HOUSTON — California-based investment firm BKM Capital Partners has purchased a portfolio of two adjacent industrial properties totaling 242,555 square feet across eight buildings in southwest Houston. Southwest Business Park totals 131,000 square feet across three buildings, and Stonecrest Business Center totals 111,555 square feet across five buildings. Combined, the properties offer 39 suites with a current occupancy rate of about 70 percent. BKM Capital, which plans to implement capital improvements, purchased the portfolio for $29.5 million from Fort Worth-based investment firm Fort Capital.
COLUMBIA, S.C. — Stratus Development Group has completed Pickens Corner, a 60-bed student housing community situated a few blocks from the University of South Carolina (USC). The Georgia-based developer has also fully leased the development, which comprises three-bedroom townhomes that each have 3.5 bathrooms and upscale finishes including granite countertops, recessed lighting and stainless steel appliances. Pickens Corner is located in Columbia’s Rosewood neighborhood near the city’s Five Points area and Williams-Brice Stadium, home football arena of the USC Gamecocks.
WESTLAKE, TEXAS — Pluralsight Inc. has signed a 26,000-square-foot office lease in Westlake, a northern suburb of Fort Worth. The global workforce development company has relocated from Utah to the fourth floor of the 120,543-square-foot Building 6 at Terraces at Solana, a 1.1 million-square-foot complex. A partnership between two Chicago-based firms, Glenstar and Singerman Real Estate, owns Terraces at Solana.
ARLINGTON, TEXAS — Holt Lunsford Commercial has negotiated a 5,731-square-foot office lease in Arlington. The space is located within the 123,000-square-foot building at 700 Highlander Blvd. Vic Meyer and Kareem Amer of Holt Lunsford represented the landlord in the lease negotiations. Ryan Matthews of JLL represented the tenant, Island Imaging Investments.
NEW YORK CITY — CBRE has negotiated the $28 million sale of the 245,419-square-foot retail space within the former New York Times building at 229 W. 43rd St. and 216-226 W. 44th St. in Midtown Manhattan. Kushner bought the space in 2015 for $296 million. The space spans the first four floors and two lower levels and was 34.5 percent leased at the time of sale to tenants such as entertainment concept Lucky Strike and restaurants Tacos No. 1 and Ra Sushi. Jay Miller and A.J. Felberbaum of BayBridge Real Estate Capital represented the buyer, a Delaware-based entity doing business as Forum at Time Square LLC, in the transaction. Jack Stillwagon and Doug Middleton of CBRE represented the seller, a trust working on behalf of CMBS bondholders that took title of the property last year via a foreclosure proceeding against Kushner.
NEW YORK CITY — Marcus & Millichap has brokered the $4.6 million sale of an apartment building located at 719 Willow Ave. in Hoboken. The building consists of nine apartments and one ground-floor commercial space that is newly renovated and is leased to a laundromat operator. Jonathan Zamora of Marcus & Millichap brokered the deal. The buyer and seller were not disclosed.
NEW YORK CITY — Tempus AI Inc., a healthcare technology firm, has signed a 39,565-square-foot office lease at 11 Madison Avenue, a 30-story building in Midtown Manhattan. The lease term is 10 years, and the space spans part of the building’s 17th floor. Peter Michailidis of JLL represented the tenant in the lease negotiations. Brian Waterman, Scott Klau, Eric Harris and Brent Ozarowski of Newmark represented the landlord, SL Green.
FARMINGTON, CONN. — Colliers has negotiated the sale of a 30,829-square-foot industrial building in Farmington, located just west of Hartford. The sales price was $1.9 million. According to LoopNet Inc., the building at 145 Hyde Road was constructed on 6.5 acres in 1966 and features a clear height of 16 feet and two dock-high loading doors. Christian Dietz of Colliers brokered the deal. The buyer and seller were not disclosed.
FORT LEE, N.J. — Locally based firm Weiss Realty has sold a multifamily development site in the Northern New Jersey community of Fort Lee for approximately $1.8 million. The 13,700-square-foot site at 2130 Center Ave. is approved for the development of 24 new units. Bruce Elia of Keller Williams represented both Weiss Realty and the buyer, local developer Scott Heagney, in the transaction.
LAKE SAMMAMISH, WASH., AND CHANDLER, ARIZ. — TruAmerica Multifamily has acquired two apartment properties in Lake Sammamish and Chandler, adding 423 units to its Pacific Northwest and Southwest portfolios. Located in Lake Sammamish, Archstone Redmond Lakeview offers 166 garden-style apartments and 45 income-generating boat slips. TruAmerica plans to rebrand and renovate the community, which was built in 1987, as The Docks at Redmond Lakeview. Eli Hanacek, Kyle Yamamoto and Mark Washington of CBRE facilitated the transaction. Situated in Chandler, Park Tower Apartments & Townhomes features 180 garden-style apartments built in 1986 and 77 condominium-quality townhomes built in 2017. TruAmerica will combine the two properties and rebrand the community as Parkland Commons. Chris Canter, Brad Goff and Brett Polachek of Newmark, along with Dan Cheyne of Berkadia, arranged the off-market transaction. Mitch Clarfield, Meghan Varga and Garrett Swanky of Newmark facilitated financing for the deal.