Property Type

North-Central-Logistics-Center-Denver-CO

SunCap, Colony Industrial to Develop Three-Building Spec Industrial Project in Denver

by Amy Works December 5, 2019

DENVER — SunCap Property Group, in partnership with Colony Industrial, a subsidiary of Colony Capital, has closed on the land for the development of North Central Logistics Center, a speculative industrial project in Denver. Formerly known as Welby Gardens, the three-building speculative development will offer tenants the opportunity to occupy space ranging from 25,000 square feet to 641,000 square feet. Situated on 33 acres, the project will feature two single-loaded buildings with trucks entering in the rear and a central cross-docked facility. All buildings will feature 32-foot clear heights and ample employee parking. Murray & Stafford will manage construction, which is slated to begin by the end of the year with completion scheduled for early spring 2021. Mitch Zatz, Jason White and Carmon Hicks of JLL represented the land sellers in the transaction and will be handling leasing for the development.

December 5, 2019

Acquisitions California Mixed-Use Multifamily Retail Western

IPA Negotiates Sale of Multifamily, Retail Mixed-Use Asset in Mountain View, California

by Amy Works December 5, 2019

MOUNTAIN VIEW, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of The Village Residences, a mixed-used complex located at San Antonio Road and El Camino Real in Mountain View. A venture between Carmel Partners and Merlone Geier Partners sold the asset for an undisclosed price. The name of the buyer was not released. Philip Saglimbeni, Stanford Jones, Bill Rose and Salvatore Saglimbeni of IPA represented the seller in the deal. Developed in 2013 and situated on 5.5 acres, The Village features 271,779 square feet of net rentable multifamily space spread across 330 apartment units and 43,206 square feet of retail space divided into 16 units. Apartments offer floor-to-ceiling windows, moveable kitchen islands and full-sized washers and dryers. On-site community amenities include an Atrium pool retreat with a fireside spa, canopied entertainment bar, grilling stations and lounge seating.

December 5, 2019

Acquisitions California Industrial Office Western

Hamra Properties Acquires 154,627 SF Anaheim Hills Business Center in California for $21.3M

by Amy Works December 5, 2019

ANAHEIM, CALIF. — Hamra Properties has purchased Anaheim Hills Business Center, an industrial and office business park located at 5100-5150 E. La Palma Ave. in Anaheim. Seligman Group sold the asset for $21.3 million. Jeffrey Cole, Jeff Chiate, Ed Hernandez, Mike Adey and Nico Napolitano of Cushman & Wakefield’s Irvine, Calif., office represented the seller, while Rick Ellison and Randy Ellison of Cushman & Wakefield served as market advisors. Built in 1988, the five-building campus features 154,627 square feet of industrial and office space. The property includes grade-level doors, landscaping with palm trees and abundant parking at a ratio of three stalls per 1,000 square feet. The buildings range in size from 19,000 square feet to 49,000 square feet, accommodating tenants as small as 700 square feet.

December 5, 2019

Acquisitions Colorado Industrial Western

NKF Arranges $15.5M Sale of Industrial Asset in Boulder, Colorado

by Amy Works December 5, 2019

BOULDER, COLO. — Newmark Knight Frank has brokered the sale of an industrial building located at 5360 Sterling Drive in Boulder. Alger Boulder I LLC acquired the property from Ivy 5360 Sterling Property LLC for $15.5 million. The property features 38,263 square feet of industrial space. John Jugl of Newmark Knight Frank Colorado represented the seller in the deal.

December 5, 2019

Acquisitions California Retail Western

Colliers Brokers $3.7M Sale of Multi-Tenant Retail Building in Oceanside

by Amy Works December 5, 2019

OCEANSIDE, CALIF. — Colliers International San Diego Region has arranged the sale of a retail asset located at 417-431 S. Coast Highway in Oceanside. Fullerton Square sold the property to an undisclosed buyer for $3.7 million. Bill Shrader and Luke Holler of Colliers represented the seller and buyer in the deal. At the time of sale, the 12,000-square-foot building was fully occupied by nine tenants with existing lease terms.

