more_sales_and_leases

IPA Arranges Sale of 158-Bed Seniors Housing Facility in Dallas

by Haisten Willis May 25, 2016

DALLAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap serving institutional and private real estate investors, has arranged the sale of The Legacy at Preston Hollow, a nonprofit seniors housing facility featuring 45 assisted living beds and 113 skilled nursing beds. Built in 2000, The Legacy at Preston Hollow is located about 10 miles north of downtown Dallas, and 1.4 miles from 668-bed Medical City Dallas Hospital. Mark Myers, Joshua Jandris, Charles Hilding and Ryan Fleming of IPA, along with Kelsie Vogds of Marcus & Millichap, represented the seller. Myers, Jandris, Hilding and Fleming also procured the buyer.

May 25, 2016

citadel-partners-dallas-cpa-society-12400-coit-road

Office Texas

Citadel Partners Brokers Office Lease in Dallas

by Haisten Willis May 25, 2016

DALLAS — Citadel Partners LLC has represented Dallas CPA Society in the completion of a 6,364-square-foot office lease at 12400 Coit Road in Dallas. Taylor Dickerson and Scott Morse of Citadel Partners represented the tenant, and Layne Mayfield and Rodney Helm of Cushman & Wakefield represented the unnamed landlord.

May 25, 2016

California Multifamily Western

TruAmerica, Berkshire Group Buy Career Lofts in Laguna Niguel

by Nellie Day May 24, 2016

LAGUNA NIGUEL, CALIF. — A joint venture between TruAmerica Multifamily and an affiliate of Berkshire Group has acquired the 142-unit Career Lofts in Laguna Niguel for an undisclosed sum. The community is located at 28100 Cabot Road, along California State Route 73. The JV plans to rebrand the property as Sky at Laguna Niguel. It is only the second institutional-grade multifamily project to be constructed in the submarket in more than 20 years, according to the JV. Steve Fried and Seth Hall of Mesa West Capital assisted with the financing.

May 24, 2016

Industrial Retail Texas

SACA Brokers Sale of Three Tracts of Land in San Antonio

by Haisten Willis May 24, 2016

SAN ANTONIO — San Antonio Commercial Advisors (SACA), an independently owned and operated member of the Cushman & Wakefield Alliance, has brokered the sale of three land tracts at the 1400 Sonterra development located at the southwest corner of US 281 North and East Sonterra Boulevard in San Antonio. SACA’s Paul Fagan represented the owner, CLDC Texas LLC, and was responsible for the sale of all three tracts, which total 10 acres. CLDC Texas originally owned approximately 300 acres near the property, most of which is now occupied by a Walmart, Costco and the Methodist Stone Oak Hospital. Only nine acres remains available as the city has experienced strong growth in the area since CLDC originally obtained the land in 1993. The sales included 3.8 acres to CHRISTUS Santa Rosa Health Care Corp. Paul Barker of Endura Advisory Group represented CHRISTUS in the transaction. Other transactions included 1.6 acres to Brundage Mini Storages LTD #3, which is planning a 600-unit, climate-controlled self storage facility at the site. Bert Denson of Brundage Management Co. Inc. represented Brundage Mini Storage in the deal. The final land sale included 4.4 acres to an unnamed buyer that intends to make a more detailed announcement …

May 24, 2016

Office Texas

Physician Buys Foreclosed Office Building in Fort Worth

by Haisten Willis May 24, 2016

FORT WORTH, TEXAS — A local physician has acquired a foreclosed 5,000-square-foot office building on the ring road of Ridgmar Mall in west Fort Worth from JPMorgan Chase Bank. The just-sold brick building is located at 2600 Mall Circle. Dr. Joseph Obeng is planning to renovate the single-story structure and relocate his practice from the Fort Worth Medical District. Obeng plans to reserve 2,500 square feet for his new office and rely on his broker, Casey Tounget of Coldwell Banker Commercial Alliance DFW, to find a professional tenant to fill the balance. The structure was built in 1980 on nearly 0.4 acres near I-30 and fronts the perimeter road for the 100-store mall. Obeng formed New Seasons Investment to acquire the property. John Grace of Colliers International represented the seller.

