OKLAHOMA CITY — Tampa, Fla.-based self-storage brokerage firm SkyView Advisors has brokered the sale of a 513-unit Extra Space Storage facility in Oklahoma City. The property features 110 climate-controlled units and 403 non-climate-controlled units across 78,295 square feet. Ryan Clark of SkyView represented the seller in the transaction. The buyer and other terms of sale were not disclosed.
HOUSTON — Varden Capital Properties, an Atlanta-based firm specializing in value-add acquisitions, has sold Gracie Square, a 223-unit apartment community in west Houston. The property, which was sold as part of a larger disposition of 18 multifamily assets across the southern U.S., features one-, two-, three- and four-bedroom units. Amenities include two pools, a fitness center, outdoor grilling areas and a dog park. The buyer was The Walden Group, a New Jersey-based investment firm. Tyler Averitt and Craig Hey of Cushman & Wakefield brokered the sale.
DALLAS — Maryland-based investment firm First Washington Realty Trust has acquired The Shops at Lake Highlands Town Center, a 63,209-square-foot retail center in Dallas. Anchored by Sprouts Farmers Market, the property is situated within the Lake Highlands Town Center mixed-use development on the city’s northeastern side. The seller was not disclosed.
IRVING, TEXAS — SVN | Investment Sales has negotiated the sale of Crescent Ridge Apartments, a 50-unit multifamily property in Irving. The Class C property is located near both DFW International Airport and Dallas Love Field Airport. Nicholas Brown of SVN represented the seller and procured the buyer, both of which requested anonymity.
NEW YORK CITY — Cushman & Wakefield has arranged the $7.1 million sale of a 13-unit luxury apartment building in Queens. Located at 23-23 Astoria Blvd., the seven-story, 13,568-square-foot property consists of 12 one-bedroom apartments and one three-bedroom apartment. The building also features seven parking spaces, a laundry room and a common rooftop deck. Stephen R. Preuss represented the seller, an ownership group of Tinaandrew, Ballis, Juuj Realty and Theopan Properties LLC. The buyer was J & N Development.
LONG ISLAND CITY, N.Y. — Marcus & Millichap has negotiated the $6.4 million sale of a 2,700-square-foot development site in Long Island City. Located at 45-24 Pearson St., the property can accommodate 13,500 buildable square feet. The sale set a local record of $300 per buildable square foot, according to Marcus & Millichap. Jakub Nowak and Jonathan Eshaghian of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, in the transaction. The buyer was also a private investor.
BRANFORD, CONN. — The Geenty Group has brokered the $2.6 million sale of two office buildings in Branford. Located at 21 and 23 Business Park Drive, the properties total approximately 72,000 square feet. 21 Business Park Drive is a multi-tenant flex building while 23 Business Park Drive comprises multiple office and laboratory spaces. Kristin Geenty of the Geenty Group represented the seller, Todd’s Hill Investment Circle LLC, in the transaction. The buyer was Corner Properties LLC.
NEW YORK CITY — GFI Realty Services has arranged the $1.9 million sale of a four-unit multifamily building in the Ridgewood section of Queens. Located at 503 Grandview Ave., the two-story property was built in 1921 and includes two three-bedroom apartments and two four-bedroom apartments. The property was recently fully renovated. Yehoshua Shamel of GFI represented the seller and buyer in the transaction, both local investors.
PERRIS, CALIF. — Rockefeller Group has completed the sale of an industrial distribution building located within Optimus Logistics Center in Perris. KKR, through its Real Estate Partners Americas II Fund, acquired the newly constructed asset for $43.5 million. The 406,650-square-foot building is the second building to be completed and sold at Optimus Logistics Center, a 1.45 million-square-foot industrial complex. Rockefeller Group, in a joint venture with MBK Real Estate, completed the construction of Optimus Logistics Center in September 2018. Mike McCrary, Peter McWilliams, Sharon Wortmann and Scott Coyle of JLL represented both Rockefeller Group and KKR in the transaction.
PHILADELPHIA — Equity Commonwealth (NYSE: EQC) is under contract to sell BNY Mellon Bank Center, a 55-story, 1.3 million-square-foot office building located at 1735 Market St. in downtown Philadelphia. The price is $451.6 million. The buyer was undisclosed, though multiple media outlets report that a partnership between New York-based Silverstein Properties Inc. and Philadelphia-based Arden Group is acquiring the building. Proceeds after credits for capital costs, contractual lease costs, and rent abatements are expected to be approximately $435.6 million. The sale is slated to close by March 27. The asset is the fourth-largest building in Philadelphia. Amenities include The Lounge at 1735, a 19,000-square-foot space offering a 100-person classroom-style conference facility, fireplaces, wine lockers and TVs; Pyramid Club, a lounge on the 52nd floor offering a 360-degree view of Philadelphia, a bistro bar and a sit-down restaurant; the Philadelphia Sports Club, a 25,000-square-foot, two-story fitness center offering a sauna, rowing machine, group fitness classes, and massage therapy; and covered bike parking. BNY Mellon Bank Center was built in 1990 and designed by Kohn Pedersen Fox Associates. The building is situated less than a mile from Philadelphia City Hall and Logan Square, and less than two miles from the Liberty Bell. Chicago-based …
