more_sales_and_leases

Linchris Hotel Corp. Sells 227-Room Hampton Inn Near Boston Logan International Airport

by Amy Works April 22, 2016

REVERE, MASS. — Linchris Hotel Corp. has completed the sale of the Hampton Inn Boston-Logan Airport, located at 230 Lee Burbank Highway in Revere. The 227-room property was sold for an undisclosed sum. Built in 2001, the seven-story hotel features 672 square feet of function space, an indoor swimming pool, fitness room, business center, complimentary shuttle service and breakfast, an airline crew lounge and dining options at the Two Doors Down Bar & Restaurant. Denny Meikleham and Alan Suzuki of HFF represented the seller in the transaction. The name of the buyer was not released.

April 22, 2016

Mixed-Use Multifamily New York Northeast Retail

Meridian Negotiates $8.8M Sale of 44-Unit Mixed-Use Property in the Bronx

by Amy Works April 22, 2016

NEW YORK CITY — Meridian Investment Sales has arranged the sale of a mixed-use property located at 600 E. 178th St. in the Bronx. The six-story, elevator-serviced building sold for $8.8 million, equivalent to a 5.5 percent cap rate. Located in the Tremont neighborhood, the 47,200-square-foot property features 45 residential units and six retail units. Mark Steinmetz of Meridian Investment Sales represented the buyer and seller in the transaction. The names of the buyer and seller were not released.

April 22, 2016

California Retail Western

First 365 by Whole Foods Market to Open in Los Angeles

by Nellie Day April 21, 2016

LOS ANGELES — 365 by Whole Foods Market is opening its first location on May 25 in the Silver Lake neighborhood of Los Angeles. The location will feature selections from Whole Foods Market’s 365 Everyday Value brand, as well as local and branded products. Additionally, the new store will host several “Friends of 365” offerings through partnerships with by CHLOE., Allegro Coffee Co. and teaBOT, a retail platform that provides custom grab-and-go tea in under 30 seconds. 365 by Whole Foods has also partnered with Loomstate to custom design employee apparel for the stores. Two additional 365 by Whole Foods Market locations will open in 2016 — in Bellevue, Wash., and Portland, Ore. — and up to 10 stores are expected to open in 2017.

April 21, 2016

California Retail Western

California Realty Group Brokers 6,756 SF Retail Lease in Los Angeles

by Nellie Day April 21, 2016

LOS ANGELES — California Realty Group has arranged the lease of 6,756 square feet of retail space at 5100 Wilshire Blvd. in the Hancock Park neighborhood of Los Angeles. Automobile Club of Southern California signed a 10-year deal for the space, which is situated within the Mansfield mixed-use project. The new location is slated to open in the third quarter of 2017. Keith Kleinman and Mark Esses of California Realty Group represented the tenant, while CBRE’s Tim Bower and Gabrielle Lardiere represented the undisclosed landlord in this transaction.

April 21, 2016

Maryland Office Southeast

U.S. Nuclear Regulatory Commission Renews 347,922 SF Lease in Metro D.C.

by John Nelson April 21, 2016

NORTH BETHESDA, MD. — The General Services Administration (GSA), on behalf of the U.S. Nuclear Regulatory Commission, has renewed a 347,922-square-foot lease at Two White Flint North, a 10-story office building in North Bethesda. The GSA occupies the entire property as well as its sister property, the 18-story One White Flint North. The GSA inked the lease renewal with Two White Flint North’s ownership group, Lerner Enterprises and The Tower Cos.

April 21, 2016

Airport North Logistics Park Medley Miami

Florida Industrial Southeast

Cushman & Wakefield Arranges 105,920 SF Lease in Metro Miami

by John Nelson April 21, 2016

MEDLEY, FLA. — Cushman & Wakefield has arranged a 105,920-square-foot lease for space at Airport North Logistics Park, a 900,000-square-foot, Class A industrial complex currently under construction in Medley, part of Miami’s Airport North industrial submarket. The industrial park is situated on 45 acres at 8502 N.W. 80th St. The tenant, Neutralogistics Distribution LLC, signed the five-year lease for space in Building One, which will feature a 120-foot concrete truck court, 34-foot clear heights, 57 overhead doors, two ramps, 60-foot staging bay, an ESFR sprinkler system, 227 parking spaces and T-5 lighting. Wayne Ramoski and Gian Rodriguez of Cushman & Wakefield represented the landlord, Airport North Industrial Inc., in the lease deal. Juan Ruiz of Blanca Commercial Real Estate represented the tenant.

