DALLAS — Greysteel has negotiated the sale of Geneva Apartments, a portfolio of nine multifamily properties in Dallas. Five of the properties are located on North Ewing Street; three are on North Lancaster Street; one is on North Marsalis Street, totaling 210 units. Boyan Radic, Doug Banerjee, Andrew Mueller and Andrew Hanson of Greysteel represented the unspecified seller. The name and representative of the buyer were not disclosed.
PLANO, TEXAS — Vitorino Group, a Dallas-based real estate investments firm, has closed the sale of a 1.2-acre gas station ground leased to Murphy Oil USA in the Dallas suburb of Plano. Vitorino Group represented the seller, a Texas-based private investor, and procured the buyer, a Colorado-based private investor.
BOERNE, TEXAS — Weitzman, a Dallas-based property management firm, has begun pre-leasing Johns Crossing, a 30,000-square-foot retail development in Boerne, a northwestern suburb of San Antonio. Situated at the corner of IH-10 and Johns Road, the property will feature approximately 14,500 square feet of multitenant space, with the remainder slated for freestanding concepts on pads along the I-10 corridor.
ATLANTA — Reven Housing REIT Inc., a California-based investment firm, has acquired 38 properties in the Atlanta metro area. Most of the properties are three-bedroom, two-bathroom multifamily assets, averaging about 1,439 square feet per unit. Reven Housing (NASDAQ: RVEN) is a publicly traded REIT. The company paid approximately $2.7 million in cash, exclusive of closing costs, for the portfolio
BLOOMFIELD, N.J. — Cushman & Wakefield has brokered the sale of BroadAcres Office Park in Bloomfield. Prism Capital Partners and an institutional partner sold the 380,000-square-foot property to P3RE. The four-building, 20-acre property is located along the Garden State Parkway between exits 151 and 153. Cushman & Wakefield’s Gary Gabriel, Andrew Merin, David Bernhaut and Brian Whitmer were involved in the transaction. Prism will remain the leasing and managing agent for BroadAcres Office Park on behalf of P3RE. The new ownership plans a major capital improvement program including rebranding, signage, resurfaced parking lots, new exterior lighting, building common area renovations and a new gym. BroadAcres is 72 percent leased; tenants include Comcast, Capgemini, Bechtel Corp. and Dewberry Cos. Abe Hirsch, Matthew Texler and Paul Kim of Meridian Capital Group negotiated $24 million in financing for the acquisition of the property.
SOUTHINGTON, CONN. — Tony Valenti and Ralph Calabrese of R. Calabrese Agency have brokered the sale of three acres of vacant commercial property in Southington to AVA Development LLC. The property is located on the West Street (Route 229) corridor near I-84. The new owner will commence construction on a Courtyard by Marriott Hotel, with groundbreaking scheduled for this spring. S&G LLC was the seller and R. Calabrese Agency was the sole broker involved in the transaction.
CHICAGO — Dayton Street Partners has sold its 43,000-square-foot distribution facility at 920 W. Pershing Road in Chicago to a private investor for $4.1 million. Originally acquired in 2015, Dayton Street transformed the manufacturing building into a modern warehouse/distribution facility. Last year, Trane U.S. signed a 25,000-square-foot lease at the property and Stanley Steemer signed an 18,000-square-foot lease.
TIOGA, TEXAS — Younger Partners has arranged the sale of a 200-acre parcel on McKnight Road near U.S. Highway 377 in Tioga, a city about 50 miles south of the Oklahoma border. The site lies across the street from where ground has been broken for the new Tioga High School. Ben McCutchin of Younger Partners represented the seller, Grass Roots Investments of Granbury, and the buyer, a private investor, in the sale-leaseback transaction.
NORTH ATTLEBORO, MASS. — Stubblebine Co./CORFAC International and Atlantic Commercial Real Estate LLC have arranged the sale of 20 Alice Agnew Dr. in North Attleboro for $3.6M. HTI Medical purchased the property, a 44,450-square-foot office/warehouse building. David Stubblebine, James Stubblebine and Rob Stave of Stubblebine Co., represented the seller, Mercury Trading International, and Mark Kearins of Atlantic Commercial Real Estate LLC represented the buyer. 20 Alice Agnew Drive is the former home of Mercury Trading International and is located in the North Attleboro Industrial Park. HTI Medical was established in 1997 as a provider of clinical laboratory and ultrasound equipment.
CARTERET, N.J. — Circle Squared Alternative Investments and the Hampshire Cos. have acquired land for a planned industrial property in Carteret. The property, located at 1500 Blair Road, will be developed into a 156,000-square-foot warehouse/distribution facility. The project will be constructed on a six-acre parcel of land ground leased for a term of 50 years with two renewal options of 20 and 25 years each.
