CAIRO, GA. — Franklin Street Real Estate Services has arranged the $2.8 million sale of Cairo Corners, a grocery-anchored shopping center in Cairo, a town in southwest Georgia along the Florida border. Built in 2008, the property is located at 1000 First Ave. N.E. Harveys Supermarket anchors the shopping center and has 13 years remaining on its lease through its parent company BI-LO LLC. An unnamed company based in Delaware purchased the shopping center from Cairo Sun Properties Ltd. LLP, a Boca Raton, Fla.-based limited liability company. Rafeal Wright and Jonathan Graber of Franklin Street represented the seller in the transaction.
Property Type
CHARLESTON, S.C. — Cushman & Wakefield | Thalhimer has arranged the $2.5 million sale of a 24,000-square-foot office building located at 1200 Charleston Regional Parkway in Charleston. Jessen Lane LLC purchased the former NanoScreen Building from Wells Fargo Bank. Mankiewicz LLC, a manufacturer of coating systems for the aviation and automotive industries, will lease space at the property. Mark Erickson of Cushman & Wakefield | Thalhimer represented Wells Fargo in the transaction.
CHICAGO — Lubert-Adler, in a joint venture with The Farbman Group, has sold a 23-story office building in Chicago for $100 million. Beacon Investment Partners LLC partnered with Tel Aviv-based Harel Insurance Investments and Financial Services Ltd. to acquire the 535,911-square-foot building located at 200 W. Monroe St. Lubert-Adler and The Farbman Group acquired the office building in July 2012 for $75 million. The joint venture was able to increase occupancy from 80 to 91 percent. Lead tenants include Select Hotels, Equinox Fitness, and Barcodes Inc. The office tower was built in 1973 and renovated in 2006. Philadelphia-based Lubert-Adler, which invests on behalf of leading national university endowments and state retirement systems, owns five other Chicago properties with The Farbman Group.
ALSIP, ILL. — Sperry Van Ness has arranged the $1.1 million sale of a 42,500-square-foot industrial building in Alsip, a southern suburb of Chicago. The building is located at 4101 W. 124th Place. The Shred Authority, a professional paper shredding service, purchased the property, which had been vacant for three years. Beverly Hayes of Sperry Van Ness represented the buyer. Robert Barr of Strategic Advisors represented the seller, Praxair Surface Technologies Ltd.
LISLE, ILL. — Brennan Investment Group LLC and its joint venture partner Westminster Capital have sold a Class A office property to a private investor for an undisclosed sales price. The Ogden Corporate Center is located at 801-815 Ogden Ave. in Lisle, a suburb approximately 26 miles east of Chicago. The property consists of two single-story office buildings. The buildings are fully leased to three tenants with the majority of space occupied by an affiliate of DuPage Medical Group. Brennan Investment Group purchased the property in 2012.
CLEVELAND — First Market Properties LLC has purchased the first lien mortgage on a Class B, mixed-use complex in Cleveland. The property, Playhouse Square, is located at 1220 Huron Road N.E. The building includes 100,800 net rentable square feet and is currently 30 percent occupied. The loan was originated in 2011 and matured in June 2013 with an unpaid balance of approximately $1.7 million. Miami-based First Market Properties is a fully integrated real estate investment firm that originates first lien debt, purchases loans and REOs nationwide.
BUFFALO, N.Y. — Williamsville, N.Y.-based Ciminelli Real Estate Corp. has topped off Conventus, a seven-story medical office building located at 1001 Main St. in Buffalo. Situated on the Buffalo Niagara Medical Campus, the 350,000-square-foot building is scheduled for completion in spring 2015. Located at the Northern Gateway to the medical campus, the building will be physically connected via enclosed walkways to the new John R. Oishei Children’s Hospital, the new University at Buffalo School of Medicine and Bioinformatics, and the University at Buffalo Research Institute on Addictions. Tenants will include Kaleida Health, UBMD, AMRI and First Niagara Bank.
NEW HAVEN, CONN. — C. Cowles & Co. has acquired a manufacturing/warehouse facility located at 100 Kenna Dr. in North Haven from The Freedom Group Family of Companies for an undisclosed price. Situated on 23.5 acres, the 226,000-square-foot warehouse/manufacturing property offers 206,000 square feet of manufacturing space and 20,000 square feet of office space. Built in the 1960s, the facility also features 18-foot clear ceiling heights, 40- by 40-foot column spacing and a wide-open floor plan. The buyer, a precision metal stamping company, plans to consolidate two business units in one facility. Jim Panczykowski of Binswanger’s New Haven office handled the transaction.
SOUTH BRUNSWICK, N.J. — Colonna Brothers Inc. has acquired 319 Ridge Road in South Brunswick for an undisclosed price. The 121,361-square-foot industrial facility features sections of 20- to 30-foot high ceilings, 42- by 42-foot column spacing, 17 tailboards and one drive-in. Mark Tannen of United Realty Advisors represented the buyer, while Robert Sager and David Blitt of Bussel Realty Corp. represented the seller, 319 Ridge Road Associates LLC, in the transaction.
NORTH BERGEN AND PARSIPPANY, N.J. — Cushman & Wakefield has brokered deals to facilitate the relocation of Hudson News Distributors from North Bergen to Parsippany. Bergen Logistics purchased Hudson News’ 23-acre, 475,000-square-foot headquarters located at 5903 Westside Ave. in North Bergen for an undisclosed price. In conjunction with the disposition, Cushman & Wakefield arranged the lease of 701 Jefferson Road in Parsippany for Hudson News. The company will use the 135,000-square-foot former Coca-Cola distribution facility as its new headquarters. Scott Perkins of NAI James E. Hanson represented the landlord, Jofra Realty, in the lease transaction. Bonni Heller, Richard Baumstein, Andrew Merin and Gary Gabriel of Cushman & Wakefield represented Hudson News in the transactions.