more_sales_and_leases

Lancaster Pollard Negotiates $30.5M Sale of Seniors Housing Community in Central Florida

by John Nelson January 13, 2017

PORT ORANGE, FLA. — Lancaster Pollard has arranged the $30.5 million sale of CountrySide Lakes, a 146-unit independent living and assisted living community in Port Orange, approximately 55 miles northeast of Orlando. Shepherd Health, a Miami-based seniors housing developer and operator, purchased the property from a private ownership group. Natasha Ursuy of Fifth Third Bank originated a $24 million acquisition loan for the buyer through the bank. Built in 1984, CountrySide Lakes offers 26 independent living units and 120 assisted living units. The community currently has a waiting list and has averaged 97 percent occupancy since 2013. Chad Elliott and Gerald Swiacki of Lancaster Pollard represented the seller in the deal.

January 13, 2017

Industrial Office Texas

Colliers Facilitates Sale of 41,170 SF Office, Warehouse Property in Houston

by Amy Works January 13, 2017

HOUSTON — Colliers International has arranged the sale of an office and warehouse building located within Park 10 at 16337 Park Row in Houston. Plano Vistas Ltd. sold the 41,170-square-foot property to 16337 Park Row LLC for an undisclosed price. Marshall Clinkscales of Colliers International represented the seller, while Marc Drumwright of Southwest Realty Advisors represented the buyer in the deal. Tom Hamilton of Alamo Title Co. handled the closing.

January 13, 2017

Industrial Northeast Pennsylvania

Hinerfield Commercial Brokers Sale of 51,000 SF Industrial Building in Scranton, Pennsylvania

by Amy Works January 13, 2017

SCRANTON, PA. — Hinerfield Commercial Real Estate Co. has arranged the sale of an industrial building, located at 1350 Von Storch Ave. in Scranton. 1350 Von Storch Avenue LLC acquired the property for an undisclosed price. Situated on three acres, the building features 50,000 square feet of industrial space and 1,000 square feet of office space. Richard Levy of Hinerfield represented the seller, Von Storch Avenue LLC, while Steve Farrell of Classic Properties represented the buyer in the transaction.

January 13, 2017

Retail Texas

RD Management Acquires 504,153 SF Shops at Tech Ridge in Austin

by Amy Works January 12, 2017

AUSTIN, TEXAS — RD Management has acquired Shops at Tech Ridge, a shopping center located in Austin, for an undisclosed price. Excluding the recently vacated Target store, the 504,153-square-foot property is 96 percent occupied. Since purchasing the property, RD Management has signed a lease with Floor & Décor for 77,958 square feet of space in the former Target store. Ross Dress for Less, PetSmart, Toys “R” Us and Conn’s HomePlus also occupy the center. The buyer plans to renovate the façade of the former Target space and develop two new pad sites at the center. The name of the seller was not released.

January 12, 2017

Office Texas

LandPark Advisors Arranges Acquisition of 143,211 SF Office Building in Stafford, Texas

by Amy Works January 12, 2017

STAFFORD, TEXAS — LandPark Advisors has brokered the acquisition of an office building located at 12603 Southwest Freeway in Stafford. Stone Mountain Properties acquired the 143,211-square-foot building for an undisclosed price. Constructed in 1981 and renovated in 2015, the property is a Class B, six-story building that has received $1.5 million in capital improvements since 2013. Bill McGrath and Peter Wall of LandPark Advisors represented the buyer in the deal. The name of the seller was not released.

January 12, 2017

Multifamily Texas

Marcus & Millichap Negotiates Sale of 49-Unit Apartment Building in Dallas

by Amy Works January 12, 2017

DALLAS — Marcus & Millichap has facilitated the sale of Woodfront Condominiums, an apartment building located at 5411 Columbia Ave. in Dallas. An individual/personal trust sold the property for an undisclosed price. Constructed in 1984, the property features 49 for-rent apartment units in a mix of one- and two-bedroom units. John Barker and Daniel Burton of Marcus & Millichap represented the seller and secured the buyer, a private investor, in the deal.

January 12, 2017

Industrial Loans Mixed-Use New Jersey Northeast Retail

NGKF Capital Markets Sells $24M Loan Portfolio for OceanFirst Bank

by Amy Works January 12, 2017

TOMS RIVER, N.J. — NGKF Capital Markets has arranged the sale of a $24 million loan pool from the OceanFirst Bank loan portfolio. Castlelake/Midwest Capital acquired the loans, which had an average size of $500,000. The loan pool was collateralized by a variety of industrial, retail and mixed-use assets located in nine southern New Jersey countries, including Atlantic and Ocean counties. Steven Schultz, Josh Malka and Tony Georgiev of NGKF Capital Markets represented the seller.

January 12, 2017

Industrial New Jersey Northeast

Cushman & Wakefield Arranges $12M Sale of Industrial Land Site in New Jersey

by Amy Works January 12, 2017

LOGAN TOWNSHIP, N.J. — Cushman & Wakefield has brokered the sale of a 415-acre land site located at 2858 U.S. Route 322 in Logan Township. F. Greek Development purchased the property from Bridgeport Disposal, a corporate affiliate of Clean Harbors Corp., for $12 million. Matthew Marshall, Jeffrey Williams, Timothy Cahill and Rory Murray of Cushman & Wakefield represented the seller. The buyer has in-house representation. The buyer intends to develop a 3 million-square-foot master-planned industrial park on the site. The property is midway between New York City and Washington, D.C., and offers direct access to Interstate 295, U.S. Route 322 and the New Jersey Turnpike.

January 12, 2017

Georgia Retail Southeast

Urbana Holdings Buys Shopping Center Near Former GM Plant in Metro Atlanta for $14.5M

by John Nelson January 12, 2017

DORAVILLE, GA. — Urbana Holdings LLC has purchased Peachtree Pavilion, a 167,488-square-foot shopping center situated adjacent to the new Assembly mixed-use development, which is currently being constructed on the 165-acre site of the former GM assembly plant in Doraville. The sales price and seller were undisclosed, but the Atlanta Business Chronicle reports Crimson Peachtree Road Holdings LLC sold the property to Urbana Holdings for $14.5 million. Peachtree Pavilion is anchored by H Mart, an Asian-themed grocery chain with 59 locations in the United States.

January 12, 2017

Industrial Midwest Minnesota

Meritex Acquires 101,600 SF Industrial Building Near Minneapolis

by Kristin Harlow January 12, 2017

FRIDLEY, MINN. — Meritex has acquired Osborne Commerce Center in Fridley, approximately 10 miles north of Minneapolis. The purchase price was $5.5 million. The 101,600-square-foot industrial building is located at 197 Osborne Road. The Class A property is 100 percent leased. Steve Dorff of Meritex will manage the property. Meritex is a private real estate investment and management company.

January 12, 2017

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