SPRING HILL, FLA. — SRS Real Estate Partners has brokered the $4.1 million sale of a new restaurant located at 10377 County Line Road in Spring Hill, about 50 miles north of Tampa. Chipotle Mexican Grill leases the 2,489-square-foot property on a 20-year, corporate-guaranteed lease. The restaurant is an outparcel to Seven Hills Center, a shopping center anchored by Publix, and is situated a half-mile from Tampa General Hospital Spring Hill. Patrick Nutt and William Wamble of SRS represented the seller, a developer based in Florida, in the transaction. A private investment firm based in Colorado purchased the restaurant at a 4.66 percent cap rate.
FAIR LAWN, N.J. — Locally based development and investment firm Atkins Cos. has purchased a 150,000-square-foot office building in the Northern New Jersey community of Fair Lawn for $22 million. Summit Health anchors the three-story building via a 78,000-square-foot footprint. Jeff Dunne, Doug Rodio, Travis Langer, Dan Blumenkrantz, Brannan Knott and Chris Bodnar of CBRE represented the seller, metro Philadelphia-based Keystone Development + Investment, in the transaction. The team also procured Atkins Cos. as the buyer. Upon closing, the new ownership also secured leases with law firm Gottlieb & Greenspan (6,000 square feet) and SportsCare Physical Therapy (4,600 square feet), bringing the property to full occupancy.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $11.8 million sale of a 29,975-square-foot mixed-use building in East Harlem. The building is located at 1875 Lexington Ave. and comprises 30 multifamily units and six commercial spaces. Shimon Shkury, Victor Sozio and Alexander Taic of Ariel represented the undisclosed seller in the transaction. The buyer was locally based private equity firm Tahari Capital.
IRVINE, CALIF. — J+R Group has completed the sale of 2525 Main Street, an office building in Irvine, to Pacific Tree Capital for $37.6 million, or $262 per square foot. Situated on 3.7 acres, 2525 Main Street offers 143,269 square feet of office space. At the time of sale, the property was 98 percent leased to nine tenants. Prior to sale, J+R Group invested significant capital into all aspects of the building, including all common areas, tenant spaces, a brand new six-story parking garage and approved residential entitlements on excess land. Jeffrey Cole, Nico Napolitano, Kevin Nolen, Jason Kimmel and Kristen Schottmiller of Cushman & Wakefield represented the seller in the transaction.
NEW YORK CITY — Marcus & Millichap has brokered the $4.6 million sale of a 10-unit apartment building in Queens. The elevator-served building at 18-10 Astoria Blvd. offers studio and one-bedroom units, as well as a landscaped rooftop terrace. Sean Fopeano, Shaun Riney, Louis Zarif and David Cornejo of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties requested anonymity.
GLENDALE, ARIZ. — Echo Real Estate Capital, in joint venture with Grandview Partners, has completed the sale of Echo Park 303 – Building A in Glendale to LBA Logistics for an undisclosed price. Will Strong, Molly Hunt, Michael Matchett, Madeline Warren and Jack Stamets of Cushman & Wakefield’s National Industrial Advisory Group – Mountain West represented the seller in the transaction. Located at 9701 N. 151st Ave., the freestanding building offers 220,240 square feet of industrial space on 13.7 acres. The asset is park of a larger 38.6-acre industrial business park that also includes a 455,936-square-foot building. Echo Park 303 was originally designed by LGE Design Build.
LAS VEGAS — CBRE has brokered the sale of an industrial building located at 3670 W. Oquendo Road in Las Vegas. HS Property NV LLC acquired the asset from NOR Oquendo Road LLC for $7.9 million. The 28,420-square-foot building features a high-image, 6,534-square-foot two-story HVAC office space with an elevator, 12 covered parking spaces (34 total), 3,000 amps, three-phase power and a 28-foot clear height. Tyler Ecklund of CBRE represented the seller in the deal.
DENVER — NorthPeak Commercial Advisors has arranged the sale of Brunetti Lofts, an apartment property located at 1316-1328 26th St. in Denver. The 23-unit asset traded for $3.1 million, or $135,652 per unit. Kevin Calame and Matt Lewallen of NorthPeak Commercial Advisors worked with the seller in the transaction.
BLOOMINGTON, ILL. — AXIS 360 Commercial Real Estate has negotiated the sale of the historic Pantagraph building in downtown Bloomington. Lifelong Access, a provider of community health and support services, purchased the 54,000-square-foot building at 301 W. Washington St. that was formerly home to the Pantagraph newspaper. The acquisition was made possible through a $21.7 million grant from the Healthcare Transformation Capital Investment Grant program, administered by the Illinois Department of Healthcare and Family Services. Meghan O’Neal-Rogozinski and Michael O’Neal of AXIS 360 represented the seller, while Robbie Osenga of AXIS 360 represented the buyer. The property will serve as the home of a collaboration between Lifelong Access, Chestnut Health Systems, the Regional Office of Education and other local nonprofit organizations to provide a one-stop support services hub primarily focused on youth. Renovations are expected to begin this fall with plans to preserve elements of the building’s historic character.
LEE’S SUMMIT, MO. — Prudent Growth Partners LLC has acquired Douglas Square in the Kansas City suburb of Lee’s Summit for $11.6 million. The 59,451-square-foot shopping center was built in 1999 and is home to 18 local and national tenants. The property is situated on NE Douglas Street with proximity to I-470. Prudent Growth is a private equity real estate investment company based in Chapel Hill, N.C.