HOUSTON — JLL has negotiated the sale and leaseback of a 133,480-square-foot distribution center located at 7350 Langfield Road in Houston. The property features 34 dock-high doors, 30-foot clear heights, outside storage and access to U.S. Highway 290 and Beltway 8. Denver-based Industrial Property Trust purchased the property and will leaseback all of the space to T&L Distributing, a Houston-based distributor of flooring materials. Dustin Volz, Kevin McConn, Zane Marcell and Grant Matthews led the JLL team on the transaction.
HARRISBURG, PA. — Marcus & Millichap has arranged the sale of Eastridge Apartments, a multifamily property located at 102 Worchester Ave. in Harrisburg. A limited liability company sold the property to a private partnership in a 1031 exchange for $6.9 million. Situated on 7 acres, the property features 108 units in a mix of one-, two- and three-bedroom layouts. According to Marcus & Millichap, the property features a 20-year family Housing Assistance Payments contract, which is expiring in 2024, on 98 percent of the units. Ridge MacLaren, Andrew Townsend and Clarke Talone of Marcus & Millichap.
IRVINE, CALIF. — Cloudvirga has leased 11,918 square feet of office space in Irvine. The space is located at 2875 Michelle Drive within Jamboree Business Center. The modern fintech company for the home lending industry will use the space as its corporate headquarters. The new office will allow the company room for growth. JLL’s Scott Wetzel represented Cloudvirga, while the landlord, Irvine Co., was represented in-house by Gavin Galey and Mike Santley.
LOS ANGELES — Madison Marquette has added three new tenants to District La Brea, the company’s adaptive re-use development in Los Angeles. Interior Define, Best Made and Made Gold will open at the 110,214-square-foot retail, dining and office property this fall. Interior Define is a custom furniture store; Best Made offers a lifestyle line of outdoor gear from graphic designer Peter Buchanan-Smith; and Made Gold is a denim-focused streetwear brand by Marta Goldschmeid.
MESA, ARIZ. — PC Avenue 8 Mesa LLC has acquired the 194-unit Avenue 8 apartment complex in Mesa for $21.2 million. The community is located at 1050 W. Eighth Ave. The asset features two-bedroom units with refrigerators and stackable washers and dryers. Community amenities include two swimming pools, covered parking, fitness center, and a renovated office and clubhouse. Mark Forrester, Ric Holway and Dan Cheyne of Berkadia represented the seller, KMG Village in the Pines LLC, in the transaction.
NEW YORK CITY — 60 Guilders LLC, in a joint venture with ASB Real Estate Investments, has acquired an industrial building located at 5110-5112 Second Ave. in Brooklyn. An undisclosed seller sold the property for $47 million. The building features 185,000 square feet of industrial space. Leo Leyva, Jordan Metzger, Matthew Schneid and Jonathan Goodelman of Cole Schotz P.C. advised 60 Guilders in the joint venture and acquisition.
NEW YORK CITY — Marcus & Millichap has negotiated the sale of a mixed-use property located at 321 W. 11th St. in Manhattan’s West Village. A local private investor acquired the property from a limited liability company for $11.6 million. The 10,400-square-foot property features two retail units, 10 studio apartments and eight one-bedroom apartments. Matt Fotis and Sam Hoefle of Marcus & Millichap represented the seller and procured the buyer in the deal.
ELIZABETH, N.J. — Elberon Development Group has purchased a warehouse located at 919 Fairmount Ave. in Elizabeth. Hayward Industries sold the property for $9 million. The seller has leased back 10,000 square feet of the 115,000-square-foot building, while the remainder of the property is leased to Survivor Window through the end of 2017. Starting in early 2018, Elberon will implement a capital expenditure plan at the property to re-lease the window manufacturer’s space. Improvements will include LED lighting, an updated façade, the removal of interior demising walls, a new HVAC system and new landscaping. Frank Caccavo, Jason Goldman, Marc Petrella and Andrew Siemsen of Cushman & Wakefield brokered the transaction.
FAIRFIELD, CONN. — Angel Commercial has arranged the sale of an office building located at 134 Round Hill Road in Fairfield. Round Hill Road Partners sold the property to 134 Round Hill Road LLC for $1.3 million. Situated on 0.3 acres, the freestanding building features 7,350 square feet of office space. Angel Commercial represented the seller and buyer in the deal.
PHOENIX — Scottsdale Investment Management has purchased a 38,238-square-foot office building in West Phoenix for an undisclosed sum. The property is located at 8800 N. 22nd Ave. It is fully occupied by the Department of Economic Security’s Family Assistance Administration division, which coordinates programs to support Arizona families in need. The space was built in 1986. Mindy Korth, Kirk Kuller and John Barnes of Colliers International and Greg Bamford of Bamford Southwest represented the locally based seller in this transaction.