Acquisitions

HFF Arranges $16M Sale of Office Complex on Long Island

by David Cohen January 23, 2019

HAUPPAUGE, N.Y. — HFF has arranged the $16 million sale of a two-building, 131,223-square-foot office complex in Hauppauge, Long Island. Located at 330 and 350 Motor Parkway, the property was originally built in 1971 and renovated between 2012 and 2016. The complex is currently 94 percent leased. Amenities include a full-service cafeteria, fitness center with locker rooms, shared conference rooms and tenant storage areas. Jose Cruz, Kevin O’Hearn, Andrew Scandalios, Stephen Simonelli and Michael Oliver of HFF represented the sellers, KABR Group and Capstone Realty Group, in the transaction. The buyer was Long Island-based Valley East Management.

January 23, 2019

Acquisitions Multifamily New Jersey Northeast

Spirit Bascom Ventures Acquires Apartment Building in Hoboken for $15.5M

by David Cohen January 23, 2019

HOBOKEN, N.J. — Spirit Bascom Ventures has acquired a 30-unit apartment building in Hoboken. The sales price was $15.5 million. Located at 204 Grand St., the six-story property was built in 2000. The building consists of a mix of one- and two-bedroom apartments. Nat Gambuzza and Manny Sanghera of CBRE represented the undisclosed seller in the transaction. Jamie Leachman of HFF arranged acquisition financing for Spirit Bascom through Citizens Bank.

January 23, 2019

Acquisitions Connecticut Industrial Northeast

Angel Commercial Brokers $4.8M Sale of Industrial Facility in Stamford

by David Cohen January 23, 2019

STAMFORD, CONN. — Angel Commercial has brokered the $4.8 million sale of an industrial facility in Stamford. Located at 72 Camp Ave., the 33,822-square-foot, two-story property is in the Springdale section of Stamford . The two tenants in the building are Building Blocks Learning Center and Upper Deck Fitness. Jon Angel of Angel Commercial represented both the buyer, 132 Jamaica Avenue Realty Corp., and the seller, 72 Camp Avenue LLC.

January 23, 2019

Acquisitions Industrial Massachusetts Northeast

Stubblebine Co. Negotiates $4.4M Sale of Industrial Property in Massachusetts

by David Cohen January 23, 2019

AUBURN, MASS. — The Stubblebine Co. has negotiated the $4.4 million sale of a 75,000-square-foot industrial facility in Auburn. Located at 33 Sword St., the three-acre property was the former Imperial Distributors distribution center before Imperial relocated to its current location in Worcester. David Skinner, David Stubblebine and James Stubblebine of Stubblebine Co. represented the undisclosed seller in the transaction. The buyer was F.W. Webb Co., a wholesale distributor of plumbing, heating, cooling and industrial products. F.W. Webb currently has a location at 43 Sword Street and plans to open a new wholesale store at 33 Sword Street.

January 23, 2019

Acquisitions Illinois Midwest Multifamily

Marcus & Millichap Arranges $2.3M Sale of Apartment Property in Elgin, Illinois

by Kristin Harlow January 23, 2019

ELGIN, ILL. — Marcus & Millichap has arranged the sale of Regency Apartments in Elgin for $2.3 million. The 32-unit apartment property is situated at 230 S. State St. The building includes four studios, 12 one-bedroom units, 12 two-bedroom units and four three-bedroom units. Andrean Angelov and Ryan Engle of Marcus & Millichap brokered the transaction. Neither the buyer nor the seller was disclosed.

January 23, 2019

Acquisitions Florida Office Southeast

Cushman & Wakefield Arranges $48.5M Sale of Office Building in Metro Orlando

by Alex Tostado January 23, 2019

MAITLAND, FLA. — Cushman & Wakefield has arranged the $48.5 million sale of Maitland Promenade One, a 230,371-square-foot office building in Maitland. KBS purchased the asset, which is situated within Maitland Center, an office park with eight Class A office buildings. KBS already owns Maitland Promenade Two. Maitland Promenade One is located about 10 miles north of downtown Orlando and was 98.1 percent leased at the time of sale to tenants including Allstate, Spectrum Communications, Adventist Health and Taylor Morrison. Michael Lerner, Mike Davis, Rick Brugge and Rick Colon of Cushman & Wakefield represented the seller, Boston-based TA Realty, a private real estate investment firm, in the transaction.

January 23, 2019

Acquisitions Multifamily Southeast Tennessee

Woodyard Realty Brokers $6.8M Sale of Multifamily Complex in Memphis

by Alex Tostado January 23, 2019

MEMPHIS, TENN. — Woodyard Realty Corp. has arranged the $6.8 million sale of Lakeville Townhomes, a 228-unit apartment community in Memphis. The asset was originally built in 1975, and in 2007, the undisclosed seller repositioned it as part of a condo-grade overhaul. The undisclosed New York-based buyer is planning further renovations. The property is situated about two miles from Memphis International Airport, and was 96 percent occupied at the time of the transaction. Lea Heilig of Woodyard Realty represented the buyer and seller in the transaction.

January 23, 2019

Acquisitions California Hospitality Western

Pacifica Hotels Acquires 128-Room Residence Inn by Marriott in Orange County for $25.5M

by Amy Works January 23, 2019

ANAHEIM, CALIF. — Pacifica Hotels has purchased Residence Inn by Marriott Anaheim Hills Yorba Linda, an extended-stay hotel located at 125 S. Festival Drive in Anaheim. An institutional seller sold the property for $25.5 million. Completed in 2002, the Residence Inn by Marriott comprises one common area building and two guest-room buildings. The 128-unit hotel features a meeting room, complimentary breakfast, evening social event, outdoor terrace with built-in grill, outdoor swimming pool, fitness center and business center. Scott Hall, Tony Malk, Aaron Lapping and Blake Malecha of HFF represented the seller in the deal.

January 23, 2019

Acquisitions Industrial Nevada Self-Storage Western

US Storage Centers Buys 1,269-Unit Self-Storage Facility in Las Vegas

by Amy Works January 23, 2019

LAS VEGAS — US Storage Centers has purchased a self-storage facility located at 8470 W. Charleston Blvd. in Las Vegas. Durango Mini Storage & Charleston Mini Storage sold the property for an undisclosed price. The 177,955-square-foot property features 1,269 self-storage units, video monitoring, gated access and RV/boat/auto storage. US Storage Centers, which was self-represented in the acquisition, currently owns and operates five self-storage facilities in the Las Vegas area.

January 23, 2019

Acquisitions Florida Multifamily Southeast

Carter Multifamily Acquires Apartment Complex in Tallahassee for $41.8M

by Alex Tostado January 22, 2019

TALLAHASSEE, FLA. — Carter Multifamily has acquired Polos on Park, a 440-unit apartment community in Tallahassee, for $41.8 million. Built in 1999, the complex is situated at 2626 E. Park Ave., about four miles east of downtown Tallahassee. The property comprises 21 two- and three-story residential buildings, nine garage structures and an amenity building. Carter Multifamily is planning a series of renovations and will rebrand the community as 2626 Park. Planned renovations include updating residential interiors, the pool, clubhouse and recreational areas. The company also plans to add a dog park, fitness center and outdoor gathering areas. The seller was not disclosed.

January 22, 2019

Newer Posts

Older Posts