NEW YORK CITY — Big City Realty has acquired an apartment building located at 605 W. 151st St. in Manhattan’s Hamilton Heights neighborhood. Waterbury Realty Management sold the six-story, 31,000-square-foot property for $7.6 million. Built in 1920, the property features 25 apartment units and 14,136 square feet of air rights. Peter Vanderpool and Lazer Sternhell of Cignature Realty Group represented the buyer and the seller in the deal.
NEW YORK CITY — GFI Realty Services has arranged the sale of a pair of five-story, walk-up apartment buildings in Brooklyn’s Prospect Heights neighborhood. CSG Equities acquired the properties, which are located at 218-220 Park Place, for $6.6 million. The buyer plans to convert the buildings, which total 7,300 square feet, into luxury condominiums. Isaac Moskowitz and Yosef Katz of GFI Realty represented the seller, while Sasha Berg, also of GFI Realty, represented the buyer.
NEW YORK CITY — Marcus & Millichap has arranged the sale of net-leased property located at 310 E. Houston St. in Brooklyn as part of a 1031 exchange. An undisclosed New York-based purchaser acquired the 4,753-square-foot property, which is 15-year absolute net-leased to Manhattan AltSchool, for $6 million. Arthur Kaplan and Lisa Sickinger of Marcus & Millichap represented the seller, a developer. Barbara Dansker and Matt Fotis, also of Marcus & Millichap arranged the sale of property that was relinquished by the buyer.
NORTH HOLLYWOOD, CALIF. — North Hollywood-based iP2 Entertainment has partnered with National Geographic Partners LLC, a joint venture between National Geographic Society and 21st Century Fox, to develop a series of indoor, interactive exploration centers worldwide. Each National Geographic-branded family entertainment center will offer themed attractions, interactive demonstrations and hands-on workshops. Content will be geared toward families with school-aged children, ages five to 12-years-old. The partnership has teamed with K11 to develop its first location in Shenyang, China. The branded center will occupy 4,013 square meters in the Shenyang K11 Art Mall. The location is set to open in summer 2017. A portion of the proceeds from the entertainment centers will support the National Geographic Society’s work in conservation, exploration, research and education.
TUCSON, ARIZ. — Marcus & Millichap has arranged the $1.97 million sale of SurgCenter of Tucson, a 6,300-square-foot, net-leased property in Tucson. Jamie Medress, Mark Ruble and Chris Lind of Marcus & Millichap represented the seller, an undisclosed developer, in the sale of the property to an undisclosed limited liability company.
ATLANTA — Atlanta-based Peachtree Hotel Group has purchased 10 hotels in the Southeast and Midwest for a combined $183 million. Four hotels are under contract for acquisition and the other six properties are in various stages of development. PHG’s management arm will operate all 10 hotels upon closing, which is expected within the next 60 days. The four properties under contract for acquisition span nearly 600 rooms and include two Hampton Inns, an Aloft and a DoubleTree conversion. The six hotels under development represent nearly 700 rooms across four states and include Marriott, Hilton, IHG and Starwood brand affiliations. Peachtree’s current portfolio comprises 65 hotel assets totaling 6,672 rooms.
HENDERSON AND NORTH LAS VEGAS, NEV. — Cushman & Wakefield has arranged the sale of four grocery-anchored shopping centers located in Henderson and North Las Vegas. The properties, totaling 336,096 square feet, were sold in four transactions to individual buyers. Michael Hackett and Ryan Schubert of Cushman & Wakefield represented the seller, Donahue Schriber Realty Group, in all four transactions. Assets include Smith’s Food and Drug Store-anchored Pebble Marketplace, Paseo Verde Plaza, Eldorado Plaza and Trader Joe’s-anchored Green Valley Plaza. The centers are home to tenants including Chase Bank, Jack in the Box, Starbucks Coffee, Dollar Tree and Big 5 Sporting Goods.
SLIDELL, LA. — Wells Fargo has provided a $73 million, 10-year loan for Fremaux Town Center, a roughly 635,000-square-foot open-air retail shopping center located at the southwest corner of I-10 and Fremaux Avenue in Slidell. Fremaux Town Center is currently 95 percent leased and jointly owned by affiliates of CBL & Associates Properties Inc. and Stirling Properties LLC. The borrowers used proceeds from the loan to retire two existing construction loans.
LAKE FOREST, CALIF. — Johnny Rockets plans to open 14 additional mall locations this year. In honor of its 30th anniversary, Johnny Rockets recently announced a brand refresh, which included a new restaurant design and logo. The new restaurant design, which was first introduced at Destiny USA Mall in Syracuse, N.Y., includes modern technology, a fresh design and enhanced staff uniforms. Since the refresh, the Destiny USA Mall location has experienced a nearly 22 percent growth in sales, according to the company. In addition to its mall franchise program, Johnny Rockets has expanded into outlet centers, which now attract more shoppers with higher-end retail stores and food offerings according to recent trends. The brand currently operates 18 outlet locations and is planning an additional five in the near future. Founded in 1986, Johnny Rockets operates more than 350 franchise and corporate locations in 28 countries around the world.
ATLANTA — Los Angeles-based sbe and Atlanta-based Trillist Cos. Inc. have partnered to develop the SLS Atlanta Hotel & Residences in Midtown Atlanta. The mixed-use tower will feature 213 hotel room and suites, 56 condominium residences, dining options and meeting spaces. Ranging in size from 1,600 to 4,000 square feet, the residences will feature a mix of two-, three- and four-bedroom units. Trillist and sbe plan to break ground on the tower in early 2017 with completion slated for early 2019. Dakota Development, a subsidiary of sbe, will collaborate with Trillist on the property’s design and concept. SLS Atlanta Hotel & Residences will be situated near the Woodruff Arts Center, High Museum of Art, Midtown Mile and Piedmont Park.
