SAN FRANCISCO — The CBRE Strategic Partners U.S. Value 7 fund has acquired the 421-room Sofitel San Francisco Bay in Redwood City submarket of San Francisco for an undisclosed sum. The hotel is located at 223 Twin Dolphin Drive. The eight-story, full-service hotel sits adjacent to Highway 101. It includes more than 20,000 square feet of meeting space, a full-service restaurant, fitness center, and outdoor pool and event patio. The fund is exploring value-add options, which may include upgrading the unit interiors, creating additional meeting space and guestrooms, and expanding food and beverage service.
RENO, NEV. — A joint venture between ProEquity Realty Partners and CRG LLC has acquired a 76,800-square-foot-office building in Reno for $12.4 million. The building is located at 885 Trademark Drive and is fully leased by Mitel Communications. The JV plans to reposition the property. Morrissey Realty represented the seller, Dermondy Property Investments, in this transaction.
NEW YORK CITY — Eastern Consolidated has brokered the sale of two multifamily properties located in the Chelsea neighborhood of Manhattan. Skyland Management LLC sold the properties to 117 West 15th Street LLC and 119 West 15th Street LLC for $27 million, or $1,085 per square foot. Totaling 25,330 square feet, the properties include a five-story walk-up at 117 W. 15th St. and a six-story walk-up at 119 W. 15th St. The assets feature a total of 40 units in a mix of studio, one-, two- and three-bedroom layouts. Steven Zimmerman and Gabriel Saffioti of Eastern Consolidated represented the seller and buyer in the transaction.
RAYNHAM, MASS. — Calare Properties has acquired an industrial/flex building located at 480 Paramount Drive in Raynham for an undisclosed price. The 40,000-square-foot property is currently vacant. Situated on 7.5 acres and built in 2004, the facility features 20-foot clear ceiling heights, eight tailboard doors, loading docks and 111 surface-level parking spaces. Calare Properties expects the facility to be fully leased in the first half of 2016. CBRE/New England is handling leasing efforts for the property. The name of the seller was not released.
SPARTANBURG, S.C. — Colliers International has brokered the $3.5 million sale of a 133,240-square-foot industrial facility located at 2641 New Cut Road in Spartanburg. Reger Holdings LLC purchased the former Faurecia manufacturing facility from Faurecia Emissions Control Technologies LLC. Faurecia is a manufacturer of automotive seating, interior systems, automotive exteriors and emissions control technologies and is major supplier for BMW, which has a major presence in South Carolina. Colliers is the global real estate services provider for Faurecia, which has 238 production facilities and 38 research and development centers in 33 countries. Chuck Salley, Dave Mathews, Givens Stewart, Sam Myers, Garrett Scott and Brockton Hall of Colliers represented both the buyer and seller in the transaction. Reger Holdings has retained Colliers to lease and manage the facility.
CHAPEL HILL, N.C. — CBRE | Raleigh has arranged a 90,577-square-foot office lease at Carolina Square, a mixed-use development under construction in downtown Chapel Hill. Brad Corsmeier, Lee Clyburn, Charlie Coyne and Christina Coffey of CBRE | Raleigh represented the landlords, Northwood Ravin and Cousins Properties, in the lease deal. The new tenant is UNC Chapel Hill POP Center, a consortium of population research professionals and scholars sponsored by the University of North Carolina at Chapel Hill.
WAUKEGAN, ILL. — Berkadia has brokered the $7.4 million sale of a multifamily property in Waukegan, located about 47 miles north of Chicago. Westwood is a 132-unit apartment complex that was built in 1970 and is located at 2720-2732 Westwood Drive. The sales price reflects a price per unit of $56,061. Westwood was 95 percent occupied at the time of sale. The property features all two-bedroom floor plans. Community amenities include a playground, picnic area and laundry rooms in each building. VCP Westwood Apartments LLC sold the property to Haoyue Investments. Ralph DePasquale of Berkadia brokered the transaction.
BROOKLYN PARK, MINN. — Marcus & Millichap has arranged the $2.6 million sale of a 17,927-square-foot shopping center in Brooklyn Park, a northwestern suburb of Minneapolis. Jefferson Plaza is located at 8501-8511 Jefferson Lane North. Mike Marzinske, Matthew Hazelton, Adam Prins, Sean Doyle and Cory Villaume of Marcus & Millichap represented both parties in the transaction. Both the buyer and seller were private investors.
ST. PAUL, MINN. — Bloom Commercial Real Estate has arranged the sale of a 25,000-square-foot retail building in St. Paul. Salvation Army purchased the building for an undisclosed price and will occupy the space. M and J Investments LLC was the seller. The property is situated on two acres and is located at 1905 Suburban Ave. Josh Bloom and Tim Bloom of Bloom Commercial Real Estate represented the seller in the transaction. The Salvation Army was self-represented in the deal.
AURORA, COLO. — Jackson Square Properties has acquired the 220-unit Center Pointe East Apartments in Aurora for $31.1 million. The community is located at 15490 East Center Ave. It was built in 1999. Terrance Hunt, Shane Ozment, Jeff Hawks and Doug Andrews of ARA Newmark represented the seller, Lynd Company, in this transaction.