SOUTHFIELD, MICH. — Gerdom Realty & Investment has arranged the sale of a 3,400-square-foot, two-story office building in Southfield. A dental practice in the area purchased the freestanding office asset located at W. 10 Mile Road for an undisclosed sales price. Tjader Gerdom of Gerdom Realty & Investment represented the seller, a private owner, and procured the buyer.
TEMECULA, CALIF. – A 24,000-square-foot industrial building in Temecula has sold to Anderson Living Trust for $2.8 million. The building is located at 41973 Remington, within the Legacy Corporate Center. The space was built in 2006. It is triple-net leased to Daltile, a subsidiary of Mohawk Industries. The company manufactures, distributes and markets ceramic tile and natural stone products. The trust was represented by Joe Brady of Colliers International. The seller was Legacy Corporate Center.
SAN DIEGO – A 15,488-square-foot industrial building in the Miramar submarket of San Diego has sold to Empire Electrical Supply for $2.6 million. The building is located at 7150 Carroll Road. Empire will use the building for the storage and distribution of electrical supplies. It will also contain office space for contracting work. The seller, Charter Industrial Supply, was represented by Nick Price of Voit Real Estate Services’ San Diego office. The transaction was an owner-user exchange.
DENVER – A two-story, mixed-use building in Denver has sold to an unnamed buyer for $2.1 million. The building is located at 821-827 Corona Street. It was built in 1919. The buyer was represented by Matt Ritter, Jeff Johnson, Cody Stambaugh and Peter Sengelmann of Pinnacle Real Estate Advisors. The unnamed seller was represented by Jules Hochman, Justin Brockman and Billy Riesing of the same firm.
PHOENIX – A 3,848-square-foot building in Phoenix that is net leased to Raising Cane’s has sold to an unnamed buyer for $3.5 million. The space is located at 4506 E. Cactus Road. The seller, a developer, was represented by Jamie Medress and Mark Ruble of Marcus & Millichap’s Phoenix office.
TUSTIN, CALIF. – A 16,986-square-foot industrial building in Tustin has sold to Subaru Research and Development for $3.3 million. The building is located at 14282 Chambers Road. Subaru was represented by CBRE. The seller, Shabani Investments LLC, was represented by Matt Durkin of Lee & Associates – Newport Beach.
NEW YORK CITY — Ariel Property Advisors has arranged the sale of the Morrisania multifamily portfolio, a 17-building portfolio located in the Morrisania section of the Bronx. The 676-unit portfolio, which includes one vacant lot, sold for $85.5 million. The 17 buildings total 674,565 gross square feet and are clustered in an area between 165th and 169th streets and Sheridan and Clay avenues. Shimon Shkury, Victor Sozio, Michael Tortorici, Scot Hirschfield and Jason Gold of Ariel Advisors represented the seller, a developer and multifamily operator, and procured the buyer, an affordable housing operator, in the transaction. The new ownership plans to maintain the affordability of the portfolio, which consists of Project Based Section 8 buildings operating under HAP agreements.
NEW YORK CITY — Marcus & Millichap has brokered the sale of an apartment building, located at 974 Saint Nicholas Ave. in Manhattan’s Washington Heights neighborhood. The asset sold for $15.5 million, or $330,000 per unit. Located between 159th and 160th streets, the six-story property features 33 market-rate units, 13 rent-stabilized apartments and one rent-controlled unit. Recent renovations to the building include new parapets, new elevator and mechanicals, new stone flooring through the common areas, new hallway lighting and a full roof replacement. Additionally, the units have been upgraded with new wood floors, new plumbing and electrical, stainless steel appliances and granite countertops. Peter Von Der Ahe, Scott Edelstein, Seth Glasser and Rafi Moskowitz of Marcus & Millichap’s Manhattan office represented both the seller and the buyer in the transaction.
WILMINGTON, DEL. — NAI Emory Hill has arranged the sale of a warehouse building, located at 1320 Clifford Brown Walk in downtown Wilmington. 1320 CBW LLC purchased the four-story, 83,000-square-foot building, which is situated on two acres of riverfront property along the Brandywine River. The owner plans to convert the property into an 80-unit residential development called The Lofts at Clifford Brown Walk. The building was formerly home to Iron Mountain, Security Archives & Storage Company, and Kaumagraph. Jon Hicky of NAI Emory Hill Real Estate Services represented the seller, Sasco Realty Too Inc., in the transaction. Brett DiClemente of Newmark Grubb Knight Frank represented the buyer, which is an affiliate of Chatham Bay Group, a Wilmington-based development company.
PLAINFIELD, N.J. — Bussel Realty Corp. has brokered the sale of an industrial facility, located at 1280 North Ave. in Plainfield. TJK Associates sold the 19,400-square-foot property to 1280 North Avenue Associates for $1.45 million. The fully-leased building features 18-foot ceiling heights, 40-foot by 40-foot column spacing, two loading docks and two drive-in doors. Additionally, the property offers access to Routes 28 and 22 and close proximity to Interstate 78. Gregory Irving and Manny Judah of Bussel Realty Corp. represented the seller, while Cresa New Jersey represented the buyer in the transaction.