HOUSTON — Lee & Associates has brokered the sale of a 143,332-square-foot industrial property located at 9411 Alcorn St. in Houston. Mike Spears, Derek Riggleman and Robert LaCoure of Lee & Associates represented the seller in the transaction. Abbas Rajabi of Mohegan Capital LLC represented the buyer, Mohegan Alcorn LP.
TOTOWA, N.J. — Lee & Associates has negotiated a 60,000-square-foot medical office lease for St. Joseph’s Health in Totowa, located in northwestern New Jersey. The space is housed within a two-building, 120,000-square-foot Medical Arts Complex that CHA Partners is developing. The property is on the corner of Minnisink and Vreeland roads, in close proximity to state routes 80, 46 and 23. Construction is underway and the facility is slated to open in early 2021. Brian Lynch, Peter Rasmusson, Jason Lynch and Joe Torman of Lee & Associates represented St. Joseph’s in the transaction.
NORRIDGE, ILL. — Lee & Associates has negotiated the $1.2 million sale of a 15,000-square-foot retail building in Norridge, about 15 miles northwest of Chicago. The property, partially occupied by Dollar General, is located at 7510 W. Irving Park Road. It also features a showroom. Rick Scardino and John Cassidy of Lee & Associates represented the seller. A private investor purchased the asset.
AVENEL, N.J. — Lee & Associates has brokered the sale of an 81,000-square-foot industrial warehouse in Avenel, just west of Staten Island. The property, located at 80 Essex Ave., includes 7,500 square feet of office space, 11 loading dock doors, (expandable to 19) and space for truck parking. The property offers direct access to the New Jersey Turnpike, Route 440, the Goethals Bridge and Garden State Parkway. Planned upgrades include new paving and a truck court. Crista Governara, Drew Maffey and Rick Marchisio of Lee & Associates represented the buyer, TA Realty, as well as the undisclosed seller, in the transaction.
WASHINGTON, D.C. — Lee & Associates has named Josh Simon president of the firm’s new Washington, D.C/Northern Virginia regional office. Simon previously served as a partner with NAI KLNB. Pierce Kruetzer — also formerly of NAI KLNB — joins Simon as a principal with the new Lee & Associates office. Simon expects to grow the office with eight to 10 brokers to assist clients in need of office landlord representation, office tenant representation, retail leasing, industrial leasing, debt services and investment sales services. “Establishing a presence in Washington, D.C. and Northern Virginia is an extremely critical component of the Mid-Atlantic expansion strategy outlined by Lee & Associates several years ago, given the continued strength and momentum of the commercial real estate sector surrounding the Nation’s Capital,” notes Allan Riorda, Lee & Associates Board Member and President of the Maryland office. “This program most recently initiated in central Pennsylvania with the opening of the Harrisburg office. Over the next several years, we intend to establish locations in Baltimore, Frederick, Hagerstown and points throughout northern Virginia including Dulles and Tysons Corner.” Simon says, “With its business model, Lee & Associates is able to offer more competitive commission splits, backed by similar tools …
SAN MARCOS, CALIF. — Lee & Associates has arranged the sale of an industrial building, located at 307 E. Carmel St. in San Marcos. James 2002 Revocable Trust sold the property to 307 E Carmel LLC for $3.9 million. The 18,452-square-foot building features 30 percent showroom, 30 percent office and 40 percent warehouse space. The new owner leased the property to Chefs Toys LLC. Marko Dragovic and Isaac Little of Lee & Associates – North San Diego County and Jim Snyder of Lee & Associates – Newport Beach represented the buyer, while Colliers International represented the seller in the deal.
BROOKLYN, N.Y. — Lee & Associates has brokered the sale of two multifamily buildings in Brooklyn for $36.5 million. The properties include 145 Henry St., a six-story, 45-unit elevator building; and 15-19 Wyckoff St., a four-story, 40-unit walkup property. The buyer, Isaac Abraham, plans to renovate the properties to modernize amenities. Both buildings are located close to public transportation lines. Chris Varjan, Vickram Jambu, George Steffani and Jonathan Braun of Lee & Associates represented both the buyer and seller, the estate of Alan Frank, which previously owned and managed the buildings for more than 40 years.
SOUTH ELGIN, ILL. — Lee & Associates has brokered the sale of a 10,348-square-foot industrial building located at 1640 Shanahan Drive in South Elgin. The sales price was not disclosed. Jay Farnam of Lee & Associates represented the buyer, West Bank Holdings. Morken & Associates represented the undisclosed seller.
PLEASANT PRAIRIE, WIS. — Lee & Associates has negotiated the sale of a 196,400-square-foot, speculative industrial building within LakeView Corporate Park in Pleasant Prairie for an undisclosed price. The newly completed building features 20 exterior docks and four drive-in doors. Tom Boyle of Lee & Associates represented the buyer, Scannell Properties. John Sharpe of Lee & Associates represented the seller, Lakeview Industrial Development, which is a joint venture between Hunzinger Construction Co. and Wangard Partners. Sharpe and Boyle have been retained by the new owner to market the property for lease.
HOUSTON — Lee & Associates has negotiated the sale of a 99,000-square-foot industrial building located at 701 Plastics Ave. in Houston. Trey Erwin and Dalton Knipe of Lee & Associates represented the buyer, Investment Property Exchange Services, in the transaction. Read King represented the seller, Usha Martin Americas Inc.