April 21, 2016

Retail Southeast Virginia

KLNB Retail Brokers Sale of Grocery-Anchored Shopping Center in Alexandria

by John Nelson April 21, 2016

ALEXANDRIA, VA. — KLNB Retail has brokered the sale of New Grand Shopping Center, a 65,330-square-foot shopping center located at 6229-6259 Little River Turnpike in Alexandria, roughly 10 miles outside of Washington, D.C. The center was fully leased at the time of sale and anchored by New Grand Mart, an international supermarket that specializes in Korean, East Asian, Latino and African groceries. Other tenants include Pho Factory, TempAsian Café, Hee Been Restaurant, Panaderia Latina, Mamas Chicken, Kabob Restaurant, Halal Meats, a dry cleaner, laundromat, men and women’s hair salons and a beauty supply store. Andy Stape and Vito Lupo of KLNB Retail represented the seller, Grand Shopping Center LLC, and procured the buyer, a private real estate fund advised by Crow Holdings Capital-Real Estate. The sales price was not disclosed.

April 21, 2016

Michigan Midwest Retail

Northville Park Place in Michigan Secures New Retail Tenants

by Christina Cannon April 21, 2016

NORTHVILLE, MICH. — Schostak Brothers & Co. and REI Investment Group Inc. have secured several new leases at Northville Park Place, a 500,000-square-foot mixed-use development located at the intersection of Seven Mile and Haggerty roads in Northville, approximately 30 miles northwest of Detroit. Trader Joe’s will occupy an outparcel once construction on the 12,500-square-foot building is completed in the first quarter of 2017. Other recent lease signings include DentalWorks leasing 3,097 square feet, One Society inking a deal for 2,694 square feet and Brain Balance Achievement Centers leasing 2,595 square feet. All three tenants are expected to be open by this fall. Current tenants at the center include MOD Pizza, Tom + Chee, Chipotle, Red Olive, SVS Vision Optical Centers, Jimmy John’s, Sherwin Williams, Gazelle Sports, Orangetheory Fitness, BurgerFi, Rusty Bucket, Sports Clips and Granite City Food & Brewery.

April 21, 2016

Northeast Pennsylvania Retail

PFG Capital Sells Five-Property Self-Storage Portfolio in Harrisburg for $35M

by Amy Works April 21, 2016

HARRISBURG, PA. — PFG Capital has completed the sale of a five-property self-storage portfolio in Harrisburg. Self Storage Capital Partners purchased the assets, which total 310,257 rentable square feet, for $35 million. The Storage Depot-branded portfolio consists of properties located at 6325 Allentown Blvd., 32 Milroy Road, 4401 N. Sixth St., 350 S. Seventh St. and 115 Cumberland Parkway. The portfolio consists of 243 climate-controlled units, 2,271 non-climate-controlled units, 87 income-producing surface parking spaces and eight warehouse/commercial units totaling 14,054 square feet. Richard Schontz, Barbara Guffey and Matthew Weckesser of HFF represented the seller in the transaction. James Conley of HFF arranged $25.5 million in acquisition financing for the buyer in the transaction.

April 21, 2016

Industrial Northeast Pennsylvania

The Garibaldi Group Brokers 483,990 SF Warehouse/Distribution Lease in Pennsylvania

by Amy Works April 21, 2016

BETHLEHEM, PA. — The Garibaldi Group has arranged the lease of an industrial spec building located at 4770 Hanoverville Road in Bethlehem. Stitch Fix, an online subscription and personal shopping service, leased the single-tenant 483,990-square-foot warehouse facility to use a distribution center as it expands its user base on the East Coast. Developed and owned by Prologis, the building features 4,250 square feet of office space, 75 dock high doors and two grade-level positions. Michael Bartolacci and Jerry Moore of The Garibaldi Group, along with Meg Buffington and Bill Bumber of Prologis, represented the landlord, while Kim Meincke Jacobsen and Paul Torosian of JLL represented the tenant in the transaction.

April 21, 2016

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