UNION, N.J. — Atlantic Star Trucking Inc. has signed a long-term lease for 60,000 square feet of industrial space at 1835 Burnet Ave. in Union. The company, which specializes in importing and exporting, will use the site for warehouse and distribution purposes. Barry Cohorsky of NAI Hanson represented the owner, Miller Industrial Properties, in the deal. Jones Lang LaSalle's Iselin, N.J. office represented the tenant.
CAMBRIDGE — The Beal Cos. has selected Roundhill Construction to create two separate office and lab space build-outs at One Kendall Square in Cambridge. Roundhill will create 10,000 square feet of laboratory and office space for GnuBIO, a privately held company that develops gene sequencing technology for clinical applications. Roundhill will also fit out 4,500 square feet of office space for Crashlytics, a start-up company that creates debugging and crash reporting software for mobile computer device applications. Owned by The Beal Cos., One Kendall Square is a 770,000-square-foot, mixed-use property.
SCHERTZ — San Antonio-based 4M Realty Co. has brokered the sale of a 386,000-square-foot industrial property, located at 1150 Schwab Road in Schertz on a 42-acre lot. Michael Weiss and Nick Prater of 4M represented the seller, City Bank Texas, in the transaction. John McMillan of San Antonio-based First American Commercial Property Group represented the buyer, Salof Properties.
HOUSTON — Cadence McShane has been selected to build the 90,000-square-foot Dogan Scott Elementary School, located at 4202 Liberty Road in Houston, on behalf of the Houston Independent School District. The new school will consolidate the former Scott and Dogan elementary schools into a single establishment. The new school will feature 40 classrooms, science labs, a full-service kitchen, a cafeteria and administrative offices. Cadence McShane will also complete the sitework, landscaping, playground areas and an 85-space parking lot. ESPA CORP is providing architectural services for the project, which is slated for a spring of 2013 completion.
HOUSTON — NAI Houston has arranged the sale of a 26,000-square-foot industrial building, located at 80 White Road in Houston. Clay Pritchett of NAI Houston represented the seller, Martinez A&M Investments, in the transaction and procured the undisclosed buyer.
COALINGA, CALIF. – The 80-unit Tara Glenn apartments in Coalinga has sold to HPD Tara Glenn L.P. for $3.8 million. The community is located at 550 East Glenn. The seller was Tara Glenn Associates. The sale was executed by Al R. Inouye and Steven A. Nelson of Hendricks & Partners’ Sacramento office.
PHOENIX — Faris Lee Investments has sold three free-standing properties in the Greater Phoenix area that are occupied by Pizza Huts for a total of $3.55 million. The properties were sold to individual, all-cash buyers from California and Arizona. The locations offered absolute NNN leases with either 15- or 20-year lease terms upon the close of escrow. The three acquisitions included 4708 South 48th Street in Phoenix that sold for $1,629,000; 2056 E. Baseline Road in Mesa that sold for $1,118,000; and 808 West Broadway Road in Tempe that sold for $800,000. Dennis Vaccaro and Matthew Mousavi of Faris Lee marketed all three properties on behalf of a Pizza Hut franchisee who operates 46 Pizza Huts throughout Arizona and Texas.
WEST HOLLYWOOD, CALIF. — A 5,700-square-foot retail building in West Hollywood has sold to Interior Illusions for $2,385,000. The upscale furniture retailer and interior design services company has occupied the single-tenant, three-story building for the past year. The property, which was constructed in 1929 and renovated in 2006, is located at 7335 Santa Monica Blvd. Trevor Belden of Lee & Associates-LA North/Ventura and Jay Martinez of J. Martin & Associates-KW Commercial represented both the buyer and the seller, VIA Lending Co., LLC/KAR Properties Inc., in this transaction.
PLANT CITY, PORT ORANGE AND DELAND, FLA. — A 900-unit multifamily portfolio, containing four properties located in central Florida, has sold for $50 million according to property records. The properties include the 352-unit Hunter's Ridge at Walden Lake in Plant City; the 168-unit Mallards of Brandywine in DeLand; and the 208-unit Pierpoint and the 172-unit The Groves in Port Orange. Cole Whitaker and Hal Warren of Hendricks & Partners' Orlando, Fla., office represented Colorado-based UDR, the seller, in the transaction. The buyer was a private investment firm.
POOLER, GA. — A joint venture between Atlanta-based Cortland Partners and Atlanta-based Batson-Cook Development Co. has started construction on the $35 million, 325-unit Two Addison Place, an apartment complex located on 1200 block of Pine Barren Road in Pooler, a submarket of Savannah. Community and Southern Bank, NXT Capital and Kaufman Realty Group provided funding for the project, which is slated for completion in early 2013.
