RANDOLPH, N.J. — NAI James Hanson has arranged the sale of an 18,729-square-foot industrial building located at 246 S. Salem St. in Randolph, about 40 miles west of New York City. According to LoopNet Inc., the property was built on 3.4 acres in 1952. Jonathan Kristofich and John Schilp of NAI James Hanson represented the seller, a private estate, and procured the buyer, Salem Enterprises LLC.
TUCSON, ARIZ. — NAI Horizon has arranged the sale of a fully occupied medical building, located at 535 N. Wilmot Road in Tucson. 535 Wilmot Investors, an affiliate of The Schomac Group, sold the property to AP MP, an affiliate of MBRE Health Care, for $11.5 million. Banner Health occupies the 40,936-square-foot medical building on a long-term basis and recently renewed its lease for another 10 years. Justin Lanne and Andrew Sternberg with NAI Horizon’s Tucson represented the seller in transaction.
ARVADA, COLO. — NAI Shames Makovsky has arranged the sale of retail building located at 5805 Independence St. in Arvada. RHB Arvada sold the property to JBM20 for $1.6 million. The building features 1,808 square feet of retail space. Jake Malman and Evan Makovsky of NAI Shames Makovsky represented the buyer in the deal.
DALLAS — NAI Robert Lynn has negotiated a 26,418-square-foot office sublease for Texas-based Veritex Community Bank at 12750 Merit Drive, a newly renovated building in North Dallas. Veritex Bank is expanding its footprint in Dallas, and the new space will accommodate about 150 of the company’s 700 total employees. Amenities at the property include a conference center, fitness center, tenant lounges and a deli. Kent Smith of NAI Robert Lynn and Dan Boyles of NAI Partners’ Houston office represented Veritex Bank in the lease negotiations. The name and representative of the original tenant and landlord were not disclosed.
BALTIMORE — Sunstone Hotel Investors has sold Renaissance Baltimore Harborplace, a Marriott-affiliated, 622-room hotel in downtown Baltimore. The Buccini/Pollin Group acquired the asset for $80 million, or $129,000 per room. The hotel is situated along the Inner Harbor at 2020 E. Pratt St. The hotel features 30,000 square feet of flexible meeting and event space, three food and beverage outlets including a waterfront restaurant called Watertable, a 24-hour fitness center and a business center. This is the 17th Marriott-affiliated hotel in The Buccini/Pollen Group’s portfolio. Mark Elliott, Jay Morrow and Jeff Berkman of Hodges Ward Elliott (HWE) represented the seller in the transaction. Lawrence Britvan of HWE originated an acquisition loan on behalf of the buyer. Details of the financing were not disclosed.
SAN ANTONIO — NAI Partners has negotiated an 11,380-square-foot industrial lease at Isom Business Center, a 175,000-square-foot development in north central San Antonio. The property consists of three buildings that offer 18-foot clear heights and both grade-level and dock-high loading doors. Carlos Marquez and Colten Courtney of NAI Partners represented the tenant, solar products distributor Solwel, in the lease negotiations.
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