more_sales_and_leases

Bussel Realty Negotiates $9.1M Sale of 82,000 SF Industrial Facility in New Jersey

by Amy Works July 28, 2016

LINDEN, N.J. — Bussel Realty Corp. has negotiated the sale of an industrial facility located at 2401 E. Linden Ave. in Linden. Penwood Real Estate Management acquired the property from 265 Pennsylvania Realty for $9.1 million. The 82,000-square-foot facility features 5,000 square feet of office space, 21-foot clear heights and 10 loading docks, as well as a new paved parking lot, doors and HVAC. Three tenants in the food and pharmaceutical sectors, including Ultimate Foods, occupy the fully stabilized, net-leased building. Jordan Metz of Bussell Realty represented the buyer and seller in the transaction.

July 28, 2016

Mixed-Use Multifamily New York Northeast Retail

Alpha Realty Brokers $3.7M Sale of Mixed-Use Building in Brooklyn

by Amy Works July 28, 2016

NEW YORK CITY — Alpha Realty has arranged the sale of a mixed-use building located at 243 Troy Ave. in the Crown Heights section of Brooklyn. Witnick Real Estate Group acquired the building from Up Realty LLC for $3.7 million, or $370 per square foot. The 10,135-square-foot building features 12 apartments and five retail stores. Lev Mavashev and Jacob Aronov of Alpha Realty brokered the off-market transaction.

July 28, 2016

Hidden-Grove-12404-Park-Central-Dallas-studio-movie-grill

Office Texas

Studio Movie Grill Relocates Corporate Headquarters in Dallas

by Haisten Willis July 28, 2016

DALLAS — JLL has negotiated a new 20,200-square-foot lease with movie theater company Studio Movie Grill. The Dallas-based company will be relocating its corporate headquarters to Hidden Grove at 12404 Park Central Drive. JLL’s Jeff Eckert, James Esquivel and Ahnie Gampper negotiated the lease on behalf of the landlord, Red River Asset Management. John Beach with Jackson & Cooksey represented the tenant. Established in 2000, Studio Movie Grill has grown to 24 theatres in 10 states. The company is known for combining a full-service dining experience with first-run movie screenings.

July 28, 2016

Multifamily Texas

M&M Arranges Sale of 74-Unit Apartment Building in Metro Dallas

by Haisten Willis July 28, 2016

HURST, TEXAS — Marcus & Millichap has arranged the sale of Cavender Manor Townhomes, a 74-unit apartment property located in Hurst. Nick Fluellen, Bard Hoover and Evan Burke of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a limited liability company. Hoover and Burke procured the buyer, an individual/personal trust. Cavender Manor Townhomes is located at 1233 Cavender Drive. Built in 1965, the property includes one-, two- and three-bedroom units averaging 857 square feet. Since 2014, more than $210,000 has been spent on capital improvements throughout the property.

July 28, 2016

Industrial Texas

Stream Realty Partners Negotiates 25,841 SF Distribution Center Lease in San Antonio

by Haisten Willis July 28, 2016

SAN ANTONIO — Stream Realty Partners has secured a 25,841-square-foot lease at Crosswinds Distribution Center – Building C for Copenhagen Imports, a furniture importer. The property is located at 11827 Tech Com Road in San Antonio. Kevin Cosgrove and Payton Rion of Stream Realty Partners Central Texas represented the landlord, DRA Advisors, in the lease transaction. Crosswinds Distribution Center consists of two industrial buildings totaling 142,403 square feet. The property is located at the intersection of Wurzbach Parkway and Tech Com Road in northeast San Antonio. The industrial space features 160-foot building depths, storefronts, 24-foot clear heights and a rear-load concrete truck court.

July 28, 2016

Industrial Texas

NAI Partners Brokers 30,000 SF Industrial Lease in Houston

by Haisten Willis July 28, 2016

HOUSTON — NAI Partners has arranged the lease of a 30,000-square-foot distribution facility located at 14039 S. Gessner Road in Houston. Darren O’Conor and Jake Wilkinson of NAI Partners represented the landlord, Roadrunner Ltd., during the lease negotiations with the tenant, Valve Index Inc., a seller of valve products.

July 28, 2016

North Carolina Retail Southeast

TradeMark Arranges 55,000 SF Lease with Harris Teeter at Seaboard Station in Downtown Raleigh

by John Nelson July 28, 2016

RALEIGH, N.C. — TradeMark Properties has arranged a 55,000-square-foot lease transaction with Harris Teeter at Seaboard Station, a 92,000-square-foot shopping center that anchors the north end of downtown Raleigh. The shopping center is located adjacent to William Peace University off Peace and Halifax streets. Seaboard Station has been fully occupied since its sale in 2013. TradeMark Properties, the management and leasing agent for Seaboard Station, has partnered with Lowe Enterprises to develop expansion and development concepts for the project to allow for more retail space and the possibility of apartment residences and/or lodging. Built in the 1940s, Seaboard Station was originally a train depot and warehouse complex.

July 28, 2016

Georgia Retail Southeast

Ten-X, Hale Retail Group Arrange $17M Sale of Grocery-Anchored Shopping Center in Metro Atlanta

by John Nelson July 28, 2016

DULUTH, GA. — Ten-X, formerly Auction.com, has teamed up with Hale Retail Group to market and sale Gwinnett Prado Shopping Center, a 361,715-square-foot, supermarket-anchored shopping center in Duluth. A subsidiary of Insignia LLC purchased the asset for $17 million using the Ten-X Commercial platform. Built in 1988, the shopping center is situated on 32 acres at 2250 and 2300 Pleasant Hill Road in metro Atlanta’s Gwinnett County. Gwinnett Prado is anchored by a 102,000-square-foot Great Wall supermarket. Other tenants include Office Max and T-Mobile. Philip Kates, Adam Sklaver and Dean Lewis of Ten-X, along with Sam Hale of Hale Retail Group, marketed and sold the shopping center on behalf of the seller, an individual investor. Gwinnett Prado marks the third-largest transaction on the Ten-X platform since its launch in 2009 as Auction.com.

July 28, 2016

Industrial Life Sciences New Jersey Northeast Office

QuVa Pharma to Acquire 160,000 SF Biotech Facility in New Jersey

by Amy Works July 27, 2016

NEW JERSEY — QuVa Pharma Inc. has signed an agreement to acquire an FDA-approved biotech pharmaceutical facility near Route 78 in western New Jersey. The 160,000-square-foot facility will enable QuVa Pharma to significantly extend its production capability and capacity to deliver high-quality, ready-to-use compounded sterile drug preparations to hospitals in key markets in the eastern half of the United States. QuVa currently operates two 503B-registered manufacturing facilities in Texas. Terms of the sale, including the name of the seller and acquisition price, were not released.

July 27, 2016

Connecticut Hospitality Northeast

O,R&L Commercial Arranges $1.2M Sale of 165-Room Hotel in Connecticut

by Amy Works July 27, 2016

WINDSOR LOCKS, CONN. — O,R&L Commercial has arranged the sale of a bank-owned hotel and conference center located at 383 S. Center St. in Windsor Locks. Praas WL LLC acquired the 112,420-square-foot, 165-room hotel from MCC Bradley LLC for $1.2 million. The sale included ongoing business, liquor license and all equipment. Jay Morris and Carol Kennedy of O,R&L Commercial represented the seller and buyer in the transaction.

July 27, 2016

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