NEW YORK CITY — Lee & Associates has brokered the $32.2 million sale of a 50,000-square-foot parking garage in Manhattan’s Flatiron district. Located at 41-47 E. 21st St., the four-story garage is six blocks from the 4, 5, 6, L, N, Q, R and W trains. Steve Lorenzo, Mitchell Salmon and Christopher Ventura of Lee & Associates represented the buyer, Mequity Cos., in the transaction. Sidney Rosenthal of Lee & Associates represented the seller, Zucker Organization.
HOUSTON — Lee & Associates has negotiated a 13,280-square-foot industrial lease in Houston. Mike Spears, Robert McGee and Mason Alsbrooks of Lee & Associates represented the landlord, 6811-6815 Gant Road LLC, in the lease negotiations. The tenant was Black Diamond Real Estate Inc., a Virginia-based property management firm.
DALLAS — Lee & Associates has negotiated a 54,141-square-foot industrial lease at 11567 Hillguard Road in Dallas. Brett Lewis and George Tanghongs of Lee & Associates represented the landlord, GLP, in the lease negotiations. Transwestern represented the tenant, Consolidated Electrical Distributors Inc., an Irving-based electrical supply distributor with more than 600 locations across the United States.
PICO RIVERA, CALIF. — Lee & Associates has arranged the sale of a restaurant property, located at 9209 Telegraph Road in Pico Rivera. NLA Pico Rivera sold the property to Bellside Property Management for $1.2 million. The built-to-suit property was completed in late December for Little Caesars. Situated on 0.2 acres, the 1,252-square-foot building features a drive-thru. Ryan Barr and Ryan Bennett of Lee & Associates – North San Diego County represented the seller, while Lee & Associates – Riverside represented the buyer in the deal.
PHOENIX — Lee & Associates Arizona has brokered the sales of two industrial assets in Phoenix for a combined total of $13.8 million. In the first deal, TWT Real Estate Investments sold a dock-high distribution building to Layman Properties – East University Drive LLC for $8.5 million, or $63.08 per square foot. Located at 2020 E. University Drive, the facility features 134,375 square feet of space and is occupied by Arizona Wholesale Supply and Iron Mountain. Arizona Wholesale Supply built the facility in 1967 for itself with the opportunity to lease a portion out for income. Andrew Ogan of Lee & Associates Arizona represented the buyer and seller. Wells Fargo Real Estate Capital Markets provided $3 million in financing. In the second transaction, Layman Properties LLC acquired a three-building office and industrial project from One Deer Valley JV LLC for $5.3 million, or $109.85 per square foot. Located at One W. Deer Valley Road, the asset includes a 21,181-square-foot office building and two 13,261-square-foot industrial buildings. At the time of sale, the property was 100 percent leased. Ogan represented the buyer, while Matt Hobaica, also of Lee & Associates Arizona, represented the seller.
FARMERS BRANCH, TEXAS — Lee & Associates has negotiated a 46,104-square-foot industrial lease at 14275 Welch Road in the northern Dallas metro of Farmers Branch. Adam Graham of Lee & Associates represented the tenant, Missouri-based Don Smith & Associates, in the lease negotiations. Barry Stokes of Exeter Property Group represented the landlord, Finlayson Logistic Assets LLC.
CARROLLTON, TEXAS — Lee & Associates has negotiated a 55,232-square-foot industrial lease at 2080 McDaniel Drive in the northern Dallas metro of Carrollton. Nathan Denton of Lee & Associates represented the tenant, Buzzballz, a provider of alcoholic beverages, in the lease negotiations. Gil Stroube and Michael Peinado of Lincoln Property Co. represented the landlord, Prologis.
SALINAS, CALIF. — Lee & Associates – North San Diego County has arranged the sale of a retail property, located on 0.3 acres in Salinas. BEWS Main Street LLC sold the property to Bei-Scott Co. for $2.2 million. 7-Eleven occupies the 2,251-square-foot retail building, which was built in 1987. Ryan Barr and Ryan Bennett of Lee & Associates – North San Diego County represented the seller, while Shoemaker Commercial Real Estate represented the buyer in the deal.
HOUSTON — Lee & Associates has negotiated the sale of a 14,000-square-foot industrial asset located at 6635 Theall Road in Houston. According to LoopNet Inc., the single-tenant property was built in 2017 and features 28-foot clear heights. Robert McGee, Thomas Leger and Chase Cribbs of Lee & Associates represented the seller, Axis Texas Development Group LLC, in the transaction. Clint Hankla, also with Lee & Associates, represented the buyer, CCIRF LLC.
NEW YORK CITY — Lee & Associates has arranged the $11.5 million sale of a 25,473-square-foot development site in the Astoria neighborhood of Queens. Located at 26-24 and 26-26 4th St., the property consists of two lots, which are zoned residential. One of the lots features a 20,000-square-foot warehouse. The properties allow for a total of 67,982 buildable square feet. Alfonso Holloman of Lee & Associates represented the buyer, Bruman Realty, and the undisclosed seller, in the transaction.
