HARTFORD, WIS. — Siegel-Gallagher has arranged the sale of a 2,100-square-foot office building in Hartford, approximately 40 miles northwest of Milwaukee, for an undisclosed price. The Thomas L. Kissel and Ruth R. Kissel Revocable Trust sold the property known as the Kissel Law Office to an undisclosed buyer. The building is located a 6140 W. State Road 60. Devin Tessmer of Siegel-Gallagher brokered the transaction.
SAN FRANCISCO — HFF has arranged $144.3 million in financing for Centennial Towers, a 340,000-square-foot office building in South San Francisco. The 12-story tower is located at 1 Tower Place. The loan will be used to finance the Class A property’s acquisition and repositioning. Phase 3 Real Estate Partners will develop the project, converting the space into a science facility rebranded as Genesis. Centennial Towers is located within a one-mile radius of major biotech and life sciences companies like Genentech and Amgen. It offers easy access to Highway 101, which links downtown San Francisco to Silicon Valley. HFF’s Tim Wright, Todd Sugimoto and Zack Holderman originated the loan.
FULLERTON, CALIF. — Evans Senior Investments has arranged the sale of Sunnycrest, a private-pay assisted living community in Fullerton in northern Orange County, for $37 million. The community was recently remodeled and includes 130 units, resulting in a price per unit of $284,615. The buyer and seller were not disclosed. Orange County experienced 45 percent growth in the 85+ age demographic between 2000 and 2010, according to the U.S. census. Evans Senior Investments is an investment-banking firm exclusively serving the seniors housing industry.
TUCSON, ARIZ. — An unnamed buyer has acquired a 320-unit apartment complex in Tucson for $33.6 million. The community was built in 1995. The seller was Independence Realty Trust (IRT). The firm will utilize the net cash proceeds to reduce its outstanding debt and for general corporate purposes. The firm is currently in the process of selling properties that fall outside its geographic focus.
SAN DIEGO — Extra Space Storage has purchased the 1,300-unit Del Sol Self Storage in San Diego for $9.5 million. The space is located at 3055 Del St. The property features nearly 60,000 square feet of self-storage space, as well as 73 RV and boat storage spaces. The seller was M4 Management. Stephen Grossman of NAI Capital executed the transaction.
TUSTIN, CALIF. — A 23-unit apartment complex in Tustin has sold to Nisson Rd LLC for $3.5 million. The community is located at 1431 Nisson Road. It was built in 1961. The property is fully occupied. Steve Heri and Steve Gim of NAI Capital represented both the buyer and seller, Cal Receivers, in this transaction.
PARAMUS, N.J. — A partnership between Advance Realty and Invesco Real Estate has acquired a four-property, 244,000-square-foot retail portfolio located on Route 17 in Paramus for an undisclosed price. Three of the buildings are situated at 289-315 Route 17 South, while the fourth property is located at 60 Route 17 North. The assets on Route 17 South feature two standalone buildings that are occupied by PGA Tour Superstore and P.C. Richard & Son, while the third property is an older 72,184-square-foot office building that the buyer plans to redevelop. The 60 Route 17 North property is a 74,900-square-foot power center featuring a variety of tenants, including DSW Designer Shoe Warehouse, PetSmart and a 25,000-square-foot Staples store that will be re-tenanted. Christopher Bellapianta of Advance Realty led the joint venture partnership in the acquisition. The name of the seller was not released.
PHILADELPHIA, BOSTON AND WASHINGTON, D.C. — Modell’s Sporting Goods has acquired three new locations in major cities on the East Coast. The company has acquired 1608 Walnut St. in Philadelphia, 480 Boylston St. in Boston and 715 Seventh St. NW in Washington, D.C., from City Sports for an undisclosed price. Modell’s Sporting Goods will transition the three locations, ranging from 7,500 square feet to 9,000 square feet, from City Sports retailers in early 2016. The acquisition of these locations brings Modell’s total store count to 160 locations in 10 states.
HANOVER, N.J. — Vision Real Estate Partners (VREP) and Rubenstein Partners are ahead of schedule and on budget for the construction of the MetLife Investments Global Headquarters at 67 Whippany Road in Hanover. The 185,000-square-foot, build-to-suit facility is situated adjacent to Bayer Healthcare’s East Coast headquarters. Designed to achieve LEED certification, the facility features an open floor plan with collaborative workspaces, breakout rooms, conference facilities, food court with indoor and outdoor seating, café, fitness center and ample parking. VREP and Rubenstein purchased the site, a former Alcatel-Lucent Campus, in 2010. The MetLife building anchors the redevelopment’s 100-acre South Campus component, with remaining 94 acres housing the 675,000-square-foot Bayer Healthcare facility.
NEW YORK CITY — The Port Authority of New York and New Jersey and The Durst Organization have announced that One World Trade Center is ending the year by reaching a major milestone of leasing 2 million square feet of Class A office space. The 1,776-foot tall tower reached this milestone with the signing of two new leases for pre-built space on the property’s 84th floor: a 12,000-square-foot transaction with SHVO, an international developer of luxury residential, hospitality and mixed-use projects; and a 10,000-square-foot lease with Juno Lab, a sharing economy venture. One World Trade Center now includes a roster of 24 tenants in a variety of business sectors, including media, technology, financial services and advertising. The landlord, The Durst Organization, was represented in-house by Karen Kuznick, along with Tara Stacom, Justin Royce, Barry Zeller, Connor Daugstrup and Peter Trivelas of Cushman & Wakefield. Elliott Warren of the Kaufman Organization represented Juno Lab in the transaction, while SHVO was represented in-house.