Property Type

German Investor Buys 101 Seaport Office Building in Boston for $452M

by Nellie Day April 12, 2016

BOSTON — German investor Union Investment Real Estate GmbH has purchased 101 Seaport, a 440,000-square-foot office building in Boston, for $452 million. The seller, Skanska, developed the building, which it also uses as its Boston headquarters. Skanska broke ground on the LEED-Platinum project less than three years ago. At the time, it was Seaport Square’s first office tower. PricewaterhouseCoopers and Red Thread/Steelcase also use the building as New England headquarters. The office building includes an on-site fitness center. It is situated within walking distance of Q-Park, Seaport Square Green and the Harbor Walk, a pedestrian promenade in the city’s Seaport district. The office building is one of Skanska’s three Seaport Boulevard developments. The company is also building 121 Seaport, a neighboring office tower with ground-floor retail, and recently completed Watermark Seaport, a luxury residential tower with ground-floor retail that Skanska developed with Twining Properties. Newmark Grubb Knight Frank’s Robert Griffin Jr., Edward Maher and Matthew Pullen represented Skanska in the transaction. The firm’s Bill Anderson and David Martel represented the company on the leases as well. This is Union Investment’s third recent acquisition in Boston. “After the acquisition of the Godfrey Hotel and the Converse Headquarters at Lovejoy Wharf, we …

April 12, 2016

Arizona Multifamily Western

3rd Ave Investments Buys Sonoma Terrace Apartments in Glendale for $15.3M

by Nellie Day April 11, 2016

GLENDALE, ARIZ. — 3rd Ave Investments has purchased the 260-unit Sonoma Terrace Apartments in Glendale for $15.3 million. The community is located at 5220 W. Northern Ave. It was built in 1979. Trevor Koskovich, Bill Hahn and Jeff Sherman, all with Colliers’ Phoenix office, represented both the buyer and seller, Mentor Properties, in this transaction.

April 11, 2016

Industrial Utah Western

ExtraSpace Signs 50-Year, 42,197 SF Lease at New Facility in Utah

by Nellie Day April 11, 2016

HOLLADAY, UTAH — ExtraSpace has leased 42,197 square feet of space at 5580 S. Van Winkle Expressway in Holladay. The lease is for 50 years. The space is under construction. When completed, it will be a double-deck, climate-controlled storage facility. ExtraSpace Storage is the second largest indoor storage company in the USA, with 1,350 locations. Chris Monson and Brett Palmer of Mountain West Commercial Real Estate represented the landlord in the transaction.

April 11, 2016

California Retail Western

illi Commercial Real Estate Brokers Three Leases in California Totaling 3,264 SF

by Nellie Day April 11, 2016

LOS ANGELES, NORTH HOLLYWOOD AND SANTA CLARITA, CALIF. — illi Commercial Real Estate has arranged three leases totaling 3,264 square feet. In Los Angeles, Wing Factory leased 1,234 square feet of space at 2454 W. Pico Blvd. Gregg Offsay and Dimas Rangel of illi Commercial arranged the leased. In North Hollywood, Kids & Teens Medical Group signed a lease for 1,440 square feet of space at 7544 Laurel Canyon Blvd. Mike Payne of illi represented the tenant, while Sunil Felician De Silva represented the undisclosed landlord in the transaction. In Santa Clarita, Farmers Insurance leased 590 square feet of space at 26256 Bouquet Canyon Road. Jonathan Daniels of illi represented the tenant, while Realty Executives Valencia represented the undisclosed landlord in the deal.

