more_sales_and_leases

Marcus & Millichap Brokers $10.4M Sale of Apartment Community in Tampa

by John Nelson August 23, 2016

TAMPA, FLA. — Marcus & Millichap has brokered the $10.4 million sale of The Mirasol, a 58-unit apartment community located at 84 Davis Blvd. in Tampa. The waterfront property is situated within a mile of downtown Tampa and near Channelside Drive and Ybor City. Built in 1925 as a luxury hotel, The Mirasol was converted to apartments in 1962. The Mediterranean Revival-style community features a grand lobby, pointed Venetian archways, ceiling woodwork, Gothic-inspired French doors and windows and original chandeliers. Community amenities include a swimming pool overlook the property’s 15-slip marina, a three-tiered back patio and a covered waterfront pavilion. Frank Carriera, Michael Regan, Michael Donaldson and Nicholas Meoli of Marcus & Millichap’s Tampa office represented the seller and procured the buyer, a local multifamily investor.

August 23, 2016

Georgia Office Southeast

Atlanta Property Group Acquires Two Office Buildings in Metro Atlanta

by John Nelson August 23, 2016

ATLANTA AND DULUTH, GA. — Atlanta Property Group (APG), an Atlanta-based real estate investment firm, has acquired two office buildings in metro Atlanta totaling 151,000 square feet. The sales price was not disclosed. The projects include the 65,000-square-foot 5871 Glenridge Building in Atlanta’s Central Perimeter submarket and the 86,000-square-foot Waterford Centre building located at 5555 Triangle Parkway in Duluth’s Peachtree Corners submarket. Both assets span four stories and were built in 1985. Waterford Centre was 88 percent leased at the time of sale, and 5871 Glenridge was 61 percent leased. David Meline, Stewart Calhoun, Samir Idris and Casey Masters of Cushman & Wakefield represented the single seller in the transaction. These acquisitions bring APG’s total portfolio of owned and third-party assignments to 12 properties spanning over 3.3 million square feet.

August 23, 2016

Industrial Texas

M&M Brokers Sale of Two Self-Storage Properties in Metro Dallas

by Haisten Willis August 23, 2016

SAGINAW and MESQUITE, TEXAS — Marcus & Millichap has arranged the sale of Longhorn Road Self Storage and Samuell Boulevard Self Storage located in Saginaw and Mesquite, respectively. Nicholas Ling, Brandon Karr and Danny Cunningham of Marcus & Millichap’s Austin and Fort Worth offices marketed the property on behalf of the seller, a limited liability company. Ling, Karr and Cunningham also secured the buyer, another limited liability company. Longhorn Road Self Storage is located at 131 Longhorn Road in Saginaw. Built in 1984, the property includes 330 units and features an on-site manager’s residence, garage-style roll-up doors, perimeter fencing and lighting, personalized keypad gated entry and climate-controlled units. Samuell Boulevard Self Storage is located at 3940 Samuell Blvd. in Mesquite. Built in 1984, the property comprises 551 units and features an on-site manager’s residence, garage-style roll-up doors, perimeter fencing and lighting, personalized keypad gated entry and 24-hour video surveillance.

August 23, 2016

Healthcare Midwest Ohio

Cooper Commercial Brokers $2.4M Sale of Medical Office Building Near Cleveland

by Christina Cannon August 23, 2016

CLEVELAND — The Cooper Commercial Investment Group has brokered the sale of a 13,095-square-foot, multi-tenant medical office building near Cleveland. An Ohio-based private investor sold the building to an undisclosed Ohio-based buyer for $2.4 million. Bob Havasi and Dan Cooper of the Cooper Commercial Investment Group represented the seller in the transaction.

August 23, 2016

California Office Western

Bomel Construction Buys Office Building in Irvine for $15M

by Nellie Day August 22, 2016

IRVINE, CALIF. — Bomel Construction has purchased a 41,585-square-foot creative office building in Irvine for $15 million. The building is located at 96 Corporate Park. The three-story, multi-tenant building will become the new headquarters for Bomel Construction, which is currently located in Anaheim. Gary Marquis of Coldwell Banker represented Bomel, which purchased the building as a partial owner/user investment opportunity.

