FAIRBORN, OHIO — Newmark Grubb Knight Frank (NGKF) has brokered the sale of two office buildings located at 2900 and 3000 Presidential Drive within Wright Executive Center in Fairborn, near Dayton. Presidential LP acquired the properties, which total 120,000 square feet, for $5.2 million. The buyer plans to renovate the buildings’ common areas and offer tenant improvement allowances. Benton Benalcazar of NGKF and David Elson of Neyer Management represented the sellers, 2900 Presidential Drive LLC and 3000 Presidential Drive LLC, in the transaction.
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DEWITT, MICH. — Bernard Financial Group has arranged a $4.3 million in refinancing for Alana Woods Apartments, a 92-unit multifamily property located in DeWitt, near Lansing. Kevin Kovachevich of Bernard Financial originated the loan for the borrower, Alana Woods Apartments LLC. Bernard Financial Group will be fully servicing the loan.
OSHKOSH, WIS. — The Morgan Partners has broken ground on a 35,000-square-foot Dick’s Sporting Goods location in Oshkosh. The retail store’s 7.8-acre site, located at Interstate 41 and Highway 21, will feature a junior box co-tenant and multiple outlot tenants. Neighboring retailers include Lowe’s Home Improvement Warehouse, Menards and Festival Foods. Grant Schwab of The Morgan Partners led the negotiations for the development team, while Jon Reese of Great Street Realty Partners and Dan Cohen of Mid-America Real Estate-Wisconsin represented Dick’s Sporting Goods in the deal.
MEARS, MICH. — Signature Associates has brokered the sale of a retail building, located at 527 18th Ave. in Mears, approximately 25 miles south of Ludington near Lake Michigan. Northwind Construction acquired the 2,560-square-foot property for an undisclosed sum. Bryan Bench of Cushman & Wakefield |Signature Associates represented the seller, Cook’s Lakeside Marine & Repair Services, in the transaction.
SANDUSKY, OHIO — Marcus & Millichap has arranged the sale of Add More Storage, a self-storage facility located at 2908 Venice Road in Sandusky. Situated on nearly six acres, the property features 401 storage units, ranging from 64 to 336 square feet. A limited liability company acquired the asset for $1.2 million. Joseph Holloway and Brett Hatcher of Marcus & Millichap represented the seller, also a limited liability company, and secured the buyer in the transaction.
NEW YORK CITY — Abro Management has acquired Hudson East, a multifamily rental building located at 223-237 East Sixth St. in New York City’s East Village. The 92,000-square-foot property sold for $60 million. Originally built in 1997, the six-story property features 86 rental units, with rents ranging from $4,950 to $6,300 per month. Aaron Jungreis and Devin Cohen of Rosewood Realty Group represented the buyer in the transaction. The name of the seller was not released.
PARSIPPANY, N.J. — Cushman & Wakefield has brokered the sale of Waterview Plaza, a Class A office building located at 2001 Route 46 East in Parsippany. Norwalk, Conn.-based Marcus Partners acquired the 130,000-square-foot property for an undisclosed sum from Waterview Plaza Associates LLC, which developed the property in 1981. Key tenants at the property include Hennion & Walsh and HQ Global Workplaces LLC/Regus Corp., both with long-term leases. The buyer has a $2.6 million capital improvement program slated for the property. David Bernhaut, Andy Merin, Andy Schwartz and Nick Karali of Cushman & Wakefield represented the seller in the transaction. Additionally, the buyer retained Cushman & Wakefield as leasing agents for the property.
NEW YORK CITY — TOWN Residential has arranged the purchase of a retail/office building located at 734 Broadway in New York City’s NoHo district. 734 Broadway Acquisitions LLC purchased the 19,000-square-foot property for an undisclosed price. The five-story property features 6,500 square feet of usable retail space and four floors of office space totaling 12,500 square feet. The buyer plans to renovate the property, which was vacant at the time of acquisition. Jonathan Butwin and Scott Dweck of TOWN Residential represented the buyer in the transaction. The name of the seller was not released.
AUSTIN, TEXAS — DoubleTree by Hilton Austin Northwest – Arboretum is now open in Austin. The hotel is located less than a mile from the Arboretum shopping mall and one block from the MoPac Expressway and I-183 intersection. The former Holiday Inn underwent a multi-million dollar transformation that included a redesign of the lobby, updated guest rooms, new furniture, a new restaurant and bar and expanded meeting and event space. The hotel is owned by 8901 Austin Hotel LLC and managed by Driftwood Hospitality Management. Amenities include a 24-hour fitness center, business center, outdoor pool and WiFi.
LA PORTE, TEXAS — Marcus & Millichap has arranged the sale of Village by the Bay, a 79-unit apartment property located in La Porte. Juan Cuevas of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a private investor. John Susank of Marcus & Millichap’s Newport Beach, Calif., office secured the exchange buyer, a limited liability company. Village by the Bay is located at 1026 S. 6th St. in La Porte.