NEW YORK CITY — Two adjacent apartment buildings at 38-52 Fort Washington Ave. have sold for $13.6 million. The six-story buildings contain a total of 117,276 square feet. The property is located near Columbia Presbyterian Hospital and the Broadway retail artery. Riverside Park and Highbridge Park are also nearby. Recent upgrades to the property include new elevators, roofs, boilers, intercoms and fire escape cages. Robert Shapiro of Massey Knakal represented both parties in the transaction.
WOBURN, MASS. — M&K Engineering has purchased 166 New Boston St., a single-story industrial building in Woburn, for $2.1 million. M&K will use the building to expand its precision machining business. James and David Stubblebine of The Stubblebine Co./CORFAC International represented the seller and procured the buyer in the transaction.
KATY, TEXAS — Panattoni Development Co. has begun construction on a 420,000-square-foot build-to-suit facility for Igloo Products Corp. in West Ten Business Park in Katy. The property will be used as a distribution center for Igloo's line of outdoor cooling products. The facility will be Igloo's third distribution center and is located within two miles of Igloo's headquarters. Bob Hutson of Symmedian Technologies, along with John Nicholson of Transwestern, represented the tenant in the land transaction. Evans General Contractors is the general contractor and Randall-Paulson Architects is the architectural firm for the project.
EL PASO AND EDINBURG, TEXAS — Cinemark Holdings has plans to launch two new six-screen movie theaters in El Paso and Edinburg. The Cinemark Movie Bistro-Sunland Park, located at 750 Sunland Park Drive in El Paso, will be part of the Sunland Park Mall development. The Cinemark Movie Bistro-Edinburg, located on the northwest corner of Trenton Road and Rhonda Street in Edinburg, will be part of the Trenton Crossroads Plaza development. Both theaters are scheduled to open in the summer of 2013.
BELLAIRE AND HUMBLE, TEXAS — Houston-based Allen Harrison Co. has disposed of two multifamily communities in the greater Houston area: the 714-unit Villages at Meyerland in Bellaire and the 152-unit Deerbrook Forest in Humble. Villages at Meyerland recently underwent $5 million in renovations and is 93 percent occupied. Deerbrook Forest has undergone a $1 million renovation and is 94 percent occupied. AHC Construction, an affiliate of Allen Harrison Co., was the general contractor on the renovation for both communities. David Wylie, Russell Jones and Zach Springer of ARA represented Allen Harrison Co. in the Deerbrook Forest sale, while Robby Zorich and Holly Minter of Jones Lang LaSalle Capital Markets represented the sale of Villages at Meyerland. Mosaic Residential manages the properties.
WEBSTER, TEXAS — Colliers International has arranged the sale of Bay Terrace I & II, two office/flex properties totaling 200,378 square feet in Webster. The properties are located at 17155 Feathercraft and 555 Forge River inside of Houston's NASA/Clear Lake submarket. Dan Braun is the buyer.
EL PASO, TEXAS — River Oaks Properties has purchased the 137,386-square-foot Coronado Shopping Center, a grocery-anchored center located in El Paso. River Oaks purchased the shopping center from Rich Development. The property is fully occupied by Anna's Linen, AutoZone, Big 8 Grocery, Dollar Tree, Eraser Dust, Harbor Freight, Goodwill, Sally Beauty Supply, Rent-A-Center and a Carl's Jr. pad site. River Oaks also acquired a Starbucks pad site in a separate transaction.
LA JOLLA, CALIF. — In Eden, a 17-unit apartment building in La Jolla, has sold to an unnamed buyer for $8.9 million. The community is located at 600-616 Prospect Street. The seller, a limited liability company, was represented by Aaron Bove and Ben Tashakorian of Marcus & Millichap’s San Diego office. The buyer was represented by Dave Plutner of DP Properties.
TORRANCE, CALIF. – Hawthorne Promenade, a 7,440-square-foot retail property in Torrance, has sold to Ron B. Tucker for $5 million. It is located at 20016 Hawthorne Blvd. The property is fully occupied by tenants like Trader Joe’s, Ross, Marshalls, Party City, Sears Outlet, David’s Bridal, Payless Shoes, Babies-R-Us, Office Depot and In-N-Out Burger. The seller, Hawthorne Promenade LLC, a subsidiary of Arenda Capital Management, LLC, was represented by Peter J. Lund and Scott Crane of NAI Capital’s West Los Angeles office.
GOODYEAR, ARIZ. – The 69-unit Greenwood Apartments in Goodyear has sold to Neil Sechan and Mathew Messner for $3.4 million. The community is located at 1322 N. La Jolla Blvd. The seller, Park Shadows Country Homes, was represented by Brian Smuckler and Jeff Seaman of CBRE’s Phoenix office.
