SALISBURY, MD. — KLNB has brokered the $14.2 million sale of College Square Shopping Center in Salisbury. Tenants at the center, which was 97 percent leased at the time of sale, include Dollar Tree, BioLife Plasma, Ace Hardware and Planet Fitness. Chris Burnham, Vito Lupo, Andy Stape and Jake Furnary of KLNB’s Retail Capital Markets team arranged the sale on behalf of the seller, Rockford Capital Partners, which has owned the property since 2015. The buyer was not disclosed.
PORT ARTHUR, TEXAS — LandPark Advisors, a Houston-based investment and management firm, has acquired Park Central Self Storage, a 312-unit facility in Port Arthur, located south of Beaumont along the Texas Gulf Coast. The facility sits on 3.8 acres and totals 48,430 net rentable square feet. LandPark, which acquired the asset in partnership with Sunset Capital, will operate the property under its Right Move Storage brand. The seller and sales price were not disclosed.
NAVARRE, FLA. — CBRE has arranged a $12.9 million loan for the refinancing of Wynnehaven Plaza, a 64,995-square-foot shopping center located at 10040 Navarre Parkway in Navarre. A 48,387-square-foot Publix grocery store anchors the center, which was completed earlier this year. Seven other tenants occupy the fully leased property, including a coffee shop, primary care clinic, ice cream parlor and a nail salon. Richard Henry, Mike Ryan, Brian Linnihan and Taylor Crowder of CBRE secured the financing on behalf of the borrower, Atlanta-based Branch Properties, through 40|86 Mortgage Capital.
NEW BRAUNFELS, TEXAS — Marcus & Millichap has brokered the sale of TEPCO Storage, a 45-unit self-storage facility in New Braunfels, located on the northeastern outskirts of San Antonio. The site spans 1.4 acres. Jon Danklefs of Marcus & Millichap represented the seller in the transaction. Sean Delaney, also with Marcus & Millichap, represented the buyer. Both parties were limited liability companies that requested anonymity.
THE WOODLANDS, TEXAS — Locally based brokerage firm Newcor Commercial Real Estate has arranged the sale of a 10,000-square-foot industrial building located north of Houston in The Woodlands. Ryan Dierker and Rob Banzhaf of Newcor represented the seller, Black Forest Ventures, in the transaction. O.J. Bobek of Bobek Realty Group represented the buyer, M. Libman Investment LLC. The single-tenant building was fully leased at the time of sale.
NEW YORK CITY — A joint venture between Turnbridge Equities and Dune Real Estate Partners is nearing completion of Bronx Logistics Center, a 1.3 million-square-foot industrial project on the borough’s south side. The site at 980 E. 149th St. is an assemblage of five parcels and spans 14.2 acres. The facility will offer a clear height of 32 feet and more than 1,500 parking spaces. The development team expects to complete the project by the end of the year.
NEW YORK CITY — Greystone has provided an $18.3 million Fannie Mae loan for the refinancing of a 154-unit multifamily property located at 400 Herkimer St. in the Bedford-Stuyvesant neighborhood of Brooklyn. The property was built on 18 acres in 1965 and offers studio, one-, two- and three-bedroom units. Anthony Cristi of Greystone originated the 10-year loan, which carries a fixed interest rate and a 30-year amortization schedule. The borrower was not disclosed.
COLONIE, N.Y. — Axiom Capital Corp., a New York-based commercial finance and advisory firm, has arranged an $8.6 million loan for the refinancing of a 107,245-square-foot retail property in Colonie, located just outside of Albany. The property consists of nine buildings, some of which contain office space, on a 15.8-acre site. The nonrecourse loan was structured with a fixed interest rate and a five-year term. The borrower and direct lender were not disclosed.
PROVIDENCE, R.I. — JLL has brokered the sale of a 30,000-square-foot medical office building in Providence. Built in 2006, the building was 96 percent leased at the time of sale to tenants offering urgent care, primary care, imaging, pediatric care, physical therapy and pathology services. A partnership between Sendero Capital and Angelo Gordon acquired the asset from an undisclosed seller. Brannan Knott, Mindy Berman and Anthony Sardo of JLL brokered the deal.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $5.8 million sale of a 25-unit affordable housing complex located at 201 W. 148th St. in Harlem. Information on specific income restrictions was not disclosed. Victor Sozio, Shimon Shkury and Michael Tortorici of Ariel Property Advisors represented the seller in the transaction. Additional terms of sale were not disclosed.
