BOSTON — J. Safra Real Estate, an affiliate of international banking and investment firm Safra Group, has agreed to acquire the historic Faneuil Hall Marketplace in downtown Boston. Faneuil Hall traces its origins to 1742, when the site served as a meeting ground and a center of commerce for Boston residents and visitors. Today, the development is home to more than 80 individual businesses. The seller was Ashkenazy Acquisition Corp. Details of the transaction, such as the price and expected closing date, were not disclosed.
NEW YORK CITY — Marcus & Millichap has brokered the $7.5 million sale of an assemblage of three industrial-zoned lots in Brooklyn’s Greenpoint area. The assemblage consists of three lots along Huron Street, and the largest of the three parcels houses a 15,000-square-foot building. Thomas Brennan and Jakub Nowak of Marcus & Millichap represented the seller in the transaction. Vincent Pan and Tina Lin of Ritz Realty represented the buyer, which also plans to occupy the site. Both parties requested anonymity.
CARY, N.C. — A partnership between an affiliate of New York City-based Mack Real Estate Group (MREG) and Soundwater Properties has purchased Maynard Crossing, a grocery-anchored shopping center in Cary, a suburb of Raleigh. Built in 1996, the 122,901-square-foot property is located at the intersection of High House and N.W. Maynard roads. Maynard Crossing was 88 percent leased at the time of sale to tenants including Harris Teeter, Workout Anytime, Doctors Express, Riccobene Family Dentistry, Brigs Restaurant, Kathmandu Kitchen and All American Swim Supply, as well as a newly built outparcel gas station. Tom Kolarczyk, Danny Finkle, Jim Hamilton and Steele Burkett of JLL represented the undisclosed seller in the transaction. The sales price was not disclosed. MREG and Soundwater Properties will pursue their grocery-anchored retail acquisition strategy in markets throughout the East Coast.
DEARBORN, MICH. — Syndicated Equities has acquired Carhartt’s corporate headquarters and global design facility in Dearborn for an undisclosed price. The property, which is located at 5750 Mercury Drive, rises two stories and totals 58,722 square feet. The building is situated across the street from Ford’s global headquarters. Carhartt uses the facility for selecting fabrics and designs for new apparel. Syndicated acquired the property in a Delaware Statutory Trust ownership structure to accommodate investors completing 1031 exchanges along with accredited individual investors.
HILLIARD, OHIO — Colliers has brokered the sale of Northwest Corporate Plaza, a 221,736-square-foot light industrial portfolio in Hilliard, a northwest suburb of Columbus. The two-building portfolio is situated on 18 acres along Leap Road directly west of I-270 and near I-70. The buildings are home to seven tenants, including Micro Center, Yokowo Manufacturing of America, E-Cycle and Mectron North America. Alex Cantu, Alex Davenport and Shane Woloshan of Colliers represented the seller, Transwestern Investment Group. Diamond Properties was the buyer.
SALT LAKE CITY — A joint partnership between a fund advised by Crow Holdings Capital, Gardner Batt and BCG Holdings has completed the disposition of a newly constructed industrial building on 32 acres within Mountain View Industrial Park in Salt Lake City. A global investment manager acquired the Class A asset for an undisclosed price. A logistics company fully preleased the 243,232-square-foot building prior to its delivery in November 2023. The asset is part of Phase II of Mountain View Industrial Park, a multi-building, multi-phase warehouse and distribution project totaling approximately 1.3 million square feet. The second phase consists of the 243,232-square-foot Building C and the 179,400-square-foot Building B, both of which were completed in late 2023. Phase I featured an 833,280-square-foot building that was completed in 2022. The partnership acquired the 92-acre site at 300 South and 5960 West, where the entire project sits, in October 2020. Mountain View Industrial Park features offices finished to suit, 32-foot clear heights, abundant dock loading, heavy power, clerestory windows, skylights throughout the warehouse areas and ample trailer parking. Jeff Chiate, Rick Ellison, Jeffrey Cole and Matthew Leupold of Cushman & Wakefield’s National Industrial Advisory Group represented the seller in the transaction. The firm’s …
NORTH LAS VEGAS, NEV. — SRS Real Estate Partners has arranged the sale of Deer Springs Shoppes, a retail center in North Las Vegas. A Pennsylvania-based seller sold the asset to a Los Angeles-based private investor for $9.5 million. Totaling 28,224 square feet, the three-building property is located at 640 and 680 E. Deer Springs and 675 Dorrell Lane. Built in 2009 on 1.5 acres, Deer Springs Shoppes was fully leased at the time of sale. Current tenants include The UPS Store, Verizon and Pacific Dental. The transaction also includes a vacant pad site that for which a 4,000-square-foot development has been proposed. Patrick Luther of SRS Capital Markets represented the seller in the deal.
AUBURN, WASH. — Dalfen Industrial has acquired an industrial property at 214 21st St. SE in Auburn, approximately 20 miles south of Seattle. A private owner sold the asset for $5.2 million. Situated on 2.1 acres, the property offers 26,920 rentable square feet in a mix of office, industrial warehouse and outside storage yard space. The in-place tenant has three years remaining on its lease at a rate 58 percent below market value, according to Dalfen. Matt McLennan of Kidder Mathews represented the seller in the transaction.
SANTA CLARA, CALIF. — Maven Commercial has arranged the sale of University Shopping Center, a 2.9-acre retail center in the Bay Area city of Santa Clara. An entity controlled by the Bushnell family sold the asset to Bay Properties for $15.9 million, or $409 per square foot. Located at 2555 The Alameda, University Shopping Center features approximately 38,875 square feet of retail space. Tenants at the fully occupied property include Safeway, Taco Bell, Round Table Pizza and Wicked Chicken. Matthew Sheridan, Dominic Morbidelli and Santino DeRose of Maven Commercial handled the transaction.
RIDGECREST, CALIF. — Marcus & Millichap has arranged the sale of a self-storage facility, located 909 S. China Lake Blvd. in Ridgecrest, approximately 110 miles east of Bakersfield. Terms of the transaction were not released. Dean Trammell and Adam Schlosser of Marcus & Millichap represented the seller, an Alabama-based developer. Jim Markel of Marcus & Millichap’s Encino, Bakersfield, Fresno and Ventura branch served as the broker of record. Converted from a former Walmart in 2022, the 48,450-square-foot property features 457 first-floor, climate-controlled units. CubeSmart manages the asset.