TYSONS CORNER, VA. — A joint venture between Rubenstein Partners LP and Griffith Properties has purchased The Rappahannock Building, a six-story, Class A office building located at 1550 Westbranch Drive in Tysons Corner. The joint venture purchased the 152,000-square-foot office building from Corporate Office Properties Trust for $27.8 million. Built in 2001, the property has been fully leased to The MITRE Corp. since it was built, but the company plans to move to another office campus in Tysons Corner in 2016. Once vacated, Rubenstein and Griffith plan to renovate the office building to attract new tenants. Malcolm Schweiker of CBRE represented the joint venture in the transaction. Schweiker will also handle leasing the office building.
ATHENS, GA. — Franklin Street Real Estate Services has brokered the sale of Athens Plaza, a 119,633-square-foot shopping center located at 474 North Ave. in Athens. Built in 1972, the property is anchored by a Piggly Wiggly. Mac McCall, John Tennant and Bryan Belk of Franklin Street’s Atlanta office represented the seller, MB REO-GA RETAIL LLC, in the transaction. Cideco Development Co. Inc. purchased the property for an undisclosed price.
NEW YORK CITY — KZA Realty Group has brokered two sales transactions totaling $4.7 million in the Bronx. In the first purchase, The Transit Worker’s Union acquired a three-story, 34,456-square-foot building located at 2475 Westchester Ave. for $3 million. The buyer will use the property to provide counseling on affordable housing, healthcare services, representation and related service to Transit Worker’s Union members. Michael Gilbert of Gilco Realty represented the seller, 437 East 165th Street Realty Corp., in the transaction. In the second deal, Azimuth Development Group purchased a 6,691-square-foot licensed parking lot for $1.7 million. The buyer plans to use the lot as a development site. David Simone of Cushman & Wakefield represented the seller, 1164 Wheeler Avenue LLC, in the transaction. Kathy Zamechansky of KZA Realty Group represented the buyers in both deals.
NEW YORK CITY — Marcus & Millichap has arranged the sale of a multifamily property located at 910 Prospect Place in Brooklyn. The eight-unit property sold for $2.5 million. Shaun Riney, Derek Bestreich and Lucien Sproviero of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, and the buyer, a developer, in the transaction.
MIDDLETOWN, PA. — The Clark Group has signed a 103,217-square-foot industrial lease at 400 Capital Lane, located within Capital Logistics Center in Middletown. The logistics provider for print media leased the space for a term of three years and four months and plans to use the facility to store publications. The 242,824-square-foot facility, which is owned by Woodmont Industrial Partners and AEW Capital Management, features 30 dock doors, three drive-in docks, T5 lighting, a six-inch reinforced concrete floor and a standing seam metal roof. Michael Hess, Patrick Lafferty and Bart Anderson of CBRE Harrisburg represented The Clark Group in the transaction.
SACRAMENTO, CALIF. — Clevron Commercial has closed escrow on three sites located in Sacramento, Fairfield and Danville. The company plans to develop new retail centers on each site, with groundbreakings set to occur in the next 30 to 40 days. The properties include 1229 Howe Ave., a former TGI Fridays, in Sacramento; a vacant lot at 2700 N. Texas Ave. in Fairfield; and a site at the intersection of Railroad Avenue and Church Street in Danville. Ariel Fox at Retail West is handling leasing for the Sacramento and Danville locations, while Adria Giacomelli of Newmark Cornish and Carey will handle leasing for the Fairfield project. Clevron Commercial is a co-venture of Urban West, Tate Diversified Development and Pegasus Development.
LOS ANGELES — 11305 West Moorpark LLC has purchased a 9,689-square-foot retail center in Los Angeles for $4.1 million. The center is located at 5581 Huntington Drive North. It is situated on 25,807 square feet of land. Andrew Awaida of Re/Max Optima represented the buyer. Randy Stevenson, Stephen M. Baker and Kris Hons of Stevenson Real Estate Services represented the seller, Sandale LLC.
WILSONVILLE, ORE. — McLellan Estate Co. has purchased a 76,000-square-foot industrial project in Wilsonville for an undisclosed sum. The project is located at 27929 SW 95th Ave. The two contiguous buildings are situated on about four acres of land at the northwest corner of Boeckman Road & SW 95th Avenue. It is currently 85 percent occupied by Amcor Packaging, Nitroheat LLC and Pack Edge Development. Scott Finney and Nick Chessar of Norris & Stevens represented both McLellan and the seller, Rippey Investments, in this transaction. Norris & Stevens will continue to handle both the leasing and facilities management for the project.
HOUSTON — NAI Partners has arranged lease negotiations for 18,442 square feet of new industrial space at 5175 Ashley Court in Houston. Chris Kugle of NAI Partners represented the tenant, Smart Sensors Inc., a manufacturer of temperature sensors, during the negotiations, while John Ferruzzo represented the landlord, Marwell Properties.
RICHARDSON, TEXAS — Q Real Estate Holdings, the real estate affiliate of Fort Worth-based Q Investments, has purchased 2400 N. Glenville in Richardson. The property is now open for tours and new leases for the first time in its history. It opened in 1989 as a build-to-suit for Verizon, then known as MCI, and is located in the heart of Galatyn Park Urban Village, a mixed-use development in Richardson’s Telecom Corridor. Verizon will remain in the property until the fourth quarter of 2016 when Q Real Estate plans to begin renovations to reposition the property for new tenants. DTZ’s Trey Smith and Clint Madison will oversee leasing services for the 388,600-square-foot facility. Comprising four interconnected 100,000-square-foot buildings, 2400 N. Glenville is one of the largest contiguous blocks of available office space in the Dallas market.