MIDLOTHIAN, ILL. — Quantum Real Estate Advisors Inc. has brokered the $6.2 million sale of Mid-Oak Plaza in Midlothian, a southwestern suburb of Chicago. Walgreens and Charter Fitness anchor the 73,284-square-foot retail center, which is located at 14702-14740 S. Cicero Ave. Chad Firsel of Quantum represented the seller, a metro Chicago-based acquisition and development company. A private real estate owner based in southern suburban Chicago was the buyer.
BOSTON — CommonWealth Partners has acquired the Pier 4 office building in Boston’s seaport district from developer Tishman Speyer for $450 million. The 372,372-square-foot property sold for $1,208 per square foot, the highest ever for a Boston office property, according to Tishman Speyer. Located at 200 Pier 4 Blvd., the building was designed by Elkus Manfredi Architects of Boston and completed in May 2018. Pier 4 currently serves as the global headquarters for the Boston Consulting Group, educational content and technology services company Cengage Learning, and equity manager Man Numeric. “From the beginning, the Pier 4 site presented Tishman Speyer with a unique opportunity to create Boston’s finest modern mixed-use development,” says Jessica Hughes, managing director of Tishman Speyer. “We thank the City of Boston, the Commonwealth of Massachusetts, and the very dedicated waterfront community for sharing our vision for this property and working with us to bring that vision to full realization.” Amenities at Pier 4 include harbor views, a roof terrace, fitness center, bicycle storage and three levels of parking. Tishman Speyer is currently developing the final phases of the Pier 4 project, which will include a nine-story condominium building and one-acre public waterfront park. The Pier 4 …
MONTAUK, N.Y. — HFF has brokered the sale of Atlantic Terrace, a 96-room, full-service beach resort in Montauk. The sales price was not disclosed. The resort is located at 21 Oceanview Terrace and features oceanfront views with direct beach access, outdoor swimming pool and fitness center. KC Patel, Daniel C. Peek and Manuel de Zárraga of HFF represented the private seller in the transaction. Bridgeton Holdings purchased the property unencumbered of existing management.
NEW YORK CITY — The Manhates Group has negotiated the $9.3 million sale of a 10-unit multifamily building in the Chelsea neighborhood of Manhattan. The 9,375-square-foot property is located at 445 W. 21st St. Michael Sherman of The Manhates Group represented the buyer, ECA New York Real Estate Advisors, in the transaction. Houlihan-Parnes Realtors represented the undisclosed sellers.
EDISON, N.J. — Avanath Capital Management has acquired Menlo Manor, a 240-unit affordable senior housing community in Edison. Avanath acquired the property through its institutional fund, Avanath Affordable Housing III. The five-story property was built in 1980 and features a community room, exterior courtyard, library, dining area, community kitchen and automatic front doors. Located at 161 Inman Ave., the community includes a mix of studios, one-, and two-bedroom units. Alex Medeiros of CBRE represented the seller, Jeff Spragens.
ATLANTA — HFF has brokered the sale of Buckhead Tower, a 19-story office tower located at 3399 Peachtree Road N.E. in Atlanta’s Buckhead district. Richard Reid, Ed Coco, Ryan Clutter, Dek Potts and Ralph Smalley of HFF arranged the transaction on behalf of the seller, a joint venture led by Parmenter Realty Partners Fund IV. The team also procured the undisclosed buyer. Other terms of the deal were not disclosed, but the Atlanta Business Chronicle reports an affiliate of TPA Group acquired the asset for $96.5 million. Additionally, the HFF team arranged a floating-rate acquisition loan through MetLife Real Estate on behalf of the buyer. The 348,000-square-foot Buckhead Tower is directly connected to Lenox Square Mall and the JW Marriott Hotel and is located adjacent to the Buckhead MARTA station. The building features a full-service café, fitness center, structured parking and 24/7 controlled access. Buckhead Tower is home to tenants such as State Bank, Gables Residential, Applied Systems, Networx Systems and Crowe Hogarth.
LAKELAND, FLA. — Ridge, the industrial development arm of Transwestern Development Co., has sold Lakeland Logistics Center, a 490,000-square-foot industrial campus located at 2015-2025 W. Memorial Blvd. in the Tampa Bay community of Lakeland. Boston-based Cabot Properties acquired the two-building campus for an undisclosed price. Chris Riley and David Murphy of CBRE brokered the transaction. Each building at Lakeland Logistics Center totals 245,000 square feet and is divisible to 44,000 square feet. The buildings each feature front-load or cross-dock capability, 74 dock doors, 32-foot clear heights, 45 trailer parking spaces and a 3.5-acre staging base. Ridge broke ground on Lakeland Logistics Center in 2015 and fully delivered the facilities in early 2017. The project was 50 percent leased at the time of sale to Parksite Inc. and Recleim Nova LLC. Julia Silva Rettig and Jared Bonshire of Cushman & Wakefield are handling the property’s leasing assignment.
MELBOURNE, FLA. — CBRE has arranged the $13.1 million sale of Rialto Place, a 150,962-square-foot office building located at 100 Rialto Place in Melbourne, a city on Florida’s Space Coast. Ron Rogg and Chip Wooten of CBRE brokered the transaction on behalf of the undisclosed seller. The name of the buyer was not disclosed. The 10-story office building is home to tenants including Apple, Northrop Grumman, Thales and Leidos. The property is located adjacent to a 240-room Hilton hotel, which features a full-service restaurant and bar and a conference facility.
LEXINGTON, KY. — NAI Isaac has secured the $8.5 million sale of Stonewall Shopping Center, a 79,142-square-foot retail center located at 3101 Clays Mill Road in Lexington. Al Isaac of NAI Isaac arranged the transaction on behalf of the seller. Eli Mashni of Keller Williams represented the buyer. Other terms of the deal were not disclosed. Stonewall Shopping Center was 85 percent leased at the time of sale to tenants such as Bargain Hunt, Dollar Tree, Domino’s, Goodwill and Peoples Exchange Bank.
MESQUITE, TEXAS — Dallas-based retail brokerage firm STRIVE has arranged the sale of Pioneer Plaza, a 51,390-square-foot retail center in Mesquite, an eastern suburb of Dallas. The property was 85 percent occupied at the time of sale to mix of national, regional and local tenants. The seller was a group of investors based in California and Canada, and the buyer was a Texas-based investor.
