MIAMI BEACH, FLA. — Marcus & Millichap has arranged the $8.7 million sale of an 8,700-square-foot mixed-use property at 1609 Alton Road in Miami Beach’s South Beach neighborhood. Scott Sandelin and Alejandro D’Alba of Marcus & Millichap’s Miami office represented both the seller, a limited liability company based in Miami Beach, and the buyer, a limited liability company based in New York. The two-story asset comprises 4,500 square feet of retail space and 4,200 square feet of office space. The property was fully leased at the time of sale to a nail salon, liquor store and medical office tenant.
CHAPEL HILL, N.C. — Unison Realty Partners has purchased Chatham Crossing, a 96,155-square-foot neighborhood shopping center in Chapel Hill. The property was 90 percent leased at the time of sale to tenants such as Lowes Foods and CVS/pharmacy. Unison Realty’s plans for the property include stabilizing existing tenants, updating the façade of the building and leasing up the shopping center’s remaining vacancies. Berkeley Capital Advisors brokered the acquisition. Chatham Crossing is Unison Realty’s first acquisition in North Carolina.
STAMFORD, CONN. — A consortium consisting of Anbang Insurance Group Co., J.C. Flowers & Co. and Primavera Capital Limited has increased its bid to acquire Starwood Hotels & Resorts Worldwide (NYSE: HOT) to $82.75 in cash per share of Starwood common stock from the previous non-binding proposal of $81 per share bid, which was made on March 26. Starwood’s board of directors has concluded that this revised, non-binding proposal from the consortium is a superior proposal as defined in Starwood’s merger agreement with Marriott International Inc. (NASDAQ: MAR), according to a press release issued Monday by Starwood. The new proposal is valued at $14 billion versus Marriott’s previous offer of $13.6 billion. The Starwood board, in consultation with its legal and financial advisors, will carefully consider the outcome of the discussion with the consortium in order to determine the course of action that is in the best interest of Starwood and its stockholders, the news release stated. Under the terms of the consortium’s current revised proposal, the consortium will acquire all the outstanding shares of common stock of Starwood for $82.75 per share in cash, an increase of $4.75 per share from its initial binding proposal of $78 per share …
RAMSEY, N.J. — Prestige Management Services has acquired an industrial facility located at 133 Williams Drive in Ramsey. Kislevitz Family LLC sold the 175,438-square-foot property for $16 million. Prestige will occupy the entire building starting in spring 2018. Constructed in 1980 and renovated in 2012, the building features 21,000 square feet of office space, 27-foot clear ceiling heights, 32-foot column spacing and parking for 245 vehicles. Chris Max and Daniel Foley of Savills Studley brokered the transaction.
NEW YORK CITY — TerraCRG has arranged the sale of a multifamily property located at 310 12th St. in Brooklyn’s Park Slope neighborhood. The five-story asset sold for $9.2 million, or $628 per square foot. The 14,644-square-foot building features one four-bedroom apartment with side yard access, six three-bedroom apartments and 13 two-bedroom units. Of the 20 units, eight are fully renovated, free-market units and 12 are rent stabilized. Adam Hess, Sam Shalumov, Eddie Setton and Kirill Galperin of TerraCRG brokered the transaction. The names of the seller and buyer were not released.
NEW YORK CITY — Marcus & Millichap has arranged the sale of an apartment building located at 1072 Woodycrest Ave. in the Bronx’s Highbridge section. An institutional investor acquired the 49-unit asset for $7.7 million. Marco Lala and Chris Wynne of Marcus & Millichap’s Manhattan office represented the seller, a private investor, and the buyer in the transaction.
NORWOOD, OHIO — CBRE has arranged a 172,000-square-foot, long-term lease for CDK Global, the largest global provider of information technology and digital marketing solutions for the automotive retail industry. CDK Global will operate a national customer service center at Central Parke I & III in Norwood, approximately 10 miles northeast of Cincinnati. CDK Global will bring 1,000 full-time jobs to Norwood. Travis Likes and John Eckert from CBRE’s Cincinnati office, in addition to David Saad from the Chicago office, represented CDK Global in the deal.
COLUMBUS — SRS Real Estate Partners has brokered the sale of a retail property net leased to Champps Americana Restaurant in Columbus for an undisclosed price. The 10,582-square-foot restaurant is situated on two acres at 3993 Morse Crossing. Pickerington Square LP purchased the property, which is an outparcel to a power center. Kyle Stonis, Pierce Mayson, John Topping Jr. and Brad Gibbs of SRS Real Estate Partners represented the sellers, a group of tenant-in-common co-owners, in the transaction. The buyer was self represented.
SANTA ANA, CALIF. — Newmark Grubb Knight Franck has arranged a new lease with Colorado Springs, Colo.-based Phenix Salon Suites. Phenix Salon Suites will occupy 7,000-square-foot at the newly constructed, single-tenant retail building. The new salon will open in September 2016. The 15-year lease is valued at $3.7 million. Randee Stratton of NGKF represented Phenix Salon Suites. The landlord is an entity of Red Mountain Retail Group.
TORRANCE, CALIF. — Simon Property Group has signed Dick’s Sporting Goods as an anchor for Del Amo Fashion Center in Torrance. The two-level, 83,000-square-foot store will be the largest Dick’s prototype store for its new design. The store will be located on the south portion of the center on the second and third levels of the former Macy’s, which was consolidated from three stores to two units last summer. The new Dick’s Sporting Goods is slated to open in spring 2017.