December 5, 2019

Acquisitions Connecticut Hospitality Northeast

Noble Investment Group Acquires 135-Room New Haven Hotel at Yale University

by Alex Patton December 5, 2019

NEW HAVEN, CT. — Noble Investment Group has acquired the 135-room New Haven Hotel at Yale University. Noble plans to reposition the hotel to capitalize on the area, which includes Yale University and the Yale-New Haven Hospital, the primary teaching hospital for the Yale School of Medicine and the Yale School of Nursing. The hotel features a business center and fitness center as well as 1,000 square feet of flexible meeting space. The sales price was undisclosed.

December 5, 2019

Acquisitions Industrial New Jersey Northeast

JLL Brokers Sale of 50,993 SF Industrial Building in North Brunswick, New Jersey

by Alex Patton December 5, 2019

NORTH BRUNSWICK, N.J. — JLL has brokered the sale of a 50,993-square-foot industrial building in North Brunswick, located approximately 30 miles southwest of New York City. Situated at 1200 Airport Road, the building was completed in 1987 and features 19-foot clear heights, seven exterior docks, three drive-in doors and parking for 86 cars. The building was fully leased to three tenants at the time of sale. Gary Politi and Joel Lubin of JLL represented the undisclosed seller in the transaction. The sales price was also undisclosed. The buyer was VK Industrial V LP, a partnership between Venture One Real Estate and Kovitz Investment Group.

December 5, 2019

Leasing Activity New York Northeast Office

NKF Negotiates 20,378 Office Lease at Club Row Building in Manhattan

by Alex Patton December 5, 2019

NEW YORK CITY — Newmark Knight Frank (NKF) has negotiated a 20,378-square-foot office lease for Advantage Sales & Marketing at the Club Row Building in Manhattan. The company will consolidate its two former locations, located at 360 Lexington Avenue and 1500 Broadway, into a 15,093-square-foot space on the 14th floor and a 5,285-square-foot space on the ninth floor. Situated at 28 West 44th Street, the 372,000-square-foot Club Row Building features onsite shops and services including Japanese-Peruvian restaurant Sen Sakana, Dunkin’ Donuts, a barber, tailor, newsstand, post office and a bicycle room. Andrew Sachs, Tim Gibson, Josh Gosin and Matthew Augarten of NKF represented the landlord, APF Properties, in the lease negotiations. Peter Trivelas and Jason Ward of Cushman & Wakefield represented Advantage Sales & Marketing.

December 5, 2019

Leasing Activity New York Northeast Office

Northwell Health Signs 14,871 Office Lease on Long Island

by Alex Patton December 5, 2019

GREAT RIVER, N.Y. — Nonprofit healthcare provider Northwell Health has signed a 14,871-square-foot office lease at Sunrise Business Center in the Long Island city of Great River. Northwell Health will move into Building 300 at Sunrise Business Center, one of four buildings in the 389,490-square-foot complex. The campus features a full-service café and a 5,000-square-foot conference facility. Tenants include University Support Services, Vitamin World and St. Joseph’s College. The Feil Organization represented the landlord in the lease negotiations.

December 5, 2019

Leasing Activity New Jersey Northeast Retail

Basser Kaufman Secures 2,380 SF Retail Lease for Profile by Sanford in Marlboro, New Jersey

by Alex Patton December 5, 2019

MARLBORO, N.J. — Basser Kaufman has secured a 10-year, 2,380-square-foot retail lease for health and weight loss company Profile by Sanford in Basser’s Marlboro Plaza, located approximately 30 miles east of Trenton. The 303,503-square-foot shopping center has recently undergone an extensive renovation, including a new façade, landscaping and updated parking area. Major tenants include Hobby Lobby, T.J. Maxx, Kohl’s and PetSmart. Basser Kaufman was self-represented the lease negotiations. Marc Shein represented Profile by Sanford, also on an internal basis.

December 5, 2019

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