NEW YORK CITY — Marcus & Millichap has brokered the sale of an apartment building, located at 314-316 50th St. in Sunset Park section of Brooklyn. The four-story, 20-unit property sold for $2.7 million to an undisclosed private investor. Matthew Fotis and Jeb Hollingsworth of Marcus & Millichap’s Manhattan office represented the buyer and the undisclosed seller in the 1031 exchange sale.
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CLINTON, CONN. — 30 Old Post LLC has purchased an 11.2-acre industrially zoned site in Clinton for an undisclosed price. Located at 30 Old Post Rd., the site offers active rail freight service and was previously used by Cheeseborough Ponds Company/Unilever. The buyer intends to remove the existing building, which collapsed in 2013. Kevin Geenty and Kristin Geenty of The Geenty Group brokered the transaction for the buyer and seller, Old Post Road Associates LLC. Robert Harrington III of Branford, Conn., and Alan Askinazi of New Jersey provided legal representation for the buyer, while Timothy Yolen of New Haven, Conn., provided legal services for the seller.
NEW YORK CITY — Silvershore Properties has purchased four multifamily buildings, totaling 37,100 square feet, in Brooklyn for $7.3 million. The company acquired 314 50th Street in Sunset Park (20 units) for $2.7 million, 167 Waverly Avenue in Clinton Hill (eight units) for $2.2 million, 87 Java Street in Greenpoint (four units) for $1.4 million, and 954 Nostrand Avenue in Lefferts Garden (two residential units and three retail shops) for $925,000. The sellers were not disclosed.
FORT WORTH, TEXAS — Colliers has brokered the sale of Western Place I and II, a pair of office towers totaling 427,000 square feet in southwest Fort Worth. The Class B assets, which are located at 6000 and 6100 Western Place along I-30, are leased to institutional tenants such as Lockheed Martin and BAE Systems. Western Place I stands 11 stories, while Western Place II stands 10 stories. Creighton Stark, Mark McEwen and Ben Lurie of Colliers represented both the seller, Sovereign Capital, and the buyer, TLC Urban, in the transaction. The acquisition required the assumption of an existing CMBS loan.
AUSTIN, TEXAS — HFF has brokered the sale of the Aspen Lake, Tower of the Hills and Tower Point office buildings, which total 380,000 square feet in northwest Austin. Fortis Group of New York acquired the properties in the transaction. Andrew Levy and Todd Savage of HFF represented the sellers, Crimson Real Estate Fund (CREF) and its co-investment partners Admiral Capital Group and USAA Real Estate Co. CREF originally purchased the assets in 2011.
OKLAHOMA CITY — Full-service real estate company Binswanger has brokered the sale of a six-building industrial complex totaling 215,290 square feet in Oklahoma City. The structures, located on approximately 15 acres at 3810 N. Tulsa Ave., feature reinforced concrete floors, 23 total loading doors, fluorescent lighting and 38,338 square feet of air-conditioned office space. Situated on the northwest side of the city, the assets are in proximity to I-44, I-40, I-35, I-235, Northwest Expressway and Lake Hefner Parkway, in addition to Will Rogers World Airport. Kipp Collins of Binswanger represented the seller, Franklin Electric Co. Inc., in the transaction. The buyer, Orton Development Inc., plans to market the property for sale or lease to a variety of users.
SAN ANTONIO — Berkeley Point Capital LLC has arranged a $9.8 million refinance loan for Aguila Oaks Apartments, a 346-unit multifamily community in San Antonio. The affordable housing property includes 25 garden-style apartment buildings, two swimming pools, two laundry facilities, a leasing office and a learning center. Mickey Rist of Berkeley originated the 35-year, FHA 223(a)(7) loan. California-based Cesar Chavez Foundation, which has built or renovated 42 communities in California, Arizona, New Mexico and Texas, is the sponsor. Funds from the refinancing will be used for near-term capital improvements and a large initial deposit to reserves for future capital needs.
LOS ANGELES — Greenland Group has purchased Metropolis, a 6.33-acre development site in Downtown Los Angeles, for a reported $150 million. The five-parcel site is located along Francisco Street. It spans from 8th Street to James W. Wood Boulevard between the Convention Center/LA Live Entertainment District and the Financial District. The land is entitled for about 1.65 million square feet of multifamily, hotel, office and retail space. The China-based group intends to break ground in the next 30 days. The seller, a joint venture between IDS and an institutional pension fund, was represented by Patrick Spillane and Rob Fuelling of IDS Real Estate Group, and by CBRE’s Laurie Lustig-Bower, Onno Zwaneveld, Brad McCarthy, Rod Apodaca, Bob Kaplan and Andrew Behrens.
HENDERSON, NEV. — MIG Real Estate has acquired Sansone Pecos II, an eight-building office portfolio in Henderson for an undisclosed sum. The portfolio consists of office and medical office buildings that total 122,922 square feet. It is located at 9005-9089 South Pecos Road.
CHANDLER, ARIZ. — ViaWest Group has purchased San Tan Tech Center, a 129,187-square-foot office building in Chandler that caters to life sciences and technology companies, for $9.6 million. The Class A center is located at 145 S. 79th Street. It was built in 1981 and renovated in 2010. The City of Chandler is the center’s largest tenant. It occupies 49 percent of the property, with its lease due to expire in 2024. The city is doing business at the center as Innovations, an incubator targeting entrepreneurs in the life sciences and emerging technology industries. Other notable tenants at the center include the University of Arizona Center for Applied NanoBioscience & Medicine, HealthTell and Cummings Engineering. ViaWest represented itself in this transaction. The seller, Capital Commercial Investments, was represented by CBRE’s Barry Gabel and Chris Marchildon.