NEW YORK CITY — Marcus & Millichap has brokered the sales of three multifamily properties in Brooklyn totaling $7 million. In the first transaction, a limited liability company purchased an eight-unit apartment building, located at 371 Irving Ave. in Brooklyn, for $2.2 million. Shaun Riney, Thomas Shihadeh and Daniel Greenblatt of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, and the buyer in the transaction. In the second deal, a limited liability company purchased a six-unit apartment building, located at 235 Wyckoff Ave. in Brooklyn, for $2 million. Riney, Shihadeh and Greenblatt represented the buyer and the seller, a limited liability company, in the deal. In the final transaction, a private investor acquired a three-unit apartment property, located at 701-703 Grand St. in Brooklyn, for $2.8 million. Riney, James Saros and Michael Salvatico of Marcus & Millichap’s Brooklyn office represented the buyer and the seller, a private investor, in the transaction.
WELLINGTON, FLA. — Federal Realty Investment Trust, a publicly traded REIT, has sold The Courtyard Shops at Wellington for $52.8 million. The grocery-anchored shopping center is located in Wellington, a town in Palm Beach County. Federal Realty acquired the 127,000-square-foot property in 2008 and since then has increased value for the property by activating formerly vacant spaces and outparcels. The shopping center’s tenant roster includes Publix, Leslie’s Swimming Pool Supply, Tijuana Flats, Bank of America and IHOP.
BUCKNER, KY. — Dahlem Realty Corp. has arranged Kroger’s acquisition of a 15.8-acre parcel in Buckner. Kroger plans to build a new 125,000-square-foot Kroger Marketplace at the site, located at the southeast corner of KY 393 and Commerce Parkway. The center will also feature a Kroger fuel station, two outparcels and a 3,000-square-foot Kroger liquor store, depending on pending state legislation. Dahlem Realty Corp., a Louisville-based brokerage, leasing and management services firm, represented Kroger in the acquisition.
PEARLAND, TEXAS — NAI Partners represented Tool-Flo Manufacturing in the acquisition of 15 acres to build an 80,000-square-foot metal machining facility and office located in the Spectrum Business Park in Pearland. Tool-Flo Manufacturing began operation in Houston in January 1978. The company serves the carbide threading and grooving market globally. Tool-Flo employs manufacturer’s representatives to cover the United States and to service the U.S. distributor network. The markets Tool-Flo serves include automotive, aerospace and medical and oil industry products and basic domestic manufacturers. Dan Boyles Jr. and Lane Morgan of NAI Partners represented the buyer, Tool-Flo Manufacturing, during the negations, while Justin Patchen of Urban Meridian Group represented the seller, Spectrum 86 Partners.
FORT WORTH, TEXAS — Lee & Associates has completed a lease transaction for a 197,600-square-foot space located at 5400 Alliance Gateway Freeway in Fort Worth. Trey Fricke and Reid Bassinger of Lee & Associates represented the landlord, Liberty Property Trust, and Gary Lindsey of Newmark Grubb Knight Frank represented the tenant.
CORNELIUS, N.C. — Capstone Apartment Partners has brokered the $5.2 million sale of a multifamily development site in Cornelius. The site is approved for a 320-unit development. Located at Catawba Avenue and Lawn Market Street, the site was part of Antiquity, a mixed-use community featuring a Harris Teeter store, seniors housing, retail, restaurants and single-family homes. The development site features a swimming pool, 30-acre park, arboretum and athletic fields. Antiquity LLC sold the site to SAG/LIV Development for $16,250 per unit. Austin Green, Alex McDermott, Andrew Klenk and Brian Ford of Capstone brokered the transaction.
FRISCO, TEXAS — Pierson Retail Advisors (PRA) has arranged the sale of Main Street Center, a 53,207-square-foot shopping center located in Frisco. The retail center is 98.8 percent leased to tenants including Subway, Pizza Hut, Kelly-Moore Paints, State Farm and Texas Family Fitness. PRA represented the seller, Bo Avery, Main FM 423 LLC. Bill Morris of Morris Capital Partners, along with Terry Syler of The Retail Connection, purchased the asset. The entire team at Pierson Retail Advisors in Dallas handled the sale.
MILFORD, CONN. — A New York-based manufacturing company has acquired a 14.4-acre land parcel at 539 Oronoque Road in Milford. Arrow Realty LLC sold the property for $2.6 million. The buyer plans to renovate and add on to an existing 23,250-square-foot building and construct at least two industrial buildings to accommodate its growing business. Alan Fischer of Fischer Real Estate Inc. represented the seller and buyer in the transaction.
ELGIN, ILL. — Darwin Realty has brokered the sale of a 42,000-square-foot industrial property for an undisclosed price in Elgin, approximately 40 miles northwest of Chicago. First Community Bank sold the building to Simplomatic Manufacturing, which is relocating from a site on Kostner Avenue in Chicago. The 42,000-square-foot building sits on 3.3 acres and features 7,500 square feet of office space, 20-foot clear heights, four exterior dock doors, two drive-in doors and expandable parking. Noel Liston and Brendan Sheahan of Darwin Realty represented First Community Bank in the transaction. Ed Brandt of Transwestern represented the buyer, Simplomatic.
MOUNT PROSPECT, ILL. — Entre Commercial Realty LLC has arranged a 51,211-square-foot lease of flex space in Mount Prospect, approximately 25 miles northwest of Chicago. Novomatic Americas Sales, a manufacturer and distributer of casino gaming machines, is leasing the property located at 1050 E. Business Center Drive. The lease term is for three years. The building will be the site of Novomatic’s corporate headquarters and features 15,000 square feet of office space. Mike DeSerto, Dan Benassi and Dan Jones of Entre Commercial represented the tenant in the transaction. Kelly Joyce and Jonathan Kohn of Colliers represented the landlord, Colony Capital Inc.