RANDALLSTOWN, MD. — Klein Enterprises has sold Deer Park Center, a 170,000-square-foot flex office park located at 9631-9637 Liberty Road in Randallstown. Fernau LeBlanc Investment Partners (FLB), a commercial real estate owner and operator based in Bethesda, Md., purchased the four-building campus for an undisclosed price. Bill Prutting, Jay Wellschlager and Craig Childs of JLL represented Klein Enterprises, which has owned the property since 2010, in the transaction. Situated about five miles from I-695 and I-795, Deer Park Center’s tenant roster includes Island Quizine, N’Ferno Performing Arts Center, Center for Social Change Inc. and Greater Baltimore Insurance Agency.
YORKTOWN HEIGHTS, N.Y. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of The Shoppes at Jefferson Valley Mall, a 153,151-square-foot shopping center in Yorktown Heights. Built in 1983, the center is located about 40 miles north of Manhattan on a 12-acre site that is adjacent to Jefferson Valley Mall. Formerly anchored by Sears and now anchored by 24 Hour Fitness, the property was 24 percent leased at the time of sale. Joseph French Jr. and Kodi Traver of IPA represented the undisclosed seller and procured the buyer, a New York-based private investor, in the transaction.
ASHBURN, VA. — GI Partners Real Estate has purchased a data center located at 43915 Devin Shafron Drive in Ashburn, a city in North Virginia known as “Data Center Alley.” According to LoopNet Inc., the facility spans 138,600 square feet. Starwood Capital Group and minority owner and property manager Digital Realty sold the facility to GI Partners for an undisclosed price. CBRE’s Data Center Capital Markets team represented the sellers in the transaction. Built in 2010, the property was fully leased at the time of sale to two undisclosed “creditworthy tenants.” The 98-acre property offers 9 megawatts (MW) of critical power and can be expanded in the future.
NEWNAN AND ELLENWOOD, GA. — CBRE has brokered the sales of two retail strip centers in south metro Atlanta totaling nearly $4.4 million. The properties include Sullivan Towers, a 12,950-square-foot property located at 1065 Sullivan Road in Newnan, and Ellenwood Plaza, a 9,450-square-foot asset located at 222 Fairview Road in Ellenwood. Craig Taylor of CBRE’s Atlanta office represented the sellers, two undisclosed private entities, in each transaction. Local investor James Thomasson purchased Sullivan Towers and United Properties Ventures acquired Ellenwood Plaza. Sullivan Towers was fully leased at the time of sale to tenants including CVS/pharmacy, Carr Eye Care, Touch of India, Kuman and Surge Staffing. Ellenwood Plaza was 95 percent leased to tenants including Metro PCS and Domino’s Pizza.
MEDFORD, N.Y. — Cushman & Wakefield has brokered the $4 million sale of a 552,341-square-foot commercial development site in the Long Island community of Medford. The 12.6-acre site comprises two lots that can support a range of uses, including industrial or storage. Daniel Abbondandolo and Rob Cullen of Cushman & Wakefield represented the sellers, Mary Spina Realty Inc. & Philip Spina Realty Inc., in the transaction. David Pennetta and Stephen Cadorette, also with Cushman & Wakefield, represented the buyer, Blue Sky Endeavors.
GREENWOOD, IND. — Echo Real Estate Capital has acquired a 57,000-square-foot medical office building in the Indianapolis suburb of Greenwood for an undisclosed price. Located at 555 County Line Road, the multi-tenant property is anchored by Community Health and Goodman Campbell Brain & Spine. The building is currently 64 percent occupied. Echo plans to undertake several capital improvements, including a lobby renovation, roof replacement, parking lot repairs and landscaping upgrades. Wintrust Bank provided acquisition financing. The transaction marks Echo’s fourth acquisition in the submarket.
LOS ANGELES — Matthews Real Estate Investment Services has brokered the $20.1 million sale of a portfolio comprising 12 single-tenant retail properties. Located largely in California and Washington, Napa Auto Parts occupies all the properties on a net-lease basis. Brandon Perez and Bill Pedersen of Los Angeles-based Matthews arranged the sale on behalf of the undisclosed limited liability company. A publicly traded REIT purchased the portfolio.
MIAMI — Empira Group, a Switzerland-based institutional real estate investment firm, has acquired a development site at 901 SW Third Ave., formerly known as Empire Brickell, in Miami’s Brickell area. The firm plans to build a 26-story apartment tower comprising 310 market-rate units with roughly 2,500 square feet of retail space on the ground floor. Construction is scheduled to commence in the first quarter of 2024, with completion slated for 2026. The multifamily high-rise, designed by Coral Gables-based Corwil Architects, will offer a range of studio, one-, two- and three-bedroom units along with 380 parking spaces. Amenities will include a pool, fitness center, lounge area and business center all located on the seventh floor. The building will meet specific environmental and sustainability standards, such as energy efficiency, water conservation, use of sustainable materials and indoor air quality, to achieve at least a LEED Silver certification. The transaction marks Empira’s second development site acquisition in greater downtown Miami in the last eight months. “This investment underlines Empira’s commitment to investing in Miami’s residential real estate market, which is poised for tremendous growth over the next few decades,” says Lahcen Knapp, Empira’s chairman. “Miami has emerged as one of the top U.S. …
ELLABELL, GA. — Kiss, a global cosmetics company, has acquired a 708,990-square-foot industrial facility underway in the western Savannah suburb of Ellabell. CRG sold the warehouse, which will be located within the developer’s 300-acre The Cubes at Interstate II campus. Chris Tomasulo, Ryan Hoyt and Bennett Rudder of JLL represented CRG in the transaction. The sales price was not disclosed. Kiss plans to utilize the property for distribution of its cosmetics products once completed. Located at 1864 Interstate Blvd., Building B at The Cubes at Interstate II is located less than two miles from I-16, 15 miles from I-95, 25 miles from Savannah/Hilton Head International Airport and approximately 30 miles west of the Port of Savannah. The development is part of the larger Interstate Centre industrial park in Bryan County. At full buildout, The Cubes at Interstate II will span 4.3 million square feet of industrial space leased to tenants such as Rooms To Go and McKesson Medical-Surgical, among others.
MARIETTA, GA. — FCP has purchased Amber Grove at Olley Creek Apartments, a 360-unit community located in the north Atlanta suburb of Marietta. Travis Presnell and James Wilber of Cushman & Wakefield represented the undisclosed seller in the $51 million transaction. Located at 2050 Austell Road, the gated property features a leasing center and club room, swimming pool, dog park, fitness center, community garden and a playground. FCP plans to add in-unit washers and dryers and provide an afterschool program for children living at the property. With the purchase of Amber Grove at Olley Creek, the Chevy Chase, Md.-based investment firm now owns 7,230 apartment units in the metro Atlanta area.