Property Type

Capstone Negotiates Sale of 304-Unit Apartment Complex in Columbia

by Alex Tostado October 28, 2019

COLUMBIA, S.C. — Capstone Apartment has negotiated the sale of Hunter’s Way, a 304-unit apartment complex in Columbia. The garden-style property offers one-, two- and three-bedroom floor plans spanning 38 two-story buildings. The community was 92 percent occupied at the time of sale. Communal amenities include a swimming pool, playground and clubhouse, as well as laundry facilities in each building. The buyer, GLP Investments, plans to rebrand the community and implement a multimillion-dollar renovation. Ron Corrao, Alex McDermott, Austin Green, and Brian Ford of Capstone represented the seller, Rivercity Ventures, in the transaction. The sales price was not disclosed.

October 28, 2019

Acquisitions Georgia Retail Southeast

Halpern Enterprises Acquires 133,310 SF Shopping Center in North Georgia

by Alex Tostado October 28, 2019

CALHOUN, GA. — Halpern Enterprises has acquired Indian Hills, a 133,310-square-foot shopping center in Calhoun. Developed in 1998, Indian Hills’ current tenants include Chick-fil-A, Hibbett Sports, CATO, GNC, PT Solutions and Tractor Supply. Taco Bell and Captain D’s are located on separately owned parcels directly in front of the property. Indian Hills is located at 429 Ga. Highway 53, directly across from Mohawk Industries, which employs 3,400 people. The seller and sales price were not disclosed.

October 28, 2019

Acquisitions Multifamily South Carolina Southeast

Berkadia Arranges $28M Sale of Multifamily Community in North Charleston

by Alex Tostado October 28, 2019

NORTH CHARLESTON, S.C. — Berkadia has arranged the $28 million sale of Planters Crossing, a 256-unit multifamily community in North Charleston. The property is located at 7910 Crossroads Drive, 15 miles north of downtown Charleston. The community offers one- and two-bedroom floor plans. Communal amenities include a clubhouse, swimming pool, sundeck, barbecue area and laundry facilities. Mark Boyce and Blake Coffey of Berkadia represented the seller, Intersouth Realty, in the transaction. John Bray of Berkadia originated a Fannie Mae acquisition loan on behalf of the buyer, Charleston-based Blaze Partners.

October 28, 2019

Acquisitions Massachusetts Northeast Office

NKF Negotiates $69.2M Sale of Office Property in Boston

by Alex Patton October 28, 2019

BOSTON — Newmark Knight Frank (NKF) has negotiated the $69.2 million sale of 100 Franklin Street, a 123,950-square-foot office building in downtown Boston. At the time of sale, the nine-story building was 95 percent leased to 25 tenants including Webster Bank, data research company Lux Research Inc. and the YMCA. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble and Samantha Hallowell of NKF represented the seller, a partnership between Clarion Partners LLC and Synergy Investments. A partnership between Independencia Asset Management LLC and Synergy Investments LLC was the buyer. Boston Business Journal reports that Synergy will remain in its 9,034-square-foot office within the building and will continue to manage the property.

October 28, 2019

Leasing Activity New Jersey Northeast Retail

Burlington Stores Signs 46,000 SF Retail Lease in Raritan, New Jersey

by Alex Patton October 28, 2019

RARITAN, N.J. — Burlington Stores has signed a 46,000-square-foot retail lease in Raritan, located approximately 40 miles west of New York City. The apparel retailer will occupy a free-standing box formerly occupied by Toys ‘R’ Us/Babies ‘R’ Us in the 150,000-square-foot Somerville Circle Shopping Center, which is anchored by Staples, Petco and department store P.C. Richard & Son. Burlington plans to open the new store in spring 2020. Vanessa Fernandez-Kelty of Levin Management Corp. represented the landlord, which was undisclosed, in the lease negotiations. Clifford Simon and David Rosen of CNS Real Estate represented Burlington.

October 28, 2019

Acquisitions Massachusetts Northeast Office

Colliers Arranges $12.3M Sale of Foxford Business Center in Canton, Massachusetts

by Alex Patton October 28, 2019

CANTON, MASS. — Colliers International has arranged the $12.3 million sale of Foxford Business Center, a 112,375-square-foot industrial building in Canton, located approximately 15 miles south of Boston. Foxford Business Center was completed in 1984 and underwent subsequent renovations in 1990 and 1995. The building was fully leased to 13 tenants at the time of sale. Caleb Hudak, Cathy Minnerly, Ovar Osvold, Sean Hannigan and Glenne Bachman of Colliers represented the seller, The Naughton Co., in the transaction. Longpoint Realty Partners was the buyer.

October 28, 2019

Acquisitions Industrial New York Northeast

NAI Brokers $1.6M Sale of Industrial Building on Long Island

by Alex Patton October 28, 2019

LONG ISLAND, N.Y. — NAI Long Island has brokered the 1.6 million sale of a 10,000-square-foot industrial building in the Huntington Station neighborhood on Long Island. The single-tenant manufacturing facility was completed in 1966 and offers 14-foot clear ceiling heights, one dock-high door and two drive in doors. Gary Pezza of NAI Long Island represented the seller, 55 Craven Realty LLC, in the transaction. Alberto Fiorini of Alliance Real Estate Corp. represented the buyer, Giambrone Realty LLC.

October 28, 2019

Acquisitions California Office Western

Drawbridge Realty Acquires Two Orange County Office Buildings Totaling 169,315 SF

by Amy Works October 28, 2019

ALISO VIEJO, CALIF. — San Francisco-based Drawbridge Realty has purchased two office buildings in Aliso Viejo for an undisclosed price. Known as 4 and 5 Polaris, the assets serve as the corporate headquarters for Quest Software and UST Global, respectively. Located at 4 and 5 Polaris Way, the four-story 4 Polaris and three-story 5 Polaris buildings offer a total of 169,315 square feet. Anthony Delorenzo, Todd Tydlaska, Sean Sullivan, Michael Longo and Bob Smith of CBRE represented the undisclosed seller in the transaction.

October 28, 2019

Acquisitions California Multifamily Western

TMG Brokers $15.8M Sale of The Regency Apartments in Sacramento

by Amy Works October 28, 2019

SACRAMENTO — The Mogharebi Group (TMG) has arranged the sale of The Regency Apartments, a multifamily community located at 5900 Riza Ave. in Sacramento. An undisclosed private investor acquired the property for $15.8 million. Built in 1969 and situated on 5.4 acres, The Regency features 130 apartments in a mix of one-, two- and three-bedroom layouts. Alex Mogharebi and Otto Ozen of TMG represented the seller, a Sacramento-based investor, in the deal.

October 28, 2019

Development Multifamily Washington Western

Nitze-Stagen, Pinnacle Partners to Develop Canton Lofts Apartment Project in Seattle

by Amy Works October 28, 2019

SEATTLE — Developer Nitze-Stagen and Pinnacle Partners, an Opportunity Zone investment firm, have broken ground on Canton Lofts in Seattle’s historic Pioneer Square. The project is the city’s first Opportunity Zone development. The $30 million development will feature 80 units with transit accessibility and provide affordable, one-bedroom studios.

October 28, 2019

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