NEW YORK CITY — IAC, a holding company of media and digital assets whose brands include The Daily Beast and Investopedia, has acquired the land on which its 10-story headquarters office at 555 West 18th St. in Manhattan is situated. The sales price was $80 million. Designed by architect Frank Gehry, the building was completed in 2007. Eric Michael Anton and Steven Siegel of Institutional Property Advisors, a division of Marcus & Millichap, brokered the deal. The name of the entity that sold the land was not disclosed.
RANDALLSTOWN, MD. — Klein Enterprises has sold Deer Park Center, a 170,000-square-foot flex office park located at 9631-9637 Liberty Road in Randallstown. Fernau LeBlanc Investment Partners (FLB), a commercial real estate owner and operator based in Bethesda, Md., purchased the four-building campus for an undisclosed price. Bill Prutting, Jay Wellschlager and Craig Childs of JLL represented Klein Enterprises, which has owned the property since 2010, in the transaction. Situated about five miles from I-695 and I-795, Deer Park Center’s tenant roster includes Island Quizine, N’Ferno Performing Arts Center, Center for Social Change Inc. and Greater Baltimore Insurance Agency.
YORKTOWN HEIGHTS, N.Y. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of The Shoppes at Jefferson Valley Mall, a 153,151-square-foot shopping center in Yorktown Heights. Built in 1983, the center is located about 40 miles north of Manhattan on a 12-acre site that is adjacent to Jefferson Valley Mall. Formerly anchored by Sears and now anchored by 24 Hour Fitness, the property was 24 percent leased at the time of sale. Joseph French Jr. and Kodi Traver of IPA represented the undisclosed seller and procured the buyer, a New York-based private investor, in the transaction.
ASHBURN, VA. — GI Partners Real Estate has purchased a data center located at 43915 Devin Shafron Drive in Ashburn, a city in North Virginia known as “Data Center Alley.” According to LoopNet Inc., the facility spans 138,600 square feet. Starwood Capital Group and minority owner and property manager Digital Realty sold the facility to GI Partners for an undisclosed price. CBRE’s Data Center Capital Markets team represented the sellers in the transaction. Built in 2010, the property was fully leased at the time of sale to two undisclosed “creditworthy tenants.” The 98-acre property offers 9 megawatts (MW) of critical power and can be expanded in the future.
NEWNAN AND ELLENWOOD, GA. — CBRE has brokered the sales of two retail strip centers in south metro Atlanta totaling nearly $4.4 million. The properties include Sullivan Towers, a 12,950-square-foot property located at 1065 Sullivan Road in Newnan, and Ellenwood Plaza, a 9,450-square-foot asset located at 222 Fairview Road in Ellenwood. Craig Taylor of CBRE’s Atlanta office represented the sellers, two undisclosed private entities, in each transaction. Local investor James Thomasson purchased Sullivan Towers and United Properties Ventures acquired Ellenwood Plaza. Sullivan Towers was fully leased at the time of sale to tenants including CVS/pharmacy, Carr Eye Care, Touch of India, Kuman and Surge Staffing. Ellenwood Plaza was 95 percent leased to tenants including Metro PCS and Domino’s Pizza.
NEW YORK CITY — New Jersey-based intermediary Cronheim Mortgage has arranged a $47 million loan for the refinancing of Hyatt House New York, a 150-room hotel in Manhattan’s Chelsea neighborhood. Beau Williams of Cronheim’s hospitality capital markets group led a team that arranged the five-year, fixed-rate loan on behalf of the borrower, locally based investment firm Lexin Capital. An undisclosed, New York-based bank provided the debt.
NEW YORK CITY — Golfzon Social, an entertainment concept that centers on golf simulation, will open an 18,000-square-foot center at 11 Hoyt, a 57-story residential development in Brooklyn by Tishman Speyer. The venue will offer 16 hitting bays, screens for watching live sports, a chef-driven menu, craft cocktails and beers and an onsite professional for private lessons. Don Cafero of JLL represented Golfzon Social in its site selection and lease negotiations. Tishman Speyer was self-represented. The opening is scheduled for the fall.
LEE’S SUMMIT, MO. — McCarthy Building Cos. has broken ground on a $52 million expansion and renovation project for Saint Luke’s East Ambulatory Surgery Center in the Kansas City suburb of Lee’s Summit. The center was built in 2006 to meet the growing needs of eastern Jackson County. Located at 120 NE Saint Luke’s Blvd., it is part of Saint Luke’s Health System. The 113,913-square-foot project will create additional space needed to enable offsite medical-related services to move back onto the main East campus. Work includes both the renovation of the existing two-story, 52,000-square-foot ambulatory surgery center and clinical space, as well as building a new 62,000-square-foot third-floor addition above the existing facility. Completion is scheduled for the end of 2024.
CHICAGO — Peak Realty has begun pre-leasing efforts for Sage West Loop, a 196-unit luxury apartment building in Chicago’s West Loop. Tandem Development is the developer for the project, which is located at 1044 W. Van Buren St. Amenities include a fitness center, rooftop terrace, party room, dog run, coworking suites and onsite garage parking. The building is slated for occupancy this summer. Monthly rents start at $1,893, according to the property’s website.
DETROIT — Elia Group has unveiled two new dining concepts, Experience Zuzu and Upstairs Bar. Both are slated to open this July in the company’s 511 Woodward building in downtown Detroit. Inspired by the destinations of Miami and Las Vegas, Experience Zuzu features eclectic Asian cuisine. Menu items include hand-rolled sushi, appetizers, wok-fired specialties and exclusive dishes from the charcoal oven and wood-fired grill. In addition to a full bar, Experience Zuzu will showcase bespoke cocktails, premium bottle service and a selection of sake, champagne and wine. The second floor will feature Upstairs Bar, a luxurious lounge and club serving craft cocktails, small plates and sushi.