FORT LAUDERDALE, FLA. — Marcus & Millichap has brokered the $11 million sale of Harbour Pointe, a 34-unit luxury apartment building located at 2201 S.E. 18th St. in Fort Lauderdale’s Harbour Inlet neighborhood. Situated south of the 17th Street Causeway, the property features 350 of water frontage with rental boat slips. Marcus & Millichap brokered the sale of Harbour Pointe in 2010 for $8.1 million and again in 2013 for $9.2 million. The property was renovated by a previous owner in 2010. Joseph Thomas, Adam Duncan and Derek Soven of Marcus & Millichap represented the undisclosed seller and procured the buyer, a joint venture between entities based in New York and California.
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MILWAUKEE — Stan Johnson Co. has brokered the $9.3 million sale of a 67,866-square-foot retail building in Milwaukee. Lark Creek purchased the property, which is fully occupied by grocer Pick ‘n Save. Outlook Development sold the property located at 2355 N. 35th St. Camille Renshaw and Scott Scurich of Stan Johnson Co. represented the seller in the transaction.
DALLAS — Marcus & Millichap has arranged the sale of The Trails, a 20-unit apartment property located in Dallas. Stephen Crittenden of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a private investor. Crittenden also procured the buyer, an out-of-state private equity firm. The all-cash transaction closed 20 days after receipt of contract. The Trails is a Class B multifamily asset located at 4335 Cedar Springs Road in the Oak Lawn submarket of Dallas. Originally constructed in 1966 and renovated in 2001, the asset is situated on a 21,600-sqaure-foot lot. The property features upgraded units throughout, stackable washer/dryer connections, a swimming pool and gated entry.
SAN ANTONIO — Stream Realty Partners has secured the sale of a 9,708-square-foot office and warehouse building for Dausin Management Trust located at 8007 NE Loop 410 in San Antonio. Kevin Cosgrove and Payton Rion of Stream Realty Partners – Central Texas LP represented the seller in the transaction. The office and warehouse space is located in northeast San Antonio on Loop 410 near its intersection with Springfield Road. The property offers tenants five grade-level doors, covered parking and a one-acre fenced yard.
FRISCO, TEXAS — Jim Turano and Jim Breitenfeld of Henry S. Miller’s office and industrial division have represented JC Professional Properties in the lease of a space in Frisco. Texas Facial Aesthetics leased 4,230 square feet of first floor space at the property, located at 6371 Preston Road. The company will use the space as its plastic surgery clinic headquarters. Sean Sundby of CBRE represented the tenant in the transaction.
Vanbarton Group Receives $67.5M Acquisition Loan for a 31,210 SF Retail Condo in Manhattan
by Amy Works
NEW YORK CITY — An affiliate of Vanbarton Group has received $67.5 million in acquisition financing for The Astor retail condominium located at 2139-2157 Broadway in Manhattan. Cushman & Wakefield arranged the floating-rate financing, which was provided by an affiliate of Mesa West Capital. The 31,210-square-foot property is at the base of the The Astor, a 12-story luxury residential complex. The condo features 18,902 square feet of ground-floor space and 12,308 square feet of basement-level space. The property is 100 percent leased to nine commercial tenants, including Barneys New York, Lululemon, Stuart Weitzman, Papyrus and L’Occitane. Steve Kohn, Alex Hernandez and Alex Lapidus of Cushman & Wakefield arranged the financing for the borrower.
NEW YORK CITY — Macklowe Properties has partnered with Whole Foods Market to anchor One Wall Street, a residential redevelopment in downtown Manhattan. A three-story 44,000-square-foot Whole Foods Market will anchor the 155,000-square-foot retail portion of the redevelopment. The store is slated to open in late 2018. Designed by Robert A.M. Stern Architects, the retail component will feature 22-foot ceilings. The full renovation of the Ralph Walker-designed Art Deco tower will include a restoration of the iconic three-story Hildreth Meier-designed Red Room into a showroom.
LOWELL, MASS. — Anchor Line Partners and Farallon Capital Management have renewed the lease of its long-term tenant, ARRIS, at CrossPoint in Lowell. The provider of entertainment and communications solutions has signed a 10-year lease renewal for 143,594 square feet of space in Tower 3 at CrossPoint. The new term will expire in 2026. Farrallon Capital Management and Anchor Line Partners have invested more than $11 million to create a modern workspace at CrossPoint with flexible work environments, easy access and a rich amenity campus.
WAYCROSS, GA. — Avison Young’s Atlanta office has brokered the $6.8 million sale of The Mall at Waycross, a 380,982-square-foot regional mall located on Memorial Drive in Waycross. Built in 1973, The Mall at Waycross was 90.6 percent leased at the time of sale to tenants including JC Penney, Belk, T.J. Maxx, Hibbett Sports, Staples and Georgia Theatre Co. The single-story regional mall is the only anchored shopping mall within a 50-mile radius of Waycross. The shopping center is located on a 37-acre parcel situated between Brunswick and Jacksonville highways near downtown Waycross. Theresa Johnson of Avison Young represented the seller, Torchlight Investors, in the transaction. The buyer was RCG Ventures.
MURRIETA, CALIF. — Regency Centers and Target Corp. have completed the disposition of The Murrieta Marketplace, a 49.2-acre land parcel located at the northwest corner of Clinton Keith and Winchester roads in Murrieta. The two-parcel site includes a 38.2-acre site and a 11-acre site, owned by Regency and Target, respectively. Murrieta Marketplace Holdings acquired the parcels for an undisclosed price. The buyer plans to develop a 500,000-square-foot retail center on the site. Brian Bielatowicz of Lee & Associates represented the buyer in the deal. Regency Center and Target Corp. represented themselves in the transaction.