TOTOWA, N.J. — Sitex Group has acquired two warehouse/distribution centers located at 8 Vreeland Ave. and 50 Furler St. in Totowa from an unnamed private seller. The purchase price was not disclosed. Sitex plans to make 8 Vreeland available for occupancy next year. The property features 24- to 28-foot clear heights and a partially air-conditioned warehouse. The 125,000-square-foot property also includes 12,000 square feet of office space and 10 loading docks. Currently leased to Custom Index Inc., Sitex plans to renovate the property when the tenant leaves next year. At 55,000 square feet, 50 Furler St. features 16-foot clear heights, three loading docks and 3,000 square feet of office pace. It is leased to SK Custom Creations. Both properties are located near I-80 and Route 46. JLL’s Howard Weinberg arranged the transaction. Sitex has retained him to market 8 Vreeland Ave. for lease.
HOPKINTON, MASS. — SVN | Parsons Commercial Group | Boston, in partnership with AIS Development, has brokered two office leases totaling 70,000 square feet at 35 Parkwood Dr. in Hopkinton. After acquiring the unoccupied 160,000-square-foot research and development property in November 2016, the partnership has begun a renovation and marketing plan. The building, which formerly served as EMC’s headquarters, has been vacant for more than 10 years. Located in the Elmwood Business Park, the property now boasts two tenants: Illinois Tool Works and PrismHR. Victor Galvani of SVN | Parsons Commercial Group | Boston is handling the leasing at the building.
FAIRFIELD, CONN. — Jon Angel of Angel Commercial has arranged the $1 million acquisition of 107 Ardmore St. in Fairfield. The property consists of an 8,196-square-foot industrial building on .63 acres. Angel represented the buyer, Ardmore LLC, which acquired the property as an investment.
TAMPA, FLA. — Federal Capital Partners has purchased two apartment communities in Tampa totaling 293 units for a combined $21 million. The properties include Poplar Park Terrace, a 165-unit community at 4111 N. Poplar Ave. that will soon be rebranded as The Flats at Seminole Heights, and Fernwood Grove, a 128-unit property located at 4900 N. MacDill Ave. Jason Stanton of Berkadia’s Tampa office represented the undisclosed seller in the transaction.
WAUWATOSA, WIS. — Jimmy John’s has signed a 1,349-square-foot retail lease at State Street Station in Wauwatosa, about seven miles west of Milwaukee. The property is located at 7460 W. State St. Adam Dreier of Mid-America Real Estate-Wisconsin LLC represented the tenant in the lease transaction. Andrew Prater, also of Mid-America, represented the undisclosed landlord.
LOS ANGELES — June Quest One LLC has acquired a 14-unit apartment complex in the Los Angeles submarket of Reseda for $4.4 million. The community is located at 7122 Amigo Ave. The property features high-end finishes and appliances in the units, gated parking, secure entrance and an elevator. It was built in 2013. Robert Stepp and Mark Witksen of Stepp Commercial represented the buyer. The Agency represented the seller, Amigo Properties.
POWAY, CALIF. — Lee & Associates has arranged the $1.4 million sale of a restaurant building located at 12717-12721 Poway Road in Poway. Victor Aquilina and Mario Martinez of Lee & Associates – North San Diego County represented the buyer, Pho Ca Dao, in the transaction. Mickey Roberts of Re/Max Associates represented the seller, Mogavero Giuseppa 1990 Family Trust. The acquisition of the 4,800-square-foot freestanding building is part of an expansion effort into Poway for Pho Ca Dao, which operates a chain of Vietnamese restaurants. Pho Ca Dao plans to renovate the current restaurant building.
DAYTONA BEACH, FLA. — Marcus & Millichap has brokered the $44.3 million sale of a three-property, 736-unit multifamily portfolio in Daytona Beach. The properties include The Barrington, a 288-unit community built in 1974; Sutton Place, a 240-unit complex built in 1975; and Emerald Park, a 208-unit property built in 1985. Michael Donaldson and Nicholas Meoli of Marcus & Millichap’s Tampa office represented the seller, a private investor based in Illinois, in the transaction. The pair also procured the buyer, an investment firm based in Tampa.
WINTER PARK, FLA. — Sterling Organization has signed four retailers to occupy space vacated by Kmart at Center of Winter Park, a 245,000-square-foot power retail center located at the southwest corner of Orlando Avenue and Lee Road in Winter Park, a suburb of Orlando. The retailers, including Marshalls/HomeGoods, Ross Dress for Less, DSW Designer Shoe Warehouse and Five Below, will occupy approximately 95,000 square feet at the redevelopment project. Kmart closed its 91,600-square-foot store in 2014, shortly after Sterling purchased the center through its Sterling Value Add Partners LP fund. Five Below will open a 9,000-square-foot location in a newly constructed store that previously housed the Kmart Garden Center. The other three retailers will be situated within the former Kmart store. In addition to re-tenanting the center, Sterling is underway on an overhaul of the center that includes new lighting, repaved parking lot, updated landscaping, new signage and a new façade. Existing businesses at the center, such as LA Fitness and Michaels, will remain open during construction, which is expected to wrap up in the fourth quarter of this year. Office Depot is also downsizing its store from 33,000 to 19,200 square feet.
WARREN, MICH. — Colliers International has brokered the sale of a 62,900-square-foot industrial facility in Warren, a suburb of Detroit. The sales price was not disclosed. The building is located at 25200-25700 Malvina Ave. A large portion of the building is currently leased to TVI Logistics, a specialty warehousing and distribution company. Gary P. Grochowski, Justin Francek and Bryan Barnas of Colliers represented the undisclosed seller in the transaction.