SANDY SPRINGS, GA. — Herndon, Va.-based SugarOak Holdings has purchased Roswell North, a 58,529-square-foot office building located at 8010 Roswell Road in Sandy Springs, a northern suburb of Atlanta. SugarOak purchased the asset from an unnamed private investor for $5.4 million. Built in 1986, the three-story office building was 94 percent leased at the time of sale. Kevin Markwordt and Todd Syprett of Transwestern represented the seller in the transaction.
LOUISVILLE, KY. — Cushman & Wakefield will continue to operate in the Louisville metro and surrounding areas through its Alliance partnership with Commercial Kentucky Inc. The Louisville-based commercial real estate brokerage firm was founded in 1973 as Scherer/Casper & Associates. Commercial Kentucky first began its relationship with Cushman & Wakefield in 1981 and expanded its capabilities to include market research, property management and appraisal services, in addition to office, industrial, retail and investment brokerage services. Earlier this year, Cushman & Wakefield entered into an agreement to sell the firm and merge with DTZ. The merger closed September 1, creating a global commercial real estate services provider with 43,000 employees across 60 countries. The merger impacted many major markets where both firms have a presence and client relationships. “We look forward to continuing our relationship with the new Cushman & Wakefield,” said Phil Scherer, president of Commercial Kentucky. “We have the same team dedicated to providing superior services and insight to our clients, backed by decades of local experience and market knowledge. As a Cushman & Wakefield Alliance partner, our capabilities and opportunities will only continue to grow.”
CERRITOS, CALIF. — A private exchange buyer has acquired Carmenita Corporate Plaza, a 68,779-square-foot office building in Cerritos, for an undisclosed sum. The plaza is located at 13340 183rd St. It is fully leased to Infinity Property & Casualty Corporation. CBRE’s Kevin Shannon, Paul Jones and Blake Bokosky represented the seller, an affiliate of Cohen Asset Management.
DALLAS — CBRE Strategic Partners U.S. Value 7 has acquired Galleria Towers, a 1.4 million-square-foot, three-building office complex in Dallas. Galleria Towers is located at 13355, 13455 and 13155 Noel Road, adjacent to the Galleria Mall. The property offers freeway access at the intersection of the North Dallas Tollway and LBJ Freeway. CBRE Global Investors plans to invest in the property by adding conference facilities, a fitness center and tenant amenities. Gary Carr, John Alvarado, Eric Mackey and Robert Hill with CBRE’s Dallas office investment group represented the seller.
AUSTIN, TEXAS — Marcus & Millichap has arranged the sale of Sheahan Self Storage, a 32,621-square-foot self-storage, office warehouse and retail property located in Austin. Justin Miller and Dave Knobler of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a partnership. Knobler and Miller secured the buyer, a limited liability company, as well. Sheahan Self Storage is located at 11712 N. Lamar Blvd. in Austin.
HOUSTON — NAI Investment Fund I LLC has acquired an office building located at 12600 Featherwood Drive in Houston. The 74,753-square-foot, Class B property is 81 percent occupied. NAI Partners has been retained to provide both property management and leasing services on behalf of the owner, NAI Investment Fund I LLC. The seller, Fort Worth-based Klabzuba Realty, was represented by Marty Hogan off HFF. Rob Evans of NAI Investment Management LLC negotiated the acquisition. Amegy Bank of Texas is the lender.
NEW YORK CITY — GFI Realty Services has arranged a $150.6 million floating-rate loan on behalf of an office building located at 330 W. 42nd St. in Manhattan. Constructed in 1931, the 33-story building offers 590,000 square feet of office space. The building has occupancy of 90 percent. Daniel Lerer and Will Watkins of GFI procured the loan from Natixis, an investment bank.
SANDY SPRINGS, GA. — MidCity Real Estate Partners and Crocker Partners have formed a joint venture to co-develop NorthPlace, a 3.7-acre office campus located in Atlanta’s Central Perimeter office submarket at Barfield Road and Mount Vernon Highway in Sandy Springs. The campus will be visible from GA 400 and will be situated one block from Mercedes-Benz USA’s new headquarters and two blocks from the Sandy Springs MARTA station. Plans for NorthPlace include two towers spanning 250,000 square feet and 100,000 square feet. The site can also house build-to-suit opportunities ranging from 20,000 to 100,000 square feet for companies wanting to own their own property. MidCity will sell and lease the campus, and Roger White of MidCity will oversee day-to-day construction operations. Crocker Partners owns the site, and Crocker and MidCity have retained Warner Summers as the base building architect. In addition to office use, the site is also zoned for ground-floor retail space.
STAMFORD, CONN. — ClearRock Properties, Gottesman Real Estate Partners and Mountain Development Corp. have acquired a three-building commercial portfolio, located at 700, 850 and 860 Canal St. in Stamford, for an undisclosed price. Guggenheim Partners provided an 11-year, fixed-rate loan for the acquisition. Current tenants of the 250,000-square-foot portfolio include United States Beverage, Sustainable America, Red Thread, Unger Publishing, Monjasa, Arccos Golf, KFL Capital Partners, Hildene Capital Management, Harbor Square Capital Management and Peninsula Petroleum. The name of the seller was not released.
NEW YORK CITY — Cushman & Wakefield has arranged the sale of a property located at 206-212 Wadsworth Ave. in Manhattan’s Washington Heights. Caerus Group acquired the property for $8 million in an all-cash transaction. The buyer plans to construct a new development on the site, which offers 97,422 square feet of buildable space. The previous owners, Wadsworth Avenue Baptist Church Inc., will occupy a condominium at the new development, which will replace the existing structure. Robert Shapiro of Cushman & Wakefield handled the transaction.
