WARRENVILLE, ILL. — Brown Commercial Group has arranged the sale of a 39,375-square-foot industrial building located on Youghal Road in Warrenville, about 30 miles west of Chicago. The sales price was not disclosed. The D/C Group purchased the property to use as an ancillary location to better serve its customers. The warehouse and distribution company is headquartered in Elk Grove Village, Ill. Mike Antonelli of Brown Commercial represented the buyer in the sales transaction. Mike Magliano of Cushman & Wakefield represented the seller, a private investor.
HUMBLE, TEXAS — Lee & Associates has negotiated a 112,021-square-foot industrial lease at 8575 Volta Road in Humble, a northern suburb of Houston. Thomas Leger, Robert McGee and Mike Spears of Lee & Associates represented the landlord, Cypressbrook Huntington Volta LLC, in the lease negotiations. Grady Tibbs of Brazos ML represented the tenant, Flexo Converters USA Inc., a manufacturer of custom-designed gift and shopping bags.
NEW YORK CITY — BEB Capital has purchased a multifamily building located at 238 E. 106th St. in Manhattan’s East Harlem section. 106th Street Realty Development Corp. sold the eight-story property for $14.2 million. Constructed in 2016, the 18,860-square-foot building features 29 free-market apartments and nine parking spaces. On-site amenities include a virtual doorman with video intercom, central laundry and terraces on each unit. Abie Kassin and David Benharouch of Meridian Capital Group represented the seller and procured the buyer in the deal. Additionally, Bryan Kallenberg and Brian Flax, also of Meridian, negotiated $8.5 million in acquisition financing for the purchase.
DUNMORE, PA. — JLL has brokered the sale of Key Market Distribution Center, a two-building industrial portfolio located at 1026-28 Reeves St. in Dunmore. An affiliate of Equilibrium Equities sold the portfolio to The Silverman Group for $14.3 million. Situated on 21.1 acres, the 445,751-square-foot portfolio offers units ranging in size from 13,000 square feet to 210,000 square feet. At the time of sale, the property was fully occupied by a variety of tenants. John Plower, James Galbally, Brett Grifo, Chad Orcutt and Jeff Lockard of JLL represented the seller in the transaction.
NEW YORK CITY — Cushman & Wakefield has brokered the sale of a development site located at 11-35 31st Drive in the Astoria neighborhood of Queens. Blue Mountain Capital purchased the site from Kenneth Trading Corp. for $8.2 million, or $241 per buildable square foot. The property allows for a maximum of 33,982 buildable square feet for residential development. A 10,000-square-foot warehouse building, which is net leased through March 2019, is currently on the site. Stephen Preuss and Andreas Efthysmiou of Cushman & Wakefield represented the seller in the deal.
NEW YORK CITY — Westbridge Realty has arranged the sale of a vacant lot located at 187 Cook St. in Brooklyn’s Williamsburg neighborhood. Nehalkumar Gandhi, a New Jersey-based developer, purchased a 99-year ground lease at the site for $1.3 million from Loketch Group and Joyland Group. The developer plans to build a more than 26,000-square-foot, 92-key hotel on the site. The brand of the hotel has not been announced. Hen Vaknin of Westbridge Realty represented the buyer and seller in the off-market transaction.
NORWALK, CONN. — FactSet, a global provider of integrated financial information, analytical applications and services, has signed a lease for office space at 45 Glover Avenue, a 264,500-square-foot Class A office building located in Norwalk. The company will relocate its global headquarters from Merritt 7 Office Complex in Norwalk to 173,000 square feet at the building. Building and Land Technology (BLT) owns the property, which is now fully leased. FactSet is slated to move into the new space in the last quarter of 2019. Tim Rorick and Torey Walsh of Newmark Knight Frank represented BLT, while Joseph Cabrera and Michael Gordon of Colliers International represented the tenant in the deal.
HOUSTON — NAI Partners has negotiated an industrial lease at 8301 W. Monroe Road near William P. Hobby Airport in southeast Houston. The tenant, IPS Pump Services Inc., will occupy 22,719 square feet. Jake Wilkinson and Darren O’Conor of NAI Partners represented the landlord, Lawrence Investments LLC, in the lease negotiations.
NEWPORT BEACH, CALIF. — A joint venture between Bixby Land Co. and institutional partner AXA Investment Managers has planned to acquire approximately $400 million of core industrial properties in the Western United States. Bixby contributed an initial portfolio of seed assets to the venture as the partners seek to expand the relationship through the pursuit of additional acquisition opportunities. Bixby Land Co. currently owns more than 6 million square feet of office and industrial space in the West. The new venture will pursue middle-market properties, preferably one-off assets, between 100,000 square feet and 400,000 square feet in markets from San Diego to Seattle and as far east as Dallas. HFF’s Kevin MacKenzie, Michael Joseph, Doug Bond, Tom Mizo and Ryan Megowan represented Bixby in the joint venture arrangement.
THORNTON, COLO. — Greystar Real Estate Partners has purchased the 336-unit Waterford Place apartment complex in Thornton for an undisclosed sum. The community is located at 2801 E. 120th Ave. Waterford Place was built in 1998. Greystar’s value-add strategy will focus on renovating all units and common areas of the asset. Unit updates will include the addition of stainless steel appliances, extended plank flooring, quartz countertops, and new lighting and hardware packages. Renovations to the common areas will feature enhancements to the pool, clubhouse, fitness center, BBQ area, dog park and sport/tennis court.