more_sales_and_leases

Cushman & Wakefield Brokers $4.8M Acquisition of Apartment Portfolio in Newark, N.J.

by Haisten Willis May 9, 2017

NEWARK, N.J. — Cushman & Wakefield has brokered the $4.8 million acquisition of a 68-unit apartment portfolio in Newark. Cushman & Wakefield’s Brian Whitmer, Andrew Merin, David Bernhaut, Gary Gabriel, Seth Pollack and Ryan Dowd represented the buyer, a private investor. The portfolio includes two communities located one block from each other on Roseville Avenue. Both properties are three stories tall and were built in the early 1970s. The first, 467-479 Roseville Ave., contains 46 units and totals 37,000 square feet on 0.46 acres. The second, 385-391 Roseville Ave., includes 22 units and totals 17,600 square feet on 0.3 acres.

May 9, 2017

California Multifamily Western

The Bascom Group Buys Harvard Villa Apartments in Torrance for $14M

by Nellie Day May 8, 2017

TORRANCE, CALIF. — The Bascom Group has acquired the 64-unit Harvard Villa Apartments in Torrance for $14 million. The community is located at 20341 Harvard Blvd. Harvard Villa is situated near the Pacific Ocean and the 405, 110, 710 and 105 freeways. The seller is a long-term private owner. Erich Pryor, Eric Snyder and Thomas Sherlock of Talonvest Capital arranged a $11.4 million acquisition loan from TCF National Bank. Hooman Emanuel of Emanuel Real Estate Group represented Bascom in the transaction.

May 8, 2017

Massachusetts Northeast Office

SVN | Parsons Arranges Sale of Office Building in Ashland, Massachusetts

by Haisten Willis May 8, 2017

ASHLAND, MASS. — SVN | Parsons Commercial Group | BOSTON has arranged the sale of a 5,728-square-foot office building at 54-58 Union St. in Ashland. Victor Galvani and Garrett Quinn of SVN | Parsons represented the seller, Euroland Real Estate, and procured the buyer, Martel HVAC Corp. Martel, a heating and cooling solutions company, will move its corporate headquarters from Holliston to the property. Eurobrew Inc., a specialty beer importer, formerly owned and occupied the building. The property consists of office space, basement storage and a parking lot.

May 8, 2017

New Jersey Northeast Retail

M&M Negotiates $4.2M Sale of Retail Property in Bridgewater, New Jersey

by Haisten Willis May 8, 2017

BRIDGEWATER, N.J. — Marcus & Millichap has negotiated the $4.2 million sale of Chimney Rock Plaza, a 14,700-square foot retail property located in Bridgewater. Ben Sgambati, Alan Cafiero and Brent Hyldahl of Marcus & Millichap’s New Jersey office marketed the property on behalf of the seller, a private investor. The team also secured and represented the buyer, another private investor. Chimney Rock Plaza is located at 564-574 Union Ave. The property sits on 1.7 acres near Route 287 submarket.

May 8, 2017

Industrial Texas

Cypressbrook Negotiates 26,185 SF Industrial Lease in North Houston

by Taylor Williams May 8, 2017

HOUSTON — Cypressbrook Co. has negotiated a 26,185-square-foot industrial lease on behalf of Displayco USA Inc., a Houston-based marketing firm, at 3800 Distribution Blvd. in north Houston. Greg Montes of Cypressbrook represented the tenant in the lease negotiations. Allison Bergman and Jim Foreman of Cushman & Wakefield represented the landlord, Morris Realty Associates LLC.

May 8, 2017

Industrial Office Texas

Altaquip Leases 15,000 SF of Office/Warehouse Space in Grand Prairie

by Taylor Williams May 8, 2017

GRAND PRAIRIE, TEXAS — Altaquip LLC, an Ohio-based equipment services provider, has leased 15,000 square feet of office/warehouse space at 923 Avenue N in Grand Prairie. Michael Stanzel and Patrick Embry of NAI Robert Lynn represented the undisclosed landlord in the lease negotiations. Corby Hodgkiss of Mercer & Co. represented Altaquip.

