Property Type

HFF Arranges Sale of Industrial Buildings in Houston

by Haisten Willis October 20, 2014

HOUSTON — HFF has arranged the sale of a three-building industrial portfolio totaling 243,100 square feet in Houston. HFF marketed the properties on behalf of the seller, EastGroup Properties. Cabot Properties Inc. purchased the assets for an undisclosed amount. The portfolio consists of Clay-Campbell I and II in northwest Houston and Kirby Business Center in south Houston. All three properties were 100 percent leased at the time of sale. Clay-Campbell I and II are located at 4300-4320 and 4444-4456 Campbell Road near Highway 290 and Beltway 8. They were completed in 1982 and both buildings have 58,846 square feet of space. Kirby Business Center is located at 9350-9370 South Point Drive, just south of NRG Stadium and the Texas Medical Center. The building contains 125,408 square feet and was completed in 1980.

October 20, 2014

Burnside Lofts in Los Angeles Sells for $8M

by Nellie Day October 20, 2014

LOS ANGELES – The 36-unit Burnside Lofts in Los Angeles has sold to Burnside Wilshire Apartments LLC for $8 million. The community is located at 649 South Burnside Ave. Darin Beebower of Madison Partners represented both the buyer and seller, Burnside Partners LP, in this transaction.

October 20, 2014

California Office Western

USC Expands its Charter School at the World Trade Center in Los Angeles

by Nellie Day October 20, 2014

LOS ANGELES – The University of Southern California (USC) has signed a four-year lease for 19,653 square feet within the World Trade Center in Downtown Los Angeles. The 370,000-square-foot office building is located at 350 S. Figueroa Street. The new lease allows the school to nearly double its presence at the center. It has also brought the World Trade Center’s occupancy to 74 percent. USC was represented by Dennis Smith, Howard Feuerstein, and Cory Campbell of Travers Realty. The landlord, Jamison Properties, was represented by Chris Runyen of Charles Dunn Company.

October 20, 2014

Arizona Industrial Western

Hartford Place in Scottsdale Sells for $7M

by Nellie Day October 20, 2014

SCOTTSDALE, ARIZ. – Hartford Place, a 66,800-square-foot flex office/warehouse in Scottsdale, has sold to Hartford Exchange LLC and Reems & Greenway LLC for $7 million. The property is located at 8388 E. Hartford Drive within the Perimeter Center Business Park. HomeSmart recently signed on to occupy half of the building. The seller, Buchanan Street Partners, was represented by Eric Wichterman, Mike Coover and Michael Kitlica of Cassidy Turley.

October 20, 2014

Arizona Retail Western

Tierra Del Sol in Phoenix Sells for $4.2M

by Nellie Day October 20, 2014

PHOENIX – Tierra Del Sol, a 42,994-square foot retail property in Phoenix, has sold to Pacific Property Group for $4.2 million. The center is located at 1606 East Bell Road. It is currently 75 percent leased. Ben Tashakorian and Stuart Fagan of Marcus & Millichap’s San Diego office represented both the buyer and seller, 5121 Glendale Associates, in this transaction.

October 20, 2014

California Retail Western

Diamond Indoor Swapmeet in Los Angeles Sells for $3.6M

by Nellie Day October 20, 2014

LOS ANGELES – The 22,416-square-foot Diamond Indoor Swapmeet in Los Angeles has sold to an undisclosed non-profit organization for $3.6 million. It is located in an infill area of South Gate along Firestone Boulevard. The property contains a large building that serves as the Diamond Indoor Swapmeet, general store and banquet hall. The second building had been used for a small taco stand. The seller, Diamond 888 LLC, was represented by Steve Liu and Roger Niez of NAI Capital’s Orange County office.

October 20, 2014

Illinois Loans Midwest Retail

Envoy Provides Financing for Walgreens Store in Chicago

by Danielle Everson October 20, 2014

CHICAGO — Envoy Net Lease Partners LLC has provided a first mortgage bridge loan for a single-tenant, net-leased Walgreens drug store property in Chicago. Envoy worked with its senior bank partner to provide the subordinated “B-Piece” financing, which gave the borrower the necessary loan proceeds to close on time to qualify for the tax-free exchange treatment. The bridge loan also allows the borrower to negotiate the lease extension after closing. The transaction was the first to be completed under Envoy’s new bridge loan program. The program allows investors to secure 85 percent loan-to-purchase price financing.

October 20, 2014

Michigan Midwest Retail

Friedman Arranges Sale of 4,450 SF Retail Building in Southgate, Mich.

by Danielle Everson October 20, 2014

SOUTHGAE, MICH. — Friedman Integrated Real Estate Solutions has arranged the sale of a 4,450-square-foot retail building in Southgate. Girrbach-Krasun Funeral Home is located at 15748 Fort St. Fort Street Associates LLC purchased the property for an undisclosed sales price. Paul Feldman of Friedman represented the seller, Land Holding LLC, and the buyer in the transaction.

October 20, 2014

Illinois Industrial Midwest

Entre Commercial Realty Brokers Sale of 47,500 SF Industrial Building

by Danielle Everson October 20, 2014

FRANKLIN PARK, ILL. — Entre Commercial Realty LLC has brokered the sale of a 47,500-square-foot industrial facility in Franklin Park. The property is situated on more than an acre located at 9201 King St. The facility features heavy, well-distributed power with 1,200 amps, 21-foot clear heights with exiting racking in the warehouse space, five loading docks and covered garage parking. Anilroshi LLC purchased the property for an undisclosed sales price. Anilroshi, a manufacturing and distribution company with a location in Maywood, is expanding to this Franklin Park facility. Entre’s Mark Deady and Tom Boucher represented the seller, a private investor, 9201 King LLC. Veronica Tapia of Chicago-based Tapia Real Estate represented the buyer.

October 20, 2014

Mixed-Use Multifamily New York Northeast Retail

Eastern Consolidated, Cresa New York Arrange $52.9M Sale of Mixed-Use Property

by Amy Works October 20, 2014

NEW YORK CITY — Eastern Consolidated and Cresa New York have arranged the $52.9 million sale of a residential and retail property located at 110-112 Greenwich St. in Lower Manhattan. Built in 1929 and last altered in 1998, the 66,530-square-foot property features 60 free-market apartments, corner retail space and 30,000 square feet of additional development rights. Peter Hauspurg, David Schechtman, Lipa Lieberman, Abie Kassin of Eastern Consolidated, along with Mark Jaccom and Elyse Schindler-Candella of Cresa New York, represented the buyer, Hersel Torkian of the BHT Corp., and the seller, 110 Greenwich Street Associates, in the transaction.

October 20, 2014

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