NEW YORK CITY — Cushman & Wakefield has brokered the sale of a storage facility located at 305 E. 61st St. in Manhattan’s Upper East Side. An undisclosed buyer acquired the property for $40 million in an all-cash transaction. The 11-story, 65,886-square-foot building, which features 358 individual storage lockers, was vacant at the time of sale. Bob Knakal, Clint Olsen and Jonathan Hageman of Cushman & Wakefield arranged the transaction. The name of the seller was not disclosed.
NEW YORK CITY — Corona Operating Co. has acquired a conversion site located at 37-10 114th St. in the Corona neighborhood of Queens. Meadows Corona LLC sold the site for $37.3 million. The site offers 226,800 buildable square feet and currently houses an eight-story building with 95,040 square feet above ground with additional built out and useable cellar space of 11,880 square feet. Previously, the building operated as a 200-room hotel featuring a pool, exercise facility, multiple event spaces and parking for 86 cars. The building was vacant at the time of sale. Stephen Preuss of Cushman & Wakefield represented the seller in the deal.
ANDOVER, MASS. — Enel Green Power North America (EGP-NA) has leased 66,000 square feet of space at Andover Landing at Brickstone in Andover for its new North American headquarters location. Located at 100 Brickstone Square, the facility features a renovated full-service cafeteria, flexible conference facilities, a coffee/juice bar, fitness center with yoga room, shower and locker facilities, a Bright Horizons Day Care facility, outdoor seating, on-site property management and ample parking. EGP-NA is an operator of more than 100 renewable energy plants in North America, and its parent company, Enel Group, is a multinational power company headquartered in Rome, Italy. Kerry Hawkins, Jason Levendusky and Jake Borden of CBRE/New England represented the landlords, KS Partners and Oaktree Capital, while Brooks Murphy and Brian Morrissey of JLL represented the tenant in the lease.
ARLINGTON, TEXAS — Coldwell Banker Commercial Advisors DFW has brokered the sale of the 31,960-square-foot Offices at Forest Hills property to California-based RAB Properties, which utilized a 1031 tax-deferred exchange to purchase the Class A, two-building project in Arlington. The single-story structures, located at 2001 and 2005 N.E. Green Oaks Blvd., were 93 percent occupied at the time of sale. Joe Hamilton and Theron Bryant of Coldwell Banker Commercial Advisors DFW represented the local seller, WCII-1 LLC. Negotiating for the buyer was Sam Owen of OGH Real Estate LLC, who has assumed leasing and management duties for the property. The Offices at Forest Hills was developed in 2007 on 3.4 acres near TX 360, I-30 and Dallas/Fort Worth International Airport. The buildings, totaling 11,967 square feet and 19,993 square feet, include private balconies for each office and shared conference space. The asset also features a 120-space parking lot with 10 covered spaces. The smaller building is fully leased to Lima USA for its headquarters. The wholly owned subsidiary of Italy-based Lima Corporate S.P.A. manufactures and distributes shoulder, knee and hip products and technology to surgeons. The larger building houses Insala Ltd., Endeavor Wall Homes, the U.S. Fish & Wildlife Commission …
SAN MARCOS, TEXAS — The Vitorino Group has brokered the sale of Guadalupe Station, a Class A, 17,528-square-foot retail property next to Texas State University in San Marcos. The asset was 100 percent occupied at the time of closing. Jared Aubrey and Anthony Pucciarello of the Vitorino Group represented the seller, an Austin-based developer. A California-based investor utilizing a 1031 exchange was the buyer. Tenants at Guadalupe Station include MedSpring Urgent Care, Verts Mediterranean Grill, Jersey Mike’s Subs, Pieology Pizzeria, Sports Clips and Torchy’s Tacos
DULUTH, GA. — NAI Brannen Goddard has brokered the $14 million sale of a three-building, 230,000-square-foot industrial complex situated within Northmont Business Center in Duluth, a northeastern suburb of Atlanta in Gwinnett County. Situated on 28 acres along Satellite Boulevard, the single-story complex offers both warehouse and office space and features 24-foot clear heights, 120-foot truck courts and ample parking. Exeter Property Group purchased the complex from the undisclosed seller. Jack Haden, Mike Chambers and Bradley Pope of NAI Brannen Goddard represented the seller in the transaction. Exeter Property Group has retained the NAI Brannen Goddard team to lease the project.
SAN FRANCISCO — Thor Equities has sold the Phelan Building, an 11-story office building in San Francisco, to the Hong Kong-based Hotung family for a reported $375 million. The building is located at 760 Market St. The Phelan Buiding contains 250,000 square feet of office space and 52,000 square feet of retail space. Thor paid $130 million for the asset in 2008. Notable tenants at the property include Credit Karma and Medium. The retail portion includes Starbucks, Orogold Cosmetics, Walgreens, Verizon and Marshalls. The building was originally constructed in 1907.
SAN CARLOS, CALIF. — San Carlos VI LLC has acquired San Carlos Business Park, a 154,462-square-foot office and R&D campus in the Silicon Valley submarket of San Carlos, for $61.1 million. The seven-building campus is located at 963 Industrial Road. The park contains two parcels that include a ground lease for a 27,303-square-foot office building on 1.3 acres and a larger parcel that includes six buildings totaling 127,159 square feet of R&D space on 7.6 acres of land. San Carlos Business Park is situated in the mid-peninsula market with access to Caltrain, major freeways and downtown San Carlos. CBRE’S Bob McSweeney represented the LLC, while the firm’s Seth McKinnon, Scott Prosser, Joe Moriarty, Sean Sullivan and Tyler Myerdirk represented the seller, Black Mountain Properties, in this transaction.
OLATHE, KAN. — Monmouth Real Estate Investment Corp. has acquired a 313,763-square-foot industrial building in Olathe, approximately 25 miles southwest of Kansas City, for $31.7 million. The property, located on 45 acres at 22525 W. 167th St., is net-leased to FedEx. The brand new building is a Class A, built-to-suit distribution facility. The seller in the transaction was undisclosed.
WALLED LAKE, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of a 37,800-square-foot industrial building in Walled Lake, approximately 35 miles northwest of Detroit. Martin Rd Investments LLC sold the asset, located at 850 Ladd Road, to RW Farmington LLC for an undisclosed price. Phil Konopitski, and Mike Koenigbauer of Friedman represented both parties in the transaction.