MT. LAUREL, N.J. — Four Springs Capital Trust has acquired a single-tenant office building located in Mt. Laurel. An undisclosed seller sold the property for $19.4 million. The 87,460-square-foot office building is home to the Southern New Jersey operations of Blue Cross Blue Shield of New Jersey, which serves approximately 3.8 million members. Four Springs Capital Trust’s portfolio now contains 44 properties, which are leased to 22 tenants, in located 20 states.
NEW YORK CITY — GFI Realty Services has arranged the sale of a four-story, walk-up apartment building, located at 2105 Foster Ave. in Brooklyn’s Flatbush section. An undisclosed buyer purchased the property for $6.5 million, or $311,900 per unit. The pre-war building totals 26,640 square feet and features 21 apartment units. Erik Yankelovich of GFI Realty represented the undisclosed seller and buyer in the deal.
HOBOKEN, N.J. — Marsh & McLennan has renewed its long-term lease at Waterfront Corporate Center II in Hoboken. The global professional services firm will occupy 138,000 square feet of office space at the building for the next 15 years. David Falk, Andrew Sachs, Timothy Greiner and Hope Brodsky of Newmark Grubb Knight Frank represented the tenant, while Jeff Schotz and Peter Bronsnick provided in-house representation for the landlord, SJP Properties.
PASADENA, TEXAS — Colliers International represented John Harris Ventures LP in the sale of Fairmont Central Shopping Center, located at 4118 Fairmont Parkway in Pasadena. Marshall Clinkscales of Colliers represented John Harris Ventures. Bill Pyle with Edge Realty Capital Markets and Ray Orazani of Main Realty represented the buyer, Fairmont Central LLC. Bill Barnett with Charter Title Co. handled the closing.
SOUTHLAKE, TEXAS — Bright Realty has brokered the lease for a new Texas Rug Gallery in Southlake. The 6,082-square-foot retail space will be at Cornerstone Plaza on East Southlake Boulevard and Nolan Road. Mason Bakken and Britton Lankford of Bright Realty represented the landlord, BTR-8 Southlake LLC, in the lease transaction.
DALLAS — The Vitorino Group has brokered the sale of an Empire Petroleum gas station and convenience store in Grapevine. The single-tenant, net-leased asset is located on State Highway 121 just north of Dallas/Fort Worth International Airport. The Vitorino Group acted as an intermediary between a local Dallas owner and a private, Dallas-based REIT. Terms of the sale were not disclosed.
SAN CLEMENTE, CALIF. — CareTrust REIT Inc. has acquired two seniors housing communities and two skilled nursing facilities in California’s Central Valley for approximately $34.4 million. The portfolio consists of 79 assisted living units and 293 skilled nursing beds, and is currently leased to affiliates of California-based Covenant Care LLC. The sellers included three related ownership groups. The names and specific locations of the communities were not disclosed. The existing leases have terms that expire in 2019, subject to two five-year extension options, and include CPI-based rent escalators. CareTrust funded the acquisition through its $400 million unsecured revolving credit facility. CareTrust is a publicly traded seniors housing and healthcare REIT based in San Clemente. It owns properties in 20 states.
SAN ANTONIO — Marcus & Millichap has arranged the sale of Flats at Olmos, a 76-unit multifamily property located at 103 Jackson Keller Road in San Antonio. Mike Moffitt of Marcus & Millichap’s Austin office represented the seller and secured the purchaser, a regional private entity that plans to complete light interior and exterior enhancements. Flats at Olmos is located near the Alamo Quarry, Northstar Mall and the Uptown/Tobin Hill entertainment district. The property’s amenities include picnic areas, two pools and a laundry facility.
SAN DIEGO — The ONE Group is opening its San Diego version of STK at Andaz San Diego, located at 600 F St. in downtown San Diego. Occupying the space of the long-shuttered Katsuya, the modern steakhouse/club will feature an updated design and menu options from the brand’s original STK concept. The restaurant will feature a variety of food offerings, ranging from shellfish platters and raw bar dishes to various steaks, and entertainment including nightly DJs.
KENNESAW, GA. — Pope & Land and The Dilweg Cos. have sold Barrett Summit, a 15-acre office park comprising three fully leased office buildings within the Barrett development in Kennesaw, roughly 25 miles north of Atlanta. Pope & Land developed the 182,000-square-foot portfolio in the early 2000s and brought on Dilweg Cos. as a joint venture partner in 2012, marking the company’s first acquisition in the Atlanta area. Justin Parsonnet, Will Yowell and Jay O’Meara of CBRE represented Pope & Land and Dilweg in the sale. Atlanta-based Brookwood Investment Group LLC purchased Barrett Summit for an undisclosed price.