more_sales_and_leases

NGKF Arranges Three Office Leases in D.C.’s Capitol Riverfront District

by John Nelson May 10, 2017

WASHINGTON, D.C. — Newmark Grubb Knight Frank (NGKF) has arranged three lease deals totaling 26,332 square feet at a 10-story office building located at 1100 New Jersey Ave. S.E. in Washington, D.C.’s Capitol Riverfront district. The new tenants include The African Wildlife Foundation (AWF), law firm Watkinson & Miller and defense and government contractor Assett Inc. AWF has leased 15,024 square feet on the ninth floor, relocating from 1400 16th Street N.W.; Watkinson & Miller leased the remaining 8,630 square feet on the ninth floor, relocating from One Massachusetts Avenue N.W.; and Assett Inc. leased the remaining 2,678 square feet on the seventh floor. Owned by WC Smith, the newly renovated office building overlooks the Potomac River, U.S. Capitol, Canal Park and Nationals Park. WC Smith’s recent renovations at the Class A building include a new fitness center, bicycle storage and a new conference center. Brendan Owen, Rafael Notario and Morgan Monroe of NGKF represented WC Smith in the lease negotiations. Bill Zonghetti and David Hardcastle of NGKF represented AWF, Terry Amling of Lincoln Property Co. represented Watkinson & Miller and Neil Narcisenfeld and Sarah Frick of Ezra Co. represented Assett Inc.

May 10, 2017

Maryland Office Southeast

Marcus & Millichap Negotiates $4.2M Sale of Office Building in Downtown Baltimore

by John Nelson May 10, 2017

BALTIMORE — Marcus & Millichap has arranged the $4.2 million sale of The American Building, an 81,750-square-foot office building located at 231 E. Baltimore St. in downtown Baltimore. Built in 1905, the property served as the The Baltimore American newspaper’s headquarters until 1986. The office building was 51 percent leased at the time of sale to nonprofit organizations, government agencies, law firms and retailers. Robert Filley and Christian Beck of Marcus & Millichap represented the seller in the transaction.

May 10, 2017

Northeast Office Pennsylvania

Keystone Property Group Sells Metro Philadelphia Office Complex for $33.5M

by Haisten Willis May 10, 2017

WAYNE, PA. — A joint venture between Keystone Property Group and Argosy Real Estate Partners has sold Devon Square in Wayne. The two-building, 140,000-square-foot office complex is located at 724-744 W. Lancaster Ave. and sold for $33.5 million. Doug Rodio and Ben Appel of HFF represented the sellers in the transaction. After acquiring the property in 2005, Keystone conducted a capital improvement campaign updating the interiors and exteriors and remodeling common areas. The office buildings are 95 percent occupied with tenants including Merrill Lynch, Penn Liberty Bank, Keller Williams and Main Line Surgery Center. Situated on Route 30, the property is located near I-76, I-476, Route 202 and SEPTA train lines. Across Lancaster Avenue from Devon Square is Devon Village, a Whole Foods-anchored shopping center.

May 10, 2017

Massachusetts Multifamily Northeast

Northeast Private Client Group Brokers $6.4M Sale of Apartments in Chicopee, Mass.

by Haisten Willis May 10, 2017

CHICOPEE, MASS. — Investment sales broker Northeast Private Client Group has brokered the $6.4 million sale of Brook Edge Apartments, an 82-unit apartment property located at 14-64 Simard Drive in Chicopee. Edward Jordan and Bradley Balletto of Northeast Private Client Group represented the seller, Brook Edge LLC, in the transaction. The firm’s Taylor Perun sourced the buyer, Naviah Investments LLC. Built in 1970, Brook Edge Apartments sits on 2.8 acres near I-91, I-391 and the Massachusetts Turnpike. The 82-unit property features laundry rooms in each building.

May 10, 2017

Colorado Office Western

Union Investment Acquires Triangle Building in Denver for $154M

by Nellie Day May 9, 2017

DENVER — Union Investment has purchased the Triangle Building, a 21,000-square-foot office building in Denver, for $154 million. The building is situated directly opposite Union Station in the Lower Downtown district. The Triangle Building is 98 percent leased to tenants like media firm Liberty Global, WeWork and software company AutoDesk. The seller was a joint venture between an affiliate of Starwood Capital Group and East West Partners.

