Net Lease

3-Times-Square-Manhattan

NEW YORK CITY — Cushman & Wakefield has negotiated a 27,667-square-foot office lease at 3 Times Square in Midtown Manhattan. The tenant, Atlanta-based law firm Kilpatrick Townsend & Stockton, will relocate from the W.R. Grace Building to the 28th floor of the 30-story building, which originally opened in 2001 and recently underwent a capital improvement program. Ron Lo Russo, John Cefaly, John Santora, Paige Engeldrum, Lou D’Avanzo, Mike Burgio and Dan Organ of Cushman & Wakefield, along with internal agent Tom Keating, represented the landlord, Rudin, in the lease negotiations. Mark Weiss and Sam Hollis Jr., also with Cushman & Wakefield, represented the tenant, which joins the likes of Touro University, Remy Cointreau and accounting firm Anchin, Block & Anchin

FacebookTwitterLinkedinEmail

EVERETT, WASH. — Matthews Real Estate Investment Services has arranged the $5.9 million sale of a single-tenant property in Everett, approximately 25 miles north of Seattle. 7-Eleven occupies the building, which is situated at 7500 Hardeson Road, on a net-lease basis. Brandon Sontz, Nick Hahn and Chad Kurz of Matthews brokered the transaction. A local developer sold the property to an undisclosed buyer. 

FacebookTwitterLinkedinEmail
Chase_Bakersfield-Calif

BAKERSFIELD, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the $2.9 million sale of a 3,576-square-foot, single-tenant property in Bakersfield, approximately 130 miles north of Los Angeles. Chase Bank occupies the building, which was constructed in 2022 on a 0.9-acre pad, on a triple-net-lease basis. Bill Asher and Jeff Lefko of Hanley represented the seller, a local private investor, in the transaction. Greg Bedell and Lance Mordachini of Progressive Real Estate Partners represented the buyer. The property is situated adjacent to a shopping center that is leased to tenants including In-Shape, PetSmart, Banfield Pet Hospital, Domino’s Pizza, Goodwill and U.S. Bank. 

FacebookTwitterLinkedinEmail
10128-Wadsworth-Pkwy-Westminster-CO

WESTMINSTER, COLO. — CW Real Estate Partners has arranged the sale of a retail property located at 10128 Wadsworth Parkway in Westminster, a northern suburb of Denver. Equitas Development LLC & CAP Cincy LLC acquired the asset from 10108 Wadsworth Parkway LLC for $3.3 million. 7-Eleven occupies the property on a net-lease basis. Chris Wiedenmayer of CW Real Estate Partners represented the seller in the transaction.

FacebookTwitterLinkedinEmail

BOSTON — Ironside Realty has acquired a 3,300-square-foot single-tenant retail property located at 177 State St. in downtown Boston. The building is located within the 1 McKinley Square mixed-use development and is net leased to 7-Eleven. An undisclosed, third-party broker represented the seller, which also requested anonymity, in the transaction. Ironside Realty was self-represented.

FacebookTwitterLinkedinEmail
25455-E-Smoky-Hill-Rd-Aurora-CO

AURORA, COLO. — Marcus & Millichap has arranged the sale of a restaurant property located at 25455 E. Smoky Hill Road in Aurora, a suburb east of Denver. A developer sold the asset to a local all-cash investor in a 1031 exchange for $2.6 million. Starbucks Coffee occupies the 2,155-square-foot property on a net-lease basis. James Rassenfoss and Drew Isaac of Marcus & Millichap’s Denver office represented the seller, while Kyle Malnati at Kentwood Commercial represented the buyer in the deal.

FacebookTwitterLinkedinEmail
8880-S-Rainbow-Blvd-Las-Vegas-NV

LAS VEGAS — SRS Real Estate Partners has brokered the sale of a retail property, located at 8880 S. Rainbow Blvd. in Las Vegas. Situated on 0.77 acres, Conoco occupies the 3,500-square-foot property under a 20-year, absolute triple-net lease with LV Petroleum LLC, a franchisee gas station operator with more than 30 locations. Las Vegas-based Kingsbarn Realty Capital sold the asset to a Las Vegas-based private investor for $7.1 million. Patrick Luther of SRS Capital Markets represented the seller in the deal.

FacebookTwitterLinkedinEmail
Ent-Credit-Union-Greeley-CO

GREELEY, COLO. — Marcus & Millichap has arranged the sale of a 15-year, absolute triple-net ground lease for a Ent Credit Union-occupied property in Greeley, southeast of Fort Collins. A developer sold the asset to an undisclosed buyer for $2.2 million. Drew Isaac and Ian Hicks of Marcus & Millichap’s Denver office represented the seller in the deal. Located at 10th Street Road, Ent Credit Union is part of a mixed-use development that features a Starbucks Coffee, QuikTrip, 177 single-family homes and 189 apartments.

FacebookTwitterLinkedinEmail

GRAND PRAIRIE, TEXAS — Secure Net Lease, a brokerage firm with offices in Dallas and Los Angeles, has negotiated the sale of a retail building in Grand Prairie, located roughly midway between Dallas and Fort Worth. The property is triple-net-leased to Shake Shack. According to LoopNet Inc., the double drive-thru building totals 3,380 square feet. Matthew Scow of Secure Net Lease represented the undisclosed seller in the transaction. Sandi Hunter of Retail Link Associates represented the buyer, which acquired the property via a 1031 exchange.

FacebookTwitterLinkedinEmail
9723-Federal-Dr-Colorado-Springs-CO

COLORADO SPRINGS, COLO. — An Oregon-based 1031 exchange buyer has purchased the ground lease of a restaurant asset located at 9723 Federal Drive in Colorado Springs. An undisclosed developer sold the asset for $5.3 million. A new double-drive-thru Shake Shack occupies the asset on a 15-year absolute triple-net ground lease. The property is adjacent to a 115,000-square-foot Scheels at the intersection of Interstate 5 and Interquest Parkway. Drew Isaac, James Rassenfoss and Ian Hicks of Marcus & Millichap’s Denver office represented the seller in the deal.

FacebookTwitterLinkedinEmail
Newer Posts