Property Type

SEVEN MULTIFAMILY AND RETAIL BUILDINGS IN NYC SELL FOR $71.5M

by admin October 8, 2013

NEW YORK CITY — GFI Realty Services Inc. has arranged the sale of seven contiguous buildings in the Kips Bay section of Manhattan for $71.5 million. Silverstone Property Group purchased the properties, which include 146 apartment units and eight stores. The properties are located at 489, 493 and 495 Third Ave. and 203, 205, 207 and 211 E. 33rd St. Approximately 60 percent of the units are free-market apartments. Yosef Katz, a director at GFI Realty Services, represented the buyer, while Barak Jacobov, also of GFI, represented the sellers, local investors.

October 8, 2013

NORTHMARQ ARRANGES $30M LOAN FOR OFFICE/INDUSTRIAL PORTFOLIO

by admin October 8, 2013

LANGHORNE AND TREVOSE, PA. — NorthMarq’s Boston regional office, has arranged a $30 million loan for the refinancing of a portfolio of 11 office and industrial properties in eastern Pennsylvania. High Street Equity owns the properties, which span 607,889 square feet and are located in Langhorne and Trevose. Financing was based on a five-year term and a 25-year amortization schedule with a flexible prepayment schedule. James Murphy of NorthMarq arranged the financing through a life insurance company lender.

October 8, 2013

Northeast Office

12-STORY WILMINGTON OFFICE BUILDING SELLS FOR $1.7M

by admin October 8, 2013

WILMINGTON, DEL. — Patterson-Woods Commercial Properties/CORFAC International has arranged the $1.7 million sale of a 12-story office building in downtown Wilmington. The sale was originated through Auction.com. Delaware Offices, a Wilmington-based property investment and management firm, sold the property. The buyer was 913 Market LLC, an entity of Sky Management Services LLC. Built in 1983, 72,000-square-foot office building was 60 percent occupied at the time of sale. Duncan Patterson, president, and Rich Dudek of Patterson-Woods Commercial Properties/CORFAC International arranged the sale.

October 8, 2013

Industrial Northeast

HOME CITY SIGNS 80,000 SF LEASE IN EDISON, N.J.

by admin October 8, 2013

EDISON, N.J. — Home City Inc., an Egyptian linens distributor, has signed a 80,000-square-foot, long-term lease at Heller Industrial Park in Edison. Home City will relocate from its current location in Linden. The facility, which is located at 180 Mill Road, features 32-foot clear ceilings, 10 loading docks and trailer parking. Jordan Metz, vice president of Bussel Realty Corp., arranged the lease.

October 8, 2013

Multifamily Texas

WOOD PARTNERS BREAKS GROUND ON $36.3M DALLAS MULTIFAMILY PROJECT

by admin October 8, 2013

DALLAS — Wood Partners has broken ground on Alta Maple Station, a $36.3 million, 249-unit apartment community in downtown Dallas. The property, located at 5522 Maple Ave., allows for easy access to the Dallas Area Rapid Transit system and major area employers Parkland Hospital, University of Texas Southwestern and Southwest Airlines. Amenities such as a resort-style pool, fitness center and media lounge will be included in the complex. Leasing is scheduled to begin in late 2014, and construction is slated for completion in early 2015. Wood Partners is acting as both developer and general contractor on the project. Good, Fulton & Farrell Architects is serving as the architect.

October 8, 2013

Office Texas

M&M BROKERS $1.3M OFFICE BUILDING SALE IN PASADENA

by admin October 8, 2013

PASADENA, TEXAS — Marcus & Millichap has brokered the sale of a 15,908-square-foot office building in Pasadena, approximately 14 miles southeast of downtown Houston. The building, located at 2702-2706 Cherrybrook Lane and previously occupied by the State of Texas, had a list price of $1.3 million. Justin Miller and Derek Hargrove of Marcus & Millichap’s Houston office represented the seller, a Houston-based limited liability company, and also secured the buyer, a Rio Grande Valley-based limited liability company.

October 8, 2013

Multifamily Texas

PANTHER INVESTMENTS SELLS 196-UNIT APARTMENT COMPLEX IN DALLAS

by admin October 8, 2013

DALLAS — Panther FW Investments LLC has sold Arbor Vista, a 196-unit Class B multifamily property in Dallas, to an out-of-state buyer. The community, located at 9850 Whitehurst Drive, offers studio, one-, two- and three-bedroom floor plans plus amenities such as commercial-grade playgrounds, barbecue and picnic areas and a clothes care center. After purchasing the asset in 2010, Fort Worth-based Panther held the complex for approximately 30 months.

October 8, 2013

Industrial Texas

NAI HOUSTON ARRANGES 30,757 SF WAREHOUSE LEASE IN HOUSTON

by admin October 8, 2013

HOUSTON — NAI Houston has arranged the lease of 30,757 square feet of warehouse space in Houston’s Northwest Industrial submarket for Sunny Sky Products LLC. Located at 1234 Silber Road, the facility is in close proximity to Interstate 10/Katy Freeway. John Ferruzzo of NAI represented the tenant — which provides a number of dispensed beverage products to convenience stores, restaurants, supermarkets and other clients — in the negotiations. Edward Bane, also of NAI, represented the landlord, Quasar Silber LTD.

October 8, 2013

Industrial Western

COMMERCE INDUSTRIAL FACILITY SELLS FOR $6.6M

by admin October 8, 2013

COMMERCE, CALIF. – A 90,000-square-foot industrial facility in Commerce has sold to ID USA for $6.6 million. The facility is located at 6557 Flotilla Street. ID USA plans to occupy and expand its operations at the new facility. The seller, Flotilla Street Property, LLC, was represented by John McMillan, Jeff Sanita and Timothy Wallace of Cushman & Wakefield.

October 8, 2013

Retail Western

PALM VALLEY PAVILIONS EAST IN GOODYEAR SELLS FOR $4.8M

by admin October 8, 2013

GOODYEAR, ARIZ. — Palm Valley Pavilions East, a 35,199-square-foot retail center in Goodyear, has sold to Claxton Real Estate LP 1 for $4.8 million. The center is located at SE McDowell and Litchfield roads. The buyer was represented by Tivon Moffitt and Peter Bauman with Colliers International. The seller, MEI Properties LLC, was represented by Andrew Fosberg, Steve Fernandez and Joseph Compagno of CBRE’s Phoenix office.

October 8, 2013

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