NEW YORK CITY — Rosewood Realty Group has arranged the $15.3 million sale of a five-building multifamily portfolio in the Hollis neighborhood of Queens. The portfolio consists of five two-story apartment complexes with 100 apartments and 37 parking spots. The addresses are: 196-03, 196-07 and 196-11 Jamaica Ave. and 91-15 and 91-21 196th St. The portfolio totals 45,000 square feet and the buildings were built in 1950. Black Spruce Management, a Manhattan-based real estate investment/management company, was the seller. A private investor was the buyer. Rosewood’s Aaron Jungreis brokered the deal.
BATH, PA. — Colliers International’s Allentown office has brokered the $1.7 million sale of a 39,064-square-foot industrial building on 6.3 acres located at 7 Allen St. in Bath. The buyer, Wade Property Holding Bath LLC, will use the facility as a furniture shipment location. Kelly Berfield and Ryan Dietrick of Colliers International represented the seller, Penn Bath Properties, in the transaction.
RALEIGH, N.C. — VitalSource Technologies, an education and technology firm, has expanded its footprint at 227 Fayetteville in downtown Raleigh. VitalSource, which moved into the mixed-use office building in 2015, will occupy an additional 11,163 square feet, resulting in a total of 33,151 square feet on three full floors. Other tenants at the office building include RATIO Architects, Cohera Medical, Indy Week and a newly announced, 26,000-square-foot YMCA. The owner of 227 Fayetteville, LRC Properties, recently completed a $14.5 million renovation of the 10-story building. Robin Roseberry Anders of NAI Carolantic represented the landlord in the lease deal.
HOUSTON — The Dupuy Group, a transport and logistics firm, has signed a 212,961-square-foot industrial lease at 3240 South Loop on Houston’s south side. The property features 5,175 square feet of office space, 30-foot clear heights, two drive-in doors and 19 rail doors. David Boyd of Boyd Commercial represented Dupuy in the lease negotiations. Kelly Landwermeyer of Holt Lunsford represented the landlord, CenterPoint Properties. The company has also renewed two leases at its nearby industrial facilities located at 7700 and 7703 Cannon St.
SCOTTSDALE, ARIZ. — SLR and NHR Turnstone LLC have acquired the 64,949-square-foot Turnstone Office Park in Scottsdale for $10 million. The four-building complex is located at 17767 to 17797 N. Perimeter Drive in the Scottsdale North/Airpark submarket. The park is situated within the Perimeter Center. NGKF’s Erik Marsh and Nicole Iglehart represented both the buyer and the seller, Turnstone Office Park LP, in this transaction.
PHOENIX — Scientific Technologies Corp. has leased 26,174 square feet of office space at a warehouse and distribution site that is being converted into an office building. The space is located at 411 S. 1st St. in Phoenix. The site was formerly occupied by Phoenix Packaging Products. The property is being converted to creative office space as part of an adaptive reuse project. Jim Sadler and Darius Green of Keyser represented Scientific Technologies Corp., while CBRE’s Corey Hawley and Jimmy Cornish represented the landlord, 1st Buchanan LLC, in this transaction.
NEW YORK CITY — Jason Maier of Stan Johnson Co. has arranged the $10.8 million sale of a 3,962-square-foot retail property net leased to Bank of America at 6601 18th Ave. in the Bensonhurst neighborhood of Brooklyn. A private buyer utilizing a 1031 tax-deferred exchange purchased the property at a 4.2 percent cap rate. This is the second time Jason Maier and his team have sold this property, having represented the original developer in 2013 when it sold for $8.8 million.
PAINTSVILLE, KY. — Louisville, Ky.- based Dahlem and partner Berkeley Capital Advisors have brokered the $30.3 million sale of Mayo Plaza, a 600,000-square-foot shopping center in Paintsville. The property’s tenant roster includes Lowe’s Home Improvement, Food City, Dollar Tree, Shoe Show and Big Sandy Superstore. Dahlem and Berkeley Capital represented the seller, the Homer & Mary Short Estate, in the transaction.
ATLANTA — Lincoln Property Co. Southeast has executed four lease deals at 309 East Paces, a redevelopment of the former Aaron’s Inc. headquarters office building in Atlanta’s Buckhead district. The new tenants include Chicago-based Industrious, Patterson Real Estate Advisory Group, The Loudermilk Cos. and Atlanta Consulting Group Advisors. Shaun Weinstock of Weinstock Realty & Development LLC represented Industrious in the lease deal. Set to open in June, the property will span 80,000 square feet of office space atop ground-level retail space. The property is currently 60 percent preleased, but Lincoln Property Co. Southeast expects the property will be fully leased upon delivery.
NORWOOD, MASS. — Transwestern Consulting Group (TCG) has brokered the $14 million sale of Norwood Business Center, an office property located at 1400 Providence Highway in Norwood. Calare Properties, a Massachusetts-based real estate investment firm and operator, was the seller. Jumbo Capital Management purchased the three-building portfolio, which totals 155,975 square feet of office, flex and research and development space. TCG’s Chris Skeffington and Roy Sandeman represented the seller and sourced the buyer, while Transwestern’s Andrew Stone assisted Jumbo Capital Management in arranging the financing for the purchase with Middlesex Savings Bank.