Property Type

Transwestern Brokers $53.5M Sale of Atrium Building in Alexandria

by John Nelson March 4, 2015

ALEXANDRIA, VA. — Transwestern has brokered the $53.5 million sale of the Atrium Building located at 277 S. Washington St. in Alexandria, a Virginia suburb of Washington, D.C. The five-story office building was 90 percent leased at the time of sale. The property features a restaurant and market called Society Fair and a two-level underground parking garage with 232 parking spaces. Joe Friedman and Julian Etches of Transwestern represented the Washington, D.C.-based buyer in the 1031 tax-deferred exchange transaction.

March 4, 2015

Florida Retail Southeast

Davidoff of Geneva to Open 5,000 SF Cigar Store in Tampa

by John Nelson March 4, 2015

TAMPA, FLA. — Davidoff of Geneva USA plans to open a new 5,000-square-foot cigar store in the MetWest International Retail Village in Tampa. The new store, known as “Davidoff of Geneva-Since 1911,” will be the largest Davidoff store in the world and the company’s first licensed flagship store outside of Las Vegas. The company will open the new store in late 2015 in partnership with Jeff and Tanya Borysiewicz, owners of Orlando-based Corona Cigar Co. The new location will be completely humidified and will feature cigar retail space, multiple indoor and outdoor lounges, private lockers and a full bar serving high-end alcoholic beverages.

March 4, 2015

Healthcare North Carolina Southeast

Crosland Southeast, Childress Klein Sign Novant Health to Anchor South Charlotte Development

by John Nelson March 4, 2015

CHARLOTTE, N.C. — Charlotte-based Crosland Southeast and Childress Klein have inked a lease agreement with Novant Health to serve as the medical office anchor of Waverly, a master-planned, mixed-use development that will be located at Providence and Ardrey Kell roads in south Charlotte. Upon its completion in 2016, Waverly will feature a 40,000-square-foot Whole Foods, Novanta Pizzeria Napoletana, Bad Daddy’s Burger Bar, Menchie’s Frozen Yogurt, Modern Salon & Spa, Polished Nail Bar and Quail Dry Cleaners. Gwen Glaeser and Tommy Trimble of CNL Commercial Real Estate represented the developers in the lease transactions. Novant Health will occupy roughly 23,000 square feet of space in Waverly’s first 33,000-square-foot building, which is slated to open this fall. The medical office space will include an urgent care, family healthcare services and physical therapy. Mike Wiles of NAI Southern Real Estate represented Novant in the lease transaction, and the owners were represented internally by James Downs, partner of Crosland Southeast, and Paul DeVine of Childress Klein. Travis Hart of Childress Klein is working on pre-leasing the remaining medical office space.

March 4, 2015

Georgia Mixed-Use Southeast

Cannon Equities Sells Office, Retail Space in Metro Atlanta

by John Nelson March 4, 2015

CUMMING, GA. — Atlanta-based Cannon Equities has sold office and retail space at Vickery Village, a master-planned development located at 5755 S. Vickery St. in Cumming, a suburb of Atlanta. Cannon Equities sold a 57,064-square-foot retail building and a 5,200-square-foot office building in Vickery Village. Fred Victor of Transwestern represented Cannon Equities in the transaction. Evolution Real Estate Partners purchased Vickery Village for an undisclosed amount.

March 4, 2015

612 Hillsborough Chapel Hill North Carolina

Multifamily North Carolina Southeast

Eller Capital Acquires Colonial Arms Apartments in Chapel Hill for $3.6M

by John Nelson March 4, 2015

CHAPEL HILL, N.C. — Eller Capital Partners has acquired Colonial Arms Apartments located at 612 Hillsborough St. in Chapel Hill for $3.6 million. Eller Capital will rebrand the asset as 612 Hillsborough. The apartment community is within walking distance to the University of North Carolina at Chapel Hill campus and downtown Chapel Hill. 612 Hillsborough is Eller Capital’s fourth acquisition in the Chapel Hill area in the past 16 months, with the other three properties being The Apartments at Midtown 501, 86 North Apartments and Timber Hollow Apartments.

March 4, 2015

Industrial New York Northeast

Madison Realty Capital Acquires 215,000 SF Warehouse Facility in Brooklyn

by Amy Works March 4, 2015

NEW YORK CITY — Madison Realty Capital has acquired a warehouse facility located at 29 Ryerson St. in Brooklyn’s Wallabout neighborhood. The vacant eight-story loft property sold for $45 million. MRC plans to convert the 215,000-square-foot property into Class A office space for creative/technology clients. The property features 15-foot ceiling heights, 440 feet of frontage on Ryerson Street and 110 feet of frontage along Flushing Avenue. The name of the seller was not released in the off-market transaction.

March 4, 2015

Northeast Pennsylvania Retail

CBRE Brokers $24.5M Sale of Lawndale Plaza in Philadelphia

by Amy Works March 4, 2015

PHILADELPHIA — CBRE has brokered the sale of Lawndale Plaza, a 93,282-square-foot retail center in Philadelphia. Highland Development Group and The Glenville Group sold the property for $24.5 million to Cedar Realty Trust. Developed in 1998, the property is anchored by a 63,342-square-foot ShopRite. Additional tenants at the 100 percent occupied property include Advance Auto Parts, T-Mobile and Dunkin’ Donuts. Brad Nathanson and Tom Gorman of CBRE represented both parties in the transaction.

March 4, 2015

Multifamily Northeast Pennsylvania

HFF Arranges $11.5M Sale of Multifamily Community in Metro Philadelphia

by Amy Works March 4, 2015

BENSALEM, PA. — HFF has brokered the sale of Crestwood Apartments, a 165-unit multifamily community in Bensalem. Situated on 5.14 acres at 3241 Hulmeville Road, the community features 15 three-story buildings offering a total of 65 one-, 95 two- and five three-bedroom units and 240 parking spaces for tenants and guests. Mark Thomson and Zac Pierce of HFF represented the seller, 3241 Associates LP, in the transaction.

March 4, 2015

Industrial New York Northeast

Marcus & Millichap Brokers $3.5M Sale of Industrial Building in Brooklyn

by Amy Works March 4, 2015

NEW YORK CITY — Marcus & Millichap has brokered the sale of an industrial building located at 190 Morgan Ave. in Brooklyn. The 14,875-square-foot property sold for $3.5 million. Jakub Nowak and James McGuckin of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, and the buyer, a limited liability company, in the deal.

March 4, 2015

Industrial Northeast Pennsylvania

Roddy Inc. Arranges $2.5M Sale of 42,000 SF Industrial Property in Pennsylvania

by Amy Works March 4, 2015

BENSALEM, PA. — Bensalem-based Roddy Inc. has brokered the sale of an industrial building located at 1436 Wells Drive in Bensalem. Alexandria Ventures III LLC sold the property for $2.5 million to 1436 Wells Drive Associates LLC. The 42,000-square-foot building consists of three industrial condominium units featuring 19-foot ceiling heights and 1,798 square feet of office space. Universal Asset Recovery LLC, a wholesale supplier of used office equipment, occupies the facility. Robert Olender of Roddy Inc. represented the seller.

March 4, 2015

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