Property Type

CBRE Brokers $61.5M Sale of Industrial Redevelopment Site in Vernon, California

by Amy Works September 10, 2024

VERNON, CALIF. — CBRE has arranged the sale of a 7-acre industrial redevelopment site located at 1925 and 1936 E. Vernon Ave. in Vernon. A confidential buyer acquired the asset from The Alavern Co. for $61.5 million. The property currently houses a five-story, 368,500-square-foot building. Barbara Perrier, Eric Cox, Jeff Stephens, Jack Mergenthaler and John Hillman of CBRE represented the seller, while Jack Cline, Evan Jurgensen and Andy Gage of Lee & Associates represented the buyer in transaction.

September 10, 2024

Acquisitions Midwest Minnesota Office

MAG Capital Partners Buys 44,298 SF Headquarters Building in Eagan, Minnesota

by Kristin Harlow September 10, 2024

EAGAN, MINN. — In a sale-leaseback transaction, MAG Capital Partners has acquired a 44,298-square-foot headquarters building in the Minneapolis suburb of Eagan. The property at 1300 Corporate Center Curve serves as the corporate headquarters of Asset Marketing Services, a direct-to-consumer retailer of collective coins. The building was constructed in 1999 and renovated in 2016. Daniel Macks and Phil DiGennaro of STREAM Capital Partners advised the seller. Led by principals Dax Mitchell and Andrew Gi, Dallas-based MAG Capital Partners invests in industrial real estate and operating companies.

September 10, 2024

Development Michigan Midwest Office

Farbman Group Completes Atrium Renovation at New Center One Office Building in Detroit

by Kristin Harlow September 10, 2024

DETROIT — Farbman Group has completed an atrium renovation at New Center One, a 600,000-square-foot office building in Detroit’s New Center. The renovations include new furniture, faux grass and live plants installation, upgraded LED lighting and new paint for the elevator façade. Michelle Davis of Davis & Davis managed and executed the design of the new atrium. The space will serve as a lunch and meeting spot for tenants.

September 10, 2024

Acquisitions Colorado Multifamily Western

S2 Capital Acquires 201-Unit Dartmouth Woods Multifamily Community Near Denver

by Amy Works September 10, 2024

SOUTH LAKEWOOD, COLO. — S2 Capital has purchased Dartmouth Woods, a garden-style apartment property in South Lakewood, a suburb of Denver, for an undisclosed price. Located at 10025 W. Dartmouth Ave., Dartmouth Woods offers 201 apartments in two- and three-story buildings. The buyer will implement interior renovations, including stainless steel appliances, modern lighting, new flooring and updated cabinets, along with extensive renovations to the exterior and amenities space. Dartmouth Woods was built in 1990.

September 10, 2024

Strongbox-Lamb-Industrial-Center-North-Las-Vegas-NV

Acquisitions Industrial Nevada Western

NAI Excel Arranges $16.5M Sale of Strongbox Lamb Industrial Center in North Las Vegas

by Amy Works September 10, 2024

NORTH LAS VEGAS, NEV. — NAI Excel has directed the sale of Strongbox Lamb Industrial Center in North Las Vegas. Strongbox Development sold the asset to a national cabinetry manufacturer for $16.5 million. The undisclosed buyer plans to occupy the 89,284-square-foot, Class A warehouse as its primary manufacturing and distribution hub on the West Coast. Situated on 4.5 acres, the property was completed in August 2024. Bryan Houser of NAI Excel represented the seller, while Sean Zaher of CBRE represented the buyer in the transaction.

September 10, 2024

Acquisitions Arizona Industrial Western

Rectangle Investment Management Buys 39,588 SF Industrial Building in Phoenix

by Amy Works September 10, 2024

PHOENIX — Denver-based Rectangle Investment Management, the investment management affiliate of Comunal Properties, has acquired an industrial building located at 20 S. 69th Ave. in Phoenix. Terms of the transaction were not released. Action Gypsum Supply, a key regional supplier of building materials, fully occupies the 39,588-square-foot property. The building features 28-foot clear heights, a secure truck court, dock-high and drive-in loading doors and a 1.29/1,000 parking ratio. Phil Haenel, Foster Bundy and Katie Repine of Cushman & Wakefield represented the undisclosed seller in the deal.

September 10, 2024

Development Massachusetts Multifamily Northeast Seniors Housing

WinnCos. Breaks Ground on $51M Seniors Housing Redevelopment Project in Worcester, Massachusetts

by Taylor Williams September 10, 2024

WORCESTER, MASS. — WinnCos. has broken ground on Residences on Lincoln Square, a $51 million seniors housing redevelopment project in the central Massachusetts city of Worcester. The project will transform the historic Worcester Boys Club property, which was originally built in 1930 and has been vacant since 2006, into an 80-unit, age- and rent-restricted complex. The existing building will be redeveloped to house 16 units, and a new building will be constructed to house the remaining 64 units. Residences will come in studio, one- and two-bedroom units, with 11 units to be set aside for residents with disabilities. Full completion of the project is slated for 2026. F.W. Madigan Co. Inc. is serving as the general contractor, and Maugel DeStefano Architects is the project architect.

September 10, 2024

Acquisitions Multifamily New York Northeast

Marcus & Millichap Brokers $6M Sale of Brooklyn Apartment Building

by Taylor Williams September 10, 2024

NEW YORK CITY — Marcus & Millichap has brokered the $6 million sale of a 48-unit apartment building in Brooklyn’s Bensonhurst neighborhood. The six-story building at 7920 19th Ave., which according to LoopNet Inc. was originally constructed in 1931, houses one- and two-bedroom units. John Brennan and Bryan Ellis of Marcus & Millichap represented the seller and procured the buyer, both of which were local limited liability companies that requested anonymity, in the transaction.

September 10, 2024

Leasing Activity New Jersey Northeast Office

Hain Celestial Signs 40,000 SF Office Headquarters Lease in Hoboken

by Taylor Williams September 10, 2024

HOBOKEN, N.J. — Hain Celestial has signed a 40,000-square-foot office headquarters lease in Hoboken. The provider of healthy foods and personal care services will occupy the entire 12th floor at Waterfront Corporate Center III, a 512,000-square-foot building owned by New York City-based SJP Properties. No third-party brokers were involved in the lease negotiations.

September 10, 2024

Acquisitions Industrial New Jersey Northeast

CBRE Negotiates Sale of 8,000 SF Industrial Outdoor Storage Facility in Sayreville, New Jersey

by Taylor Williams September 10, 2024

SAYREVILLE, N.J. — CBRE has negotiated the sale of an 8,000-square-foot industrial outdoor storage facility in Sayreville, about 35 miles south of Manhattan. The site spans 1.3 acres and sold for $4 million. Mark Silverman, Elli Klapper, Liam McGregor and Jeremy Wernick of CBRE represented the buyer, Dallas-based Dalfen Industrial, in the off-market transaction. The seller was Florida-based Highpoint Enterprises.

September 10, 2024

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