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85-crystal-run-middletown-ny
New YorkNortheastOffice

Cushman & Wakefield Negotiates Sale of 164,070 SF Office Building in Middletown, New York

by Amy Works

MIDDLETOWN, N.Y. — Cushman & Wakefield has arranged the sale of an office building located at 85 Crystal Run Road in Middletown. A private equity group acquired the 164,070-square-foot Class A property from an affiliate of Madison International Realty and its operating partner for an undisclosed price. Situated on 21 acres, the four-story property serves as the corporate accounts services location for Empire Blue Cross Blue Shield. The building features ample parking, multiple on-grade entryways, a naturally-lit atrium lobby, cafeteria and fitness center infrastructure. Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Frank DiTommaso and Andrew Schwartz of Cushman & Wakefield represented the seller and procured the buyer.

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CaliforniaOfficeWestern

Inland Empire Health Plan Buys Empire Lakes Corporate Center in Rancho Cucamonga for $44.3M

by Nellie Day

RANCHO CUCAMONGA, CALIF. — Inland Empire Health Plan (IEHP) has purchased Empire Lakes Corporate Center, a 241,292-square-foot office building in Rancho Cucamonga, for $44.3 million. The Class A building is located at 9500 Cleveland Ave. IEHP also owns the neighboring property, a 400,000-square-foot building at 10801 Sixth St. The new building will allow the nonprofit public health organization to expand. Southern California Edison and State Farm Insurance also occupy the space. Andrew Peake and Tom Pierik of Lee & Associates represented the seller, Utah State Retirement Fund, in this transaction.

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1605-1642-s-market-st-elizabethtown-pa
NortheastPennsylvaniaRetail

HFF Assists REIT in Sale of 169,856 SF Retail Center in Elizabethtown, Pennsylvania, to Nassimi Realty

by Amy Works

ELIZABETHTOWN, PA. — HFF has arranged the sale of Market Street Square, a grocery-anchored retail center located at 1605-1641 S. Market St. in Elizabethtown. Nassimi Realty LLC acquired the property free and clear of existing debt for an undisclosed sum. Situated on 18.6 acres, the 169,856-square-foot center is anchored by Weis Markets, Kmart and Dollar General. Additional tenants include Sleepy’s, Sherwin-Williams, Subway and Fulton Bank. Chris Munley, Jose Cruz and Michael DiCosimo of HFF represented the seller, a publicly traded REIT, in the transaction.

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CaliforniaIndustrialWestern

Gramercy Property Trust Acquires Industrial Project in Santa Fe Springs for $27M

by Nellie Day

LOS ANGELES — Gramercy Property Trust has purchased a 208,167-square-foot industrial project in the Los Angeles submarket of Santa Fe Springs for $27 million. The facility is located at 13132 Lakeland Road, 10947 Painter and 11010 Shoemaker Ave. It is fully leased to Votaw Precision Technologies. Jeff Chiate, Jeffrey Cole, Ed Hernandez and Mike Adey of Cushman & Wakefield’s National Industrial Advisory Group represented the seller, Double Run LP, in this transaction.

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colliers-morris-co-nj
New JerseyNortheastOffice

Colliers Brokers Sales of Two Former Headquarters Assets in Morris County, New Jersey

by Amy Works

MORRIS TOWNSHIP AND PINE BROOK, N.J. — Colliers International has arranged the sales of two former headquarters assets in Morris County. In the first transaction, Onyx Equities acquired Kemble Plaza I, located at 340 Mount Kemble Ave. in Morris Township, for $7.6 million. Situated on 40 acres, the 370,000-square-foot property is the former headquarters of AT&T. Jackie Chesler, Richard Madison and Jonathan Schlussel of Colliers represented the undisclosed seller in the deal. In the second deal, a New Jersey-based private buyer acquired 34 Corporate Plaza, an office building located at 34 Maple Ave. in Pine Brook, for $2.5 million. At the time of sale, the 130,000-square-foot building was 14 percent occupied. Chesler, Madison and Schlussel negotiated the transaction. The name of the seller was not released.

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IndustrialUtahWestern

ReaderLink Leases 500,000 SF at Business Depot Ogden

by Nellie Day

OGDEN, UTAH — ReaderLink has leased a 500,000-square-foot, built-to-suit distribution space in Business Depot Ogden. The new facility will be located at 1019 W. 400 N. in Ogden. The space will be completed at the end of the second quarter in 2017. JLL’s Andy Wheeler and Wick Udy represented the hardcover, trade and paperback books distributor.

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CaliforniaOfficeWestern

Diablo Technology Center in Pleasanton Changes Hands

by Nellie Day

PLEASANTON, CALIF. — An unnamed buyer has acquired Diablo Technology Center, a 191,009-square-foot office and R&D property in the Silicon Valley submarket of Pleasanton, for an undisclosed sum. The Class A facility is situated within the Hacienda Business Park. The three-building center is occupied by tenants like PulteGroup, Sunbelt Controls and CooperVision. NGKF Capital Markets’ Steve Golubchik, Mike Zylstra, Grant Lammersen, Forrest Gherlone, and Tim Walling executed the transaction.

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CaliforniaRetailWestern

Hanley Investment Negotiates $8.5M Sale of Multi-Tenant Retail Pad in Hesperia

by Nellie Day

HESPERIA, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the off-market sale of a multi-tenant retail located at 13325 Main St. in Hesperia. SHA Enterprises Inc. acquired the property from Pacific Development Group for $8.5 million. A new Walmart Supercenter shadow-anchors the 13,940-square-foot property. Pieology Pizzeria, The Habit Burger Grill, Firehouse Subs, Yogurtland, Great Clips, Nutrishop and Metro PCS occupy the property, which was built in 2015. Eric Wohl of Hanley Investment represented the seller, while Patrick Kent, also of Hanley, represented the buyer in the deal.

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OfficeTexas

AmerisourceBergen Leases 300,000 SF Corporate Campus in Carrollton

by Haisten Willis

CARROLLTON, TEXAS — AmerisourceBergen Specialty Group has completed negotiations for a 300,000-square-foot office lease in Carrollton. The corporate campus will be the largest build-to-suit office campus at the Offices of Austin Ranch and will serve as AmerisourceBergen’s regional headquarters. JLL’s Jeff Staubach, Greg Biggs, Torrey Littlejohn and Chase Monroe negotiated the lease on behalf of AmerisourceBergen, an American drug wholesale company. Billingsley’s Marijke Lantz represented the landlord. AmerisourceBergen joins Freddie Mac, Quest, Sanyo, Orthofix and Edward Don at the 1,700-acre master-planned development.

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RetailTexas

CBRE Brokers $15M Sale of West Road Collection Shopping Center in Houston

by Haisten Willis

HOUSTON — CBRE Group Inc. has brokered the sale of West Road Collection, a neighborhood shopping center in Houston, to Hass Holdings LLC for $15 million. CBRE’s Richard Rizika represented the seller, JW Rich Investment Co., and JLL represented the buyer. The shopping center spans 65,798 square feet with a mix of restaurant and service tenants. West Road Collection is 98 percent leased, with an average occupancy rate of 95 percent over the last five years.

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