PLAINVIEW, N.Y. — Milvado Property Group has signed culinary equipment supplier JB Prince to a 21,000-square-foot industrial lease at 79 Express Street in Plainview. The length of the lease was not disclosed. 79 Express Street is a 72,000-square-foot industrial manufacturing building located 33 miles east of Manhattan. JLL represented JB Prince in the transaction. Milvado was represented in-house by Regional Property Director David Hercman.
FRANKSVILLE, WIS. — The Barry Company has arranged the sale of an 11,800-square-foot industrial building in Franksville, about 20 miles south of Milwaukee, for an undisclosed price. Former occupant Custom Painted Vehicles sold the property and has moved to a larger, neighboring facility. David Barry of The Barry Company represented the seller in the transaction. Gurtz Electric Co. purchased the building. The property is located near the Foxconn development area in the I-94 corridor. Foxconn, an electronics manufacturer, is expected to hire 13,000 workers for its Wisconsin facility, which is currently under construction.
MAHWAH, N.J. — Houlihan-Parnes Realtors has arranged the sale of the Mawah Business Park in Mahwah. The property consists of nearly 400,000 square feet of office and warehouse space. Robert V. Tiburzi, Jr. of Houlihan-Parnes represented the seller, a closely held investment group, in the transaction. A Rockland County, N.Y.-based real estate investment company purchased the property for an undisclosed amount. Attorney Doran Golubtchik of Goldberg Weprin Finkel Goldstein LLP provided legal counsel to the seller.
CINNAMINSON TOWNSHIP, N.J. — Capitol Seniors Housing has acquired Siena, an upscale active adult community in Cinnaminson Township, located across the Delaware River from Philadelphia. The price was not disclosed. Capitol plans to continue an existing master plan for the community, which includes the construction of a new clubhouse and seven residential buildings offering a total of 119 new units. The project will more than double the existing 85 units. The community sits on a 15-acre plot across the street from a large retail development. Residents must be age 55 or older to live at Siena. The expansion project is scheduled to begin this summer. The clubhouse will open in early 2019, followed by the residential buildings in mid-2019. Cove Property Management will operate the community. This is Capitol’s fourth seniors housing property in New Jersey, with three more currently under construction.
ASHEVILLE, N.C. AND MT. PLEASANT, S.C. — Go Store It has broken ground on two new self-storage developments in Asheville and Mt. Pleasant. The Charlotte, N.C-based company specializes in the acquisition, development and management of self-storage assets throughout the country. The project in Asheville will feature more than 600 units and will be fully climate controlled. The development is located in the Woodfin submarket, just north of the city’s downtown. Go Store It owns three existing facilities in Asheville and is underway on another along Hendersonville Road. The self-storage facility in Mt. Pleasant is Go Store It’s third facility in the city and its fifth in the greater Charleston market. Located at the corner of Gregorie Ferry Road and Highway 17 North, the three-story building will be fully climate controlled and will feature more than 400 units. Go Store It’s other Charleston locations include a recently opened facility at Long Point Road, as well as facilities under construction at Johnnie Dodds, Folly Road, Maybank Highway and downtown Charleston. A construction timeline for the new facilities was not disclosed. Go Store It plans to break ground on five more developments this year in Charlotte, Cary, Louisville, Ky., and Fredericksburg, Va.
BALTIMORE — The Goldstar Group has acquired an 86,236-square-foot warehouse building located at 1821 Portal St. in Baltimore for $7.6 million. Jonathan Beard and Justin Mohler of CBRE arranged the transaction on behalf of the undisclosed seller. The facility is situated adjacent to the Dundalk and SeaGirt Marine Terminals and the Intermodal Container Transfer Facility at the Port of Baltimore. The building is fully leased to two tenants — Johns Hopkins Bayview Medical Center and Bacchus Imports, an importer of fine wines and spirits.
WILMINGTON, N.C. — Coldwell Banker Commercial Sun Coast Partners, a division of Coldwell Banker Commercial, has brokered the $7.4 million sale of two adjacent office buildings in Wilmington. MegaCorp Logistics, a Wilmington-based freight and logistics firm, acquired the assets from First Capital Group. Cody Cress and Tyler Pegg of The Cress Group, a division of Coldwell Banker Commercial Sun Coast Partners arranged the transaction on behalf of First Capital Group, and Spruill Thompson of Cape Fear Commercial represented MegaCorp Logistics. The two-story buildings, located at 1011 and 1013 Ashes Drive, total 30,595 square feet and 16,800 square feet, respectively.
LEESBURG, VA. — Calkain Cos. has arranged the $6.1 million sale of a multi-tenant strip center located at 400-416 Sycolin Road S.E. in Leesburg, a city in northern Virginia. The sales price equates to $440 per square foot. The names of the buyer and seller were not disclosed. A 9,300-square-foot Kiddie Academy anchors the center, which is co-located with a Walgreens.
CORDOVA, TENN. — Titkin Real Estate Investment Services (TREIS) has brokered the $5.2 million sale of Cordova Village, a 30,000-square-foot shopping center located at 1315 N. Germantown Parkway in Cordova, roughly 23 miles east of Memphis. Adam Titkin and Cliff Weisner of TREIS arranged the transaction on behalf of the seller, Cordova TN LLC. HAO Investment Co. acquired the asset. Cordova Village was 92 percent leased at the time of sale to tenants such as PPG Paints, Subway and Domino’s Pizza.
PHOENIX — TLG Investment Partners and Concord Wilshire Capital, through an affiliate of TLG Phoenix, have purchased Sheraton Grand Hotel in Phoenix. An undisclosed seller sold the property for $255 million. Marriott International is the majority capital partner with TLG and Concord Wilshire, and will manage the asset. Situated in downtown Phoenix, the hotel features 1,000 guest rooms and 114,000 square feet of indoor and outdoor meeting space.