May 9, 2017

Georgia Retail Southeast

Branch Properties Acquires 230,000 SF Retail Center in Gainesville, Georgia

by John Nelson May 9, 2017

GAINESVILLE, GA. — Atlanta-based Branch Properties has acquired Village Shoppes at Gainesville, a 230,000-square-foot retail center located at 879 Dawsonville Highway in Gainesville. Branch purchased the Publix-anchored asset from Retail Properties of America for an undisclosed price. Other tenants include Old Navy, Ross Dress for Less, Party City, Marshalls, Shoe Carnival, Starbucks Coffee, Wingstop, The UPS Store, Great Clips and AT&T.

May 9, 2017

Florida Office Southeast

JLL Arranges Office Relocation in Miami’s Brickell District for Banco do Brasil Americas

by John Nelson May 9, 2017

MIAMI — JLL has arranged a 17,000-square-foot lease on behalf of Banco do Brasil Americas, the U.S. branch of the Brasilia, Brazil-based bank, for its new corporate headquarters at 1221 Brickell Ave. in Miami’s Brickell district. The bank has leased the entire 22nd floor for its relocation from One Biscayne Tower in downtown Miami. Gavin Macphail and Randy Carballo of JLL represented Banco do Brasil Americas in the lease negotiations.

May 9, 2017

Multifamily New York Northeast

Eastern Consolidated Negotiates $100M Sale of Property for Condominiums in NYC

by Haisten Willis May 9, 2017

NEW YORK CITY — Eastern Consolidated has negotiated the $100 million sale of a residential development assemblage in the NoMad neighborhood of Manhattan to the Rockefeller Group. The assemblage includes 170,000 square feet across three contiguous buildings at 30-36 E. 29th St. and includes surrounding air rights. The existing buildings will be razed to make room for a ground-up condominium development with just under 100 feet of frontage on East 29th Street. Eastern Consolidated’s Brian Ezratty represented the three sellers: Extell Development, the owner of 30-32 E. 29th St.; W Brothers, the owner of 34 E. 29th St.; and 29th Street Partners LLC, the owner of 36 E. 29th St. Ezratty and Eastern Consolidated’s Ron Solarz procured the buyer, the Rockefeller Group.

May 9, 2017

Industrial New Jersey Northeast

Stro Cos. Acquires Five Industrial Properties in New Jersey for $14.7M

by Haisten Willis May 9, 2017

UNION, MOONACHIE AND FAIRFIELD, N.J. — The Stro Cos. has acquired five industrial buildings totaling 210,000 square feet in New Jersey for $14.7 million. The properties were purchased in separate transactions from different sellers including: 1110 Springfield Road, 50 Milltown Road and 60 Milltown Road in Union. The three-building, 128,000-square-foot industrial park is located near Route 22, I-78, The Garden Parkway and Newark Liberty Airport. The park is 98 percent occupied and features industrial units ranging from 10,000 to 30,000 square feet. Stro acquired the property for $7 million. Millington Bank financed the acquisition. 111 Moonachie Ave. in Moonachie. The 52,000-square-foot industrial building features seven units. Located in the Meadowlands, the property is directly across the street from Teterboro Airport. The property was acquired for $5.3 million with one 7,000-square-foot vacancy. Malvern Bank financed the acquisition. 18 Industrial Road in Fairfield. The multi-tenant industrial building spans 30,000 square feet. Stro plans to install upgrades to the exterior of the property, which is accessible from Route 46 and I-80. Bank of New Jersey financed the $2.4 million acquisition.

May 9, 2017

New Jersey Northeast Retail

Azarian Group Purchases Livingston Town Center in New Jersey for $21.3M

by Haisten Willis May 9, 2017

LIVINGSTON, N.J. — The Azarian Group has acquired Livingston Town Center in Livingston from an affiliate of Onyx Equities for $21.3 million. Livingston Town Center is located at the intersection of East Mount Pleasant Avenue and North Livingston Avenue and includes 65,000 square feet of retail space. Tenants include Destination Maternity, 7-Eleven, Anthony’s Coal Fired Pizza, Wells Fargo, Fit 36, Restore Cold Press Juices, X-Tend Barre and 19 others. Amenities include fountain and sitting areas, a parking garage and 114 attached townhomes. Livingston Town Center is 94 percent occupied.

May 9, 2017

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