WAUKESHA, WIS. — The Dickman Company Inc. has arranged the sale of an industrial property located at 310 S. West Ave. in Waukesha. The State of Wisconsin Department of Transportation sold the 19,250-square-foot property for an undisclosed price to Soraal LLC. Samuel D. Dickman, Samuel M. Dickman Jr. and Zach Noble of The Dickman Company Inc. represented the seller, while Brian Parrish of PARADIGM Real Estate represented the buyer in the transaction.
CHICAGO — Zeller Realty Group’s 1.3 million-square-foot 311 South Wacker office property has received LEED Silver certification from the U.S. Green Building Council. Zeller Realty Group acquired the property in March 2014 and implemented a capital improvements program that included upgraded infrastructure, improved retail offerings and the construction of a 21,500-square-foot tenant lounge and conference center. To achieve LEED Silver certification, Zeller implemented a sustainable site development, water savings, energy efficiency, materials selection and indoor environmental air quality program to upgrade the property.
LATHRUP VILLAGE, MICH. — Friedman Integrated Real Estate Solutions has arranged the sale of an office building located at 26221 Southfield Road in Lathrup Village. Williamsburg LLC sold the property, which is located within Williamsburg Plaza South, to Dr. Quadir Jaleel of OMJ Building LLC for an undisclosed price. Dan Verderbar of Friedman represented both the seller and buyer in the transaction.
NEW YORK CITY — Hines, along with Pacolet Milliken Enterprises and institutional investors advised by J.P. Morgan Asset Management, have sold 7 Bryant Park in New York City to an institutional investor for an undisclosed price. Located between West 39th and 40th streets, the 30-story, 470,000-square-foot property was designed by Henry N. Cobb and Yvonne Szeto of Pei Cobb Freed & Partners. Currently, floors 15 through 27 and a first-floor retail space are available for lease. Hines has assumed on-site management responsibilities and CBRE has been selected as the exclusive leasing agent for the property. Phillips Lytle and Proskauer advised on the transaction.
CROMWELL, CONN. — O,R&L Commercial has brokered the sale of a flex building located at 800 Corporate Row in Cromwell. Buhl Land East IV LLC sold the 12,750-square-foot property for $1.05 million to Matthew Esler. The property features four drive-in doors and two loading docks. Renewal by Andersen will occupy the facility for its marketing and sales office, as well as a distribution hub for doors and windows. Frank Hird of O,R&L Commercial represented the seller, while Bob Gaucher, also of O,R&L, represented the buyer in the transaction.
NEW YORK CITY — Rosewood Realty Group has brokered the sale of a multifamily property located at 805 St. Marks Ave. in Brooklyn’s Crown Heights neighborhood. Akelius Residential Property, the U.S. arm of Sweden-based Akelius, purchased the six-story, 172,000-square-foot property for $44 million, or 18.85 times the current rent roll. The property features 200 rent-stabilized and rent-controlled apartment units. Aaron Jungreis of Rosewood represented the seller, Burke Leighton Asset Management, while Billy Billitzer of Rosewood represented the buyer in the transaction.
EL PASO, TEXAS — Cypress Equities plans to renovate Bassett Place mall’s food court and add the area’s first Dave & Buster’s into the current merchant roster. Dave & Buster’s anticipates the opening of the new El Paso location at Bassett Place later this year. To make way for the nearly 36,000-square-foot entertainment destination, Bassett Place’s Café Plaza Food Court will be redeveloped into a smaller six-unit facility. The existing food court will be closed for the remainder of 2015, with new eateries slated to open during the first quarter of 2016. Built in 1962 on 56 acres of what was then the far-east side of El Paso, Bassett Place is El Paso’s original shopping center. The development is anchored by Costco Wholesale, Kohl’s, Ross, Target and Premiere Cinemas + IMAX. Specialty shops include Finish Line, Rack Room Shoes, David’s Bridal, GameStop, rue21, Express, F.Y.E and Office Depot.
GRAPEVINE, TEXAS — Kubota Tractor Corp. (KTC) and Kubota Credit Corp. (KCC) will relocate its headquarters to Grapevine. Both companies are U.S. subsidiaries of Kubota Corp., based in Osaka, Japan, and have been planning for increased efficiency on the heels of recent expansions and an aggressive growth strategy. The move will affect about 180 employees and is expected to happen within the next 18 months. The move of Kubota’s entire Torrance, Calif. corporate headquarters to Texas is designed to put Kubota’s leadership and professional staff closer to Kubota’s major markets and its manufacturing, assembly and distribution facilities in Georgia and Kansas. The new headquarters will be large enough to initially accommodate 400 employees with room for expansion.
COLLEYVILLE, TEXAS — Greenbrier Cos. is expanding its product development and quality engineering offices in Colleyville. In 2014, Greenbrier leased 5,993 square feet in 99 Main, Suite 200, in the Village at Colleyville. The company has leased an additional 4,480 square feet, which is all of Suite 300, for a total of just under 10,000 square feet. Martin Graham of Greenbrier Cos. represented the firm in the lease negotiations. Debra Perryman and LeAnn Brown of Silver Oak Commercial Real Estate represented the building owner, Austin-based CCI.
CORPUS CHRISTI, TEXAS — Marcus & Millichap has arranged the sale of Logan’s Roadhouse, a 6,165-square-foot net-leased property located in Corpus Christi. Jason Vitorino, Adam Gottschalk and Jared Aubrey of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a private investor. Vitorino, Gottschalk and Aubrey also procured the buyer, a local private investor. Logan’s Roadhouse is located at 5057 S. Padre Island Drive in Corpus Christi, adjacent to Highway 358. Built in 2007, the asset is a pad site to Academy Sports+ Outdoors, Walmart and Home Depot. At the time of listing, Logan’s Roadhouse had 13 years remaining of its original 20-year net lease.
