Property Type

Darwin Realty & Development Corp. Arranges Industrial Lease in Bensenville, Ill.

by Danielle Everson March 30, 2015

BENSENVILLE, ILL. — Darwin Realty & Development Corp. has arranged the lease of a 1,500-square-foot industrial space in Bensenville. Dan Fanelli of Darwin Realty and Development Corp. represented both the tenant and landlord in lease to ZM Gear & Machine at 1134 Industrial Drive. The landlord is FBG Corp. ZM Gear is currently occupying an adjacent unit and is expanding its business to the additional space. The facility is just off Route 83 south of Thorndale Avenue and west of York Road in DuPage County. ZM Gear is a family-owned company with more than 20 years of experience in gear manufacturing including parts from shafts, covers and housings.

March 30, 2015

Boardwalk at Morris Bridge Temple Terrace

Florida Multifamily Southeast Student Housing

Marcus & Millichap Brokers $17.2M Sale of Student Housing Property in Florida

by John Nelson March 30, 2015

TEMPLE TERRACE, FLA. — Marcus & Millichap has brokered the $17.2 million sale of Boardwalk at Morris Bridge, a 146-unit, 580-bed student housing community located at 8800 Boardwalk Trail Drive in Temple Terrace. The apartment building is less than a four-minute drive from the University of South Florida’s main campus. Built in 2001, the property’s amenity package includes a resort-style swimming pool and spa, tanning beds, a clubhouse, study center, 24-hour courtesy officer and shuttle service to the campus. Frank Carriera, Michael Regan and Alex Blagojevich of Marcus & Millichap’s Tampa office, along with David Gaines and Greg Gonzalez of the firm’s Chicago office, represented both the buyer and seller in the transaction.

March 30, 2015

Retail Southeast Tennessee

SRS Real Estate Brokers $14.4M Sale of Shopping Center in Germantown

by John Nelson March 30, 2015

GERMANTOWN, TENN. — SRS Real Estate Partners has brokered the $14.4 million sale of a 137,181-square-foot shopping center located at 2015 Exeter Road in Germantown, roughly 21 miles east of Memphis. Finard Germantown LLC sold the property to Farmex Rail LLC, an affiliate of DNA Partners LLC. Hobby Lobby and Bed Bath & Beyond anchor the shopping center. Kyle Stonis and Pierce Mayson of SRS Real Estate’s Atlanta office represented the seller in the transaction. The buyer didn’t have representation in the transaction.

March 30, 2015

Florida Retail Southeast

Phillips Edison’s Investment Fund Buys Shopping Center in Tampa Bay Area for $6.3M

by John Nelson March 30, 2015

SEMINOLE, FLA. — Phillips Edison Grocery Center REIT II Inc. has purchased Oakhurst Plaza, a 51,740-square-foot shopping center located at 9201-9394 Oakhurst Road in Seminole, for $6.3 million. Seminole is a town located in the Tampa Bay metro area. Mike Milano and Ron Schultz of Colliers International’s Tampa Bay office represented the seller, One Bayshore LLC, in the transaction. Ben McLeish of Colliers’ Tampa Bay office recently arranged two retail leases at the Publix-anchored shopping center on behalf of the seller — Hope N Love Animal Hospital and Westshore Pizza. Through its sponsored funds, Phillips Edison & Co. owns and operates 36 shopping centers in Florida, most of which are anchored by Publix.

March 30, 2015

Illinois Industrial Midwest

NGKF Arranges Sale of 110,343 SF Industrial Property in Elgin, Ill.

by Danielle Everson March 30, 2015

ELGIN, ILL. — Newmark Grubb Knight Frank (NGKF) has arranged the sale of a 110,343-square-foot industrial building in Elgin. The property is located at 2545 Northwest Pkwy. Adam Marshall of NGKF and Joe Bronson of NAI Hiffman represented the seller, property owner Zilber Property Group. Marshall also represented the buyer, Bucher Hydraulics, an international provider of hydraulic drive and control technologies for mobile and industrial hydraulic applications. The property is within the Northwest Corporate Park and is adjacent to several retail, restaurant, hotel and child care facilities. Built in 1999, the building features high-end, two-story offices that are 23,200 square feet. Additional features include 24-foot ceiling heights, seven docks, eight drive-in doors as well as 2,400 amps of power.

