HOUSTON — JLL has arranged the sale of a 94,475-square-foot Access Self Storage facility located at 650 Bay Area Blvd. in Houston. The Class A property opened in 2015 and is comprised of one three-story self-storage building consisting of 800 climate-controlled units and 39 non-climate controlled units. The facility, acquired by Simply Self Storage, offers 24-hour video surveillance and a customer service office designed for retail sales. Steve Mellon and Brian Somoza of JLL brokered the sale, and Griffin Guthneck of JLL secured acquisition financing on behalf of the buyer. The seller was undisclosed.
Property Type
FRISCO, TEXAS — The Vitorino Group has arranged the sale of a freestanding retail property ground leased to McDonald’s in Frisco. The restaurant is located on Custer Road near State Highway 121 and will eventually serve as an outparcel to a Walmart Supercenter. The buyer, a Canadian doctor, purchased the McDonald’s from a local partnership for an undisclosed price. The Vitorino Group represented the seller, and an unnamed broker based in Dallas secured the buyer.
STRATFORD, CONN. — Exeter Property Group has acquired Stratford Industrial Park, a four-building industrial park located at 500-650 Long Beach Blvd. in Stratford. Stratford Development sold the 428,000-square-foot asset for $41 million. Situated on 34 acres, the park is 100 percent occupied by a variety of tenants, including Starbucks Coffee, FedEx Ground, Carrier Corp. and Endo Industrial. Kyle Schmidt, Gary Gabriel, Andrew Merin, David Bernhaut, Al Mirin and Kate Schwartz of Cushman & Wakefield brokered the deal.
SECAUCUS, N.J. — G.S. Wilcox & Co. has arranged $25 million in financing for a 338,661-square-foot single-tenant warehouse facility located in Secaucus. Financed by Thrivent Financial, the loan features a fixed rate for five years and a 30-year amortization schedule. The 338,661-square-foot property is currently net leased by Staples. Gretchen Wilcox and Al Raymond of G.S. Wilcox originated the loan for the undisclosed borrower.
NEW YORK CITY — Q10 New York Realty Advisors has arranged a $15.5 million permanent loan for a hotel in New York City. The fixed-rate loan was a cash-out refinance of more than $3 million. Located near Jacob Javits Convention Center, the limited-service hotel features 80 guest rooms.
NEW YORK CITY — Ariel Property Advisors has arranged the sale of a retail strip center located at 1943-1955 Westchester Ave. in the Parkchester section of the Bronx. A private investor purchased the property from Vanbarton Group for $7.8 million, or $861 per square foot. At the time of sale, the 9,000-square-foot property was fully occupied by commercial tenants, including H&R Block, GNC, Petland and a furniture store. The property is zoned for R6/C1-2, which allows for an additional 21,009 square feet of air rights. Victor Sozio, Shimon Shkury, Jason Gold, Scot Hirschfield and Marko Agbaba of Ariel Property Advisors represented the seller and procured the buyer.
KANSAS CITY, KAN. — Block & Company Inc. Realtors has brokered the sale of a 2.7-acre pad site that will be home to a Homewood Suites by Hilton. The hotel will be part of Phase V of the Plaza at the Speedway development in Kansas City, which is an 850,000-square-foot retail power center. Baywood Hotels Inc. purchased the pad site located at 10922 Parallel Parkway. Tenants at the center include Walmart Supercenter, Sam’s Club, Kohl’s, Taco Bell, Olive Garden, Red Lobster, Chick-Fil-A, Jack in the Box, Wendy’s and Logan’s Roadhouse. David Block, Alex Block and Max Kosoglad of Block & Co. represented the seller, Plaza Speedway Development Inc., in the transaction.
NEW YORK CITY — Sugar Hill Partners has acquired a multifamily building located at 615 W. 136th St. in Manhattan. A Florida-based family trust sold the property for $7.8 million. Built in 1908, the 19,270-square-foot property features 20 apartments. Peter Vanderpool and Lazer Sternhell of Cignature Realty represented the buyer and the seller in the deal.
CHICAGO — Summit Design + Build LLC has completed a 120,000-square-foot renovation for Economy Packing, Chicago’s largest direct receiver of meat and seafood that was founded in 1932. The facility, located at 4501 W. Ann Lurie Place within the Crawford Industrial Park in Chicago, is Economy Packing’s new warehouse and distribution facility after the company sold four buildings in the Fulton Market meatpacking district last year. The building includes roughly 10,000 square feet of office space, 95,000 square feet of warehouse space and 15,000 square feet of completely upgraded freezer space. The renovation also included the addition of 20 refrigerated loading docks. Alan R. Schneider Architects provided architectural services for the project.
LIVONIA, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of a 27,225-square-foot industrial building in Livonia, approximately 20 miles northwest of Detroit, for an undisclosed price. Silvio Properties LLC sold the building to Smith-Watkins Investments LLC. The building is located at 31520 Pamco Drive. David Friedman and Phil Konopitski of Friedman Integrated Real Estate Solutions represented the seller in the transaction.