CHELSEA, MICH. — Sperry Van Ness / Property Investment Advisors LLC has arranged the $6.4 million sale of a 50,000-square-foot Polly’s Country Market in Chelsea, a city located about 15 miles west of Ann Arbor. The sale price equates to $128 per square foot, an 8 percent cap rate. Marsolin Holdings LLC, a local investor, purchased the net-leased property. Robert Pliska of Sperry Van Ness represented the seller, a Pontiac, Mich.-based trust, in the transaction. The grocery store is on a long-term lease with the new owner.
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MILWAUKEE —The Dickman Co. Inc./CORFAC International has completed the sale of an 88,368-square-foot industrial building located at 7500 N. 81st St. in Milwaukee. Gordon Family LP sold the property to 7500 North 81st Street LLC. Samuel M. Dickman Jr., Samuel D. Dickman and Dave Hazenfield of The Dickman Co. Inc. arranged the sale. The purchase price was not disclosed.
KENOSHA, WIS. — Medtorque has leased a 20,600-square-foot industrial building located at 5601 95th Ave. in Kenosha, located about 38 miles south of Milwaukee. Mike Prost, Sergio Chapa and Jim Kettinger Jr. of Lee & Associates of Illinois LLC represented the building’s ownership, CenterPoint Properties, in the transaction.
YONKERS, N.Y. — Construction has begun on the 155-room Hyatt Place hotel development in the Cross County Shopping Center in Yonkers. LW Hotel Associates LP is developing the project, along with Friend Development Group LLC. LodgeWorks Partners LP will manage the hotel, which is slated to open in 2015. Guestrooms at the hotel will feature a 42-inch HDTV and complimentary Wi-Fi access. The hotel will also include 990 square feet of meeting space.
NEWARK, N.J. — Sills Cummis & Gross, a full-service regional corporate law firm, has signed a long-term lease at One Riverfront Plaza, Matrix Development Group’s 18-story, Class A office and retail tower in Newark. The law firm will occupy approximately 73,000 square feet at the building. Also known as the Legal Center, the property features a two-story lobby and valet parking, in addition to attached garage parking.
NEW YORK CITY — Marcus & Millichap has arranged the $4.7 million sale of 1231 Lincoln Place and 1382 St. John’s Place, totaling 47 apartment units located in the Crown Heights section in Brooklyn. The sale price equates to approximately $113 per square foot. Derek Bestreich and Lucien Sproviero from Marcus & Millichap’s Brooklyn office marketed the property on behalf of the seller and represented the buyer, both private investors.
PORTSMOUTH, N.H. — DLJ Group has purchased a 3,312-square-foot, multi-use building in downtown Portsmouth, a city located on the northern shore of New Hampshire. Streetscapes Properties LLC sold the three-story building, which is located at 110 State St. in downtown. The 200-year-old property, which was recently renovated, features a street-level commercial space with an outdoor patio, a backyard and stairs leading to a second-floor deck. The refurbished second and third floors each feature a one-bedroom apartment.
FAIRFIELD, N.J. — Science Applications International Corp. (SAIC) has renewed its 25,000-square-foot lease at 155 Passaic Ave., an 88,000-square-foot office building in Fairfield. Bergman Real Estate Group and Time Equities Inc. owns the property. Steve Fleming of Jones Lang LaSalle represented SAIC in the transaction.
HOUSTON — Clay Development has broken ground on a 120,000-square-foot industrial facility in Houston for Zimmermann & Jansen Inc., a valve manufacturer serving the steel, glass, refining and chemical industries. The property, which the tenant will use as its new headquarters, is located within Kennedy Greens Business Park in the East Aldine District. Travis Land and Michael Keegan of NAI Houston represented Zimmerman & Jansen, a subsidiary of IMI Severe Service, in the lease negotiations. The tenant will occupy the multi-crane-served, build-to-suit facility this summer.
AUSTIN, TEXAS — Regency Centers Corp. has acquired the Shops at Mira Vista, a 68,340-square-foot retail property in Austin. Located at 2785 Bee Cave Road, the shopping center is in proximity to the affluent Rollingwood and Westlake Hills neighborhoods, as well as the Austin Central Business District. The facility was 98 percent leased at the time of the sale to Trader Joe’s, Panera Bread Co., Nothing Bundt Cakes and Champions Cheer and Dance. Erik Tompkins of Regency Centers Corp. will manage leasing at the property going forward.