more_sales_and_leases

Index Investment, Eastwind Development Sell Apartment Community in Palm Beach County for $42M

by John Nelson February 29, 2016

JUPITER, FLA. — Dakota Abacoa Housing LLC, an entity jointly owned by Index Investment Group and Eastwind Development, has sold Dakota at Abacoa, a 190-unit apartment property in Jupiter. An affiliate of West Palm Beach-based Priderock Capital Partners known as PRCP-ABACOA INVESTMENT LLC purchased the community for $42 million. Index Investment and Eastwind Development developed the apartment complex, which opened in June 2014. The property features a pool, whirlpool spa, fitness center and clubhouse. The community includes one-, two- and three-bedroom units with rents starting at $1,370.

February 29, 2016

The Shoppes at Arts District Hyattsville

Maryland Retail Southeast

KLNB Retail Brokers $20.5M Sale of Shopping Center in Metro D.C.

by John Nelson February 29, 2016

HYATTSVILLE, MD. — KLNB Retail has arranged the $20.5 million sale of The Shoppes at Arts District, a 36,000-square-foot shopping center located at 5331 and 5501 Baltimore Ave. in downtown Hyattsville, roughly two miles outside of Washington, D.C. The property was fully leased at the time of sale to tenants such as Busboys & Poets, Yes! Organic Market, Elevation Burger, Essential Day Spa and Big Bad Woof. Andy Stape and Vito Lupo of KLNB Retail Investment Sales represented the seller, ADH Retail LLC, and also procured the buyer, Cedar Realty Trust.

February 29, 2016

Florida Healthcare Retail Southeast

Investment Properties Corp. Arranges $15.8M Sale of Medical Office in Naples

by John Nelson February 29, 2016

NAPLES, FLA. — Investment Properties Corp. has arranged the $15.8 million sale of 59,000 square feet of medical office and retail space in Naples. The property is located at 11121 and 11181 Health Park Blvd. within Collier Health Park. Farley White CHP LLC purchased the property from CHP Erie Investors LLC. David Stevens and Clint Sherwood of Investment Properties arranged the sale.

February 29, 2016

California Retail Western

Lee & Associates Negotiates 45,000 SF Lease for LA Fitness in Agoura Hills

by Nellie Day February 29, 2016

AGOURA HILLS, CALIF. — Lee & Associates-LA North/Ventura has brokered a 45,000-square-foot lease for a built-to-suit LA Fitness at 29431 Agoura Road in Agoura Hills. Selleck Development Group (SDG) is developing the LA Fitness facility, along with a 4,000-square-foot freestanding pad, which was approved by the Agoura Hills City Council in January. The full service health club will feature a pool, racquetball courts, basketball and volleyball courts, free weights, cardio, spinning and a kid’s club. The 4,000-square-foot retail portion of the development can be divided to accommodate units as small as 1,000 square feet. Mike Tingus and Grant Fulkerson of Lee & Associates represented the owner and developer, Selleck Development Group, in the transaction.

February 29, 2016

Industrial Midwest Wisconsin

Sherwin-Williams Leases 10,000 SF Industrial Space in Kenosha, Wisconsin

by Christina Cannon February 29, 2016

KENOSHA, WIS. — Sherwin-Williams Co. has leased 10,000 square feet of industrial space in Kenosha, approximately 35 miles south of Milwaukee. Sherwin-Williams will occupy space at the Business Center of Kenosha, which is located within the Business Park of Kenosha. The space being leased will serve as warehouse and distribution space for the paint products and materials company. Kevin Vernick of Vernick & Associates Ltd. represented Sherwin-Williams in the transaction. Sergio Chapa, Chelsea Couette and Michael Kleber of Newmark Grubb Knight Frank represented the landlord, Zilber Property Group.

February 29, 2016

Industrial Northeast Pennsylvania

The Hampshire Companies Sells 596,703 SF Industrial Building in Pennsylvania

by Amy Works February 26, 2016

MECHANICSBURG, PA. — The Hampshire Companies has completed the disposition of a 596,703-square-foot industrial building located at 1225 S. Market St. in Mechanicsburg. Allen Distribution acquired the property for an undisclosed price. Situated on more than 100 acres, the property features ceiling heights ranging from 16 feet to 30 feet, 58 loading doors, one drive-in door, 747 car parking spots and 24 trailer stalls. Additional features include a fire suppression system, office-chiller air handler HVAC system, warehouse rooftop cooling units, gas-fired heating air rotation units, on-site helicopter pad and power sub-station. At the time of sale, the property was 65 percent occupied with an available 205,858 square feet of vacancy. Gerard Blinebury, Marie Connell and Samantha Kennedy of Cushman & Wakefield brokered the transaction.

February 26, 2016

Industrial New Jersey Northeast

NAI Hanson Brokers Sale of 53,152 SF Industrial Building in New Jersey

by Amy Works February 26, 2016

CARLSTADT, N.J. — NAI James E. Hanson has arranged the sale of a newly constructed 53,152-square-foot industrial building in Carlstadt. Loftex Logistics LLC, a Chinese textile company, acquired the property from Sitex Group for an undisclosed price. Located at One Palmer Terrace, the warehouse features 32-foot clear ceiling heights, 52-foot by 60-foot column space, five loading docks with 30,000-pound capacity levelers and one drive-in door. Additionally, the facility features state-of-the-art energy-efficient T-5 fluorescent lighting, 41 on-site parking spaces, a 130-foot truck court with a 60-foot concrete apron. Loftex Logistics plans to use the property as its first fulfillment and distribution center in the United States. Tom Vetter and Jeff DeMagistris of NAI James E. Hanson represented the seller, while Century 21 New Beginnings Realty represented the buyer in the transaction.

February 26, 2016

Industrial Texas

IPA Negotiates Sale of Development Site in Metro Dallas

by Haisten Willis February 26, 2016

MCKINNEY, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap serving institutional and major private real estate investors, has negotiated the sale of a 30-acre development site along State Highway 121/U.S. Highway 75 corridor in McKinney. The site is located at 5401 Collin McKinney Parkway, one block north of State Highway 121, two miles west of Highway 75 and east of the Dallas North Tollway. The site is adjacent to the master-planned Craig Ranch community.

February 26, 2016

Restaurant Retail Texas

M&M Arranges Sale of Golden Corral in Austin

by Haisten Willis February 26, 2016

AUSTIN, TEXAS — Marcus & Millichap has arranged the sale of a 14,039-square-foot net-leased Golden Corral located at 12509 N. Lamar Blvd. in Austin. Douglas Diffie and Bruce Bentley III of Marcus & Millichap’s Austin office marketed the property on behalf of the seller, a limited liability company. The Mansour Group in Marcus & Millichap’s San Diego office represented the buyer, an out-of-state private investor. Built in 2010, Golden Corral is situated on 2.8 acres.

February 26, 2016

Industrial Texas

STREAM Capital Secures $8.4M Sale-Leaseback of Industrial Properties in Houston

by Haisten Willis February 26, 2016

HOUSTON — STREAM Capital Partners has executed the sale-leaseback of two industrial properties located in Houston. The properties are located at 1300 Gazin St. and 5633 Old Clinton Road. 1300 Gazin St. spans 95,435 square feet, while 5633 Old Clinton Road spans 45,135 square feet. MW Industries occupies both buildings utilizing a net lease. An unnamed REIT was the buyer.

February 26, 2016

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