NEW YORK CITY — TerraCRG has brokered the $1.9 million sale of an industrial portfolio located at 12-18 Commerce St. in Brooklyn’s Red Hook neighborhood. The 107- by 100-foot irregular lot comprises five buildings with an aggregate of approximately 8,024 above-grade square feet and a shared approximately 966-square-foot courtyard on the interior of the lot. Ofer Cohen, Melissa DiBella, Dan Marks, Peter Matheos and Michael Hernandez of TerraCRG arranged the transaction between two private investors.
Property Type
SCHNECKSVILLE, PA. — NAI Summit represented Krause Family Partnership LLC in the disposition of 4089 Route 309 and 4080 Independence Drive in Schnecksville. Star Auto Real Estate LLC purchased the more than four-acre property for an undisclosed price. The buyer, which is in association with Global Motor Trade LLC, plans to use the property for an exotic car dealership. Jay Haines of NAI Summit represented the seller in the transaction.
DALLAS — Resource Real Estate Opportunity REIT II Inc. has purchased its first asset, a 152-unit apartment community in the Platinum Corridor neighborhood in Dallas. The property, located close to the Dallas North Tollway will feature one- and two-bedroom units, as well as a swimming pool and business center. The REIT is planning upgrades to the community’s common areas, leasing center and individual units.
HOUSTON — Dougherty Mortgage has originated a $10 million Fannie Mae loan to refinance Villa Springs Apartments in Houston. The 216-unit community is an affordable housing property featuring a newly remodeled clubhouse, playground and fitness center. Dougherty’s Minneapolis office arranged the 15-year loan on behalf of the borrower, Houston Leased Housing Associates IV LP.
HOUSTON — Marcus & Millichap has arranged the sale of a 110,000-square-foot manufacturing facility in Houston. The property is fully leased to Lectrus Corp., an electrical system integrator and custom metal enclosure designer. Ben Tashakorian and Toby Boessen of Marcus & Millichap’s San Diego office represented the seller in the transaction. Timothy Speck of Marcus & Millichap assisted in the transaction.
IRVING, TEXAS — Hold-Thyssen has arranged the sale of a 106,500-square-foot research and development facility at 8600 N. Royal Lane in the Irving suburb of Dallas. The property is located in Freeport Business Park north of the Dallas-Fort Worth International Airport. The facility was fully leased at the time of the sale, with Siemens Real Estate occupying roughly 63 percent of the property. Richard Fisher of Hold-Thyssen represented the seller, a German-based real estate owner. Austin-based Goldstar Investments Ltd. purchased the asset for an undisclosed price.
POMONA, CALIF. — Garey Tech Center in Pomona, a 134,500-square-foot tech facility in Pomona, has sold to an Orange County private investor for $16 million. The center is located at 2771 N. Garey. The space is home to aerospace and defense contractor Hamilton Sundstrand. The contractor is now part of UTC Aerospace Systems, a division of United Technologies Corporation. It has occupied the building as both an owner and tenant since it was built in 1962. The buyer was represented by Clyde Stauff of Colliers, as well as Mike Hartel and Mike Bouma of Voit. The seller, a joint venture between Lincoln Property Company and Morgan Stanley Real Estate Fund, was also represented by Stauff, along with Bret Hardy, Rick Putnam and Tony Phu.
GLENDALE, CALIF. – A 33,699-square-foot retail building in Glendale that is net leased to Jo-Ann Fabric and Craft has sold to Aria Investments LLC for $17.7 million. The building is located at 1000 South Central Ave. It was built in 1966 and renovated last year. Aria was represented by Sheila Alimadadian of Marcus & Millichap’s National Retail Group in Newport Beach.
VENTURA, CALIF. – A 6,619-square-foot retail space in Venture that is occupied by Citibank has sold to Hull LQ Properties LLC for $4.5 million. The building is located at 1011 S. Victoria Ave. Hull was represented by Chuck Klein and Kevin Held of Cassidy Turley. The seller was CP Sunshine LLC.
SAN DIEGO – The 65-unit Sungarden Terrace senior housing facility in San Diego has received a $2.9-million refinance. The facility is located at 2045 and 2049 Skyline Drive in Lemon Grove. The property contains an assisted living facility with a memory care unit. The loan includes a 15-year term and 15-year amortization schedule. It was secured by Steve Hollisterof NorthMarq Capital’s San Diego regional officethrough the lender, a life insurance company, as a servicing mortgage correspondent.