FARMINGTON HILLS, MICH. — GHD Services has signed a 24,480-square-foot office lease in Farmington Hills, west of Southfield. The company provides engineering, architecture, environmental and construction services for the water, energy, environment, property and transportation sectors. GHD will be located at 26850 Haggerty Road. John Fricke and Greg Hudas of Signature Associates represented the landlord, Michigan Five Office LLC, in the lease transaction. CBRE represented the tenant.
CHICAGO — Essex Realty Group Inc. has brokered the sale of an eight-unit apartment building in Chicago for $1.1 million. The building is located at 2020 N. Spaulding Ave. in Logan Square. The property is comprised of six three-bedroom units and two two-bedroom units. The undisclosed buyer plans to completely renovate the building. Jim Darrow and Jordan Gottlieb of Essex brokered the transaction.
ORLANDO, FLA. — Cushman & Wakefield has brokered the $67.1 million sale of four Class A warehouse and distribution buildings in Orlando totaling 946,379 square feet. The portfolio includes Beachline Distribution Center I and II and Crossroads Business Park V and VI. The buildings were fully leased at the time of sale to tenants including FedEx Smartpost, Dusobox, McKesson, Mattress One, Petco and US Mattress Depot. Each building offers front-load and cross-dock capabilities, tilt-wall construction, 26- to 30-foot clear heights, fire safety systems, parking and 120- to 150-foot truck courts with 55-foot concrete aprons. Mike Davis, Michael Lerner and Rick Brugge of Cushman & Wakefield represented the seller, a state pension fund advised by L&B Realty Advisors LLP. Los Angeles-based Colony NorthStar acquired the assets through its Dallas-based industrial fund, Colony Industrial. The transaction is the largest multi-tenant industrial portfolio sale in Orlando’s history in terms of square footage, according to Cushman & Wakefield. — Katie Sloan
PORTLAND, ORE. — Portland Housing Bureau has acquired The Ellington, a 263-unit apartment community in Portland, for $47 million. The community is located at 1610 N.E. 66th Ave. The property is adjacent to the Rose City Golf Course. The sellers were Guardian Real Estate Services and partner Broadreach Capital Partners. HFF’s Ira Virden and director Carrie Kahn executed the sale.
SACRAMENTO, CALIF. — A joint venture between Lowe Enterprises Investors (LEI) and The Family Office (TFO) has acquired Gateway Center, a four-building office portfolio in the South Natomas area of Sacramento, for an undisclosed sum. Gateway Center is located along Interstate 5 near the Interstate 80 interchange. The JV plans to update the properties, including lobby renovations, landscape and lighting improvements, and upgrades to conference rooms, common areas and outdoor gathering spaces. Peter Morgan led the LEI acquisition team. Los Angeles law firm Eisner Jaffe represented the joint venture. This is the first acquisition by the LEI/TFO joint venture, which plans to acquire several additional West Coast office properties in 2017.
SEATTLE — An affiliate of Champion has acquired the 73-unit Union Bay Apartments in the South Lake Union neighborhood of Seattle for $24 million. The community is located at 526 Yale Ave. N. It was built in 1994. Union Bay is situated near Amazon, Dropbox, Google, Facebook, WeWork, the Paul Allen Brain Institute, Fred Hutch Cancer Research and Zymogenetics.
GLENDALE, CALIF. — PSI Services has leased 23,589 square feet of office space in Glendale. The Class A space is located at 611 N. Brand Blvd. PSI committed to an 11-year lease. The company is relocating its corporate headquarters from 17,308 square feet at 2950 N. Hollywood Way in Burbank. Jacob Bobek of Avison Young represented PSI in the deal. Jones Lang LaSalle represented the landlord, LNR Partners.
SURPRISE AND GLENDALE, ARIZ. — Canada-based Triumph Real Estate Investment Fund has acquired two shopping centers in metro Phoenix for $7 million. Acquisitions include the $4 million purchase of Triumph Bell West Ranch, a 20,225-square foot-shopping center located in Surprise; and the $3 million purchase of Triumph Glendale Crossing, a 10,595-square-foot retail center located in Glendale. Jon Rosenberg and Keri Davies of Levrose Commercial Real Estate/TCN Worldwide represented the buyer in the acquisition of Triumph Bell West Ranch from PWREO Bell & 303 LLC, and Triumph Glendale Crossing from Lawrence and Geyser. Danielle Davis of Levrose Commercial Real Estate/TCN Worldwide will handle leasing, and MODE Commercial Property Management has been selected to manage the properties.
NEW YORK CITY — Clipper Realty has entered into an agreement to acquire a residential property located at 107 Columbia Heights in Brooklyn. The Jehovah’s Witnesses is selling the apartment property for $87.5 million, or $569 per square foot. The 154,000-square-foot property features 161 apartment units. The buyer plans to create 12 additional units by converting various public spaces on the property. The acquisition is expected to close in May.
JERSEY CITY, N.J. — KeyBank Real Estate Capital has originated a $62 million first mortgage loan for Cast Iron Lofts Phase II in Jersey City. The name of the borrower was not released. The 26-story apartment community features 232 units. Tom Peloquin of KeyBank’s commercial mortgage group arranged the financing through a correspondent life company relationship.