more_sales_and_leases

M&M Arranges Sale of 60-Room Hospitality Property in East Texas

by Haisten Willis September 17, 2015

PALESTINE, TEXAS — Marcus & Millichap has arranged the sale of La Quinta Inn & Suites Palestine, a 60-room hospitality property located in Palestine. Chris Gomes and Skyler Cooper of Marcus & Millichap’s Dallas office, along with Allan Miller of the firm’s San Antonio office, marketed the property on behalf of the seller, a private investor. Gomes, Cooper and Miller also procured the buyer, a private investor. La Quinta Inn & Suites Palestine is located at 3000 S. Loop 256, just west of Palestine Regional Medical Center. The property is a 60-room, interior corridor, midscale hotel situated on approximately three acres. The three-story hotel was built in 2007 with a wood frame and stucco exterior. The property features a fitness center, a 324-square-foot meeting room, outdoor pool with spa and breakfast/dining area. Guest rooms offer amenities such as a pillow top bed, microwave, refrigerator and work desk.

September 17, 2015

Prudential Real Estate Investors Buys Residential Tower in Cambridge

by Amy Works September 17, 2015

CAMBRIDGE, MASS. — Prudential Real Estate Investors has acquired Twenty|20, a newly developed residential tower in Cambridge. Canyon Partners Real Estate LLC, through its Canyon-Johnson Urban Funds, sold the property for an undisclosed price. Built to LEED Silver specifications, the 335-unit apartment tower is part of the NorthPoint development site, a 42-acre master-planned development project transforming a former rail yard into a mixed-use, transit-oriented community. Apartments include high-end finishes, energy-efficient appliances and oversized windows. Common area amenities include a rooftop terrace with panoramic views, a 3,000-square-foot fitness center and yoga sundeck, an open-air courtyard and an indoor basketball court.

September 17, 2015

Massachusetts Northeast Office

The Winhall Companies Acquires Two Liberty Square in Boston

by Amy Works September 17, 2015

BOSTON — An affiliate of The Winhall Companies has acquired Two Liberty Square, a 67,609-square-foot office building in Boston. Originally constructed in 1913, the 11-story, Beaux Arts-style building is 82 percent occupied by tenants that include Zipcar, Humana, Arthur J. Gallagher & Co., Copyright Clearance Center and Brill. CenterSquare Investment Management, on behalf of one of its institutional clients, sold the property for an undisclosed price. Coleman Benedict and Ben Sayles of HFF represented the seller in the sale. Additionally, Lauren O’Neil of HFF arranged a 10-year, fixed-rate acquisition loan through SunLife for the buyer.

September 17, 2015

Healthcare New Jersey Northeast

Colliers Arranges Sale of 22,744 SF Medical Office building in New Jersey

by Amy Works September 17, 2015

MOUNT LAUREL, N.J. — An affiliate of Princeton, N.J.-based IBIS Plaza has acquired Larchmont I, a medical office building located at 204 Ark Road in Mount Laurel, for an undisclosed price. Situated on 1.8 acres, the building was constructed in 1981. The buyer plans to renovate the common areas and two of the vacant suites for its IBIS business. Evan Zweben and Marc Islander of Colliers International represented the undisclosed seller in the transaction.

September 17, 2015

Connecticut Healthcare Northeast

O,R&L Commercial Brokers 13,517 SF Lease in Guilford, Connecticut

by Amy Works September 17, 2015

GUILFORD, CONN. — O,R&L Commercial has brokered the lease of 13,517 square feet of medical office space to Guilford Surgery Center LLC (GSC). The space is located at 246 Goose Lane within Innovation Park. GSC is a collaboration between local surgeons and Merritt Healthcare of White Plains, N.Y. The new entity plans to construct an ambulatory surgery center for patients on the site. O,R&L Commercial represented the tenant, while Dow Realty represented the undisclosed landlord in the lease transaction.

September 17, 2015

Industrial Nevada Western

Cintas Corp. Leases 20,000 SF of Distribution Space in Reno

by Nellie Day September 17, 2015

RENO, NEV. — Cintas Corp. has leased 20,000 square feet of distribution space at the Capital Commerce Center in Reno. The space is located at 1312 Capital Blvd. Cintas supplies corporate identity uniform programs, among other things. J. Michael Hoeck, Dave Simonsen, Steve Kucera and Michael Nevis of the NAI Alliance Industrial Properties Group represented the landlord in the transaction.

September 17, 2015

Alabama Industrial Southeast

Strategic Storage Trust II Acquires Self Storage Facility in Alabama for $8M

by John Nelson September 17, 2015

FOLEY, ALA. — Strategic Storage Trust II Inc., a non-traded self storage REIT, has purchased a 1,050-unit self storage facility located at 8141 Highway 59 S. in Foley for $8 million. The property spans 142,000 square feet and features 78 boat/RV spaces, climate controlled units and grade level drive up. Built in 1985 and renovated in 1996 and 2006, the asset was 91 percent occupied at the time of sale. The REIT plans to make capital improvements to the 10-acre facility, including new roofs and drive areas. Strategic Storage Trust’s portfolio includes 18,000 self storage units spanning approximately 2 million square feet.

September 17, 2015

Georgia Retail Southeast

Marcus & Millichap Arranges $3.7M Sale of Strip Center in Metro Atlanta

by John Nelson September 17, 2015

SUWANEE, GA. — Marcus & Millichap has brokered the $3.7 million sale of Moore Road Village, a 20,000-square-foot retail strip center located at 991 Peachtree Industrial Blvd. in Suwanee, a northeast suburb of Atlanta. Built in 2008, the property’s tenant roster includes FedEx Office, American Body Works, T-Mobile and Riverside Pizza. Craig Johnson and Tim Giambrone of Marcus & Millichap’s Atlanta office represented the seller, a private investor, in the transaction. Johnson and Giambrone also secured the buyer, which was also a private investor.

September 17, 2015

Illinois Industrial Midwest

CBRE Brokers Sale of 3.26-Acre Industrial Site in Mount Prospect, Ill.

by Christina Cannon September 16, 2015

MOUNT PROSPECT, ILL. — CBRE has arranged the sale of 3.26 acres of industrial-zoned land in Mount Prospect, a northwest Chicago suburb, for an undisclosed price. The buyer was Whimsy Intermodal, a drayage company, and the seller was Park Place Partners LLC. The property, located at 2210 South Busse Road, will provide Whimsy Intermodal with 100 additional trailer parking spaces and is near the Elmhurst Road and I-90 interchange. Jack Brenan, Mike Sedjo and John Hamilton of CBRE represented both the buyer and seller in the transaction.

September 16, 2015

Indiana Midwest Mixed-Use Uncategorized

Bradley Co. Brokers 5,700 SF of Leases in Fort Wayne

by Christina Cannon September 16, 2015

FORT WAYNE, IND. — Bradley Co. arranged a combination of office, industrial and retail leases in August totaling approximately 5,700 square feet. Dan Dickey of Bradley Co. represented landlord J.D. Ventures in the lease of a 3,000-square-foot industrial space located at 1905 Production Road in Fort Wayne. Tyler Binkley of Bradley Co. represented the tenant, IASA Group LLC. Anna Bowman of Bradley Co. represented the tenant, Stevens International, in its lease of a 1,999-square-foot office space located at 6527 Constitution Drive in Fort Wayne. Binkley and Bowman also represented the landlord, American Way LLC, in the lease of a 686-square-foot retail space located in Colony Shoppes at 6431 Bluffton Road in Fort Wayne. Binkley also represented the tenant, Boost Mobile, in the transaction.

September 16, 2015

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