MIDDLETOWN, CONN. — Baker Middletown LLC has purchased Town Place Apartments, a 166-unit complex in the West Lake district of Middletown, for $18.6 million. The community consists of of seven two-, three- and four-story buildings. Steve Witten and Victor Nolletti of the New Haven office of Institutional Property Advisors (IPA) represented the seller, CAPREIT Town Place LP. IPA also represented the buyer.
NEW YORK CITY — Meridian Capital Group has arranged $28 million in financing for a 12-story office building in Queens, on behalf of Pi Capital Partners LLC. An undisclosed local bank provided the five-year loan, which carries a 3.75 percent rate. Cary Pollack of Meridian's New York office negotiated the transaction. The 60,000-square-foot building includes 8,600 square feet of ground-floor retail space.
JERSEY CITY, N.J. — Time Equities Inc. has purchased a 9,134-square-foot retail condominium, located at 389 Washington St. in Jersey City, for $2.8 million. The property is on the ground floor of the Luxury A Condominiums, a 33-story residential building. Jeff Fishman, Barry Fishbach, Brian Segall and Jonathan Butwin of RFK's New York office represented the project's developer, GTIS Partners. Time Equities was represented in-house by Chris Pulling and Hy Schermer.
DALLAS — CyrusOne has plans to reposition a 700,000-square-foot property that it owns on a 30-acre parcel of land in the suburb north of Dallas to become the largest data center facility in Texas. CyrusOne plans to construct the facility to provide 400,000 square feet of raised floor data center space and 60,000 square feet of office space. The new facility will be constructed to achieve LEED Platinum certification.
MAGNOLIA — Marcus & Millichap has arranged the $1.7 million sale of the 13,013-square-foot Magnolia Plaza, a retail center located at 18602 FM 1488 in Magnolia. James Bell of Marcus & Millichap's Houston office represented the seller, a private investor, in the transaction.
SAN MARCOS — NAI REOC Austin has brokered the sale of a 64,733-square-foot industrial property, located at 1000 Civic Center Loop in San Marcos. Jerry Heare of NAI REOC Austin, along with Garrett Gibson of Houston-based Gibson & Granello, represented the buyer, Houston-based DCV Development, in the transaction. The seller was SH Leggitt Co.
HOUSTON — Jones Lang LaSalle has arranged the lease of 21,688 square feet of industrial space, located at 2030 W. Sam Houston Pkwy. N. in Houston. Jarret Venghaus of Jones Lang LaSalle's Houston office represented the tenant, EIS Office Solutions, in the lease transaction. Ed Bane of Holt Lunsford Commercial's Houston office represented the landlord, Real Associates Fund VI.
CERRITOS, CALIF. — A 27,985-square-foot industrial building in Cerritos has sold to a buyer in the automotive industry for $2,966,410. The building was constructed in 1969 and includes 4,500 square feet of office space. Christopher Sheehan and Adam Deierling of Colliers’ South Bay office represented both the buyer, which will act as an owner-user, and the seller, a private investor.
SUN VALLEY, CALIF. – A 23-unit apartment community in Sun Valley has sold to Thomas W. Mathie & Carlos Deviez for $2,192,000. It sold at a 5.82 percent cap rate. Marcus & Millichap represented the buyers. David J. Harrington Hendricks & Partners’ North Los Angeles office represented the seller, Alpha Limited Partnership.
LOS ANGELES — Dongell Lawrence Finney LLP has signed a 10-year lease for the entire 45th floor of the AON Tower inside Los Angeles’ Financial District. The 19,118-square-foot space will house the mid-sized law firm’s main office. Sean O’Leary and Jim Jandro of Grubb & Ellis represented Dongell Lawrence in this transaction, along with firm partners Richard Dongell and John Lawrence. The firm also worked closely with Michael Meyer of DLA Piper. Jones Lang LaSalle’s John McAniff and Tim Miller collaborated with Andy Fishburn of the property ownership 707 Wilshire Fee LLC.
