NEW YORK CITY — RKF has brokered the sale of a retail property, located at 197-205 Smith St. in Brooklyn’s Cobble Hill neighborhood. The 20,000-square-foot property sold for $18.5 million. The property offers 10,000 square feet on the ground floor and a 10,000-square-foot basement. Included in the sale are air rights for 10,000 buildable square feet that allows for future expansion. Brian Segall and Ernie Getz of RKF represented the seller, John Dee Corp., and the buyer, a partnership between Jackson Group, Aurora Capital and ACHS Management, in the transaction.
STOCKBRIDGE, GA. — Phillips Edison Grocery Center REIT II Inc. has purchased Spivey Junction, an 81,475-square-foot grocery-anchored shopping center in Stockbridge, a southern suburb of Atlanta, for approximately $11.7 million. The property’s tenant roster includes Kroger, Kroger Fuel Center, Great Clips, Workout Anytime, Domino’s Pizza, Subway, Goodwill and Miracle Ear. The seller was MK EP Spivey LLC, a Delaware-based limited liability company. As of Dec. 9, Phillps Edison Grocery Center REIT II owned and managed 17 grocery-anchored shopping centers totaling 1.9 million square feet.
MARIETTA, GA. — The Cooper Commercial Investment Group has brokered the $8.5 million sale of the Village at Old Trace shopping center, a 40,985-square-foot retail property in Marietta, a northern suburb of Atlanta. The property was built in 2006 and was 93 percent leased at the time of sale. Dan Cooper of Cooper Commercial’s Cleveland, Ohio office represented the seller, a private investment group based in Ohio. The buyer was a local entity.
ST. CHARLES AND INDEPENDENCE, MO. — Cassidy Turley has arranged the $53 million sale of a 619,161-square-foot retail portfolio across five states. The seven-property portfolio is 84.7 percent leased to 76 tenants. The portfolio includes Regency Square, a 49,155-square-foot retail center in St. Charles, Mo.; Independence Corners, a 72,956 square foot shopping Center in Independence, Mo.; and five more shopping center properties in Pennsylvania, South Carolina Georgia and Arizona. More than 19 percent of the portfolio is occupied by grocery stores, and other tenants include Rite Aid, Tractor Supply and Stein Mart. Cassidy Turley represented the seller, PDSI. TriGate Capital purchased the portfolio.
PORT HURON, MICH. — Mid-America Real Estate Corp. has brokered the $5.5 million sale of Stadium Center in Port Huron. The 92,365-square-foot shopping center is located at 24th Street between Griswold Street and Lapeer Avenue. Kroger anchors the shopping center. Toronto-based Slate Retail REIT purchased the property. Ben Wineman of Mid-America Real Estate Corp. in cooperation with Daniel Stern of Mid-America Real Estate – Michigan, Inc. represented the seller, Cincinnati-based Phillips Edison.
NEW YORK CITY — Marcus & Millichap has brokered the sale of an Upper West Side portfolio, a six-building mixed-use portfolio located in Manhattan’s Upper West Side. The portfolio features 152 multifamily units, 7,900 square feet of retail space and 62,655 square feet of air rights for future development. A private investor acquired the portfolio for $80.75 million, or approximately $515,000 per unit. The properties are 500 Cathedral Parkway, 3143 Broadway, 3147 Broadway, 3149 Broadway, 111 West 104th St. and 242 West 109th St. This is the first time the properties have changed hands in 30 years. Marco Lala of Marcus & Millichap’s Manhattan office represented the seller and buyer, both private investors, in the transaction.
WINTER PARK, FLA. — Crossman & Co. has brokered the $24.8 million sale of Hollieanna and Oakley Center, a Publix-anchored shopping center in Winter Park, a suburb of Orlando. The 102,000-square-foot center was 98 percent leased at the time of sale to tenants such as Tuesday Morning, AAA, Moe’s Southwest Grill, T-Mobile and Sherwin Williams. Mark Thompson and Leah Harrington of Crossman & Co. represented the seller, a family in Indiana who had owned the center since its original construction in 1953. The property was redeveloped in 2011.
RANCHO CUCAMONGA, CALIF. – Crunch Fitness & UFC has leased 25,015 square feet of space in Rancho Cucamonga. The space is located at 12739 Foothill Blvd. The lease is valued at $3.2 million. Vicky Espinosa, Fred Encinas and Lidia Talavera of NAI Global represented both Crunch Fitness and the landlord, THM Enterprises LLC, in this transaction.
PASSAIC, N.J. — CBRE Group Inc. has arranged the sale of an office and retail property located at 615-625 Main Ave. in Passaic. The 65,000-square-foot building sold for $8.4 million. The building, which includes a two-story parking garage, underwent a $5 million capital improvements program in 2007. Current tenants include Valley National Bank, which has been in the location for more than 40 years. Charles Berger and Elli Klapper of CBRE Tri-State Investments Properties represented the seller and procured the buyer, a long-time CBRE client, in the deal.
HOUSTON — Marcus & Millichap has arranged the sale of Market Square, a 9,567-square-foot retail property located in Houston. Justin Miller, Jerry Goldstein and Derek Hargrove of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a limited liability company. Market Square is located at 56 FM 1960 Road West in Houston.