NEW YORK CITY — Transwestern has arranged the $14.4 million sale of a 31,000-square-foot warehouse located at 26-25 Fourth St. in the Astoria neighborhood of Queens. Goodwill Industries owns and occupies the building. Stephen Powers, Lindsay Ornstein and Jake Cinti of Transwestern represented Goodwill in the transaction. The buyer was not disclosed.
SANDY, UTAH — Magna Investment and Development has completed the disposition of Icon 9700, a multifamily property located in Sandy, approximately 20 miles southeast of Salt Lake City. Starwood Capital Group acquired the community for an undisclosed price. Constructed in 2018, Icon 9700 features 264 apartments, a resort-inspired pool deck, fitness center, outdoor grilling stations, private garages and a multi-purpose sport court for soccer, basketball and pickleball. At the time of sale, the community was 97 percent occupied. Eli Mills and Patrick Bodnar of CBRE’s Salt Lake multifamily team represented the seller in the transaction.
FAIRFIELD, N.J. — JLL has negotiated two full-building industrial leases totaling 81,400 square feet in the Northern New Jersey city of Fairfield. Logistics firm Best Way Trucking Service Inc. signed a lease for 48,100 square feet, and fragrance supplier Excellentia International inked a deal for 33,300 square feet. Howard Weinberg of JLL represented the respective owners, PAN Realty and Patty Brothers Properties, in both sets of lease negotiations.
EASTON, PA. — Developer J.G. Petrucci Co. has sold a 40,000-square-foot medical office building located at 2401 Northampton St. in the Lehigh Valley city of Easton. Cerminara Architect designed the project, and Iron Hill Construction Management, a subsidiary of J.G. Petrucci, served as the general contractor. The property is leased to Lehigh Valley Health Network and houses primary care, lab testing, orthopedic, imaging and physical therapy service providers.
AVENEL, N.J. — Illinois-based CenterPoint Properties has acquired a 29,366-square-foot industrial building in Avenel, located south of Newark. The building is situated on a 4.3-acre site at 190 Homestead Ave. near the New Jersey Turnpike and Port Elizabeth-Newark. Jordan Avanzato and Marc Duval of JLL brokered the deal. The seller and sales price were not disclosed.
LOCUST GROVE, GA. — Monmouth Real Estate Investment Corp. has purchased a 657,518-square-foot industrial building in Locust Grove for $96.7 million. The Home Depot occupies the facility and has 20 years remaining on its lease. The asset is situated at 3150 Ga. Highway 42, 35 miles southeast of Hartsfield-Jackson Atlanta International Airport and less than one mile from Interstate 75. Monmouth Real Estate notes that the property spans 130 acres and has an opportunity for future development. The seller was not disclosed.
MENOMONEE FALLS, WIS. — California-based Bascom Group and London-based Capital Trust Group have acquired a two-building headquarters property located in Woodland Prime Corporate Park in Menomonee Falls, a northwest suburb of Milwaukee. The purchase price was $100.2 million. The buildings, located on Flint Drive, are home to the naval division of Leonardo DRS. The portfolio includes a recently completed, 372,856-square-foot research and development facility as well as an adjacent 118,620-square-foot office building, which serves as the corporate headquarters for the division. Leonardo DRS is a defense technology company. Workers at the Menomonee Falls facility design, test and produce equipment for the U.S. Navy as well as commercial and international customers. Andy Hess, Bob Flood and Kemp Collings of Founders 3 Real Estate Services represented entities controlled by Weas Development in the disposition of the portfolio. Claudio Sgobba and Christopher Knight of JLL arranged the joint venture partnership and secured a $63.7 million CMBS loan through Citigroup for the acquisition.
PONTOON BEACH, ILL. — Contegra Construction Co. has completed the second warehouse at NorthPoint Development’s Gateway Tradeport in Pontoon Beach near St. Louis. Contegra built the 544,000-square-foot property six months after completing the first warehouse at the 600-acre industrial park. The new building features a clear height of 40 feet, 56 dock doors and parking for 157 trailers. JLL is handling the lease-up. Contegra also made a series of infrastructure improvements to facilitate future development at the site.
SCHERERVILLE, IND. — JLL Capital Markets has brokered the sale of Town Square, a 138,571-square-foot, regional shopping center in Schererville in Northwest Indiana. The sales price was undisclosed. Bed Bath & Beyond, T.J. Maxx, Old Navy and Shoe Carnival are among the tenants. The property was built in 2001. Clinton Mitchell and Amy Sands of JLL represented the seller, Walton Street Capital. Albanese Cormier Holdings purchased the asset.
FARMINGTON HILLS, MICH. — L. Mason Capitani CORFAC International has arranged the sale of the Woodcreek Office Center in Farmington Hills. Located at 31275 Northwestern Highway, the office building spans 60,200 square feet and rises two stories. Built in 1968, it was approximately 85 percent leased at the time of sale. Mason L. Capitani represented the buyer, LREH Michigan LLC. The seller and sales price were undisclosed.