Acquisitions

NKF Negotiates Sale of 59,206 SF Manufacturing Facility in Elk Grove Village, Illinois

by Kristin Harlow January 31, 2019

ELK GROVE VILLAGE, ILL. — Newmark Knight Frank (NKF) has negotiated the sale of a 59,206-square-foot manufacturing facility located at 801 Estes Ave. in Elk Grove Village. The sales price was not disclosed. Located on three acres, the property features three interior docks, three drive-in doors, 47 car parking spaces and a clear height of 18 feet. Adam Marshall, Tatsuru Kono and Mark Deady of NKF represented the seller, Tigerflex Corp. Cory Ramey and Shamus Coneely of John Greene Industrial represented the buyer, Diesel Radiator Co.

January 31, 2019

Acquisitions Northeast Office Pennsylvania

CBRE Brokers $8M Sale of Office Campus in Harrisburg, Pennsylvania

by David Cohen January 30, 2019

HARRISBURG, PA. — CBRE has brokered the $8 million sale of a two-building, 50-acre office campus in Harrisburg. Located at 100 and 200 Amp Drive, the 250,000-square-foot property includes a full-service cafeteria and electric car charging stations. 100 Amp Drive totals 170,000 square feet while 200 Amp Drive totals 80,000 square feet. Michael Curran, William Krisztal and Nicholas Westley of CBRE’s Los Angeles South Bay office represented the seller, TE Connectivity Corp., in the transaction. Garrett Rothman of RSR Realtors represented the buyer, D&H Distributing Co., which will relocate its headquarters to the property.

January 30, 2019

Acquisitions Industrial New Jersey Northeast

NAI Hanson Negotiates Sale of 7,800 SF Industrial Facility in Hackensack

by David Cohen January 30, 2019

HACKENSACK, N.J. — NAI James Hanson has negotiated the sale of a 7,800-square-foot industrial/flex building in Hackensack. The sales price was undisclosed. Located at 238 High St., the property includes 16-foot ceilings and three overhead doors. Anthony Cassano of NAI James Hanson represented the seller, High Street Hackensack LLC, in the transaction. The buyer was Hackensack-based Vanore Electric, which was drawn to the property’s sizable footprint and ample truck parking in a highly accessible area, according to NAI Hanson.

January 30, 2019

Acquisitions Multifamily New Jersey Northeast

Marcus & Millichap Orchestrates $1.6M Sale of Multifamily Building in New Jersey

by David Cohen January 30, 2019

IRVINGTON, N.J. — Marcus & Millichap has arranged the $1.6 million sale of a multifamily building in Irvington. The 23-unit property is located at 818 Stuyvesant Ave. The property recently underwent extensive capital improvements. Kevin Taub of Marcus & Millichap’s New Jersey office represented the seller, a limited liability company. The buyer was a private investor.

January 30, 2019

Acquisitions Georgia Retail Southeast

Marcus & Millichap Brokers $1.3M Sale of New Family Dollar-Occupied Building Near Athens, Georgia

by Alex Tostado January 30, 2019

HULL, GA. — Marcus & Millichap has arranged the $1.3 million sale of a Family Dollar-occupied building in Hull, about seven miles north of Athens. The 8,247-square-foot building was delivered in 2018. Don McMinn of Marcus & Millichap’s Taylor McMinn Retail Group represented the seller, Butler Properties & Development, in the transaction. Joe Siemienowski of Siemienowski & Associates represented the buyer, ALBOC137 LLC.

January 30, 2019

Acquisitions Industrial Texas

Marcus & Millichap Arranges Sale of 42,768 SF Industrial Property in Metro Dallas

by Taylor Williams January 30, 2019

GARLAND, TEXAS — Marcus & Millichap has arranged the sale of a three-building, 42,768-square-foot industrial property in Garland, a northeastern suburb of Dallas. The buildings were constructed in 1968 on 2.8 acres. Adam Abushagur and Sam Martin of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity.

January 30, 2019

Acquisitions Office Washington Western

Newmark Knight Frank Arranges Sale of 174,546 SF Canyon Pointe Office Campus in Washington

by Amy Works January 30, 2019

BOTHELL, WASH. — Newmark Knight Frank (NKF) has arranged the sale of Canyon Pointe, a single-tenant office campus located at 22309 and 22213 30th Drive SE in Bothell. Terms of the transaction were not released. T-Mobile occupies the 174,546-square-foot Class A office campus under a long-term lease agreement. Built in 2007 on 9.8 acres, the property includes two three-story buildings with private third-floor balconies, abundant on-site parking, 30,000-square-foot floorplates and an outdoor landscaped area. Kevin Shannon, Nick Kucha, Ken White, Michael Moll and Bill DeLacy of NKF represented the undisclosed seller in the deal.

January 30, 2019

Acquisitions California Restaurant Retail Western

Valore Ventures Acquires Fee Simple Interest in Four Disneyland-Area Restaurants for $13.1M

by Amy Works January 30, 2019

GARDEN GROVE, CALIF. — Beverly Hills, Calif.-based Valore Ventures has closed on fee simple interest in four brand-name restaurants in Garden Grove for $13.1 million. The restaurants include Oggi’s Pizza & Brewery, Outback Steakhouse, Red Robin Gourmet Burgers and Brews, and Joe’s Crab Shack. The assets are all subject to ground leases and were built between 2001 and 2008 in conjunction with surrounding development that includes three high-rise hotels in Garden Grove. The properties also feature a 2.8-acre parking lot, which is owned by the nearby Sheraton, Marriott and Delta hotels, but is exclusively for restaurant use. Valore Ventures purchased the site as one large parcel, which the company plans to spilt into four individual parcels for sale. Tom Fazekas of Fazekas Retail Group in San Francisco represented the seller in the transaction.

January 30, 2019

2510-2530-West-Coast-Hwy-Newport-Beach-CA

Acquisitions California Retail Western

CBRE Brokers $6.4M Sale of Two-Building Retail Asset in Newport Beach

by Amy Works January 30, 2019

NEWPORT BEACH, CALIF. — CBRE has arranged the sale of a retail and showroom property, located at 2510-2530 West Coast Highway in Newport Beach. A high-net-worth investor acquired the asset from Shafer Family Trust for $6.4 million. Anthony DeLorenzo, Gary Stache, Doug Mack and Ross Bourne of CBRE represented the seller and buyer in the transaction. Bayport Yachts occupies the two single-story buildings, which total 4,452 square feet. The property currently serves as the retail building and showroom for a yacht dealership, a tenant since 2001.

January 30, 2019

Acquisitions New Jersey Northeast Office

Paramount Assets Acquires 12-Story Office Building in Newark

by David Cohen January 29, 2019

NEWARK, N.J. — Paramount Assets has acquired 17 Academy Street, a 100,000-square-foot, 12-story office building in Newark’s Four Corners Historic District. The sales price was undisclosed. Built in 1926, the property was 70 percent occupied at the time of sale by a variety of professional services firms. Situated between Halsey and Broad streets, 17 Academy Street is directly across the street from the world headquarters of the Prudential Insurance Co. and is within walking distance of public transportation. Paramount Assets already owns three other properties on the same street, 31 Academy, 27 Academy and 45 Academy.

January 29, 2019

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