ASHEVILLE, N.C. — Pine Tree Commercial Realty LLC has acquired Riverbend Marketplace, a 142,617-square-foot shopping center in Asheville. Pine Tree purchased the asset in the city’s Tunnel Road Corridor in partnership with Wanxiang America Corp. Riverbend Marketplace’s tenant roster includes Kohl’s, rue 21, Great Clips, Family Christian Stores and PetSmart. The shopping center is Pine Tree’s first asset in North Carolina.
Property Type
INDIANAPOLIS — Brennan Investment Group LLC has acquired Jackson Industrial Park in Indianapolis. The portfolio consists of four multi-tenant, light-industrial facilities totaling approximately 260,400 square feet. Brennan Investment Group successfully utilized crowdfunding with Realty Mogul to complete the purchase. The property is 77 percent occupied.
OXNARD, CALIF. – PODS has leased 65,000 square feet in Oxnard. The lease is valued at nearly $2 million. The company will be relocating and expanding from nearby Ventura, where it was based for eight years. The new space is located at 301 S. Rose Ave. CBRE’s Paul Farry, Jim Meaney, Doug Shaw represented both PODS and the landlord, One Miracle Property, in this transaction.
FORT WORTH — Marcus & Millichap has arranged the sale of Ridgmar Square, a 24-building, 332-unit apartment complex in Fort Worth. Al Silva of Marcus & Millichap’s National Multi Housing Group in Fort Worth marketed the property on behalf of the seller, a private investor from Washington State. Silva also secured the buyer, a Texas-based investment group. Ridgmar Square is located at 2508 Ridgmar Blvd. in Fort Worth. The complex is located 10 miles west of downtown Fort Worth along I-30. Amenities include two pools, a clubhouse, gym and access gates.
PHOENIX — First Commons at West 10, a 99,528-square-foot industrial complex in Phoenix, has sold to Enright Capital for $6 million. The building is located at 4625 and 4635 W. McDowell Road. It was built in 2002. The property was 60 percent leased at the time of sale. Bob Buckley, Tracy Cartledge and Steve Lindley of Cassidy Turley represented both the buyer and seller, MDI Capital, in this transaction.
PEARL, MISS. — The Boulder Group has brokered the $2.3 million sale of a single-tenant retail property located at 1039 Centre Pointe Blvd. in Pearl, 10 miles east of downtown Jackson. The newly constructed, 20,317-square-foot property is leased to Safelite AutoGlass for 15 years. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer, a Florida-based real estate investment firm, in the transaction. The seller was a real estate developer based in Texas.
HARRISON, N.J. — First Niagara’s Commercial Real Estate Group has closed on a $16.9 million loan with The Hampshire Companies for the construction of a 104-unit apartment complex on the site of the former David’s Cookie Factory in Harrison. The loan will finance the development of two four-story buildings at 400 S. Second St., which is part of the Harrison Waterfront Redevelopment Plan. Bergen Street Urban Renewal LLC, a joint venture between CrownPoint Group LLC and The Hampshire Companies, is developing the project, which is slated for completion in July 2015. Yvonne Ulrich of First Niagara is managing the transaction for the bank.
NEW YORK CITY — HFF has brokered the sale of and arranged financing for Avalon Chrystie Place, a 14-story apartment building located at 229 Chrystie St. in SoHo. Ashkenazy Acquisition Corp. purchased the property for an undisclosed price. HFF marketed the property on behalf of the seller. Additionally, HFF worked on behalf of the buyer to place a senior acquisition loan with the Bank of China and secured preferred equity through a commingled fund managed by American Realty Advisors. The 361-unit property features studio, one- and two-bedroom units averaging 739 square feet, as well as 72,329 square feet of fully occupied ground-level retail space that is anchored by Whole Foods. On-site amenities include a 24-hour concierge service, fitness center, rooftop sundeck and resident storage. Andrew Scandalios, Jose Cruz and Jeffrey Julien of HFF represented the seller. John Pelusi, Mike Tepedino and Jennifer Keller of HFF secured the financing for the buyer.
KENWOOD, OHIO — Faris Lee Investments has arranged the $32 million sale of two fully occupied retail centers in Kenwood, an affluent suburb of Cincinnati. The properties, which are located across the street from each other, include Kenwood Pavilion and Kenwood City Place. Donald MacLellan, Richard Chichester, Chris DePierro and Tom Chichester of Faris Lee Investments represented the seller, a joint venture between Cincinnati-based Jeffrey R Anderson Real Estate and Kentucky-based P&P RE LLC. The team also represented the buyer, Colorado-based GDA Real Estate Services LLC, who purchased the portfolio in a 1031 tax-deferred exchange.
NEW YORK CITY — Starwood Capital Group, on behalf of a controlled affiliate, has sold the leasehold interest in an office building to an affiliate of Ross Stores Inc. Located at 1372 Broadway, the 21-story building offers 572,000 square feet of office space. The building serves as the East Coast buying office for Dublin, Calif.-based Ross Stores. Terms of the sale for were not disclosed. Starwood Capital Group, through its Starwood Distressed Opportunity Fund IX, originally purchased the leasehold interest in the property in June 2012. Kasowitz, Benson, Torres & Friedman LLP advised Starwood Capital Group in the transaction.