PEARLAND, TEXAS — Dallas-based investment firm Ridgeline Capital Partners has purchased Pearland Central Medical Plaza, a 41,763-square-foot medical office building in Pearland, a southwestern suburb of Houston. Built in 2003, the Class A property was 83 percent occupied at the time of sale by tenants offering services in imaging, orthopedics, physical therapy, primary care and dentistry. The seller was not disclosed.
TOWN AND COUNTRY, MO. — Ten Capital Management (TCM) has acquired 575 Maryville, a Class A office building in Town and Country, a suburb of St. Louis. The 258,441-square-foot building includes a fitness center, two conference rooms, on-site dining and parking. The property is currently 97 percent leased to four tenants, including anchor Cushman & Wakefield. Neither the seller nor the sales price was disclosed.
KANSAS CITY, MO. — The LCP Group LP and Blue Vista Capital Management have acquired the Hilton Kansas City Airport hotel for an undisclosed price. The 347-room hotel is located less than three miles from the Kansas City International Airport. The hotel recently underwent renovations to its guest rooms, public spaces and meeting rooms. In addition to a fitness center and pool, the property features an on-site restaurant, Asado Urban Grill. HEI Hotels & Resorts will manage the hotel.
ATLANTA — A joint venture between New York Life Insurance Co. and Ilmarinen Mutual Pension Insurance Co. has purchased Prominence in Buckhead, a 433,000-square-foot, Class A office building in Atlanta’s Buckhead district. The seller and sales price were undisclosed, but multiple media outlets report that Crocker Partners LLC sold the asset for $166 million. The 19-story building was delivered in 1999 at the intersection of Piedmont and Lenox roads. New York Life Real Estate Investors represented the joint venture in the transaction. According to the firm’s Atlanta’s office, the lobby, amenities and common areas of Prominence will be upgraded.
MIAMI — HFF has arranged the $48.7 million sale of the Pullman Miami Airport Hotel, a 281-room hotel in Miami’s Blue Lagoon Office Park. The hotel was constructed in 1986 and underwent a multimillion-dollar renovation in 2016. Amenities include 18,500 square feet of indoor and outdoor meeting and event space; an outdoor pool; tennis courts; fitness center; business center; and two food and beverage outlets, La Riviera and Le Bar. The hotel is located about four miles from Miami International Airport. Alexandra Lalos, Tony Malk and Daniel Peek of HFF represented the undisclosed seller in the transaction. The buyer was London & Regional, a London-based real estate firm.
SEATTLE — CIM Group, a real estate owner and operator based in Los Angeles, has purchased the historic Dexter Horton Building in downtown Seattle. The seller and sales price were not disclosed, but the Puget Sound Business Journal is reporting that Great Eagle Holdings Ltd. sold the 15-story office building for $151 million. The 335,000-square-foot Art Deco structure occupies a full city block at 710 2nd Ave. near the historic Pioneer Square area and Elliott Bay. The office building’s tenant roster includes companies in the technology, government, nonprofit, media, healthcare and professional services industries. Built in 1924, the historic building was renovated in 2002 and again in 2015, resulting in the addition of a penthouse lounge, rooftop deck, bike storage, shower and locker rooms and an indoor dog lounge. The property is named after Dexter Horton, the founder of the first bank in the city of Seattle. The office building was originally home to the Bank of Dexter Horton, which is Bank of America’s oldest bank in the Puget Sound region. The office building features ground-floor retail space fronting 3rd Avenue leased to Pegasus Coffee, Working Washington and SEIU 775, a local healthcare workers union. The transit-oriented property is situated …
PISCATAWAY, N.J. — NAI James E. Hanson has negotiated the sale of a 41,700-square-foot industrial building in Piscataway. The sales price was not disclosed. Located at 727 S. Ave., the property features 14-foot ceilings, five loading platforms and one drive-in door as well as 2,500 square feet of office space. Eric Demmers and Russell Verducci of NAI James E. Hanson represented the buyer, cabinet manufacturer Cavalli Cabinets LLC, in the transaction. The seller was Deals for Less LLC. Cavalli Cabinets plans to use the space for kitchen cabinet manufacturing, warehouse and distribution.
BETHLEHEM TOWNSHIP, PA. — Colliers International has arranged the sale of a 29-acre development site in Bethlehem Township. The sales price was not disclosed. The parcel is located near Route 33, I-78 and Route 22. Future plans have not been finalized, but the property’s zoning allows for multiple uses. Kelly Berfield and Ryan Dietrick of Colliers International’s Allentown office represented the buyer, River Hills Estates, in the transaction. The seller was Joanne Turocy.
NEW LONDON, CONN. — The Hampshire Cos. has acquired a two-acre parcel in New London and has unveiled plans to develop a 100,000-square-foot self-storage facility on the site. The development site is located at 351 N. Frontage Road. The 800-unit facility will feature modern architecture with four levels of climate-controlled storage space. Construction is slated to begin in the second quarter. Hampshire Cos. has repositioned or developed 33 self-storage facilities with an aggregate value of more than $415 million since 2012.
NEW YORK CITY — Marcus & Millichap has brokered the $4.7 million sale of a four-unit apartment property in Brooklyn. Located at 91 1st Place, the five-story property measures 7,200 square feet. Shaun Riney, Michael Salvatico and John Barney of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, in the transaction. The buyer was also a private investor.
