WOODSIDE, N.Y. — Marcus & Millichap has brokered the sale of an apartment building located at 37-35 64th St. in Woodside. The six-unit property sold for $1.3 million. Shaun Riney, Michael Salvatico and Aryaan Azarbarzin of Marcus & Millichap’s Brooklyn office represented the seller, an individual/private trust, and the buyer, a limited liability company, in the transaction.
MADISON, WIS. — Marcus & Millichap has brokered the $10 million sale of a 94,120-square-foot retail building occupied by Shopko on a triple-net lease basis in Madison. The building, originally built in 1988, was renovated in 2004. The department store is located at 2201 Zeier Road and is situated on approximately eight acres. Nearby retailers include Kohl’s, DSW Shoe Warehouse, Burlington Coat Factory and Payless Shoes. Glen Kunofsky of Marcus & Millichap represented the seller in the transaction. Jeff Rowlett and Jeremy Osting of Marcus & Millichap procured the buyer, a private investor.
CLARKSTON, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of a 105,717-square-foot office building in Clarkston, approximately 40 miles north of Detroit, for $6.6 million. Mid-Oakland Medical Center is located at 6770 Dixie Highway and was purchased by Esox Exploration LLC. The property is a three-story, Class B building that features an on-site pharmacy. The facility was built in 1995. Tenants include McLaren Health Care Corp., DaVita Healthcare Partners Inc. and Trinity Health. Rich Deptula of Friedman represented the seller, a CMBS special servicer, in the transaction. Friedman also represented the buyer in the transaction.
CHICAGO — CBRE has arranged a 40,254-square-feet office lease for Harrison Street Real Estate Capital LLC, which will occupy a 52-story tower currently under construction in Chicago. Harrison Street will relocate its headquarters from 71 S. Wacker Drive to River Point, located at 444 W. Lake St. The developer, Ivanhoe Cambridge & Hines, will deliver the building in 2016. Harrison Street will nearly double its current footprint when it begins occupying the space in the first quarter of 2017. Cal Wessman and Mark Cassata of CBRE represented the tenant in the transaction. Greg Van Schaack and Laura Hines of Hines represented Ivanhoe Cambridge & Hines.
TAMPA, FLA. — Marcus & Millichap has arranged the $14.3 million sale of Garden Isles Apartment Homes, a 300-unit apartment complex located at 6919 Bonair Drive in Tampa. Blue Rock Partners LLC purchased the multifamily community from Garden Isles Management Inc. for roughly $47,700 per unit. Built in 1971, the property’s community amenities include gated access, covered parking spaces, an onsite leasing office, 12 laundry facilities, fitness center, two swimming pools and a dog park. Frank Carriera and Michael Regan of Marcus & Millichap’s Tampa office represented the seller and procured the buyer.
CONYERS, GA. — Atlanta-based Reliant Real Estate Partners has brokered the $9.9 million sale of Conyers Logistics Center, a 201,403-square foot distribution facility in Conyers. The property is located at 2107 Eastview Parkway. Conyers Logistics Center was 100 percent leased at the time of sale to Cellofoam North America and Pioneer Plastics. An affiliate of STAG Industrial Inc. purchased the distribution center from Kansas City-based Block Real Estate Funds. Bob Burdell and J.R. Wright of Reliant Real Estate Partners represented both the buyer and seller in the transaction.
ATLANTA — Avison Young has brokered the $4.4 million sale of a 63,000-square-foot office building at 524 W. Peachtree St. in Midtown Atlanta. The new owner, 524 Peach LLC, plans to convert the office building into a 175-room, upper midscale hotel. Originally built in 1928, the new eight-story hotel is expected to be operational in the summer of 2017. Matt Tritschler, Phil Barry and Hilton Barry of Avison Young represented the sellers, Marconi Park LLC and Quarry LLC, in the transaction.
LOS ANGELES — Harridge Development Group has acquired Wilshire Galleria, a 138,000-square-foot retail building located at 3240 Wilshire Blvd. in Los Angeles’ Koreatown district. NEWKOA LLC sold the property for an undisclosed price. Situated on 2.1 acres, the five-story former I-Magnin & Co. building is located on the southeast corner of Wilshire Boulevard and New Hampshire Avenue. Johnny Choi of CBRE, along with Curtis Palmer and Anthony Muhlstein of ARA Newmark, represented the buyer in the transaction.
SADDLE RIVER, N.J. — Alpharetta, Ga.-based MedAssets Inc. has signed a 105,959-square-foot full-building lease at Saddle River Executive Center. The Class A office space is located at 1 Route 17 in Saddle River. William McCaffery, Marc Krieger and Steven Getzeiler of Avison Young represented the landlord, Madison Core Property Fund, while John Flack and James Scancarella of Cresa represented the tenant in the transaction.
COLCHESTER, VT. — Doug Nedde of Nedde Real Estate, along with Tracy Cresta, has acquired a 62,000-square-foot office and warehouse facility located at 784 Hercules Drive in Colchester. The vacant building, which was the former Reinhart Food Service building, sold for an undisclosed price. Planned Parenthood of Northern New England has leased the office portion of the property, leaving 47,000 square feet of warehouse space available for lease. The name of the seller was not released.