March 30, 2015

Illinois Industrial Midwest

NelsonHill Brokers Sale of 87,000 SF Building in Chicago’s Stockyards Industrial Park

by Danielle Everson March 30, 2015

CHICAGO — NelsonHill has brokered the $2.8 million sale of 1120 W. Exchange Avenue in Chicago’s Stockyard Industrial Park. Florock, an industrial flooring systems firm, purchased the property. The 63-year-old, global firm plans to consolidate its other locations into one site. The 87,982-square-foot property sits on nearly three acres and includes more than 40 parking spaces, 17-foot to 22-foot ceiling heights and a 4,000-square-foot office. The property also features two interior docks and two overhead doors. Michael Nelson and Mark Nelson of NelsonHill represented the seller, The Missner Group. Adam Tarantur, Corey Chase and Kyle McKechnie of Podolsky|Circle CORFAC International represented the buyer.

March 30, 2015

New York Northeast Office

New York City REIT Buys Manhattan Office Property for $253M

by Amy Works March 30, 2015

NEW YORK CITY — American Realty Capital New York City REIT Inc., a public non-traded REIT, has acquired an office property located at 123 William St. in downtown Manhattan, for $253 million, or $470 per square foot. The 27-story building features 545,000 square feet of rentable space. The acquisition was funded with a combination of cash and mortgage financing.

March 30, 2015

Multifamily New York Northeast

CPEX Brokers Sales of Two Development Sites in Brooklyn to Hudson Cos.

by Amy Works March 30, 2015

NEW YORK CITY — CPEX Real Estate has brokered the sales of two development sites, totaling 350,000 buildable square feet, in Brooklyn’s Prospect Lefferts Gardens. Hudson Cos. purchased the sites for a combined $23 million and plans to develop 520-unit multifamily property on the sites. In the first deal, Hudson Cos. purchased a five-parcel, 36,430-square-foot site at 1295-1299 Nostrand Ave. and 306-310 Clarkson Ave. for $10 million, or $69 per buildable square foot. The site offers 145,720 buildable square feet. The seller was a family that had owned the properties since the early 1980s. In the second transaction, Hudson Cos. acquired the adjacent properties, 318-350 Clarkson Ave., from Health Science Center at Brooklyn for $13 million, or $65 per buildable square foot. The site offers 200,000 buildable square feet. Sean Kelly, Timothy King and Brian Leary of CPEX represented the sellers in each transaction and procured the buyer.

March 30, 2015

Connecticut Multifamily Northeast

CBRE Arranges $17.7M Sale of Connecticut Multifamily Property

by Amy Works March 30, 2015

BROOKFIELD, CONN. — CBRE Group has brokered the sale of Towne Brooke Commons, a multifamily property located in Brookfield. The Silverman Group purchased the 102-unit property for $17.7 million from Harbor Group International. Built in 2009, the property features open floor plans with high ceilings, spacious kitchens, walk-in closets and full-size washers/dryers. Community amenities include a clubroom, fitness center, outdoor pool, business center and heated parking. Jeffrey Dunne, Gene Pride and Ivelin Spasov of CBRE’s Institutional Properties group represented the seller in the transaction.

March 30, 2015

New York Northeast Retail

Ariel Property Advisors Arranges $5.1M Sale of Retail Property in the Bronx

by Amy Works March 30, 2015

NEW YORK CITY — Ariel Property Advisors has arranged the sale of a retail property located at 3860 East Tremont Ave. in the Throgs Neck section of the Bronx. Ashkenazy Acquisition Corp. acquired the 15,000-square-foot property for $5.1 million. The vacant property features 23,618 square feet of air rights, 38,618 buildable square feet, 40 on-site parking spaces and an advertising tower. Jason Gold, Victor Sozio and Scot Hirschfield of Ariel Properties represented the seller, a private investor, and procured the buyer in the deal.

March 30, 2015

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