INDIANAPOLIS — Marcus & Millichap has arranged the $1.2 million sale of a 4,775-square-foot retail center in Indianapolis. Preet Sabharwal, Britt Raymond and Jordan Klink of Marcus & Millichap marketed the property on behalf of the seller, a Connecticut-based developer, and represented the buyer, a New York-based private investor. GNC and T-Mobile occupy the property and have less than two years remaining on their leases. The property is located at 4557 N. Lafayette Road and is an outparcel to a Walmart Supercenter.
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NEW YORK CITY — Rosewood Realty Group has arranged the $246 million sale of a 33-building multifamily portfolio in New York City’s Upper West Side. New Jersey-based real estate investment company, The Orbach Group, was the buyer. A joint venture between Heritage Real Estate Partners and Dune Real Estate Partners sold the properties. The portfolio includes 1,031 apartments and two retail spaces. Aaron Jungreis of Rosewood Realty Group represented The Orbach Group in the off-market transaction.
NEW YORK CITY — Cignature Realty Associates has arranged the $6.3 million sale of 547 W. 157th St., a six-story, 48-unit apartment building in Manhattan. The building sold for approximately 10.7 times the current rent roll. Built in 1912, the 52,896-square-foot building is located between Broadway and Amsterdam Avenue in the Hamilton Heights neighborhood. Lazer Sternhell and Peter Vanderpool of Cignature Realty Associates represented the buyer, 547 West 157th Street Holdings LLC, a private investor from Florida, and the seller, 547 Associates Inc., a local real estate owner.
STAMFORD, CONN. — Northwestern Mutual-Stamford has signed a long-term lease for 20,000 square feet at 400 Atlantic St. in Stamford. The life insurance company is relocating from Westport to the 15-story, 500,000-square-foot Class A office tower. Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Co. and its subsidiaries, which manages $1.4 trillion in life insurance policies. In August, 400 Atlantic St. achieved LEED-Silver certification from the U.S. Green Building Council for Existing Buildings.
FLORHAM PARK, N.J. — Cushman & Wakefield has arranged a 19,500-square-foot, six-year lease extension and expansion for ECLC of New Jersey at 100 Passaic Ave. in Florham Park. ECLC of New Jersey, which provides lifelong services for persons with special needs, will use the location for its executive offices and its P.R.I.D.E. clients. ECLC had previously occupied 12,000 square feet at the location. Situated on 7.8 acres, 100 Passaic Ave. spans 59,000 square feet. Robert Donnelly and Jason Tenenbaum of Cushman & Wakefield’s Morristown office represented ECLC New Jersey. Geoff Schubert of CBRE, who is currently marketing the property for sale, represented the owner, Jefferson-Pilot Investments Inc., in the transaction. Chatham, N.J.-based ECLC operates two schools for young people with special needs. P.R.I.D.E., which stands for promoting responsibility, independence, decision-making and employability, provides day and evening programs for adult graduates of the two schools, with the goal of teaching life and employment skills.
HOUSTON — Trammell Crow Co. and Principal Real Estate Investors have completed the renovations of Noble Energy Center One, a 497,000-square-foot office building in Houston’s Northwest office submarket. The joint venture has also broken ground on Noble Energy Center Two, an adjacent 470,000-square-foot build-to-suit office building. The campus, located at the corner of State Highway 249 and Louetta Road, serves as the global headquarters for Noble Energy, an oil and gas exploration and production company. Noble Energy Center One has obtained LEED Gold certification, and Noble Energy Center Two is pre-certified LEED Gold. The development team consists of Aaron Thielhorn, Brandon Houston and Brain Altway of Trammell Crow, while Austin Commercial serves as general contractor and Kirksey serves as project architect. JP Morgan and US Bank provided construction financing.
CORPUS CHRISTI, TEXAS — Marcus & Millichap has brokered the sale of Normandy Village, a 180-unit multifamily property in Corpus Christi. Located at 4848 South Alameda St., the complex offers apartments in efficiency, one-, two- and three-bedroom layouts, as well as amenities such as covered parking and three swimming pools. J. Patrick Burke, Kent Myers and Joe James of Marcus & Millichap’s Austin office represented the seller, a limited liability company, and secured the buyer, a California-based partnership.
ADDISON, TEXAS — Retail Realty has brokered the sale of a 30,660-square-foot multi-tenant flex building in Addison, approximately 14 miles north of Dallas. The property, located at 4500 Ratliff Lane, features two drive-in, grade-level doors and clear height ceilings of 14 feet. Dan Avnery of Retail Realty represented the seller, Indus Partners Ltd. Robert Powell with Powell Realty Advisors represented the buyer, GBN Inc.
THE WOODLANDS, TEXAS — The Howard Hughes Corporation (NYSE: HHC) has signed Front Burner Restaurants to an 8,000-square-foot lease for a new location of Whiskey Cake Kitchen & Bar at Hughes Landing in The Woodlands. This first Houston location of the “farm-to-fork, garden-to-glass” eatery is scheduled to open in early 2015 and is the second restaurant to sign a lease at Hughes Landing, a 66-acre mixed-use development of HHC subsidiary The Woodlands Development Company. Jack Breard and Michael Miller of United Commercial Realty represented Front Burner in the negotiations, while Rip Reynolds of HHC represented Woodlands Development.
TEMPE, ARIZ. – A 60,458-square-foot, mixed-use property in Tempe has sold to Enright Roosevelt Tech, LP for $5 million. The flex/manufacturing property is located at 528 West 21st Street. Enright plans to hold the fully occupied building as an investment property. The company was represented by Paul Boyle and Rick Danis of Cassidy Turley’s Industrial Group. The seller, RBI Industrial Properties I, LLC, was represented by Tim Benson of Westmark Realty Partners.