NEW YORK CITY — Ariel Property Advisors has closed the the $2.4 million sale of a retail condominium, located on the ground floor of the Douglass Condominium development at 2100 Frederick Douglass Blvd. in Manhattan. Michael Tortorici, Victor Sozio and Shimon Shkury of Ariel Property Advisors represented both parties in the transaction. The sellers were BRP Development Corp. and Goldman Sachs Urban Investment Group, and the buyers were a private investment group.
NEWPORT BEACH, CALIF. — RiverRock Real Estate Group has been selected by Red Mountain Retail Group to manage nearly three million square feet of its retail properties throughout California and Arizona. Stacey Monroe of RiverRock’s Newport Beach, Calif., headquarters will act as Red Mountain’s portfolio manager.
GAINESVILLE, VA. — A 1.07-acre retail property, located at 4995 Wellington Rd. in Gainesville, has been sold for $2.54 million. The property is leased to a 5,753-square-foot Chili's on a long-term, triple-net basis. Rick Fernandez of Reston, Va.-based Calkain Cos. represented the buyer, a private investor, in the transaction.
NEW YORK CITY — NorthMarq Capital has arranged $5.7 million in first mortgage refinancing for the 55,150-square-foot Paradise Theater, located at 2403-2419 Grand Concourse in the Bronx. Craig Bjornsund arranged the 10-year loan for the borrower, The First Paradise Theaters Corp., through NorthMarq's correspondent relationship with Symetra Life Insurance Co.
FORT WORTH — Marcus & Millichap has arranged the sale of a 13,807-square-foot Walgreens, located at 6328 Camp Bowie Blvd. in Fort Worth. Vincent Knipp, Chance Hales and Philip Levy of Marcus & Millichap's Fort Worth office represented the seller, a personal trust, in the transaction. Knipp and Hales also procured the buyer, a partnership.
GAINESVILLE, FLA. — KGNV Sales has purchased a 27,469-square-foot former Mercedes dealership on a 10-acre property, located in Gainesville, from Duval Motorcars of Gainesville for $2 million. Audley Harris, Jerry Kirkpatrick and John Oberg of Gainesville-based Coldwell Banker Commercial M.M. Parrish Realtors represented the seller in the transaction. Cleveland Farnell of Jacksonville, Fla.-based Rogers, Taylor & Co. represented the buyer.
FAYETTEVILLE, N.C. — A 1-acre property, located in Fayetteville, has been sold for $1.31 million. The property contains a 4,000-square-foot building that is currently leased to Dental Works. Jordan Kaufman of Chicago-based Quantum Real Estate Advisors represented the seller, a Pinehurst, N.C.-based private developer, and Chris Hansen of Marcus & Millichap's Palo Alto, Calif., office represented the North Carolina-based private 1031 exchange buyer.
HARLINGEN — Bass Pro Shops Outdoor World has opened a 150,000-square-foot store at Cameron Crossing, a retail development located at U.S. Highway 83 and Ohio in Harlingen. The Harlingen Economic Development Corp. owns the property and leased it to Bass Pro Shops. In addition to the new development, a new street and railroad crossing have been delivered. The railroad crossing is powered by solar panels, making it the first “green” railroad crossing in Texas.
GRANBURY — Marcus & Millichap has arranged the sale of a 13,514-square-foot retail property, located at 3400 East Hwy. 377 in Granbury, which is currently leased to Dollar General and Fastenal. Philip Levy of Marcus & Millichap's Fort Worth office represented the seller, a developer, in the transaction and secured the buyer, a limited liability company.
EL CAJON, CALIF. – The 70-unit Greystone Village, located in the San Diego submarket of El Cajon, has sold to Conrad Prebys for $4.5 million. The property resides at 360 Bradley Street. Apartment Consultants, Inc.’s Dave Savage represented both the buyer and the seller, Raj & Associates VII, in this transaction.
