HAPPAUGE, N.Y. — Stalco Construction has completed work on the U.S. headquarters of Genometrica Research Inc., which designs and makes molecular biology and DNA sequencing equipment, in Happauge. Crews have updated the office space into a state-of-the-art research, product development and engineering laboratory. The 4,500-square-foot project included the renovation of a laboratory, 10 private offices, an administrative area and boardroom.
ORLANDO, FLA. — The 252-unit Lexington Park Apartments, located on Westgate Drive in Orlando, has sold for $15.9 million. Cole Whitaker, Hal Warren and Jason Stanton of Hendricks & Partners represented the seller, an institutional investor, in the transaction.
NEW YORK CITY — Madison Realty Capital has taken ownership of 224 Richmond Terrace, a 60,000-square-foot apartment and retail property in Staten Island. Madison previously purchased the non performing first mortgage for $8.4 million from Bank of New York Mellon and has now taken title by completing foreclosure proceedings. The 40-unit property, known as “The View,” stands 11 stories tall and features views of the Manhattan skyline and Statue of Liberty. The original owner planned to develop the property as a condominium, but defaulted on its construction financing in 2009. The original lender subsequently filed a foreclosure action. Today, construction is nearly complete with only some interior installations and cosmetic detailing remain. Casandra Properties is the leasing agent for the residential and retail portions of the property.
NEW YORK CITY — Marcus & Millichap has arranged the $3.2 million sale of 334 East 6th St., an 11-unit mixed-use property in New York City. Peter Von Der Ahe of Marucs & Millichap represented the seller, a private investor. Von Der Ahe, Joe Koicim and David Loyd, also of Marcus & Millichap represented the buyer, a private investor.
CUMMING, GA. —Atlanta-based Bull Realty has arranged the $2 million sale of the 32,463-square-foot The Village at Creekstone, a mixed-use development located on Peachtree Parkway in Cumming. The property includes two retail buildings totaling 27,190 square feet, a two-story office condominium totaling 5,273 square feet, as well as three 2,500-square-foot office pad sites, one 4,581-square-foot office pad site and a .65-acre retail outparcel. Rob Whitmire and Theresa Johnson of Bull Realty represented the seller, a super regional bank, in the transaction. John Harrison, also of Bull Realty, represented the buyer, Alpharetta, Ga.-based Penn Hodge LLC.
ST. LOUIS, MO.— Lakeside Property LLC, a private investment group, has acquired a 23,500-square-foot, mixed-use building in St. Louis for more than $2 million. BankLiberty was the seller of the building, which is located at 11401 Olive Blvd. The multi-tenant building is anchored by ground floor tenants Enterprise Bank and an insurance firm. The second floor of the building, totaling approximately 12,500 square feet, is vacant but fully furnished. Champion Bank developed the building in 2008. It occupied approximately 20,000 square feet of space until April 2010 when the bank’s assets, including this piece of commercial real estate, were taken over by the Federal Deposit Insurance Corp. BankLiberty was assigned the assets. David Biales and David Steinbach of Jones Lang LaSalle represented BankLiberty in the transaction.
MIAMI — Swire Properties has broken ground on the $1.05 billion Brickell CitiCentre, a 5.4 million-square-foot, mixed-use development located in downtown Miami. The development will include a luxury shopping center, two condominium residences, a hotel, a wellness center, apartments and two office towers. The first phase, which includes all elements except for one office tower, is slated for completion in 2015, with full completion expected in 2018. The project will create approximately 1,000 jobs during construction.
FORT WORTH — The Laundry, a dry-clean drop-off station owned and operated by Fort Worth businesswoman Marilyn Bevan, has plans to open a 963-square-foot location at West 7th, a mixed-use development located at the southeast corner of University Drive and West 7th Street in Fort Worth. The facility will also house a tailoring shop that will be managed by Reata Alterations owner Brian Overstreet. Frank Bullock and Carey Shagets of SRS Real Estate Partners represented the landlord, Cypress Equities, in the lease transaction. Rodger Chieffalo of Chieffalo Realty represented the tenant.
PLYMOUTH, MICH. — Grand Sawa has purchased a 526,540-square-foot office and industrial building, located at 909 Sheldon Road in Plymouth. John Lominack and Gary Glotzhober of Colliers International represented the buyer in the transaction. He also represented the seller, CW Capital Asset Management. Colliers has also been retained to lease the facility, which sits on 34 acres.
NEW YORK CITY — 5 East 51st St. LLC has purchased a six-story mixed-use building, located across from New York City's St. Patrick's Cathedral on Fifth Ave., for $12.6 million. The 14,000-square-foot property includes 14 apartment units and 5,000 square feet of retail space. The sale also includes 21,000 square feet of air rights. Peter Carillo of Eastern Consolidated represented the seller in the transaction. He also produced the buyer.
