more_sales_and_leases

Marcus & Millichap Brokers $4.2M Sale of CVS-Anchored Strip Center in Georgia

by John Nelson September 28, 2015

DALLAS, GA. — Marcus & Millichap has brokered the $4.2 million sale of a 17,930-square-foot strip retail center located at the intersection of Seven Hills Boulevard and Cedarcrest Road in Dallas. CVS Health occupies roughly 70 percent of the center and has a 15-year corporate-guaranteed double-net lease for the store. Zach Taylor and Don McMinn of Marcus & Millichap’s Atlanta office represented the seller and procured the buyer, an all-cash 1031 investor, in the transaction. Taylor and McMinn are principals of Marcus & Millichap’s Taylor McMinn Team.

September 28, 2015

Multifamily Texas

M&M Arranges Sale of 26-Unit Apartment Building in Dallas

by Haisten Willis September 25, 2015

DALLAS — Marcus & Millichap has arranged the sale of Apollo Apartments, a 26-unit apartment property located in Dallas. John Barker of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, an individual/personal trust. Barker and Trey McGhin also secured the buyer, a private investor. Apollo Apartments is located at 404 E. 9th St. The property is a 26-unit asset located in the North Oak Cliff area of Dallas. Apollo Apartments includes eight two-bedroom units and 18 one-bedroom units. The property is located on a 26,250-square-foot lot with an on-site laundry facility.

September 25, 2015

New Jersey Northeast Retail

Delco Development Sells Willingboro Town Center South in New Jersey

by Amy Works September 25, 2015

WILLINGBORO, N.J. — Delco Development LLC has completed the sale of Willingboro Town Center South, a retail shopping center located at 4364 US 130 in Willingboro. Circle F Capital purchased the 29,246-square-foot property free and clear of existing debt for $7.8 million. Situated on four acres, the center is 93.7 percent leased to a variety of tenants including Ruby Tuesday, Rita’s, Bagel Café, Credit Union of New Jersey, Verizon, GNC, Subway, Hardee’s, Panda Garden, Hair Cuttery, Nail Splash and The Laundry Experience. Chris Munley and Jose Cruz of HFF represented the seller in the transaction.

September 25, 2015

Multifamily New York Northeast

Cushman & Wakefield Brokers Sale of 40-unit Apartment Building on Long Island for $6.3M

by Amy Works September 25, 2015

HEMPSTEAD, N.Y. — An undisclosed buyer has acquired an apartment building located at 148 Greenwich St. in Hempstead. The 40-unit asset was sold for $6.3 million, or $127 per square foot, in an all-cash transaction. Built in 2006, the 49,952-square-foot property features a mix of studio, one-bedroom and two-bedroom units. Each unit features updated kitchen appliances, finishes and a private balcony. On-site amenities include a meeting room and a storage room. Daniel Abbondandolo and Benjamin Efraimov of Cushman & Wakefield brokered the transaction. The name of the seller was not released.

September 25, 2015

Industrial Northeast Pennsylvania

Swope Lees Commercial Brokers Sale of 8,800 SF Industrial Property in Pennsylvania

by Amy Works September 25, 2015

WEST GOSHEN TOWNSHIP, PA. — Swope Lees Commercial Real Estate has brokered the sale of an industrial flex building located at 909 Camaro Run Drive in West Goshen Township for an undisclosed sum. The property features two loading docks, ample parking and space for a 3,000-square-foot expansion. Frank Lamarr of Equitrust LTD and Jim Lees of Swope Lees arranged the sale. The names of the seller and buyer were not released.

September 25, 2015

Multifamily New York Northeast

Marcus & Millichap Arranges $1.4M Sale of Brooklyn Apartment Building

by Amy Works September 25, 2015

NEW YORK CITY — Marcus & Millichap has brokered the sale of an apartment building located at 30 Huntington St. in Brooklyn. The six-unit property sold for $1.4 million. Shaun Riley, Derek Bestreich and Adam Lobel of Marcus & Millichap’s Brooklyn office represented the seller and buyer, both limited liability companies, in the transaction.

September 25, 2015

Florida Retail Southeast

HFF Arranges $14.4M Sale of Two Tampa-Area Shopping Centers

by John Nelson September 25, 2015

TAMPA, FLA. — HFF has arranged the $7.7 million sale of Northwest Plaza, a 46,904-square-foot shopping center located in Tampa’s Citrus Park area; and the $6.7 million sale of Suncoast Crossing, a 29,289-square-foot shopping center located in the Tampa suburb of Odessa. Brad Peterson and Whitaker Leonhardt of HFF represented the seller, Redstone Investments, in the transaction. Cole Credit Property Trust IV Inc. (CCPT IV) acquired Northwest Plaza and APTT Investments LLC acquired Suncoast Crossing in two separate transactions. VEREIT Inc. worked on behalf of CCPT IV in the purchase of Northwest Plaza. Both centers were fully occupied at the time of sale.

September 25, 2015

Industrial Texas

Lee & Associates Negotiates 71,250 SF Industrial Lease in San Antonio

by Haisten Willis September 24, 2015

SAN ANTONIO — Lee & Associates has completed a lease for a 71,250-square-foot industrial space located at 8154 Bracken Creek in San Antonio. Tom Walrich and Reed Parker of Lee & Associates’ Dallas/Fort Worth office represented the tenant, KGP Telecommunications Inc. Charles Bujan with ERA Colonial Real Estate represented the landlord, Bracken Creek Properties Ltd.

September 24, 2015

Retail Texas

CBRE|UCR Completes Lease for Eatzi’s Market & Bakery in Fort Worth

by Haisten Willis September 24, 2015

FORT WORTH, TEXAS — CBRE|UCR has completed a new retail lease in Fort Worth on behalf of Eatzi’s Market & Bakery. The eatery signed a lease for an end cap space at the University Park Village Shopping Center located one block south of I-30. CBRE|UCR’s Greg Pierce and Ryan May handled site selection for Eatzi’s and represented the restaurant in the lease transaction with Simon Property Group, the landlord, which was represented in-house by Greg Vlahos. The Dallas-based chain, which already has retail locations in Plano, Grapevine, Highland Park and Uptown/Oak Lawn, expects to open the new Fort Worth store in late 2016 or early 2017. The company opened its first retail location in 1996. Eatzi’s Market & Bakery is a European-style eatery with dishes including grilled meats and seafoods, sushi, sandwiches and salads, deli meats and cheeses, pastries, desserts, beer and wine.

September 24, 2015

Retail Texas

M&M Arranges Sale of 92,956 SF Retail Property in Midland

by Haisten Willis September 24, 2015

MIDLAND, TEXAS — Marcus & Millichap has arranged the sale of Town and Country Shopping Center, a 92,956-square-foot retail property located in Midland. Philip Levy of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a limited liability company. Levy also secured the buyer, a private investor. Town and Country Shopping Center is located on a 9.3-acre site at 1000 N. Midkiff Road. The property is 88 percent occupied and all leases are triple net. Furr’s Cafeteria, Dollar Tree and Planet Fitness anchor the center. Major retailers in the immediate area include Subway, Sonic, McDonald’s, Hastings, Payless ShoeSource, Dollar General, Gold’s Gym, Lack’s Furniture, Comet Cleaners, Allstate Insurance, Quiznos and Advance Auto Parts.

September 24, 2015

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