Property Type

Cushman & Wakefield Arranges Sale of 541-Unit Self-Storage Facility on Long Island

by Alex Patton April 13, 2020

DEER PARK, N.Y. — Cushman & Wakefield has arranged the sale of a 541-unit self-storage property in Deer Park. Located at 541 Acorn St. on Long Island. The 58,500-square-foot facility features 10 one- and two-story buildings that were completed between 2000 and 2003. The property was 83 percent occupied at the time of sale. Mike Mele, Luke Eliott, Robert Bloch and Noah Obuchowski of Cushman & Wakefield represented the seller, 4 Storage LLC, in the transaction. The buyer was an undisclosed private equity group. The sales price was undisclosed.

April 13, 2020

Acquisitions Connecticut Industrial Northeast Office

G&G Investment Group Acquires 33,270 SF Industrial, Office Building in Branford, Connecticut

by Alex Patton April 13, 2020

BRANFORD, CONN. — G&G Investment Group, a New Haven-based investment firm, has acquired a 33,270-square-foot industrial and office building in Branford, an eastern suburb of New Haven. The sales price was $1.7 million. Located at 32 Commerce Drive, the building comprises approximately 10,000 square feet of office space and a 24,000-square-foot warehouse. The property also features a 16,576-square-foot covered loading and vehicle parking area which can be enclosed for additional warehouse space. Bill Clark of The Geenty Group represented G&G Investment Group in the transaction. Frontier Communications was the seller.

April 13, 2020

Acquisitions Massachusetts Northeast Retail

Marcus & Millichap Brokers $9M Sale of Walgreens-Occupied Retail Property in Lowell, Massachusetts

by Alex Patton April 13, 2020

LOWELL, MASS. — Marcus & Millichap has brokered the $9 million sale of a retail property in Lowell, located approximately 25 miles northwest of Boston. The 14,820-square-foot property was fully leased to Walgreens at the time of sale. Glen Kunofsky, Josh Kanter and Anthony D’Ambrosia of Marcus & Millichap represented the seller, a West Coast-based private investor. Adam Friedlander of Marcus & Millichap represented the buyer, a New York City-based private investor.

April 13, 2020

Acquisitions Connecticut Industrial Northeast

Gofsco LLC Sells Industrial Development Site in Old Lyme, Connecticut

by Alex Patton April 13, 2020

OLD LYME, CONN. — Gofsco LLC has sold nine acres zoned for light industrial development in Old Lyme, located approximately 40 miles southeast of Hartford. The site located at 50 Hatchetts Hill Road was vacant at the time of sale and offers convenient access to Interstate 95. Ron Lyman of Lyman Real Estate represented Gofsco LLC in the transaction. A private investor purchased the property for an undisclosed price.

April 13, 2020

Acquisitions Multifamily Texas

BSR REIT Sells Three Multifamily Assets in Longview, Texas for $52.5M

by Taylor Williams April 13, 2020

LONGVIEW, TEXAS — BSR REIT has sold Summer Brook, Summer Green I and Summer Green II, three multifamily assets located in Longview, about 100 miles east of Dallas. The sales price was $52.5 million. Summer Brook was built in 1997, totals 208 units and offers a pool, fitness center, basketball court, dog park and a business center. Summer Green I and II were both built in 1984, total 424 units combined and also feature a pool, fitness center and business center. The buyer(s) was not disclosed.

April 13, 2020

Acquisitions Industrial Lee & Associates Texas

Lee & Associates Brokers Sale of 100,000 SF Industrial Flex Property in Houston

by Taylor Williams April 13, 2020

HOUSTON — Lee & Associates has brokered the sale of a 100,000-square-foot industrial flex property situated on 6.2 acres at 8201 and 8211 La Porte Freeway in Houston. Trey Erwin, Justin Tunnell and Justin Cole of Lee & Associates represented the seller, Duma Land LLC, in the transaction. Jim Autreuy of Moody Rambin represented the buyer, Ivest LP. The property comprises two buildings with 43,000 square feet of office space, 14 dock-high doors, three ramps and one recessed dock with cross-dock capabilities.

April 13, 2020

Leasing Activity Office Texas

Worth & Associates Negotiates 42,227 SF Office Lease in San Antonio

by Taylor Williams April 13, 2020

SAN ANTONIO — Locally based developer Worth & Associates has negotiated a 42,227-square-foot office lease at its Austin Highway Business Center to Goodwill San Antonio Business Services. Goodwill will use the space to expand its call center operations. Jeff Miller and Meredith Sheeder of JLL represented Goodwill, which took occupancy in late March, in the lease negotiations.

April 13, 2020

Leasing Activity Retail Texas

Security National Bank of Texas to Open 4,146 SF Branch at The Union Dallas

by Taylor Williams April 13, 2020

DALLAS — Security National Bank of Texas will open a 4,146-square-foot branch at 2300 N. Field St. to become the exclusive banking center of The Union Dallas, a mixed-use destination by RED Development. Services will include personal, business and private banking, treasury management, trust services, investment management and mortgages. The opening is slated for some time this spring.

April 13, 2020

Acquisitions Idaho Multifamily Western

Berkadia Arranges Sale of Central Pointe Multifamily Property in Boise

by Amy Works April 13, 2020

BOISE — Berkadia has facilitated the sale of Central Pointe, a garden-style apartment property in Boise. Monarch Investment and Management Group sold the community to an undisclosed entity. The acquisition price was not released. Located at 1334 N. Liberty St., Central Pointe features a mix of one-, two- and three-bedroom floor plans with private balconies or patios. Community amenities include a fitness center, pool, playground, clubhouse, sundeck, laundry facilities, covered parking, an outdoor area with grilling stations, and a dog park. Kenny Dudunakis, David Sorensen and Ben Johnson of Berkadia’s Seattle office, along with Alex Blagojevich of Berkadia’s Chicago office and Michael Sullivan of the firm’s Kansas City office, represented the seller in the deal.

April 13, 2020

Acquisitions California Industrial Western

Rexford Industrial Buys San Gabriel Valley Industrial Property for $15.5M

by Amy Works April 13, 2020

AZUSA, CALIF. — Rexford Industrial has completed the purchase of an industrial asset located at 720-750 N. Vernon Ave. in Azusa, within the Los Angeles – San Gabriel Valley market. An undisclosed seller sold the property for $15.5 million, or $59 per land square foot. The property was acquired through a sale-leaseback transaction underwritten on a land-value basis. The 71,692-square-foot property is fully leased on a long-term basis. The buyer plans to collect cash flow from the in-place lease and, upon lease expiration, to redevelop the property by constructing a new, larger Class A warehouse/distribution facility.

April 13, 2020

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