COLUMBUS — Hackman Capital has acquired a portfolio of 11 industrial properties totaling 2.5 million square feet. The portfolio is 88 percent occupied and is comprised of a mix of multi- and single-tenant industrial, flex and distribution properties. Ten of the properties are located in the Columbus area and the remaining property is located in Ruther Glen, Va. Binswanger represented the seller, Schottenstein Property Group, in the transaction.
MARYSVILLE, OHIO — Mill Valley Plaza, an 18,353-square-foot retail plaza in Marysville, has sold to a private investor based in New Jersey for $2.7 million. The property opened in 2007 and is located 25 miles northwest of Columbus off State Route 31. Dan Cooper of Cooper Commercial Investment Group represented the seller, a private investment group from Central Ohio, in the transaction. He also secured the buyer.
CHICAGO — Marcus & Millichap has arranged the $538,000 sale of 2459 North Ashland, a four-unit mixed-use property in Chicago. The property is fully occupied and contains three apartments and one live/work unit. Kyle Stengle of Marcus & Millichap represented the seller, a private investor, and the buyer in the transaction.
NEW YORK CITY — Vorando Realty Trust has agreed to redevelop the retail and signage components of the Marriott Marquis Times Square hotel at 1535 Broadway in Manhattan. The real estate investment trust plans to invest $140 million in improvements, including converting the underground parking garage into stores and adding six stories of LED signs. Vornado entered into a lease with the landlord, Host Hotels and Resorts Inc., to reposition the property. The lease also contains an option for Vornado to purchase the space from Host Hotels, at a price based on future cash flow.
OSWEGO, N.Y. — SRE-Midtown Acquisitions has purchased Midtown Plaza, a 68,000-square-foot retail center in Oswego. The property contains two floors of retail and office space. Tenants include Rite Aid Pharmacy, Joanne Fabric and The Green Planet Grocery. The new owners are working with the City of Oswego to identify ways to enhance the property, which is located at one of the busiest corners in the city. Louis Fournier and Larry Socia of The Sutton Cos. represented the seller, Dawn BV II, in the transaction. They also represented the buyer.
NEW YORK CITY — Meridian Capital Group has arranged $6 million in financing for the acquisition of two multifamily properties in Brooklyn. The properties include a 20-unit building at 50 Orange St. and a 10-unit building at 161 Columbia Heights. Shamir Siedman of Meridian negotiated the loans on behalf of the borrower, Sugar Hill Capital Partners. Sugar Hill purchased the properties from the Jehovah's Witness-operated Watchtower Bible and Tract Society of New York, which infrequently sells real estate holdings.
NEW YORK CITY — Manhattan-based JEMB Realty has agreed to buy the real estate interests from clothing retailer Daffy's, which filed for bankruptcy Wednesday. Terms of the deal were not disclosed. According to a statement, JEMB will acquire “leasehold interests, certain real estate fixtures and certain intellectual property,” as well as three of Daffy's real estate properties located in the Northeast.
EDISON, N.J. — CDS Inc., which warehouses and distributes furniture, has signed a lease for 29,167 square feet of industrial space at 95 Ethel Road in Edison. The single-story property encompasses 101,928 square feet and features a 22-foot clear ceiling height. Barry Cohorsky of NAI Hanson represented the tenant in the transaction. Steve Bartner of Embee Associates represented the landlord.
HOUSTON — Whole Foods has pre-leased a 40,000-square-foot anchor space in a 135,000-square-foot development in the Vintage Marketplace in north Houston. The developer and owner, Read King Inc., was self-represented in the lease transaction by Tony Patronella and Christie Amezquita. The Whole Foods will be the first location in Houston north of Interstate 10. The development will break ground in January 2013 and is slated for a July 2013 delivery.
HOUSTON — Calkain Cos. has arranged the $6.25 million sale of a 21,518-square-foot retail property in Houston that is leased to Wells Fargo. The lease term is 15 years. Andrew Fallon and Jerry Burg of Calkain Cos. represented the international buyer in the 1031 exchange.