more_sales_and_leases

Cignature Realty Brokers $16M Sale of a 54-Unit Multifamily Building in Washington Heights

by Amy Works June 24, 2016

NEW YORK CITY — Cignature Realty Associates has arranged the sale of a multifamily building located at 548 W. 164th St. in Washington Heights. Barberry Rose Management Co. acquired the 54-unit property for $16 million, or $283 per square foot. Built in 1910, the 56,634-square-foot property features one studio unit, 24 two-bedroom units, 12 three-bedroom units and 17 four-bedroom units. Lazer Sternell and Peter Vanderpool represented the buyer and the seller, Hillcrest Acquisitions LLC, in the deal.

June 24, 2016

New York Northeast Retail

Brookstone Retains RCS Real Estate Advisors as Outsourced Real Estate Department

by Amy Works June 24, 2016

NEW YORK CITY — The innovative and lifestyle products retailer Brookstone Inc. has retained New York-based RCS Real Estate Advisors to operate as its outsourced real estate department. RCS will work with Brookstone to manage its entire retail real estate portfolio and help the company develop growth strategies for its holiday pop-up stores and outlet locations. RCS will be responsible for all lease negotiations, site selection and implementation of Brookstone’s growth plans.

June 24, 2016

Multifamily Oregon Western

REIT Acquires Breckenridge Apartment Homes in Portland

by Nellie Day June 24, 2016

PORTLAND, ORE. — Resource Real Estate Opportunity REIT II has purchased the 357-unit Breckenridge Apartment Homes in Portland for an undisclosed sum. The community is located at 8150 S.W. Barnes Road. It was built in 1985. The REIT plans to implement a value-add strategy to improve the property’s exterior, common areas and unit interiors.

June 24, 2016

Industrial South Carolina Southeast

Colliers Arranges 202,000 SF Industrial Lease Renewal in South Carolina’s Upstate

by John Nelson June 24, 2016

DUNCAN, S.C. — Colliers International has arranged a 202,000-square-foot lease renewal at Hillside Industrial Park in Duncan. The tenant, Global Automotive Partners, has renewed its space at 15 Tyger River Drive with the landlord, Exeter Property Group. Hillside is situated within the SC-290 industrial submarket, which has a high concentration of Tier 1 automotive suppliers near BMW’s plant. Global Automotive Partners provides consulting, manufacturing, logistics and administration services to clients in the automotive industry. Givens Stewart, Garrett Scott and Brockton Hall of Colliers International represented Global Automotive in the lease deal.

June 24, 2016

Florida Southeast Student Housing

Capstone Real Estate Acquires Two Student Housing Properties Near FSU

by John Nelson June 24, 2016

TALLAHASSEE, FLA. — Capstone Real Estate Investments LLC has acquired two student housing communities located near the Florida State University (FSU) campus in Tallahassee. Acquired assets include High Point Apartments and Colony Club. The High Point Apartments complex is located on Chapel Drive adjacent to Legacy Suites, and consists of 151, one-bedroom units. Capstone will begin renovations on the property this fall, with completion expected for summer 2017. Interior improvements including paint, flooring and fixtures, as well as the addition of in-unit washers and dryers and an updated pool deck will be included in the renovation. Capstone intends to demolish the existing structures at Colony Club in order to place the land up for sale for redevelopment.

June 24, 2016

The-Shops-at-Valley-Square-Warrington-PA

Northeast Pennsylvania Retail

CBRE Brokers Sale of 292,888 SF The Shops at Valley Square in Pennsylvania

by Amy Works June 23, 2016

WARRINGTON, PA. — CBRE has arranged the sale of The Shops at Valley Square, a 292,888-square-foot mixed-use lifestyle center located in Warrington. iStar Financial sold the property to a joint venture between affiliates of Poag Shopping Centers and real estate funds managed by Ares Management for an undisclosed sum. Built in 2007, the property features 203,953 square feet of first-floor retail space and 88,935 square feet of second-floor office space. Tenants at the center include DSW, ULTA, Banana Republic, White House|Black Market, Loft, P.F. Chang’s, Chipotle, Panera, The Melting Pot and Carmel Kitchen & Wine Bar. Brad Nathanson, Chris Decoufle and Kevin Reavey of CBRE represented the seller, while John Farrell of CBRE’s Debt and Structured Finance team arranged acquisition financing for the buyer.

June 23, 2016

Industrial New Jersey Northeast

NAI Mertz Negotiates Sale of 43,750 SF Industrial Building in New Jersey

by Amy Works June 23, 2016

VINELAND, N.J. — NAI Mertz has arranged the sale of an industrial building located at 301 N. Fourth St. in Vineland. Plastic Express Inc. acquired the 43,750-square-foot property from The Welfront Group for an undisclosed sum. The property features both industrial and office space, a 29,000-square-foot fenced-in and paved yard area, 18-foot clear ceiling heights, six tailgate doors and one drive-in door. Roy Kardon and John Brown of NAI Mertz represented the seller and the buyer in the deal.

June 23, 2016

Restaurant Retail Texas

Henry S. Miller Purchases Shopping Center in Metro Dallas

by Haisten Willis June 23, 2016

NORTH RICHLAND HILLS, TEXAS — HSM Crossing LLC, an affiliate of Henry S. Miller Cos., has purchased The Crossing, a Kohl’s-anchored shopping center located at the northwest corner of Grapevine Highway and Precinct Line in North Richland Hills. The 188,000-square-foot retail center sits on 20 acres and was 89 percent leased at the time of sale to tenants including McAlister’s Deli, Unleashed by Petco, Red Hot & Blue and First Choice ER. HSM secured a five-year, non-recourse loan with L Star Capital Finance Inc. to fund the acquisition. Darrell Hurmis of Henry S. Miller represented HSM on the purchase.

June 23, 2016

Industrial Texas

JLL Negotiates Sale of Texas Self Storage in Houston

by Haisten Willis June 23, 2016

HOUSTON — JLL has completed the sale of Texas Self Storage located at 8909 Hinman St. in Houston. Westport Properties Inc. purchased the property. Steve Mellon and Brian Somoza of JLL represented the seller, Airport Boulevard Partners LP, in the transaction. Comprising four single-story and two two-story buildings, the facility spans 44,600 square feet. The property consists of 30 climate-controlled units, 453 non-climate controlled units and 35 covered parking units. Facility features include a secured gate with electronic access control, surveillance cameras and a customer service office. The property was built in 1975 and renovated in 2008.

June 23, 2016

Illinois Industrial Midwest

Molto Properties Sells Three-Building Industrial Portfolio in Metro Chicago

by Christina Cannon June 23, 2016

ROMEOVILLE AND BOLINGBROOK, ILL. — Molto Properties has sold a three-building industrial portfolio in metro Chicago for an undisclosed price. Lincoln Property Co. is the buyer. The properties consist of a 189,662-square-foot building at 1485 Normantown Road in Romeoville; a 116,000-square-foot building at 1055 Remington Veterans Blvd. in Bolingbrook; and a 45,000-square-foot building at 49 N. Paragon Road in Romeoville. Both 1485 Normantown and 1055 Remington were developed by Molto Properties in 2014 and 2015, respectively, and are operating at 100 percent occupancy. Jeff Devine and Steve Disse of Colliers International represented Molto in the transaction.

June 23, 2016

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