Harbor Associates and Taconic Capital Advisors has acquired a five-building office portfolio located within the 153-acre Tri City Corporate Center office park in San Bernardino. An undisclosed seller sold the assets for $41.7 million in an off-market transaction. Totaling 368,000 square feet, the buildings range from 70,000 square feet to 115,000 square feet. The portfolio, which is collectively 55 percent leased to 28 tenants, represents the only block of contiguous office space of more than 75,000 square feet in the Inland Empire. The joint venture plans to re-position and lease-up the assets through a renovation program across the portfolio that includes upgraded building entries and lobby experiences, elevator improvements, new roofs and replacement of the original HVAC units. Upon completion, the portfolio will feature rent-ready speculative suites, electric vehicle charging stations, LED lighting retrofit, as well as new building and project signage. Anthony Delorenzo, Todd Tydlaska and Sammy Cemo of CBRE represented the seller in the deal. The acquisition was leveraged with short-term financing from a subsidiary of Granite Point Mortgage Trust, which is externally managed by Pine River Capital Management.