Property Type

Hawthorne-at-Gillette-Ridge-Bloomfield-CT

White Eagle Property Group Acquires 246-Unit Multifamily Property in Connecticut for $52M

by Amy Works June 1, 2016

BLOOMFIELD, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of The Hawthorne at Gillette Ridge, a multifamily property located at 2 Francis Way in Bloomfield. White Eagle Property Group acquired the 246-unit asset from Bouwfonds Hawthorne LP for $52 million, or $211,000 per unit. The property was constructed on a 612-acre mixed-use campus in 2004 by a partnership between Cigna and The Bozutto Group. Victor Nolletti and Steve Witten of IPA represented the seller and procured the buyer.

June 1, 2016

Florida Retail Southeast

EMPI Buys Lauderdale Marketplace in Broward County for $27M

by John Nelson June 1, 2016

LAUDERDALE LAKES, FLA. — Exclusive Management and Properties Inc. (EMPI) has purchased Lauderdale Marketplace, a 265,000-square-foot retail center in Lauderdale Lakes, for $27 million. EMPI bought the property from Austin Forman and William Murphy of Lauderdale Marketplace Investments LLC. Lloyd Berger and Joe Byrnes of Berger Commercial Realty represented the seller in the transaction. Located on a 30-acre lot at the southeast corner of Oakland Park Boulevard and North State Road 7, Lauderdale Marketplace’s tenant roster includes Broward Health, YouFit Health Club, Davita Dialysis, Papa John’s, Broward Sheriff’s Office, the Department of Veteran Affairs and the Department of Highway Safety and Motor Vehicles. EMPI has retained Berger Commercial Realty to lease and manage Lauderdale Marketplace.

June 1, 2016

Multifamily New York Northeast

Cushman & Wakefield Arranges $10.5M Sale of Residential Building in Manhattan

by Amy Works June 1, 2016

NEW YORK CITY — Cushman & Wakefield has brokered the sale of a five-story residential building located at 240 E. 52nd St. in Manhattan. Coutinho Properties sold the asset for $10.5 million, or $1,122 per square foot. The 9,361-square-foot building features 15 one-bedroom units and a fully furnished basement. Hall Oster and Clint Olsen of Cushman & Wakefield represented the seller, while Stacy Gim of PD Properties represented the undisclosed buyer.

June 1, 2016

Florida Office Southeast

Ivy Realty Sells Office Building in Palm Beach for $16.8M

by John Nelson June 1, 2016

PALM BEACH, FLA. — Ivy Realty has sold The Royal Palm, a three-story boutique office building along “Bankers Row” in Palm Beach, for $16.8 million. Ike Ojala, Hermen Rodriguez and Jorge Portela of HFF represented Ivy Realty in the transaction and procured the buyer, EPIC. The 23,362-square-foot property is located at 250 Royal Palm Way and was 88 percent leased at the time of sale to tenants such as Deutsche Bank and Northern Trust. The Royal Palm features a two-level, 79-space parking garage and seasonal valet and doorman services.

June 1, 2016

Loans Multifamily New York Northeast

Tremont Realty Capital Secures $6.6M in Refinancing for Housing Community in New York

by Amy Works June 1, 2016

RIVERHEAD, N.Y. — Tremont Realty Capital has arranged a $6.6 million loan for the refinance of Oakland Ridge MHC, a 100-space manufactured housing community located on the north side of Long Island in Riverhead. The non-recourse loan was structured with a 10-year term and a 30-year amortization schedule with two years of interest-only payments. John Chase of Tremont Realty Capital arranged the loan for the undisclosed borrower.

June 1, 2016

Loans Office South Carolina Southeast

VistaPointe Partners Secures $10.9M Refinancing of Office Building in Charleston

by John Nelson June 1, 2016

CHARLESTON, S.C. — VistaPointe Partners has secured $10.9 million in refinancing for a 90,334-square-foot office building located in the Suncom Center in Charleston. Seth Denison of VistaPointe Partners negotiated the transaction on behalf of the borrower. The building is fully leased to a credit tenant with a lease term expiring in two years. VistaPointe Partners brought in Hart Advisors Group, a firm that specializes in CMBS loan workouts, to extend the tenant’s lease by one year, with an additional five-year option.

June 1, 2016

Georgia Retail Southeast

Bull Realty Brokers $8.4M Sale of Retail Center in Alpharetta

by John Nelson June 1, 2016

ALPHARETTA, GA. — Bull Realty has brokered the $8.4 million sale of Stone Walk at Northpoint, a 36,105-square-foot retail property in Alpharetta. The retail center is positioned near the Haynes Bridge Road entrance to North Point Mall, a 1 million-square-foot, enclosed regional mall. Stone Walk at Northpoint was 70 percent leased at the time of sale to tenants such as Guitar Center, Sola Salon and Scottrade. John Harrison and Austen Wiley of Atlanta-based Bull Realty were the only brokers involved in the deal. CH Retail Fund, a private equity fund based in Dallas, purchased the property from Shops at Stonewalk LLC.

June 1, 2016

Massachusetts Northeast Retail

Colliers Negotiates Acquisition of 500,000 SF Mill Building in Massachusetts

by Amy Works June 1, 2016

LAWRENCE, MASS. — Colliers International has brokered the acquisition of a six-story mill building located at 5 Franklin St. in Lawrence. Portland, Ore.-based Taom Heritage acquired the 500,000-square-foot property for an undisclosed price. The property is architecturally significant and the buyer views the building as a unique opportunity to participate in the revitalization of downtown Lawrence. Austin Smith of Colliers represented the buyer, while TA Sullivan Realty represented the seller, Franklin Hampshire Realty Corp.

June 1, 2016

Hospitality New York Northeast

KZA Realty Brokers $1.9M Acquisition of 32,000 SF Lot in the Bronx

by Amy Works June 1, 2016

NEW YORK CITY — KZA Realty Group has arranged the acquisition of a 32,000-square-foot lot located at 857-859 Concourse Village West in the Bronx. 857-59 Hotel LLC purchased the property from Howard Jaffe of 857 Concourse Village and Nydia Valentin of 859 Concourse Village for $1.9 million. The buyer plans to develop a hotel on the site. Kathy Zamechansky and Dan McVeigh of KZA Realty represented the buyer and sellers in the transaction.

June 1, 2016

Retail Southeast Virginia

Car Pool Car Wash in Richmond Sells for $3.6M in Sale-Leaseback Transaction

by John Nelson June 1, 2016

RICHMOND, VA. — Cushman & Wakefield | Thalhimer has brokered the $3.6 million sale of a Car Pool Car Wash located at 11950 W. Broad St. in Richmond’s Short Pump district. Catharine Spangler of Cushman & Wakefield | Thalhimer represented the undisclosed buyer in the sale-leaseback transaction with the seller and tenant, Car Pool LLC.

June 1, 2016

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