PALISADES PARK, N.J. — Marcus & Millichap has negotiated the sale of an office building located at 111 Grand Ave. in Palisades Park. An undisclosed seller sold the building for $3 million. The 20,000-square-foot building features 14 separate suites, ranging in size from 186 square feet to 6,000 square feet. At the time of sale, the property was 33 percent occupied. Fahri Ozturk and Tyler Van Wagoner of Marcus & Millichap represented the seller. The name of the buyer was not released.
COLUMBUS, OHIO — EFL Expo Freight has signed a 70,955-square-foot industrial lease at Creekside Industrial Center in Columbus. The company will occupy the space in the 155,866-square-foot CreekSide XVI building, one of two speculative facilities nearing completion at the center. The building features 32-foot clear heights. Mike Spencer of Lee & Associates represented EFL Expo Freight in the lease transaction. Phil Rasey of The Pizzuti Cos. represented ownership, a partnership between Pizzuti and USAA Real Estate.
DOWNERS GROVE, ILL. — NEC Display Solutions of America has signed a 47,714-square-foot office lease in Downers Grove, a western suburb of Chicago. The property is located at 3250 Lacey Road. Included in the new headquarters will be a 6,000-square-foot technology showcase and demo facility for client engagement, as well as a 5,000-square-foot research and development lab. The designer and provider of LCD displays is moving from a 40,000-square-foot office in Itasca, Ill. Chad Freese, Paul Diederich, Matthew Frazee and Jon Springer of CBRE represented NEC in the lease transaction. Phil Sheridan of CBRE represented the owner, Hamilton Partners.
SCHAUMBURG, ILL. — Baum Realty Group LLC has arranged the sale of a 4.8-acre property net leased to a Hyundai car dealership in Schaumburg for $6.3 million. The property is located at 1020 E. Golf Road near Woodfield Mall. Patrick Forkin represented the seller, a local investor who had owned the property for over 30 years.
COLORADO SPRINGS, COLO. — ARA Newmark has arranged the sale of the Lookout on Cragmor, a 151-bed community located near the University of Colorado-Colorado Springs. Newsome Development sold the Lookout on Cragmor to Student Quarters for an undisclosed price. Ryan Lang, Brandon Buell and Trent Houchin of ARA Newmark represented the seller.
MARLBOROUGH, MASS. — R.W. Holmes Realty has arranged the sale of Mount Royal Office Park, located at the interchange of Route 20 and Interstate 495 in Marlborough. Mount Royal Associates II, an entity of Haynes Management, sold the three-building property to CB Equities Mt Royal for $8.5 million. The buyer plans to rename the property to Knowledge Park @ Marlborough and renovate the 160,000-square-foot property with a new exterior front façade, new signage, an updated fitness center with showers and a common area with a club room. Additionally, the buyer will occupy a portion of the building and plans to lease out suites ranging from 1,600 square feet to 20,000 square feet. Craig Johnson, Garry Holmes and Jim Bartholomew of R.W. Holmes represented the seller and procured the buyer in the transaction.
BELMONT, MASS. — NAI Hunneman has brokered the sale of a multifamily community located at 61-63 Moraine St. in Belmont. CMS Moraine sold the property to an undisclosed buyer for $8 million. Constructed in 1970, the community features 24 apartments in a mix of one- and two-bedroom units. Carl Christie and Dan McGee of NAI Hunneman represented the seller and procured the buyer in the deal.
PERTH AMBOY, N.J. — Marcus & Millichap has facilitated the sale of a retail property located at 599 New Brunswick Ave. in Perth Amboy. An undisclosed developer sold the building to an undisclosed buyer for $2.6 million. Family Dollar and All Brands Furniture occupy the 12,050-square-foot building. Ben Sgambati, Alan Cafiero and David Cafiero of Marcus & Millichap represented the seller in the transaction.
WORCESTER, MASS. — Worcester-based Kelleher & Sadowsky has arranged the sale of a building, located at 695-701 Main St. in Worcester. The Church of Ebenezer acquired the 41,050-square-foot building for an undisclosed price. The building was a former People in Peril (PIP) Shelter. David Cohen and Paul Matt of Kelleher & Sadowsky brokered the deal.
SPRING, TEXAS — EDGE Capital Markets has negotiated the sale of Spring Park Village, a 76,409-square-foot retail center located at 19764 Interstate 45 in the Houston metro of Spring. The center was 100 percent leased at the time of sale to tenants such as Conn’s Home Plus, Sears Outlet, Starbucks, AT&T and Texas State Optical. Kevin Holland of EDGE represented the seller, MetroNational, in the transaction. Other terms of sale were not released.
