NEW YORK CITY — Marcus & Millichap has arranged the sale of a mixed-use property located at 1208 Nostrand Ave. in Brooklyn. The 7,128-square-foot asset sold for $2.2 million. Derek Bestreich, Erik Rodriguez and Seth Schiffman of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, and secured the buyer, a limited liability company, in the transaction.
JERSEY CITY, N.J. — SunGard Financial Systems LLC has signed a long-term lease for 41,061 square feet of space at Harborside Plaza 3 in Jersey City. The leading global financial software company will occupy the office space through 2023. Harborside offers 3.1 million square feet of Class A office space and first-class amenities, including retail, restaurants, a waterfront walkway and a Hyatt Regency hotel. Aaron Ellison and Tyler Vandergrift of Jones Lang LaSalle represented SunGard Financial, while Tom Savoca of Mack-Cali and Mark Ravesloot, Peter Turchin, David Opper, Gerry Miovski, Arkady Smolyansky and Suzanne Macnow of CBRE represented the landlord, Mack-Cali Realty Corp., in the transaction.
WAUNAKEE, WIS. — Quantum Real Estate Advisors Inc. has brokered the $1.8 million sale of a 24,960-square-foot truck terminal located at 900 Uniek Drive in Waunakee, approximately 12 miles north of Madison. The terminal is within the Waunakee Business Park. Saia Motor Freight Line occupies the single-tenant industrial building. The buyer and seller in the transaction were undisclosed. Chad Firsel of Quantum was the sole broker.
MINNEAPOLIS — City Center Realty Partners LLC has signed auditing and consulting firm PricewaterhouseCoopers (PwC) to a 66,304-square-foot office lease at Plaza Seven in downtown Minneapolis. Plaza Seven is a Class A office building located in the heart of the Nicollet Mall corridor. PwC will occupy four-and-a-half floors at the top of the mixed-use tower. The office space is 335,000 square feet and sits on top of the Radisson Blu Hotel, which recently underwent a multi-million dollar renovation undertaken by City Center Realty Partners. The Radisson Hotel occupies floors 3-16 of the Plaza Seven building, with the office tower occupying floors 17-36. The first three floors of the tower are allocated for parking. The lease term is 12.5 years, and PwC will move into its new location in mid-2016. PwC has acquired naming rights to Plaza Seven and will rename the building in the coming months. The lease signing brings the building to 100 percent occupancy. Other tenants include Epsilon, Northland Securities, Haworth Marketing + Media and Jacobs Marketing. JLL represented the owner, San Francisco-based City Center Realty Partners, in the transaction. CBRE and Frauenshuh represented PwC. Angelo, Gordon & Co. served as investment advisor to City Center Realty Partners.
NAPERVILLE, ILL. — An affiliate of Equus Capital Partners Ltd. has acquired an office building located at 55 Shuman Blvd. in Naperville, a western suburb of Chicago, for an undisclosed price. The 205,282-square-foot MetroWest building was 92 percent occupied at the time of sale. Tenants include Wells Fargo, Dun & Bradstreet, Stanley Convergent Security Solutions and UPM Kymmene Inc. Paul Lundstedt, Dan Deuter, Tom Sitz and Cody Huntermark of CBRE represented the seller, a joint venture between Franklin Partners LLC and Bixby Bridge Capital LLC. The property was built in 1986 and is situated on 11.3 acres. The 10-story office building includes a front patio, outdoor putting green, fitness center, deli, conference room and 598 surface parking spaces. The acquisition was made on behalf of Equus Investment Partnership X LP.
COLUMBUS, OHIO — Hillwood Investment Properties has acquired Rickenbacker 8, a 484,216-square-foot industrial property located in Columbus, for an undisclosed price. The Class A warehouse was completed in 2014. Hillwood Investment acquired the property from Founders Capital. Features include 32-foot clear heights, trailer storage, ESFR sprinklers and ample car parking. The building is currently available for lease. Dan Wendork, Steve Kuhr and Adam Bornhorst of JLL brokered the transaction.
ITASCA, ILL. — PREMIER Design + Build Group LLC has broken ground on a children’s pediatric medical office building in Lake in the Hills, a village in Itasca about 30 miles northwest of Chicago. The 5,118-square-foot building was commissioned by Children’s Medical Group S.C. and is slated to open in early 2016. The medical office will feature 12 patient exam rooms, two treatment rooms, a dedicated breastfeeding room and separate waiting and exam rooms for sick and well children.
MARIETTA, GA. — Greystone has provided a $58 million bridge loan to recapitalize the ownership of Watermark at East Cobb, a 510-unit apartment property in Marietta, a northern suburb of Atlanta. The apartment community features two resort-style pools, tennis courts, an athletic center, playground, volleyball courts, outdoor kitchen, nature trail, fishing lake and a pet park. Keith Hires and Greg Krafcik of Greystone originated the three-year bridge loan on behalf of the borrower, Cortland Partners. Mike Galla and David Collie of iCap Realty Advisors arranged the loan, which Cortland Partners will use to repay current debt, recapitalize membership interests and position for permanent financing.
FREDERICK, MD. — Inland Residential Properties Trust Inc., a non-listed REIT sponsored by Inland Real Estate Investment Corp., has purchased The Haven at Market Square, a 206-unit apartment community in the Baltimore suburb of Frederick, for approximately $45.8 million. Built in 2014 and located at 300 Cormorant Place, Inland Residential will soon rebrand the property as The Retreat at Market Square. Each unit at the property features 9-foot ceilings, gourmet kitchens and full-size washer and dryer units, and select units feature private screened-in balconies or sunrooms. The multifamily community’s amenities include a clubhouse with a 24-hour fitness center, community kitchen, Internet café, sports simulator, resort-style swimming pool, two grilling areas, an outdoor fireplace and a playground. Joe Cosenza of Inland Real Estate Acquisitions facilitated the purchase on behalf of Inland Residential.
WARNER ROBINS, GA. — Lincoln Property Co. Southeast and SRS Real Estate Partners have arranged the $23 million sale of City Crossing, a 298,933-square-foot regional power center located at 2620 Watson Blvd. in Warner Robins, roughly 20 miles south of Macon, Ga. The property was 86 percent leased at the time of sale to tenants such as The Home Depot (not part of the transaction), Ross Dress for Less, HomeGoods, Old Navy and Michaels. D&J Real Estate Management purchased the property from Wells Fargo Bank NA. Tony Bartlett and Chris Sipple of Lincoln, along with Kyle Stonis and Pierce Mayson of SRS, represented the seller in the transaction. Wells Fargo engaged Lincoln Property Co. Southeast in 2012 as the receiver of the asset, and the Dallas-based firm leased and managed the asset during that time.