GREENWOOD, IND. — New HB Acquisition LLC has sold the former Hostess Wonder Bread facility, a 19,125-square-foot building in Greenwood, about 15 miles south of Indianapolis. The freestanding building is located on two acres at 710 US 31 N. Creighton Shook and Luke Householder of Coldwell Banker Commercial Realty Services represented New HB Acquisition LLC in the transaction. Bill French of Cassidy Turley represented the buyer.
NEW YORK CITY — Meridian Capital Group LLC has arranged a $10.7 million loan for the purchase of an office and industrial property in Brooklyn. The four-story, 90,000-square-foot building is located at 168 Seventh St. The seven-year loan features a fixed interest rate of 3.9 percent. A regional balance sheet lender provided the loan. Shamir Seidman of Meridian Capital arranged the loan. Tenants at the building include the Mac Support Store and Aqua Design Group.
NEW YORK CITY — Pacific College of Oriental Medicine has signed a 42,000-square-foot, 15-year office lease at 110 William St. in Brooklyn. The educational institution for East Asian medicine will occupy the entire 19th floor, plus a portion of the ground floor. Jonathan Dean, senior vice president and director of commercial leasing for Swig Equities, represented the landlord in the transaction. Mark Weiss, Robert Eisenberg and Nick Berger from Newmark Grubb Knight Frank represented the tenant. The 32-story office building spans 900,000 square feet and was 99 percent leased at the time of sale.
ALBANY, N.Y. — Marcus & Millichap has arranged the $1.7 million sale of a 29,374-square-foot, net-leased property occupied by Rite Aid in Albany. Preet Sabharwal, senior associate at Marcus & Millichap’s Manhattan office, marketed the property on behalf of the seller, a private investor, and the buyer, also a private investor. Rite Aid is located at 17-21 N. Pearl St.
NEW YORK CITY — GFI Realty Services Inc. has arranged the $1.8 million sale of five-story walk-up apartment building in the East Harlem section of Manhattan. The sale price translates to $118,000 per unit. The 8,125-square-foot property includes 10 units and is located at 336 E. 117th St. Kobi Zamir, an associate at GFI Realty Services, represented the seller, a local investor. Zamir and Roni Abudi, a managing partner at GFI Realty Services, represented the buyer, also a local investor. The apartment building was built in the early 1900s.
SOUTHLAKE, TEXAS — A holding company and development subsidiary of billionaire brothers Farris and Dan Wilks has purchased an undeveloped property in the Solana Business Park of Southlake, north of Fort Worth. The 122-acre lot was part of a larger 900-acre development that Wells Fargo & Co. foreclosed on in November 2011. Redus Texas Land, a subsidiary of Wells Fargo & Co., sold the land to the brothers, who made their fortunes of $1.4 billion each through hydraulic fracturing and oil field services, according to Forbes magazine.
AUSTIN — Construction of the new Forest Park Medical Center, a $90 million, 145,000-square-foot facility, is underway in Austin. Neal Richards Group is the project developer, Adolfson & Peterson Construction is the general contractor and Page Southerland Page is the architect. Some 66 Austin-area physicians will own the facility, which is slated for completion in the fourth quarter of 2014. Similar centers, all known by the same name, are currently operating in Dallas, Frisco and Southlake and under development in San Antonio and Fort Worth.
SAN ANTONIO — Marcus & Millichap Real Estate Investment Services has brokered the sale of Sutter’s Mill, a 128-unit multifamily community in San Antonio. The property includes 16 two-story buildings located at 11955 Parliament Drive. Moses Siller, Scott Lamontagne and Will Balthrope of Marcus & Millichap’s San Antonio, Austin and Dallas offices represented the seller, an individual/personal trust. Siller, Lamontagne and Balthrope also secured the buyer.
BRYAN, TEXAS — CBRE Hotels has arranged the sale of the historic LaSalle Hotel in downtown Bryan on behalf of Bryan Commerce and Development Inc., a local government corporation. Paul Clark Hospitality Group paid $2.6 million, according to local newspaper The Bryan Eagle. The 55-unit property, originally constructed in 1928, underwent an extensive renovation in 2000, prior to which it was vacant for more than 20 years. Bert Stevens, first vice president of CBRE Hotels in Dallas, represented the seller.
LAS VEGAS – A 47,501-square-foot medical and professional office building in Las Vegas has sold to MVP REIT Inc. $15 million. The building is part of a five-property portfolio that was recently acquired by the firm for $48.6 million. The Las Vegas asset is located at 8930 W. Sunset Road. It was built in 2008 and is 90 percent occupied by a mix of medical and professional tenants. Each tenant is bound by a triple-net lease that includes a five- to 10-year remaining term.
