AUSTIN, TEXAS — CBRE Investment Properties has arranged the sale of Westlake Place, a 60,338-square-foot, multi-tenant office building in Austin. Maryland-based Moore & Associates purchased the asset from a California-based partnership for an undisclosed price. Westlake Place is a five-story building located at 1515 S. Capital of Texas Highway in the Southwest Austin submarket. Tenants at the Class B property, which is 94 percent occupied, include Sotera Defense Solutions, Frontier & Associates and Vertex Software Corp. Walter Saad, Cathy Nabours and Logan Reichle of CBRE’s Austin office represented the seller.
HOUSTON — Baker Katz has arranged a 1,200-square-foot lease on behalf of Scout & Molly’s boutique in the Plaza in the Park shopping center in Houston. The shopping center is located at the intersection of Buffalo Speedway and Westpark Drive. The boutique features upscale women’s clothing and offers original, rustic chic designs. The store’s opening is slated for January 2016. Founded in 2002 by Lisa Kornstein, Scout & Molly’s has grown to more than 10 locations in the United States. Baker Katz broker Lunden McGill represented Scout & Molly’s in the lease transaction. Edens’ Bruce Wallace represented the landlord.
ATLANTA — The Urbana Varro group of companies has purchased the Artmore Hotel, an independent boutique hotel located at 1302 W. Peachtree St. in Midtown Atlanta. The buyer, which includes a national commercial real estate investment fund and a development and property management firm, purchased the asset from Jamestown for an undisclosed price. Originally built as a luxury apartment building in 1924, the Artmore Hotel is located within walking distance of Center Stage, Woodruff Arts Center, Savannah College of Art and Design and the Fox Theatre.
FORT LAUDERDALE, FLA. — JLL has secured a 52,683-square-foot lease transaction at Tower 101, a newly renovated, 21-story office tower located at 101 N.E. 3rd Ave. in downtown Fort Lauderdale. The tenant, Uniforms Direct, is relocating its corporate headquarters from Plantation, Fla., to Tower 101. Uniforms Direct will be the building’s largest tenant and will bring roughly 200 employees to occupy Tower 101’s penthouse level, the 20th floor and half of the 16th and 19th floors. Existing tenants at Tower 101 include Kemet Corp., Greater Fort Lauderdale Convention & Visitors Bureau, the city of Fort Lauderdale and Advantage Opco LLC. Alice Lucia Jackson and Brady Titcomb of JLL represented the landlord, Banyan Street Capital, in the lease transaction. Matthew Cheezem and Zach Wendelin of Cresa represented Uniforms Direct. The transaction is the largest office lease completed in downtown Fort Lauderdale year-to-date.
NEW YORK CITY — Cushman & Wakefield has brokered the sale of an office building located at 1713 Eighth Ave. in Brooklyn’s Greenwood Heights neighborhood. The four-story, 12,800-square-foot building sold for $5.3 million, or $418 per square foot, in an all-cash transaction. The property consists of 47 small units set up as creative artist or office spaces. Aaron Warkov and Richard Velotta of Cushman & Wakefield handled the transaction. The names of the buyer and seller were not disclosed.
WEST NEW YORK, PATERSON, LITTLE FERRY AND WEST ORANGE, N.J. — The Goldstein Group has negotiated leases for four new 7-Eleven locations in New Jersey. In West New York, 7-Eleven signed a lease for 2,800 square feet of space on Park Avenue. Lew Finkelstein and Matthew Flath of The Goldstein Group represented the tenant and the landlord, Arnone Family, in the transaction. In Paterson, the company inked a deal for 2,750 square feet of space on Main Street. Finkelstein and Flath represented 7-Eleven and the landlord, ACHS Management, in the deal. In Little Ferry, 7-Eleven signed a lease for a 3,000-square-foot space on Route 46. Finkelstein and CJ Huter of The Goldstein Group represented the tenant and the landlord, 200 Route 46 West LLC, in the transaction. In the final deal, 7-Eleven opened a 2,700-square-foot store on Valley Road in West Orange. Finkelstein and Flath represented the tenant and the landlord, HRG Shaw LLC, in the transaction.
NEW YORK CITY — Marcus & Millichap has arranged the sale of an apartment building, located at 608 Fifth Ave. in Brooklyn. The seven-unit multifamily property sold for $3.9 million. The buyer plans to renovate and modernize the property, which features bay windows, private outdoor patios, wrap-around garden space and a private garage. Derek Bestreich, Lucien Sproviero and Adam Lobel of Marcus & Millichap’s Brooklyn office represented the seller, an individual/personal trust, and secured the buyer, a limited liability company, in the transaction.
INDIANAPOLIS, GREENWOOD AND CARMEL, IND. — The Boulder Group has brokered the sale of a single-tenant, net-leased Jiffy Lube portfolio consisting of seven properties in metro Indianapolis. A high-net-worth foreign investor acquired the portfolio for $6.6 million from a Midwest-based private partnership. The properties are 8175 Allisonville Road, 7765 US 31 South, 5444 W. 38th St., 7220 W. 10th St. and 7969 Pendleton Pike in Indianapolis; 1495 Keystone Way in Carmel; and 532 N. State Road 135 in Greenwood. All of the Jiffy Lube leases have more than seven years remaining and expire in November 2022. The leases, which are absolute triple net, also feature three five-year renewal options with rental escalations in each. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction.
WAUWATOSA, WIS. — DTZ has brokered the sale of a distribution center located at 1400 N. 113th St. in Wauwatosa. Wangard Investment Real Estate acquired the 196,000-square-foot facility for $4.8 million from 1400 North LLC. The divisible facility features climate-controlled warehouse space, cooler space, docks, drive-thru bays and rail access. Kevin Barry and David Buckley of Milwaukee-based DTZ Barry represented the buyer in the transaction.
HILLIARD, OHIO, AND ST. LOUIS — Gershman Commercial Real Estate has brokered two sales totaling 5,126 square feet in Ohio and Missouri. In the first transaction, Ohio Lube LLC, doing business as Ohio Jiff LLC (Hemco Properties LLC), sold a 2,618-square-foot retail property, located at 3840 Main St. in Hilliard, to Davis & Meyer Ltd. for an undisclosed price. Stephen Symsack and Roger Zigler of Gershman Commercial represented the seller in the transaction. In the second deal, Brian Levine and Jaime Levin acquired 2,508 square feet of multifamily space, located at 4173 Humphrey St. in St. Louis. William Allemann sold the property for an undisclosed price. Lily Seymour of Gershman Commercial represented the seller in the transaction. Additional details of the transactions were not released.