LOS ANGELES — Micropolitan has purchased a half-acre site in Los Angeles for $11.1 million. The plot will house the new SixThirtyNine apartment project located at 639-645 N. Fairfax Ave. in the city’s Fairfax Village District. HFF’s Blake Rogers represented the seller, Ness Holdings, in this transaction.
SUNNYVALE, CALIF. — GI Partners has acquired a 75,000-square-foot data center in Sunnyvale for an undisclosed sum. The facility is located at 825 Stewart Drive. The acquisition was made through DataCore, a $500 million real estate fund GI Partners manages on behalf of the California State Teachers’ Retirement System (CalSTRS). The Class A office and R&D property was developed in 1968. It was repositioned in 2002 and 2015. The property is fully leased to a prominent technology company.
TEMECULA, CALIF. — The University of Redlands has signed a 66-month lease for 9,561 square feet of office space at Garrett Corporate Center in Temecula. The Class A building is located at 1 Betterworld Circle. The university will open its new space on July 1. Corey Martin and Matt Shaw of Legacy Properties Group represented the landlord.
HOUSTON — Hartman Retail II, a Delaware Statutory Trust, has purchased Mission Bend Shopping Center in Houston for $15.1 million. The property is located at 6806 Highway 6. Mission Bend Shopping Center is a 140,576-square-foot retail center on 11 acres. It was built in 1984 and is 98 percent leased to tenants including dd’s Discounts, Melrose Family Fashions, Dollar General and Harbor Freight. George Cushing and Wendy Vandeventer of JLL represented the seller in the transaction. Dave Wheeler, Julian Kwok and Russell Turman internally represented the buyer, Hartman Retail II DST.
HOUSTON — Elandis, the real estate ownership, development and property management arm of the Libra Group, has acquired 1,000 units in four separate multifamily communities in Houston. The combined purchases are valued at $50 million and expand the company’s portfolio of owned and managed residential units to 2,500. The four apartment communities, each consisting of one-, two- and three-bedroom units, include Kirkwood Landing on South Kirkwood Road; The Forest on Imperial Valley Drive; Valencia at Spring Branch on Long Point Road, and Pine Creek on Maxey Road. The properties will be managed by Elandis’s wholly owned subsidiary, Elandis Property Management.
DALLAS — ML Realty Partners has acquired a 163,390-square-foot industrial building at Northgate Business Park in Dallas. ML Realty Partners plans to update the building’s office space to support the growing demand for industrial businesses in northeast Dallas. The distribution facility is located at 9660 Dilworth Road and will be available for lease for spaces as small as 32,584 square feet. The property provides access to I-635 and U.S. Route 75. Gordon Foster & Scott Voelkel of Foster & Co. represented the seller. Matthew Dornak and Ryan Wolcott of Stream Realty Partners represented ML Realty Partners in the acquisition and will also be responsible for leasing the building.
WADSWORTH, OHIO — NAI Cummins has brokered the sale of a 25,600-square-foot industrial property in Wadsworth, approximately 40 miles south of Cleveland, for an undisclosed price. Koorsen Fire and Security purchased the facility at 875 Seville Road and is relocating from a smaller facility in Akron. The seller is a Massachusetts-based private entity. Bob Raskow, Scott Raskow and Jeff Davis of NAI Cummins represented both the buyer and seller in the transaction.
LAUDERDALE LAKES, FLA. — Exclusive Management and Properties Inc. (EMPI) has purchased Lauderdale Marketplace, a 265,000-square-foot retail center in Lauderdale Lakes, for $27 million. EMPI bought the property from Austin Forman and William Murphy of Lauderdale Marketplace Investments LLC. Lloyd Berger and Joe Byrnes of Berger Commercial Realty represented the seller in the transaction. Located on a 30-acre lot at the southeast corner of Oakland Park Boulevard and North State Road 7, Lauderdale Marketplace’s tenant roster includes Broward Health, YouFit Health Club, Davita Dialysis, Papa John’s, Broward Sheriff’s Office, the Department of Veteran Affairs and the Department of Highway Safety and Motor Vehicles. EMPI has retained Berger Commercial Realty to lease and manage Lauderdale Marketplace.
NEW YORK CITY — Cushman & Wakefield has brokered the sale of a five-story residential building located at 240 E. 52nd St. in Manhattan. Coutinho Properties sold the asset for $10.5 million, or $1,122 per square foot. The 9,361-square-foot building features 15 one-bedroom units and a fully furnished basement. Hall Oster and Clint Olsen of Cushman & Wakefield represented the seller, while Stacy Gim of PD Properties represented the undisclosed buyer.
PALM BEACH, FLA. — Ivy Realty has sold The Royal Palm, a three-story boutique office building along “Bankers Row” in Palm Beach, for $16.8 million. Ike Ojala, Hermen Rodriguez and Jorge Portela of HFF represented Ivy Realty in the transaction and procured the buyer, EPIC. The 23,362-square-foot property is located at 250 Royal Palm Way and was 88 percent leased at the time of sale to tenants such as Deutsche Bank and Northern Trust. The Royal Palm features a two-level, 79-space parking garage and seasonal valet and doorman services.