Property Type

Cushman & Wakefield Arranges Sale of 200,000 SF Office Building in Bridgewater, New Jersey

by Amy Works February 14, 2017

BRIDGEWATER, N.J. — Cushman & Wakefield has brokered the sale of One Grande Commons, an office building located at 400 Route 22 East in Bridgewater. American Equity Partners acquired the 200,000-square-foot property from Mack-Cali for an undisclosed price. The three-story building features a full-height atrium lobby with seating area and is home to pharmaceutical, engineering and law firms. Gary Gabriel, Andrew Merin, David Bernhaut, Brian Whitmer, Andrew Schwartz and Frank DiTommaso of Cushman & Wakefield brokered the transaction.

February 14, 2017

Multifamily Northeast Pennsylvania Student Housing

Rittenhouse Realty Sells 40-Unit Student Housing Community in Philadelphia

by Amy Works February 14, 2017

PHILADELPHIA — Rittenhouse Realty Advisors has sold Chester Hall Apartments, a 40-unit student housing community located in the University City neighborhood of Philadelphia. The property is located near the University of Pennsylvania, Drexel University and University of the Sciences. The undisclosed buyer plans to implement a small-scale renovation at the property, which is over 98 percent leased for the current school year.

February 14, 2017

New Jersey Northeast Office

Markeim Chalmers Negotiates $2.3M Sale of 48,000 SF Office Building in New Jersey

by Amy Works February 14, 2017

MOORESTOWN, N.J. — Markeim Chalmers has arranged the sale of an office building located at 505 S. Lenola Road in Moorestown. The estate of Edna Ravikio sold the property to SFA 505 South Lenola Rd LLC for $2.3 million. The building features 48,000 square feet of office space and was 90 percent occupied at the time of sale. Fred Berlinsky, Kevin Burns and Adam Dembo of Markeim Chalmers represented the seller and buyer in the deal.

February 14, 2017

California Multifamily Western

Clear Capital, Bascom Buy Monterey Station Apartment Community in Pomona for $85M

by Nellie Day February 14, 2017

POMONA, CALIF. — A joint venture between Clear Capital and Bascom Group has acquired the 349-unit Monterey Station apartment community in Pomona for $85 million. The community is located at 120-180 E. Monterey Ave. It sits across from Pomona Metro Station and adjacent to the Western University of Health Sciences. The seller was Realm Real Estate. Dean Zander, Joe Leon and Jeff Rowerdink of Berkadia executed the sale.

February 14, 2017

California Retail Western

Hanley Investment Group Arranges $17.2M Sale of Upland Village Shopping Center

by Nellie Day February 14, 2017

UPLAND, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $17.2 million sale of Upland Village, a 60,857-square-foot shopping center located in Upland. Grocery Outlet and Dollar Tree anchor the fully occupied shopping center. Ed Hanley and Bill Asher of Hanley Investment Group, and Joe Miller of Voit Real Estate Services represented the seller, Outpost Village LLC. Peter Loh and Paul Yang of RE/MAX represented the buyer, a Southern California-based private investor.

February 14, 2017

Nevada Retail Western

Agora Realty Acquires Smart & Final-Anchored Shopping Center in Las Vegas for $10.3M

by Nellie Day February 14, 2017

LAS VEGAS — Agora Realty and Management has acquired a 100,856-square-foot, Smart & Final-anchored shopping center located in Las Vegas for $10.3 million. Tenants at the 71 percent occupied center include Carl’s Jr., Little Caesars Pizza and Cricket Wireless. The seller in the transaction was undisclosed. The firm plans to renovate the façade of the center, and is currently under contract with Metro PCS to occupy 1,229 square feet of space.

February 14, 2017

Multifamily Texas

Frontline Capital Partners Acquires 333-Unit Multifamily Community in Metro San Antonio

by Amy Works February 14, 2017

UNIVERSAL CITY, TEXAS — Frontline Capital Partners has acquired Sable Ridge Apartments, a 333-unit multifamily property located near the intersection of Interstate 35 and Loop 1604 in Universal City. On behalf of the buyer, Mark Brandenburg of JLL Capital Markets secured financing through LegacyTexas Bank for the acquisition and rehabilitation of the property. The property features two pools, a 24-hour fitness center, sand volleyball court, outdoor basketball court, playground area and internet café.

February 14, 2017

Industrial Texas

Boyd Commercial/CORFAC Facilitates Sale of 26,274 SF Industrial Building in Houston

by Amy Works February 14, 2017

HOUSTON — Boyd Commercial/CORFAC International has arranged the sale of an industrial building located at 6550 Bingle Road in Houston. Tube America Inc. sold the 26,274-square-foot property for an undisclosed price. David Boyd and Wes Williams of Boyd Commercial represented the seller, while Greg Barra, also of Boyd Commercial, represented the buyer in the deal.

February 14, 2017

Retail Texas

John T. Evans Co. Brokers Three Retail Land Sales in Texas

by Amy Works February 14, 2017

FORT WORTH, PLANO AND HILLSBORO, TEXAS — John T. Evans Co. has arranged three land sales in Texas for the development of retail properties. In the first deal, SCSD-Finnell Ltd. acquired a 1.1-acre land parcel at the southwest corner of Heritage Trace Parkway and North Beach Street in Fort Worth. Hillwood Alliance Residential sold the property for an undisclosed price. The buyer plans to construct a retail center on the property. Jim Jamerson of John T. Evans Co. represented the buyer, while Edward Bogel and David Davidson of Davidson Bogel Real Estate represented Hillwood Alliance Residential. In the second land sale, SCSD-Finnell purchased 0.9 acres of land at 1224 N. Central Expressway in Plano for the development of a Schlotzsky’s Deli. Jamerson represented the buyer in the deal. The name of the seller and acquisition price were not released. In the third transaction, Tang Lu acquired 27,677 square feet of land with an existing building at 1400 Interstate 35 S.W. in Hillsboro. The buyer plans to redevelop the building into a fast food restaurant. Zach Berman of John T. Evans Co. represented the undisclosed seller in the deal. The acquisition price was not released.

February 14, 2017

Office Retail Texas

Marcus & Millichap Negotiates Sale of 6,186 SF Office, Retail Property in Arlington

by Amy Works February 14, 2017

ARLINGTON, TEXAS — Marcus & Millichap has arranged the sale of a multi-tenant office and retail property located at 1251 W. Green Oaks Blvd. in Arlington. A developer sold the 6,186-square-foot property to an undisclosed buyer. At the time of sale, the property was fully leased to a mix of tenants including Alamo Title, Farmers Insurance and Edward Jones Investments. Blake Burnett of Marcus & Millichap represented the seller in the deal, while Chris Parker of Mark One Capital arranged financing for the acquisition. The acquisition price was not released.

February 14, 2017

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