NEW YORK CITY — GFI Realty Services has brokered the sale of an office building located at 2571 E. 17th St. in Brooklyn’s Sheepshead Bay section. Vasco Ventures acquired the asset from a local investor for $3.4 million. The three-story 13,014-square-foot building was vacant at the time of sale. Erik Yankelovich of GFI Realty Services represented the seller and buyer in the transaction.
MOORESTOWN, N.J. — Tabula Rasa HealthCare has signed a lease for 74,565 square feet of office space at Moorestown Corporate Center on Route 38 in Moorestown. The healthcare technology company provides specific, data-driven technology and solutions for healthcare organizations. The three-building, 223,000-square-foot office park is owned by Keystone Property Group. Brian Saggiomo of CBRE represented the tenant, while Scott Paymer provided in-house representation for the landlord in the transaction.
NEWPORT BEACH, CALIF. — Tarsadia Investments has leased the top floor of a 21-story office building that sits across from Fashion Island in Newport Beach. The property is located at 520 Newport Center Drive. The financial company will occupy 18,000 square feet. The new lease brings the property’s occupancy to about 85 percent. Nearly half of the larger Newport Center’s 2.5 million square feet of office space is leased to financial services companies. Tarsadia will share a building with other financial institutions, including Merrill Lynch, Janus Capital Group, Wing Lung Bank, Stifel, Nicolaus & Co., Wells Fargo Advisors and Hightower Advisors. Irvine Company Office Properties owns the building. Additional banking, investment and financial companies that boast office space within Newport Center include PIMCO, Allianz, Pacific Life, UBS Financial Services, Oppenheimer, J.P. Morgan, BNY Mellon, Northern Trust, Morgan Stanley, Aviation Capital Group, ROTH Capital Partners, U.S. Trust and City National Bank.
HOUSTON — Marcus & Millichap has arranged the sale of West Shopping Center, a 19,927-square-foot retail property located in Houston. Watt Harrison and James Bell of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a limited liability company. West Shopping Center is located at 13442 Bellaire Boulevard in Houston.
ATLANTA — Dekel Capital, a Los Angeles-based real estate merchant bank, has arranged a $10.6 million loan for the acquisition and renovation of The Villas on Briarcliff, an 82-unit apartment community located in Atlanta’s North Druid Hills neighborhood. The property features a resort-style pool, 24-hour fitness center and detached garages. Dekel Capital arranged the 18-month, interest-only, floating-rate loan through Berkadia Commercial Mortgage.
BRIDGEPORT, W.VA. — Pittsburgh-based Civil & Environmental Consultants Inc. (CEC) has moved its Bridgeport office to Charles Pointe, a $1.5 billion, 1,700-acre mixed-use community within West Virginia’s I-79 High Technology Corridor. The environmental firm has leased 18,600 square feet of office space at 600 Marketplace Ave. for its 65 Bridgeport employees. CEC provides civil, ecological, environmental and survey services, as well as wastewater collection, transmission and treatment solutions to the mining, oil and gas and real estate industries, as well as to the public sector.
CHICAGO — Cushman & Wakefield has arranged the sale of two newly renovated industrial properties along Chicago’s I-55 corridor for $14.3 million. 51st Holdings LLC purchased the assets, which total 391,483 square feet, from Venture One Real Estate LLC. Venture One acquired the properties in 2014 and completed a renovation that included restored roofs, facade improvements, updated loading docks, revamped office space, lighting and electrical upgrades, and interior and exterior painting. 6500 West 51st St. was vacant at the time of sale, while 6400 West 51st St. was fully occupied by NADC Group, a logistics and supply chain management firm. Larry Goldwasser, Sally Macoicz, Colin Green and Michael George of Cushman & Wakefield represented both parties in the transaction.
NEW YORK CITY — Cushman & Wakefield has arranged the sale of an industrial/office building located at 14-29 112th St. in the College Point neighborhood of Queens. Excavators Union Local 731 acquired the asset from RJB Realty LLC for $4.2 million, or $200 per square foot. The two-level building features 21,058 square feet of industrial and office space. Located within a M1-2 zone, the property also features up to 14,002 square feet in air rights. Stephen Preuss of Cushman & Wakefield represented the seller in the transaction.
SAN ANTONIO — Stream Realty Partners has arranged the sale of a 6,000-square-foot medical office building located at 21708 Hardy Oak Blvd. in the far north-central submarket of San Antonio. Michael Kent of Stream Realty represented the seller, LAIT Texas LLC, in the transaction. The property was built in 2001 and tenants include Physical Therapy and Birth Center Stone Oak. The building is near North Central Baptist and Stone Oak Methodist hospitals, with access to Loop 1604 and Highway 281.
HOUSTON — Marcus & Millichap has arranged the sale of Houston Heights Retail Redevelopment, a 12,050-square-foot retail property in Houston. Gus Lagos and Evan Altemus of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a partnership. Altemus and Lagos also procured the unnamed buyer. Houston Heights Retail Redevelopment is located at 1803 Ella Blvd.