NORTH RICHLAND HILLS, TEXAS — JLL has negotiated the sale of Diamond Loch, a 138-unit multifamily community located in the Fort Worth suburb of North Richland Hills. Scott LaMontagne, Zar Haro, Moses Siller and David Fersing of JLL represented the seller, 6100 Glenview Drive LLC, in the transaction. California Capital Real Estate Advisors Inc. purchased the asset for an undisclosed price.
MONTGOMERY, TEXAS — The J. Beard Real Estate Co. has brokered the sale of Montgomery Trace, a 94,893-square-foot shopping center situated on 14 acres at 20821 Eva St. in Montgomery, about an hour northeast of Houston. Anchored by a 31,760-square-foot Brookshire grocery store, the property was 92 percent leased at the time of sale. Jeff Tinsley of The J. Beard Co. represented the seller, Montgomery Trace Shopping Center DST, in the transaction.
SUGAR LAND, TEXAS — Poynter Commercial Properties Corp. has negotiated 30,266 square feet of office leases at Commerce Green Office Park in Sugar Land. Notable individual leases include Comcast of Houston LLC’s 6,936-square-foot space and Community Impact Newspaper’s 6,397-square-foot space. Developed in 1998, the Class A, 1.2 million-square-foot property is now 100 percent leased. Kevin Poynter and Peyton Poynter of Poynter Commercial represented the landlord, Commerce Green Associates LP. in the lease negotiations.
HOUSTON — NAI Partners has brokered the sale of 33,000-square-foot warehouse located at 6922 and 6930 La Paseo St. in southeast Houston. Situated on 2.6 acres and built in 1974, the property features 16- to 22-foot clear heights and four drive-in/grade-level doors. Chris Caudill of NAI Partners represented the seller, Mitas Tower. Nabil Murad of NM Management LLC represented the buyer, Radwan A-Z LLC.
MOORESTOWN AND BURLINGTON, N.J. — Brennan Investment Group has purchased a 26-building portfolio in Moorestown and Burlington, suburbs of Philadelphia, for an undisclosed price. Totaling 1.3 million square feet, 24 of the properties are located in Moorestown with the remaining two in Burlington. Brennan plans to open a regional office in one of the Moorestown properties. The Flynn Company will handle leasing and property management of the portfolio. The name of the seller was not released.
SARATOGA SPRINGS, N.Y. — Sitar Realty Co. has arranged the acquisition of 6,272 self-storage units across the Northeast. Saratoga Springs-based Prime Group Acquisitions purchased the properties, which total 673,588 square feet, for $124.4 million. The properties are located in Clinton, Lindenwold, Phillipsburg and Washington, N.J.; Brookfield, Farmington, Newington and New Milford, Conn.; Boston, Hyde Park, Quakertown, Somerville and South Boston, Mass.; and Fairless Hills, Pa. Bill Sitar Jr. of Sitar Realty Co. brokered the transactions. The names of the sellers were not disclosed.
MANASQUAN, N.J. — Levin Properties has purchased ACME Center, a retail property located at 71 Taylor Ave. in Manasquan, for an undisclosed price. ACME supermarket occupies the 19,000-square-foot property, which is situated on two acres. Levin Management Corp. served as advisor to the buyer in the deal. Levin Management Corp. is the property’s new leasing and managing agent. The name of the seller was not released.
HACKENSACK, N.J. — NAI James E. Hanson has arranged the sale of an industrial building located at 174 Union St. in Hackensack. Ninth Avenue Properties sold the 5,800-square-foot property to Petaks Kosher Foods Catering for an undisclosed price. As part of the transaction, the seller negotiated a leaseback for 300 square feet of office space at the property. The property is a two-story industrial/USDA processing plant with full cooking, preparation and refrigeration equipment, as well as second-floor storage and six parking spaces. Petaks Kosher Foods Catering plans to relocate its operations from Fair Lawn, N.J., to the new property. Anthony Cassano of NAI Hanson represented the seller in the transaction.
PALISADES PARK, N.J. — Marcus & Millichap has negotiated the sale of an office building located at 111 Grand Ave. in Palisades Park. An undisclosed seller sold the building for $3 million. The 20,000-square-foot building features 14 separate suites, ranging in size from 186 square feet to 6,000 square feet. At the time of sale, the property was 33 percent occupied. Fahri Ozturk and Tyler Van Wagoner of Marcus & Millichap represented the seller. The name of the buyer was not released.
MIAMI — HFF has arranged the $58 million refinancing of a nine-property retail portfolio located throughout Miami-Dade County. Chris Drew, Nat Scarmazzi and Matthew McCormack of HFF arranged the 10-year, fixed-rate loan through a life insurance company on behalf of the borrower, MMG Equity Partners. The portfolio, which totals 275,979 square feet, includes Sunset Village Shopping Center, located at 10700 S.W. 72nd St. in Miami; Bird West Plaza, located at 14465 S.W. 42nd St. in Miami; Flagler Plaza, located at 5300 W. Flagler St. in Miami; Navarro Gables, located at 3949 S.W. 8th St. in Miami; Little River Retail, located at 8050-8100 N. Miami Ave. in Miami; Kendall Drive Retail, located at 9720 N. Kendall Drive in Miami; Navarro Miami Beach, located at 631 71st St. in Miami Beach; Colonial Shopping Center, located at 400 N.E. 125th St. in North Miami; and Navarro Sunny Isles, located at 18500 Collins Ave. in Sunny Isles Beach. Navarro Pharmacy anchors six of the properties, and President Supermarkets anchors two. The portfolio also includes one strip center. At the time of sale, the portfolio was 97 percent leased.
