HACKENSACK, N.J. — NAI James E. Hanson has brokered the sale of a 7,987-square-foot industrial building located at 101 S. State St. in Hackensack. The building offers a clear height of 22 feet, one drive-in door and 11 parking spaces. David Ukleja of NAI Hanson represented the seller, BCB Janitorial Supply Co. Inc., in the transaction and procured the buyer, an entity doing business as APEX 101 Holdings LLC. The sales price was not disclosed.
PLANO, TEXAS — JLL has negotiated the sale of Independence Square, a 140,218-square-foot shopping center in Plano. Grocer Tom Thumb anchors the center, which was built in 1977 and renovated in 2005. Independence Square had a 94 percent occupancy rate at the time of sale, and other tenants on the roster include Oscar Nail Lounge, Cookies by Design, Great Clips, Little Greek Restaurant, Frost Bank, Jersey Mike’s and Workout Anytime. Chris Gerard, Barry Brown, Erin Lazarus and Ben Esterer of JLL represented the undisclosed seller in the transaction. The buyer was Dallas-based Head Capital Partners.
TOMBALL, TEXAS — Colliers has arranged the sale of a 17.6-acre industrial development site within Tomball Business & Technology Park on the northwestern outskirts of Houston. Tom Condon Jr. and John Grimsley of Colliers represented the seller, The Tomball Economic Development Corp., in the transaction. Will Condrey of Cresa represented the buyer, which plans to develop two build-to-suit facilities at the site for Walsh & Albert and Metal Zinc. Both of these companies supply products for HVAC systems.
SANTA CLARA, CALILF. — Newmark has arranged the sale of San Tomas Business Centre in Santa Clara. The nine-building property is located at 2060-2101, 2110, 2116 and 2118 Walsh Ave. It comprises office and light industrial/warehousing space. Corporate offices for Nvidia, Google, Apple, Amazon and Samsung are nearby. Newmark’s Steven Golubchik, Edmund Najera, Jonathan Schaefler and Darren Hollak arranged the transaction.
VERO BEACH, FLA. — Marcus & Millichap has brokered the $6.4 million sale of Best Western Vero Beach, a 65-room hotel located at 9330 19th Lane in Vero Beach. The buyer, a private, undisclosed 1031 exchange investor, financed the acquisition with a bridge loan. Ahmed Kabani and Kian McLean of Marcus & Millichap’s Miami office represented the seller, a partnership, in the transaction. The Best Western hotel is situated off I-95 near the Vero Beach Outlets, an outlet mall housing national retailers including LOFT and Columbia Factory Store. Hotel amenities include complimentary breakfast, guest laundry, an outdoor swimming pool and a fitness center.
COVINGTON, PA. — Atlanta-based investment and development firm Portman has sold Covington Logistics Center, a 501,600-square-foot industrial property in northeast Pennsylvania. The facility sits on 36 acres, features a clear height of 40 feet and was fully leased at the time of sale to third-party logistics firm All-Ways Pacific. Gerry Blinebury of Cushman & Wakefield represented Portman in the transaction. Houston-based real estate giant Hines purchased the property for an undisclosed price.
LIVINGSTON AND NEW PROVIDENCE, N.J. — Cushman & Wakefield has arranged the $40.5 million sale of two medical office buildings totaling 131,314 square feet in Northern New Jersey. The buildings, which are located in Livingston and New Providence, were both fully leased at the time of sale to regional provider Summit Health. Gary Gabriel, Frank DiTommaso, David Bernhaut, Andy Merin and Max Helfman of Cushman & Wakefield represented the seller, The Silverman Group, in the transaction. Len Blackman of Leklen Realty represented the buyer, Nashville-based Montecito Medical Real Estate.
NEW CASTLE, DEL. — Colliers has brokered the sale of a 100,000-square-foot industrial building in New Castle, located south of Wilmington in Delaware. The building sits on 6.6 acres and offers 80 car parking spaces, 30 trailer parking spaces, one drive-in door and 5,000 square feet of office space. Charles Brown and Carl Neilson of Colliers represented the seller and procured the buyer, both of which were limited liability companies that requested anonymity, in the transaction.
TOLEDO, OHIO — Marcus & Millichap has brokered the sale of a 3,720-square-foot retail building in Toledo for $2.2 million. The property is home to Starbucks and Verizon. Both tenants have occupied the building since it was constructed in 2007. Suzanne Sharbek, Christopher Jackson, Erin Patton, Craig Fuller and Scott Wiles of Marcus & Millichap represented the seller, a limited liability company. The all-cash buyer was a 1031 exchange investor based in California.
HOUSTON — JLL has negotiated the sale of Briar Forest Crossing, a 94,404-square-foot office building in West Houston. The four-story building was 73 percent leased at the time of sale. Marty Hogan of JLL represented the seller, CapRidge Partners, in the off-market transaction. Doug Pack of Colliers represented the buyer, LM & Associates, which purchased the property via a 1031 exchange. Colliers has also been tapped to market the building for lease.