GALLOWAY, N.J. — Cushman & Wakefield has brokered the $13.7 million sale of Smithville Square, a 106,931-square-foot retail property in Galloway, located in Atlantic County. Anchored by Curexa Pharmacy, the property spans 26 acres and was 97 percent leased to 19 tenants at the time of sale. Frank DiTomasso, Andy Schwartz, Jordan Sobel, Max Helfman, Andre Balthazard and Dan Bottiglieri of Cushman & Wakefield represented the seller, P3 Properties, in the transaction. The buyer was Western Building Co.
NEW YORK CITY — Greystone has provided an $11.3 million Fannie Mae loan for the refinancing of The Duke, a 28-unit apartment building located at 521 W. 134th St. in Harlem. The midrise building features a virtual doorman and a rooftop terrace. Avi Kozlowski of Greystone originated the loan, which was structured with a fixed interest rate, 30-year amortization schedule and interest-only payments for the first two years of the five-year term. The borrower was Haussmann Development.
WARETOWN, N.J. — First National Realty Partners (FNRP) has acquired Waretown Town Center, an 87,735-square-foot shopping center in coastal New Jersey. The sales price was $14.2 million. A 60,800-square-foot ShopRite grocery store anchors the property. Other tenants at the center, which was 96 percent leased at the time of sale, include Meridian Health, Shore Smiles Dentistry, Saladworks and Great Clips. Colin Behr and Chris Munley, Ryan Sciullo, Casey Benson Smith, R.J. Mirabile and Michael Pascavis of CBRE represented the seller, Chancellor Development, in the transaction.
ST. PETERSBURG, FLA. — Basis Industrial has acquired Pinellas Business Center, a six-building, 206,275-square-foot industrial park in the Tampa Bay city of St. Petersburg. Dale Peterson, Joe Chick and Courtney Snell of CBRE Capital Markets represented the seller, Taurus Investment Holdings, in the transaction. The sales price was not disclosed. Originally built in 1985 and 1986, Pinellas Business Center underwent a $3 million façade renovation project in 2022 and 2023. The property was 93 percent leased at the time of sale to firms occupying spaces ranging from 2,000 square feet to just over 41,000 square feet.
COLONIAL HEIGHTS, VA. — Lingerfelt has inked a 233,359-square-foot industrial lease at Ruffin Mill Distribution Center, an industrial park in Colonial Heights, about 23 miles south of Richmond. The Memphis-based tenant, Vital Records Control, will occupy Buildings A and C, which are located at 1944 and 1998 Ruffin Mill Road, respectively. Matt Anderson and Harrison McVey of Range Commercial Partners represented Lingerfelt in the lease transaction, which brings Ruffin Mill Distribution Center to full occupancy.
HUNTSVILLE, ALA. — CBRE has arranged a $16.5 million loan for the refinancing of Westbury Square, a 117,689-square-foot shopping center in south Huntsville. Richard Henry, Mike Ryan, Brian Linnihan, and Taylor Crowder of CBRE arranged the financing through Delta Community Credit Union on behalf of the borrower, Branch Properties, which acquired the property in March 2018. Situated on 11.5 acres about 10 miles south of downtown Huntsville, Westbury Square was 98.5 percent leased at the time of financing to 20 tenants, including T.J. Maxx, Ross Dress for Less and pOpshelf.
BESSEMER, ALA. — Marcus & Millichap has brokered the sale of Second Attic Storage, a 302-unit self-storage facility located on a three-acre site at 1760 4th Ave. SW in Bessemer, about 19 miles southwest of Birmingham. Eddie Greenhalgh, Jake Payne and Lee Thornton of Marcus & Millichap’s Birmingham office represented the seller and procured the buyer, both limited liability companies that requested anonymity, in the transaction. The sales price was also not disclosed.
HANOVER, MD. — Cushman & Wakefield has negotiated the sale of a newly constructed warehouse located at 7314 Race Road in Hanover, roughly 30 miles northeast of Washington, D.C. The 130,389-square-foot facility was 67 percent leased at the time of sale to one credit tenant. Jonathan Carpenter, Graham Savage, Dawes Milchling and James Check of Cushman & Wakefield represented the undisclosed seller in the transaction. Sagard Real Estate purchased the warehouse for an undisclosed price. Situated near Md. Route 100 and I-95, 7314 Race Road features 32-foot clear heights, 32 loading positions and 98 parking spaces.
LOS ANGELES — Advanced Real Estate has purchased Canvas LA, a multifamily property along 110 Freeway in downtown Los Angeles, for $62 million. Canvas LA offers 210 apartments; a resort-style pool with cabanas; large gym with separate cardio studio; game room; conference and office space; screening room; and sky deck with fire pit. Advanced Real Estate plans to lightly renovate the asset, which underwent a $3 million renovation in 2018. Blake Rogers, Kevin Sheehan, Ryan Fitzpatrick, Chelsea Jervis, CJ Angle, Alexandra Caniglia and Kip Malo of JLL Capital Markets brokered the sale. Advanced procured a $39.9 million Freddie Mac loan at a fixed rate for seven years with full-term interest-only payments for the acquisition. Kevin MacKenzie, Greg Brown and Charlie Vorsheck of JLL Capitla Markets arranged the financing. The seller was not disclosed.
SAN FRANCISCO — San Francisco State University (SFSU) has completed West Grove Commons, a 700-bed residence hall located on the university’s campus in San Francisco. The 120,000-square-foot community features a cluster format wherein groups of 35 students occupy triple rooms with a dedicated lounge and all-gender bathroom facilities. The six-story project was funded by a California Affordable Student Housing grant and the community will offer beds with a 25 percent reduction in room fees compared to SFSU’s standard rates. The project also includes a second 50,000-square-foot building, which will feature a dining commons and student health and wellbeing center. The development team for the project included general contractor McCarthy Building Cos. and EHDD Architecture.