Property Type

Syndication Partnership Purchases Plano Parkway Business Center

by Haisten Willis January 6, 2016

PLANO, TEXAS — Plano Parkway Business Center LLC, a syndication partnership set up by managing partners and promoters Steve Fithian, a Dallas-based commercial broker, and Thomas Wilson, founder of Wilson Investment Properties, has purchased Plano Parkway Business Center, a 113,299-square-foot office complex located at 2701 W. Plano Parkway in Plano. Steve Simon and Steve Rowland of Transwestern represented the seller, Plano Plaza LLC, in the transaction. Fithian represented the buyer. The office building was built in 1998. SVN | Trinity Advisors will manage the property, which is located on 8.8 acres just north of the George Bush Turnpike Corridor between the Dallas North Tollway (SH-190) and Central Expressway (US-75). Tenants include Republic Title of Texas, Wizetrade, Patient-Physician Network and Teradyne.

January 6, 2016

ML Realty Partners Finalizes Purchase of Industrial Building in DFW Airport Corridor

by Haisten Willis January 6, 2016

GRAPEVINE, TEXAS —ML Realty Partners has acquired a 58,775-square-foot industrial building in Grapevine. The single-tenant warehouse facility is 100 percent leased and located at 600 Westport Parkway. The property’s location offers access to both Dallas and Fort Worth, with the eastern property line bordering Dallas-Fort Worth International Airport. The building’s design includes 3.5 acres of secure, paved outside storage. Tyson Erwin of NAI Robert Lynn represented the seller in the transaction.

January 6, 2016

Industrial Texas

Lee & Associates Negotiates 25,600 SF Industrial Lease in Metro Dallas

by Haisten Willis January 6, 2016

RICHARDSON, TEXAS — Lee & Associates has completed a lease renewal transaction for 25,600 square feet of flex/office space located at 1350 N. Glenville Drive in Richardson. Brett Lewis and George Tanghongs of Lee & Associates’ Dallas/Fort Worth office represented the landlord, TPG. Mike Kay of CBRE represented the tenant, Extend Health Inc.

January 6, 2016

Industrial Texas

HFF Arranges Joint Venture Equity for Self-Storage Development Near Houston

by Haisten Willis January 6, 2016

SPRING, TEXAS — HFF has arranged joint venture equity for the development of a Class A, 851-unit self-storage facility in The Vintage master-planned community in Spring. HFF worked on behalf of the development manager, Vintage Hannah One, to arrange a joint venture equity partnership with an unnamed partner. Scheduled for completion in late 2016, the project will consist of four buildings totaling 82,675 square feet situated on 5.8 acres. Barbara Guffey led the HFF self-storage team representing the development manager.

January 6, 2016

Industrial Multifamily Office Retail Texas

NOVUS Brokers Sale of 11-Acre Tract on Highway 380 in Metro Dallas

by Haisten Willis January 6, 2016

PRINCETON, TEXAS — NOVUS Realty Advisors’ Tom Grunnah has completed the sale 11 acres for client and former property owner Wells Fargo Bank NA. The land is located at the southwest corner of the US Highway 380 and Cypress Bend intersection, just east of downtown McKinney in Princeton. The buyer, F&L LLP, plans to divide the property and sell commercial pad sites to end users.

January 6, 2016

Northeast Pennsylvania Retail

Katz Properties Acquires Chambersburg Crossing in Pennsylvania for $45M

by Amy Works January 6, 2016

CHAMBERSBURG, PA. — New York City-based Katz Properties has acquired Chambersburg Crossing, a shopping center located at 925 Norland Ave. in Chambersburg, for $45 million. The 400,000-square-foot property is fully occupied by a variety of tenants, including Giant Food, Kohl’s, Staples, Michaels, PetSmart, Chipotle, Olympia Sports, Red Robin, Panera Bread, Five Below, TGI Friday’s, Rue21 and Subway. R. William Kent and Ryan Sciullo of CBRE represented Katz Properties and the undisclosed seller in the transaction. Leasing and property management services will be provided by Winslow Property Management, an affiliate of Katz Properties.

January 6, 2016

New Jersey Northeast Office

Stan Johnson Co. Brokers $22.2M Sale of IMS Health Global Headquarters in New Jersey

by Amy Works January 6, 2016

PARSIPPANY, N.J. — Stan Johnson Co. has brokered the sale of IMS Health Global Headquarters, a medical office building located at 100 IMS Drive in Parsippany. Maryland Associates Limited acquired the 83,477-square-foot property, which is situated on 2.9 acres, from Commercial Realty Group Inc. for $22.2 million. The building’s lease is guaranteed by IMS Health. Joshua Pardue and Tom Georges of Stan Johnson Co. represented the seller and buyer in the transaction.

January 6, 2016

Northeast Office Pennsylvania

Keystone Property Group Acquires 245,000 SF Office Building in Pennsylvania

by Amy Works January 6, 2016

BALA CYNWYD, PA. — Keystone Property Group has acquired an office building located at One Belmont Avenue in Bala Cynwyd from Maguire & Partners for an undisclosed price. Situated in the City Avenue commercial corridor, the property, also known as the GSB Building, comprises 245,000 square feet of office and ground-floor retail space. Keystone plans upgrades for the existing 12-story building, including new elevators, an upgraded HVAC system, enhanced lobbies and restrooms and an improved parking structure. Located on an eight-acre parcel, the property allows for significant additional mixed-use development opportunities. At the time of acquisition, the property was 93 percent occupied. Robert Fahey, Jerome Kranzel, Erin Hannan of CBRE and Gene McHale of Beacon Commercial represented the seller in the transaction.

January 6, 2016

Northeast Pennsylvania Retail

Marcus & Millichap Brokers Sale of 129,945 SF Shopping Center in Pennsylvania

by Amy Works January 6, 2016

EBENSBURG, PA. — Marcus & Millichap has arranged the sale of College Plaza, a 129,945-square-foot shopping center located at 881 Hills Plaza in Ebensburg. A New Jersey-based privately owned real estate investment company purchased the strip center from a tenant-in-common group for an undisclosed price. Situated on 22 acres, the property is occupied by Giant Eagle, Big Lots, Aaron’s, Dollar General, Sherwin Williams, GNC and Pennsylvania Highlands Community Center. Brian Munn, Joshua Ein, Mark Taylor and Dean Zang of Marcus & Millichap represented the seller, while Tim Giambrone, also of Marcus & Millichap, secured and represented the buyer in the transaction.

January 6, 2016

Mixed-Use Multifamily New York Northeast Retail

TerraCRG Arranges $2.2M Sale of Mixed-Use Building in Brooklyn

by Amy Works January 6, 2016

NEW YORK CITY — TerraCRG has arranged the sale of a mixed-use building located at 128-130 Cortelyou Road in Brooklyn’s Kensington neighborhood. Sugar Hill Capital Partners acquired the two-story, eight-unit building for $2.2 million, or approximately $316 per square foot. The property features five ground-floor commercial units and three three-bedroom units on the upper level. Additionally, the property features approximately 4,800 buildable square feet as of right. Adam Hess, Sam Shalumov, Eddie Setton and Kirill Galperin of TerraCRG were the sole brokers in the transaction.

January 6, 2016

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