INDIALANTIC, FLA. — Marcus & Millichap has brokered the sale of a 15,525-square-foot retail building net-leased to CVS/pharmacy in Indialantic for $5.1 million. Michael Lombardi of Marcus & Millichap’s New Jersey office represented the seller, a developer based in the Northeast United States. Lombardi partnered with Preet Sabharwal of Marcus & Millichap’s Manhattan, New York, office to represented the buyer. Kirk Felici assisted with the transaction.
LAUDERDALE LAKES, FLA. — Construction is complete for a new facility for the Florida Department of Corrections. The building totals 5,855 square feet and is located at 3714 W. Oakland Park Blvd. in Lauderdale Lakes. It will contain offices for the department’s probation and parole divisions. Berger Commercial Realty was the construction manager for the project.
EVENDALE, OHIO — A partnership between MedProperties Holdings LLC and Equity Inc. has acquired the Evendale Healthcare Center medical office building in suburban Cincinnati. The four-story, 65,670-square-foot Evendale Healthcare Center is located on 4.6 acres at 10475 Reading Road in Evendale. The multi-tenant medical office building is situated between interstates 71 and 75, near the intersection of Reading Road and Glendale Milford Road. Equity Inc., a Columbus, Ohio-based commercial real estate company with offices in Cincinnati, is providing property management for the Evendale Healthcare Center, and Republic Commercial Real Estate will provide leasing. MedProperties Holdings is a Dallas-based healthcare real estate private equity investment firm.
ALGONQUIN, ILL. — Baum Realty Group LLC has arranged the sale of Randall Crossing, a two-building retail property in the Chicago suburb of Algonquin. The 27,521-square-foot building is located at 2503 – 2535 N. County Line Road and was 67 percent occupied at the time of sale. Greg Dietz, Danny Spitz and Ben Brichta of Baum’s investment sales team represented the seller. Baum also procured the buyer, an out-of-state investor, in the transaction. Tenants at the property include Men’s Wearhouse, Eye Boutique, T-Mobile and Great Clips.
INDIANAPOLIS — The Boulder Group has completed the sale of a triple-net-leased property located at 9240 Rockville Road in Indianapolis for $5.7 million. Walgreens occupies the 14,820-square-foot building, which has 15 years left on its lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based developer, in the transaction. The buyer was a Texas-based private investment firm.
OAK BROOK, ILL. — Federal Signal has signed a lease renewal for its 17,282-square-foot office in Oak Brook Regency Towers in Oak Brook, a suburb of Chicago. Federal Signal is a designer and manufacturer of products and solutions that serve municipal, government, industrial and institutional customers and has been headquartered at the property for more than 25 years. Patrick Kiefer, executive director with NAI Hiffman’s office services group, represented the landlord, American Realty Advisors, in the transaction. Jeff Liljeberg of Jones Lang LaSalle represented Federal Signal.
NEW YORK CITY — HFF has arranged $100 million in long-term financing for a 510-unit, high-rise residential property in Manhattan’s Murray Hill neighborhood. Prudential Mortgage Capital Co., the commercial real estate finance business of Prudential Financial Inc. (NYSE: PRU), provided the 20-year, fixed-rate loan. The 39-story building is located on 39th Street between First and Second avenues and includes studio, one- and two- bedroom units. Community amenities include a doorman, parking garage, laundry facilities and bicycle storage. The HFF team representing the borrower included senior managing director Michael Tepedino, managing director Steven Klein and associate director Jennifer Keller. Sarah Teunis, director, and Kathryn Bradford, senior analyst, represented Prudential.
WATERBURY, CONN. — Fairmount Heights Associates LP has sold Country Village Apartments, a 232-unit, HUD-subsidized property in Waterbury, for $17 million. Constructed in 1948, Country Village Apartments is situated on 30 acres and is one of the largest apartment complexes in Waterbury. Fairmount Heights purchased the property in January 1983. Steve Pappas of Chozick Realty represented Fairmount Heights Associates in the transaction. The buyer is Country Village Apartments LLC, which secured an additional $15 million in CHFA financing through tax credits for property renovations. The renovation plans include new kitchens, appliances, bathrooms, flooring, windows, doors, roofs, common areas, as well as improvements to the landscaping and playgrounds.
NEW YORK CITY — RKF has arranged the $9.2 million sale of a 6,800-square-foot mixed-use building located at 325 Bowery in Manhattan. Robert Futterman, chairman and CEO, and Brian Segall, senior director at RKF, represented the seller, 325 Bowery Development LLC, and the buyer, Atlas Bowery LLC, an affiliate of Atlas Capital Group LLC, in the transaction. Located on the northeast corner of 2nd Street, 325 Bowery includes retail and loft-style residential space on four floors above a basement and sub-basement. Peels NYC café occupies the ground floor.
WILMINGTON, DEL. — Marcus & Millichap has arranged the $1.6 million sale of, a 2,315 square-foot net-leased property located in Wilmington. Kentucky Fried Chicken and Taco Bell occupy the building, which is located at 1917 Lancaster Ave. Russell Wachtler, investment associate, and Glen Kunofsky, executive vice president investments at Marcus & Millichap’s Manhattan office, along with Donald MacLaren, first vice president investments of Marcus & Millichap’s Philadelphia office, marketed the property on behalf of the seller, a private investor.