Property Type

SSTI ACQUIRES 12 SELF-STORAGE PROPERTIES FOR $80M

by admin January 5, 2012

GEORGIA AND FLORIDA — Strategic Storage Trust, Inc. (SSTI) has purchased a portfolio of 12 self-storage properties in Georgia and Florida for approximately $80 million. The properties total 8,000 units and nearly 1 million square feet. The facilities will be rebranded under the SmartStop Self Storage name. The Georgia properties are located in Kennesaw, Sharpsburg, Duluth (three properties), Marietta, Austell, Sandy Springs, Smyrna and Lawrenceville. The remaining two properties are in Jacksonville, Fla.

January 5, 2012

TRINITY PLACE OFFICE BUILDING SELLS FOR $15.4M

by admin January 5, 2012

RALEIGH, N.C. — The 112,000-square-foot Trinity Place, an office building located at 1201 Edwards Mill Rd. in Raleigh, has been sold for $15.4 million. Tenants include AT&T, AeroTek, RSM McGladrey and CapStrat. Denver-based Fairfield Asset Advisors represented both parties in the transaction.

January 5, 2012

Retail Southeast

WALGREENS SELLS FOR $7.37M

by admin January 5, 2012

MOUNT PLEASANT, S.C. — A 14,500-square-foot, single tenant net-leased Walgreens, located at 2903 N. Hwy. 17 in Mount Pleasant, has been sold for $7.37 million. Randy Blankstein and Jimmy Goodman of Northbrook, Ill.-based The Boulder Group represented the buyer, a Chicago-based 1031 exchange investor, in the transaction. The seller was a Southeast-based developer.

January 5, 2012

Industrial Southeast

SOUTHPACE PROPERTIES ARRANGES $2.6M INDUSTRIAL SALE

by admin January 5, 2012

BESSEMER, ALA. — Birmingham, Ala.-based Southpace Properties has arranged the $2.6 million sale of the 72,600-square-foot Academy Business Park, a four-property industrial park located on Powder Plant Road in Bessemer. Rich Vanchina of Southpace Properties represented the seller, 2226 Academy, in the transaction. Michael Randman, also of Southpace Properties, represented the buyer, an investor.

January 5, 2012

Retail Southeast

DOWLING MILLS CORPORATE PARK SELLS FOR $1M

by admin January 5, 2012

TAMPA, FLA. — The 14,000-square-foot Dowling Mills Corporate Park, a former day care and office facility located at 7815 Gunn Hwy. in Tampa, has been sold for $1 million. Also included in the transaction was a separate vacant pad that can accommodate a building of up to 12,000 square feet. Bill Besselieu of Tampa-based Andretta Properties represented the seller, Regions Bank, in the transaction. The buyer was Thuzi Investments I.

January 5, 2012

Midwest Multifamily

EdR BUYS STUDENT HOUSING IN ST. LOUIS FOR $28.4M

by admin January 5, 2012

ST. LOUIS — Memphis-based EdR has purchased 3494 Lindell, a four-story apartment complex near St. Louis University in St. Louis, for $28.4 million. EdR, a real estate investment trust, owns, develops and manages collegiate housing. The property includes 197 studios, one- and two-bedroom apartments. The apartment community is currently 91 percent leased for the 2011-2012 academic year. The seller was undisclosed.

January 5, 2012

Midwest Retail

SAM'S CLUB JOINS KANSAS RETAIL POWER CENTER

by admin January 5, 2012

KANSAS CITY, KAN. — Sam's Club has closed on the purchase of 16.8 acres of land for the new 850,000-square-foot power shopping center at Plaza at the Speedway, located at 1-435 and Parallel Parkway in Kansas City. Sam's Club is expecting to break ground this February and open in the fall. David Block and Becky Goodman of Block & Co. represented the seller, Plaza Speedway LLC. Bob Johnson of RH Johnson represented the buyer.

January 5, 2012

Midwest Multifamily

STAG INDUSTRIAL BUYS THREE INDUSTRIAL PROPERTIES FOR $17.6 MILLION

by admin January 5, 2012

CHIPPEWA FALLS, WIS. —Stag Industrial Inc. has acquired two manufacturing facilities totaling 97,400 square feet in Chippewa Falls, and a 400,000-square-foot warehouse and distribution facility located in Rogers, Ark. for a reported $17.6 million. The buildings in Chippewa Falls are fully leased to Extrusion Dies Industries, with more than nine years remaining on the lease. The company designs and manufactures dies, feedblocks and related equipment.

January 5, 2012

Northeast Office

STAMFORD-BASED DEVELOPER BUYS OFFICE PROPERTY FOR $30 MILLION

by admin January 5, 2012

STAMFORD, CONN. — The former General Reinsurance Corp. headquarters in Stamford, Conn. sold for $30 million in a year-end closing. Stamford-based developer Building and Land Technology purchased the 560,000-square-foot office building, located at 695 E. Main St., from Lehman Brothers Holdings Inc. David Benhaut, Gary Gabriel and Grace Braverman of Cushman & Wakefield's East Rutherford, N.J. office and Tom O' Leary of the firm's Stamford office represented the seller in the transaction.

January 5, 2012

Industrial Northeast

SITEX REALTY ACQUIRES 210,009-SQUARE-FOOT INDUSTRIAL COMPLEX

by admin January 5, 2012

TETERBORO, N.J. — Chicago-based Sitex Realty Group has acquired 125 and 200 Central Ave., a 210,009-square-foot industrial complex in Teterboro. The facility at 125 Central Ave. includes 104,213-square-foot of space and 200 Central Ave. is a 105,796-square-foot facility. Gary Sauerborn, Jeffrey DeMagistris and Thomas Vetter of NAI Hanson represented the seller, John Landers of the Marschall Warehouse Co. in the transaction. Sitex plans to lease and renovate the space, including a new office build-out.

January 5, 2012

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