Madison Partners Negotiates $13.2M Sale of Office Building in Downtown Santa Monica, California

SANTA MONICA, CALIF. — Madison Partners has arranged the sale of a creative office building located at 1522 Second St. in downtown Santa Monica. The Hertz Investment Group sold the property to HQ Creative Office for $13.2 million, or $864 per square foot. The asset consists of two interconnected buildings totaling 15,329 rentable square feet. HQ Creative Office, a subsidiary of The HQ Group, plans to redesign and renovate the property, which was vacant at closing. Bob Safai, Matt Case and …

SRS Real Estate Partners Brokers $5.3M Sale of Starbucks Location in San Bernardino, California

SAN BERNARDINO, CALIF. — SRS Real Estate Partners has arranged the sale of a newly constructed, single-tenant retail property located at the intersection of University Parkway and North State Street in San Bernardino. A local private 1031 exchange buyer purchased the property from an Orange County, Calif.-based real estate investment and development firm for $5.3 million. Built in 2017 on 1.15 acres, Starbucks Coffee occupies the 3,000-square-foot drive-thru property. Michael Walseth of SRS …

Brixton Capital Purchases 103,568 SF Shopping Center in Avondale, Arizona

AVONDALE, ARIZ. — Brixton Capital has purchased Palmilla Center, a grocery-anchored shopping center located at S.E. Dysart and McDowell roads in Avondale, a suburb of Phoenix. Weingarten Realty sold the property for an undisclosed price. Fry's Food & Drug, PetSmart, OfficeMax, Dollar Tree, Ono Hawaiian BBQ and H&R Block occupy the 103,568-square-foot property, which was fully leased at the time of sale. Additionally, the acquisition included the Chase Bank and Arizona Federal Credit …

GSK US Acquires 227,735 SF Distribution Center in Metro Atlanta

TUCKER, GA. — GSK US Properties, a joint venture between Canada-based Cité Industrielle Lasalle and Perceptive Capital, has acquired a 227,735-square-foot distribution center in Tucker. The facility is located at 120 Royal Woods Court, roughly 21 miles northeast of downtown Atlanta. Constructed in 1998, the building features 30-foot clear heights, 45 dock doors and a 160-foot truck court. At the time of sale, the property was fully leased to Lehigh Technologies, a rubber recycling company …

Olympus Property Acquires 315-Unit Apartment Community in South Jordan, Utah

SOUTH JORDAN, UTAH — Olympus Property has acquired the 315-unit Crossing at Daybreak in South Jordan for an undisclosed sum. The community is located at 4950 W. Frogs Leap Drive. Olympus plans to rebrand the asset as Olympus at Daybreak. The Class A community features a mix of one- to three-bedroom units with an average unit size of 1,110 square feet. Community amenities include 25 parks with sport courts, pavilions, ball fields, playground equipment, and community gardens and 30 miles of …

Cushman & Wakefield Arranges $5.1M Sale of Mixed-Use Building in Manhattan

NEW YORK CITY - Cushman & Wakefield has arranged the sale of a mixed-use property located at 217 E. Third St. in Manhattan's East Village neighborhood. An undisclosed buyer acquired the property from the estate of Michael Mendez for $5.1 million. The mixed-use property consists of a vacant turn-key restaurant space on the ground floor and three free-market, floor-through apartments. The property is approximately 4,160 square feet above grade, not including a one-story structure situated at the …

Gebroe-Hammer Negotiates $3.4M Sale of Multifamily Community in Cranford, New Jersey

CRANFORD, N.J. - Gebroe-Hammer has arranged the sale of The Hamlet at Cranford, a multifamily community located at 2-20 McKinley St. in Cranford. An undisclosed buyer purchased the property for $3.4 million. The property features 10 two-bedroom, two-and-a-half bath townhome-style units with hardwood and tile flooring, separate dining rooms, central air conditioning, granite countertops, stainless steel appliances, vaulted ceilings and in-unit washers and dryers. Adam Zweibel and Gehane Triarsi …

Brown Commercial Brokers $7M Sale of Three Industrial Buildings in Suburban Chicago

ELK GROVE VILLAGE AND GILBERTS, ILL. — Brown Commercial Group has brokered the $7 million sale of three industrial buildings in suburban Chicago totaling 136,915 square feet. The properties include 1340-1400 Higgins Road and 1425-1455 Tonne Road in Elk Grove Village, as well as 300-338 Arrowhead Drive in Gilberts. All three buildings are fully leased to multiple tenants. Dan Brown of Brown Commercial brokered the transaction on behalf of the buyer, Gilberts and Groves

Cushman & Wakefield Negotiates 38,000 SF Lease for T.J. Maxx, HomeGoods Near St. Paul, Minnesota

COTTAGE GROVE, MINN. — Cushman & Wakefield has negotiated a 38,000-square-foot lease for a new T.J. Maxx and HomeGoods store at Grove Plaza in Cottage Grove, 10 miles south of St. Paul. The new store is part of an ongoing repositioning of Grove Plaza, which was formerly home to a Home Depot and Rainbow Foods. T.J. Maxx and HomeGoods will sit just east of a 95,700-square-foot Hy-Vee grocery store that opened last year. Completion is slated for this fall. Deb Carlson of Cushman & …

Terreno Realty Acquires Industrial Property in Queens for $25.2M

NEW YORK CITY — Terreno Realty Corp. has purchased an industrial complex, located at the One Bulova Ave. in the Woodside area of Queens. Bulova sold the three-acre corporate campus for $25.2 million. The property features an industrial distribution building that is currently being renovated. Upon completion of the renovation in 2018, the property will feature 83,000 square feet of industrial space, six dock-high and one grade-level loading positions and parking for 168 cars. The property is …

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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