NEW YORK CITY — Massey Knakal Realty Services has arranged the sale of an office building portfolio for Yeshiva University for $87.5 million. The buildings are located in New York City and include: 920 Broadway, a 16-story office building located on the southeast corner of Broadway; and 9 East 38th Street, a 12-story office building located on the north side of East 38th Street, between Fifth Avenue and Madison Avenue. Bob Knakal and John Ciraulo of Massey Knakal handled the transaction.
SECAUCUS, N.J. — Hartz Mountain Real Estate has sold 2 Emerson Lane, a two story, 283,215-square-foot industrial facility in Secaucus for $18.4 million. CoreSite Realty Corp. purchased the property. The industrial building is situated on a 10-acre site and is close to the New Jersey Turnpike, Interstate 495, Newark Liberty Airport and Port Newark. It was purchased vacant and will be converted to a data center. The HFF investment sales team represented Hartz Mountain Real Estate in the deal.
NEW YORK CITY — Macy’s has renewed its 646,000-square-foot lease at Eleven Penn Plaza in Manhattan until 2035. Eleven Penn Plaza is a 1.1 million-square-foot office building in the Penn Plaza district where Vornado Realty Trust owns approximately 9 million square feet of office, retail and hotel space. The building was built in 1923 and has 23 floors. Macy’s, with corporate offices in Cincinnati and New York, is a national retailer with fiscal 2011 sales of $26.4 billion.
FRISCO, TEXAS — ARA has brokered the sale of the 208-unit Broadstone Stonebriar in Frisco. The Class A apartment community was built in 2010 and is currently 92 percent occupied. Brian O'Boyle, Sr., Brian O'Boyle, Jr., and Brian Murphy of ARA's Dallas office represented the seller in the transaction.
HOUSTON — Marcus & Millichap has arranged the sale of the 111,824-square-foot Huntington Village Shopping Center, located at 12605 Bissonnet in Houston. The shopping center's list price was $6.65 million. Jerry Goldstein of Marcus & Millichap's Houston office represented the seller, Brixmor Properties, in the transaction.
PLANO, TEXAS — Jones Lang LaSalle has brokered the sale of a 32,262-square-foot office building, located at 6101 W. Plano Parkway in Plano. The buyer, Starkey Mortgage, will use the office building as its new corporate headquarters. Steve Thelen and Stephen Holley represented the buyer in the transaction. Michael Bowles of John Bowles Co. represented the seller.
BETHESDA, MD. — Bethesda-based Beech Street Capital has arranged $15 million in Fannie Mae DUS loans to refinance a four-apartment portfolio in Dallas, San Antonio, Austin and San Angelo. The apartment communities total 625 units and include Solarium Apartments in the Dallas MSA, Village Green Apartments in Austin, Encino Park Apartments in San Angelo and La Calera Apartments in San Antonio. Larry Sneathern of Beech Street's Dallas office originated the transactions. The fixed-rate loans have 10-year terms and will amortize over 30 years.
LEWISVILLE, TEXAS — The Weitzman Group and Cencor Realty Services have been assigned to lease and manage the 315,008-square-foot Lakepointe Crossing Shopping Center in Lewisville. The shopping center, located at State Highway 121 and Interstate 35 East, is shadow-anchored by Garden Ridge. The shopping center's tenants include Academy Sports + Outdoors, Toys “R” Us, Conn's, Pier 1 Imports and David's Bridal. Austin Schenkel and Matt Baisch of The Weitzman Group will handle the center's leasing efforts, while Stephanie Burgess of Cencor is the center's property manager.
SAN FRANCISCO – The 443-unit Fox Plaza Apartments in San Francisco has sold to Essex Property Trust for an undisclosed sum. The vintage concrete tower is located at 1390 Market Street. The building also contains 13 floors of office space, a 399-car underground garage and an attached two-story retail building that houses Starbucks and other retailers. The residential units are situated on floors 14 through 29. Archstone acquired the entire tower in 2005 for $147.5 million. It sold the 232,000-square-foot office/retail component to Broadreach Capital for $42.7 million in 2007. Broadreach still owns that component. The recent sale was executed by David Orozco of Cassidy Turley and Frank Wheeler of Colliers International.
SCOTTSDALE, ARIZ. – The 304-unit Acacia Creek apartments in Scottsdale has sold to MIG Real Estate, LLC for an undisclosed sum. The community is located at 7007 E. Gold Dust Ave. Alliance Residential will manage the property. MIG represented itself in this transaction, while the seller was represented by CBRE’s Sean Cunningham and Tyler Anderson.
