Property Type

JV Acquires 182,000 SF Laboratory/Office Building in Waltham for $104.2M

by Amy Works August 6, 2015

WALTHAM, MASS. — A joint venture between King Street Properties and Carlyle Group has acquired a laboratory and office building located at 830 Winter St. in Waltham. Intercontinental Real Estate Corp. sold the 182,000-square-foot property for $104.2 million, or $572 per square foot. Built in 2000, the property is designed to accommodate both chemical and biological laboratories. Additional on-site amenities include a full-service cafeteria, outside seating, conference facilities and structured parking. The property was fully leased at the time of sale to tenants including Histogenics Corp., GlaxoSmithKline and ImmunoGen Inc. Chris Skeffington, John Lasher, Roy Sanderman, Jon Varholak and Steve Purpura of Transwestern|RBJ represented the seller and procured the buyer in the transaction.

August 6, 2015

Massachusetts Northeast Office

John Hancock Proposes $350M Redevelopment Project in Boston’s Back Bay

by Amy Works August 6, 2015

BOSTON — John Hancock has filed a letter of intent with the Boston Redevelopment Authority to design and construct an office building in Boston’s Back Bay neighborhood. The $350 million project proposal calls for a 26-story, 625,000-square-foot Class A office tower at 380 Stuart St. If approved, the construction is slated to commence in late 2016, with projected completion date of early 2019. Skidmore Ownings & Merrill and CBT Architects are providing architectural services and Colliers International is serving as project manager for the proposed project.

August 6, 2015

Multifamily Seniors Housing Southeast Virginia

SLIB Arranges $28.5M Sale of Skilled Nursing Facility in Virginia

by John Nelson August 6, 2015

MARTINSVILLE, VA. — Senior Living Investment Brokerage (SLIB) has arranged the $28.5 million sale of Blue Ridge Nursing & Rehabilitation Center, a 300-bed skilled nursing facility in Martinsville. The adjacent assisted living community is also included in the transaction, but is awaiting approval for the assumption of the existing HUD-insured debt. The affiliated operator of the seller, Sovran Management, will continue to manage the communities through a long-term lease with the new owner, which was not identified. Bradley Clousing and Patrick Burke of SLIB handled the transaction.

August 6, 2015

Northeast Pennsylvania Retail

PREIT Sells 700,000 SF Uniontown Mall for $23M

by Amy Works August 6, 2015

UNIONTOWN, PA. — Pennsylvania Real Estate Investment Trust (PREIT) has completed the disposition of Uniontown Mall located at 1368 Mall Run Road in Uniontown. The 700,000-square-foot property sold for $23 million to an undisclosed buyer. The property is anchored by JC Penney, Sears, Bon-Ton, Burlington Coat Factory and Teletech Customer Care. The buyer also separately acquired the fee interest in the ground underlying the mall from an unaffiliated party.

August 6, 2015

North Carolina Retail Southeast

CBRE|Raleigh Arranges 45,500 SF Lease for H Mart

by John Nelson August 6, 2015

CARY, N.C. — On behalf of landlord Centrex Properties Inc., CBRE|Raleigh has arranged a 45,500-square-foot lease with H Mart, an Asian-inspired supermarket chain based in Queens, N.Y. The grocer will anchor the 79,000-square-foot Cornerstone Village, a shopping center located at the intersection of David Drive and High House Road in Cary, a suburb of Raleigh. Other tenants at Cornerstone Village include Sun Tan City, Doherty’s Irish Pub, Fantastic Sams and Eye Care Associates. H Mart plans to open its new store in the second quarter of 2016. Charlie Coyne and Reagan Crabtree of CBRE|Raleigh worked with Pam Hochmuth and Lynda Lange of Centrex Properties in the lease transaction.

August 6, 2015

Mixed-Use Multifamily New York Northeast Retail

Cushman & Wakefield Brokers $15.8M Sale of Mixed-Use Building in Manhattan

by Amy Works August 6, 2015

NEW YORK CITY — Cushman & Wakefield has brokered the sale of a mixed-use building located at 5008 Broadway in Manhattan’s Inwood neighborhood. The six-story property sold for $15.8 million, or approximately $325 per square foot, in an all-cash transaction. The 48,576-square-foot property features five retail units and 47 residential units in a mix of one-, two- and three-bedroom layouts. Robert Shapiro of Cushman & Wakefield handled the transaction. The names of the seller and buyer were not released.

August 6, 2015

California Office Western

Burnham-Ward Properties Buys Newport Beach Office Building

by Nellie Day August 6, 2015

NEWPORT BEACH, CALIF. — Burnham-Ward Properties has acquired a 28,000-square-foot office building in Newport Beach for an undisclosed sum. The building is located at 4220 Von Karman Ave., within the Koll Center Newport master-planned office park. The entire 14,000-square-foot second floor of the office building was pre-leased during escrow to personal injury law firm Bergener & Associates. John Pomer and Ben Gott of Stream Realty and Justin Hodgdon of Newmark Grubb Knight Frank represented both the buyer and lessee in this transaction.

August 6, 2015

California Multifamily Western

The Commodore Apartments in Beverly Hills Sells for $4.7M

by Nellie Day August 6, 2015

BEVERLY HILLS, CALIF. — The Commodore, a 14-unit apartment complex in Beverly Hills, has sold to Paul Ling for $4.7 million. The community is located at 1830 N. Cherokee Ave. It is situated just three blocks from the Golden Triangle on South Rexford Drive. Kevin Kawaoka of NAI Capital represented both the buyer, which was not identified, and seller, Tower Ventures LLC, in this transaction.

August 6, 2015

California Industrial Western

Spacesonic Relocates to Industrial Building in Union City

by Nellie Day August 6, 2015

UNION CITY, CALIF. — Spacesonic is relocating its operations from San Carlos to Union City. The new 70,800-square-foot space is located at 30300 Union City Blvd. Spacesonic manufactures and distributes custom sheet metals. CBRE’s Chip Sutherland and Soroush Kaboli of Soroush Kaboli Brokerage Services represented Spacesonic. Greig Lagomarsino, Sean Sabarese and Nick Ousman of Colliers International’s Oakland office represented the landlord.

August 6, 2015

California Multifamily Western

Long Beach Apartment Building Sells for $4.8M

by Nellie Day August 6, 2015

LONG BEACH, CALIF. — Rdbh LLC has acquired a 27-uinit apartment building in Long Beach for $4.8 million. The community is located at 1101-1121 Gaviota Ave. It was built in 1988. The property is located within the Rose Park historical district near the neighborhoods of Carroll Park and Belmont Heights. The buyer plans to hold this asset long term, according to Stepp Commercial, which represented the buyer. The seller, Lunar Bear Properties II LLC, represented itself. Robert Stepp and Michael Toveg represented Rdbh.

August 6, 2015

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