Property Type

LGE Design Build Completes New Warehouse, Distribution Center in Goodyear

by Nellie Day August 5, 2016

GOODYEAR, ARIZ. — LGE Design Build has completed construction on a new 300,000-square-foot U.S. Western warehouse and distribution center in Goodyear. The facility is situated within Goodyear Gateway industrial park. The property has been fully leased to Michael Lewis Company (MLCo). Approximately 100,000 square feet of the 300,000-square-foot building is a refrigerated freezer. The company distributes food and catering supplies to major airlines. MLCo had outgrown its previous 100,000-square-foot facility near Phoenix Sky Harbor International Airport.

August 5, 2016

California Retail Western

NAI Capital Brokers $6.6M Sale of Retail Property in Los Angeles

by Nellie Day August 5, 2016

LOS ANGELES — NAI Capital has arranged the sale of a retail property located at 2128-2152 W. Washington Blvd. in Los Angeles’ West Adams Heights neighborhood. Washington-Western LLC sold the 22,400-square-foot property for $6.6 million, or $268 per square foot. Built in 1924, the property was delivered vacant to the undisclosed buyer as a condition of the sale. Parham Khoshbakhtian of NAI Capital represented the seller in the deal.

August 5, 2016

California Retail Western

Three-Tenant Retail Property in San Francisco Sells for $4.6M

by Nellie Day August 5, 2016

SAN FRANCISCO — An undisclosed buyer has acquired a three-tenant retail property located at 1720-1790 Fulton St. in San Francisco for $4.6 million. Constructed in 2004, Chase Bank, Glow Spa and Great Clips occupy the property. Erich Reichenbach of Marcus & Millichap represented the seller, a private investor, and the buyer in the transaction.

August 5, 2016

California Retail Western

Retail California Brokers Three Retail Leases Totaling 6,858 SF

by Nellie Day August 5, 2016

ELK GROVE, FRESNO AND KINGSBURG, CALIF. — Retail California has arranged three leases for retail space in Elk Grove, Fresno and Kingsburg totaling 6,858 square feet. In the first deal, Ritas Italian Ice leased 1,200 square feet of space at 8519 Bond Road in Elk Grove from JJD-HOV Elk Grove LLC. Rachael Orlando and Peter Orlando of Retail California, along with Scott Caruth of CBRE, brokered the transaction. In the second deal, Gurpreet and Pawandeep Singh leased 3,000 square feet of retail space at 8020 N. Cedar Ave. in Fresno from J&V Fresno. Nick Frechou and John Lee of Retail California, along with Mike Mele of Commercial West Associates, arranged the transaction. In the third deal, Jose Robles leased 2,658 square feet of retail space at 1881 Sixth Ave. in Kingsburg from Barletta Hansen for an undisclosed price. Frechou and Lee represented the landlord, while Mark Henry of Colliers International represented the tenant in the deal.

August 5, 2016

Multifamily New Jersey Northeast Restaurant Retail

Woodmont Properties Opens First Phase of Transit-Oriented Apartment Community in New Jersey

by Amy Works August 5, 2016

METUCHEN, N.J. — Woodmont Properties has opened the first phase of Woodmont Metro at Metuchen Station, a transit-oriented apartment community located in downtown Metuchen at the New Jersey Transit Metuchen Train Station. The recently opened phase includes Pearl Street parking garage, a six-level, 796-space parking garage for residents, commuters and shoppers. Managed by Nexus Parking Systems, the parking deck will feature 24-hour on-site service representatives, covered parking, self-service kiosks, daily and monthly rates, vehicle charging stations and portable battery jumper service, as well as handicapped parking and elevators on every level. Slated for completion by the end of 2017, the development will feature 273 residential apartments, an open-space piazza and 11,500 square feet of shops and restaurants.

August 5, 2016

Northeast Office Pennsylvania

Corporate Office Properties Trust Sells Redevelopment Office Project in Pennsylvania for $143M

by Amy Works August 5, 2016

PLYMOUTH MEETING, PA. — Corporate Office Properties Trust has sold Arborcrest Corporate Campus, a Class A redevelopment office project in Plymouth Meeting. An undisclosed buyer acquired the property for $143 million. The asset features four buildings totaling 654,000 square feet that are 100 percent leased, a 190,000-square-foot redevelopment opportunity at 785 Jolly Road and 27 acres of additional land.

August 5, 2016

New York Northeast Office

Newmark Holdings, Olmstead Properties Acquire 225,000 SF Office Building in Long Island City for $61M

by Amy Works August 5, 2016

NEW YORK CITY — Newmark Holdings, in partnership with Olmstead Properties, has acquired an office building located at 43-01 22nd St. in the Courthouse Square section of Long Island City, for $61 million. The companies will now share equal ownership of the six-story, 225,000-square-foot building. The buyers plan to implement an extensive capital improvements program to renovate the building with improvements to the lobby, windows, elevators and restrooms. The seller was a private family, which had owned the property since the 1920s.

August 5, 2016

New Jersey Northeast Office

EY Signs 168,000 SF Office Lease at Waterfront Corporate Center II in New Jersey

by Amy Works August 5, 2016

HOBOKEN, N.J. — EY, formerly Ernst & Young, has signed a new lease for 168,000 square feet of office space at Waterfront Corporate Center II in Hoboken. The global accounting firm is expected to take occupancy in June 2017 and will be relocating a portion of its New York City operations to the space. The three-building complex features 1.5 million square feet of Class A commercial space adjacent to the W Hoboken Hotel. Michael Geoghegan, Craig Reicher, Glenn Dyke, Joan Meixner and Nick Hilton of CBRE represented EY, while Jeff Schotz and Peter Bronsnick provided in-house representation for the landlord, SJP Properties.

August 5, 2016

New York Northeast Retail

Rosewood Realty Group Negotiates $4.9M Sale of Retail Building in Staten Island

by Amy Works August 5, 2016

NEW YORK CITY — Rosewood Realty Group has arranged the sale of a single-story retail building located at 630 Forest Ave. in the West New Brighton section of Staten Island. 12 Franklin Realty Corp. purchased the 7,836-square-foot building from 630 Forest Avenue LLC for $4.9 million. Built in 1930, the building is currently leased to Duane Reade. Michael Guttman of Rosewood Realty represented the buyer and the seller in the deal.

August 5, 2016

Industrial Southeast Tennessee

The Hollingsworth Cos. Breaks Ground on 126,800 SF Industrial Facility in Tennessee

by John Nelson August 5, 2016

CLINTON, TENN. — The Hollingsworth Cos. has begun construction on its fourth industrial facility within Dave Jones Industrial Park in Clinton, a city in Anderson County near Knoxville. The new 127,600-square-foot, Class A facility has the capacity to expand to 172,600 square feet and will feature 32-foot clear heights and eight dock doors. Hollingsworth Cos. has signed A&S Building Systems to pre-lease 13,100 square feet of office space at the new property. Hollingsworth plans to start construction on a fifth facility within Dave Jones Industrial Park in early 2017. Hollingsworth’s prior projects in Anderson County include facilities for Advanced Auto Co., Seneca Medical and Durakon.

August 5, 2016

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