NEW YORK CITY — A private investor has acquired 115 Atlantic Avenue, a 5,370-square-foot mixed-use property in Brooklyn, from an undisclosed seller. The property sold for $3.4 million, or approximately $843 per square foot. Shaun Riney, Joe Koicim and Peter Von Der Ahe of Marcus & Millichap’s Brookyln and Manhattan offices represented the seller. Shaun Riney and Patxi Colbern, also of Marcus & Millichap, represented the buyer in the transaction.
EAST HANOVER, N.J. — Griffin Capital Corp. has selected Jones Lang LaSalle to provide leasing and property management for Eagle Rock Executive Office IV, located 120 Eagle Rock Avenue in East Hanover. The firm will provide a full range of property management and transaction services for the Class A, 177,820-square-foot commercial office building. Dennis McConnell and Dan Spero make up the leasing team, and Beth Pereira and Mary Oppel comprise the property management team. Griffin Capital acquired the property from Columbia Property Trust in late 2013 as part of an 18-building nationwide portfolio acquisition.
NEW YORK CITY — Massey Knakal has brokered the sale of 158 Rivington Street located in Manhattan’s Lower East Side. The six-story, 6,866-square-foot mixed-use building sold for $6.48 million or approximately $944 per square foot. The property consists of two ground-floor retail units and nine residential units. Built in the 1990s, the property holds approximately 2,151 square feet of additional air rights. Michael DeCheser of Massey Knakal exclusively handled the transaction. The seller was 158 Rivington Property Inc.
YONKERS, N.Y. — Micromold Products has expanded and relocated to 7 Odell Plaza in Yonkers. The new 12,991-square-foot space is located within South Westchester Executive Park, which is owned by Mack-Cali Realty Corp. Howard Greenberg of White Plains, N.Y.-based Howard Properties represented the tenant in the transaction, while Mack-Cali was represented in-house by Ivan Abry. Terms and conditions of the lease were not disclosed.
SAN MARCOS, TEXAS — Atlantic | Pacific Cos. (A | P) has acquired The Palazzo, a 300-unit multifamily community in San Marcos. Located on Wonder World Drive, the garden-style property offers one- to three-bedroom apartments plus amenities such as two swimming pools, a fitness center, game room and basketball court. A | P is planning upgrades to common areas and unit interiors. Atlantic | Pacific Management will manage the property. San Marcos, home to Texas State University and the Central Texas Medical Center, is situated between Austin and San Antonio along the Interstate 35 corridor.
HOUSTON — Marcus & Millichap has brokered the sale of a 5,362-square-foot net-leased property in Houston occupied by Bikinis Sports Bar & Grill. The restaurant, located at 17117 Tomball Parkway, is in proximity to Willowbrook Mall. Jason Vitorino of Marcus & Millichap marketed the asset on behalf of the seller, a limited liability company. Jared Aubrey, also of Marcus & Millichap, secured and represented the buyer in the transaction, an institutional investor.
HOUSTON — Moody Rambin has arranged the lease of 5,718 square feet of office space in Houston for Vericlaim Inc., a loss-adjusting and claims management company. The tenant will occupy a portion of the 2500 Wilcrest building, located at 2500 Wilcrest Drive on the city’s west side, in proximity to the Sam Houston Tollway. Griffin Jaggard and Kurt Kistler of Moody Rambin represented the property owner, IC Wilcrest LP, in the negotiations. David Husid of Newmark Grubb Knight Frank represented Vericlaim.
PORTLAND, ORE. – A 1.6-acre site known as Block 37 in Portland has sold to Mack Urban and Connell Real Estate and Development Company for $7 million. The site is located on River Parkway and SW Gaines Street in the South Waterfront District. It is the last developable block available for multifamily developmenton the Willamette River. The partners plan to build a six-story, mid-rise apartment building with up to 281 units. The parcel was marketed by Javier Rivera, Mark Friel, Paige Morgan, David Young, Joe Leon, Seth Heikkila and Corey Marx of Jones Lang LaSalle’s Capital Markets, and financing expert Reid McGlamery.
SAN FRANCISCO — CIM Group has acquired a five-story office building in San Francisco’s South Financial District for an undisclosed sum. The building is located at 246 1st Street. This is CIM’s fifth office acquisition in San Francisco.
LA VERNE, CALIF. – The La Verne Courtyard, an 84,796-square-foot shopping center, has sold to a private Beverly Hills investor for an undisclosed sum. The center is located at 2204-2278 Foothill Blvd. in La Verne. Notable tenants include Orchard Supply Hardware, Office Depot, Citi Financial, Pizza Hut, Rubio's Baja Grill, Quiznos and Magic Wok. Both the buyer and seller, a private San Clemente investor, were represented by Edward B. Hanley, William B. Asher and Kevin T. Fryman of Hanley Investment Group.