MIDDLEBOROUGH, MASS. — NKF has brokered the sale of 19 Leona Drive and 139 Campanelli Drive in Middleborough. The two distribution facilities were sold for an undisclosed price. 19 Leona Drive currently serves as the corporate headquarters for Sager Electronics, an electronic components distributor. 139 Campanelli Drive serves as a distribution center for Stop & Shop, a regional grocer with more than 400 stores across New England, New York and New Jersey. Both properties are located within the Campanelli Business Park, a 220-acre, 1.5 million-square-foot industrial campus. Edward Maher, Matthew Pullen, James Tribble and Samantha Hallowell of NKF represented the sellers, Artemis Real Estate Partners and Calare Properties. The buyer was NorthBridge Partners.
MALVERN, PA — Marcus & Millichap has negotiated the $5.7 million sale of Montgomery County Intermediate Office – Unit 23, a 40,000-square-foot, net-leased office building in Malvern. Located at 333 Technology Drive, the office is used for educating and training public school employees. Eric Grad and Alex Mobin of Marcus & Millichap represented the seller, a developer and property owner, in the transaction. The seller purchased the building in 2006. The buyer was in a 1031 exchange.
SAN ANTONIO — SRS Real Estate Partners has negotiated the sale of two restaurant properties in San Antonio for $4.4 million. Both assets were built in 2012, feature drive-thru lanes and are triple net leased for 15 years to Bush’s Chicken, a Waco-based restaurant chain. Matthew Mousavi and Patrick Luther of SRS, along with Chris Mueller of San Antonio-based Mueller Ventures, represented the single seller of both assets. The buyers were undisclosed, individual private investors.
LYNWOOD, ILL. — SkyView Advisors has brokered the sale of E-Z Self Storage of Lynwood for an undisclosed price. The facility features 650 non-climate-controlled units and 85,825 net rentable square feet. The property is situated on six acres at 19600 Stoney Island Ave. Ryan Clark and Parker Sweet of SkyView represented the seller, a private owner. A private equity-backed buyer purchased the asset.
NEW YORK CITY — A partnership between L&L Holding Co., Normandy Real Estate Partners and an institutional investor advised by J.P. Morgan Asset Management has acquired Terminal Stores, a 1.2 million-square-foot complex in the West Chelsea neighborhood of Manhattan, for $880 million. Constructed in 1891, Terminal Stores originally served the railroad lines that dominated the middle Hudson River waterfront. Coleman Burke, managing partner of Waterfront New York Realty, purchased the complex in 1983 and converted it into self-storage and office space. Current tenants include Uber Technologies Inc., L’Oréal USA and architectural firm Grimshaw. The property spans the entire block bounded by 11th Avenue, 12th Avenue, West 27th Street and West 28th Street. The partnership plans to transform the former warehouse complex into an office and retail development. Plans call for the conversion of approximately 500,000 square feet of self-storage space into Class A office use. Darcy Stacom and Bill Shanahan of CBRE represented the seller, a joint venture between Waterfront New York and GreenOak Real Estate Advisors LP. James Millon, Tom Traynor, Ethan Gottlieb and PJ Finley of CBRE Debt & Structured Finance arranged the $650 million acquisition financing on behalf of the borrower. Manhattan-based L&L is a privately owned …
GALLATIN, TENN. — Security Properties and ReCap, a Reinsurance Group of America company, acquired Stoneridge Farms at the Hunt Club, a garden-style apartment community in Gallatin, a suburb 25 minutes from Nashville. The Class B property features 364 units in a mix of one-, two- and three-bedroom floorplans with oak raised panel cabinet doors, laminate countertops, a mix of vinyl and carpeting and faux stainless steel appliances. The buyers plan to renovate all unit interiors to a high-end finish, with stainless steel appliances, quartz countertops, upgraded vinyl and carpeting and new fixtures. Security Properties Residential, an affiliate of Security Properties, will manage the asset.
MYRTLE BEACH, S.C. — Passco Cos. has purchased The Lively at Carolina Forest, an apartment property located at 107 Village Center Blvd. in Myrtle Beach. Orange Capital Advisors/CF Evans sold the property for $48.2 million. Constructed in 2017, the property features 305 units in a mix of studio, one-, two- and three-bedroom floorplans with nine- and 10-foot ceilings, quartz or granite countertops, vinyl plank wood or polished concrete flooring, stainless steel appliances, washers/dryers and walk-in closets. Onsite amenities include a standalone community “beach house” backing up to a several-acre water feature, community gardens, a fire pit, gathering area, gas grilling stations, fitness center with kids’ room, car care station, dog park, dog washing station, package attendant service, a saltwater pool and elevators. Marc Robinson, Jordan McCarley and Tai Cohen of Cushman & Wakefield represented both the buyer and seller in the deal. Chris Black and Caleb Marten of KeyBank Real Estate Capital’s Commercial Mortgage Group arranged acquisition financing for Passco Cos.
LOUISVILLE, KY. — Goldin Management has sold Colonial Oaks, a multifamily development located at 5011 Southside Drive in Louisville. Patrick Kelley and Connie Kelley acquired the property for an undisclosed price. Built in 1970, Colonial Oaks features 192 units in a mix of one- and two-bedroom layouts. Brandon Wilson and Brian Devlin of Nashville-based The Kirkland Co. brokered the deal.
NEW YORK CITY — Big City Realty LLC has acquired a six-story mixed-use building in the Hamilton Heights neighborhood of Manhattan for $18.4 million. Located at 3440 Broadway, the 47,714-square-foot property includes 34 residential units, five retail stores and two professional offices. Peter Vanderpool of Cignature Realty represented Big City Realty in the transaction. The seller was undisclosed.
WASHINGTON, N.J. — HFF has brokered the $16.2 million sale of The Village Shoppes at Hawk Pointe and Hunterdon Medical Office Building in Washington. The Village Shoppes at Hawk Pointe comprises an 81,415-square-foot, fully leased, ShopRite-anchored retail center. Other tenants at the retail property include Anytime Fitness and Visions Federal Credit Union. Built in 2016, the Hunterdon Medical Office Building is a 25,000-square-foot, single-tenant property occupied by Hunterdon Healthcare. HFF represented the seller, Asbury Farms, in the transaction. The buyer was Larken Associates.