August 22, 2016

California Retail Western

SBH Real Estate Group Sells 15,176 SF Retail Center in Koreatown for $6.7M

by Nellie Day August 22, 2016

LOS ANGELES — SBH Real Estate Group has completed the sale of a retail center located at 3138-3148 W. Pico Blvd. in the Koreatown neighborhood of Los Angeles. Hasty Yadegaran, a local real estate investor, acquired the property for $6.7 million, or $441 per square foot. Dollar Tree and a multi-unit coin laundry operator occupy the 15,176-square-foot property. Dan Hoogesteger and Chris Sands of Sands Investment Group represented the seller in the deal.

August 22, 2016

Industrial New York Northeast Office Retail

Cushman & Wakefield Launches Automotive Specialty Practice Group

by Amy Works August 22, 2016

NEW YORK CITY — Cushman & Wakefield has launched an Automotive Specialty Practice group in response to the recent transformation and growth in the auto industry. Led by Jeffrey Green, the group includes a global, cross-discipline team of real estate and business advisors to auto manufacturers, suppliers, distributors and retailers. Cushman & Wakefield is the first commercial real estate service firm to market a global comprehensive Auto SPG offering. The offering’s mission is to deeply understand and address the distinctive challenges of the automotive sector from labor issues, logistics, infrastructure, technology, credits and incentives to the unique requirements of the real estate itself. Cushman & Wakefield has has relationships with various automotive industry clients around the world, including Toyota, BMW, FCA, Mercedes Benz, Magna International, Hyundai and JLR.

August 22, 2016

Connecticut Industrial Northeast

O,R&L Commercial Brokers 20,000 SF Lease of Industrial Facility in Connecticut

by Amy Works August 22, 2016

BRANFORD, CONN. — O,R&L Commercial has arranged the lease of an industrial building at 16 Commercial St. in Branford. New England Orthotic & Prosthetic Systems plans to consolidate three locations into the 20,000-square-foot building. Tim McMahon of O,R&L Commercial represented the landlord, 16 Commercial Street Associates, while Frank Hird, also of O,R&L Commercial represented the tenant in the deal.

August 22, 2016

Michigan Midwest Multifamily

Commercial Property Advisors Brokers Sale of Three Apartment Communities for $19.7M

by Christina Cannon August 22, 2016

WEST BLOOMFIELD, MICH. — Commercial Property Advisors has brokered the sale of three apartment communities across the Midwest for a total of $19.7 million. The 42-unit Calhoun Shores Apartments in Minneapolis sold for $10.9 million. Located at 3101 E. Calhoun Parkway, the property offers one- and two-bedroom units and features amenities such as a clubhouse, sundeck and on-site laundry facility. Cornerstone Apartments, located in Detroit, sold for $7.7 million and includes 476 one- and two-bedroom units. The property features amenities such as basketball courts, a clubhouse, gated access and a playground. Hampton Square Apartments is located in Allen Park, roughly 13 miles southwest of Detroit. The property has 28 units and sold for $1.1 million. The buyers and sellers in the transactions were undisclosed.

August 22, 2016

Illinois Midwest Restaurant Retail

Golub & Co. Leases Space for Michael Jordan’s Restaurant at Oakbrook 22 in Metro Chicago

by Christina Cannon August 22, 2016

OAKBROOK, ILL. — Golub & Co. has leased 8,500 square feet to Cornerstone Restaurant Group, which plans to open Michael Jordan’s Restaurant by next summer. The restaurant will be located at Oakbrook 22, a 389,000-square-foot office complex located along West 22nd Street in Oakbrook, approximately 20 miles west of Chicago. Golub & Co., along with Alcion Ventures, acquired Oakbrook 22 in 2014 and redeveloped the property, which now boasts 35 companies. The complex was originally built in phases between 1968 and 1980 and is currently 95 percent occupied. Recent renovations include updated office interiors, common areas and the addition of tenant amenities.

August 22, 2016

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