WOODHAVEN, MICH. — Marcus & Millichap has brokered the $4.6 million sale of a two-tenant retail property in Woodhaven, a southern suburb of Detroit. The asset is home to Office Depot and Five Below. Ashish Vakhariya, Seth Haron and Darin Gross of Marcus & Millichap represented the undisclosed seller. Dylan Wolf and Clayton Brown of Marcus & Millichap represented the cash buyer, which completed a 1031 exchange.
BATON ROUGE, LA. — Go Store It has opened an 86,680-square-foot self-storage facility at 1683 O’Neal Lane in Baton Rouge. Comprising 550 units, the property features 24-hour video surveillance, electronic gate access, climate control and access to Interstate 12.
RALEIGH, N.C. — Six new tenants have signed leases at The Grove, an office redevelopment project currently underway in Raleigh. The new tenants include Allbridge, BWE, EDSA, RHA Wealth and VetPride Services. The Grove, which is now roughly 30 percent preleased, features 152,000 square feet of office and 16,000 square feet of amenity space across two buildings. Amenities at the property include conference facilities, a 5,000-square-foot gym, indoor pickleball courts, a covered porch, library and café/bar. CBRE|Raleigh’s Investor Leasing Group represented the landlord, Chartwell Property Group, in the leasing negotiations.
CHICAGO — Interra Realty has arranged the sale of a seven-unit apartment building in Chicago’s Old Town neighborhood for $2.2 million. The property, located at 1338 N. LaSalle St., was originally built in the 1880s and recently rehabilitated. Harrison Pinkus of Interra represented the undisclosed seller. Joe Smazal of Interra represented the private buyer, who assumed the debt from the seller.
NEW YORK CITY — Locally based development and investment firm Sage Realty has completed a $53 million renovation project at 767 Third Avenue, a 40-story, 320,000-square-foot building in Manhattan’s Grand Central Business District. The renovation upgraded the lobby and seventh-floor amenity space, which includes a café/bar, lounge, library, boardroom, salon meeting room, catering kitchen and a sculpture garden. FXCollaborative handled the design of the lobby renovation, and Fogarty Finger led the revamp of the amenity floor.
BOOTHWYN, PA. — JLL has brokered the sale of Larkin’s Corner, a 225,214-square-foot retail center located in Boothwyn, located near the Pennsylvania-Delaware border. Acme Grocery and Walmart anchor the property, which was 99 percent leased at the time of sale. Other tenants at the center include McDonald’s, TD Bank and Dollar Tree. Chris Munley, Jim Galbally, Colin Behr, James Graf and Patrick Higgins of JLL represented the seller, Site Centers, in the transaction. The team also procured the undisclosed buyer.
LANGHORNE, PA. — A partnership between regional developer Greek Real Estate Partners and Principal Asset Management has delivered Langhorne Logistics Center, a 210,564-square-foot industrial project located about 25 miles northeast of Philadelphia. The partnership acquired the 19-acre site, which at the time housed two buildings that were constructed in 1980, in 2006. The partnership expanded the first of the two buildings by 60,000 square feet in 2008 and recently demolished the second building to make way for Langhorne Logistics Center. The new facility features a clear height of 40 feet, two drive-in doors, 80 trailer parking stalls and 209 car parking spaces.
PASSAIC, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $2.5 million sale of a 23-unit apartment building located at 60 Dayton St. in the Northern New Jersey community of Passaic. According to LoopNet Inc., the building, which houses a restaurant on the ground floor, rises three stories and was constructed in 1975. Julie Gralla of Kislak represented the seller, an entity doing business as Hobart Dayton Proud Passaic LLC, in the transaction. Gralla also procured the buyer, Bonim Realty LLC.
NEW YORK CITY — A partnership between Tiger Woods, Justin Timberlake, NEXUS Luxury Collection and 8AM Golf have opened a 22,000-square-foot sports and entertainment bar between Bryant Park and Grand Central Station in Manhattan. Dubbed T-Squared Social, the venue offers an array of golf simulators, duckpin bowling and darts, as well as food and drink. ForrestPerkins designed the space, which features 24-foot open ceilings, a 32-foot bar, dining and lounge areas and a private event room.
MIAMI — Black Salmon and The Allen Morris Co. have unveiled plans to develop Highland Park Miami, a $1 billion mixed-use project that will span seven acres and increase the footprint of the Miami Medical District by approximately 10 percent. Plans call for 1,000 residential units designed by Oppenheim Architecture, a 150-room hotel and 500,000 square feet of medical-related office space, along with retail, restaurants, open walkways and greenery. Global architecture firm Arquitectonica is the master planner and designer. Naturalficial, a Miami-based landscape architecture and design practice, spearheaded the landscape design. The developers still need city approval but expect preliminary site clearing for the multi-phase project to begin this year. Construction is slated to begin next year on the medical office and multifamily portions, with an estimated five to seven years of construction in total. The development team says it has been planning the project for the past decade, drawing inspiration from other major medical hubs in the U.S. such as Houston and Minnesota’s Mayo Clinic Health District. “With Highland Park, we’re creating a new center of gravity for the Medical District, with curated, wellness-oriented retail and restaurants; world-class architecture; and best-in-class medical office and residential offerings,” says W. A. …