May 24, 2016

Michigan Midwest Retail

Friedman Brokers Sale of 11,800 SF Retail Building in Metro Detroit

by Christina Cannon May 24, 2016

TRENTON, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of an 11,800-square-foot retail building in Trenton, approximately 20 miles southwest of Detroit. Land Holding LLC sold the building, named Animal Crackers, to Trinity Realty Group LLC for an undisclosed price. The property is located at 124 Elm St. Paul Feldman of Friedman Integrated Real Estate Solutions represented the seller in the transaction.

May 24, 2016

Connecticut Multifamily Northeast

Winthrop Realty Trust Sells 93-Unit Apartment Community in Connecticut for $87.5M

by Amy Works May 24, 2016

STAMFORD, CONN. — Winthrop Realty Trust has completed the sale of Highgrove, an ultra-luxury apartment community located in Stamford. A private investment group acquired the property for $87.5 million, or $940,860 per unit. Designed by Robert A.M. Stern, the 18-story high-rise features 93 condominium units, a grand resident lobby, clubroom, media screening room, wine cellar, caterer’s kitchen, private elevator entrances, expansive fitness center with sauna, steam room and pool facilities. Units feature gourmet kitchens with marble counters, high-end appliances, oversized cabinets, 10-foot ceilings, crown moldings, hardwood flooring, fireplaces, private balconies, six-piece master baths and walk-in closets. Jeffery Dunne, Gene Pride and Travis Langer of CBRE represented the seller in the transaction.

May 24, 2016

Industrial New Jersey Northeast Office

Commercial Realty Group Acquires 446,076 SF Industrial, Office Complex in New Jersey

by Amy Works May 24, 2016

MOUNT OLIVE, N.J. — Commercial Realty Group has acquired a 446,076-square-foot industrial and office complex located at 350 Clark Drive in Mount Olive. North Jersey Development Group sold the property for an undisclosed price. Situated on 40.5 acres, the asset features a 335,122-square-foot industrial building with 29,340 square feet of mezzanine space and a three-story, 75,000-square-foot Class A office building, which was built in 1995. The industrial portion is 100 percent leased to two tenants, Performance Food Group and 350 Logistics, while the office portion is home to eight tenants, including Mars Incorporated, Lion Ribbon Co., Hundley Burns and FC Architects. Michael Nachamkin, Jose Cruz and Robert Borny of HFF represented the seller in the transaction.

May 24, 2016

New Jersey Northeast Office

NAI Hanson Arranges Sale of 30,459 SF Office Property in New Jersey

by Amy Works May 24, 2016

PARSIPPANY, N.J. —NAI James E. Hanson has brokered the sale of an office building located at 140 Littleton Road in Parsippany. Choice Properties acquired the 30,459-square-foot building from Gisella Haidar for an undisclosed price. The three-story office building was 80 percent leased at the time of sale. Josh Levering and Andrew Kirshenbaum of NAI James E. Hanson represented the seller in the transaction.

May 24, 2016

Florida Retail Southeast

Marcus & Millichap Brokers $12.3M Sale of Retail Property in South Beach

by John Nelson May 24, 2016

MIAMI BEACH, FLA. — Marcus & Millichap has arranged the $12.3 million sale of Plaza 1600 South Beach, a 6,090-square-foot retail property located in Miami Beach’s South Beach neighborhood. The property is located at the intersection of 16th Street and Alton Road, roughly one block from Lincoln Road Mall. Built in 1959 and renovated in 2000, Plaza 1600 South Beach’s current tenants include Lyon Frères Petit Marché, Dunkin’ Donuts and Pizza Hut. Scott Sandelin and Alejandro D’Alba of Marcus & Millichap’s Miami office represented both the seller, a partnership from Miami Beach, and the buyer, a limited liability company from Miami.

May 24, 2016

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