ASTORIA, N.Y. — Marcus & Millichap has arranged the $1.3 million sale of a seven-unit apartment building, located at 2311 Broadway in Astoria. Matthew Fotis and Lazarus Apostolidis of Marcus & Millichap represented the buyer and seller, both private investors, in the transaction.
BARNEGAT, N.J. — Levin Management has signed Big Lots as the new anchor for Bayshore Plaza in Barnegat, which is slated to open in August. The broadline closeout retailer has signed a lease to fill 31,612 square feet, formerly occupied by A&P. The center is located on Route 9 on Bay Shore Drive. Levin Management represented the property owner in the transaction.
GLASSBORO, N.J. — Community Investment Strategies (CIS) has completed work on Whitney Crescent, an 80-unit affordable housing apartment community on Higgins Avenue in Glassboro. CIS purchased the distressed property in 2010. CIS demolished nine buildings in phases and relocated tenants before rebuilding the community. The new energy-efficient apartments include hardwood floors, a washer and dryer in each unit, plus a dishwasher. Funding sources for the project included the New Jersey Housing and Mortgage Finance Agency's Special Needs Trust, Federal Tax Credit Assistance Program and JP Morgan Chase.
HOUSTON — Houston-based ITW Global Brands has opened its new $1 million, 11,000-square-foot Technology Center, a research and development facility located in Houston. The property is being used for product development, testing, evaluation and differentiation. A collection of 10 engineers and scientists staff the property.
HALTOM CITY — Hayman Woods LLC has acquired the 398-unit Bellagio at Beach Street, a multifamily community located at 4200 Northern Cross Blvd. in Haltom City. Haymoon Woods used $20.5 million in Fannie Mae financing to complete the acquisition. The amenities include two resort-style swimming pools, poolside fireplace and barbecue areas, a fitness center, business center, car wash and a 24-hour laundry facility.
ALLEN — San Antonio-based Taco Cabana has opened a new location at 810 W. Stacy Road in Allen. Sprinkle & Co. Architects handled the restaurant's redesign. There are currently more than 156 Taco Cabanas operating in three states.
HOUSTON — Marcus & Millichap has arranged the sale of a 2,520-square-foot retail property net-leased to Whataburger, located at 17234 NW Freeway in Houston. Whataburger has operated the site, which is an outparcel of the 200,000-square-foot Northwest Village, for 24 years. Vincent Knipp of Marcus & Millichap's Fort Worth office represented the seller, a Colorado-based limited liability company, in the transaction. The buyer was a California-based partnership.
SANTA MONICA, CALIF. – An eight-unit apartment complex in Santa Monica has sold to San Vicente, LLC for $4 million. The community is located at 522 San Vicente Blvd. The buyer was represented by John Taksa from RE/MAX. The seller, The Francis Claire Drooz Family Trust, was represented by Kimberly Roberts Stepp of Charles Dunn Company in this all-cash transaction.
CHANDLER, ARIZ. — Warner Commerce Park, an 85,985-square-foot industrial property in Chandler, has sold to Dalfen America for $3.35 million. The center is located at 455-495 E. Warner Road. The REO property was sold by US Bank. The sale included two manufacturing/distribution buildings, a 50,436-square-foot building at 455 E. Warner and a 35,551-square-foot building at 495 E. Warner. Dalfen America was represented by Pete Klees, Paul Boyle and Rick Danis with Cassidy Turley BRE Commercial.
PORTLAND, ORE. — A123-unitapartment complex located at 2121 Belmontin Portland has received $2 million. The 43-month,interest-onlyloan was provided by Gardiner Champlin, Marty Meagher and Erick Flycktof NorthMarq’s San Diego regional office through the firm’srelationship with a life insurance company.
