HOUSTON — Jeffrey Roberts has joined the HFF firm as a chief information officer (CIO) in its Houston office and will be a member of the firm’s leadership team. In this role, Roberts will lead HFF’s information technology (IT) department and strategic technology vision for the firm and manage all aspects of the company’s IT strategy and operations. Roberts has more than 20 years of technology experience running global IT operations for leading corporations. Prior to joining HFF, he was the CIO at Carriage Services (NYSE: CSV), the world’s third-largest holding company of funeral homes and cemeteries. Before joining CSV, he worked as the CIO at Situs, a global commercial real estate advisors/servicer; Saxon Mortgage, a division of Morgan Stanley; and Litton Loan Servicing, a Goldman Sachs company. Roberts holds an executive leadership certificate from Rice University and is a graduate of the University of Tulsa.
BOSTON — Affiliates of Boston-based Rockpoint Group LLC have acquired 99 Summer Street, an office and retail building located in Boston. Cornerstone Real Estate Advisers sold the 20-story property for an undisclosed price. The 270,000-square-foot Class A building was 95 percent occupied at the time of sale. The property will be managed by a Rockpoint affiliate, Rockhill Management, which provides property management and related services for investments made by Rockpoint-sponsored funds.
YORK, PA. — HREC Investment Advisors has arranged the sale of Yorktowne Hotel, a historic, full-service hotel in York. York County Industrial Development Authority acquired the property for an undisclosed price. First opened in 1925, the hotel features 124 guest rooms. The buyer has substantial renovations and improvements planned for the property. Ketan Patel, Kevin Hanley and Geoff Davis of HREC represented the seller, VIII-Hotel II P Loan Portfolio – Yorktowne LLC, in the transaction.
WORCESTER, MASS. — Kelleher & Sadowsky Associates has arranged the sale of an industrial building located at 70 Quinsigamond Ave. in Worcester. Lutco Inc. acquired the 65,000-square-foot property from A.M. Castle Metals Co. for an undisclosed price. The buyer plans to make several improvements, including significant electrical upgrades, to the property in January 2016.William Kelleher IV and Matthew Mayrand of Kelleher & Sadowsky Associates brokered the transaction.
MANCHESTER, N.H. — Brady Sullivan Properties, in partnership with the Anagnost Companies, has acquired three mixed-use properties in Manchester for $4.2 million. The properties include 75, 85 and 95 Faltin Drive, which were part of the former Osram Sylvania complex. The three assets offer more than 51,000 square feet of office, warehouse and flex space. Building 1 includes 18,625 of office and warehouse space; building 2 consists of 15,405 square feet of office and warehouse space with loading docks; and building 3 is a 17,605-square-foot warehouse property with 10 loading docks and 16-foot high ceilings. Charles Panasis of Brady Sullivan Properties negotiated the transaction. The name of the seller was not released.
NEW YORK CITY — Ariel Property Advisors has arranged the sale of a multifamily property located at 161 E. 96th St. in Manhattan. Encore Manhattan LLC acquired the 9,160-square-foot property from a private investor for $6.5 million. The five-story building features 19 large studio apartments. Additionally, the property offers significant future development potential as R104 zoning providing approximately 25,230 buildable square feet as-of-right, or 16,070 square feet of air rights over the existing structure. Michael Tortorici, Howard Raber, Shimon Shkury, Victor Sozio and Matthew Gillis of Ariel Properties Advisors represented the seller and procured the buyer in the transaction.
MINNEAPOLIS — Golub & Co. and Oaktree Capital Group LLC have acquired RSM Plaza in downtown Minneapolis for an undisclosed price. The building, formerly known as McGladrey Plaza, is a 415,000-square-foot office tower. The duo also acquired an 850-stall parking garage at the corner of 8th Street and Nicollet Avenue. The asset was purchased from United Properties and the building represented the largest company-owned asset that United Properties has sold in its nearly 100-year history. Tenants in the RSM Plaza include RSM (formerly McGladrey), Amec Foster Wheeler, Unilever, the Clorox Company, Abbott Nutrition, Portico Benefits, First American Title Insurance Co., Panera Bread and Barnes & Noble. Golub and its partners plan to conduct a $10 million renovation, which is slated for completion in mid-2017. The renovation will include improvements to the building common areas as well as the addition of amenities such as a fitness center, conference center, tenant lounge and improvements to the parking garage and retail areas. Scott Pollock of Cushman & Wakefield/NorthMarq represented United Properties in the transaction. Adam Short of Cushman & Wakefield/NorthMarq represented the Golub acquisition team.
CINCINNATI — Cincinnati-based Phillips Edison Grocery Center REIT II Inc. has acquired three grocery-anchored shopping centers throughout Ohio and Illinois for an undisclosed price. Amherst Marketplace, anchored by Giant Eagle, is a 79,945-square-foot retail facility located in Amherst, Ohio, approximately 34 miles east of downtown Cleveland. Other tenants at the center include Get Go Gas, Monster Tan and Best Cuts. Sheffield Crossing is an 113,688-square-foot shopping center that is also anchored by Giant Eagle. The property is located in Sheffield Village, Ohio, approximately 25 miles east of downtown Cleveland. Tenants at Sheffield Crossing include Edward Jones, Great Clips, Weight Watchers and Verizon Wireless. The Shoppes at Windmill Place is located in Batavia, Ill., approximately 43 miles west of Chicago and is a 122,176-square-foot retail property. Jewel Osco anchors the center, and other tenants include Dunkin Donuts, Mattress Firm, Zano Salon, Hair Cuttery, Subway, Hallmark and GNC.
ELK GROVE VILLAGE, ILL. — Entre Commercial Realty LLC has arranged an 11,200-square-foot industrial lease in Elk Grove Village, approximately 23 miles northwest of Chicago. The lease is for Peet’s Coffee & Tea, which will use the site at 1950 Devon Ave. as distribution space. The building totals 98,445 square feet and can accommodate multiple tenants. The facility is situated on 5.6 acres. The lease space features 18-foot clear heights, two shared docks and a private drive-in door. Dan Benassi, Dan Jones and Mike DeSerto of Entre represented the landlord, Bristol Group Inc. Joe Bronson of NAI Hiffman represented the tenant in the transaction.
MENOMONIE, WIS. — Marcus & Millichap has brokered the $1.6 million sale of a 44-unit portfolio in Menomonie, approximately 25 miles west of Eau Claire. The six-building portfolio consists of five residential buildings that contain 44 total units and one eight-stall garage building. The 44 units are broken down into 36 two-bedroom/one-bathroom units and eight one-bedroom/one-bathroom units. The six buildings were constructed between 1977 and 1987. The apartment assets have undergone upgrades including roof replacement, vinyl siding, and new windows, flooring and appliances. Evan Miller, Mox Gunderson and Dan Linnell of Marcus & Millichap listed the property on behalf of the seller, a private investor. Cole Harstad of Marcus & Millichap procured and represented the buyer, a private investor.