more_sales_and_leases

IPA Brokers $29M Sale of Multifamily Community in Metro Orlando

by John Nelson October 24, 2016

WINTER PARK, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $29 million sale of Calibre Bend Apartments, a 212-unit multifamily community located at 3924 Calibre Bend Lane in Winter Park, a suburb of Orlando. Built in 1987, Calibre Bend features a clubhouse and leasing center, business center, resort-style swimming pool, a lighted tennis court and a car wash station. Units include built-in bookcases, full-size washers and dryers and private balconies or patios. Steve Witten, Frank Carriera, Victor Nolletti and Michael Regan of IPA represented the seller and procured the buyer, which plans to upgrade the property’s interiors.

October 24, 2016

District of Columbia Office Southeast

Trammell Crow Signs Federal Election Commission to 100,000 SF Lease in D.C.

by John Nelson October 24, 2016

WASHINGTON, D.C. — Trammell Crow Co. (TCC) has signed a long-term lease deal with the Federal Election Commission for nearly 100,000 square feet of office space at Sentinel Square II, a 280,000-square-foot office building located at 1050 First St. N.E. in Washington, D.C. The Federal Election Commission will occupy the top four floors of the building in November 2017. TCC owns Sentinel Square II with joint venture partners Cottonwood Partners and a subsidiary of a private real estate fund advised by Crow Holdings Capital-Real Estate. The LEED Silver-certified building is part of a 1.3 million-square-foot office development in Washington’s NoMa district. John Mowery and Eric Roberts of GSA and Jae Lee and Will Ruppe of JLL represented the Federal Election Commission in the lease deal.

October 24, 2016

California Retail Western

Mathnasium Leases 1,400 SF of Retail Space in Sacramento’s Arden Arcade

by Nellie Day October 21, 2016

SACRAMENTO, CALIF. — Mathnasium, a national math learning center, has leased 1,400 square feet at 3333 Arden Way in Sacramento’s Arden Arcade district. Franchisee owner/operator Jeff Pudewell/Y Corp. plans to open a new franchise at the location in early 2017. Tom Conwell of Newmark Cornish & Carey represented the tenant, while Gretchen Tobin and Keith Mellor of ProEquity Real Estate Services, a division of ProEquity Asset Management Corp., represented the landlord, United Growth Capital Management Corp.

October 21, 2016

California Retail Western

Shea Properties, CenterCal Properties Sign First Tenants at the Annex in Oxnard

by Nellie Day October 21, 2016

OXNARD, CALIF. — Shea Properties and CenterCal Properties have signed the first eight tenants for The Annex, a 16,000-square-foot public market-style space located within The Collection at RiverPark in Oxnard. The new tenants include the first brick-and-mortar location of Scratch, Ragamuffin Coffee Roasters, Cherry Hills Market, Sueño Jewelry Studio, Love Pho Café, Wok to Walk, Bottle & Pint and After Ice Cream. Construction of the center is slated to begin this month with the first tenants scheduled to open in spring 2017.

October 21, 2016

Michigan Midwest Retail

Marcus & Millichap Arranges $13.1M Sale of Regional Power Center in Brighton, Michigan

by Amy Works October 21, 2016

BRIGHTON, MICH. — Marcus & Millichap has brokered the sale of The Shoppes at Green Oak, a regional power center located at 6650 Whitmore Lake Road in Brighton. A private investor acquired the property for $13.1 million, or $127 per square foot. Built in 2005 on nearly 11 acres, the 103,231-square-foot center is occupied by Kohl’s, TGI Fridays, Fifth Third Bank, Wendy’s, Olive Garden and Discount Tire. Simon Jonna and Mike James of Marcus & Millichap represented the undisclosed seller, while Ashish Vakhariya, also of Marcus & Millichap, represented the buyer. Steven Chaben is Marcus & Millichap’s broker of record in Michigan for the deal.

October 21, 2016

Midwest Missouri Restaurant Retail

Block & Company Realtors Arranges Sale of Restaurant Pad Site in Raytown, Missouri

by Amy Works October 21, 2016

RAYTOWN, MO. — Block & Company Realtors has brokered the sale of a 1.28-acre pad site located at the southeast corner of 75th Street and Raytown Road in Raytown, a suburb of Kansas City. Freddy’s Frozen Custard and Steakburgers acquired the site for an undisclosed price. The buyer plans to construct a restaurant on the site, with completion scheduled for early 2017. David Block and Phil Peck of Block & Company Realtors negotiated the transaction. The name of the seller was not released.

October 21, 2016

New York Northeast Retail

Rosewood Realty Group Facilitates $12.1M Sale of Four-Building Retail Portfolio in Brooklyn

by Amy Works October 21, 2016

NEW YORK CITY — Rosewood Realty Group has brokered the sale of a four-building retail portfolio in the Homecrest neighborhood of Brooklyn. Embkay by Select LLC sold the contiguous buildings to 325 Realty Inc. for $12.1 million. The 19,300-square-foot portfolio comprises 1805-1811, 1815 and 1817 Avenue U and 2073-2075 E. 18th St. Michael Guttman of Rosewood Realty represented the seller, while Guttman and Jacob Setton, also of Rosewood Realty, represented the buyer in the deal.

October 21, 2016

Loans Multifamily New York Northeast

Eastern Union Funding Arranges $10.3M Acquisition Loan for Six-Building Multifamily Portfolio in Harlem

by Amy Works October 21, 2016

NEW YORK CITY — Eastern Union Funding has arranged a $10.3 million acquisition loan on behalf of ABJ Properties for its $16 million purchase of a multifamily portfolio in Harlem. The six-building portfolio comprises 82 apartments and six retail spaces. The properties are located at 53-55 W. 130th St., 165 W. 122nd St., 56 W. 127th St., 2401 Adam Clayton Powell Jr. Blvd., and 342 and 346 Lenox Ave. Meir Kessner and Ira Zlotowitz of Eastern Union Funding secured the loan, which was provided by Customers Bank.

October 21, 2016

Office Texas

Trusource Labs Signs 32,500 SF Office Lease at Parmer 3.2 in Austin

by Haisten Willis October 21, 2016

AUSTIN, TEXAS — Karlin Real Estate has signed Trusource Labs, a technical support services company, to a long-term lease for 32,500 square feet at Parmer 3.2. The 192,500-square-foot, Class A office building is located within Parmer, a 300-acre technology and life science park in north-central Austin. The lease at Parmer 3.2 allows Trusource Labs to consolidate 250 employees working from the offices of two of its local clients. The company will continue to maintain its south Austin corporate headquarters. Trusource will occupy the property next February. Mark Emerick and John Barksdale of CBRE’s Austin office represented Karlin in the lease transaction. Jesse Weber of Newmark Grubb Knight Frank’s Austin office represented Trusource.

October 21, 2016

Office Texas

Service First Mortgage to Relocate Headquarters to McKinney Corporate Center I

by Haisten Willis October 21, 2016

McKINNEY, TEXAS —Service First Mortgage, a full-service mortgage lending company, has leased 25,000 square feet of office space in McKinney Corporate Center I, a Class A office building located at 6800 Weiskopf Ave. in McKinney. The deal will relocate the company’s corporate headquarters from Richardson. Cushman & Wakefield’s Craig Wilson, Dan Harris and Randy Cooper arranged the lease. Located within the 2,200-acre Craig Ranch community between the Dallas North Tollway and U.S. Highway 75, the office complex provides access to the cities of Plano, Allen and Frisco. Craig Ranch is also within a 30-minute drive of DFW International Airport and Dallas Love Field.

October 21, 2016

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