more_sales_and_leases

The Stubblebine Company Brokers $1M Sale of Health Club Facility in Massachusetts

by Amy Works April 27, 2016

BURLINGTON, MASS. — The Stubblebine Company/CORFAC International has arranged the sale of a health club facility at 12 A St. in Burlington. Academy of Creative Arts acquired the property from Burlington Recreation Group for $1 million. The buyer, which is currently located at 217 Middlesex Turnpike, plans to relocate to the facility. Built in 1977, the 17,500-square-foot facility has been the site of several health clubs, including Gold’s Gym, Mad Maggie’s and Empire Fitness. David Stubblebine, James Stubblebine and Alan Ringuette of The Stubblebine Company procured the buyer and represented the seller.

April 27, 2016

Industrial Midwest Wisconsin

The Dickman Company Brokers Sale of 20,860 SF Industrial Building in Milwaukee

by Christina Cannon April 26, 2016

MILWAUKEE — The Dickman Company Inc./CORFAC International has brokered the sale of a 20,860-square-foot industrial building in Milwaukee for an undisclosed price. Dean Road Property LLC purchased the building from 8800 West Dean Road LLC. Samuel M. Dickman Jr. and Samuel D. Dickman of The Dickman Company were the sole brokers in the transaction. The property is located at 8800 West Dean Road.

April 26, 2016

Midwest Retail Wisconsin

Siegel-Gallagher Arranges 1,600 SF Retail Lease in Milwaukee Suburb

by Christina Cannon April 26, 2016

WAUKESHA, WIS. — Siegel-Gallagher has arranged a 1,600-square-foot retail lease in Waukesha, approximately 20 miles west of Milwaukee. The Richards Group Inc., a branding agency, will occupy space at Meadowbrook Marketplace, located at 601-921 Meadowbrook Road. Meadowbrook Marketplace LLC is the landlord. Devin Tessmer of Siegel-Gallagher brokered the transaction.

April 26, 2016

Industrial Texas

NAI Partners Arranges Sale of Industrial Property in Houston

by Haisten Willis April 26, 2016

HOUSTON — NAI Partners has arranged the sale of a 22,415-square-foot, freestanding industrial manufacturing facility located on 2.8 acres at 4740 Eastpark Drive in Houston. Darren O’Conor of NAI Partners represented the seller, BV Oilfield Service & Supply, in the negotiations, while Jake Wilkinson of NAI Partners represented the buyer, Power Supply Seals.

April 26, 2016

Alabama Georgia Industrial South Carolina Southeast

CenterPoint Properties Acquires 1.2M SF Warehouse Portfolio in the Southeast

by John Nelson April 26, 2016

OAK BROOK, ILL. — CenterPoint Properties has purchased a three-building, 1.2 million-square-foot portfolio of Class A warehouses located in Savannah, Ga.; Charleston, S.C.; and Mobile, Ala. All three buildings are fully leased and feature 32-foot clear heights, cross dock loading configurations, 50- by 52-foot column spacing and parking for trailers. All three buildings are also located near the Ports of Savannah, Charleston and Mobile. CenterPoint purchased the portfolio from Johnson Development Associates Inc. for an undisclosed price. Frank Fallon of CBRE represented the seller in the transaction.

April 26, 2016

Florida Multifamily Southeast

Franklin Street Brokers $7M Sale of Apartment Community in Central Florida

by John Nelson April 26, 2016

WINTER SPRINGS, FLA. — Franklin Street has arranged the $7 million sale of Tuskawilla Park Apartments, a 41-unit apartment complex located at 154 Tuskawilla Road in Winter Springs, roughly 15 miles north of Orlando. Originally built as a condominium development in 2009, the apartment complex features elevators and 6,377 square feet of ground-floor commercial space that is fully leased by two local engineering firms and the Florida Department of Motor Vehicles. Darron Kattan, Kevin Kelleher, Zachary Ames and Robert Goldfinger of Franklin Street represented the seller, California-based Pathfinder Landology ISIS Holdings LLC, and the buyer, Virginia-based CIG Tuskawilla Park LLC, in the transaction.

April 26, 2016

New Jersey Northeast Office

NAI Hanson Negotiates Sale of 36,216 SF Office Building in New Jersey

by Amy Works April 26, 2016

PARSIPPANY, N.J. — NAI James E. Hanson has arranged the sale of an office building located at 119 Littleton Road in Parsippany. Commercial Realty Group acquired the 36,216-square-foot building from Hollywood Towne House LLC for an undisclosed sum. The property features two full floors of approximately 12,000 square feet each, in addition to pre-built suites starting at 1,384 square feet. Josh Levering and James Kenah of NAI Hanson represented the seller in the transaction.

April 26, 2016

Industrial New Jersey Northeast

Sitar Realty Co. Arranges 104,005 SF Industrial Lease in New Jersey

by Amy Works April 26, 2016

ELIZABETH, N.J. — Sitar Realty Co. has arranged a 104,005-square-foot industrial lease at 699 Kapkowski Road in Elizabeth. CMC Food Inc. leased the space from Northport Industrial Center LLC. William Sitar Jr. and John Cranley of Sitar Realty Co. brokered the lease transaction. Terms of the lease were not released.

April 26, 2016

Loans Northeast Office Pennsylvania Retail

JV Receives $21.7M Acquisition Loan for Retail/Office Center Near Philadelphia

by Amy Works April 26, 2016

DREXEL HILL, PA. — A partnership between The Hampshire Companies and and MCB Real Estate has received $21.7 million in acquisition financing for Drexeline Shopping Center, a mixed-use center located at 4990-5100 State Road in Drexel Hill, a suburb of Philadelphia. Loan proceeds will be used for the acquisition and a secure line of credit for redevelopment and repositioning of the grocery-anchored shopping center. John Mikula and Michael Klein of HFF arranged the financing, which was provided by Flushing Bank, for the borrower. Situated on 18.4 acres and consisting of five buildings, Drexeline Shopping Center is occupied by more than 40 retail and office tenants, including Shop Rite, Ace Hardware, Anthony’s Restaurant, PNC Bank, Drexel Hill Pediatrics Associates and Children’s Dental Health Associates.

April 26, 2016

California Retail Western

Newmark Grubb Pearson Commercial Negotiates Two Retail Leases in California

by Nellie Day April 26, 2016

FRESNO, CALIF. — Newmark Grubb Pearson Commercial, a division of Pearson Realty, has arranged two retail leases in Fresno totaling 3,142 square feet. In the first transaction, Christopher Islas leased 912 square feet of space at 7723-B First St. from J&D Properties. The tenant plans to use the space for a barber shop. In the second deal, Fresno Ultimate Martial Arts leased 2,230 square feet of space at 7731 N. First St. from J&D Properties. Troy McKenney and Craig Holdener of Newmark Grubb Pearson Commercial brokered both transactions.

April 26, 2016

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