more_sales_and_leases

Cushman & Wakefield Brokers $14.3M Sale of Industrial Facility in Broward County

by John Nelson November 10, 2016

WESTON, FLA. — Cushman & Wakefield has arranged the sale of Weston Commerce Park, a 134,400-square-foot warehouse and distribution building located at 1951 N. Commerce Parkway in Weston. The sales price was undisclosed, but Broward County records show the asset sold for $14.3 million. Mike Davis, Rick Brugge, Michael Lerner and Christopher Metzger of Cushman & Wakefield represented the seller, Founders Properties, in the transaction. The buyer was EastGroup Properties. Situated on an eight-acre parcel, the rear-load Weston Commerce Park features 30-foot clear heights, an ESFR sprinkler system, T5 lighting, 40- by 40-foot column spacing and a 118-foot truck court.

November 10, 2016

Louisiana Seniors Housing Southeast

Blueprint Arranges $11.5M Sale of Seniors Housing Community in Baton Rouge

by John Nelson November 9, 2016

BATON ROUGE, LA. — Blueprint Healthcare Real Estate Advisors has brokered the $11.5 million sale of Oakwood Village, a 77-unit independent living, assisted living and memory care community in Baton Rouge. Blueprint represented the seller, a regional owner-operator divesting its only seniors housing asset. The buyer was a subsidiary of Florida-based specialty insurer Fortegra Financial Corp., an affiliate of Tiptree Financial Inc. New York City-based Care Investment Trust LLC will serve as asset manager of Oakwood Village, and Traditions Senior Management of Clearwater, Fla., will provide management services. Jacob Gehl was the lead Blueprint advisor on the transaction, supported by Michael Segal. Clint Parker and Jeremy Joiner from Brown Gibbons Lang & Co. Real Estate Partners assisted in the transaction.

November 9, 2016

California Office Western

Tishman Speyer Buys Creative Office Campus in LA’s Arts District

by Nellie Day November 9, 2016

LOS ANGELES — Tishman Speyer has purchased a 1.7-acre creative office campus in downtown Los Angeles’ Arts District for an undisclosed sum. The campus is situated along the Los Angeles River at Bay and Sacramento streets. The site features the 38,000-square-foot world headquarters of transportation technology company Hyperloop One. The campus is near the new SoHo House location, just two blocks from Warner Music Group’s new West Coast headquarters at the Ford Factory. The seller was Lion Real Estate Group and the Borman Group.

November 9, 2016

Illinois Midwest Retail

Quantum Real Estate Advisors Brokers $1.8M Sale of Retail Center in Woodstock, Illinois

by Kristin Harlow November 9, 2016

WOODSTOCK, ILL. — Quantum Real Estate Advisors Inc. has brokered the sale of a 13,915-square-foot multi-tenant retail center in Woodstock for $1.8 million. The retail center is located at 11620 Catalpa Lane. The property is 80 percent occupied by national and regional tenants including Great Clips, Benjamin F. Edwards & Co., Anytime Fitness and Lucky Bernie’s. Chad Firsel of Quantum Real Estate Advisors represented the seller, a Chicago-based investment group. A private real estate investor based in the northern suburbs of Chicago was the buyer.

November 9, 2016

Illinois Midwest Office

Bradford Allen Arranges 12,096 SF Office Lease Renewal for Precision Research in Des Plaines, Illinois

by Kristin Harlow November 9, 2016

DES PLAINES, ILL. — Bradford Allen Realty Services has arranged a 12,096-square-foot office lease renewal at 999 E. Touhy Ave. in Des Plaines, a suburb of Chicago. Precision Research, a data collection company, moved into the building in 2004 and will be occupying the space for three more years. 999 East Touhy is a 145,000-square-foot Class B building. Other tenants include Emergency24 and Sterno Group. Joel Berger of Bradford Allen represented Precision Research in renewing the lease. Janet Mrowka of Siete 7 LLC represented 999 East Touhy.

November 9, 2016

Industrial Texas

NAI Partners Arranges Sale of 57,360 SF Manufacturing Facility in Houston

by Amy Works November 9, 2016

HOUSTON — NAI Partners has arranged the sale of a crane-served manufacturing facility located at 8550 Telephone Road in Houston. Metal Works Properties sold the 57,360-square-foot property to Durco Ltd. for an undisclosed price. Chris Caudill of NAI Partners represented the seller, while Barrett Gibson and Jeff Peltier of Colliers International represented the buyer in the deal.

November 9, 2016

Mixed-Use Multifamily New York Northeast Retail

Cushman & Wakefield Negotiates $21M Sale of Mixed-Use Multifamily Asset in Manhattan

by Amy Works November 9, 2016

NEW YORK CITY — Cushman & Wakefield has arranged the sale of a mixed-use multifamily asset located at 59 Thompson Street in Manhattan’s SoHo neighborhood. Veracity Equities acquired the property from Whistlepig Associates for $21.5 million, or approximately $1,315 per square foot. The six-story, 15,918-square-foot building comprises two ground-floor commercial units and 34 residential apartments. Of the residential units, 27 are free market and seven are subject to rent stabilization. Robert Burton and Keegan Mehlhorn of Cushman & Wakefield brokered the all-cash transaction.

November 9, 2016

New Jersey Northeast Office

NAI Mertz Brokers Two Office Leases in Cherry Hill, New Jersey, Totaling 29,050 SF

by Amy Works November 9, 2016

CHERRY HILL, N.J. — NAI Mertz has arranged two office leases at the 102,591-square-foot Two Executive Campus in Cherry Hill totaling 29,050 square feet. In the first deal, Newspaper Media Group signed a lease for 15,127 square feet of space. The company recently acquired Greater Media Newspapers. In the second transaction, an undisclosed tenant leased 12,923 square feet at the building. Rebecca Ting and Julie Kronfeld of NAI Mertz represented the ownership, 1930 NMT Owner LLC, in the transactions.

November 9, 2016

Retail Texas

Marcus & Millichap Brokers Sale of 16,500 SF Retail Property in Little Elm, Texas

by Amy Works November 9, 2016

LITTLE ELM, TEXAS — Marcus & Millichap has arranged the sale of Lake Shore Crossing, a retail property located in Little Elm. A developer sold the 16,500-square-foot property to a private investor for an undisclosed sum. At the time of sale, the property was fully occupied to a variety of tenants on triple-net leases. Bill Jordan of Marcus & Millichap represented the seller and secured the buyer in the deal.

November 9, 2016

Office Retail Texas

ECR Facilitates Four Office, Retail Leases in Austin

by Amy Works November 9, 2016

AUSTIN, TEXAS — Equitable Commercial Realty (ECR) has facilitated four office and retail leases in Austin. In the first transaction, Herbert J. Sims & Co. leased 966 square feet of office space at 815 Brazos. Patrick Ley and Rebecca Zigterman of ECR represented the undisclosed landlord, while Jon Wheless of Aquila Commercial represented the tenant. In the second deal, Timeless Interiors Inc. leased 9,683 of office square feet at 1110 S RR 620. Ley and Haley Smith of ECR represented the undisclosed landlord. In the third transaction, Berserk Games leased 775 square feet of retail space at 800 Brazos from an undisclosed landlord. Jason Steinberg and Matt Levin of ECR represented the landlord, while Steve Gillespie of Texas Office Advisors represented the tenant. In the final deal, Buildfax leased 3,414 square feet of office space at the Heierman Building, located at 115 E. 5th St. Steinberg and Haley Berry Smith of ECR represented the undisclosed landlord, while Gaines Bagby of CBRE represented the tenant.

November 9, 2016

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