May 8, 2017

Georgia Industrial Southeast

Liberty Property Trust Inks 120,400 SF Industrial Lease in Metro Atlanta

by John Nelson May 8, 2017

BUFORD, GA. — Liberty Property Trust has signed ProCraft Cabinetry, a Nashville, Tenn.-based distributor of kitchen cabinets, to a 120,400-square-foot industrial lease at the REIT’s new 38-acre Liberty Business Center in Buford, a northeastern suburb of Atlanta. ProCraft Cabinetry will move into Building One, located at 3525 Gravel Springs Road, in June. Both of Liberty Business Center’s LEED Silver-certified buildings feature 50- by 54-foot column spacing, 32-foot clear heights, ESFR sprinkler systems and trailer parking. Matt Nelsen of Hughes Commercial Real Estate represented ProCraft Cabinetry, and Price Weaver and Lee Cardwell of Colliers International represented Liberty in the lease transaction.

May 8, 2017

California Retail Western

Capstone Advisors Signs Six Retail Leases at the Presidio in Linda Vista

by Nellie Day May 5, 2017

SAN DIEGO — Capstone Advisors has signed six leases for tenants at The Presidio, a recently renovated and repositioned retail center located in San Diego’s Linda Vista community. The new tenants include Rip Curl, Luv Bridal, Hopsy, Babe Kombucha, West Coast Veterinary Hospital and Sharetea. Located at 5261-5401 Linda Vista Road, The Presidio is located between Napa Street and the University of San Diego. Capstone completed extensive renovations on the property at the end of 2015. Capstone Advisors originally purchased the property in 2014. For the new lease transactions at The Presidio, Aaron Hill and Justin Wessel of Newmark Grubb Knight Frank represented Capstone Advisors. Luv Bridal and Sharetea represented themselves, Jones Lang Lasalle represented Rip Curl, Newmark Grubb Knight Frank represented Hopsy, Kidder Matthews represented Babe Kombucha and Strategic Real Estate Group represented West Coast Veterinary Hospital.

May 5, 2017

Industrial Kentucky Southeast

Kroger Buys 674,500 SF Spec Industrial Building Near Cincinnati for $33.8M

by John Nelson May 5, 2017

INDEPENDENCE, KY. — The Kroger Co. has acquired Park 536, a 674,500-square-foot industrial property located at 251 Mt. Zion Road in Independence, a town in Kentucky roughly 13 miles south of Kroger’s hometown of Cincinnati. Kroger purchased the asset, which was built on a speculative basis, from VanTrust Real Estate for $33.8 million. Built in late 2016, Park 536 is situated on 45 acres and features 36-foot clear heights, 68 docks and 336 parking spaces. John Gartner III and Norm Khoury of Colliers International’s Cincinnati office represented VanTrust in the sale, and Brian Leonard of JLL represented Kroger, which plans to create nearly 100 new jobs at the facility and will move in upon building out the interior to its liking. The grocer will use Park 536 as a “replenishment center” for the company’s distribution centers in the eastern part of the United States.

May 5, 2017

Mixed-Use Southeast Tennessee

PEBB Enterprises Acquires Mixed-Use Center in Memphis for $28M

by John Nelson May 5, 2017

MEMPHIS, TENN. — PEBB Enterprises has acquired Germantown Village Square, a 199,629-square-foot mixed-use development in Memphis. The Boca Raton, Fla.-based investor purchased the asset from Memphis-based Boyle Investment Co. for $28 million. The purchase of Germantown Village is PEBB’s largest acquisition to date by both dollar amount and square footage. Germantown Village Square features nearly 140,000 square feet of retail space leased to tenants such as T.J. Maxx, DSW and Petco, and more than 60,000 square feet of second-floor office space anchored by The West Clinic, a subsidiary of Baptist Memorial Health Services.

May 5, 2017

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