ATLANTA — Preferred Apartment Communities Inc. (PAC) has purchased six grocery-anchored retail properties in Georgia, South Carolina and Alabama for $68.7 million. The portfolio spans 535,000 square feet and comprises five Publix-anchored centers and one Walmart Supercenter-anchored property. PAC purchased the six properties through its wholly owned subsidiary New Market Properties LLC. PAC used roughly $25 million in debt from Unum Life Insurance Co. of America, Colonial Life & Accident Insurance Co. and First Unum Life Insurance Co. to purchase four of the properties. PAC used available funds to purchase the remaining balance of the four properties and to purchase the other two retail centers completely without debt.
HOUSTON — Baker Katz has purchased a 40,000-square-foot site in Houston that includes an existing 12,000-square-foot building occupied by Foodarama, a Texas supermarket chain. The property is located in the Houston neighborhood of Timbergrove, which is adjacent to Houston Heights.
DALLAS — Marcus & Millichap has arranged the sale of Zora Lee, an eight-unit apartment property located in the Old East Dallas neighborhood. Nick Fluellen and Bard Hoover of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a limited liability company. Fluellen and Hoover also procured the buyer, an individual/personal trust. Zora Lee is located at 4831 Junius St. Built in 1923, the historic property is five miles northeast of the Dallas central business district.
SUNBURY, OHIO — The Cooper Commercial Investment Group has brokered the $1.3 million sale of a building net leased to Starbucks in Sunbury, approximately 25 miles north of Columbus. An Ohio-based private investor sold the approximately 1,613-square-foot asset to a Florida buyer in an all-cash transaction. The asset sold for 98 percent of the list price at a 5.1 percent capitalization rate.
NEW YORK CITY — Cushman & Wakefield has arranged the sale of a five-story loft building located at 51 White St. in Tribeca. 51 White Street LLC acquired the property from R.A Cohen & Associates for $22 million, or $1,064 per square foot. The 20,670-square-foot building features 12.5-foot ceiling heights, oversized windows and a sub-cellar, as well as a roof top with views of the Empire State Building and One World Trade Center. At the time of acquisition, the property was vacant. James Nelson, Will Suarez and David Shalom of Cushman & Wakefield represented the seller, while David Friedman of Vertex Realty Group represented the buyer.
NEW YORK CITY — Besen & Associates has arranged the sale of an industrial warehouse building located at 780 E. 135th St. in the Mott Haven neighborhood of the South Bronx. An undisclosed buyer acquired the six-story property for $14 million, or $165 per square foot. Built in 1912, the building features 84,650 square feet of industrial warehouse space. Ronnie Shaban of Besen & Associates represented the undisclosed seller and procured the buyer.
PATERSON, N.J. — Marcus & Millichap has brokered the sale of Oak and Redwood Apartments, located at 441-443 10th Ave. and 374-376 10th Ave. in Paterson. A private investor acquired the asset for $2.8 million. Located within three blocks of each other, the two three-story walk-up properties feature a total of 34 apartment units. Brian Hosey led the Marcus & Millichap team that represented the seller, a private investor, and secured the buyer in the deal.
BAYONNE, N.J. — NAI James E. Hanson has arranged the lease of 105,097 square feet of industrial warehouse space at 99 Hook Road in Bayonne. Tramo@Home, a fine furniture and antique transportation company, will relocate to the space from 51 Hook Road. The 500,166-square-foot industrial facility features 24-foot ceiling heights, 100 trailer spaces and 31 loading spaces. Tom Vetter and Jeff DeMagistris of NAI Hanson represented the tenant in the transaction.
DALLAS — Lee & Associates has negotiated the sale of a 26,000-square-foot industrial building located at 11281 Indian Trail in Dallas. Adam Graham and Ken Wesson of Lee & Associates Dallas/Fort Worth office represented the seller, EastGroup Properties, in the transaction. Jim Svidron with NAI Robert Lynn represented the buyer, Abdul Khan.
DALLAS — Jordan & Skala Engineers Inc. has renewed and expanded its office lease to a total of 16,107 square feet in Briargrove Place. The property is located at 17855 N. Dallas Parkway in Dallas. Emily Hoffman with Cushman & Wakefield represented Jordan & Skala Engineers in the transaction.