April 11, 2016

California Retail Western

Coldwell Banker Commercial Alliance Arranges Two Sales Totaling $2.2M

by Nellie Day April 11, 2016

NORCO AND WESTMINSTER, CALIF. — Coldwell Banker Commercial Alliance has brokered the sales of two retail properties located in Norco and Westminster. In the first transaction, a private investor acquired a 2,474-square-foot Carl’s Jr. property with Vandermolen Center on Hamner Avenue in Norco. The single-tenant asset sold for $1.2 million. In the second deal, a private 1031 exchange buyer acquired single-tenant Taco Bell property at the intersection of Magnolia Street and Edinger Avenue in Westminster. The 760-square-foot asset, which sits on a 13,681-square-foot parcel, sold for $1 million. Daniel Tyner and Scott Hook of Coldwell Banker Commercial Alliance brokered the transactions.

April 11, 2016

California Retail Western

Rally Auto Group Acquires Vacant Auto Dealership in Palmdale for $2.2M

by Nellie Day April 11, 2016

PALMDALE, CALIF. — Rally Auto Group has acquired a vacant auto dealership located at 421 Auto Center Drive within Palmdale Auto Center in Palmdale. Charman 25 LLC sold the 26,000-square-foot asset for $2.2 million. The buyer plans to use the site for Rally Hyundai, a new Hyundai dealership slated to open third quarter 2016. Jodi Meade of Avison Young represented the seller and buyer in the transaction.

April 11, 2016

Multifamily New York Northeast

Steiner NYC Launches Sales for 82-Unit Condo Property in Manhattan’s East Village

by Amy Works April 11, 2016

NEW YORK CITY — Steiner NYC has launched sales for residential condominiums at Steiner East Village, a full-service residential condominium development at 438 E. 12th St. in Manhattan’s East Village neighborhood. Designed by S9 Architects, the 82-unit property features an indoor pool, 2,000-square-foot fitness center, sauna, steam room, parking, resident library with fireplace, bike storage, pet spa, children’s playroom and a 4,000-square-foot common roof deck. The units, which were designed by Paris Forino, include 10-foot ceiling heights, oversized windows, marble finishes, wide-plank floors and top-of-the-line appliances. The property features one-, two-, three- and four-bedroom condos and penthouses, with all units starting at $1.1 million.

April 11, 2016

Loans Massachusetts Multifamily Northeast

Fantini & Gorga Secures $5.2M Loan for Boston Apartment Property

by Amy Works April 11, 2016

BOSTON — Fantini & Gorga has arranged $5.2 million in permanent financing for South Huntington Apartments, a multifamily property located at 46-82 S. Huntington Ave. in Boston. Casimir Groblewski and Despina Hatzipetrou of Fantini & Gorga arranged the refinancing with RiverSource Life Insurance Co. for the borrower, a local real estate developer and manager. Consisting of 10 three-story, connected buildings, the property features 108 residential units in a mix of oversized studios and one-bedroom layouts.

April 11, 2016

New Jersey Northeast Office

NAI Hanson Brokers Sale of 30,000 SF Office Building in Downtown Jersey City

by Amy Works April 11, 2016

JERSEY CITY, N.J. — NAI James E. Hanson has arranged the sale of an office building located at 215 14th St. in Jersey City. Adithya Bathena acquired the 30,000-square-foot building from MIS for an undisclosed price. MIS plans to lease back space within the four-story building. The property also features ground-floor retail space that is currently leased to Dunkin’ Donuts. Russell Verducci and Eric Demmers of NAI Hanson represented the buyer, while Dan DePalma of JLL represented the seller in the transaction.

April 11, 2016

Northeast Pennsylvania Retail

PREIT Brings Dick’s Sporting Goods, Field & Stream to Viewmont Mall in Scranton

by Amy Works April 11, 2016

SCRANTON, PA. — PREIT has inked a deal to bring a dual-store format concept to Viewmont Mall in Scranton. Dick’s Sporting Goods and Field & Stream will replace the existing Sears location at the mall. Sears is scheduled to close in July, with the dual-store scheduled to open for business in fall 2017. Over the past few years, PREIT has been implementing an upgrade and improvement program at Viewmont Mall, which features more than 90 retailers, and has recently signed leases with Ulta, Buffalo Wild Wings, Forever 21 and Yankee Candle.

April 11, 2016

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