more_sales_and_leases

SVN|Parsons Commercial Facilitates $4.4M Sale of Office Building in Littleton, Massachusetts

by Amy Works January 20, 2017

LITTLETON, MASS. — SVN|Parsons Commercial Group|Boston has brokered the sale of a high-tech office building located at 305 Foster St. in Littleton. Foster Street Acquisitions sold the building to 2641-2651 Santa Anna Avenue LLC for $4.4 million. Situated on 10.3 acres, the building offers 80,064 square feet of office space for high-tech and R&D tenants. At the time of sale, the property was more than 80 percent occupied. Marci Alvarado, Jake Parsons and Marilyn Santiago of SVN|Parsons represented the seller in the transaction.

January 20, 2017

Connecticut Industrial Northeast

J. Philip Commercial Brokers $2.3M Sale of Industrial Building in Stamford, Connecticut

by Amy Works January 20, 2017

STAMFORD, CONN. — J. Philip Commercial Group Brokerage has arranged the sale of an industrial building located at 184 Selleck St. in Stamford. Dr. Philip Putter of Spot On Veterinary acquired the building from Tom Anderson and John Savage of Hathaway, Reiser & Raymond for $2.3 million. The buyer will use the 16,000-square-foot building for his Spot On Veterinary practice. Fritz Chery of J. Philip Commercial represented the seller and buyer in the deal.

January 20, 2017

Mixed-Use Multifamily Northeast Pennsylvania Retail

Marcus & Millichap Negotiates $2M Sale of Mixed-Use Property in Philadelphia

by Amy Works January 20, 2017

PHILADELPHIA — Marcus & Millichap has brokered the sale of a two-building mixed-use property located at 4343-4345 Main St. in Philadelphia’s Manayunk neighborhood. An undisclosed buyer acquired the property for $2 million, or $231,666 per unit. The asset features eight studio, one- and two-bedroom apartments and one retail unit, which is leased to Chabaa Thai and Binto. Phil Sharrow and Jonathan Massaro of Marcus & Millichap represented the undisclosed seller and secured the buyer. Additionally, Sharrow and Massaro worked with Matthew Rosenberg of Marcus & Millichap Capital Corp. to arrange a 10-year acquisition loan for the buyer.

January 20, 2017

Georgia Multifamily Southeast

StoneBridge Acquires Apartment Community in Metro Atlanta for $31M

by John Nelson January 20, 2017

SANDY SPRINGS, GA. — Washington, D.C.-based StoneBridge Investments has acquired 550 Abernathy Apartments, a 228-unit multifamily property located at 550 Abernathy Road N.E. in Sandy Springs, a suburb of Atlanta in Fulton County. StoneBridge purchased the property from an entity controlled by Harbor Group for $31 million. 550 Abernathy is located within Atlanta’s Central Perimeter submarket, which features three major hospitals situated on “Pill Hill,” the 1.5 million-square-foot Perimeter Mall and more than 31 million square feet of office space, including the new East Coast hub for State Farm and the new headquarters for Mercedes-Benz USA, set to open in 2018. StoneBridge plans to upgrade the community’s interiors with granite countertops, more open floor plans and hard-surface flooring. The firm will also add to the property’s newly renovated clubhouse and pool with outdoor additions including poolside cabanas, a fire pit and an outdoor kitchen. Other planned upgrades include building exteriors and landscaping. Kevin Geiger of CBRE represented the seller in the transaction. ZRS Management, an affiliate of StoneBridge, will manage 550 Abernathy.

January 20, 2017

Industrial North Carolina Southeast

Reger Holdings Acquires 222,596 SF Industrial Property in Charlotte

by John Nelson January 20, 2017

CHARLOTTE, N.C. — Reger Holdings has purchased a 222,596-square-foot industrial building located at 1000 Exchange St. in Charlotte. The western New York-based investment firm plans to convert the freezer/cooler building into a dry warehouse property. The building is rail-served by CSX and features outdoor storage capabilities. Rob Speir and Don Moss of Colliers International’s Charlotte office brokered the transaction and will be retained as the property’s leasing agents. Reger Holdings owns more than 4 million square feet of industrial real estate space in the Carolinas. The sale price and seller were not released.

January 20, 2017

Florida Retail Southeast

The Shopping Center Group, Avison Young Broker $12.6M Sale of Publix-Anchored Center

by John Nelson January 20, 2017

NORTH PALM BEACH, FLA. — The Shopping Center Group and Avison Young have teamed up to broker the $12.6 million sale of Northlake Promenade Shops, a nearly 83,000-square-foot shopping center located at the southwest corner of Northlake Boulevard and Federal Highway in North Palm Beach. Situated on 21 acres, the Publix-anchored shopping center includes outparcels occupied by CVS/pharmacy, Chase Bank and BP Gas. The property also features land available for development. Woolbright Development purchased Northlake Promenade Shops from a private investment firm based in Canada. Anthony Blanco of The Shopping Center Group and David Duckworth and A.J. Belt III of Avison Young represented the seller in the transaction.

January 20, 2017

Retail Texas

Vitorino Group Facilitates Sale of Two Retail Properties in Frisco

by Amy Works January 20, 2017

FRISCO, TEXAS — The Vitorino Group has arranged the sale of two retail properties in Frisco. A New York-based fund acquired the properties for undisclosed price as part of a 1031 exchange. The 3,001-square-foot and 2,960-square-foot properties are absolute net-leased to 7-Eleven with four years remaining on both 18-year leases. The Vitorino Group represented the undisclosed seller in the deal.

January 20, 2017

Industrial Texas

Lee & Associates Negotiates Sale of 26,908 SF Industrial Property in Dallas

by Amy Works January 20, 2017

DALLAS — Lee & Associates has arranged the sale of an industrial property located at 11529 Emerald St. in Dallas. StoneDome sold the 26,908-square-foot property to LeeRoy Jordan Lumber, a wholesale supplier of lumber and lumber supplies, for an undisclosed price. Nathan Denton of Lee & Associates represented the seller, while Michael Haggar and Alan Wood of JLL represented the buyer in the deal.

January 20, 2017

Illinois Midwest Office

CATI Expands Lease to 14,000 SF at Headquarters in Buffalo Grove, Illinois

by Kristin Harlow January 20, 2017

BUFFALO GROVE, ILL. — Computer Aided Technology LLC (CATI) has renewed and expanded its lease to 14,000 square feet at the company’s headquarters in Buffalo Grove. This is CATI’s third expansion in the complex located at 165 N. Arlington Heights Road. The product development company previously occupied 9,040 square feet. CATI expects to begin occupying the additional space in May. Jake Ehrenberg and Scott Brandwein of CBRE represented the tenant. Mike Rolfs of Hamilton Partners represented the undisclosed owner.

January 20, 2017

Industrial Texas

Colliers Closes Sale of 227,230 SF Industrial Building in Metro Dallas

by Amy Works January 19, 2017

WILMER, TEXAS — Colliers International has arranged the sale of an industrial property located at 930 E. Pleasant Run Road within Sunridge Business Park in Wilmer, a southern suburb of Dallas. Makita U.S.A. Inc. acquired the 227,230-square-foot property for an undisclosed price and plans to use it for a regional distribution center. Chris Teesdale, Tom Pearson and El Segundo of Colliers represented the seller, Scannell Properties, and the buyer in the deal.

January 19, 2017

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